Going Where You’re Treated Best and Nomad Capitalist Live 2024 with Andrew Henderson SLP564

Leon Wankum shares his journey from studying philosophy to becoming a property expert and Bitcoin enthusiast. He discusses the intersection of real estate and Bitcoin, emphasizing the monetary premium in real estate, the impact of the fiat system on property prices, and the social consequences of property investment. Leon differentiates between property speculation and development, highlighting the business aspects of real estate. He also compares investment yields in real estate versus Bitcoin, arguing that Bitcoin offers superior returns and flexibility as a store of value. In this conversation, Stephan and Leon discuss the evolving landscape of investment strategies, particularly the integration of Bitcoin into real estate investments. They explore the barriers that traditional property investors face when considering Bitcoin, the potential benefits of incorporating Bitcoin into investment portfolios, and the future implications for real estate if Bitcoin is not adopted. The discussion emphasizes the importance of understanding Bitcoin as a superior monetary technology and its role in counterbalancing inflation and enhancing financial strategies.Takeaways🔸Leon Wankum transitioned from philosophy to real estate and Bitcoin.🔸Bitcoin is seen as a digital store of value competing with real estate.🔸The monetary premium in real estate is influenced by the fiat system.🔸Real estate is often used as a hedge against inflation.🔸Younger generations face challenges entering the property market.🔸Speculation in real estate is driven by low interest rates.🔸Real estate development is a business, not just speculation.🔸Bitcoin offers more freedom and flexibility than real estate.🔸Investment yields in Bitcoin outperform those in real estate.🔸The future of real estate may shift towards Bitcoin as a primary asset.  Bitcoin is increasingly seen as a better store of value than real estate.🔸Many real estate investors are hesitant to adopt Bitcoin due to familiarity with traditional investments.🔸The COVID-19 pandemic shifted perceptions about real estate and Bitcoin.🔸Investors are beginning to recognize Bitcoin's potential as a monetary technology.🔸Real estate is often viewed as a financial asset rather than a design object.🔸Incorporating Bitcoin into investment strategies can provide a competitive edge.🔸Using Bitcoin as a treasury asset can enhance cash flow management.🔸Refinancing properties to invest in Bitcoin is a viable strategy for some investors.🔸The future of real estate may involve a significant shift towards digital assets like Bitcoin.🔸Understanding Bitcoin's role in the economy is crucial for future investment success.Timestamps:(00:00) - Intro(00:56) - Who is Leon Wankum?; Bitcoin & real estate journey(04:35) - Why is monetary premium baked into real estate prices around the world?(10:53) - What are the social consequences of property investment? (14:55) - Is the value of real estate driven by debasement of local currency?(17:07) - Sponsors(20:44) - Leveraged speculator vs Property developer(29:38) - Overview of Rental yield in Germany & US; The boon of Bitcoin(35:09) - What is the common pushback from real estate investors against Bitcoin?(40:54) - Convergence between Real estate & Bitcoin investors (42:37) - Are people considering leveraging property to buy Bitcoin?(44:20) - Sponsors(50:10) - How can real estate investors incorporate Bitcoin into their investments? (58:47) - What will be the future of real estate businesses without Bitcoin?(1:04:20) - Closing thoughts Links: https://x.com/leonwankum https://www.digitalrealestate.org/ https://leonwankum.substack.com/p/from-real-estate-to-bitcoin-redefining-how-humanity-saves-and-lives Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

5 Mai 1h 4min

Stephan & NVK discuss the current state of self-custody in Bitcoin, highlighting the advancements in hardware wallets like Coldcard and the importance of understanding trade-offs in wallet solutions. Coldcard introduces new features such as co-signing and key teleport, which enhance security and usability. The conversation also touches on the future of wallet software, including the promising Cove Wallet and the potential of Miniscript in Bitcoin transactions. NVK also highlights the significance of seed phrases in Bitcoin custody, critiques the current OP_Return dynamics and GitHub moderation, and reflects on the implications of BitVM and Layer 2 solutions. Takeaways🔸Self-custody is becoming more accessible and user-friendly.🔸The importance of understanding trade-offs in wallet solutions is crucial.🔸Coldcard's new features enhance security and usability.🔸Key teleport allows secure sharing of private keys remotely.🔸Cove Wallet is a promising new tool for onboarding users.🔸Miniscript is still in early development but shows potential.🔸Collaborative multi-sig setups can improve security for users.🔸Education on self-custody is essential for new Bitcoiners.🔸The sovereign aspect of Bitcoin is a significant advantage.🔸Continuous innovation in wallet technology is necessary for the future. Sparrow is a robust wallet with advanced features.🔸Self-custody is crucial for Bitcoin users.🔸Seed phrases provide a powerful recovery method.🔸The OP_Return debate highlights governance challenges.🔸BitVM introduces new dynamics for Layer 2 solutions.🔸Competition among Bitcoin implementations is healthy.🔸Moderation on GitHub needs improvement.🔸Community engagement is essential for Bitcoin's future.🔸The UTXO set's pollution is a complex issue.🔸OpenSAT aims to fund valuable Bitcoin projects.Timestamps:(00:00) - Intro(01:01) - Where are we with Bitcoin self-custody as of today? (04:52) - What are the tradeoffs to consider while choosing a Bitcoin wallet? (07:53) - Inheritance planning in Bitcoin with miniscript(11:50) - The impetus to self-custodying Bitcoin(14:23) - What is co-signing in @coldcardwallet?(17:46) - Who is the co-signing feature for? (23:00) - What is Key Teleport? How does it work? (28:51) - Does Coldcard support Miniscript?(33:50) - What is @covewallet?; Bitcoin wallet projects(40:38) - The importance of seed phrases(44:40) - NVK’s thoughts on the OP_Return controversy(57:03) - The impact of BitVM & Layer 2 Solutions(1:00:39) - Various implementations of Bitcoin softwareLinks: https://x.com/nvk https://x.com/covewallet Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

2 Mai 1h 5min

Stephan & Vijay discuss the current state of Bitcoin, its market cycle, and its comparison with gold. They explore the implications of geopolitical factors on gold and Bitcoin, the rise of Bitcoin treasury companies, and the evolving liquidity channels in the market. The discussion also touches on speculation in Bitcoin and how it contributes to its growth, while emphasizing the importance of understanding the underlying economic theories. They also explore the evolving landscape of Bitcoin, the implications of MNAV (Market Net Asset Value) in the context of Bitcoin companies, and the transformative potential of AI on the economy. AI could lead to hyperabundance, affecting various sectors and potentially changing the role of money. The conversation also touches on the risks posed by quantum computing to Bitcoin's security and the need for proactive measures in the Bitcoin community.Takeaways🔸We're still early in this cycle.🔸Understanding causality in economics is crucial.🔸Bitcoin is decorrelating from the stock market and coupling with gold.🔸Gold is part of a larger macroeconomic story.🔸Bitcoin is better than gold in many aspects.🔸Liquidity channels to Bitcoin are larger than ever before.🔸Speculation around Bitcoin can be beneficial for its growth.🔸Degenerate gambling in Bitcoin can enhance its liquidity.🔸The FOMO moment for Bitcoin could lead to significant price increases.🔸We're currently in the third inning of the Bitcoin bull market. Bitcoin is evolving as a monetary asset.🔸MNAV dynamics will fluctuate with market cycles.🔸AI could revolutionize productivity and economic structures.🔸Hyperabundance may lead to deflationary pressures.🔸Debt may become less of an issue in an AI-driven economy.🔸AI's impact on knowledge work will be profound.🔸The future of work will involve significant job displacement.🔸Quantum computing poses a real threat to Bitcoin's security.🔸Individuals may soon replicate corporate Bitcoin strategies.🔸The rapid advancement of AI is reshaping various industries.Timestamps:(00:00) - Intro(01:44) - Where are we currently in the Bitcoin cycle? (06:47) - Bitcoin’s correlation with Gold(09:52) - The breaking down of Bretton Woods system(12:35) - Will Gold outperform the debasement of the dollar?; The Bitcoin story(16:27) - Sponsors (18:57) - Will Bitcoin drain capital out of other assets?(24:53) - The rise of Bitcoin ETFs & Treasury Companies(34:33) - Are Bitcoin Treasury companies the new levered bitcoin play?(39:56) - The significance of mNAV in Leveraged Bitcoin Equities (49:39) - How will the rise of AI impact society? (59:27) - Sponsors(1:01:15) - AI rewriting the future socio-economic structures; Will Bitcoin be the currency of AI?(1:14:01) - Quantum Computing & Bitcoin's future risksLinks: https://x.com/real_vijay Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

1 Mai 1h 15min

At Bitcoin Oasis 2025, we discussed Bitcoin tools & innovation, bitcoin cycles, financialization of bitcoin, adoption in the MENA region and India’s first bitcoin treasury company.Timestamps:(00:00) - Intro(00:57) - Preston Pysh(12:47) - Sponsors(15:03) - Sooly Kobayashi(21:49) - Max Hillebrand(28:46) - Sponsors(29:43) - Siddarth Bharwani(40:07) - Lara EggimanLinks: https://bitcoin-oasis.com/ https://x.com/BTCArabiaLtd https://x.com/PrestonPyshhttps://primal.net/sooly  https://primal.net/p/nprofile1qqst0mtgkp3du662ztj3l4fgts0purksu5fgek5n4vgmg9gt2hkn9lqv6g2cl https://x.com/sidbharwani https://x.com/SwissAlice1 Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

30 Apr 43min

Stephan & Gilded Pleb, a developer who created StackMath, a financial calculator for Bitcoin, discuss Gilded's personal journey with Bitcoin, its potential impact on homelessness, and the importance of understanding financial models for retirement planning. Gilded explains how traditional financial calculators often fail to account for the volatility of Bitcoin and introduces the Monte Carlo simulation as a more effective tool for predicting financial outcomes. The conversation also touches on inflation, retirement strategies, and the significance of model selection in financial planning. They also explore the emerging role of Bitcoin treasury companies and how they can provide access to fiat leverage, while also emphasizing the importance of self-custody. The discussion shifts to risk management strategies, including the allocation of portfolios between Bitcoin and high-risk investments. Takeaways🔸Gilded Pleb shares his personal journey with Bitcoin and homelessness.🔸Bitcoin can alleviate some of the pressures causing homelessness.🔸Traditional financial calculators often fail to account for Bitcoin's volatility.🔸Monte Carlo simulations provide a better model for financial predictions.🔸The 4% rule is a heuristic for retirement planning.🔸Inflation rates can significantly impact financial planning.🔸StackMath allows users to run their own financial simulations.🔸Understanding the range of Bitcoin's price is crucial for planning.🔸DCA (Dollar-Cost Averaging) can be a reasonable strategy for retirement.🔸Nation states could be the next major buyers of Bitcoin. Debt is complicated, especially when collateralizing Bitcoin.🔸Being in debt can feel antithetical to the Bitcoin ethos.🔸Bitcoin allows for personal sovereignty and mobility.🔸Many Bitcoin treasury companies operate on fiat IOUs.🔸The fundamental nature of Bitcoin offers unique advantages.🔸A 90-10 portfolio strategy can balance risk and security.🔸Access to fiat leverage can enhance Bitcoin investments.🔸Volatility in Bitcoin may decrease as it matures.🔸Investment strategies should consider individual risk tolerance.🔸Exploration and education are key in navigating Bitcoin investments.Timestamps:(00:00) - Intro(01:00) - Who is Gilded Pleb?; Navigating homelessness & finding Bitcoin(05:34) - What is StackMath?; The importance of Monte Carlo simulation(13:16) - Inflation & financial planning (17:11) - What are the key strategies for retiring on Bitcoin?(21:32) - Sponsors(24:48) - Model selection & Predictions for Bitcoin(28:20) - Should you borrow against your Bitcoin stack?(33:46) - The role of Bitcoin Treasury Companies(36:23) - How can one manage risks in Bitcoin investments?(38:11) - Sponsors(39:15) - Navigating Bitcoin volatility with Bitcoin Treasury Companies(46:44) - Can Bitcoin Treasury Companies be modelled? (52:53) - Closing thoughtsLinks: https://x.com/gildedpleb https://stackmath.xyz/ Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

29 Apr 53min

In this episode, Stephan discusses the latest updates on Fedimint with its founders Eric Sirion and Joschi. They delve into the concept of eCash, its significance in the Bitcoin ecosystem, and the differences between Fedimint and other systems like Cashu. The conversation highlights the real-world applications of Fedimint, recent updates including version 0.7, and the introduction of IROH, which simplifies the setup process. They also explore the importance of client agnosticism, the integration of LN URL and BOLT 12 for enhanced user experience, and the role of Lightning Gateways in facilitating transactions. The conversation also dives into the intricacies of Fedimint - a decentralized solution for Bitcoin custody and management. The speakers discuss the roles of clients and guardians, the ease of setting up a Fedimint, and the future of community adoption. They explore the comparative advantages of Fedimint over other Bitcoin solutions, including Liquid and custodial wallets, emphasizing the importance of privacy, trust, and decentralization in the Bitcoin ecosystem. Takeaways🔸Fedimint is a decentralized eCash system that enhances privacy.🔸eCash allows users to transact without revealing their identity.🔸The multi-sig approach in Fedimint increases security and resilience.🔸Fedi is a commercial entity that builds on the Fedimint protocol.🔸Fedimint enables community custody of Bitcoin, fostering local economies.🔸Version 0.7 of Fedimint introduces new features like recurring payments.🔸IROH simplifies the setup process for Fedimint, making it more accessible.🔸Client agnosticism allows for flexibility in integrating with various applications.🔸LNURL facilitates recurring payments, improving user experience.🔸Lightning Gateways provide efficient transaction processing for users. Clients can choose from multiple gateways for redundancy.🔸Guardians manage the server, while clients handle complexity.🔸Setting up a Fedimint is simplified for users.🔸Community adoption requires a certain density of Bitcoin use.🔸Federations will vary in size, with some becoming quite large.🔸Privacy and trust are key factors in choosing a federation.🔸Self-custodial solutions are seen as the gold standard.🔸Custodial solutions may pose systemic risks to Bitcoin.🔸Decentralization of custody is crucial for Bitcoin's future.🔸Government regulations can impact Bitcoin adoption significantly.Timestamps:(00:00) - Intro(00:49) - Who are Eric & Joschi?(02:57) - What is eCash? What is its role in Bitcoin?(04:09) - What is the difference between Fedimint & Cashu?(06:11) - Fedi vs. Fedimint - what are they? (08:50) - Real world applications of Fedimint (12:53) - What is Iroh? (17:08) - How does Iroh work? (Technical insights & functionality)(18:50) - Sponsors(31:17) - Enhancing UX with LNURL & Bolt12(35:07) - What is the role of Lightning gateways in Fedimint?(40:18) - Simplifying Guardian setup and management(44:29) - The future of Fedimint & community adoption; Federation sizes & distribution(48:46) - Privacy and Trust in Federations(50:18) - Sponsors(51:18) - Comparative analysis of Bitcoin custody solutions(59:39) - Fedimint Vs Liquid Federation(1:04:20) - Will nation states choose an eCash-type solution?(1:05:38) - Thoughts on Bitcoin custody amidst growing global adoption(1:07:54) - ‘Single Binary’ update in Fedimint(1:12:23) - Closing thoughts Links: https://x.com/EricSirion https://x.com/joschisanbtc https://x.com/fedimint/status/1912173279239897133 Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

24 Apr 1h 13min

In this episode, Stephan Livera speaks with Matyas Kuchar about the evolving landscape of Bitcoin, particularly focusing on the BTC Prague conference and the changing demographics of Bitcoin enthusiasts. They discuss the shift in sentiment towards Bitcoin, the importance of education in fostering self-sovereignty, and the role of corporate strategies in Bitcoin treasury management. The conversation also touches on the Czech Republic's unique position in the Bitcoin ecosystem and the upcoming BTC Prague conference, which aims to unite the Bitcoin community and promote individual empowerment.Takeaways🔸BTC Prague reflects the changing sentiment of Bitcoin.🔸The new wave of Bitcoiners is more mainstream and diverse.🔸Education is crucial for newcomers to understand Bitcoin's values.🔸Self-sovereignty is a key principle of Bitcoin.🔸Czech Republic is becoming a hub for Bitcoin innovation.🔸The Bitcoin community is welcoming and supportive.🔸Corporate strategies for Bitcoin treasury are evolving.🔸The year 2025 is seen as pivotal for Bitcoin adoption.🔸Conferences like BTC Prague foster connections and learning.🔸Individuals can leverage Bitcoin in their existing jobs.Timestamps:(00:00) - Intro(01:03) - What’s new with BTC Prague?(03:33) - The evolution of Bitcoin adoption(06:34) - The changing demographics of Bitcoin enthusiasts (11:21) - Choosing self sovereignty over ETFs(14:02) - What is the role of education in Bitcoin adoption?(17:16) - Today’s Bitcoiners will be tomorrow’s leaders(19:08) - Sponsors (21:29) - Bitcoin treasury management & evolving corporate strategies (23:54) - Choosing between a fiat job & a bitcoin job(24:48) - How is Bitcoin adoption shaping in the Czech Republic?(32:03) - Sponsors(34:35) - Will the central bankers understand Bitcoin?(41:31) - What to expect at BTC Prague 2025?Links: https://x.com/Matyas44Cook https://x.com/btcprague https://x.com/chaincampcz Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

22 Apr 44min

In this episode, Alejandro de la Torre, CEO and founder of Demand Pool, discusses the launch of their new Stratum V2 mining pool. Alejandro explains the importance of decentralization in Bitcoin mining, the risks associated with traditional mining pools, and how Demand Pool aims to create a fair and transparent system for miners. The conversation covers the differences between payout structures like FPPS and PPLNS, the innovative Slice payment system, and the role of translation proxies in facilitating mining operations. Alejandro also addresses the viability of mining pools and the importance of hash rate coordination. He also shares insights on global mining trends, the shift towards liquid cooling, and the challenges of censorship in the mining space. Takeaways🔸Demand Pool aims to address decentralization concerns in Bitcoin mining.🔸Stratum V2 allows miners to build their own blocks, enhancing decentralization.🔸FPPS payout structure creates centralization risks for miners.🔸PPLNS is a fairer payout method compared to FPPS.🔸The Slice payment system ensures fair distribution of transaction fees.🔸Transparency in payment systems is crucial for miner trust.🔸Translation proxies are necessary for current mining operations.🔸Demand Pool focuses on larger miners to achieve operational viability.🔸Decentralization is essential for Bitcoin's value and ethos.🔸Alejandro is committed to improving the mining ecosystem. Constant payouts to miners are achievable with sufficient hash rate.🔸FPPS and PPLNS have significant differences affecting miner payouts.🔸Security in mining pools is paramount to protect miners' interests.🔸A good mining pool prioritizes safety and incremental improvements.🔸Connectivity and latency are critical factors for mining efficiency.🔸Stratum V2 offers advancements over traditional mining protocols.🔸FPPS may become obsolete as transaction fees increase in importance.🔸Global trends show a rise in Bitcoin mining initiatives, especially in Africa.🔸Liquid cooling presents advantages and challenges compared to air cooling.🔸Censorship resistance is enhanced with Stratum V2, but challenges remain.Timestamps:(00:00) - Intro(01:00) - What is Demand pool? (02:24) - What is Stratum V2?; Centralization risks in mining pools(07:42) - Understanding FPPS payout structure(12:52) - What is PPLNS ? (14:44) - What is the Slice payment system?(18:53) - Difference between Demand Pool & OCEAN or Braiins(21:05) - Sponsors(23:35) - The role of translation proxy in mining; Current Stratum V2 support landscape(27:34) - How much hash rate is required to be viable as a pool?; Mining payouts (30:24) - Impact of FPPS vs PPLNS on miners(33:02) - How does Stratum V2 enhance the security of the pool?(35:06) - What makes a ‘good mining pool’?(38:34) - The role of good connectivity and latency in mining(40:13) - Demand Pool vs SRI: A technical comparison(42:53) - Why do miners choose FPPS over PPLNS?(45:43) - Sponsors(47:22) - Global Bitcoin mining trends(53:52) - Liquid cooling vs Air cooling in Bitcoin mining(55:50) - Is Stratum V2 censorship resistant? (59:07) - Closing thoughtsLinks: https://x.com/bitentrepreneur https://x.com/DEMAND_POOL https://www.dmnd.work/ https://blog.dmnd.work/understanding-slice-pplns-jd/ Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

27 Mar 59min