Stephan Livera Podcast

In this episode, Jan Kotas discusses the growing Bitcoin community in Paraguay, the benefits of living there for digital nomads, and the tax advantages of Paraguayan residency. He shares insights on the local infrastructure, safety, and the vibrant expat community. Jan also explains how to structure income through US LLCs for tax efficiency and the regulatory environment surrounding cryptocurrency in Paraguay. The conversation highlights the importance of community and education in promoting Bitcoin adoption, culminating in the announcement of the upcoming Accelerating Bitcoin Conference.Takeaways🔸Paraguay offers a favorable tax system for residents.🔸The digital nomad community in Paraguay is rapidly growing.🔸Safety in Asuncion varies by neighborhood.🔸US LLCs can provide tax efficiency for non-US citizens.🔸Paraguay does not require proof of income for residency.🔸The local banking system is not very crypto-friendly.🔸Bitcoin Paraguay is focused on education and community building.🔸The Accelerating Bitcoin Conference will showcase Paraguay's opportunities.🔸Many expats are seeking a Plan B in Paraguay.🔸The Bitcoin community is crucial for freedom seekers.Timestamps:(00:00) - Intro(00:51) - Who is Jan Kotas?(01:58) - Why is Paraguay a haven for digital nomads?(03:49) - Community, infrastructure and safety in Asuncion(08:14) - What are the tax benefits & residency requirements in Paraguay?(09:55) - U.S. LLC tax efficiency for non-resident aliens(14:55) - Reporting requirements for source of funds in Paraguay(18:29) - The merging of TradFi with Bitcoin(19:50) - Sponsors(26:38) - Building the Bitcoin Community in Paraguay; Educational initiatives & workshops(33:35) - Jan’s views on the excessive regulations in the EU(39:41) - The pros and cons of being a Bitcoiner in Paraguay(43:24) - Living in Asuncion vs. The Czech Republic; ‘Accelerating Bitcoin’ conference Watch the episode to find the BIP39 seed word and stand a chance to win millions of sats!#SatHunterzLinks: https://x.com/kotasjn https://x.com/Hacking_Lives https://x.com/BTCParaguay Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

8 Aug 45min

In this conversation, Stephan Livera and Kane McGukin discuss the evolving landscape of Bitcoin treasury companies, exploring the risks, potential failures, and the role of Bitcoin in financial services. They explore the dynamics of equity versus preferred shares, the importance of education in Bitcoin investments, and the impact of market volatility on investor behavior. The discussion highlights the need for a deeper understanding of the financial instruments associated with Bitcoin and the potential for treasury companies to bridge the gap between traditional finance and the Bitcoin ecosystem.Takeaways🔸Kane expresses skepticism about the financial engineering of treasury companies.🔸The risks associated with equity dilution in treasury companies are significant.🔸Bitcoin's role in financial services is evolving, with treasury companies acting as a bridge.🔸Investors need to understand the difference between equity and preferred shares in treasury companies.🔸Market dynamics can lead to volatility in treasury company investments.🔸Education is crucial for investors to navigate the complexities of Bitcoin and treasury companies.🔸Timing and market conditions significantly impact investment outcomes in treasury companies.🔸The future of Bitcoin and treasury companies is intertwined with regulatory developments.🔸Investors should be cautious of the hype surrounding treasury companies.🔸The conversation emphasizes the importance of understanding the underlying assets and their value. Timestamps:(00:00) - Intro(02:16) - Kane’s skepticism around BTCTCs(05:37) - What are the possible risks to consider for a BTCTC?(09:53) - Strategy orange-pilled retail investors through the success of $MSTR(12:13) - How do Auction Rate Securities work?; Comparing with Strategy's $STRC(21:51) - What is your time horizon for Bitcoin & BTCTCs?(23:38) - Sponsors(29:10) - Does the retail crowd understand Bitcoin? Are BTCTCs a good route for Bitcoin exposure?(41:31) - Understanding the risks in Bitcoin Treasury Companies(46:14) - Long term perspectives on Bitcoin and BTCTCs; The importance of NgU(51:14) - Bitcoin’s future ft. Power Law; Leveraging equity in Bitcoin investments(1:00:12) - Innovations in Bitcoin Financial Products; The importance of Bitcoin education through BTCTCs(1:13:16) - Closing thoughts Links: https://kanemcgukin.substack.com/ https://x.com/kanemcgukinSponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

6 Aug 1h 16min

In this episode, Stephan Livera interviews Evan (VNPRC), the creator of HashPool, discussing the importance of decentralizing Bitcoin mining. They explore the current state of mining centralization, the risks it poses, and how HashPool aims to empower small miners through innovative technologies like eCash and e-Hash tokens. The conversation also explores the challenges of privacy, custodial risks, and the future of decentralized mining, emphasizing the need for regular payouts and sustainable practices.Takeaways🔸Decentralization of Bitcoin mining is essential to prevent systemic risks.🔸Large mining pools currently control a significant portion of Bitcoin's block production.🔸Censorship resistance is crucial for the integrity of Bitcoin transactions.🔸Small miners require regular payouts to sustain their operations.🔸eCash technology can enhance privacy for Bitcoin miners.🔸e-Hash tokens represent a new model for mining payouts.🔸Custodial risks are inherent in current mining pool structures.🔸The future of mining may involve more decentralized protocols like CTV.🔸Sustainability of projects like HashPool is vital for long-term success.🔸Community-driven initiatives can foster greater decentralization in Bitcoin mining.Timestamps:(00:00) - Intro(01:00) - Where are we headed with Bitcoin mining? (03:55) - What is Block Template creation?; Empowering the small mining operations(11:29) - What is eCash and how does it work?; Enhanced privacy with eCash(18:33) - How do mining pools work and what is HashPool?; Trading eHash tokens(27:49) - Creating decentralized marketplaces for trading eHash tokens; The ideal eHash trader(34:23) - The challenges of non-custodial mining(40:23) - How do you verify payouts?; Proof of Liabilities (43:20) - Combining eCash and mining for transparency(50:02) - Decentralization in mining payout models(55:28) - What is the future of small-scale mining?(1:01:08) - What is the technical architecture of HashPool?(1:06:08) - Sustainability and ideological goals of HashPool(1:08:37) - Closing thoughts Links: Hashpool Website: https://hashpool.dev/ Hashpool Twitter: https://twitter.com/btchashpool vnprc nostr: https://njump.me/npub16vzjeglr653mrmyqvu0trwaq29az753wr9th3hyrm5p63kz2zu8qzumhgd btc++ talksHashpool - A New Kind of Mining Pool Powered by Ecash: https://www.youtube.com/watch?v=SeydWRNjH_Y&list=PLZdV4KsJUf8dxXlrAHjaVUyra20zcIRbm Proxy Pools - Harness the Free Market to Decentralize Bitcoin Mining: https://www.youtube.com/watch?app=desktop&v=F2p_V0svDTo&t=3h15m30s Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

5 Aug 1h 10min

In this conversation, Albert Buu, founder and CEO of Neutron, discusses the evolution of Bitcoin and financial services in Vietnam. He highlights the changing regulatory landscape, the increasing acceptance of Bitcoin and stablecoins, and the innovative offerings of Neutron, including lending products and APIs for businesses. The discussion also touches on the challenges of KYC regulations and the future potential of Bitcoin in Vietnam's economy.Takeaways🔸Neutron has evolved from a payment service to a comprehensive financial platform.🔸Vietnam's regulatory landscape for Bitcoin is changing positively.🔸Stablecoins are widely used in Vietnam for transactions and remittances.🔸The younger population in Vietnam is driving the adoption of Bitcoin and digital finance.🔸Neutron's API allows businesses to integrate Bitcoin payments easily.🔸Lending products are becoming popular among users looking to leverage their Bitcoin holdings.🔸KYC regulations are becoming stricter, impacting remittance services.🔸The Vietnamese market is seeing a rise in Bitcoin usage due to capital flight restrictions.🔸Neutron aims to provide both custodial and non-custodial options for users.🔸The future of Bitcoin in Vietnam looks promising with increasing acceptance and usage.Timestamps:(00:00) - Intro(00:51) - What is Neutron pay?(02:05) - How does Vietnam view Bitcoin?(06:39) - Greenlight by the Vietnamese government to provide Bitcoin-related services(09:53) - Who is using Bitcoin in Vietnam?(12:10) - The role of stablecoins; General use case of Bitcoin & stablecoins among Vietnamese HNIs (16:11) - What does the Neutron Pay API offer?; Who is the end user?(24:30) - Will stablecoins transact on the Bitcoin blockchain?(26:44) - Sponsors(29:00) - Lending products & services on Neutron (LTV, liquidation scenarios, tradeoffs etc.)(39:52) - Finding capital partners for loans(43:19) - Who is the lending service for?(48:40) - Open finance vs. Closed finance; The use case of Bitcoin for remittances (51:58) - The noose of excessive regulation(55:17) - Closing thoughtsLinks: https://x.com/subnetmask https://x.com/Neutron__me https://x.com/neutronpay Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

4 Aug 58min

In this episode, Stephan Livera and Jad Mubaslat discuss the emerging trend of Bitcoin treasury companies, exploring the potential risks and rewards associated with investing in these entities. Jad expresses skepticism about the sustainability of these companies, particularly regarding their cash flow and financial engineering strategies. The conversation delves into the implications of convertible notes versus preferred shares, tax considerations, and the historical context of financial bubbles. Ultimately, both acknowledge the importance of self-custodying Bitcoin while considering the role of treasury companies in the evolving financial landscape.Takeaways🔸Jad Mubaslat expresses skepticism about Bitcoin treasury companies.🔸The lack of cash flow in many treasury companies raises concerns.🔸Convertible notes and preferred shares have different implications for investors.🔸Tax implications can affect the market value of treasury companies.🔸Market dynamics may lead to a winner-takes-most scenario in different jurisdictions.🔸Historical financial trends provide context for current treasury company dynamics.🔸Regulatory changes could impact the future of Bitcoin treasury companies.🔸Investors should be cautious about the risks associated with treasury companies.🔸Self-custodying Bitcoin is emphasized as a priority for investors.🔸The conversation highlights the importance of understanding financial structures. Timestamps:(00:00) - Intro(01:08) - Who is Jad Mubaslat?(03:30) - Jad’s skepticism towards Bitcoin Treasury Companies(08:39) - Who gets rekt?; mNAV compression(13:02) - Sponsors (14:55) - Convertible notes vs Preferred shares; Tax implications for investors(21:42) - Strategy’s preferred share offerings; Risk-adjusted investment scenarios(31:54) - Will BTCTCs continue to exist?(34:24) - Will regulatory frameworks make it easier for BTCTCs to thrive?(38:48) - What does the future look like for BTCTCs?(43:23) - ‘Winner takes most’ & the end game for BTCTCs(49:22) - Comparing Bitcoin Treasury Companies with the stock bubble of 1920s(1:00:04) - Closing thoughts Links: https://x.com/champbronc2 https://x.com/BitQuickco https://x.com/Synota_ Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

2 Aug 1h 3min

In this episode, Stephan Livera interviews Pascal Eberle, Chief of Staff at Sygnum Bank, discussing the bank's unique offerings in the Bitcoin and digital assets space. They explore the growing interest in Bitcoin as a corporate treasury asset, common misconceptions about Bitcoin, and the evolving landscape of lending against Bitcoin. Pascal shares insights on Sygnum's custody solutions, interest rates, and the future of lending products that integrate Bitcoin. The conversation highlights the importance of understanding both Bitcoin and corporate finance for successful adoption.Takeaways🔸Sygnum Bank is a fully licensed Swiss bank focused on digital assets.🔸The bank serves high net worth individuals and institutional clients.🔸Bitcoin is seen as a digital capital and a better form of money than fiat.🔸Corporate treasury companies are gaining traction in Bitcoin adoption.🔸Common misconceptions about Bitcoin include volatility and lack of cash flow.🔸Lending against Bitcoin is becoming more popular and regulated.🔸Interest rates for loans at Sygnum range from 5.5% to 9.5%.🔸Sygnum offers flexible loan terms and a unique margin call procedure.🔸The bank employs a multi-custody strategy for asset security.🔸Future lending products may integrate Bitcoin as a de-risking factor.Timestamps:(00:00) - Intro(00:49) - Who is Pascal Eberle?(01:52) - What is Sygnum Bank and what does it offer?  (04:28) - Why are Bitcoin Treasury Companies so alluring?; Bitcoinization of Finance(06:27) - Are Sygnum’s clients adopting Bitcoin for their corporate treasuries? (08:11) - What are some of the common misconceptions about Bitcoin among clients? (11:04) - Bitcoin self custody ethos vs. BTCTCs (‘Paper Bitcoin Summer’)(15:01) - Are large institutions considering borrowing against their Bitcoin stack?; Opportunities and Risks(17:07) - Sponsors(19:15) - Sygnum’s interest rates & loan terms for Bitcoin Lending(25:14) - What is the future of On-Chain lending vs. Traditional lending? (29:43) - Understanding Sygnum’s loan rates, fees & custody parameters(33:52) - Legal requirements for custodying digital assets with Sygnum; EU regulations and licensing (MICA) (37:49) - Sygnum’s client demographics(39:23) - Bankruptcy and asset protection in swiss banking(41:50) - How will the Bitcoin lending products evolve?(46:55) - Client thresholds and Onboarding at Sygnum(49:19) - Closing thoughts Links: ⁠https://x.com/sygnumofficial⁠ Sponsors:⁠Bold Bitcoin⁠⁠CoinKite.com⁠ (code LIVERA)Stephan Livera links:Follow me on X:⁠ @stephanlivera⁠⁠Subscribe to the podcast⁠⁠Subscribe to Substack⁠

1 Aug 50min

Stephan and Cory discuss the current trends in Bitcoin and cryptocurrency, focusing on the dynamics of altcoins, the emergence of treasury companies, and the implications of regulatory changes. They explore the long-term outlook for Bitcoin, the role of mining companies, and the potential for institutional adoption. The discussion emphasizes the importance of understanding the market landscape and the various strategies for investing in Bitcoin and related assets.Takeaways🔸Altcoins generally trend down against Bitcoin over time.🔸Treasury companies are gaining attention for their potential returns.🔸Bitcoin remains the safest long-term store of value.🔸Leverage in Bitcoin equities can enhance returns but comes with risks.🔸Mining companies face challenges in capital markets compared to Bitcoin equities.🔸Regulatory changes may impact the landscape for Bitcoin and crypto.🔸Institutional adoption is crucial for the future of Bitcoin.🔸Understanding the market dynamics is essential for investors.🔸Not all companies will achieve institutional scale in Bitcoin investment.🔸Every business can benefit from holding Bitcoin on their balance sheet.Timestamps:(00:00) - Intro(01:51) - Is it a season of altcoins or Leveraged Bitcoin Equities (LBEs)? (04:27) - Bitcoin’s dominance & reducing volatility vs LBEs(10:54) - Can Strategy use MSTR to pay for the obligations of preferred share offerings? (13:30) - The role of Convertible Debt and Preferred Shares(18:43) - Are LBEs sustainable? (21:56) - Sponsors(23:46) - What are the jurisdictional advantages of various LBEs?(28:56) - What is the future of Bitcoin accumulation strategies?(34:07) - Bitcoin mining companies vs. LBEs(38:40) - Sponsors(39:39) - Competition among the Bitcoin accumulators ( $NAKA, $SQNS etc.) (43:09) - The speculative attack arbitrage of LBEs(51:41) - Cory’s perspective on the recent crypto laws passed in DC(57:50) - Will the CLARITY act help the open source devs? (1:01:01) - Closing thoughtsLinks: https://x.com/coryklippsten Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

22 Juli 1h 3min

Praveen discusses the user experience of setting up a Bitcoin wallet, emphasizing the need for improved onboarding for new users. He explains the flow for both hardware and hot wallets, highlighting the importance of personal responsibility in Bitcoin custody. The discussion also covers the concept of graduated wallets, the role of layer 2 solutions, and the ongoing debate about filters and mining centralization. Praveen shares his vision for Cove wallet, including future features and the importance of catering to users who prioritize self-sovereignty in their Bitcoin journey.Takeaways🔸The wallet setup process can be overwhelming for new users.🔸Improving onboarding flows is essential for user retention.🔸Personal responsibility is a core principle in Bitcoin custody.🔸Graduated wallets can help users transition from simple to advanced features.🔸Layer 2 solutions are still in a wait-and-see phase.🔸Miniscript and advanced features may become more popular in the future.🔸Filters in Bitcoin can lead to mining centralization issues.🔸Multiple implementations of Bitcoin software can enhance decentralization.🔸User feedback is crucial for developing wallet features.🔸Cove aims to be the best wallet for new users across all platforms.Timestamps:(00:00) - Intro(01:19) - Why did Praveen create Cove wallet?(05:59) - Comparing Cove wallet with other Bitcoin wallets(09:44) - Cove wallet’s business model (13:47) - Seeking feedback from users to improve the wallet (16:55) - Cove wallet setup flow(20:14) - Sponsors(26:54) - Should a user start with a graduated wallet? (30:07) - Differing views on Bitcoin custody; Self-sovereign approach to custody(39:04) - Are Layer 2 solutions fuelling the MoE qualities of Bitcoin?(47:11) - Bitcoin Treasury Companies (BTCTCs) (49:39) - Sponsors(51:08) - Praveen’s view on Bitcoin Core Vs Bitcoin Knots debate; The impact of filters on Bitcoin’s future (1:04:24) - Will there be alternative implementations of Bitcoin?(1:13:48) - Closing thoughts Links: https://x.com/covewallet https://x.com/praveenperera https://covebitcoinwallet.com/ Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

16 Juli 1h 16min