Finding Bitcoin Signal with Jeff Booth

SHOW NOTES:
www.whatbitcoindid.com/podcas...
Jeff Booth is the Author of The Price of Tomorrow and CEO/Chairman of Ego Death Capital. In this interview, we discuss how Bitcoin fundamentals (such as its approach to the blockchain trilemma, centring on truth, and its deflationary effects) run counter to current economic theories, making Bitcoin’s signal harder for some to find.
THIS EPISODE’S SPONSORS:
Gemini - www.gemini.com/
Wasabi- www.wasabiwallet.io/
Ledn - www.ledn.io/
Fidelity Investments - crypto.fidelitycareers.com/
Ledger - www.ledger.com/
Texas Blockchain Summit - www.texasblockchainsummit.org/
BCB Group - hubs.ly/Q011cb730
TIMESTAMPS:
00:00:00 Introduction
00:01:00 Inflation is theft
00:15:54 History of failed centralised systems
00:26:56 The Blockchain Trilemma
00:37:18 Decentralisation & security
00:43:58 Driving Bitcoin adoption: education or need?
00:53:24 The protocol layer enables a p2p internet
01:02:31 A society connected through base-layer truth
01:12:35 Unifying mission of Bitcoin
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#Bitcoin #Finance #Economics
****

[@unknownsoldier1627]

I see Jeff I click, then the endorphins roll in

[@mstafford368]

Easy there, Soldier! 😂

[@69spanks]

Same

[@richbirecki]

Pretty much my sentiments as well

[@bog6626]

wen endorphins roll in, you buy more BTC 😅

[@travishaines7410]

Buy buy buy buy buy buy buy buy buy buy lol

[@jingmu1289]

I felt like I had a knowledge feast after watching this episode. I am mentally very satisfied. Thank you!

[@weepz]

"You either come to the realization that central banking is at the root of many of society's ills, or you remain trapped in a loop of blaming the 'other side' while distracted by the 'current thing'."

[@TheRealDerekS]

Jeff is a gem. Made me think of something I heard Vijay say a while back, "Information moves at the speed of light, but understanding does not." We are all nodes for the development of understanding. Love that Bedford hoodie w/ the Bitcoin B on it. I will be buying one. Go Bedford! (and SKOL Vikings!!)

[@_ben_sisko]

Every episode is like I'm going back to school again. But this time for an education that is actually worth it!

[@pjromao2]

As usual and once again… Jeff’s brilliant & inspiring. Good job Peter all WBD team.

[@channelbitcoin21M]

I’ve been saying this for years - Bitcoin is constantly gathering economic information. That’s why it appreciates in value, given it’s properties and parameters, over time. Bitcoin is a near-perfect substrate for economic information.

[@glenncharles6622]

Peter, another amazing podcast. I could listen to Jeff every day. Mind blowing things to think about.

[@realcyberghost]

This was great, I listen a lot to various motivational videos, but this one gets me more excited and feeling good about the future than anything heard in a long time.

[@IntuitiveIQ]

Just finished a different episode, now ready for this one. 🙏🏻

[@caseyfit]

Jeff is the best IMO. His book was the first book I read when I went down this Bitcoin rabbit hole.

[@BecquePeters]

LOVE your work on this. Keep up these amazing interviews.

[@randyjones3050]

This is the best interview with Jeff Booth I've heard yet. It brought together many different ideas I've been thinking about for a long time, but stated in a very coherent logical manner. I had sever "AhHa" moments while listening to this particular discussion. You should send it to Jesse Powell because I think he needs to hear it.

[@DrJeffRoss]

This is a truly fantastic interview, which will stand the test of time. Kudos Peter and Jeff!

[@smartmoney607]

He killed it.

[@jonp.1084]

Booth = legend

[@gloriamariadc7757]

“Abundance in $$$ is scarcity everywhere. Scarcity in $$$ creates abundance everywhere.” That’s deep.

[@EHame]

Love your show. Respect Mr. Booth and love listening to him.

[@amphibious2wheels618]

Thanks for sharing such a great chat w great guest! Cheers from Mexico!

[@undaflow4074]

Absolutely blown away by this. I saw the pennies drop Peter and was with you as Jeff showed the depths of the crime we’re trying to live our lives in. Top shelf!

[@humanitos.davidizquierdo6416]

i will study this interview deeply.Thank you!!

[@ikust007]

Really my type of interview. Thank you.

[@Paul-Coburn]

Very insightful. A whole different way of looking at things.

[@johnroff2704]

Best show yet!

[@adyscorpius2614]

I wish the title was better, cuz the content is mind blowing... Glad I watched it... Thank you for the interview..

[@KevinBasham]

Fantastic interview! We had Jeff on our show last month, he’s one of my favourite guests.

[@fuzznakano]

Well done Peter and team. You are doing a fantastic job in sharing this information all over the world. Mjr Tokyo 😊

[@Sammythebull86]

Amazing interview!

[@gloriamariadc7757]

This is one of your very best best best episodes.

[@d9230]

Mind blowing! The podcast we needed to start from first principles but then get into the core.

[@jasonstaub3045]

Excellent episode !!!!!

[@MrTno1TrickShot]

Mind blowing Peter, this is by far your best interview. Your work is immense as we move forward in a forever changing world. Congratulations and keep going. Keep standing on land mines😉🙏🏼🫶🏼👊🏼

[@boq81]

Mine-dancing becomes trendy. ✌

[@essexdrone6595]

Awesome! 💥 THIS BLOWS MY MIND

[@pamelaalford4685]

Excellent. Sending links to many in hopes it will clear some smoke!

[@b_tang]

Mind-bending conversation

[@BanksterSlayer]

My fave line at marker 44:44: People spend most of their time reinforcing the very system they hate. Vote Left or Right, it doesn't matter. You are working WITHIN that broken system. Your work is REINFORCING that broken system. You must EXIT that system because IT cannot be changed.

[@endthefed5304]

Because the current system of money is based on debt being created out of thin air and the interest payment on that debt is not created when the money is printed, therefore the next creation of money has to be greater to include the interest payment for the previous creation of money... Fractional reserve lending is the problem.

[@endthefed5304]

Great observation!

[@jakaciman2620]

The best episode ever.How long will it take to get to truth,how to make this process faster.

[@vonnykintore]

I get home and I find this episode with Jeff!!! thank you guys!! great great work......super encouraged

[@betterdays7613]

This great interview came at a perfect time to keep the drive alive. All the politics, bad practices and control issues surrounding BTC seem like a comedy, drama series, but not a horror story, to those of us waiting on cold storage. Thanks for hosting guys ! Good luck in the Great White North.

[@markkelly4804]

Jeff Booth gives me more confidence in Bitcoin than any other person. He has authenticity, and abstracts everything out to first principles. Ideas from first principles - like bitcoin - always beat those competing ideas not from first principles.

[@CorruptedEditz]

Damn, seeing this just uploaded made me shout with joy!

[@P__114]

I’m so excited for this

[@vvmenno]

Mindblowing guys! It is not getting any better than this.

[@jonburkhartsmeyer386]

Dang this interview was great!

[@pat_attack]

2 great minds (3 including Danny). Brilliant interview.

[@Chandru.T]

WOW… great interview..

[@nickavlonitis6116]

aligning with Jeff's BTC 2nd-layer prediction, boracay island (philippines) has ~100 shops/services/sari/bus adopting lightning network. remittance service too.

[@coocoocachooglin]

Interested to see this. I've been trying to get my wife's family in the Visayas interested, they don't even have bank accounts, but when there is a need, we can send fiat via western union. The problem is, having a way to send btc, then for them, being able to offramp to fiat, because right now everything is fiat, however, adoption and transition is a challenge. As Peter says, he transacts in fiat, but has one foot in btc for the future. I'm curious what are the main lightning apps people are using in Boracay ? I myself use Strike to buy and send to cold storage, I don't even use it for payments of things at this point. But I would be interested in using it for remittance, the problem is them using it on that side. As it is right now, they go to a money changer and get charged a ridiculous fee to convert btc to fiat.

[@jumpatoylit3655]

Great podcast

[@derek.seaborn]

You’ve had some of my favourite guests lately. Thanks!

[@still1.]

So good!

[@westra4]

Thanks Pete and Jeff. Let’s walk to the new system.

[@Sovtoshi_alt]

Jeff is pure signal

[@aldo_antinori]

Jeff is an international treasure

[@frankjoy2455]

Guys, focus please: adoption will come when you don’t need a 12-24 words seed phrase you can lose and you don’t need to copy paste long addresses etc. Just simplify the user interface to begin with. Then wait for regulation (not btc regulation but institutional regulation)

[@r4yleung]

Mind blowing interview. BTC healing the world gave me goosebumps

[@CIGAR4686]

This is Jeff Booths greatest interview 👍🏿👍🏿

[@Alwayslearning426]

Pure signal here! Much gratitude for this information! Let's get out of the old system! Great job! Thanks!

[@MikeStillUK]

Who’s Mike? 😅

[@jimnichols5584]

I learn more every time I listen to or read something by Jeff. This podcast needs to be shared everywhere to speed up the transition. Thanks

[@RadagastilBruno666]

Fantastic

[@SpringismySeason]

Jeff has an amazing mind. It would be nice to have his article you referenced in the description box. Nevertheless, I'll hunt it down.

[@RedBeardOps]

I want some detailed videos that systematically go though ETH's weaknesses and failure points. Cheers yall, love the show!

[@mg4u4ever]

well. easy. ETH is POS now and kzbin.info/www/bejne/n5yzn6VoaM1qp8k is all you need to show why it is systematically flawed "as money"

[@philfortner1805]

ETH is centralized, so it can be shut down tomorrow. ETH can be created and destroyed at will of leadership, raising or lowering it's value at any time. ETH contracts can be edited after the fact at the will of leadership. It's exactly fiat wearing a rubber crypto mask. And the mask smells all rubbery. Nasty.

[@Newhuman4444]

Please have someone who understands ETH and debate with them. It’s very easy to make overarching statements without any metrics or details to back it up

[@dingfeldersmurfalot4560]

Matt Kratter has some.

[@boq81]

I hear Buterin talk and I smell socialism.

[@doubleslit3389]

I’d pay $100 to hear a discussion with Jeff Booth and Yanis Varoufakis.

[@mandog-FYT]

The future's so Bright!

[@ck35478]

This connected some thing for me. I'll be thinking about this for a while.

[@cjmilburn8343]

Seriously this guy is next level - Jeff Booth is hope. Bitcoin is hope. It's going to be ok guys.

[@azdjedi]

1:15:40 You're not alone, Peter. It was a really good episode.

[@DanielGonzales-di6tq]

Jeff blew my mind at pacific Bitcoin and in this podcast

[@daschnad8895]

I instantly bought more bitcoin after watchinhg this video. Jeff is so good at explaining such difficult things.

[@senorgringopapi2059]

Smart man!

[@EthanMiller1]

Man, I love this guy. I bought his book for a few people. Unfortunately it didn’t convert them to Maxis, like I. Oh well.

[@ChrisvP]

Jeff "who wants to think about this everyday.." ME ME ME. I do! I can't go back.

[@flyingsnow311]

If money becomes pure Digital without any cash in the Systems can't work bcz - what happen if a Blackout appears, what if whole countries will be blocked being a part and having access to the system? What if data "get lost or manipulatet ??

[@richardwilson57]

would be amazing to get Jeff and Bitboy to debate ETH and BTC as money......

[@mr.p7616]

I’ve been a big follower of Jeff for sometime. I would love to hear a counter argument from someone like a vitalik. Maybe not so much of an argument as how the two can coexist and why both are necessary. My understanding from Jeff is, if its not built on BTC, it won’t last because it’s centralized. (Makes sense) is there another point of view?

[@bitcoinpoemspro1406]

Always love Jeff’s insights

[@gloriamariadc7757]

His TV purchase example is 700$ vs 2000$ 2 yrs prior.. meaning a better newer tv for a fraction of price.. I got confuse w/ his use of word “ridiculous”. He meant cheap, not more costly.

[@qorazx]

One argument that is always brought up is that inflation is required for consumer spending. If we would be in a deflationary environment we wouldn't spend our money but rather save it to wait for things to become cheaper and cheaper. How do you see this? Is it really a harm for the economy?

[@Derek.Melchin]

36:15 - Why does each additional user on ethereum make it more centralized?

[@Derek.Melchin]

Nvm, found the answer at 38:08

[@azdjedi]

10:00 I don't understand this part.

[@grantroberts4231]

love Jeff. read his book, but i barely understood a word of this. “system, system, system….” i need an interpreter. anyone have a TL;DR?

[@RotationFSX]

I like Jeff Booth. He has that voice like a pilot..

[@rupaw]

The whole argument breaks down around 59:10 Almost nobody does 5-Whys. Normies are so used to Inflation that they associate it more with their next pay-rise than with "theft" or "extortion". Resistance to change is far greater than curiosity about new ideas. It takes a catastrophic finance collapse before the mainstream gives Bitcoin a chance. And even then, many would just opt into another version of fiat currency. Old habits are hard to break.

[@pauline9085]

Very interesting. In the vedic perspective, it's the same prediction. Prashant Trivedi has been saying for a couple of years now, we are transitioning from the age of ignorance to the age of clarify. In the near future, societal structures will be very different as what you see as government are not longer exist the same way.

[@mbseeking6570]

You should interview Professor Richard Werner just ot hear what he has learned about how banks and credit money works.

[@itssteve6018]

Nah. Werner is an MMT nut. Jeff Snyder has a much better understanding of the system.

[@__lancaster]

Watching Peter barely able to follow Jeff is like looking into a mirror and reminding me of that Year 9 maths class when I was nodding furiously with eyes slightly glazed over knowing full well that the content was disappearing at a rapid rate right over my head. Good times.

[@motopolak]

This is how I feel too sometimes. Jeff is on another level!

[@alexandrelamarre7586]

In Code We Trust.

[@endthefed5304]

If you could strategically pick, say, 10 or 20 nations that would best complement each other's goods and services, and have them move to the Bitcoin standard, wouldn't that speed adoption? It seems like it would allow them to form a cohesive set of trading partners who could get off the Fiat grid and thrive.

[@snoopdobb]

Another great episode, but I did find some fundamental misunderstandings around Ethereum disappointing. Ethereum was definitely NOT created to focus on Scalability, nor do additional users increase centralization. Nevertheless, your Bitcoin guests and content is fantastic, keep up the great work!

[@SAL-fs1mr]

I remember being able to run an eth full node back in the day when very few people used it. Now with many more users, running an eth full node is very challenging. That's an example of it becoming more centralized with more users.

[@GLCstaked]

@@SAL-fs1mr not challenging at all, its super easy there's over 12k unique solo-validators on the network (this is after excluding centralised operators), each one has to run a full node.

[@jp34604]

Guys you missed the point which was that as the staking pools become larger the VOTEING concentration becomes higher and the security is drastically reduced as there are now barely a dozen pools with the vast majority of the tokens this is undeniable remember validators are not full nodes

[@gloriamariadc7757]

This is the guy that Orange pilled me. His book is amazing! Jeff Booth

[@Alejandro_btc]

One of the best interviews i have ever seen. Thank you.

[@Jimmybob21]

Nice :)

[@WhatBitcoinDid]

Thanks 😁

[@stereodachs]

Pure rational stuff . Jeff is amazing 😻

[@ror3999]

51:05 is all you need to understand

[@cesuntbanii]

Whoa... whant else can I say after listening to Jeff...?!

[@robertrobert6665]

The view from 50,000 no 500.000 feet! Looks clear...full speed ahead.

[@kestreljc1559]

I would love to hear Jeff's critique of Monero. I've not, to date, heard a convincing case that BTC is a better money than XMR. I can't get past the fungibility issue.

[@SAL-fs1mr]

I'm not sure what Jeff's critique would be. But for me, the inability to verify the coin supply with only simple addition really bothers me about monero. It is possible for there to be an undetected inflation bug evaporating your wealth overnight.

[@ashmanz]

Monero is not scalable. The end.

[@cypherhoax2010]

I struggle with the fungibility argument as well. Elasticity is another difficulty I haven’t found a credible argument in a game theory sense.

[@alexanderg9670]

Unfortunately, it's unlikely that wages will be sticky after hyperbitcoinization, sticky wages are a profit vector in inflation environment. In deflation environment I predict slippy wages as preservation of the profit vector - difference between preying even less that your product got cheaper Wealth inequality will skyrocket, make sure to learn to save early Why wealth inequality will grow faster than today with sound money? Its growth rate depends on global economic growth, but theft that Jeff is talking about artificially allows while economy

[@peterconley5533]

Drink every time Jeff says the word "system"

[@mathu991]

But we haven’t invested in energy