Stephan Livera Podcast

In this episode, Stephan Livera discusses with Jay & Matt the evolution of Lygos Finance, a company formed from the acquisition of Atomic Finance, focusing on decentralized lending using Discreet Log Contracts (DLCs). The conversation explores the growth of the Bitcoin collateralized lending market, the unique position of Lygos in offering non-custodial loans, and the role of Oracles in determining loan outcomes. The hosts delve into the flexible loan terms and competitive interest rates offered by Lygos, as well as the platform's global reach and future developments in user experience and funding mechanisms.Takeaways:🔸The merger of Atomic Finance and Lygos and its significance for DLC lending🔸How DLCs work in a lending context: simplified signatures and outcomes🔸Advantages of DLCs over traditional custodial lending platforms🔸The role of oracles: Magnolia as a third-party verifier🔸Speed improvements with adapter signatures and upcoming hardware wallet support🔸Market size and growth of Bitcoin collateralized loans (over $25 billion)🔸Comparison of DLCs versus custodial and multi-sig lending solutions🔸Extending and rolling over DLC loans seamlessly🔸UX considerations: transparency, privacy, and future seamless fiat/stablecoin onboarding🔸Potential impacts of future Bitcoin upgrades like Taproot or Covenant support🔸How DLCs support global, trust-minimized, and scalable lendingTimestamps:(00:00) - Intro(00:40) - From Atomic Finance to Lygos Finance (04:02) - What is the size of the Bitcoin lending market? (05:33) - Unique position of Lygos in the DLC space; Requirements for DLCs by hardware wallets(08:20) - What is a DLC?; How does DLC work in the Bitcoin loan context?  (12:49) - How is Lygos different from other Bitcoin lending platforms? (16:44) - What is the role of an oracle in Lygos? (20:53) - What does taking a loan with Lygos look like?; Loan terms, interest rates & collateral requirements (32:10) - Global reach of Lygos; How are the loans funded? (35:33) - Is UX a major factor in developing Lygos? (40:02) - Possibility of future Bitcoin upgrades and their impact on DLCs(44:48) - Closing thoughts Links: https://x.com/matthewjablack https://x.com/LygosFinance https://www.lygos.finance/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

I was joined by Peter Schiff, Piero Coen, Skot at Plan B Elsalvador as we discussed Gold vs Bitcoin, AI & a multipolar world, Bitcoin as freedom money for Latinos and open-source mining decentralizing Bitcoin.Takeaways:🔸Bitcoin and gold are often compared as stores of value.🔸Recent market movements have raised questions about the stability of gold and silver.🔸Central banks are increasingly buying gold, indicating a shift in demand.🔸The US dollar's status as a reserve currency is being challenged.🔸AI has potential to increase productivity but may not solve economic issues.🔸Peter Schiff remains skeptical about Bitcoin's long-term value.🔸Wall Street's involvement has influenced Bitcoin's popularity.🔸Bitcoin requires continuous new buyers to maintain its value.🔸The transition to Bitcoin-only solutions is gaining traction.🔸Building local exchanges is crucial for Bitcoin adoption in Central America.Timestamps:(00:00) - Gold vs Bitcoin ft.Peter Schiff(28:30) - Bitcoin breaks banking exclusion for Latinos ft. Piero Coen(58:50) - Open-source Bitcoin mining ft. SkotLinks: https://x.com/PlanBElsalvador https://x.com/PeterSchiff https://x.com/piero_coen https://x.com/osmo_money https://x.com/skot9000 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, the discussion revolves around Breez's innovative SDK and its nodeless implementation, which simplifies the integration of Bitcoin and Lightning into applications. The guests share their experiences from the ‘Time to Build’ challenge, highlighting the ease of use and the potential for new applications in the Bitcoin ecosystem. Brianna discusses her social events platform, Evento, and how it leverages the Breez SDK to facilitate peer-to-peer value exchange. Aljaz shares insights on developing a BTC Pay plugin that enhances payment processing without the need for a full Lightning node. The conversation also touches on user experience design, the role of vibe coding in development, and the growing excitement around Bitcoin and Layer 2 solutions.Takeaways:🔸Breez SDK simplifies Bitcoin integration for developers.🔸Evento aims to create a fair events platform without high fees.🔸Breez's node-less implementation reduces complexity for users.🔸User experience is crucial for onboarding non-Bitcoiners.🔸Vibe coding allows for rapid development and experimentation.🔸Brianna emphasizes the importance of user feedback in design.🔸Aljaz's BTC Pay plugin streamlines payment processing.🔸Liquid and Spark offer different trade-offs for developers.🔸The Bitcoin ecosystem is seeing renewed interest and innovation.🔸The future of Bitcoin payments looks promising with new tools. Timestamps:(00:00) - Intro(01:04) - Overview of ‘Time to Build’ challenge(02:07) - What is Breez Nodeless SDK?(03:09) - Brianna’s experience of building Evento using Breez SDK(09:02) - Aljaz’s BTCPay Server plugin(12:48) - How does Aljaz’s BTCPay plugin help the end user? (16:00) - What does implementing the plugin unlock? (19:23) - Vibe coding Bitcoin payments with Breez SDK(21:30) - AI, MCP and documentation(24:54) - UX and design considerations for Evento(29:47) - Evento wallet (34:07) - Comparing Liquid & Spark implementations(35:23) - Excitement around Bitcoin and L2 developments(41:14) - Closing thoughts Links: Brianna: https://x.com/briimhd Danny: https://x.com/dannystaggAljaz: https://x.com/aaaljaz  Evento: https://x.com/evento_so Breez: https://x.com/breez_tech Aljaz site: https://disobey.dev/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Jonas Nick discuss the implications of quantum computing on Bitcoin's security, focusing on the risks posed to cryptographic signatures. They explore the current vulnerabilities in Bitcoin, the potential for quantum attacks, and the need for post-quantum cryptographic solutions. The discussion covers various signature schemes, including hash-based signatures, their trade-offs, and the challenges of transitioning to a quantum-resistant Bitcoin. They also touch on the implications for hardware wallets, multi-signature schemes, and the potential need for block size increases to accommodate new signature sizes.Takeaways:🔸Quantum computers pose a real risk to Bitcoin's cryptography.🔸Current Bitcoin signatures are vulnerable to long-range attacks.🔸Hash-based signatures are significantly larger than current signatures.🔸Transitioning to quantum resistance will require careful planning.🔸The Bitcoin community must reach a consensus on new schemes.🔸Verification costs will increase with new signature schemes.🔸Hardware wallets will need to adapt to new signature requirements.🔸Block size discussions may need to be revisited in light of quantum risks.🔸The timeline for quantum computing advancements is uncertain.🔸A gradual transition to quantum resistance may be necessary. Timestamps:(00:00) - Intro(01:49) - How real is quantum risk to Bitcoin?(04:39) - When could quantum pose a threat to Bitcoin’s cryptography? (09:56) - Long range vs Short range attacks(12:37) - How many coins are vulnerable to Long range attacks?(14:12) - Different types of cryptography and exploring Hash-based signature schemes(17:00) - Categories of Hash-based signature scheme and their pros & cons(23:42) - How do Hash-based signatures work? (32:14) - Would Lightning, Multi-sig, Taproot, Silent Payments, Atomic swaps work in a post-quantum world? (38:50) - What are Adaptor signatures & how do they affect atomic swapping? (41:27) - Will we need new Bitcoin hardware wallets?; Signature production & verification (44:41) - Signature size and Bitcoin block capacity implications(46:52) - Should we revisit the block size conversation? (54:57) - Overview of SPHINCS+ & SHRINCS(59:49) - Transitioning to post-quantum signature schemes; Overview of BIP 360(1:09:06) - Closing thoughtsLinks: https://x.com/n1ckler Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Arnab Naskar from Stokr discusses the intersection of Bitcoin, tokenization, and capital markets. He explains how Bitcoin serves as both a store of value and a settlement layer, enabling the creation of decentralized financial systems. The discussion covers the advantages of using Liquid for tokenization, the importance of confidentiality in transactions, and the innovative financing opportunities in energy and Bitcoin mining. Arnab emphasizes the systemic shift in financial markets due to tokenization, the role of stablecoins, and the future of decentralized finance on Liquid.Takeaways:🔸Bitcoin serves as a store of value and a settlement layer.🔸Stokr focuses on tokenizing financial assets on Liquid.🔸Liquid offers confidentiality and stability for tokenized assets.🔸Tokenization can reduce the need for intermediaries in finance.🔸The market for tokenized securities is rapidly growing.🔸Energy infrastructure financing is a key area for innovation.🔸Tokenization opens up investment opportunities globally.🔸Users can trade tokenized assets seamlessly on Liquid.🔸The future of finance will involve both DEXs and centralized exchanges.🔸Tokenization represents a systemic shift in capital markets.Timestamps:(00:00) - Intro(00:59) - Who is Arnab and what is Stokr? (02:29) - Isn’t Bitcoin enough? (04:44) - How and why is Stokr different?; The importance of Liquid Network (08:35) - How does Liquid compete with other chains for tokenization of assets? (11:54) - What is CMSTR?(15:01) - Does Stokr help finance SMEs & traditional businesses?(18:23) - What is Blockstream Mining Note (BMN)? (24:34) - Trust minimising the ownership of securities; Whitelisting process (28:57) - How big is Liquid Network? How does it fare compared to other asset platforms? (33:43) - Who are the customers of Stokr’s tokenized products? (37:34) - What does the interface between Stokr and the end user look like?; The @Blockstream edge(46:11) - Is TradFi embracing tokenization of assets?; Will Bitcoin be the base layer for tokenization?(56:25) - Closing thoughts Links: https://x.com/Arnab_Naskarr https://x.com/stokr_io https://blog.liquid.net/cmstr-note-tokenizing-public-stock-on-liquid/https://mining.blockstream.com/finance/bmn/  Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode Dave Lund, CEO of FlowRate, discusses the emerging concept of yield in the Lightning Network. Dave shares his background in the Bitcoin space and explains how FlowRate aims to bridge the gap between traditional treasury management and the Lightning ecosystem. He emphasizes the importance of liquidity leasing and routing fees as potential yield strategies for Bitcoin treasury companies, highlighting the need for businesses to adapt to this new financial landscape. The conversation explores the challenges and opportunities that come with operating on the Lightning Network, particularly for institutional players looking to maximize their Bitcoin holdings.Dave also elaborates on the significance of network topology in the Lightning ecosystem, explaining how a well-positioned node can enhance yield potential. He also addresses the security concerns that treasuries face when deploying Bitcoin on Lightning, advocating for improved security measures such as multi-signature solutions. Dave predicts that liquidity leasing could eventually replace the traditional bond market, positioning Bitcoin as a viable fixed-income asset.Takeaways:🔸Dave Lund emphasizes the potential of Lightning as the new telecom industry.🔸Treasury companies are seen as key players in deploying capital on Lightning.🔸Liquidity leasing is highlighted as a reliable yield strategy.🔸Topology is crucial for effective Lightning operations.🔸The conversation compares Lightning yield to traditional bond markets.🔸Dave Lund discusses the challenges of security in Lightning deployments.🔸FlowRate aims to simplify Lightning onboarding for businesses.🔸The episode explores the evolving landscape of Bitcoin yield strategies.🔸Dave Lund predicts liquidity leasing could replace the bond market.🔸The importance of starting early in Lightning operations is stressed.Timestamps:(00:00) - Intro(01:14) - Who is Dave Lund?(02:44) - What is FlowRate?; Basic building blocks of ‘Yield on Lightning Network’(06:31) - Dave’s view on Bitcoin Treasury Companies; ‘Yield per deployed sat’(10:23) - Real world examples of yield from Lightning Network - Cash App, LQWD Tech(15:22) - What are the possible challenges and opportunities in Lightning deployment?(18:46) - What does FlowRate offer? (22:54) - How can BTCTC benefit from the yield generation via Lightning?(25:37) - What are the costs involved to operate the Lightning yield profitably? (32:56) - Lightning Network topology and its impact on lightning efficiency(38:02) - Will the customers of FlowRate have their own Lightning node?(41:59) - The importance of security in managing Bitcoin(45:05) - Who can benefit from FlowRate? (47:41) - Closing thoughts Links: https://www.flowrate.com/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Matt Cole discuss the rapid growth and strategic developments of Strive, a Bitcoin treasury company, particularly following its merger with Semler Scientific. They explore the implications of this merger, the importance of institutional interest in Bitcoin, and the strategies for managing debt and generating yield. The discussion also touches on the competitive landscape of Bitcoin treasury companies, the role of digital credit, and the future outlook for Bitcoin in the context of increasing institutional adoption and market dynamics.Takeaways:🔸Strive has rapidly grown its Bitcoin holdings through strategic mergers.🔸The merger with Semler positions Strive as a leading Bitcoin treasury company.🔸Institutional investors are increasingly interested in Bitcoin treasury companies.🔸Strive aims to generate a significant Bitcoin yield for its investors.🔸Managing debt effectively is crucial for Strive's future growth.🔸The healthcare business from Semler will be monetized within a year.🔸Acquisitions in the Bitcoin treasury space are strategic and not frequent.🔸Understanding Bitcoin yield and amplification is key for investors.🔸Digital credit is a growing area within Bitcoin treasury companies.🔸The future of Bitcoin looks promising with increasing institutional adoption.Timestamps:(00:00) - Intro(01:37) - Strive’s growth and developments (05:54) - What do institutions look for when investing in a BTCTC?; Reverse stock split (09:08) - How will Strive manage its debt?; Amplifying Bitcoin exposure  (13:22) - How will Semler Scientific be monetized? (17:06) - Accelerating Bitcoin yield through SATA; Possible future M&A(22:53) - Structuring a merger of a BTCTC (26:30) - Valuing a BTCTC and mNAV considerations(34:46) - Matt's take on Danny Knowles's interview with Michael Saylor(39:54) - Should every BTCTC engage in financial engineering? (44:18) - Differentiation in Bitcoin treasury companies(48:40) - What is the difference between SATA and STRC?(53:38) - Who is SATA for? (57:49) - Which are the pools of capital that can’t directly buy Bitcoin?(1:01:41) - Have BTCTC cannibalized the on-chain use of Bitcoin?(1:04:34) - Outlook for Bitcoin in 2026Links: https://x.com/ColeMacro https://x.com/Strive Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Dr. Padraig Corcoran discusses his research on Bitcoin as a medium of exchange, focusing on the use of spatial data from OpenStreetMap and BTC Map. He explores the dynamics of merchant adoption, the role of community initiatives, and the implications for policymakers. The conversation highlights the importance of grassroots movements in promoting Bitcoin usage and the potential for growth in merchant acceptance as technology improves.Takeaways:🔸Bitcoin serves multiple purposes: unit of account, store of value, medium of exchange.🔸OpenStreetMap is a crowdsourced geographical data project.🔸BTC Map helps identify merchants accepting Bitcoin.🔸Adoption of Bitcoin as a medium of exchange is growing.🔸Quality of crowdsourced data can vary significantly.🔸Community initiatives play a crucial role in Bitcoin adoption.🔸Government policies do not directly influence merchant adoption.🔸The Lightning Network is vital for facilitating Bitcoin transactions.🔸Merchants often accept Bitcoin to attract a specific customer base.🔸Bitcoin can function as both a store of value and a medium of exchange.Timestamps:(00:00) - Intro(01:08) - Dr. Padraig Corcoran’s background & his research on Bitcoin and Spatial Analysis(02:31) - OpenStreetMap; Pros & Cons of crowdsourced geographical data(06:19) - How did BTC Map use OpenStreetMap to represent Bitcoin merchants?(10:08) - What are the insights from analysing the adoption of Bitcoin as a medium of exchange? (15:25) - Nation level vs. Grassroots Bitcoin adoption; Bitcoin circular economies(18:37) - Bitcoin adoption in El Salvador vs Berlin(19:51) - Are merchants accepting Bitcoin without them knowing about it? (23:14) - What are the factors influencing merchant adoption?; Learnings for policymakers from Dr. Padraig’s research(25:19) - What kind of Bitcoin businesses are on BTC Map?(27:49) - Is Bitcoin only for savings?  (32:30) - What should Bitcoin builders focus on?(33:34) - What is Dr. Padraig’s perception of Bitcoin as money?(35:23) - Closing thoughtsLinks: https://x.com/pcorcoran9 https://x.com/btcmap/status/1993737818271633638 https://link.springer.com/article/10.1186/s40854-025-00871-z Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, I discuss with Nate the current state and future prospects of the Lightning Network as of December 2025. They explore various aspects such as payment success rates, public perception versus practitioner insights, routing fees, centrality in nodes, yield opportunities, privacy considerations, and the overall adoption of the Lightning Network. The discussion highlights the improvements made over the years, the economic incentives for node operators, and the importance of community-driven initiatives in shaping the future of the Lightning Network.=Takeaways:🔸The Lightning Network has improved payment success rates over time.🔸Public perception of the Lightning Network often differs from actual usage statistics.🔸Routing fees are crucial for maintaining liquidity and economic incentives in the network.🔸Centrality in Lightning nodes affects payment success and routing efficiency.🔸Yield opportunities exist for those operating Lightning nodes.🔸Adoption of the Lightning Network is expected to grow as more enterprises recognize its benefits.🔸Privacy in Lightning transactions is nuanced and requires careful management.🔸Innovations in Lightning technology continue to enhance user experience and functionality.🔸The future of the Lightning Network may involve more integration with traditional financial systems.🔸Community-driven initiatives are essential for the growth and improvement of the Lightning Network.Timestamps:00:00 Intro02:53 Current State and Performance of the Lightning Network05:58 Public Perception vs. Practitioner Insights08:53 Routing and Payment Success Rates11:55 Fee Structures and Yield in Lightning Network14:56 The Evolution of Lightning Node Operations17:56 Centralization Concerns in the Lightning Network27:45 Hub and spoke model?30:14 Privacy Concerns in Lightning Network32:41 The Centralization Debate in Lightning Network35:43 Merchant Adoption of Bitcoin Payments38:47 The Role of Bitcoin as a Medium of Exchange40:53 Exploring Lightning Network Implementations45:36 Recommendations for Different User Types50:45 Comparing Lightning Network with Alternative Solutions54:52 Enhancing Bitcoin's Functionality57:37 The Future of Bitcoin Development59:59 Bitcoin Myths and Misconceptions01:02:08 The Importance of Bitcoin Ownership01:06:05 Lightning Network Adoption and Innovations01:11:01 Privacy in the Lightning NetworkLinks:https://x.com/BeefOrBacon1http://billandkeonne.org/https://learn.robosats.org/Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, B10C discusses his work in the Bitcoin ecosystem, focusing on the importance of censorship resistance, the role of mining pools, and the implications of OFAC sanctions on Bitcoin transactions. He introduces the Peer Observer project aimed at monitoring the Bitcoin network for anomalies and attacks, and highlights the need for a collaborative approach to Bitcoin network operations through the Bitcoin Network Operations Collective.Takeaways:🔸B10C has been working on Bitcoin open source projects since 2021.🔸Research on mining pools reveals they may filter out certain transactions.🔸Censorship resistance is a key feature of Bitcoin that needs monitoring.🔸The Bitcoin network lacks a professional monitoring system compared to large companies.🔸The Peer Observer project aims to detect attacks on Bitcoin nodes.🔸Monitoring tools can help identify anomalies in the Bitcoin network.🔸The Bitcoin Network Operations Collective is a forum for collaboration on network monitoring.🔸Compact block relay improves block propagation efficiency.🔸Different mining pools have varying policies on transaction inclusion.🔸The future of Bitcoin monitoring relies on community collaboration.Timestamps:(00:00) - IntroLinks: https://x.com/0xb10c https://b10c.me/ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode the discussion revolves around the BOSS program (Bitcoin Open Source Software), which offers a 30-day series of technical programming exercises aimed at engaging participants in Bitcoin protocol development. The guests, Satsie, Sangbida, and Ron, share their backgrounds, motivations for joining the program, and experiences throughout the challenges. They discuss the impact of the program on their careers, the importance of community support, and the unique environment of open source development. The conversation also touches on the challenges of grant applications and the mindset required to succeed in this field. The episode concludes with advice for potential participants, encouraging them to take the leap and apply for the program.Takeaways:🔸The BOSS program is a free opportunity for learning Bitcoin development.🔸Participants come from diverse backgrounds, including IT and finance.🔸The program is gamified to keep participants motivated.🔸Community support is crucial for success in the program.🔸Contributing to Bitcoin open source is seen as ethical and impactful.🔸The experience in open source differs significantly from corporate environments.🔸Grant applications require a proactive approach and clear proposals.🔸Imposter syndrome is common but can be overcome with dedication.🔸Feedback from the community is direct and valuable for developers.🔸Working in open source can lead to fulfilling and autonomous careers.Timestamps:(00:00) - Intro(01:21) - What is the BOSS program?; Sangbida & Macgyver’s journey with BOSS(04:07) - Participant’s motivation & experiences with the BOSS program(09:00) - What are the career opportunities for Bitcoin developers after the BOSS program? (12:57) - Challenges of learning & working in open source(16:53) - What are Sangbida & Macgyver currently working on?(18:25) - What is it like applying for grants and funding in open source?(19:48) - Sponsor(23:12) - The role of community engagement in open source(25:16) - Skills and mindset required to thrive in open source(30:23) - Working in Bitcoin - passion vs. reality(38:13) - Closing thoughtsLinks: https://x.com/satsie https://bosschallenge.xyz/ https://bitcoindevs.xyz/ https://x.com/Bitcoin_Devs BOSS Challenge: https://x.com/i/status/1996282354969858301  Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Davidson, a Bitcoin developer, discusses his project Floresta, which aims to provide a lightweight Bitcoin node solution that balances privacy, security, and usability. He explains the technical aspects of Floresta, including its architecture, the use of compact block filters, and its relationship with Utreexo. Davidson emphasizes the importance of making Bitcoin more accessible to non-technical users while maintaining security and privacy. The discussion also touches on the challenges of running Bitcoin nodes, the potential integration of Floresta with existing applications, and the future of Bitcoin technology.Takeaways:🔸Floresta aims to provide lightweight Bitcoin nodes with better trade-offs.🔸The project is designed for non-technical users who want to run their own nodes.🔸Privacy and security are key concerns in Bitcoin transactions.🔸Floresta uses compact block filters to enhance user experience.🔸The architecture of Floresta allows for easy integration with existing wallets.🔸Proof of work fraud proof offers a new way to validate blocks.🔸Floresta is a library that can be embedded in other applications.🔸User experience is crucial for wider adoption of Bitcoin technology.🔸Feedback from users is essential for improving Floresta.🔸The project has received positive reception, indicating a demand for lightweight solutions.Timestamps:(00:00) - Intro(01:04) - Who is Davidson Souza? (01:39) - What is Floresta?(03:40) - Floresta tradeoff for the end user (08:08) - How does a Utreexo-powered Electrum server work?; Neutrino (BIP 157,158) (12:00) - Feasibility for mobile devices(14:47) - Which script types does Floresta support? (15:50) - Who is the target audience of Floresta? (20:18) - Could Floresta be built into existing Bitcoin phone apps?  (22:22) - How does Floresta work? (27:53) - What’s the goal of ‘Proof of Work Fraud Proof’?(29:26) - Sponsor(34:24) - Who are ‘honest miners’?(36:05) - Proof of Work Fraud Proof vs. SPV vs. IBD model (42:50) - The relationship between Floresta and Utreexo; Rich nodes & compact state nodes(51:12) - What will be the cost & accessibility challenges to run a Floresta node? (56:23) - Is Floresta compatible with Bitcoin’s Layer 2 protocols? (59:15) - Using Floresta in real life(1:01:32) - Closing thoughts Links: https://x.com/Erik17192799 https://github.com/vinteumorg/floresta https://blog.dlsouza.lol/2023/09/28/pow-fraud-proof.html https://blog.dlsouza.lol/2023/09/28/new-floresta-wire.html Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Kevin Loaec discuss the challenges and advancements in self-custody and multi-signature (multisig) wallets for businesses. They explore the reasons why many businesses are hesitant to adopt self-custody, including regulatory constraints and the current limitations of available tools. The discussion highlights the evolution of multisig, the risks associated with centralized custodians, and the introduction of Liana Business as a tailored solution for businesses looking to implement multi-sig setups. They also dive into the importance of defining roles within a multisig framework, the mechanisms for recovery, and the future of recovery paths in Bitcoin. Kevin also shares various aspects of Bitcoin custody, focusing on time locks, key management, and the importance of recovery pathways for businesses. He emphasizes the need for user-friendly solutions that mitigate risks associated with key loss and the complexities of managing multiple wallets. The discussion also touches on the role of insurance in Bitcoin custody, the potential threats posed by large custodians, and the challenges of maintaining privacy while reusing keys across different setups. Takeaways:🔸Businesses often avoid self-custody due to regulatory concerns.🔸The tools for self-custody are still not user-friendly enough for many businesses.🔸Multisig wallets have evolved but still require technical knowledge.🔸Centralization of funds in custodians poses significant security risks.🔸Liana Business offers tailored solutions for business self-custody needs.🔸Recovery pathways are crucial for ensuring access to funds.🔸Insurance options can mitigate risks associated with key loss.🔸Employee turnover can complicate key management in businesses.🔸Replay protection is essential to prevent loss during forks.🔸Future corporate custody solutions may involve hybrid models with banks.Timestamps:(00:00) - Intro(01:06) - Why aren't businesses doing self custody right now? (02:55) - Evolution of multisig and Hardware Wallets(07:51) - Are there centralization risks with custodians?(10:24) - What is Liana Business?(13:11) - Multisig configurations with Liana(15:24) - Is Liana business optimal for businesses of all sizes?(17:31) - How does Liana Business address role-based governance?(25:03) - What are some of the recovery mechanisms in Liana?; Recovery paths (29:04) - Understanding Time Locks and Wallet Management(31:02) - Sponsor(32:00) - Who are the key holders while setting up Liana business?; Insurance in Bitcoin custody(37:06) - How should businesses manage key loss?(38:47) - What are some of the threat vectors in Bitcoin custody? (41:07) - What are the privacy concerns with hardware key reuse? (48:23) - Seamless key management for businesses(53:40) - What is Liana business’s USP?(55:27) - What is the future of corporate Bitcoin custody? (58:49) - Balancing convenience and security in Bitcoin custodyLinks: https://x.com/KLoaec https://x.com/lianabitcoin https://lianawallet.com/business/ https://x.com/wizardsardine Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Stephan Livera and Kevin Cai dive into the Bitcoin spam debate, breaking down the different camps in the community, the line between consensus and policy, and how transaction filters, dust limits, and Libre Relay affect the network. They explore mining economics, fee dynamics, and the subjective nature of what people call spam.Kevin also discusses UTXO consolidation, decentralization, and how BRC-20 activity impacts the fee market. He explains the cultural differences behind spam opinions and the broader implications for Bitcoin’s ecosystem.The conversation covers the challenges of Bitcoin development, including concerns around temporary fixes like RDTS, and why programmability matters for Bitcoin’s future utility.Takeaways:🔸The Bitcoin spam debate involves different camps with varying perspectives.🔸Consensus refers to the agreement needed for transactions to be valid, while policy is more subjective.🔸Libre Relay aims to align consensus with policy, promoting censorship resistance.🔸Filters can influence transaction behavior, but their effectiveness is debated.🔸Dust limits are a contentious topic, with arguments for and against their implementation.🔸Transaction fees are influenced by market dynamics and user behavior.🔸The Bitcoin network's resilience is tied to its decentralized nature and redundancy.🔸Subjective judgments about transactions can lead to disagreements within the community.🔸The future of Bitcoin transaction policies will likely evolve based on economic incentives and user behavior. I have a high time preference.🔸Blocking inscriptions is unlikely to succeed.🔸Libre Relay offers a low-friction solution for transactions.🔸The role of miners is driven by economic incentives. Temporary fixes may lead to wasted time and effort.🔸Bitcoin's permissionless nature allows for innovation without approval.🔸Auto-updates contradict Bitcoin's ethos of user control.🔸The RDTS poses risks to user transactions and programmability.🔸Confiscatory risks arise from the RDTS's limitations.🔸Programmability is crucial for Bitcoin's future applications.🔸Arbitrary data embedding is inherent to communication systems.Timestamps:(00:00) - Intro(01:49) - What are the different camps in this debate?(04:55) - What is consensus and how is it different from policy? (11:23) - Libre Relay and its role in Bitcoin(15:53) - Are certain transactions strictly harmful?(19:30) - Do Dust filters work?; Dust limits and their implications(29:59) - Orphan rates & mining dynamics(35:14) - What is Spy mining? (38:14) - Can all the small miners gather to punish spam on Bitcoin?; Decentralizing mining (43:40) - Do Bitcoin miners shape reality? (47:18) - Sponsor(48:13) - What constitutes spam in Bitcoin? (56:09) - Cultural perspectives on Bitcoin and spam(1:03:15) - Are miners short-term focussed?; Bitcoin’s robust fee market (1:11:39) - The unsustainable nature of hype (1:19:50) - What are the hardware costs of running a node?; Connectivity & accessibility for Bitcoin nodes(1:29:00) - Spam - incremental costs & time of transaction confirmation(1:36:40) - Is it cost & time intensive for spammers to run Libre Relay?(1:42:00) - What are the legal perspectives of data embedding in Bitcoin?(1:49:47) -  Is it feasible to block inscriptions?; Dilemma of temporary fixes(2:01:50) - Kevin’s thoughts on RDTS (Reduced Data Temporary Softfork)(2:21:53) - Is programmability important in Bitcoin?(2:27:40) - Closing thoughtsLinks: https://github.com/djkazic  https://x.com/ProofOfCash https://lightning.engineering/team/ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Carel Van Wyk discuss the evolution of Bitcoin as a medium of exchange, focusing on the role of MoneyBadger in facilitating Bitcoin payments across South Africa. They explore the journey of integrating Bitcoin payments into major retailers, the technological innovations that have made this possible, and the implications for merchants and consumers alike. The discussion also touches on the broader context of Bitcoin's role in the global payment landscape and the ongoing debate about its function as a store of value versus a medium of exchange. They explore the economic challenges faced by South Africans, the regulatory landscape, and the importance of demonstrating Bitcoin as a medium of exchange. The discussion also touches on the implications of capital gains tax, the strategies for promoting Bitcoin adoption, and the potential for Bitcoin to serve as a viable alternative to traditional payment systems. Carel emphasizes the urgency of using Bitcoin as money and the need for a shift in mindset among both consumers and regulators.Takeaways:🔸Bitcoin is now accepted at over 700,000 locations.🔸MoneyBadger aims to make Bitcoin a practical currency.🔸The Lightning Network has revolutionized retail payments.🔸QR codes play a crucial role in Bitcoin transactions.🔸Merchants are increasingly interested in accepting Bitcoin.🔸Training staff on Bitcoin payments is no longer necessary.🔸The integration of Bitcoin payments is gaining momentum in South Africa.🔸Comparative analysis of Bitcoin payment solutions globally is essential.🔸The debate between Bitcoin as a store of value and medium of exchange continues.🔸Merchant acceptance of Bitcoin is growing, driven by lower fees. The NGU factor includes hodling, lending, and borrowing.🔸Goals for Bitcoin adoption must be clearly defined.🔸South Africa faces unique economic challenges that Bitcoin can address.🔸Demonstrating Bitcoin as a medium of exchange is urgent.🔸Regulatory perspectives can hinder Bitcoin's adoption as money.🔸FATF regulations impact how countries approach Bitcoin.🔸Tax implications can create barriers to Bitcoin spending.🔸Top-down and bottom-up strategies can complement each other in adoption.🔸Familiarity with Bitcoin can lead to increased spending and saving.🔸The long-term vision includes establishing Bitcoin as a mainstream payment method.Timestamps:(00:00) - Intro(01:24) - Who is Carel van Wyk? (03:27) - The Journey of MoneyBadger(07:28) - Innovations in payment processing(11:32) - What is the role of QR codes in transactions?(15:43) - Merchant’s perspective on Bitcoin payments(20:20) - Comparing South African Bitcoin payments market with that of the U.S(23:21) - Bitcoin’s use case: Store of Value vs Medium of Exchange(29:55) - What is the impact of FATF regulations?; Bitcoin as money(32:57) - Sponsor(34:55) - What are the tax implications of spending Bitcoin?(37:12) - Top-Down vs. Bottom-Up adoption strategies; The psychology of spending Bitcoin(42:35) - The difference in volumes between Stablecoins vs. Bitcoin(44:49) - What are the growth trends in Bitcoin spending? (50:12) - What is Carel’s long term vision for Bitcoin adoption?(51:38) - Closing thoughts Links: https://x.com/carelvwyk https://x.com/MoneyBadgerPay https://www.moneybadger.co.za/ SLP441 Hermann (Bitcoin Ekasi) - https://youtu.be/IuodlCgXswM https://x.com/LunoGlobal https://x.com/blinkbtc/status/1986767746843939069 Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera interviews Gustavo Flores, the CEO and founder of Aureo, a Bitcoin startup in Mexico. They discuss Gustavo's journey in the Bitcoin space, the cultural differences he has observed while building in Mexico, and the unique financial landscape of the country. The conversation delves into the challenges of educating the Mexican population about Bitcoin and the various investment trends that are emerging in the region. Gustavo Flores also discusses the evolution of Aureo, a Bitcoin exchange in Mexico, and its mission to provide a premium, educational experience for investors. He highlights the regulatory landscape in Mexico and El Salvador, the differences between Aureo and crypto casinos, and the growing Bitcoin community in Mexico, including the establishment of La Casa de Satoshi. The conversation also touches on the challenges of raising capital and the importance of adapting to local cultures in the adoption of Bitcoin.Takeaways:🔸Gustavo Flores has a rich history in Bitcoin, starting from community involvement in Montreal.🔸He transitioned from mining and investing to launching startups focused on Bitcoin.🔸The Bitcoin community is diverse, with varying levels of technical understanding.🔸Cultural differences significantly impact Bitcoin adoption strategies in Mexico.🔸Libertarianism is not a prevalent ideology in Mexico compared to North America.🔸Only 3% of Mexican households have any financial instruments, highlighting a lack of financial literacy.🔸The wealthy in Mexico often keep their assets outside the country for protection.🔸Cash holding is common among the general population, with informal savings schemes prevalent.🔸The Mexican peso has shown stability, affecting perceptions of investment risk.🔸Education on Bitcoin and financial literacy is crucial for broader adoption in Mexico. Aureo aims to provide a personalized service platform for Bitcoin investors in Mexico.🔸The regulatory environment in Mexico is challenging for Bitcoin companies, making El Salvador an attractive option.🔸Aureo differentiates itself from crypto casinos by focusing on education and a Bitcoin-only message.🔸La Casa de Satoshi serves as a community hub for Bitcoin enthusiasts in Mexico City.🔸The Bitcoin Only movement is gaining traction in Mexico, with more companies and communities emerging.🔸Raising capital with a Bitcoin hurdle rate emphasizes productivity and efficiency in startups.🔸The experience of expats in Mexico is influencing the Bitcoin market.🔸Aureo's platform is designed to optimize the user experience for Bitcoiners.🔸The importance of understanding local cultures in Bitcoin adoption is crucial.🔸Gustavo encourages openness to different adoption paths for Bitcoin around the world.Timestamps:(00:00) - Intro(01:05) - Gustavo's Bitcoin journey(03:35) - Understanding the technical landscape of Bitcoin; Community dynamics(09:44) - Why is Gustavo building a Bitcoin company in Mexico?; Cultural differences (16:12) - The Mexican financial landscape(19:43) - Where do Mexicans invest their money? (23:15) - Mexican Peso debasement(24:24) - Sponsor(25:49) - What is Aureo?(28:04) - The El Salvador advantage with regulations(31:08) - How is Aureo different from crypto companies in Mexico?(34:51) - What is La Casa De Satoshi?(38:20) - The evolving Bitcoin movement in Mexico(41:50) - Raising capital with Early Riders; Bitcoin is the hurdle rate(46:30) - Closing thoughts on Bitcoin in MexicoLinks: https://x.com/gustavojfe https://x.com/AureoBitcoin https://www.aureobitcoin.com/en https://x.com/lacasadesatoshi Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Kevin Hurley, CTO and co-founder of Lightspark, discusses the Layer 2 solution called Spark, which aims to enhance Bitcoin's scalability and user experience. He shares insights from his journey transitioning from the Libra project to building on Bitcoin, addressing challenges faced with the Lightning Network, and the unique features of Spark, including its architecture, user experience, and future developments. The conversation also touches on trust, privacy, tokenization, and the importance of community engagement in the Spark ecosystem.Takeaways:🔸Spark aims to provide a scalable and user-friendly Layer 2 solution for Bitcoin.🔸The transition from Libra to Bitcoin was driven by the need for a decentralized settlement layer.🔸Challenges with the Lightning Network include inbound liquidity and complexity for users.🔸Spark simplifies the user experience by abstracting away complexities of the Lightning Network.🔸Unilateral exits in Spark allow users to retrieve funds without operator involvement.🔸The architecture of Spark is designed to support high transaction throughput and scalability.🔸Privacy features are being developed to enhance user confidentiality in Spark transactions.🔸Tokenization on Spark allows for the creation and transfer of assets efficiently.🔸The Spark ecosystem encourages community involvement and developer contributions.🔸Future developments will focus on programmability and advanced financial functionalities.Timestamps:(00:00) - Intro(01:01) - Kevin’s journey from Libra to Bitcoin(04:28) - Why the need for another L2?(07:49) - What is @spark?; How is it beneficial for the end user? (12:09) - Spark's technical framework(20:40) - Cooperative exits vs. Unilateral exits(26:17) - Sponsor(27:10) - Trust & privacy considerations in Spark(29:16) - Enhancing privacy in transactions(34:48) - Developer experience & tooling (36:37) - What is Spark’s token protocol (BTKN)? (39:11) - Stablecoin support on BTKN? (41:13) - Kevin’s views on programmability with Spark(43:35) - How is Spark different from other Layer 2 solutions? (46:06) - What are Universal Money Addresses?; UMA for Cross-border transactions(49:14) - Corporate chains vs. Neutral settlement layers(52:15) - Can an individual spin up their own Spark operator? (53:24) - Could 100 million people be using Spark?(55:00) - How can one contribute to Spark?Links: https://x.com/kphur https://x.com/spark https://x.com/umastandard https://www.spark.money/ https://www.lightspark.com/news/lightspark/lightspark-acquires-striga https://www.lightspark.com/news/lightspark/introducing-lightspark-grid https://x.com/lightspark/status/1981360175861944621 https://bitcoinmagazine.com/technical/spark-and-ark-a-look-at-our-newest-bitcoin-layer-twos Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Matt McClintock delve into the complexities of wealth management in the context of Bitcoin, exploring the concept of the Sovereignty Paradox. They discuss the nuances of sovereignty, the importance of preparing the next generation for wealth, and the role of philanthropy. The conversation also covers tax implications, strategies for managing Bitcoin wealth, and the risks associated with custodianship. Matt emphasizes the need for diversification and the evolving landscape of Bitcoin custody and regulation, while also addressing common pitfalls in wealth management.Takeaways:🔸Sovereignty is a spectrum, not a binary choice.🔸Wealth management requires ongoing attention and strategy.🔸Philanthropy can be a meaningful way to manage excess wealth.🔸Tax implications are significant for high net worth individuals.🔸Diversification is key in managing Bitcoin and other assets.🔸Custodianship carries centralization risks that need to be managed.🔸Investment strategies should align with personal values and goals.🔸Miniscript can enhance Bitcoin management strategies.🔸Engaging the next generation in wealth discussions is crucial.🔸Planning around gift and estate taxes can save significant amounts. Timestamps:(00:00) - Intro(01:35) - What is the sovereignty paradox? (09:00) - What do UHNW Bitcoiners do when their wealth is beyond their level of consumption?(16:36) - Sponsors   (18:11) - Bitcoiner’s perception of money (20:57) - What does NgU do to the mindset of a UHNW client?(24:33) - Strategies for custodying one’s Bitcoin(31:22) - Managing centralization risks  (37:08) - Evaluating Bitcoin exposure through Bitcoin ETFs, BTCTCs, BTC mining stocks etc. (46:04) - How does Miniscript help with Bitcoin inheritance?(46:27) - Tax planning for UHNW Bitcoin investors(57:26) - What are some of the pitfalls to avoid? (1:00:26) - Closing thoughts Links: https://x.com/mcclintock_m https://bespokegroup.io/ https://bespokegroup.io/sovereigntyparadox/ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

On Day 2 of Plan B Lugano, I sat down with Jack Mallers to discuss the rapid growth in the market for bitcoin collateralized loans, and with Chris Pavlovski on freedom technology and the state of free speech in the West with Rumble.Timestamps:(00:00) - Intro(00:49) - Jack Maller’s journey with Strike(02:49) - How does Strike lending work?; Liquidation levels(13:12) - Should people fear borrowing against their Bitcoin?(19:22) - Does Strike rehypothecate user funds?  (26:36) - What’s the latest with Rumble wallet? Chris Pavlovski explains…(30:01) - What is the state of free speech in the west? (34:08) - Leveraging AI and Rumble's partnership with Perplexity; Comet browser(36:53) - Chris’ view on Freedom tech; Rumble Cloud(41:07) - The importance of competition in tech(44:05) - What’s next for Rumble? Links: https://x.com/jackmallers https://x.com/Strike https://x.com/chrispavlovski https://x.com/rumblevideo Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Join me as I interview some of the leading voices that are building on Bitcoin - Philip Walton Bringing affordable energy to Africa, Value transfer over payments & Time2Build by Roy and how Arkade is enhancing Bitcoin’s layer 2 with Tiero.  Timestamps:(00:00) - Intro(2:37) - Philip’s background and the genesis of Gridless(4:20) - Why build Gridless in Africa? (06:09) - Difference between Energy generation & distribution(10:24) - Communities affected by Bitcoin mining(12:45) - Operational challenges for Gridless(17:23) - Costs for operating Bitcoin mining machines(21:23) - Mini grids (23:00) - Regulatory risks (25:07) - Global macro trends that impact Gridless(27:31) - “Payments are a fiat mindset” Roy Sheinfeld(30:40) - Value transfers are permissionless & provide optionality(32:48) - Time2Build by Breez(39:40) - What are the different forms of Nodeless?; Concerns with Spark transactions(48:09) - What are the fees associated with Breez? (51:30) - What is Arkade? Tiero explains…(57:00) - How does batching transactions work?; Unilateral exit costs(1:01:48) - What is Arkade script?(1:10:00) - Use cases of Arkade and Arkade Script(1:21:04) - Future of ArkadeLinks: https://x.com/LuganoPlanB https://x.com/ouagawalton https://x.com/GridlessCompute https://x.com/roy_breez https://x.com/Breez_Techhttps://x.com/tierotiero https://x.com/Arkade_OS  Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack