Magic Internet Money

Exposing Tether YouTube Video

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Coffeezilla on Tether and Bitcoin Jul 26, 2021

Show notes

Coffeezilla joins Brad to dig into his motivation for creating the "Exposing Tether" video on YouTube. The two discuss Coffeezilla’s own crypto story, and what made him produce videos that expose scams. Coffeezilla provides a healthy sense of skepticism, and criticism for tether, while Brad drips historical context and commentary throughout.

Timestamps

00:00:00 Intro to Coffeezilla

00:07:38 Intro convo between Brad and Coffeezilla

00:10:13 how did Coffeezilla get into the crypto space? (Analysis of scams)

00:12:45 Coffeezilla getting interested in Tether

00:14:15 Tether’s lack of transparency

00:15:35 what was the biggest scam that Coffeezilla uncovered

00:16:50 Coffeezilla’s background

00:18:42 Type of content Coffeezilla covers on his channel

00:20:13 Bitcoin maximalism toxicity

00:23:06 Robert Breedlove and bitcoin

00:27:38 What is Bitcoin’s thesis to Brad?

00:33:11 Coffeezilla’s bitcoin thesis

00:34:56 Facebook, Google, and Surveillance Tech

00:35:40 Centralization in money

00:36:54 Coffeezilla’s opinion on decentralization

00:38:57 Projects before Bitcoin

00:39:33 Will Bitcoin survive regulations?

00:43:00 Executive Order 6102 on Gold

00:44:34 The technology behind Bitcoin and its competitors

00:49:26 How is Bitcoin solving inequality?

00:53:35 Is Bitcoin not subject to Inflation?

00:58:17 Talking about Tether video made by Coffeezilla

01:02:08 Silk Road and Ross Ulbricht

01:08:25 Coffezilla’s and Brad’s opinion on Tether

01:15:38 - Wrapping Up

Coffeezilla’s Social Links

Coffeezilla Twitter

Coffeezilla Instagram

Brad Mills Social Links

Uncensored Bitcoin Podcast

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Bitcoin, Money Printing, and the Economic Problems of Today Jul 19, 2021

Show notes

Junseth joins Brad Mills for a discussion about economics and finance. Some think that many of the world’s problems can be traced back to the federal reserve, and the printing of money. Junseth makes a cogent argument throughout that things are a bit more nuanced than this perspective would lead you to believe. Many financial concepts are discussed in this episode, making it an ideal listen for those of you wishing to gain a broader understanding of market dynamics and macro economics. Savings, derivatives, Doge, DeFi, and of course, Bitcoin are all discussed within!

Timestamps

00:00:00 - Intro

00:01:22 - Junseth introduction and Bitcoin Conference

00:03:12 - Bitcoin Maximalism vs Crypto

00:05:40 - Junseth’s History with Bitcoin Uncensored Podcast

00:08:00 - How to be a good trader

00:09:36 - Elon Musk to take over Dogecoin

00:11:05 - No Oracles in Bitcoin

00:11:55 - The Mission of Junseth

00:14:58 - DeFi is a lot like a ponzi scheme

00:17:38 - Money and the Federal Reserve

00:19:50 - Junseth says we might be in a deflationary period

00:21:32 - Bitcoin is the thing itself that is valuable

00:23:20 - Applying politics to Bitcoin and modern monetary theory

00:25:40 - Will the government collapse? Or just the dollar?

00:26:42 - Civil war between Conservatives and Liberals

00:28:40 - Bitcoin as an end of the world hedge

00:29:38 - El Salvador experiment conversation about the USD

00:32:20 - Bitcoin reinvents the entire monetary infrastructure

00:35:40 - Making more sense to take on as much debt as possible

00:37:00 - Is inflation real? Is there actually inflation around? Where can we find inflation

00:41:26 - Are salaries rising at the same pace as inflation?

00:43:02 - Quality of life going up over time, easier to buy a good computer for cheaper today

00:45:40 - Where is inflation showing up in the economy?

00:48:50 - Collectibles and Investments in the economy. The power of index funds, and diversification.

00:52:40 - Story of FedEx employee who saved and indexed for 50 years

00:55:25 - Did the federal reserve unwind the quantitative easing that they did?

00:57:00 - Why does the federal reserve target inflation at 2%?

01:00:30 - Managing a portfolio to always be in the asset that is likely to go up

01:02:00 - Who benefits from inflation? Inflation is a tax on foreign companies holding USD.

01:04:40 - People 50 years ago were much more entrepreneurial

01:05:30 - Millennials have more savings than any other generation that has come before

01:06:50 - Renting vs Owning. Can millennials own houses with their current income/wealth level?

01:09:55 - Government Policy is the cause for irresponsible loans

01:11:41 - Putting money in Bitcoin vs stock market in 2011. How much risk would each be?

01:13:20 - Bitcoin is an asymmetric risk. Good opportunity for young people.

01:14:35 - Bitcoin is digital gold, and Brad was buying silver, gold, and also Bitcoin.

01:16:50 - Why does Junseth think Bitcoin is going up?

01:19:00 - How to buy a house with 3% down in Canada vs the USA. Index Funds vs House.

01:27:30 - Brad’s case for why things are not going to continue in the “business as usual” fashion.

01:31:30 - What does it look like for the stock market or economy to take a turn?

01:33:30 - Is there a lot of suffering nowadays?

01:43:01 - Would people care about the economy if they knew how it worked?

01:47:30 - Discussion on Libertarianism, UBI, and Milton Freedman

01:53:22 - Do people hold dollars? Junseth says most people don’t hold dollars

01:58:20 - Discussion on whether or not money printing causes all bad things?

02:04:00 - The morality of how money is made

02:07:03 - Buffet getting a call from the fed when the 2008 crash occurred

02:10:33 - Rich people suffer more during a market downturn

02:14:44 - Kids and graduating college kids are roped into credit card debt

02:17:30 - In depth discussion on brads upbringing, and his experience with debt

02:24:55 - Credit card debt is not collateralized, so you never need to pay it back

02:29:02 - Fractionalization of money within the banking infrastructure

02:33:50 - Do bank executives make too much money for their position?

02:39:22 - Discussion as whether or not you can own volatility

02:49:50 - What are derivatives? How did derivatives play into the 2008 crash? What are inside collateralized debt obligations?

03:00:00 - The five things to fix society!

03:03:45 - Discussion on COVID-19 and its causes, elaboration on crisis

03:12:55 - Brad brings things back to the central bank printing money

03:20:00 - Wrapping up, Closing Thoughts

Links to Mentions in the Show

Federal Reserve Website

Milton Freedman

Quality of Life Index

Find Junseth

Junseth.com

Find Brad Mills

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Lightning on the Bitcoin Beach Wallet Jun 28, 2021

Show notes

Nicolas Burtey joins Brad to discuss what it is like building the Bitcoin Beach Wallet on the Lightning Network. Nicolas is the co-founder of Galoy Money, a company that works on bringing the lightning network to the people who need it, through open sourced, community based applications. This episode covers a range of topics including Bitcoin Beach, Lightning Network Scalability, and the merits of building on lightning in the midst of the DeFi frenzy. Nicolas brings his perspective as someone who has worked on VR, then Ethereum, then dedicating his time exclusively to Bitcoin.

Timestamps

00:00:00: Podcast Start and Introduction

00:03:40: Nicolas’s Introduction and conversation begins by talking about Bitcoin Beach

00:05:50: Nicolas’s backstory as someone who got into VR, then cryptocurrency through Ethereum

00:09:07: Nicholas starts looking into the lightning network from a payments perspective

00:14:32: Investors are sleeping on the lightning network, DeFi attracting Investors through deceptively enticing ROI

00:18:25: What it is like building on the lightning network

00:24:02: Building the Bitcoin Beach community with Michael Peterson

00:27:20: Discussion on Custodial vs Non-Custody Wallets. Bitcoin Beach Wallet is Custodial and acts as a sort of Community Bank

00:29:00: How is the Wallet of Satoshi scaling?

00:31:28: Economics of El Zonte and El Salvador

00:35:20: People trading in El Salvador, should people even try trading?

00:37:38: What does it take to scale the Bitcoin Beach Wallet?

00:40:50: How to help with the Bitcoin Beach Wallet project

00:42:10: Thirty communities have reached out to the Bitcoin Beach Wallet. What is the future of the lightning network in these communities?

00:44:00: Translation of Bitcoin content into various languages

00:47:04: Bitcoin Lessons building bite sized Bitcoin educational material

00:49:52: People travelling to El Salvador to help with Bitcoin education

00:52:01: How to help out with the Bitcoin Beach Wallet. Brief discussion on Proof of Reserves, Liquidity on the Lightning Network.

00:55:00: Outro, thanks and pitch to invest in Lightning Network Companies

Links to Mentions in the Show

Guest Social Links

Nicolas Burtey Twitter

Brad Mills Social Links

Distributed Ledger Technology (DLT)

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Real Vision and Finance May 21, 2021

Show notes

In this episode of Magic Internet Money, host Brad Mills invites Coindesk editor Ash Bennington onto the show to talk about Real Vision, Ash’s online web show about the world of finance. The duo discuss Ash’s experience at Coindesk and during the Dotcom bubble in the late 90’s. Brad questions Ash on the part he plays in his own show, most notably as a neutral voice between guests. Ash offers his thoughts on blockchain technology and how the digitization of finance, like everything else digital seems inevitable.

Time Stamps

00:00:31 - Introduction

00:04:10 - What is Real Vision?

00:07:32 - How Ash got into crypto

00:15:27 - Differences between financial journalism and media

00:18:18 - Token speculation and securities discussion

00:24:58 - Comparison between blockchains and traditional finance

00:31:33 - Security protocols and blockchain upgrades

00:37:40 - Social media influence on markets, their effects

00:45:03 - Benefits of blockchain technology

00:49:46 - Game theory and governments

00:56:57 - Bitcoin philosophy and related questions

01:01:02 - History of centralized banks and decentralized finance

01:08:05 - Risk and how institutions manage it

01:13:20 - The fed and the pandemic

01:17:00 - “How is the banking system not on the brink of collapse?”

01:28:00 - Reducing cost of goods, rising cost of education, health

01:31:35 - Twitter question for Ash, future speculation and goals

01:37:29 - 2001 bubble analogies, then and now

01:45:08 - Closing remarks

Links to Mentions in the Show

The Creature from Jekyll Island

America’s Bank

Find Ash Bennington

Ash Bennington LinkedIn

Ash Bennington Twitter

Find Brad Mills

People leaving California

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Why Buy Bitcoin May 04, 2021

Show notes

On this episode of Magic Internet Money, host Brad Mills invites Why Buy Bitcoin author Andy Edstrom onto the show to discuss the potential that Bitcoin has in the world of finance. The two open with a discussion about “number go up (NGU)” tech and Andy’s book. Brad asks Andy for his take on how institutional backing stands to benefit Bitcoin. Andy talks about debt structure and his experience in finance and how working with institutional players educated him with insight into how modern markets work. Finally, the two wrap up with a discussion about what governments at local and international levels are doing to handle the current economic situation.

Timestamps

00:00:07 - Intro

00:01:30 - Show start

00:05:50 - “NGU tech” and writing Andy’s book

00:10:22 - Institutional buyers and game theory

00:16:48 - Financial planning in an institution vs as an individual

00:24:10 - Bitcoin and equal opportunities

00:27:24 - Speculation on altcoin and bitcoin futures

00:37:40 - Balance in finance; staying diverse in turbulent markets

00:40:31 - Andy’s “worst investment ever” and “If I had 1000 bitcoin”

00:49:50 - Debt structure and Michael Saylor

00:57:40 - Newcomers to Bitcoin and risk

01:03:40 - Discussion about Andy’s book and time with crypto

01:07:40 - The Californian exodus and the politics of taxation

01:15:45 - “What could governments do?” Japanese central banking

01:22:11 - Speculation about institutional money holders

01:29:43 - Ethical case for Bitcoin

01:32:20 - Closing remarks

Links to Mentions in the Show

Negative interest rates in Japan

Find Andy Edstrom

Andy Edstrom

Andy Edstrom Twitter

Find Brad Mills

What is a closed end fund?

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Bitcoin Breaking Into Traditional Finance Apr 27, 2021

Show notes

Brad Mills invites financial expert Greg Foss onto the show to talk about Bitcoin breaking into traditional finance. Greg discusses his 30 years of experience in the field of engineering and finance. Greg further explains to Brad the differences between a closed end fund and an ETF, and why a closed end fund in Canada is a big step for Bitcoin. The two debate about the current financial system; Brad on the side that it’s a ponzi scheme casino and Greg on the side of mathematics. Finally the duo speculate about the current state of the Canadian economy, and what Bitcoin might be able to do to help.

Timestamps

00:00:07 - Introduction

00:02:23 - Show start

00:04:44 - QBTC vs Bitcoin, what’s the difference?

00:07:04 - The importance of tax deferred accounts permitting Bitcoin

00:14:11 - Differences between an ETF and a closed end fund

00:22:10 - Archegos “black eye on the US hedge fund community”

00:25:17 - Currency Wars discussion and other book recommendations

00:28:00 - The Casino for whales debate

00:37:34 - A brief economic history lesson about Rogers Communications

00:44:44 - Credit rating arbitrage discussion

00:48:05 - Shareholder profits, taxpayer losses.

00:55:40 - Understanding capital structure and the regulated market

01:04:00 - Quebec pensioners and lessons about risk

01:08:40 - The higher perspective of the regulated economy

01:12:45 - Bitcoin as default protection

01:15:55 - Why do banks have equity?

01:19:43 - Toxic debts and brady bonds conversation

01:28:55 - How equalization affects Canadians

01:33:05 - What if Canada owned Bitcoin?

01:36:04 - The Alberta situation and Canadian economic speculation

01:40:14 - Discussion on the adoption of Bitcoin

01:47:25 - Validus Power Company discussion

01:52:10 - Bitcoin and it’s relation to traditional finance giants, MMT

02:00:50 - Closing remarks about gold

02:04:39 - Outro and social media plugs

Links to Mentions in the Show

Three IQ

QBTC

What is an ETF?

Fred Pye

Archegos controversy

Currency Wars by James Rickards

What is credit rating arbitrage?

Find Greg Foss

Find Brad Mills

Artificial general intelligence

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

The Price of Tomorrow Apr 20, 2021

Show notes

In this episode, Brad teams up with Jeff Booth, author of 'The Price of Tomorrow' and one of the leading voices on technology and its impact. His book delves into how technology brings forth abundance and the danger of holding onto the economic systems of the past. As a person who's worked in the technology space for over 20 years and is an avowed Bitcoiner, Jeff has some interesting insights to share on how those two fields intersect. The two talk about the long-term impact of money printing, why Bitcoin is superior, and why deflation is a good thing for economies. Plus, how does Elon Musk balance allegiances to Bitcoin and the Fiat money world?

Timestamps

00:00:00 - How does Jeff balance being an entrepreneur and the whole media circuit?

00:01:59 - The conviction of any entrepreneur, and Elon Musk nearly lost Tesla

00:04:26 - Lessons from Jeff's parents after they lost real estate in the '80s

00:07:36 - Why inflation is hidden tax - that enriches the 1%

00:18:53 - Universal basic income is against the concept of free markets

00:26:39 - Bitcoin is not the backup plan – it's the plan

00:40:26 - What could Elon Musk's thought process be on Bitcoin?

00:47:25 - Bitcoin's more than just about price

00:48:00 - What would it have been like if we'd been on a deflationary currency since the gold standard?

00:53:06 - There's no place you can hide if 90% of humanity lacks the basics and 5% has everything

00:55:53 - AI and drug experimentation/ breakthroughs

00:58:21 - How was it like for Jeff to speak to the House Of Commons about Bitcoin?

01:02:08 - How does Jeff's wife perceive Bitcoin?

Podcast Mentions

The Price of Tomorrow (Book by Jeff)

Humans Need Not Apply (book)

Elon Musk's "Bitcoin is almost as bs as Fiat money" tweet

Peter Diamandis

Find Jeff Booth on:

Jeff Booth Twitter

Find Brad Mills on:

ICOs and why they’re important

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.

Popping the NFT bubble Apr 02, 2021

Show notes

In this episode of Magic Internet Money, host Brad Mills invites fellow podcaster Jordan Harbinger onto the show to discuss NFTs, second passports, taxation, and money laundering. Both parties agree on the speculation that NFTs are a tulip style bubble, but are here to stay. The duo share their experiences paying taxes in the cryptocurrency space. Jordan explains how tax evasion is nearly pointless with Bitcoin, since the point of the blockchain is accountability. Jordan also offers his experiences in scam busting, and explains how NFTs could be a new gateway for money launderers akin to money laundering in the art collecting business. Finally, the two discuss the possibilities of second passports in the event of government overreaching for crypto assets.

Timestamps

00:00:34 - Show start/Collectable value

00:12:38 - Asset allocation with Bitcoin and related assets

00:19:25 - NFT bubble speculation

00:26:39 - Current Bitcoin trend, what it would take to change it

00:33:03 - How circumstances affect how deep into Bitcoin you should go

00:36:18 - “The demise of the stock market” and speculation about the fed

00:39:45 - The value of diversifying assets and self investment

00:44:40 - How the podcast market shifted during the pandemic

00:48:34 - Who’s talking about NFTs?

00:58:35 - Jordan’s story about Ethereum

01:03:00 - Measuring in Bitcoin terms

01:13:05 - Taxation and Bitcoin

01:18:55 - Speculation about “government overreach”

01:24:08 - Closing remarks and social links

Links to Mentions in the Show

What is an NFT?

Clubhouse

Cassius Marsh

Art sales money laundering

Dogecoin

John McAfee

Find Jordan Harbinger

Jordan Harbinger.com

Jordan Harbinger Twitter

Find Brad Mills