Episode 003 "Into The ETHer"eum w guest Jason Sellers
Jason reveals just a little about why he avoids Ethereum. Lots of tech talk getting to Nocoiner John's question about how the hard cap of 21 million is part of what makes bitcoin have value.
LISTEN NOW »»
Big thanks to guest Jason Sellers (bio) for sharing some dish on how Ethereum is set up and why he avoids it.
We opened with this Forbes article “Banks Are About to Face The Same Tsunami as Telecom Industry 20 Years Ago” and a quote from OpenNode’s article “Why Lightning Instead Of Normal Bitcoin Or Credit Card Tranactions?” which states that “Bitcoin payments on the Lightning Network have lower fees and faster processing times than on-chain Bitcoin payments and even Visa payments. The Lightning Network can support 250,000 + transactions per second in comparison to 7 transactions per second with Bitcoin (on-chain).”
Jason discusses how the Noah app (his employer) allows users to easily and instantly make bitcoin payments over the emerging Lightning Network, a Layer 2 of Bitcoin (think: what paper notes meant to gold, or how written paper checks represent dollars).
Among many other things(!) we finally spoke about some differences between bitcoin and ether, especially in regards to “centralization” and the well-known “70% pre-mine” which Ethereum’s network is (sadly) known for:
One very insightful aspect of today’s program was Jason explaining for Nocoiner John the stages which a commodity goes through on the route to becoming full scale money. The greater understanding one has of both the history of money (not taught in schools!) and the characteristics of money, it becomes much easier for the average person to see exactly how and why bitcoin is literally replacing world currencies.
John was also surprised to learn that there are services now that allow business owners to accept bitcoin as payment, and the processor puts 99% of that into your bank account as dollars.
I joined the Noah platform which Jason spoke of, and I LOVE that one can send bitcoin via Lightning Network payments via easy-to-remember and intuitive addresses (mine is guymalone@noah.me for instance) instead of the typical b1q49gr@zxp853s… style addresses. We also made a quick reference to “Asteroid Psyche Has Enough Gold to Make Us All Billionaires”
Jason Sellers’ (bio) on Noah | Jason’s Twitter | Jason’s MeWe Bitcoin group which you can join and continue to ask Jason questions about Bitcoin. When listening, you might catch that Jason (and I) highly recommend the book “The Bitcoin Standard.”
Newbie? This is not intended as financial advice, but I usually refer first-timers (U.S. citizens) to www.SwanBitcoin.com/guymalonecbp (affiliate link) to connect your checking account to make one-time or recurring debits to your bank account to purchase bitcoin (KYC required but see here when you’re willing to deep-dive). Swan has fantastic customer service and is 100% committed to your education!
To consider including bitcoin in your IRA or 401k planning, enter your basic contact info (disclosure: affiliate referral) at BitcoinForTomorrow.com
You may also use the same form to learn about offering or receiving bitcoin as part of your employee benefit plan.
Interested in mining bitcoin from home? Talk to Hands Free!
Follow the pod’s Facebook page for more throughout the week, and for wisdomous memes! (And there’s less action at my more professional Twitter profile.)
