Stephan Livera Podcast

Stephan Livera

Join Stephan as he interviews the sharpest economic and technical minds in Bitcoin & Austrian Economics to help you understand how money is changing and evolving. Leading names in the world of Bitcoin join the show to share their insights, whether they are developers, CEOs, economists, authors, analysts and more.

  • 1 hour 14 seconds
    How Do You Retire on Bitcoin? With Morgen Rochard SLP593

    Can you retire on Bitcoin savings? What do the numbers look like? Morgen Rochard, Founder and Lead Financial Planner of Origin Wealth Advisers joins me to explain: 

    • The 4% rule and how to modify it

    • Being conservative in your planning

    • CPI inflation being hard to predict

    • Do you rebalance? 

    Timestamps:

    (00:00) - Intro

    (01:03) - 4% rule, Bitcoin & FIRE

    (04:41) - HODLers vs TradFi allocation

    (12:34) - Why you should be conservative with Bitcoin retirement

    (20:16) - What if you retire during a Bitcoin bull run?

    (22:24) - Sponsors

    (24:55) - Should you borrow against your Bitcoin stack?

    (31:41) - Where are the fiat financial planners going wrong?

    (37:34) - Separating Bitcoin from ‘Crypto’

    (40:55) - The shift in sentiment about HODLing Bitcoin

    (42:39) - Sponsors

    (44:51) - Should you rebalance your Bitcoin allocation?

    (49:40) - Estimating currency debasement 

    (56:12) - Bitcoin’s CAGR

    Links: 

    Sponsors:

    Stephan Livera links:

    22 July 2024, 11:35 am
  • 1 hour 14 minutes
    The Fertility Crisis and Cultural Answers to it with Daniel Hess SLP592

    The global fertility crisis is on with many western and developed nations below replacement fertility. Joining me to discuss this problem is Daniel Hess (aka @MoreBirths on X). 

    Timestamps:

    (00:00) - Intro 

    (00:54) - How bad is the global fertility crisis?

    (04:50) - Implications of low birth rate for future generations

    (09:54) - Causes for declining global rate of fertility

    (11:53) - Marriages affecting birth rate

    (15:38) - Religion affecting birth rate

    (17:36) - Fertility rate in the East

    (21:28) - The impact of government policies on fertility rate

    (25:47) - Sponsors

    (27:43) - Urban planning & fertility rates

    (32:40) - The impact of welfare state on fertility rates

    (36:00) - Taking cues from the fall of Roman empire

    (41:16) - Insights from the population curve of South Korea

    (45:05) - Sponsors

    (47:30) - The ‘3 Child Norm’

    (52:57) - The lessons from ‘Baby Boomers’

    (55:38) - Recalibrating expectations

    (59:13) - The importance of low time preference 

    (1:04:00) - Deregulating childcare

    (1:14:20) - Outro

    Links:

    Sponsors:

    Stephan Livera links:

    19 July 2024, 10:55 am
  • 1 hour 42 seconds
    Stable Channels with Tony Klausing (SLP591)

    Even as bitcoiners, we can’t deny that there is demand for ‘stablecoins’ or some kind of stable value feature. Tony Klausing, bitcoin and lightning developer joins me to talk about Stable Channels. This approach to stable value is self custodial, P2P, and bitcoin-native. We talk about the benefits, trade offs and who this would be suitable for. 

    Timestamps:

    (00:00) - Intro 

    (00:51) - Tony’s background 

    (03:28) - Opportunity of Stable Channels

    (05:46) - Fiat-backed stablecoins Vs. Crypto-backed stablecoins(10:23) - Overview of Stable Channels

    (14:17) - Difference between DLCs & Stable Channels

    (18:02) - Stable Channels during varying BTC price scenarios

    (21:34) - Sponsors

    (23:49) - Who are Stable Channels for?

    (30:50) - Dual funding & splicing on Stable Channels

    (32:24) - How do participants of Stable Channels find each other?

    (38:22) - Addressing concerns around Stable Channels 

    (41:12) - Sponsors

    (42:33) - Possible challenges for Stable Channels

    (46:43) - Payments on Stable Channels

    (52:07) - Is Stable Channels a ‘Quasi-decentralized exchange’?

    (53:57) - Lightning payment vs legacy financial payment

    (58:03) - Usability challenges

    (1:00:09) - Outro

    Links:

    Sponsors:

    Stephan Livera links:

    15 July 2024, 11:35 am
  • 1 hour 6 minutes
    The Bushido of Bitcoin with Aleksandar Svetski (SLP590)

    Aleksandar Svetski (@SvetskiWrites) rejoins me to talk about his newest book, The Bushido of Bitcoin. We get into a discussion about:

    Anti-egalitarianism Virtues Why Bitcoiners should ‘stop being plebs’ The ascend & descend of civilisations Imbibing warrior culture in Bitcoin The masses and the remnant Timestamps: (00:00) - Intro (00:41) - Who is ‘The Bushido of Bitcoin’ for? (11:13) - The role of legitimate hierarchy (18:14) - The cyclical nature of civilisations (22:21) - Sponsors (25:20) - Choosing to opt out of a nation (30:29) - The pleb culture of Bitcoin (39:00) - Upholding virtues on a Bitcoin standard (42:53) - Sponsors (45:05) - Shaming as a morality check (49:17) - Retaining customs & norms in a new world on Bitcoin (53:17) - The masses and the remnant (59:35) - Natural elites in a free market (1:03:00) - Satlantis - travel & community social network (1:05:54) - Outro Links: https://x.com/SvetskiWrites https://www.bushidoofbitcoin.com/ Sponsors: Swan.com (code LIVERA) http://swan.com/livera CoinKite.com (code LIVERA) http://coinkite.com/ Mempool.space https://mempool.space/ Nomadcapitalist.com/apply https://nomadcapitalist.com/apply Stephan Livera links: Follow me on X: @stephanlivera https://x.com/stephanlivera Subscribe to the podcast: https://plinkhq.com/i/1415720320 Subscribe to Substack: https://stephanlivera.substack.com/

    10 July 2024, 10:55 am
  • 1 hour 9 minutes
    Abundance, Generosity, and the State with Guido Hulsmann SLP589

    Jörg Guido Hülsmann is a Senior Fellow of the Mises Institute, and he rejoins me to discuss his latest book on Abundance, Generosity and the State. Bitcoiners like to spell out a lot of the social and cultural problems in the world today, and Dr Hülsmann is one of the leading lights in showing how fiat currency and government intervention have caused negative outcomes. 

    We discuss the way gratuitous benefits come to us in a free market capitalist society, and the many ways government intervention can interrupt this process. Instead of having strong families, communities and private clubs that assist in making our lives better, the state disrupts this process and makes society poorer. 


    Links:

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    Stephan Livera links:

    7 July 2024, 1:19 pm
  • 49 minutes 33 seconds
    Why are Empty Blocks Happening with OrangeSurf from mempool.space (SLP588)

    Why are some bitcoin blocks empty? Orange Surf from the mempool.space team joins me to explain his recent research report on this topic. We discuss:

    • Why do empty blocks happen? 

    • Comparing empty block rates across mining pools

    • Firmware and config differences

    Timestamps:

    (00:00) - Intro

    (00:44) - Orange Surf’s research report on empty blocks

    (02:02) - Block interval data sets 

    (06:25) - What is an empty block?

    (08:09) - What causes an empty block to occur?

    (11:35) - Nuances of a working of a miner; switching from empty to full block templates

    (14:05) - Differences in the empty block performance

    (19:01) - Antpool’s internal miner firmware  

    (21:30) - Sponsors

    (25:00) - Effective management of block templates by mining pools

    (34:54) - Ocean's empty blocks

    (36:08) - Mining decentralisation and proxy pools

    (41:07) - Sponsors

    (42:14) - Mining templates & pool payouts

    (44:57) - Upcoming mempool features

    (49:06) - Outro

    Links:

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    Stephan Livera links:

    3 July 2024, 11:52 am
  • 1 hour 3 minutes
    Setting up Free Private Cities in South Asia with Art Finch (SLP587)

    Art Finch is a South African-American Entrepreneur. Art has experience across South Asia and is interested in setting up Free Private Cities or Charter Cities. In this episode he shares his experiences in Bhutan and shares his theories on how Bitcoin and Free Private Cities can work together. 

    Timestamps:

    (00:00) - Intro

    (01:28) - Art’s background & his interest in building a Free Private City (FPC)

    (10:50) - The need for a Free Private City

    (13:11) - A look at Shenzhen as an SEZ

    (16:20) - Education in an FPC context

    (20:08) - Sponsors

    (22:22) - Education in an FPC context (contd.)

    (26:11) - Setting up an FPC in Bhutan

    (33:56) - Bhutan’s leadership views on the FPC 

    (41:41) - Sponsors

    (44:00) - Art’s insights on Bhutan & Bitcoin mining

    (46:08) - Potential FPCs in the future

    X clips:

    07:18 - biggest risk to FPC

    08:47 - 10:01 - Bhutan FPC in a nutshell

    10:57 - 12:40 - need for FPC

    18:08 - 20:08 -  learning/self education, role of schools, start with one node and grow from there - similar to bitcoin

    44:08 - 45:59 - Bitcoin progress in Bhutan - mining ops,  

    Links:

    Sponsors:

    Stephan Livera links:

    1 July 2024, 3:36 pm
  • 55 minutes 58 seconds
    Direct Held Bitcoin ETF with in kind redemption with Jeff Yew, CEO, Monochrome SLP586

    While many debate the pros and cons of Bitcoin ETFs, joining us for this episode is Jeff Yew, CEO of Monochrome, doing a directly held Bitcoin ETF in Australia. We chat about the fees, the custody, the ethos, being able to contribute bitcoin or redeem bitcoin, institutional adoption and Bitcoin in Australia. 

    Timestamps:

    (00:00) - Intro

    (00:53) - Monochrome’s role in bringing Bitcoin ETFs to Australia

    (02:48) - Timeline of different Bitcoin ETFs in Australia

    (03:58) - Influence of US Spot Bitcoin ETFs on the Australian Bitcoin ETFs

    (06:15) - Different types of Australian Bitcoin ETFs and implications for investors

    (13:32) - Fee structure of Monochrome (IBTC) Bitcoin ETF 

    (19:00) - In-kind vs. Cash-create 

    (24:55) - Loans against Bitcoin ETFs in the future?

    (29:05) - Buying Bitcoin on an exchange vs buying Bitcoin ETFs

    (31:48) - How does Monochrome store its Bitcoin?

    (33:37) - Sponsors

    (36:49) - Are institutions good for Bitcoin?

    (43:07) - Safety in numbers

    (46:53) - Bitcoin adoption in Australia compared to USA

    Links:

    Sponsors:

    Stephan Livera links:

    27 June 2024, 10:55 am
  • 59 minutes 25 seconds
    Set Your Business Up With Bitcoin Unit of Account with Luke Thibodeau, CFO of Prospera SLP585

    You might have seen my earlier episode with Erick Brimen, CEO of Prospera, here’s the CFO of Prospera discussing the ability to use Bitcoin as a unit of account. We discuss: 

    • Life on Roatan

    • Setting up a business

    • Choose your own regulatory environment

    • ZEDE law situation

    • Bitcoin as unit of account

    • Leaving Canada

    Timestamps:

    Links:

    Sponsors:

    Stephan Livera links:

    22 June 2024, 10:55 am
  • 1 hour 9 minutes
    Updates on Ark with Tiero SLP584

    Tiero of Ark Labs joins me on the show to discuss the latest with Ark. We get into: 

    • How Ark has changed since initial proposal

    • clARK - covenant-less ARK

    • Trade offs to make clARK happen

    • Which covenants would help vs what is ideal for Ark

    • Ark on Liquid 

    • Capital requirements and costs

    • Fiatcoins

    • Nostr

    Timestamps:

    (00:00) - Intro

    (01:37) - What is Ark? ELI5 version

    (05:42) - Tradeoffs of scaling payments

    (07:41) - Interchangeably using LN & Ark under the hood

    (10:52) - Updates on Ark 

    (13:57) - What are out-of-round payments?

    (17:48) - Trade Offs of out-of-round payments

    (19:45) - The fee structure in Ark

    (21:39) - Sponsors

    (24:15) - Who runs the ASPs?

    (28:55) - ‘Congestion control’ with Ark

    (33:06) - The role of covenants with Ark

    (39:44) - Ark on Liquid

    (41:20) - Sponsors

    (43:49) - The ideal covenant & its impact on Ark

    (48:00) - Thoughts on extreme conservatism on Bitcoin

    (52:55) - Way forward with Ark Labs

    (56:18) - Opportunities & threats of stablecoins on Ark?

    (1:02:39) - NIP46 & building Nostr Connect

    (1:06:40) - Summary & closing thoughts 

    Links:

    Sponsors:

    Stephan Livera links:

    18 June 2024, 2:41 pm
  • 1 hour 22 minutes
    Bitcoin Ossification Debate with Vijay Boyapati and Reardencode SLP583

    The bitcoin ‘ossification’ debate continues with a discussion on the key considerations. What makes Bitcoin special? What improvements are necessary to retain sufficient decentralisation, if any? 

    Vijay Boyapati and Brandon Black (aka reardencode) rejoin me for a special episode to discuss: 

    • What makes Bitcoin special? 

    • Defining ‘ossification’

    • How many users is ‘enough’? 

    • Unknown unknowns

    • Addressing centralising MEV concerns

    • Soft forks and hard forks

    • Economic nodes and who holds the power

    • Where to from here

    Timestamps:

    (00:00) - Intro

    (01:54) - What makes Bitcoin Special? ft. Vijay

    (09:37) - Verifiability & decentralisation of Bitcoin ft. Brandon

    (14:31) - When do we stop ‘changing’ bitcoin?

    (15:17) - Revisiting the blocksize wars & importance of self sovereignty

    (20:45) - Libertarian principles of Bitcoin

    (23:48) - ‘Sufficiently decentralised’ Bitcoin

    (26:42) - Defining ‘Ossification’ of Bitcoin

    (30:56) - Sponsors

    (34:11) - Economic interests in upgrading Bitcoin nodes

    (43:40) - Bitcoin is a Trojan horse

    (47:15) - Can we rule out ‘Unknown unknowns'?

    (50:49) - Concerns over centralising MEV

    (1:00:17) - Whose chain is it anyway?

    (1:05:14) - Resisting soft forks and hard forks

    (1:16:49) - Closing Thoughts

    Links:

    Prior episodes:

    Sponsors:

    Stephan Livera links:

    12 June 2024, 11:58 am
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