PODCAST

Bitcoin Unlocked

Andrew Keir

A daily letter about bitcoin & the future of money unlocked.substack.com

technology investing

All Episodes

4:59

Just Print More Money..

Bitcoin Unlocked ·

2022/05/20

Good Morning Everyone,We’ve descended so deep into clown world at this point, that it almost feels as if no one with any kind of influence or power is either paying attention or has any idea what they’re doing.We’ve witnessed Lebanon’s central bank blow up, as their currency essentially hyper inflated into oblivion leaving many broke, homeless and hungry.We’ve more recently seen the central bank of Sri Lanka default on their obligations. Yep. They’re broke as well. This has led to major societal

4:11

Don't Listen To What They Say; Look At What They Do

Bitcoin Unlocked ·

2022/05/19

Good Morning Everyone,“Don't Listen To What They Say; Look At What They Do”I first heard this heuristic from Nassim Taleb and it refers to the fact that words are cheap. There is far more signal in peoples actions than in their words. Simply put people can say whatever they like. And they do. People talk all kinds of bs with little concern for accountability. Especially with the pace of informational transmission with the internet and social media, the news cycle is so fast these days, that the

5:24

The Fiat Disease

Bitcoin Unlocked ·

2022/05/18

Good Morning Everyone,The concept of saving is likely something few people give much thought to. It’s somewhat intuitive. If we eat all the food in the fridge and have no money saved, then we cannot buy anymore food until we get more money, and if we get hungry in the interim this poses an issue and will likely cause us some discomfort. Suboptimal. So we have to either save some food or save some money to maintain some level of certainty about the future in this very small example.The concept of

4:36

Be Greedy When People Are Fearful

Bitcoin Unlocked ·

2022/05/17

Good Morning Everyone,Understanding financial markets whether it be from an investing or trading perspective is not easy. There is myriad complexity despite what you may hear or some people may have you believe. The mechanics of how the system actually works are opaque at best and the incentives that exist as a result of how the system operates given the complexity of incentives at play, and also the positions of different entities or nodes within the network, differ significantly and alter the end

3:33

Harder Than Gold. Faster Than Fiat

Bitcoin Unlocked ·

2022/05/12

Good Afternoon Everyone,I’ve spent the day on the road driving from Melbourne to Moruya for skydiving event i’m coaching at this weekend. It’s about a 9 hour drive. I was pleasantly surprised when i loaded up youtube to find a new discussion with Dr Saifedean Ammous and Lex Friedman on Lex’s podcast. Here is a link to the podcast. I cannot recommend this enough. It’s is easily the best pod i’ve listened to this year. One of the best I’ve ever listened to, and without question my new go-to to orange

4:54

UST: The Not So Stable Coin

Bitcoin Unlocked ·

2022/05/11

Good Morning Everyone,The hopes and dreams of many shitcoiners were shattered yesterday as Terra - the so called algorithmic stablecoin - lost its peg and went into freefall. It went as low as 0.61c and has since “recovered” slightly and is hovering around 0.70c at the time of writing.It’s a rare day that I would waste a seconds energy on a shitcoin, but this scenario is simply too comical not to discuss, and while it sucks that many people likely will have lost a ton of money gambling on this

5:24

These Times Are For Learning

Bitcoin Unlocked ·

2022/05/10

Good Morning Everyone,As most of you know i tend not to talk too much about bitcoin price action in these letters, as i view the price relative to USD shitcoins as more of a distraction than anything else, as the true unit of account in my opinion is bitcoin or sats. Measuring this truly inelastic asset against something that has and will continue to be created into infinity makes little sense in my mind, and it’s not until you replace your UOA for sats that the true state of play begins to become

2:57

Central Banks Continue To Oppose Bitcoin

Bitcoin Unlocked ·

2022/05/09

Good Morning Everyone,Back at it after a short break. I was away travelling for a couple of weeks skydiving in outback Queensland, and then managed to get myself the flu (yes covid), so I’ve been resting up for a week while my energy levels normalise. Pleased to be back to 100% now, so lets waste no more time.A lot has happened over the last 2-3 weeks. Risk markets have continued their risk-off posture and asset prices have acted accordingly with powerful moves to the downside being sustained

4:55

Humans Are Control Freaks

Bitcoin Unlocked ·

2022/04/14

Good Morning Everyone,Markets are a funny thing. They’re insanely complex in many respects, and they can also be boiled down to a pretty simple truth about someone having something to sell and a separate person looking to purchase that something. Perhaps one of the most fascinating things about “a market” is that they emerge more or less spontaneously. They can emerge for myriad reasons but they only really survive through time if there is ongoing supply met with ongoing demand. What I find really

3:55

Inflation: They Think You'll Believe Them

Bitcoin Unlocked ·

2022/04/13

Good Morning Everyone,Inflation in the US has been at 40 year highs for the last number of months and the most recent ‘official’ numbers came out this morning with the trend continuing -printing 8.5% month-over-month inflation. Of course the propagandists would have you believe that this is not from increasing the money supply or disrupting supply chains and commerce globally in response to the flu - it’s all Putins fault of course. “The Putin Price Hike” is the official inflation slogan coming out

3:31

You Catch More Bees With Honey

Bitcoin Unlocked ·

2022/04/12

Good Morning Everyone,I’ve had the phrase “you catch more bees with honey” floating around in my mind for a couple of weeks after listening to a pod with Robert Breedlove on What bitcoin did. As a kid growing up my mum used to say this to me from time to time. It’s a common turn of phrase and is essentially referring to incentives, and the fact that it’s most effective to focus on properly motivating humans toward the ideal outcome as opposed to always reaching for the stick.As humans operating in

1:35

Bitcoin For The Weekend #5

Bitcoin Unlocked ·

2022/04/08

Good Morning Everyone,With the bitcoin conference currently underway in Miami there has been a ton of announcements and hype around the orange coin and as you would expect a lot of people fixated primarily on price as a result. I feel while number go up, is highly probable over time (as close to certain, without being certain), to focus on the very narrow detail of price truly is to miss the forrest from the trees. What bitcoin is enabling is so much bigger than simply capital appreciation or some

2:57

Non-Custodial Multi-Asset Capabilities is Coming

Bitcoin Unlocked ·

2022/04/06

Good Morning Everyone,Taro which stands for Taproot Asset Representation Overlay is a brand new bitcoin improvement proposal, or BIP. It is a protocol designed to enable low-fee multi-asset transfers via the bitcoin and lightning network.Lightning Labs have developed this new protocol and have raised $70m in order to help bring Taro to life.I realise most of you are non-technical, so i’ll spare you the complex details. If you want to get a more detailed understanding, i’d direct you to this post

5:43

Central Banks Want You To Stay Asleep

Bitcoin Unlocked ·

2022/04/06

Good Morning Everyone,This morning the Lebanese Government has announced the state and the central bank are officially bankrupt. This announcement comes on the anniversary of the US government confiscating gold from their citizens 89 years ago. The Lebanese deputy prime minister had this to say:“The losses will be distributed to the state, the Banque du Liban, banks and depositors, and there is no specific percentage. Unfortunately, the state is bankrupt, as is the Bank of Lebanon, and we want to

3:04

The Mainstream Are Going To Be Forced Down The Rabbit...

Bitcoin Unlocked ·

2022/04/05

Good Morning Everyone,The sanctioning of Russian central bank reserves by the G7 marked the end of the Bretton Woods II monetary system (1971-26/2/2022). As a result, the world is going to continue to transition away from the petrodollar and the US T-bill standard and toward a new monetary order as yet unknown.What this new monetary order will be, nobody knows for sure. We can only speculate for now. Something that just struck me when thinking about this transition is that a major symptom of this

4:35

Only 2 Million Remain

Bitcoin Unlocked ·

2022/04/04

Good Morning Everyone,The concept of a truly inelastic and verifiably scarce digital asset is something that i believe remains alien to most humans on the planet at present, despite having existed for some thirteen years already and being completely in the open. It’s a concept that on first glance sounds fairly simple and straight forward, but it’s such a conflicting notion compared with the world of money printing and pricing signal-distortion in which we have become accustomed, leading most to

3:18

Bitcoin For The Weekend #4

Bitcoin Unlocked ·

2022/03/31

⚡️ Bitcoin For The Weekend ⚡️Article: The Blocksize War Review - Nic CarterPod: What Bitcoin Did w/ CKBook: The Bullish Case For Bitcoin - Vijay BoyapatiGood Morning Everyone,It feels like there is a ton going on in the background right now, whether it be the outright attack on bitcoin via a bogus climate change narrative or the EU parliaments incoming crack down on “unhosted” wallets, which is essentially an attack on an individuals property rights - which is absolutely wild when you think about it

2:30

Think Different: Bitcoin

Bitcoin Unlocked ·

2022/03/30

Good Morning Everyone,Jack Mallers reminded me of the inspiring Apple marketing campaign from back in the 90’s when he recently shared the ad designed around the slogan “Think Different”.There is also a link here which is actually narrated by Steve Jobs. I wanted to actually read through the text for you, as it resonated with me on a deep level. It is as if it were written about bitcoin, about Satoshi, and every bitcoiner out there that see’s clearly why this mission is as important as we believe it

4:34

The Bitcoin Community Is Not Priced In

Bitcoin Unlocked ·

2022/03/30

Good Morning Everyone,A slew of energy FUD hit the internet this morning courtesy of a greenpeace US twitter account claiming that Bitcoin specifically is driving climate devastation and includes a hashtag “change the code” linked to a marketing campaign advocating bitcoin to adopt a less energy intensive consensus mechanism. They have created a website at the domain cleanupbitcoin.com. The first line of text on the main-page reads “you’ve heard bitcoin fuels the climate crisis” which is so

4:57

Free The Market, Free The World

Bitcoin Unlocked ·

2022/03/29

Good Morning Everyone,We’re at a fascinating point in human development (or regression depending on how you think about it) where the oozing of hubris is at all time highs and the absurd belief that we can control everything has gone mainstream. We can’t even control ourselves, let alone anything else. We (on a collective societal level) completely discount the incomprehensible complexity of a world we exist as only a small part of and have become numb to our naive interventionism as so many seem to

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