Don't have enough time to sit down and read all the best Bitcoin articles. Well, let us read them for you. This is a crypto Konami quick read. What is up? Crypto Konami crew? Welcome back to the show. I am your host guys Swan the guy who has read more about Bitcoin then anybody else, you know, and current orange number is at according to my etoro app here is ninety nine hundred dollars and 48 and yeah, we're looks like we're kind of going sideways. So, you know, I don't think I'm gonna do anything. I'm waiting to see like I'll buy you know and put in my position for the bull market when we have like a dip and I don't see anything here yet on the on our etoro charts looking still just go in sideways and maybe it doesn't but if it breaks up through resistance, I'll probably go ahead and start putting in my position here, but I am just sitting tight right now. We will see let me know if y'all have any different strategies. And don't forget to check out etoro. I've got that link in the show notes. Now. We are doing another bun read today. We are doing a historical one that is just epic and it's one that I'm surprised. I have not hit on the show before and they know the one made available by these Satoshi Nakamoto Institute a huge. Thank you. If you are if you guys are not taking like a day out of the week to go to the Nakamoto institute.org and Just like pick something out of their literature and read it. You're really missing out. So hopefully hopefully I'm doing that for you. You know, that's kind of why this show is here and we have got a little bit of gold today with Nick szabo's bitgold proposal which is on the Nakamoto Institute and it is a short one, but it's just it's so cool to hear the thinking and the The the explanations of how to create trust or distribution and like eliminate these third parties in a system that was a precursor to bitcoin and this was almost three years to the day. It's like 3 years in the 30 20 30 $30 like five days before the Bitcoin Network launched before we got the Genesis block. So it was basically three years before and Nick Szabo released is Bit gold proposal and so we are going to read through this one and just talk about how crazy all the crazy similarities and how interesting and the thinking around these problems was in a space where we you know, you didn't really know whether this problem is solvable like it had never been done before in this was a completely unique thing to tackle at the time. And it's just really it's really fun to go through people's perspectives. Like Nick Szabo like all these cypherpunks were working on this problem then and just see how they were thinking about it before there was essentially something to work from as the default position or as the default solution. I guess you could say So before we jump into this one, I just want to say another thank you to the Nakamoto Institute for posting all of this awesome information so I can just go up here and read to my heart's content about all of this amazing stuff and also provide it in audio for you guys. I am extremely sad that I somehow missed it by like I got my invite for the Satoshi Nakamoto Institute dinner before the bit block. Boom conference and then just didn't buy it that night and like a day or two later. I just procrastinating on was like oh good. I got an invite and then in no time. I got an email that said they were full up and the weren't letting anybody else in and I was like well shit, so here is my plea to the Satoshi Nakamoto Institute guys, if any of y'all listen to this, I would really love to come out that night before bit block boom and hang out. With y'all. So if if you can squeeze in one more person let me know. That would make me very very happy. I will be there that night looking for something else to do and on that note if anybody else is coming into town for bit block boom. Don't forget about my discount code CC that'll get you 30% off those tickets. All right. So without further Ado, let's go ahead and jump into Nick Szabo those fascinating proposal. for bit gold published on December 29th 2005 A long time ago I hit upon the idea of bitgold the problem in a nutshell is that our money currently depends on trust in a third party for its value as many inflationary and hyperinflationary episodes during the 20th century demonstrated. This is not an ideal State of Affairs similarly private banknote issue while it had various advantages as well as disadvantages similarly. to own a trusted third party precious metals and Collectibles have an unforgettable scarcity due to the costliness of their creation this once provided money the value of which was largely independent of any trusted third party precious metals have problems. However, it's too costly to assay Metals repeatedly for common transactions. Thus a trusted third party usually associated with a tax collector who accepted the coins as payment was invoked to stamp a Amount of the metal into a coin transporting large values of metal can be a rather insecure Affair as the British found when transporting gold across a U-Boat invested Atlantic to Canada during World War One to support their gold standard. What's worse. You can't pay online with metal. Thus it would be very nice if there were a protocol where by unforgeable E costly bits could be created online. Wine with minimal dependence on trusted third parties and then securely stored transferred and assayed with similar minimal trust bit gold. My proposal for big gold is based on Computing a string of bits from a string of challenge bits using functions called variously client puzzle function proof of work function or secure Benchmark function. The resulting string of bits is the proof of work where a one-way function is prohibitively difficult to compute backwards a secure Benchmark function ideally comes with a a specific cost measured in compute Cycles to compute backwards Cure are the main steps of the bitgold system that I envision? One a public string of bits. The challenge string is created. See step 5. To Alice on her computer generates the proof-of-work string from The Challenge bits using a benchmark function. Three the proof of work is securely time-stamped. This should work in a distributed fashion with several different timestamp services. So that no particular time stamp service need to be substantially relied on for Alice adds the challenge string and the time-stamped proof-of-work string to a distributed property title registry for bitgold here to no single server is substantially relied on properly operate the registry five the last created string of bitgold provides the challenge bits for the next created string. six to verify that Alice is the owner of a particular string of bitgold Bob checks the unforgeable chain of title in the bitgold title registry in seven to a say the value of a string of bitgold Bob checks and verifies the challenge bits the proof-of-work string and the timestamp Note that Alice has control over her bitgold does not depend on her sole possession of the bits, but rather on her lead position in the unforgeable chain of title the chain of digital signatures in the title registry. All of this can be automated by software the main limits to the security of the scheme are how well trust can be distributed in steps 3 & 4 and the problem of machine architecture, which will be discussed below. How Finney has implemented a variant of big old called are poww reusable proofs of work this relies on publishing the computer code for the quote mint which runs on a remote tamper-evident computer the purchaser of big gold can then use remote attestation which Finney calls the transparent server technique to verify that a particular number of Cycles were actually performed. The main problem with all of these schemes is that proof-of-work schemes depend on computer architecture? Not just an abstract mathematics based on an abstract compute cycle. I wrote about this obscure Lee several years ago. Thus it might be possible to be a very low-cost producer by several orders of magnitude and swamp the market with bitgold. However, since bitgold is time-stamped the time created as well as Mathematical difficulty of the work can be automatically proven from this it can usually be inferred what the cost of producing during that time period was unlike fungible atoms of gold. But as with collectors items a large Supply during a given period of time will drive down the value of those particular items in this respect bitgold acts more like collectors items than like gold. However the match between This ex post market and the auction determining the initial value might create a very substantial profit for the big gold miner who invents and deploys and optimized computer architecture. Thus bitgold will not be fungible based on a simple function of for example, the length of the string instead to create fungible units dealers will have to combine different valued pieces of bitgold into larger units of approximately equal value. This is analogous to what many commodity dealers do today to make monetary markets possible trust is still distributed because the estimated values of such bundles can be independently verified by many other parties in a largely or entirely automated fashion in summary. All money mankind has ever used as been insecure in one way or another this insecurity has been manifested in a wide variety of ways from counter. fitting to theft, but the most pernicious of which has probably been inflation bit gold May provide us with a money of unprecedented security from these dangers the potential for initially hidden Supply glut due to Hidden Innovations in machine architecture is a potential flaw in big gold or at least an imperfection which the initial auctions and ex post exchanges of big gold will have to address For anyone who has a podcast anchor cannot be beaten particularly for trying to get off the ground their entire platform is free. This includes unlimited hosting both in audio that you upload and how much your listeners download. I have uploaded an incredible library of audio now and I've never paid anchor a dime. In fact, they connect me with other sponsors and have run an ad consistently on my show. So they've paid For exposure to my audience that's really hard to beat even if we ignore that I can record directly in the app or my browser. I don't need any other software. If I don't want it I can edit at sound effects clips and they automatically publish to all of the top podcasting platforms. I never had to do a thing. So if you were thinking of starting a show or already have a podcast, there's no better platform out there check out anchor by downloading the app or go to Anchor dot f FM today And that concludes knit szabo's bitgold proposal published on December 29th, 2005. And again hosted by the Nakamoto Institute. That is at Nakamoto institute.org again. I cannot stress this enough. They have an amazing collection of historical pieces and articles and essays breaking down all the key principles of economics and Philosophy and the technology behind Bitcoin just just a wonderful place to go to hit all of the really core ideas that built this system from all the way back to things like the diffie-hellman key exchange like back in 1976. The very first public-private key cryptography systems, like all these kinds of things just so much to dig into just a wealth of knowledge. So definitely check those guys out now before we dig into this proposal and we talked about how unbelievably just just fascinating the to the system that he thought up is and how closely it resembles literally the Bitcoin system that actually solved this problem. Let's take a minute and talk about our new sponsor The etoro Exchange. These guys are a crypto currency exchange the Around a long time in this industry. So they're trusted they've built up a huge user base. They've got over 10 million users. Now. I've been using the app recently and loving it. I've been following the Bitcoin price with a different app for ages and but they never had a Candlestick chart. So like now etoro has immediately become my go-to app just for checking the price because they have it Candlestick chart and I really like this. That's the view that I prefer and it's the one I'm most. Familiar with but one of the really neat things about their platform is that it's a social network on top of just being an exchange so you can you can actually watch the best Traders and study there their entire order history. I mean, you can literally just copy their trades if you want. It's just totally open and they have like this news feed. So that's taken a break a little while ago and reading a post by a traitor who shared an article by Pantera Capital that was saying BTC was currently way undervalued and it was Like estimated a $300,000 per bitcoin price in like 20 22, I believe it was a bunch of comments going back and forth about you know, whether whether it made any sense or like what their theories were and thought it was hilarious because a couple of xrp Scheels jumped in and added thereto sent their there too. It's not just crypto Twitter. They're everywhere that there is social discussion and they were just talking about how Bitcoin I was going to zero and ripple was going to take over the world but is a really great place to discuss strategy and find other traders who know what they're talking about. So you can build your own portfolio and you can trade 14 of the top cryptocurrencies 13 of which any of you Bitcoin maximalist out there can bet against which would have paid off. Wonderfully this year. So check out the link to etoro in the show notes, and I also put it in Twitter post. So you can just go up explore their platform. It takes no time at all. You don't have to do all the kyc stuff just to get up there and create an account. It's just like a couple of steps to create an account. You just have to do that before you deposit money. So you can go ahead and start exploring their platform and start trading with virtual money. You can get a just switch over to your virtual account and trade with fake money so you can get comfortable with it, you know, see how your trading skills stack up against the rest of the community, so don't forget to check the I'm out. That is etoro ET Oro. So this is one of the most fascinating things to me to be able to go through these precursors like be money and hashcash and reusable proof of work and a bit gold obviously here and just kind of see their perspective and I loved I loved it this entire piece starts out with this quote. It's the second sentence. Yes, the problem in a nutshell. Is that our money currently depends on trust. But in a third party for its value and that's one of the most interesting things is that we're requiring like the supply and demand side of this the securing of the supply of all of our money is dependent on trusting someone else. This isn't about you know, the ability to transact per say this isn't about the ability to even though that's deeply attached to this nature. It's about the fact Its value is not natural its value is dependent on a third-party doing what they are supposed to do to make a good money. It's money as a service rather than money as a natural good and I thought that was a really I love that. That's the that's the problem. That is the problem here. It's not do we have Visa level transactions? It's not do we have a really good and easy to use? Use digital app for money. It's not it's none of the surface problems. It's the core problem of how does it obtained and how does it keep how does it secure its value? And another quotes is precious metals and Collectibles have an unforgettable scarcity due to the cost leanness of their creation this once provided money the value of which was largely independent of any Trusted third party that value was obtained naturally in the market and there was no trusted third party that could screw with the the value of the metal they could screw with the value of gold or the scarcity of gold because of that unfortunate scarcity. It was an unfortunate costliness. If you haven't listened to shelling out Nick's avos quintessential no questions asked you have to listen to it if you're in Bitcoin piece. You definitely should I will link to that engine into the show notes into the show notes in the show notes, but there are problems with this the metals in this sense. He says they're too costly to assay Metals repeatedly, he's talking about like in normal transactions and assay is Assa. Why what that word means and what he's talking about is verifying. This is in fact gold. This isn't painted lead that it's the It's the verification that you're trading the actual natural monetary good. So that's why we really had to rely on coinage which is another form of trust. We trust the institution that stamps it because we can't verify at every single transaction. And again, that's another major piece of this puzzle is to verify its integrity. That's the verifiability element. That's so crucial to bitcoin and which is why the argument is so strong for Small blocks is that anyone can run a node? Because if you can't run a full node and verify all the way back to the proof of work that established each coin and you cannot verify the entire the entire sequence of history for each coin and the entire audit of the Bitcoin system for how much exist versus the rules and how far we have come like with the block height and stuff if you cannot verify all of that information Nation quickly. Well, then you run into the exact same problem is that limited gold so so much in its and it's trust is that you're trusting a third party to act as coinage. Like if you're just trusting the proof of work of the most recent blocks with the UT at the current UT exocet the current set of addresses that have Bitcoin balances that's like trusting coinage you were essentially trusting that the miners are coining actual Bitcoin, but you've not verified it for yourself. You don't Don't know its Integrity you are trusting someone else knows its Integrity. So that's another really important element that he didn't love the he addresses immediately at the beginning of this is like that's one of the big problems with Metals is you cannot assess a it on an ongoing basis. It's too it's too much of a pain in the ass. And of course, obviously you cannot pay online with a metal and so so he comes up with this idea of using a kind of based off of the reusable proof of works of how Finney and the the concept of proof of work which has been around for a while and they've been playing with it. I love is called client puzzle function. I'd never heard that term proof of work function secure Benchmark function. He kind of uses Benchmark function throughout the rest of this but the quote said that the Benchmark function ideally comes with a specific cost. Measured in compute Cycles. So that's this, you know, the basic idea of proof of work is that we can estimate exactly how much computing power it took to solve the to find a solution to the proof-of-work problem, which is in there. Which in Bitcoin is the difficulty whereas in the big gold system and he's refers to it as a challenge bit, but that's essentially what it is is establishing the difficulty of the next proof-of-work stream. Mmmmm. So the basic idea of this is very similar to hashcash and thinnies are po W in the verifiable cost can be estimated by essentially measuring the challenge string like how difficult is it versus the cost of the computing power involved to find that solution and then he goes through his the the six no. No, excuse me the 7 Apps and ending with the ability to verify that to a say the value of the string of big gold that you would check and verify the challenge bits the proof of work and the time stamp now three or four three and four, there's another quote all of this can be automated by software the main limits to the security of this scheme are how well trust can be distributed in steps 3 & 4 step three was the proof of work being time-stamped and this should work in a distributed fashion. And several different timestamps services. So no particular Services being relied on and then for that the challenge string and timestamp proof of work is added to a distributed property title registry which actually links to one that we have another one that we have read on the show The secure property titles with owner Authority another great one that was published back in 1998. We covered that one and talk all about how You could create digital property and a essentially a public registry system where only the owner it has any capacity to actually edit that registry and that's another really interesting. I'll link to that in the show notes because if you haven't explored that one at all another really great one to dive into and in this sense, the distributed property title registry is the blockchain that's what that is. That's what the that's what the block. Chain is used for its to keep the entire history of who the owner is to enforce that ownership and it is also the timestamp server essentially. So with his with his model he kind of just was thinking okay. Well, we'll just distribute the timestamp server will use a bunch of different ones that we don't have to essentially trust any single timestamp server, but that still runs into a huge problem because you're still running a you're Trusting some other computer to timestamp and if that's where you're trying to decide who's the next one in the challenge string and a string of challenges and solutions and challenges and solutions. Well, then obviously, it's kind of the nature of trusting someone else to your verification for you is that the network can be Sybil attacked somebody could spin up this ever became immensely valuable somebody could spin up a lot of fake timestamps. Servers with you know, no problem at all and then start screwing with how things are ordered or which transactions are actually accepted into this distributed property registry or in our case the blockchain. It's interesting because the system does still depend like whoever the owner of the bit gold is is the fact that they are in the lead position of the chain of title and that because they're using this one-way function to prove these challenge bits. You can't redo it or well it has extremely high cost to redo these things and that's that's absolutely that's the concept that Bitcoin. Relies on just in a slightly different and not even that seriously different. There's one. There's like one or two major shifts conceptually from this that make the Bitcoin system possible and the big one is in the challenge bits and the time stamping because rather than just me and he talks about it that the main issue of this of the scheme aside from The fact that we're relying on the distribution of the timestamp server and the security and distribution of the property title registry again, both of these being the distribution and verification verifiability of the blockchain when it comes to bitcoin. But the limitation with the advancement of computer architecture because in this system, the challenge string was the actual token being exchanged the string of bits was the proof of work. So there's an there's an issue that like if somebody created incredibly powerful computer that they could flood the market with a lot of bitgold and it would be based on the limitations of computing the And the computer architecture for the actual issuance of this thing and he noticed and essentially brought into the idea that they might they would likely not be fungible because each individual bid with a different proof of work would have a different for gerbil costliness. I mean, excuse me, unforgeable costliness. So because of that, you know, an older coin might have been created with a very small proof of work. Work but a newer coin might have an enormous proof of work based on like the challenge bits is things went forward and they would actually be an any kind of like recognize that this would make it more like Collectibles rather than being able to make these things fungible like actual gold and it would require a market to basically value these tokens like and group them together or maybe group together these bits these these unforgeable bits. Into the amount of value that they had like so you could like group a bunch of small bits small of these bitgold strings together in order to be equal to the proof of work of a later bit that has a much higher proof of work. So you would run into a situation where you would have to have a market that with luckily because you can actually estimate and compare the value of these two things. You know, that bit a is roughly. Lee 1/10 of the proof of work of bit B and you can put these things together and then value them based on the degree of their proof of work, but that's one of the main issues and obviously fungibility. I think despite the fact that it may have been made of created some sort of collectible and valuable token in some way. It still has a massive problem in that they are not fungible and that's where that's where it says the main thing that Bitcoin change that the Bitcoin system when Satoshi wrote the white paper and like coded out the Bitcoin system was that the proof of work was actually separated from the token and and this in this solved the same problem with the computer architecture. It solved the problem with fungibility and it helps solve the problem of the tribution of the timestamp server. So the difficulty adjustment was one of the major the key Innovations of the Bitcoin system because it's enforced by every single person on the network that is a saying the token that is analyzing and verifying this token and they separated the proof of work from the actual token so that it could it could perform a dual function rather than just the single one of creating the unfortunate. Costliness so in Bitcoin proof-of-work acts both as to reach consensus on the most recent time stamp because the proof of work is reliant on the last one much like the challenge bit from the previous one. So the orders the transactions in the chain and allows allows a an objective version of the timestamp server, my not really trusting. You don't have to trust the timestamp. You trust the the order. ER of the proof-of-work stamps and and it puts everybody on the same page with the title with the registry the property title registry the blockchain who's who owns what which page of this blockchain are we on? What's the most recent version of it? Now, we have a completely distributed way to pull that off because proof of work does that amazingly well, but then at the same time that proof of work is still used as Roof for the validity like for valid issuance of the token, but the token is independent of the proof of work outside of its issuance outside of that. You can trade it. You don't keep the proof of work like you don't you don't take the block header of whatever block created, you know, Bitcoin a you don't trade it around with the Bitcoin. Every time the Bitcoin itself is just a token that is valid as long as you can go back and find the proof of work and it follows the Jesus rules through the through its entire lifespan. So the proof of work no longer acts as the token itself, which is what hashcash and bit cult big gold and reusable proof-of-work proofs of work did with how finny's so and that's one of the most amazing things is the proof of work still serve the purpose of making it. Unfortunately that they're still an immense cost to fake a Bitcoin and then the difficulty adjustment. So when we have these huge advancements in computer architecture in a sex and GPU miners the difficulty adjustment of the network by by using the this huge Network for timestamps and ordering this registry. Well now we can use the time stamp to decide exactly how much work the next group or the network has to perform to keep adding to this. ledger to keep issuing new Bitcoins these new tokens in order to keep this thing stable to act as a buffer between the vast changes in computer architecture, which is ABO recognized was a big problem to solve and the difficulty adjustment in separating proof-of-work from the actual token solved that problem solved the distribution of the title registry and solved the distribution of the timestamps server is Just fascinating to think that just just a just a couple key changes made all the difference in this concept to build. What was actually Bitcoin and created a independent property title registry which again property without or securing property with owner Authority is another is just a really great piece. I encourage you to go back and listen and or read that one again that was on the Nakamoto. Oh Institute, all of those actually read off on the Nakamoto Institute the collection of Zappos work up there is massive and it's just and I love the has to fly and suzu also have a really great piece. That's one of my favorite in their Skeptics guy to bitcoin how they talk about that. Bitcoin is actually independent property. That's its main use case and that was a really another really great article. I guess I have to add that show notes show notes. The list of stuff in the show notes is I'm getting really really long, but just a really great one. I sat down and read this first thing this morning. I was like damn I can't believe I never actually of all the things I read about the big gold proposal. I never actually went back and read the actual big ol proposal the the one that he published to, you know, talk about the system and the concept behind it, and it's just it's fascinating to see how close how close is all of this was for a decade before Satoshi finally filled in the gaps and made those couple of little tweaks and found the found the perfect use for proof of work that still implemented what they knew had to be there the unforgeable costliness, but without attaching it to the actual bit to the actual quote unquote gold token that is being exchanged in the system and I just love going through this. I'm geeking out on this shit is like why I do this show. So I hope you guys enjoyed that. I don't think I have anything else in my notes to cover just a really fun piece of cypherpunk History to go through and see just how much work and thought went into putting this thing together and what a brilliant system that came out of it. I mean the number of people that were working on. This and just beating these ideas to death to figure out where all the weaknesses are. And now we have Bitcoin which 10 years down. The road is more secure than anybody could have ever imagined takes hundreds of thousands millions of dollars for just an hour's worth of security for any transactions or the tokens on it that are secured just all the different pieces the moving pieces and incentives in this system. It's just utterly brilliant is one of the most beautiful things I ever. When I first, excuse me, I have a red when I first stumbled upon it and Jesus eight years odd some eight odd years later. It's still just fascinates me. So I hope you guys enjoyed that episode breaking down some big gold by Nick Szabo cypherpunk extraordinaire another thank you to this Satoshi Nakamoto Institute for making this easy to just go up and click on your literature Tab and have myself a wonderful after breakfast read. So thank you to those guys. Do not forget to check out the Nakamoto institute.org and if any of my listeners are not following Nick Szabo, I don't I don't know. You should just unfollow me or follow Nick Szabo, so That would that would be at that will be it will close this one out here. Thank you guys so much for listening. Don't forget to check out the etoro exchange our new sponsor. It's been really great and spent a good solid week researching these guys and I'm really happy with the exchange. I'm glad I have somebody real serious to promote on the show. So definitely check those guys out. I will have their Link in the show notes so you can set it up or download your wrap again takes hardly any time at all and that will be with the other episodes that I will link to that will be the Nick Szabo shelling out. Let's see securing property with owner Authority. I'll do that one and then I'll add in has to fly and Sue's piece on Independent property rights and how exactly what it is that Bitcoin is challenging. Let's let's Bitcoins actual competitive. Image so those are really really great pieces to follow up with this one and dig a little bit more both in and saw bows work and in the idea of Bitcoin as an independent property registry essentially, so thank you guys for listening. This is the crypto economy with guys Swan. That's me and this is where you will learn all about the cypherpunk history the the all the fascinating Concepts and technology that culminated and I don't even know how much you would call it. Probably since the late 70s like 40 years of work that went into these Concepts and built the foundation for a secure way to communicate value in the digital world. And that's what's happening. We've it has been invented and there's no going back and we are heading like just like on a bolt of lightning into the Crypt economy where I think we're We have the possibility of a future where we can get our privacy back we can get our sovereignty our Liberty where we can be in control of our own lives because of this technology and this new ecosystem that is being built. And this is where you're going to hear and learn all about it. This is the crypto economy podcast with guys Swan. Don't forget to share this out with everybody else. You know, who's peering down the rabbit hole and wants to see this crazy New World being built. I will be here to tell you all. About it. Thank you guys so much. Don't forget to follow at the crypto economy and I will catch you all next time. Take it easy guys.
There were many precursors to the Bitcoin system, but IMO, none came as close to correctly defining the problem, & solving the key issues of trust as Nick Szabo's Bit Gold concept. Reading another great piece made available by the Nakamoto Institute, we read and discuss the incredible prescience of Szabo through one of Bitcoin's forefathers, Bit Gold. Check out the amazing collection of literature at the Nakamoto Institute and see the original piece at the link below: https://nakamotoinstitute.org/bit-gold/  Other great work from Nick Szabo includes the #1 must read of anyone who wants to understand Bitcoin, "Shelling Out, The Origins of Money" https://anchor.fm/thecryptoconomy/episodes/Shelling-Out---The-Origins-of-Money-e2ndom Securing Property with Owner Authority: https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_118---Securing-Property-with-Owner-Authority-e2ndqs Another I forgot to mention that pairs well with today's episode, "Formalizing Network Realtionships" https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_214---Szabos-Formalizing--Securing-Network-Relationships-Part-1-e3953d And Lastly @Hasufl and @zhusu's piece "Bitcoin and the promise of Independent Property Rights" https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_225---Bitcoin--the-Promise-of-Independent-Property-Rights-e3j6b8  Don't forget to download and check out the eToro Bitcoin exchange and app at the link below: http://go.thoughtleaders.io/1195720190725  ---   This episode is sponsored by  · Anchor: The easiest way to make a podcast. 