Stephan Livera Podcast

• Decentralizing Bitcoin Mining with P2Pool V2 with Jungly | SLP690

  In this conversation, Jungly discusses his work on P2Pool V2, a decentralized mining pool aimed at improving upon the limitations of the original P2Pool. He emphasizes the importance of decentralization in Bitcoin mining and explains the technical innovations that P2Pool V2 introduces, such as sharechains and atomic swaps for non-custodial payouts. Jungly also highlights the need for community involvement and developer engagement to ensure the project's success, and he shares his vision for a more accessible and efficient mining ecosystem.Takeaways:🔸Decentralization of mining is crucial for Bitcoin's future.🔸P2Pool V2 aims to improve upon the original P2Pool's limitations.🔸The sharechain concept allows for better scalability and efficiency.🔸Atomic swaps enable non-custodial payouts for miners.🔸Community involvement is essential for the success of P2Pool V2.🔸Technical innovations like uncle blocks enhance the mining process.🔸The goal is to create a decentralized mining pool that is accessible to all.🔸Testing and developer engagement are key to building trust in the software.🔸P2Pool V2 can support a large number of miners without centralization.🔸The project is actively seeking developers and testers to contribute.Timestamps:(00:00) - Intro; Why is P2Pool V2 important?(02:31) - The evolution of P2Pool(04:40) - What is the custodial payout model?(06:17) - Limitations with P2Pool  (12:51) - Comparing P2Pool V2 with Stratum SV2 & DATUM(16:19) - What is required to run P2Pool V2?(18:15) - What is a sharechain?; What is an uncle block?(22:04) - Sponsors(23:14) - Payout mechanisms in P2Pool V2(27:50) - How can a decentralized mining pool scale?(32:09) - Can there be multiple instances of P2Pool V2?(35:50) - How does atomic swap work for payouts?(43:08) - Current progress of P2Pool V2(50:25) - Closing thoughtsLinks: https://x.com/jungly https://github.com/pool2win/p2pool-v2 https://x.com/jungly/status/1959882520855535827 Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

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• LQWD’s Strategy: Lightning Network and Bitcoin Treasury with Shone Anstey | SLP689

  In this conversation, Shone Anstey, CEO of LQWD, discusses the evolution of his company from a Lightning Network service provider to a Bitcoin treasury company. He shares insights on the current state of the Bitcoin market, the importance of the Lightning Network, and the strategies LQWD employs to accumulate Bitcoin and generate yield. The discussion also touches on the unique aspects of the Canadian market, the significance of mNAV and Sats per share, and the potential future of Bitcoin and Lightning in the global economy.Takeaways:🔸Bitcoin is a trust protocol first and foremost.🔸LQWD started as a Lightning Network service provider and evolved into a treasury company.🔸The Lightning Network is crucial for fast and secure Bitcoin transactions.🔸Accumulating Bitcoin is a key strategy for LQWD’s business model.🔸The Canadian market offers unique opportunities for junior companies.🔸Understanding mNAV and Sats per share is essential for assessing treasury companies.🔸The Lightning Network is becoming the payment layer of the internet.🔸Yield generation through Lightning Network is sustainable even in bear markets.🔸Bitcoin has the potential to fix global economic issues.🔸Transparency and operational efficiency are vital for public companies in the crypto space.Timestamps: (00:00) - Intro (01:01) - What was different about @BitcoinConfAsia?(02:29) - What is LQWD?; Evolution of LQWD(07:07) - Transition from a Lightning Network service provider to a BTCTC(10:44) - Is the BTC on Lightning Network or cold storage? (12:42) - What is LQWD’s BTC accumulation strategy? (18:44) - Is the Canadian market BTCTC-friendly? (21:05) - The importance of Sats per Share; LQWD’s BTC Yield (23:39) - Lightning Network 101; AI will use Bitcoin(29:23) - What is Lightning Network Yield?; Competitive edge in Lightning routing(33:31) - Has Lightning Network failed? - Flow vs. Stock(38:19) - Sponsors(41:48) - Is the growth of LQWD sustainable?(44:10) - The future of Layer 2 solutions(46:55) - Bitcoin’s role in global economic stability(52:54) - Why are some companies not rewarded with an mNAV premium?(57:00) - Closing thoughtsIncludes Paid PartnershipsLinks: https://x.com/shoneansteyhttps://x.com/LQWDTechhttps://lqwdtech.com/Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

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• Sell Bitcoin or Borrow Against Bitcoin? with Max K | SLP688

  In this episode, Stephan Livera and Max K discuss the recent Baltic Honey Badger conference, highlighting the shift in focus from institutional adoption to innovative projects like Ark. They explore the workings of Debifi, a Bitcoin-backed lending platform, explaining its marketplace model, loan structures, and interest rates. The discussion revolves around the evolving landscape of Bitcoin lending, focusing on the differences between custodial and non-custodial lending, the future growth of the market, and the implications for borrowers and lenders. Max highlights the trade-offs between security and convenience, the increasing demand for non-custodial solutions, and the potential for lower interest rates as the market matures. The importance of understanding the risks involved in borrowing against Bitcoin and the need for responsible lending practice is emphasized as well. Takeaways🔸The Baltic Honey Badger conference shifted focus from institutional adoption to innovative projects.🔸Ark was a significant revelation, showcasing seamless Lightning payments.🔸Debifi operates as a marketplace connecting institutional lenders with Bitcoin borrowers.🔸The platform uses multi-sig technology for secure Bitcoin-backed loans.🔸Interest rates in Bitcoin lending average around 12%, with potential for lower rates as liquidity increases.🔸Self-custody remains a challenge for many institutional lenders entering the Bitcoin space.🔸Bitcoin-backed lending offers a unique opportunity for portfolio diversification.🔸The market is gradually recognizing the value of Bitcoin as collateral for loans.🔸Debifi aims to simplify the self-custody process for institutional lenders.🔸The future of Bitcoin lending looks promising with increasing institutional interest. Many users prefer non-custodial lending for security reasons.🔸The demand for Bitcoin-backed loans is expected to grow significantly.🔸Borrowing against Bitcoin can help avoid capital gains taxes.🔸Non-custodial lending offers more control over collateral management.🔸Market predictions suggest lower interest rates in the future.🔸The Bitcoin lending market is seen as a perfect storm for growth.🔸Users are willing to pay more for non-custodial services.🔸The importance of understanding LTV and liquidation processes is crucial.🔸Multisig solutions can provide a seamless borrowing experience.🔸The evolution of Bitcoin lending is driven by increasing market awareness. Timestamps:(00:00) - Intro(00:55) - Key highlights of Baltic Honey Badger 2025(04:51) - Ark & Layer 2 solutions; Impact on Bitcoin payments(08:37) - What is Debifi?(11:54) - Minimum loan thresholds and micro loans; Loan terms & duration(14:43) - What are the interest rates?; Current Bitcoin lending market landscape(18:05) - Sponsors(19:52) - What is the value proposition of Bitcoin-backed lending?(28:40) - The mental block for fiat investors; Self-custody of Bitcoin while lending(33:42) - Custodial vs non-custodial models of Bitcoin lending(43:54) - What are the use cases for the borrowers using Debifi?(47:33) - LTVs & Liquidation percentages(50:38) - Risk management with Debifi(56:17) - What is the future of the Bitcoin lending market? Links: https://x.com/keidunm http://x.com/debificom https://x.com/hodlhodl Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

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• The Fight for Financial Privacy in Bitcoin

  In this conversation, Stephan Livera and Calle discuss the critical importance of privacy in financial systems, particularly in the context of Bitcoin and eCash. They explore the evolution of privacy technology, the challenges posed by current financial regulations, and the need for user-friendly privacy-preserving systems. Calle elaborates on the mechanics of eCash and the Cashu protocol, highlighting its potential for enabling microtransactions while maintaining user privacy. The discussion emphasizes the urgency of building a decentralized financial ecosystem that respects individual privacy rights.Takeaways🔸Privacy is essential for modern society and financial interactions.🔸The fight for financial privacy is still in its infancy.🔸Bitcoin serves as the foundational currency for the digital age.🔸Technological advancements are crucial for enhancing privacy.🔸Users should have control over their personal data.🔸The current financial system often requires excessive data sharing.🔸Privacy-preserving systems can be built using modern technology.🔸Cashu offers a protocol for creating interoperable eCash wallets.🔸Microtransactions are vital for a thriving internet economy.🔸The future of financial systems must prioritize user privacy.Timestamps:(00:00) - Intro(01:05) - What is Calle’s view on the current landscape of privacy & financial freedom?(07:42) - What level of privacy is actually realistic?; Holding data ≠ Owning data(15:16) - Building privacy-preserving systems on Bitcoin; Can privacy tech also be easy to use?(21:09) - What is eCash & Cashu?; How does eCash work? (30:15) - Why not just use Lightning?; eCash vs. Lightning Network & Ark(37:43) - Will Lightning be the common language of future monetary transactions?(40:46) - Cashu the protocol and eCash wallets (43:00) - Who will be running the Cashu mints?(43:26) - Sponsors(49:39) - What are Stablenuts?(53:20) - Can Cashu mints be rugged?(55:59) - What’s next for Cashu and eCash?(1:02:12) - Why is privacy necessary?(1:06:35) - Closing thoughts Links: https://x.com/callebtc https://x.com/CashuBTC https://github.com/callebtc https://wallet.cashu.me/welcome Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

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• Simplicity Comes To Liquid with Andrew Poelstra | SLP686

  In this conversation, Andrew Poelstra discusses the recent launch of Simplicity on Liquid, a federated sidechain of Bitcoin. He explains the technical aspects of Liquid, its advantages, and how Simplicity serves as a new scripting language that enhances expressivity and formal verification capabilities. The discussion covers potential use cases for Simplicity, including advanced covenant implementations, ZK verification, and its role in capital markets and asset issuance. The conversation also touches on the implications of stablecoins moving to their own chains and contrasts Liquid with other Layer 2 solutions like Lightning.Takeaways🔸Liquid is a federated sidechain of Bitcoin.🔸Simplicity enhances Bitcoin's scripting capabilities.🔸Formal verification improves security for developers.🔸Simplicity allows for advanced covenant implementations.🔸ZK verification can be done on Liquid.🔸Liquid serves as a technology demo platform.🔸Stablecoins are exploring their own chains.🔸Liquid is not primarily a scaling solution for Bitcoin.🔸Liquid supports multiple asset types.🔸Simplicity can facilitate new financial products.Timestamps:(00:00) - Intro(01:57) - What is Liquid? (04:36) - What is Simplicity?; Enhanced expressivity on Bitcoin(11:48) - Implications of ‘formal verification’ for developers building on Liquid and Bitcoin? (17:00) - What does Simplicity enable people to build?(18:59) - What is a Sighash flag? (26:41) - Sponsors(28:35) - Could Shielded CSV be built using simplicity?(33:32) - Zero Knowledge proofs verification with Simplicity(43:15) - Use cases of Simplicity: Limit orders and Algorithmic trading in DeFi(51:18) - Liquid's role in asset issuance and capital markets(56:55) - Liquid vs. Stablecoins issuing their own Layer 1 chains(1:02:22) - Liquid vs. other Layer 2 solutions(1:07:53) - Closing thoughts; Developer engagement with Simplicity Links: https://simplicity-lang.org/https://blog.blockstream.com/simplicity-launches-on-liquid-mainnet/https://github.com/BlockstreamResearch/SimplicityHL/tree/master/examples https://github.com/BlockstreamResearch/SimplicityHL Sponsors:Bold BitcoinCoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

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