PLAN B Lugano Podcast - Day 2 with Jack Mallers & Chris Pavlovski | SLP698

In this episode, Kevin Hurley, CTO and co-founder of Lightspark, discusses the Layer 2 solution called Spark, which aims to enhance Bitcoin's scalability and user experience. He shares insights from his journey transitioning from the Libra project to building on Bitcoin, addressing challenges faced with the Lightning Network, and the unique features of Spark, including its architecture, user experience, and future developments. The conversation also touches on trust, privacy, tokenization, and the importance of community engagement in the Spark ecosystem.Takeaways:🔸Spark aims to provide a scalable and user-friendly Layer 2 solution for Bitcoin.🔸The transition from Libra to Bitcoin was driven by the need for a decentralized settlement layer.🔸Challenges with the Lightning Network include inbound liquidity and complexity for users.🔸Spark simplifies the user experience by abstracting away complexities of the Lightning Network.🔸Unilateral exits in Spark allow users to retrieve funds without operator involvement.🔸The architecture of Spark is designed to support high transaction throughput and scalability.🔸Privacy features are being developed to enhance user confidentiality in Spark transactions.🔸Tokenization on Spark allows for the creation and transfer of assets efficiently.🔸The Spark ecosystem encourages community involvement and developer contributions.🔸Future developments will focus on programmability and advanced financial functionalities.Timestamps:(00:00) - Intro(01:01) - Kevin’s journey from Libra to Bitcoin(04:28) - Why the need for another L2?(07:49) - What is @spark?; How is it beneficial for the end user? (12:09) - Spark's technical framework(20:40) - Cooperative exits vs. Unilateral exits(26:17) - Sponsor(27:10) - Trust & privacy considerations in Spark(29:16) - Enhancing privacy in transactions(34:48) - Developer experience & tooling (36:37) - What is Spark’s token protocol (BTKN)? (39:11) - Stablecoin support on BTKN? (41:13) - Kevin’s views on programmability with Spark(43:35) - How is Spark different from other Layer 2 solutions? (46:06) - What are Universal Money Addresses?; UMA for Cross-border transactions(49:14) - Corporate chains vs. Neutral settlement layers(52:15) - Can an individual spin up their own Spark operator? (53:24) - Could 100 million people be using Spark?(55:00) - How can one contribute to Spark?Links: https://x.com/kphur https://x.com/spark https://x.com/umastandard https://www.spark.money/ https://www.lightspark.com/news/lightspark/lightspark-acquires-striga https://www.lightspark.com/news/lightspark/introducing-lightspark-grid https://x.com/lightspark/status/1981360175861944621 https://bitcoinmagazine.com/technical/spark-and-ark-a-look-at-our-newest-bitcoin-layer-twos Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Matt McClintock delve into the complexities of wealth management in the context of Bitcoin, exploring the concept of the Sovereignty Paradox. They discuss the nuances of sovereignty, the importance of preparing the next generation for wealth, and the role of philanthropy. The conversation also covers tax implications, strategies for managing Bitcoin wealth, and the risks associated with custodianship. Matt emphasizes the need for diversification and the evolving landscape of Bitcoin custody and regulation, while also addressing common pitfalls in wealth management.Takeaways:🔸Sovereignty is a spectrum, not a binary choice.🔸Wealth management requires ongoing attention and strategy.🔸Philanthropy can be a meaningful way to manage excess wealth.🔸Tax implications are significant for high net worth individuals.🔸Diversification is key in managing Bitcoin and other assets.🔸Custodianship carries centralization risks that need to be managed.🔸Investment strategies should align with personal values and goals.🔸Miniscript can enhance Bitcoin management strategies.🔸Engaging the next generation in wealth discussions is crucial.🔸Planning around gift and estate taxes can save significant amounts. Timestamps:(00:00) - Intro(01:35) - What is the sovereignty paradox? (09:00) - What do UHNW Bitcoiners do when their wealth is beyond their level of consumption?(16:36) - Sponsors   (18:11) - Bitcoiner’s perception of money (20:57) - What does NgU do to the mindset of a UHNW client?(24:33) - Strategies for custodying one’s Bitcoin(31:22) - Managing centralization risks  (37:08) - Evaluating Bitcoin exposure through Bitcoin ETFs, BTCTCs, BTC mining stocks etc. (46:04) - How does Miniscript help with Bitcoin inheritance?(46:27) - Tax planning for UHNW Bitcoin investors(57:26) - What are some of the pitfalls to avoid? (1:00:26) - Closing thoughts Links: https://x.com/mcclintock_m https://bespokegroup.io/ https://bespokegroup.io/sovereigntyparadox/ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

On Day 2 of Plan B Lugano, I sat down with Jack Mallers to discuss the rapid growth in the market for bitcoin collateralized loans, and with Chris Pavlovski on freedom technology and the state of free speech in the West with Rumble.Timestamps:(00:00) - Intro(00:49) - Jack Maller’s journey with Strike(02:49) - How does Strike lending work?; Liquidation levels(13:12) - Should people fear borrowing against their Bitcoin?(19:22) - Does Strike rehypothecate user funds?  (26:36) - What’s the latest with Rumble wallet? Chris Pavlovski explains…(30:01) - What is the state of free speech in the west? (34:08) - Leveraging AI and Rumble's partnership with Perplexity; Comet browser(36:53) - Chris’ view on Freedom tech; Rumble Cloud(41:07) - The importance of competition in tech(44:05) - What’s next for Rumble? Links: https://x.com/jackmallers https://x.com/Strike https://x.com/chrispavlovski https://x.com/rumblevideo Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Join me as I interview some of the leading voices that are building on Bitcoin - Philip Walton Bringing affordable energy to Africa, Value transfer over payments & Time2Build by Roy and how Arkade is enhancing Bitcoin’s layer 2 with Tiero.  Timestamps:(00:00) - Intro(2:37) - Philip’s background and the genesis of Gridless(4:20) - Why build Gridless in Africa? (06:09) - Difference between Energy generation & distribution(10:24) - Communities affected by Bitcoin mining(12:45) - Operational challenges for Gridless(17:23) - Costs for operating Bitcoin mining machines(21:23) - Mini grids (23:00) - Regulatory risks (25:07) - Global macro trends that impact Gridless(27:31) - “Payments are a fiat mindset” Roy Sheinfeld(30:40) - Value transfers are permissionless & provide optionality(32:48) - Time2Build by Breez(39:40) - What are the different forms of Nodeless?; Concerns with Spark transactions(48:09) - What are the fees associated with Breez? (51:30) - What is Arkade? Tiero explains…(57:00) - How does batching transactions work?; Unilateral exit costs(1:01:48) - What is Arkade script?(1:10:00) - Use cases of Arkade and Arkade Script(1:21:04) - Future of ArkadeLinks: https://x.com/LuganoPlanB https://x.com/ouagawalton https://x.com/GridlessCompute https://x.com/roy_breez https://x.com/Breez_Techhttps://x.com/tierotiero https://x.com/Arkade_OS  Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Stephan Livera discusses the latest developments in Bitcoin Core with The Charlatan, focusing on the significant updates in version 30, including the removal of the legacy wallet, preparations for the Great Consensus Cleanup, and the introduction of the Bitcoin Kernel project. The conversation also covers the implications of alternative implementations, the ongoing data carrier size controversy, evolving fee rate policies, and improvements in initial block download times. Additionally, they touch on the future of the Bitcoin Core GUI and the importance of competition in the Bitcoin ecosystem.Takeaways:🔸Bitcoin Core version 30 introduces significant updates, including a new mining IPC interface.🔸The legacy wallet is being removed to reduce technical debt and improve code maintenance.🔸Preparations for the Great Consensus Cleanup are underway to address long-standing bugs.🔸The Bitcoin Kernel project aims to separate consensus code for better modularity.🔸Alternative implementations of Bitcoin are encouraged to foster competition and innovation.🔸The data carrier size controversy highlights the balance between spam prevention and network performance.🔸Fee rate policies are evolving in response to market dynamics and miner behavior.🔸Improvements in initial block download times are ongoing, enhancing user experience.🔸Address indexing features are being considered to improve wallet usability.🔸The Bitcoin Core GUI is undergoing updates to better serve user needs.Timestamps:(00:00) - Intro(01:30) - Major updates in Bitcoin Core version 30.0(04:58) - Why is the legacy wallet being removed? (09:07) - The preparation for the Great Consensus Cleanup(13:25) - What is the libbitcoinkernel project? (17:36) - Alternate Bitcoin node implementations(23:46) - Sponsors(25:09) - What is the future of competing Bitcoin clients?(31:56) - Charlatan’s views on controversies surrounding Data carrier size(37:50) - Is Bitcoin Core serving the interests of few? (45:45) - What is the impact of Fee Rate Policies?(53:00) - Dust limits & DOS concerns (54:45) - What are the enhancements for Lightning Network transactions? (57:16) - How bad could mining centralization get if left unchecked?; Libre relay and Transaction filtering(1:03:00) - What are the concerns of illegal content in Bitcoin?(1:05:45) - What is the most underappreciated aspect of Bitcoin development? (1:11:10) - Reducing dependencies in Bitcoin Core(1:14:00) - What are the possible future developments in Bitcoin Core?(1:22:42) - What will be the role of competition in Bitcoin implementations?(1:26:00) - Address indexing & Wallet improvements (1:30:08) - Closing thoughtsLinks: https://x.com/the_charlatan_ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, André Loja discusses the Free Madeira project, which aims to promote Bitcoin adoption through education and community engagement. He highlights the success of merchant adoption on the island, the impact of Bitcoin conferences, and the development of the Basalto Fund, which allows investors to gain residency in Portugal while investing in Bitcoin.The conversation also touches on the future of Madeira as a hub for Bitcoin and related technologies, emphasizing the importance of community and collaboration.Takeaways:🔸Free Madeira is focused on Bitcoin education and adoption.🔸The project has successfully onboarded numerous merchants accepting Bitcoin.🔸Community engagement is key to sustaining Bitcoin adoption.🔸Conferences have significantly raised awareness and interest in Madeira.🔸Sovereign Engineering aims to foster open-source freedom tech projects.🔸The Baselto Fund allows investment in Bitcoin while gaining residency in Portugal.🔸Madeira offers a unique blend of autonomy and EU regulations.🔸Quality of life in Madeira is high, attracting Bitcoiners and expats.🔸The island's infrastructure supports a growing Bitcoin community.🔸Future plans include establishing a physical hub for Bitcoin projects. Timestamps:(00:00) - Intro(01:54) - What is Free Madeira? (08:11) - Has Bitcoin adoption attracted people to visit Madeira? (15:07) - The experience of earning & spending Bitcoin on the island  (17:43) - What is Sovereign Engineering?(24:08) - André’s business ventures in Madeira(27:34) - Sponsors(28:36) - HODL only or Spend & Replace Bitcoin?(35:32) - What is the Basalto Fund?(41:07) - Understanding Portugal’s Golden visa process(46:14) - Basalto Fund - Fees and Performance (51:03) - How autonomous is Madeira?; Services and opportunities(56:58) - Future plans and Community development(1:00:37) - Closing thoughts Links: https://x.com/andreloja https://x.com/andreloja/status/1935061124719706410 https://x.com/FREEMadeiraOrg https://sovereignengineering.io/ https://x.com/BitcoinAtlantis https://x.com/BasaltoFund Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, NVK, CEO of CoinKite, discusses the advancements in Bitcoin self-custody solutions, particularly focusing on the Coldcard wallet and its new spending policies. The conversation explores the challenges businesses face in self-custody, the complexities of accounting for Bitcoin transactions, and the growing trend of Bitcoin treasuries among corporations. NVK emphasizes the importance of self-custody, the future of Bitcoin custody solutions, and the evolving landscape of Bitcoin adoption in the financial markets. The discussion also touches on the ongoing debates within the Bitcoin community regarding the Bitcoin Core development and the implications of debt in treasury companies.Takeaways:🔸Spending policies enhance operational security for Bitcoin transactions.🔸Self-custody is crucial for businesses to manage Bitcoin effectively.🔸Accounting complexities hinder Bitcoin adoption for companies.🔸Bitcoin treasuries are becoming a popular choice for corporate investments.🔸The market for Bitcoin collateralized loans is expected to grow.🔸There is a need for more diverse Bitcoin custody solutions.🔸The Bitcoin community is divided on the future of Bitcoin Core.🔸Debt can be a useful tool for Bitcoin treasury companies.🔸The demand for Bitcoin will continue to drive its value up.🔸The evolution of Bitcoin will impact societal structures and power dynamics.Timestamps:(00:00) - Intro(00:41) - What are Coldcard spending policies? How is it useful?(05:19) - Why do companies not prefer self-custody?(07:58) - Operational difficulties in accounting & taxation of Bitcoin(10:29) - Why do BTCTCs not prefer self-custody?; Role of custodians in Bitcoin treasury management(15:51) - How many BTCTCs will we have by EOY?(17:11) - The Bitcoin Leaderboard ft. @BTCtreasuries(20:46) - ‘Winner takes all’ scenarios for BTCTCs?(22:55) - Sponsors(24:39) - The future of financial engineering in Bitcoin(28:11) - Any demand is good for Bitcoin(29:56) - Is Bitcoin being co-opted?; Bitcoin’s power-shift - Economic & Political influence(35:40) - BTCTCs using ‘cheap fiat’ to stack Bitcoin(39:50) - Mindset shifts among Bitcoin OGs; Does everybody care about Bitcoin price?(44:33) - NVK’s thoughts on Core(46:48) - NVK’s thoughts on Knots(51:09) - Should there be multiple Bitcoin implementations?(54:50) - Closing thoughtsLinks: https://x.com/nvk Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Stephan Livera interviews Prashanth, the CEO and founder of Bringin, a startup focused on providing seamless Bitcoin solutions for users in the Eurozone. Prashanth shares his journey into the Bitcoin space, the pain points he identified regarding Bitcoin liquidity, and how Bringin addresses these challenges through innovative products like virtual IBAN accounts and debit cards. The conversation also touches on user feedback, regulatory impacts, and future developments for Bringin.Takeaways:🔸Prashanth's introduction to Bitcoin began in 2017.🔸The main pain point was the inability to liquidate Bitcoin easily.🔸Bringin offers a virtual IBAN account for seamless transactions.🔸The platform aims to provide a reliable off-ramping solution for Bitcoiners.🔸User experience is optimized for both small and large transactions.🔸The debit card allows users to spend Bitcoin easily.🔸Feedback from users highlights the speed and reliability of the service.🔸Bringin charges a flat fee of 1% for transactions.🔸EU regulations are tightening, impacting compliance for crypto businesses.🔸The Bringin wallet integrates self-custody with easy off-ramping capabilities.Timestamps:(00:00) - Intro(00:52) - When did Prashanth discover Bitcoin?(02:21) - What is Bringin trying to solve?(06:47) - What does Bringin offer and who does it cater to? (10:03) - Building the bridge between self-custody Bitcoin and TradFi Banks; Virtual IBANs (13:26) - How does the Bringin Debit card work?(15:37) - What has been the user feedback?; Fees & Costs for off ramps(18:25) - How are EU regulations impacting Bringin?(20:13) - Sponsors(24:10) - Bringin’s self-custodial Bitcoin wallet(30:18) - Future plans for Bringin  (32:39) - Closing thoughtsLinks: https://x.com/prashanthc123 https://x.com/bringinxyzhttps://bitcoinmagazine.com/news/europeans-can-now-live-on-the-bitcoin-standard-with-bringin  Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera discusses the RGB protocol with Anant and Federico, exploring its significance in the Bitcoin ecosystem. They explore how RGB enables smart contracts on Bitcoin, the role of stablecoins, user experience, and the efficiency of transactions. The discussion also covers the process of creating and managing assets on RGB, comparisons with other Bitcoin protocols, and the future of the RGB ecosystem. The importance of user adoption and the potential for real-world asset integration, while addressing risks associated with asset issuers is also discussed. Takeaways:🔸RGB allows for smart contracts on Bitcoin without side chains.🔸Stablecoins like USDT are crucial for Bitcoin's ecosystem.🔸User experience is key for adoption of RGB assets.🔸RGB transactions are efficient and scalable compared to other protocols.🔸Creating assets on RGB is a straightforward process.🔸RGB offers a peer-to-peer solution without trust trade-offs.🔸The RGB ecosystem includes various wallets and applications.🔸RGB is more efficient than Liquid and Taproot assets.🔸User adoption will depend on the value provided by RGB solutions.🔸The future of RGB looks promising with potential for real-world asset integration.Timestamps:(00:00) - Intro(00:55) - What is RGB?; RGB's functionality and updates(04:25) - Why do we need non-bitcoin assets?(07:45) - What does RGB look like for the end user?; UX of using RGB Tether (09:50) - RGB Lightning(12:09) - What is it like building an RGB wallet?(16:54) - How does one create and transfer an RGB asset?(19:36) - Efficiency of RGB compared to other protocols(23:04) - Is RGB only for stablecoins?; Scope of having Real World Assets on RGB(27:39) - Overview of the RGB ecosystem (29:48) - RGB vs. other Bitcoin solutions (Taproot assets, Liquid, Spark etc.)(34:25) - Sponsors(35:23) - Will there be RGB payment processors in the future?(41:15) - How does RGB compare with altcoins (other Layer 1s)?(43:06) - Risks and Trust in asset issuance(48:24) - Why should users care?; Market fit and adoption(52:40) - Closing thoughts  Links: https://x.com/anant_tap https://x.com/FedericoTenga https://rgb.info/ https://x.com/RGB_Hub https://x.com/bitcointribe_ https://x.com/BitcoinTribe_/status/1975061808584302987 Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Jesse Myers discuss the current state and future of Bitcoin treasury companies, focusing on Smarter Web Company's strategies and performance. They explore the implications of PIPE deals, the importance of a solid track record in delivering Bitcoin yield, and the regulatory environment's impact on investment strategies. The discussion highlights successful examples like Metaplanet and the potential for Bitcoin treasury companies to accumulate a significant portion of Bitcoin in the coming years. They also address the challenges investors face, including understanding mNAV and justifying premiums in Bitcoin investments. Jesse also introduces the P-Bid ratio as a new metric for evaluating these companies, emphasizing the need for a strong retail investor base and the significance of operational businesses in sustaining value. The discussion concludes with reflections on the future of Bitcoin treasury companies and their role in the broader financial landscape.Takeaways:🔸Smarter Web Company has over 2500 Bitcoin and a mNAV of about 1.6.🔸The current Bitcoin yield for Smarter Web Company is 278%, significantly higher than market expectations.🔸Many Bitcoin treasury companies have struggled to deliver consistent Bitcoin yield.🔸PIPE deals can create headwinds for Bitcoin treasury companies due to misaligned investor interests.🔸Successful Bitcoin treasury companies have a track record of delivering Bitcoin yield over time.🔸Metaplanet is highlighted as a successful example of a Bitcoin treasury company.🔸The regulatory environment in different countries affects the success of Bitcoin treasury companies.🔸There is potential for Bitcoin treasury companies to accumulate a significant portion of Bitcoin in the future.🔸Public companies have more capital market tools available than individual investors.🔸Understanding mNAV is crucial for valuing Bitcoin treasury companies.🔸Bitcoin yield is a key factor in assessing company performance.🔸The P-Bid ratio helps unify mNAV and Bitcoin yield metrics.🔸Retail investors play a vital role in the success of treasury companies.🔸Many Bitcoin treasury companies struggle to deliver consistent yield.🔸M&A activity is expected as companies trade below 1X mNAV.🔸The fundamentals of Bitcoin treasury companies are real and promising.🔸There is a significant opportunity for growth in this sector.🔸The Bitcoin treasury industry is in its early stages of development.🔸Investors should focus on well-run companies to maximize gains.Timestamps:(00:00) - Intro(01:05) - What’s new at @smarterwebuk?(03:07) - Evaluating the recent Bitcoin Treasury lull  (05:03) - Jesse's issues with PIPEs for Bitcoin TCs(10:45) - What counts as a successful Bitcoin TC?(15:36) - Regulatory environment supporting the rise of Bitcoin TCs(19:19) - How real is the Bitcoin Treasury fad?; Building Capital markets on Bitcoin(26:53) - Sponsors(29:03) - Why choose BTCTC over spot Bitcoin?(34:42) - BTC-denominated convertible notes(41:10) - What justifies the mNAV premium of BTCTCs?; mNAV & BTC Yield (46:36) - The P-BYD ratio is the P/E ratio for Bitcoin treasury companies(52:10) - What are the challenges in delivering a high Bitcoin yield?(56:48) - The role of retail investors in Bitcoin TCs(1:00:02) - Is M&A the way forward for Bitcoin TCs with mNAV below 1? (1:09:12) - How will TCs mature over time?Links: https://x.com/Croesus_BTC https://x.com/smarterwebuk https://x.com/Croesus_BTC/status/1945572138880041226 SWC analytics dashboard: https://investors.smarterwebcompany.co.uk/analytics/ Sponsor:CoinKite.com (code LIVERA)Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack