SLP33 Kara Haas – Bitcoin & Crypto Audit and Accounting

Kara Haas, CPA joins me to discuss Bitcoin auditing and accounting. Especially in relation to Tether, there are many people confused about what an audit is, versus an attestation. And also, some confusion on the correct accounting treatment for Bitcoin. As an accountant and auditor in the field, Kara is able to shed some light on this.

  • Accounting treatment for Bitcoin as an intangible, not at fair market value
  • Tether – Financial Statement Audit vs Attestation vs Consulting
  • Blockchain timestamping
  • AML

Kara Haas links:

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SLP32 Rigel (CoinsureNZ), Relaying Bitcoin transactions with TxTenna for censorship resistance

Rigel Walshe (aka CoinsureNZ) joins me to talk about his recent viral adventures in sending Bitcoin transactions without internet on the device itself. His recent stories lit up social media and showed real world usage of TxTenna, a collaboration between GoTenna (mesh networking) and Samourai Wallet (Bitcoin wallet project focused on privacy).

Topics:

  • Overview on TxTenna (Collaboration of GoTenna & Samourai Wallet)
  • Process of setting up the experiments
  • What kind of range and limitations the products have
  • Why do this?
  • What experiments are coming next?
  • Advice for listeners who want to do their own experiments in censorship resistance

Links:

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SLP31 Bitcoin & Crypto eating the world, with Patri Friedman

Patri Friedman, MD of Zarko Investment Group and a leader in the seasteading movement joins me to talk about how Bitcoin & Crypto will enable greatly freer markets around the world. We talk about Bitcoin maximalism, Crypto parallels with the dotcom bubble, jurisdictional competition, seasteading and start up cities, law as technology, and more. We also discuss David Friedman’s thoughts on Bitcoin & Crypto, and what Patri’s late grandfather, Milton Friedman, would have thought on Bitcoin.

Links:

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SLP30 Bitcoin-backed loans and financial services, with Zac Prince of BlockFi

Zac Prince, Founder and CEO of BlockFi joins me in this episode to talk about the incredible benefits of Bitcoin as collateral for USD loans. We talk about the ‘double whammy’ of how it can be used to minimise capital gains taxes, and get an interest deduction on the use of funds. Bitcoin also makes it easier to provide global debt financing in countries where it has traditionally been difficult to operate USD lending. Zac also mentions the possibility of bitcoin financing someday being cheaper than standard USD financing.

We talk:

  • What BlockFi do
  • Bitcoin backed loans
  • How Bitcoin enables lending into countries that traditionally were not feasible to lend USD into, or enables it at cheaper interest rates
  • Process of undertaking a bitcoin/crypto backed loan
  • Loan to Valuation requirements and how margin calls work
  • Interest rates on Bitcoin loans
  • How bitcoin-backed loans could (under certain conditions) be cheaper than standard loans
  • How the bitcoin and crypto financial services market may evolve over time
  • Coming products and ideas for products with BlockFi

Links:

Article discussed in outro:

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SLP29 – Samourai Wallet, Bitcoin privacy software that Silicon Valley would never build

One of the pseudonymous founders of Samourai Wallet joins me in this exciting episode to talk about Bitcoin privacy techniques that are applied within the wallet and upcoming improvements to their Bitcoin wallet app. Anyone interested to learn more about how Samourai Wallet helps protect privacy will truly enjoy this episode.

We discuss:

  • The mission statement of Samourai Wallet
  • Taking a hardline stance on privacy and removing fiat references from the wallet
  • How Samourai Wallet helps to maintain privacy by default
  • PayNyms
  • Coin Selection and Coin Control in the wallet
  • Stonewall – transactions that look like a CoinJoin
  • Boltzmann – analyzing transactions to identify how private they are
  • Ricochet – premium feature adding 4 intermediate hops, protecting users from blockchain spies
  • Whirlpool & Stowaway – a coming enhancement intended for ‘post-mix’ transactions
  • Trusted Node – and the newly announced feature, ‘Dojo’ trusted node
  • MuleTools and the GoTenna collaboration – TxTenna
  • How users can support Samourai Wallet

Links:

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SLP28 – Cyphernode Bitcoin API, with Francis Pouliot and Etienne Larrivee of Satoshi Portal

Francis Pouliot and Etienne Larrivee (CEO Satoshi Portal and Lead Developer Cyphernode), join me to talk about their newly released open source Bitcoin self-hosted API allowing you to more easily build Bitcoin services and applications. This enables businesses and users to reduce their reliance on commercial Bitcoin APIs, while still offering advanced features and utilities.

We talk:

  • What is Cyphernode?
  • Who is it for?
  • Current reliance within the Bitcoin ecosystem on currently existing APIs, and what risks this presents
  • Process of setting up a Cyphernode
  • Some example functions (watching/generating addresses etc)
  • Features to come in Cyphernode

Links:

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SLP27 – Turning Stranded Natural Gas Into Bitcoin Mining Hashes, with Steve Barbour of Upstream Data

Steve Barbour (Founder, Upstream Data) joins me to discuss how he is turning stranded natural gas into Bitcoin mining hashes. His HashGen product uses low value natural gas to improve the economics for Canadian Oil and Gas facilities, while powering Bitcoin mining ASICs. In this discussion we also talk about the ‘bitcoin energy use is wasted’ narrative, and how bitcoin mining was centralised in the past, but is now decentralising.

Links:

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SLP26 – Building Bitcoin services to last, with Jeremy Welch of Casa

Jeremy Welch (Founder of Casa) joins me in this episode to talk about crafting a business around the concept of safely storing bitcoin. We talk about the ethos of Casa, designing services for a sovereign individual, securing top tier talent, and Casa products.

Topics include:

  • Company Mission of Casa
  • Product type and ‘Built to Last’
  • Hiring talent in Bitcoin
  • Funding
  • Customer types
  • Product discussion (Casa Premium, and Casa Node)
  • Roadmap
  • Regulation
  • Altcoins

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SLP25 – Taking Bitcoin Lightning Payment, and ‘earner adoption’, with Sergej Kotliar, CEO of Bitrefill

Sergej Kotliar, CEO of Bitrefill joins me to discuss taking bitcoin and lightning payments as an online merchant. We talked about the challenges and benefits of doing this, particularly in how lightning network simplifies the user experience and reduces errors. In the second part of the episode, we talk about ‘earner adoption’ – the idea that bitcoin’s ecosystem can grow from people earning it.

Sergej Kotliar links:

Podcast links:

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