Rabbit Hole Recap: Week of 2020.11.09
11/12/2020 · 120 min · transcript via mlx
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Key topics
— Adam Curry announces Podcast 2.0 spec with Lightning Network integration via Sphinx app, enabling value-for-value monetization and direct creator payments without gatekeepers.
— Ledger phishing emails persist after July 2020 data breach; users advised never to input seeds into computers and always restore directly to hardware wallets.
— Bitcoin price crossed $16,000 this week with low fanfare; difficulty adjustment estimated at 5.6% increase for November 16th.
— Wasabi 2.0's new WabaSabi protocol promises CoinJoin transactions without equal outputs, but lacks live implementation and draws skepticism on complexity.
— BlockSeer mining pool launches with OFAC compliance and KYC requirements; unlikely to gain traction due to lower profitability versus non-compliant pools.
— Nigerian government blocking protest bank accounts; citizens increasingly turning to Bitcoin as financial censorship resistance.
Market & price signals
— Bitcoin price reached $16,024 at recording, offering 6,241 sats per dollar and 8.5 ounces of gold per BTC. Mempool cleared to one sat-per-byte fees this week. High priority transactions estimated at 115 sats/byte (~$2.54); standard priority at 86 sats/byte (~$1.90); low priority at 56 sats/byte (~$1.24). Difficulty adjustment of 5.6% estimated for November 16th. Bitcoin market cap versus gold at 2.44%. Price movement described as "quietly bullish" with minimal mainstream media coverage.
Actionable insights
— Use Sphinx or Podcast 2.0 platforms now while early; joining tribes offers early access to content and direct creator tipping without traditional intermediaries.
— Never download wallet software from email links or input seed phrases into computers; restore hardware wallets on-device only, and consider remailer services or PO boxes for hardware purchases to minimize KYC data exposure.
— Avoid mining pools implementing OFAC compliance—non-compliant pools remain more profitable; consider private mining via VPNs, cell connections, or alternative hardware setups to preserve Bitcoin's permissionless nature.
Episode sponsorships
Paid placements mentioned in this episode. BTC Pods is not sponsored by or affiliated with these advertisers. Links are included so you can find offers mentioned on the show.
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