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Does the exclusivity perpetuated by the Bitcoin community stifle widespread adoption? The anarchist rhetoric and extreme focus on security don’t appeal to the general public, yet that is all we see on Reddit and Twitter. What if we focused on marketing Bitcoin in a way that would appeal to the average person? What if we talked about what really gives Bitcoin its value—the fact that you can use it to buy goods and services?   Today, Larry and Kyle discuss how the online attitude of Bitcoin enthusiasts discourages adoption. They address the cryptocurrency’s need for quality marketing, explaining how the community could better promote its use.    The Brainstormers also describe the concern around the new nodes on the Lightning Network and offer insight around how Roger Ver intentionally misleads the public and further discourages widespread adoption of Bitcoin. Listen in to understand the pros and cons of the easiest Bitcoin onramps and learn what you can do to advocate for crypto adoption!   Topics Covered   The concern around new nodes on the Lightning Network Larry’s theory on the signals for steady Bitcoin growth Kyle’s criticism of the Bitcoin cheerleaders on Twitter How the Reddit community discourages Bitcoin newbs Why the value of Bitcoin stems from its ease of exchange Designing a product around the needs of the market Why the community needs to talk about Bitcoin’s survival Bitcoin as a tool to eliminate government OR work with it The beauty of Bitcoin as part of the globalization of ideas How Roger Ver and Bitcoin Cash are misleading the public The value of consensus in ensuring ideas are thought-out How Lightning is working well but has yet to scale The pros and cons of the onramps for new Bitcoin users   Connect with Larry & Kyle   Larry on Twitter Kyle on Twitter Coin Ninja Coin Ninja on Twitter Coin Ninja on Facebook Coin Ninja on Instagram Coin Ninja on YouTube Coin Ninja on Reddit Coin Ninja on Medium   Resources   Lightning Network Wasabi Wallet Jeff Berwick Roger Ver Blockstream Bitrefill LocalBitcoins Coinbase Cash App DropBit

Are you intimidated by Bitcoin because there’s so much to learn? At the end of the day, the one thing you really need to understand in order to use the digital currency is recovery words. Once you have mastered the fundamentals of recovery words and learned how to protect and store them, you can join the revolution and enjoy the unhackable alternative to banking that is Bitcoin.    Today on the podcast, Larry and Kyle compare Bitcoin and banking, conceding that the traditional finance system may be easy to use but arguing that the security associated with crypto far surpasses that of traditional finance. They point out that most of us don’t fully understand how our credit cards work, for example, yet we use them every day—and explain how a basic understanding of private keys and recovery words is all that’s necessary to start using Bitcoin.   The Brainstormers also discuss the idea behind the Lightning Trust Chain and its progress to date, offering insight around how the network was created to facilitate small transactions and why it serves as an elegant way to scale the volume of Bitcoin transactions. Listen in to understand why merchant adoption of Bitcoin is outpacing Apple Pay and learn how crypto is likely to trigger reform in the banking system.   Topics Covered   The ‘ease of use’ comparison between banks and Bitcoin How Bitcoin recovery words work + how to protect them Larry’s idea around creating a distress PIN The egregious lack of security in traditional finance How Lightning Network was created for small transactions The idea behind #LNTrustChain and its progress to date Kyle’s criticism of the idea to decrease the block size Why Bitcoin will be harder to change as it scales The potential to increase block size with computing power The 1-Click Amazon Bitcoin Checkout Chrome extension Why merchant adoption of Bitcoin is outpacing Apple Pay How Bitcoin is likely to trigger reform in banking   Connect with Larry & Kyle   Larry on Twitter Kyle on Twitter Coin Ninja Coin Ninja on Twitter Coin Ninja on Facebook Coin Ninja on Instagram Coin Ninja on YouTube Coin Ninja on Reddit Coin Ninja on Medium   Resources   Reddit Post on JP Morgan Coin Trezor DropBit Andreas Antonopoulos @hodlonaut on Twitter Lightning Network Lightning Network Trust Chain #LNTrustChain Moore’s Law Bitcoin Whitepaper Bitcoin Obituaries 1-Click Amazon Bitcoin Checkout

Brainstorming Bitcoin EP001 Marketing Bitcoin to the Masses   What’s holding back the widespread adoption of Bitcoin? The problem is that there is no problem. Or at least there doesn’t seem to be. The average American trusts the banking system and hasn’t bothered to study the declining value of the USD over time. And no killer new feature will inspire mainstream adoption until the crypto industry educates the general public around the benefits of digital currency. So, how do we market Bitcoin to the masses?   On the inaugural episode of Brainstorming Bitcoin, Larry and Kyle discuss the two key insights that would promote widespread adoption of cryptocurrency: 1) the understanding that we don’t own our money, and 2) the alarming statistics around the inflating US dollar. They explain how the last bull run and subsequent crash led to a lack of public trust in Bitcoin and why the average person may not be ready for the responsibility of controlling their own money.   The Brainstormers also discuss the new Casa Lightning Node, walking us through its features and debating whether it has the capacity to promote mainstream use of crypto. Listen in for insight around the potential for Bitcoin to become a global currency and learn why the decentralized, deflationary nature of Bitcoin is preferable to the USD.   Topics Covered   The fundamentals of the Casa Node + its open-source software Why the Casa Node is unlikely to promote widespread adoption Why crypto should focus on marketing vs. the next big feature The two insights that would prompt widespread Bitcoin adoption We don’t own our money USD inflating every year The responsibility associated with controlling your own money How the minimum wage isn’t keeping up with the cost of living The potential for Bitcoin to become a global currency How the last bull run + crash affected public perception of Bitcoin The trend toward digital and decentralized consumer platforms   Connect with Larry & Kyle   Coin Ninja Coin Agent on Twitter Larry on Twitter Kyle on Twitter   Resources   Casa Lightning Node CPI Inflation Calculator ‘Value of the Dollar Today’ in The Balance ‘The Minimum Wage is Too Damn Low’ in CEPR Inflation-Adjusted Minimum Wage Data from the EPI BlueWallet Gemini Jack Dorsey on Joe Rogan Experience #1236 Lightning Network ‘Crypto Exchange Customers Can’t Access $190M After CEO Dies with Sole Password’ in MarketWatch