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I'm a Bitcoin educator, developer and entrepreneur. I'm a Korean immigrant, a Christian, a father and lots of other things. Ask me whatever you want.
what would you change about ausitn bitdevs?
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Bigger space, more meat and I'd make sure that guy with glasses gets more groupies.
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What's the most surprising thing you've learned with regard to teaching people about Bitcoin?
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That the material is already out there, but what my students find valuable is my explaining it. That is, I find it surprising that people find what I can do valuable enough to pay me.
It's the wonderfulness of capitalism, in a nutshell.
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If you could change one thing about Bitcoin, small or large what would it be?
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Probably the scripting system. The stack-based language is not easy to reason about, though in some ways it has a particular form of elegance.
Something like Simplicity from the beginning would have been nice.
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Favorite Korean dish? Favorite Korean restuarant in Austin?
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galbi, preferably without the sugar.
There's a really good Korean BBQ restaurant that just opened: https://www.kbbqaustin.com/
Charm is pretty good, too, though further away.
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Hi Jimmy, your ideas on the morality of Bitcoin have been really eye-opening for me. That said, they say that money is the root of all evil. Is Bitcoin any different in that regard?
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It's the love of money that is the root of all kinds of evil. I've argued in the past that fiat money causes us to love it through a form of monetary Stockholm syndrome. We have to pay close attention to it because it's being stolen away from us all the time through inflation.
Bitcoin actually frees us from being held hostage and we're free to pay attention to other things. That's not to say that it's impossible to love money, it's just not a trap that's as easy to fall into. In that sense, I think Bitcoin is much better for humanity.
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I would like to make a mobile wallet and proficient in JavaScript/React/React Native. Any suggestions on how to get started? Thanks
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I think the main Javascript Bitcoin libraries is this one:
If you're interested in learning, this looks promising:
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Hi Jimmy, are there any Lightning Network services or businesses you've seen use Lightning in a way that made you think, "Wow, this is truly the future"?
As a christian & bitcoiner what does church look like for you in this time where most Christians follow the MSN of covid? Are there ideas in the bible you view as inconsequential or culturally irrelevant for our time? When you read the bible do you view it as inherent & infallible?
Do you have a favorite sat symbol?
As a Christian I am hopeful that innovation in financial software systems can help us move towards a society that is both more equitable and less obsessed with money. Is this a non-sequitur or do you think there could possibly be enough people with a similar goal working in fintech to move the needle?
No question, I just want to say thank you.
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Hello Jimmy Song. When was your first BTC tx?
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Very first one was a faucet transaction in 2011. IIRC, I got 0.05 BTC, but I put it into a web-wallet and that service disappeared soon after. Crazy to think that it's so much money now.
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Congrats to 10y Bitcoin!
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What's your official end of year price prediction?
Thanks for doing this, was a big fan when I used to frequent clubhouse months back.
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$123,456
I miss clubhouse.
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Do you mine? If not, why not?
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I did, maybe 7 years ago, for a few months. Unfortunately, the room I had it in got really hot and my wife didn't like the noise it made, so I sold it. IIRC, I mined like 1.5 BTC before giving up.
The reason I don't anymore is because it's too much maintenance. It's one of those investments that's also buying yourself a job. Not a big fan of buying myself new jobs.
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What do you think is the major threat scenarios to Bitcoin existence? And what score of possibility you give to each of these.
a. Some rogue code slipped into Core or LN protocol, that could create a chain-reaction, that could make almost impossible to use BTC.
b. banks/govs will fool (again) normies/nocoiners into taking the custody of their BTC and start mass-control of BTC transactions, heavy KYC and strict usage.
c. In some way all govs decide to shut down mining all over the world (they can find any stupid reason so people can be fooled again).
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a) The chain reaction part seems particularly difficult. I hesitate to give it any percentage, but I'd think less than 5% b) This is arguably the case already. Many people keep their coins on Coinbase, for example. I'd say there will always be such people who are willing to trust a central authority, at least until they get screwed. c) This isn't possible.
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Thanks. So we need to push more and educate newbies with focus on self-custody. I do my best.
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I would love to do your 2 day course via an online platform like what wesbos or kcd have for React JS, is this on your roadmap? I have already bought the Programming Bitcoin book but would love to have the same on a video course. [would love to attend in person but can't due to family situation]
Thanks for your work! Love everything you do! 🔥
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I offer my courses live over zoom whenever I do the courses in person. I've experimented with making the content available over video, but I'm just not happy with the results. I won't count it out, but it's not on my roadmap, either.
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How much ethereum do you have? or other coins? thanks
What is your favorite hardware wallet?
Is "Thank God for Bitcoin" a good first book for a Christian family who don't know anything about Bitcoin?
After finishing your book, what's a good github repo to play around with, e.g. in conjunction with a full node?
what can Bitcoin do to fight the crazyness of covid passports?
Next innovation to bitcoin core after taproot ?
What are good cloud mining companies to invest in? Have you heard of https://www.vbitmining.com/
Most exciting core improvements after taproot and why they're exciting?
Do you think centralized blockchains - open code, open APIs, open state which you can run yourself - could eventually provide any value over an API provided at a traditional company?
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I'm not sure they're different things. A blockchain is really a database and a centralized blockchain is a centralized database under one company's control.
Transparency has a lot of value, particularly for customers, especially for assuring them that the company is not cheating.
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Fuck yeah!
Tell me how much you despise CSW
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It wouldn't be very Christian of me to hate the guy. There's no doubt the guy has caused a significant amount of destruction with his con, though.
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You've been podcasting and writing about VC quite a bit lately which I've been appreciating greatly. Did anything prompt that?
(I might also just be suffering from the frequency illusion given that I'm trying to raise money for SN.)
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I'm a startup guy, just like you, so I've been around the block a few times when it comes to VCs. I'm now fully convinced they've taken the function that banks used to have, just with a more money-printing, fiat-centered model.
I wasn't always this down on VCs, but the more I examine the current monetary system, the more it's clear they are the essential gatekeepers. Very few players make it without VC money.
Anyway, I know you didn't ask, but if you can, keep the equity yourself, do what gets you profit and don't rely on VC money. They'll make you grow too fast and work too hard. You really don't want to be enslaved to them if don't have to be.
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Thanks Jimmy. I really respect your POV.
I'm hoping to find the right VC's assuming I can identify them. I'm also considering open source grants or some kind of community seed raise where users get real equity or a bitcoin denominated dividend (KYC-free).
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Honestly, if you can find something people will pay for, you can skip the VCs. Maybe it's a recurring lightning-based patreon or turning this into a question/answer service. Whatever the case, I think your time is better spent making cool stuff people will use instead of decks that will get 15 minutes of viewing time.
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Along those lines, many Bit Devs ago when Sphinx Chat was first announced, you mentioned you were waiting for some kind of Q&A system. Can you provide detail on that? It's something I have planned but I imagine you have something specific in mind.
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I don't remember, but I can see questions being answered for money being useful. As in, you pay and then you get to see the answer, that sort of thing. There are Lightning bots on Telegram that already do this sort of thing.
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How and why did you get your start in Bitcoin?
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I started contributing to open source projects that were Bitcoin related and kept going.
Honestly, this world opened up for me because I know how to code. I can't emphasize how much of a superpower this is.
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I can't agree more. I enjoy coding so much I have a hard time enjoying anything else by comparison.
How long did it take you to appreciate the importance of Bitcoin and its monetary policy? It sounds like it was at least initially technically interesting to you but with most of us the significance takes a lot longer.
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I got the scarcity part immediately. As soon as I heard about the 21 million limit, I wanted some.
The deeper monetary stuff, I don't think I really got until I was reviewing Saifedean's book. I read his first draft and I knew then that this was the real reason for my desiring scarce assets.
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anyone know if bluewallet will support taproot.