Porkopolis Economics

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirty-fifth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 02:00 Terminology: Block reward and issuance 07:08 Note: Gross not net! This is revenue before expenses 08:13 Nature of this chart: Trailing 12-month run rate 17:03 Block reward and issuance in USD terms 24:40 Power regression on USD issuance rate (93% R-squared) 30:27 1-sigma percentile bands 32:30 2-sigma percentile bands Dissecting the total issuance (block reward) paid to miners on the Bitcoin network over a rolling 365-day basis. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirty-fourth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:45 TTM fees in BTC terms 10:30 TTM fees in USD terms 17:00 Power regression on USD TTM fees (90% R-squared) 23:00 1-sigma percentile bands 24:11 2-sigma percentile bands Dissecting the total fees paid to miners on the Bitcoin network over a rolling 365-day basis. Apologies for the audio this video... had to use backup mic!! https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the one hundred forty-sixth podcast episode from Crypto Voices. Show support appreciated: donations.cryptovoices.com Matthew and Alec review the Western stance toward Ukraine one year after Russia's invasion, the total US money supply, and phone number privacy. Contents 00:00 Intro-UFOs 05:25 Ukraine 38:18 Total money supply USA 01:03:50 Privacy update Links for more info: https://chalice-perky470.medium.com/its-not-me-it-s-you-4348abbbcd10 Contact Alec at HALO for help: chalice.perky470@anonaddy.me Show Sponsor: hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Michel, Alec Harris Music: New Friend Music newfriendmusic.com/ Podcast & videos Bitcoin, privacy, cryptoeconomics & liberty Thanks for watching! https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirty-third installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:47 M0 02:48 M1 non-M0 03:33 M2 non-M1 03:44 M3 non-M2 07:37 Assets vs. Liabilities of CCs 11:40 Batching 13:18 CC purchase volume in 2022 = $9.56 trillion 14:40 Revolving credit USA 17:08 Credit card debt vs. Demand deposits 24:00 HALO Privacy Bonus video on the US money supply! Which "M curve" do credit card purchases and debt fit into? The answer is... none! Credit cards are an entirely different type of economic activity than bank money, and state money, which we studied in the previous twelve videos in our money supply series. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirty-second installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:33 Bank reserves 02:35 Fed repos 03:55 Vault cash 05:55 M0 08:30 M1 non-M2 (Demand deposits) 10:20 M2 non-M1 11:55 M3 non-M2 14:50 State money % of Total money 15:05 Total money supply 22:40 Hybrid market vs. Free market 30:10 How does Bitcoin fit in with all of this?? 34:02 How big could Eurodollars be in M3? Here is our final video in this money supply intro series and look into the nature of the United States dollar. We are putting together central bank money, or base money - also known as state money - with all of the bank and shadow bank money supplies in the US (M1, M2, M3, or inside money). Can we learn anything about where Bitcoin might economically compare and fit in with these money supplies? https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirty-first installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 03:10 Monetary base 07:50 Gold on Fed's balance sheet (Market value) 16:30 Gold on Fed's balance sheet (Native ounces) 24:20 Gold 'reserved' at market price 33:36 Gold 'reserved' at statutory price 37:13 Central banking, free banking, gold, no gold Here is our second video covering outside money in the United States, also known as central bank money, or reserve money, or base money, or the monetary base. In this one we are comparing base money (a liability for the Fed), with it's historical gold reserves (an asset for the Fed). How important is the idea of a gold 'reserve?' https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the thirtieth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 02:05 Inside versus Outside money 07:50 M0 is a part of both Inside and Outside money 09:20 Be cautious: M0 as defined by different central banks! 10:30 Vault cash 11:28 Bank reserves 17:30 Physical cash % of Base money 22:55 Monetary base (as officially defined) 23:30 Fed repos (Shadow bank reverse repos) 31:00 Gold vs. Fiat base money vs. Bitcoin Here is our first video covering outside money in the United States, also known as central bank money, or reserve money, or base money, or the monetary base. M0 is included in base money, as well as the M1 money supply (which we have already covered)! Now that we have covered the inside money (fiduciary media) in the United States, we can deeper look into central bank money, or base money, and how this type of money is the core of the financial and monetary system. It economically compares with gold, silver, and bitcoin. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-ninth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:13 M0 03:04 M1 04:50 M2 06:40 M3 (Fed discontinued) 09:30 M3 19:03 M0 % of M3 21:52 M1% of M3 25:40 M2% of M3 30:27 Next up is base money Here we have concluded the entire breakdown (and reconstruction) of the entire United States *public-facing* money supply, from M0, to M1, to M2, and now M3. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-eighth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:58 Money supply "stack" 02:38 What is a Eurodollar? 05:50 How did the Federal Reserve count Eurodollars? 08:35 Eurodollars (Fed discontinued) 10:56 Eurodollars (Porkopolis) 20:30 Argentina's stack of Eurodollars 24:30 Measuring Eurodollars: Much work to do! 26:10 Stablecoins 29:03 M3 non-M2 Total Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering Eurodollars. This is the last video looking at the non-M2 portion of M3 money. It is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-seventh installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:48 Money supply "stack" 02:47 Federal Reserve presser on M3 discontinuation 05:05 Repo market summary 05:28 Why repos: #1 Shadow banking 08:57 Why repos: #2 Liquidity 10:41 Why repos: #3 Leverage 12:30 M3 non-M2 Total (Fed discontinued) 12:39 Large time deposits & Institutional money market funds 13:40 Repos (Banks) 16:30 Repos (Shadow banks) 19:25 Former Fed economist explains repos and M3 24:10 Repos (Fed) 28:58 Fed knows it's a monopoly actor 31:45 Adding up all M3 money supplies found so far Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering repurchase agreements. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-sixth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:42 Money supply "stack" 06:37 Institutional time deposits 08:40 M3 non-M2 Total (Fed discontinued) 12:45 Institutional money market funds 16:45 Large time deposits % of M3 non-M2 Total Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-fifth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:30 Money supply "stack" 02:50 M0 03:37 M1 05:30 M2 09:24 M0 % of M2 11:00 Remember, fiduciary media 14:15 M1 % of M2 Here we look at the next level up for the United States money supply: the M2 money stock. In this video we are summing up all the components of the M2 money supply. (including M1). https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-fourth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:30 Money supply "stack" 02:25 Savings deposits 09:00 M2 non-M1 Total 11:10 Retail money market funds 15:50 Small time deposits 20:10 Savings deposits % of M2 non-M1 Total Here we look at the next level up for the United States money supply: the M2 money stock. Note that M1 is included in the M2 money supply; however, in this video we cover only the non-M1 monetary components. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the one hundred forty-fifth podcast episode from Crypto Voices. Show support appreciated: donations.cryptovoices.com Matthew and Alec interview Thomas Pacchia, founder and CIO of HODL Capital, and co-owner of the new bar with a Bitcoin flare in Manhattan, PubKey. Thomas talks about what it's like owning a bar, with a family, and working to bring the people back out and Bitcoin to the masses in NYC. He also tells some excellent stories about his long career in Bitcoin. We finish reviewing the state of the market today and what to expect moving into the halving. Links for more info: https://twitter.com/tpacchia https://twitter.com/PubKey_NYC https://pubkey.bar/ Show Sponsor: hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Michel, Alec Harris Music: New Friend Music newfriendmusic.com/ Podcast & videos Bitcoin, privacy, cryptoeconomics & liberty Thanks for watching! https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-third installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:22 Money supply "stack" 03:30 M1 - Porkopolis reconstructed 05:30 M1 - Fed Fed discontinued 08:50 M0 - Cash outside bank vaults 09:10 Sight (demand) deposits 10:45 M0 Money vs. M1 Money 13:30 Do bitcoins fit in here? Only a little... 18:30 Remember, M0 is not the Monetary Base 19:54 Are demand deposits problematic? Here we look at the classic "narrow money" supply: the M1 money stock, in the United States. We also compare the two components of M1 (M0 and demand deposits) and see what that tells us about the economy and monetary usage. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-second installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:26 Vault cash 08:27 Sight (demand) deposits - Fed discontinued 15:25 Components of deposits in USA 17:15 Adjusting for CIPC 19:17 Sight (demand) deposits - Porkopolis reconstructed 24:05 Vault cash vs. Sight (demand) deposits 31:13 Not the first time we've seen this low ratio 32:55 What then for a bitcoin standard? Here we look at the total supply of vault cash (physical currency inside bank vaults) versus the total outstanding balances of sight, or demand, deposits in the United States. There are some unfortunate discontinued publications we need to review here by the Federal Reserve, as well as reconstruct our own comparisons. The demand deposit supply is also a component of the second, basic level of the various "M supplies;" that is, a part of M1 Money. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twenty-first installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:20 Dollar briefly 01:40 History of "Money Supply" curves 02:50 Total physical currency supply 05:35 Physical currency supply outside bank vaults (M0) 06:50 Physical currency % M0 vs. Total 10:40 Be careful of M0 Money vs. Monetary Base! 12:45 More to come and summary Here we look at the total physical currency supply of the United States dollar, and compare how much is outside of banks (M0) versus how much is inside banks (vault cash). This is also the first level, basic money supply that makes up the various "M supplies;" that is, M0 through M4, etc. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the twentieth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:20 Switzerland and CHF briefly 01:10 Dollar best-looking horse in glue factory? 05:55 Switzerland no longer requiring gold holdings 08:38 Linear regression line (70% R-squared) 10:35 1-sigma move 10:50 2-sigma move 12:47 Final thoughts on gold Here we run and explain a linear trendline over the last 60 years of Dollar-Swissy exchange rate data. Coefficients: y = a + b * x y = y-intercept + slope * x y = 2.55 - 0.32% * x https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the nineteenth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:20 Gold market cap 04:18 Silver market cap 09:03 Bitcoin market cap 09:47 Silver vs. Bitcoin 13:39 Gold exponential trendline (86% R-squared) 14:46 Silver exponential trendline (66% R-squared) 17:10 Bitcoin power trendline (96% R-squared) 20:48 Predictive trendlines 24:00 Log scale Here we compare the market capitalizations of gold, silver, and bitcoin, while running and predicting their exponential (for gold and silver) as well as power (for bitcoin) regression trendlines. Gold coefficients: y = a * EXP (b * x) y = y-intercept * EXP (slope * x) y = 3.32E+11 * EXP (0.56% * x) Silver coefficients: y = a * EXP (b * x) y = y-intercept * EXP (slope * x) y = 9.15E+10 * EXP (0.40% * x) Bitcoin coefficients: y = a * x ^ b y = y-intercept * x ^ slope y = 3.97E-13 * x ^ 658% https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the one hundred forty-fourth podcast episode from Crypto Voices. Show support appreciated: donations.cryptovoices.com Matthew and Alec review the US federal debt (and the limit) throughout the last 120 years. Contents 00:00 Intro 02:00 US national debt history 56:50 Privacy update Links for more info: https://fsapps.fiscal.treasury.gov/dts/files/23020100.pdf Show Sponsor: hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Michel, Alec Harris Music: New Friend Music newfriendmusic.com/ Podcast & videos Bitcoin, privacy, cryptoeconomics & liberty Thanks for watching! https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the eighteenth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 02:13 Current, all-time power trendline (95% R-squared) 06:50 Power trendline through 2010 12:50 Power trendline through 2013 18:35 Power trendline through 2016 26:40 Power trendline through 2019 29:10 Overall trendline price evolution Here we run and explain a power trendline over the last 13+ years of bitcoin price data, and compare this all-time trend with those trendlines drawn from 2010 data, data up to 2013, up to 2016, and up to 2019. Coefficients: y = a * x ^ b y = y-intercept * x ^ slope y = 6.13E-18 * x ^ 590% https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the seventeenth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:21 Centralized exchange problems in BTC history 05:20 Power regression trendline (95% R-squared) 07:07 1-sigma bands 07:50 2-sigma bands 08:27 Predictive trend 10:05 Log scale 11:06 Log-log scale 13:50 Finance is not a bell curve 20:27 Power trend summary Here we run and explain a power trendline over the last 13+ years of bitcoin price data, as well as 1-sigma and 2-sigma percentile bands around the trendline. Coefficients: y = a * x ^ b y = y-intercept * x ^ slope y = 6.12E-18 * x ^ 590% https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the one hundred forty-third podcast episode from Crypto Voices. Show support appreciated: donations.cryptovoices.com Matthew interviews Mark Yusko from Morgan Creek Capital and Morgan Creek Digital. Superb episode, topic-packed with Mark's stories and thoughts on FTX, SBF, Bernie Madoff, Kevin O'Leary, Sequoia Capital, Jamie Dimon, Davos, the Winkelvosses, and Peter Thiel. Mark shares his investment thesis and continuing views on Bitcoin and the internet of value, and closes with some very heartwarming and inspiring words and even a couple basketball analogies. Links for more info: https://twitter.com/MarkYusko https://www.morgancreekcap.com/ Show Sponsor: hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Michel, Alec Harris Music: New Friend Music newfriendmusic.com/ Podcast & videos Bitcoin, privacy, cryptoeconomics & liberty Thanks for watching! https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the sixteenth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:40 Gold-silver ratio: Prices 02:25 Gold-silver ratio: Ounces (mining) 05:15 Gold-silver ratio: Market capitalization 10:15 Exponential regression trendline (80% R-squared) 11:00 2-sigma moves down or up 15:30 Implications for the silver bugs? Here we look at three different gold-silver ratios over 520 years. The first is revisiting the gold-silver price ratio, the second is revisiting the gold-silver mining ratio, and the third is looking at the gold-silver capitalization ratio. Coefficients: y = a * EXP (b * x) y = y-intercept * EXP (slope * x) y = 0.8 * EXP (1.38% * x) https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifteenth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:25 Gold-silver ratio: Prices 09:55 Gold-silver ratio: Ounces (mining) 17:15 All-time average (mining ratio) 20:10 Implications for the silver bugs? Here we look at two different gold-silver ratios over 520 years. The first is revisiting the gold-silver price ratio, and the second is the gold-silver mining ratio. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.