Premium Only Content

Banking Bitcoin with Allen Farrington & Eric Yakes
SHOW NOTES:
https://www.whatbitcoindid.com/podcast/banking-bitcoin
Allen Farrington is the co-author of ‘Bitcoin Is Venice’ and Eric Yakes is the author of ‘The 7th Property’. In this interview, we do a deep dive into the future of the Bitcoin-centric financial system, focusing on self-sovereignty, scalability, and the future of banking. We also explore the potential of Bitcoin to serve as a superior form of money addressing issues of custody and sovereignty, and the separation of money from state influence.
THIS EPISODE’S SPONSORS:
Iris Energy - https://irisenergy.co/
Wasabi - https://www.wasabiwallet.io/
Ledger - https://www.ledger.com/
Unchained - https://unchained.com/
Bitcoin Atlantis - https://bitcoinatlantis.com/
Swan - https://swan.com/
SUPPORT THE SHOW:
→ Become a Patron: https://www.patreon.com/whatbitcoindid/
→ Subscribe on iTunes
→ Leave a review on iTunes
→ Share the show out with your friends and family on social media
→ Drop me a line on hello@whatbitcoindid.com
→ https://www.whatbitcoindid.com/sponsorship/
SUPPORT BITCOIN
→ Donate to OpenSats https://opensats.org/
TIMESTAMPS:
00:00:00 Introduction
00:07:40 Scaling sovereignty
00:27:03 21M vs fractional vs fiat
00:44:18 Incentives of monetary sovereignty
01:09:58 Ark & scaling freedom tech
WHERE TO FIND THE SHOW:
→ My website: https://www.whatbitcoindid.com/podcast/
→ iTunes: https://apple.co/2OOlzVV
→ Spotify: https://spoti.fi/2ygc4W1
→ Stitcher: https://bit.ly/2IQO8fX
→ SoundCloud: https://bit.ly/2CGSVQR
→ YouTube: https://bit.ly/3nyi9Ez
→ TuneIn: https://bit.ly/2ywystr
LISTEN TO OLD EPISODES:
→ By guest: https://www.whatbitcoindid.com/guests/
→ By topic: https://www.whatbitcoindid.com/topics/
→ Transcriptions: https://www.whatbitcoindid.com/transcriptions/
WHERE TO FOLLOW ME:
→ Twitter: https://twitter.com/whatbitcoindid/
→ Medium: https://medium.com/@whatbitcoindid/
→ Instagram: http://instagram.com/whatbitcoindid/
→ Facebook: https://www.facebook.com/whatbitcoindid/
→ YouTube: https://www.youtube.com/whatbitcoindidpodcast
→ Website: https://www.whatbitcoindid.com/
→ Email list: https://www.whatbitcoindid.com/subscribe/
LEARN ABOUT BITCOIN:
→ Step by Step Guide: https://www.whatbitcoindid.com/learn-bitcoin
→ Training: https://www.whatbitcoindid.com/training/
→ Resources: https://www.whatbitcoindid.com/resources/
#Bitcoin #Finance #Economics
****
“We need to build a system that is not going to create any sort of systemic centralisation and the incentives are aligned so that doesn’t happen, that can defend us against fiat money, now the question of whether or not fractional reserve money still emerges in that system is another debate.”
— Eric Yakes
Allen Farrington is the co-author of ‘Bitcoin Is Venice’ and Eric Yakes is the author of ‘The 7th Property’. In this interview, we do a deep dive into the future of the Bitcoin-centric financial system, focusing on self-sovereignty, scalability, and the future of banking. We also explore the potential of Bitcoin to serve as a superior form of money addressing issues of custody and sovereignty, and the separation of money from state influence.
- - - -
The development of Bitcoin’s ecosystem is a balancing act: making Bitcoin scale whilst ensuring it maintains its offer as a medium for self-sovereignty. In this podcast, we discuss the current trade offs being debated within the community, focusing on the impact of high transaction costs, whether the Lightning Network equates to true self-sovereignty, a growing concern that UTXO ownership might become a privilege, and the role of covenants.
The underlying issue is the potential for the community to develop a neutral financial system directed by market participants. We discuss the potential for Bitcoin to serve as a better form of money, particularly in terms of its scarcity, its speed and cost of movement benefits, and the potential for shared custody models. We address the risks and trade-offs associated with moving into a Bitcoin-centric financial system, particularly in terms of custody and sovereignty.
Eric and Alan explore the idea of reducing information asymmetry and constraints within economies, and the implications for fractional reserve systems. They emphasize the importance of creating systems that increase information transparency and reduce the likelihood of fraudulent activities. The guests also discuss the proposal for “Ark”, its prospective role in a Bitcoin financial system and its potential to address Lightning liquidity issues.
As we move forward, it's clear that the Bitcoin ecosystem is at a crossroads, with emerging technologies offering both solutions and new challenges. The path to a Bitcoin-centric financial system is fraught with technical, economic, and philosophical questions that require our collective attention and ingenuity. This podcast is a chance to hear how two of the community’s leading thinkers are collaborating to consider these complex issues.
-
1:34:07
The Peter McCormack Show
2 months agoWhat Broken Democracies Can Learn from Switzerland | Phil Lojacono x Peter McCormack Show
111 -
LIVE
BEK TV
23 hours agoTrent Loos in the Morning - 8/27/2025
239 watching -
LIVE
The Bubba Army
22 hours agoTaylor Swift & Travis Kelce ENGAGED! - Bubba the Love Sponge® Show | 8/27/25
1,903 watching -
40:14
Uncommon Sense In Current Times
17 hours ago $1.70 earnedThe Dating Crisis in America | J.P. De Gance on the Church’s Role in Restoring Family & Faith
36.2K3 -
12:35
Red Pill MMA
19 hours agoNow We Know The Truth.. Hero Who Stopped Raja Jackson Speaks Out
10.4K7 -
41:04
Coin Stories with Natalie Brunell
1 day agoCooking, Culture & Crypto: Norma Chu’s Food Empire Turns Bitcoin Treasury
11.6K -
8:03
MattMorseTV
18 hours ago $8.87 earnedThings in the UK just got INSANE...
92K138 -
3:02:10
daniellesmithab
12 hours agoAlberta Next: Fort McMurray Town Hall
20.6K1 -
2:11:17
Side Scrollers Podcast
21 hours agoINSANE Illegal Migrant Propaganda Xbox Game + Paypal REFUSES To Pay Dev + More | Side Scrollers
68.7K4 -
20:58
GritsGG
1 day agoProtect the President Challenge on Warzone!
24K