Pre-Show
Thank you Amy for a wonderful summary (https://amycastor.com/2023/08/03/crypto-collapse-terra-judge-repudiates-ripple-finding-razzlekhan-cops-a-plea-binances-fdusd-stablecoin-coindesk-sold-smart-contracts-still-stupid/) of the last week's crypto screwups and absurdities
Payment problems are affecting our friends on Etsy, the online marketplace's payments system is holding up to 75% of sellers funds (https://qz.com/etsy-scrambling-avert-seller-strike-over-payment-reserv-1850702861) due to being garbage, as well as crypto journalist Amy Castor as patreon has had some bounced (https://twitter.com/JasonKPargin/status/1686783605551382530) payments
News
At the same time as Fitch's downgrade: Tether Bought 1529 BTC in Q2, Holds More US Treasuries Than Australia (https://www.nobsbitcoin.com/tether-bought-1529-btc-in-q2/)
Economics
Fitch’s Debt Downgrade Is Unlikely to Deter Borrowing, Investors Say - The New York Times (https://archive.ph/En2KZ#selection-831.170-831.441)
both Democrats and Republicans unmovable on policies that could improve the country’s fiscal position. These include, he added, changes to taxes, military spending, and Social Security and Medicare, which are expected to face ballooning costs as more baby boomers retire.
Fitch's US Rating Downgrade Spotlights Debt Worry as Recession Fear Fades (https://archive.ph/C36k0#selection-6125.0-6125.295)
Treasury Secretary Janet Yellen called the downgrade “arbitrary” and “outdated.” Yellen has argued that rather than looking at debt-to-GDP, a better measure of sustainability is inflation-adjusted interest payments as a share of the economy — and that metric hasn’t been flashing warning lights.
Privacy
Privacy and paypal are non compatible. GrapheneOS, a private mobile android operating system: "Unfortunately, PayPal permanently locked our GrapheneOS Foundation account (https://nitter.at/GrapheneOS/status/1684643898319052800?ref=nobsbitcoin.com) today. No reason has been provided for the account being locked. All we've done is accept donations
Altcoins
Worldcoin Says It Will Let Interested 3rd Parties Use Its ID System (https://www.nobsbitcoin.com/worldcoin-europe-kenya-3rd-parties/)
the project also has fallen under investigation in France, UK, and Germany
It also has typical altcoin tokenomics (https://decrypt.co/149865/worldcoin-tokenomics-at-launch-supply-market-maker-loans), i.e. low float and majority of coins in early investor hands
Uniswap Delists HEX Token After SEC Deems It An “Unregistered Security” (https://www.newsbtc.com/news/defi/uniswap-delists-hex-token-after-sec-deems-it-an-unregistered-security/)
Bitcoin Education
Bitcoin Optech #262 is heavy on the software updates (https://bitcoinops.org/en/newsletters/2023/08/02/) and includes discussions of the pitfalls of blind signature signing
Feedback
Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/)
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Sponsors and Acknowledgements
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Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
