Blockstream Talk

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Welcome to Bitcoin Capital #10, featuring Eric Balchunas, Senior ETF Analyst for Bloomberg. In this episode, we dive into the critical elements shaping the future of Bitcoin and the broader financial market:

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Follow RustyFollow Core LightningFollow GreenlightFollow Blockstream01:51 The Great Script Restoration09:58 GSR activation18:13 Covenants and layer-2s22:21 Dual Funding23:59 Bolt12 and Lightning Network spec26:26 Greenlight: non-custodial Lightning-as-a-service29:56 X-Pay plugin for Core Lightning36:06 Core Lightning ecosystem growth45:47 Bitcoin in 2025

Join us for Bitcoin Capital #8 featuring Fred Krueger, Bitcoin maximalist and Wall Street veteran. Dive into a 2024 institutional recap before a forward-looking discussion about Bitcoin's trajectory in 2025 and beyond

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Learn about the global investment opportunities unlocked by the HSVIL token for financing the new Hampton by Hilton at San Salvador Airport with Michelle Matioda, Director at Mikro Capital and Roberto Laguardia, CEO of Inverlag. Investment details:

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liquid.boltz.exchange@Boltzhq @Liquid_BTC Liquid.net00:45 What does Boltz do?02:26 Using Liquid swaps04:20 Why build on Liquid?05:37 Challenges during implementation07:42 Other channel rebalancing solutions11:40 The swap process between Liquid and Lightning15:34 What level of trust does Boltz require?18:02 Lightning Network capacity20:57 Bitcoin layer-2s supporting each other22:05 Lightning Network transaction sizes25:12 Lightning Network adoption31:25 Optimizing Boltz33:25 The Boltz API

Liquid Network@Liquid_BTCBuild On L2@basedlayer1:58 Las aplicaciones de blockchain en los mercados financieros5:48 Los beneficios de usar estas tecnologías en los mercados financieros, tanto para los participantes del mercado como para los consumidores15:06 Los desafíos principales que enfrenta la adopción de blockchain en los mercados financieros y cómo se pueden superar21:10 ¿Qué es Elements y cuáles son sus principales características?26:31 UTXO vs. Modelo de Cuentas34: 09 ¿Qué es el Liquid Network y cómo funciona?37:49 ¿Qué es el “shadow banking”?40:27: La industria de los pagarés y sus principales desafíos49:01 Otras industrias que tienen similares desafíos y una gran razón para digitalizarse de la misma manera que los pagarés?51:36 Mineros de Bitcoin digitalizando sus acuerdos de compra de energía por parte de mineros

Downlaod Blockstream GreenBlockstream Green Testflight 01:14 Lessons from the Green Beta testing07:46 Mnemonic interchangeability12:50 Blockstream Green for beginners16:47 A Bitcoin wallet's core services24:03 Blockstream Jade as a Bitcoin Miner26:48 Blockstream Green's pin unlock service29:22 Secure elements35:00 Open-source software & DIY35:50 Liquid integration with Green37:22 Watch only wallets39:37 Greenlight

Welcome back to Blockstream Talk. Today's conversation is with Scott Millar, founder of SideSwap. SideSwap is one of a growing list of companies building out financialand capital market applications on top of Bitcoin.The platform offers a decentralized peer to peer way to trade assets on the Liquid Network. Including security tokens like the Blockstream Mining Note. SideSwap also makes it easy to peg-in and peg-out of the Liquid Network, meaning you can easily flip between Liquid Bitcoin and Bitcoin point. If you find the conversation useful, don't forget to subscribe and share. 2:14 Why build on Bitcoin? 3:32 Colored Coins protocol 5:32 How Atomic Swaps work 8:00 The spectrum of decentralized finance 8:52 What SideSwap is focused on 12:14 Lessons from previous Bitcoin cycles 12:57 The importance of Bitcoin based capital markets 17:26 Issuing securities as bearer assets 19:35 The tokenization of securities 20:37 Transfer restricted asset technology 25:12 Differences between CEX & DEX 26:19 Private swaps on SideSwap 27:22 What does PEGx do? 31:46 Voting with Liquid digital securities 35:48 Dealing with regulators when facilitating trades

Welcome to Blockstream Talk. Today, we're talking to Robin Linus and Lucas George of Zero Sync, a nonprofit working on technology that allows for a compact cryptographic proof to substitute the hundreds of gigabytes of information that make up the Bitcoin blockchain. Meaning the entire history of Bitcoin could be validated in an instant rather than in hours or days and when combined with something like the Blockstream Satellite, the implications are pretty far reaching. If you enjoyed this conversation don't forget to subscribe and share. 2:39 Zero knowledge proofs 5:36 What makes ZeroSync different? 6:43 ZeroSync and Blockstream Satellite 8:37 Benefits of ZKPs 9:47 Development timeline 11:34 Hardware requirements 13:12 Use cases for the ZeroSync toolkit 15:39 Stark proofs, Simplicity & the Liquid Network 20:04 Security of ZeroSync proof systems 23:45 Long term implications of ZKPs for Bitcoin

Welcome back to Blockstream Talk. Today, we're talking to Rich Gramberg from the Jade product and support team. After a long list of blow ups over the last couple of quarters across the exchange, lending and fund spaces, and now also failures emerging within the banking sector, counterparty risk and the importance of self custody is really being highlighted. The topic of today's conversation is all things Jade covering the importance of taking self-custody your Bitcoin, where demand for hardware wallets is strongest, how to build your own device if you're so inclined, and new features that are in the pipeline for the second half of this year. If you find this conversation useful, don't forget to subscribe and share this conversation with your network. 01:51 Major developments in the self-custody landscape 03:41 The fundamental problem Blockstream is solving 08:55 The fundamental problem Blockstream is solving 12:35 Other Bitcoin wallets that Jade works with 13:37 The Blockstream Jade reseller program 15:21 Blockstream Jade blind pin server 19:05 Other assets that Jade supports 20:50 The next 12 months in Jade development 22:53 Lightning integration in Blockstream Jade 23:50 Blockstream Green UX development 25:00 The Bitcoin hardware wallet market 26:23 Tradeoffs between singlesig & multisig 28:30 Common difficulties in bitcoin self-custody 29:55 Demonstrating Jade at Bitcoin Park 32:40 Common questions for Blockstream Support 34:42 How the Jade DIY process works 36:22 2023 look ahead for Blockstream Jade

Welcome to Blockstream Talk, today, we're talking to Tomás Alvarez, CEO and Co Founder of Mifiel. Thomas and his team are using the Liquid Network as issuance technology for promissory notes in Mexico. This promissory note market is big not only in Mexico but across Latin America. It's really interesting to see Liquids solve for some of the inefficiencies in the market. Streamlining the issuance process, facilitating cross border transactions, and then those benefits pulling in mainstream institutional investors. This is the direction markets are evolving. If you found this conversation useful, don't forget to subscribe and share. 0:00 Introduction 01:05 The fundamental problem Mifiel is trying to solve 01:38 What is a promissory note and what kind of people are using 04:27 Other markets that utilize promissory notes 06:13 Dealing with challenges in technology adoption 07:57 Utilizing the Liquid Network for tokenization 9:52 Dealing with regulations and licensing considerations 11:17 Secondary market trading of promissory notes 16:02 Decentralization and promissory notes 19:53 Quantity of promissory notes issued by Mifiel 20:43 Interest rates on promissory notes 23:24 Demand for promissory notes 25:03 Handling defaults on promissory notes 26:47 Reasons for issuing on the Liquid Network 32:52 Short term outlook for Mifiel 37:09 Benefits of tokenization

Welcome back to Blockstream Talk. Today's conversation is with Kyle Fry, CEO and Co-Founder at DIGTL Markets. Kyle and his team have been deep in the digital security trenches for a number of years already and have built up the network of securities exchanges and alternative trading venues to support digital security or security token trading. It's great to get Kyle's perspective on where they see the digital security industry evolving and why the Liquid Network is the best choice for issuers. If you enjoyed this conversation share it with your network. 03:25 What makes MERJ unique 07:35 Different reasons for offshoring business 11:25 The Blockstream Mining Note and US markets 12:43 Security tokens & digital securities 24:16 Evolution of capital markets 34:35 How STOs can improve markets 43:19 Building on the Liquid Network 48:37 Risks and regulations after FTX crash 52:31 Future outlook for asset issuers 54:58 The STO industry in 10 years

Welcome to Blockstream Talk. Today's conversation is with Rusty Russell, a senior lightning network developer at Blockstream. Rusty is an OG contributor to open-source software and was tasked with helping transition the Lightning Network from an academic paper to a real world payment protocol seven years ago when he joined Blockstream. Lightning Network capacity is now up around five thousand bitcoin, pretty close to an all time high despite recent price weakness. Rusty highlights, reasons for growth, some new applications and also gives us a sneak peak into new features expected to be rolled out in the coming months. 01:27 Starting work on Lightning at Blockstream 03:44 Lightning Network global adoption 04:46 Work on Bolt12 Lightning spec 10:41 Factors driving Lightning adoption 15:15 Bookkeeping with Core Lightning 21:31 Lightning Network unlocking micropayments 23:45 Integrating Lightning into Blockstream Green 26:02 Lightning wallet recommendations 28:48 Thoughts on El Salvador Bitcoin and Lightning adoption 32:55 Working in the open-source software space 38:43 Comparing Bitcoin to Linux 47:33 Exciting things coming to Lightning

Welcome to Blockstream talk. Today's conversation is with Blockstream's CEO and Co Founder, Dr. Adam Back, he joins us for a review of the ongoing meltdown of FTX and Alameda research. Adam is a wealth of knowledge and market context who offers a unique perspective when you try and figure out what has happened so far, how things could evolve going forward, and what are the key lessons for users and investors. As well as how would happen to Alameda and FTX matches up to previous blow ups. If you find this conversation useful, don't forget to share it with your network. 00:43 FTX failure overview 04:45 Bankruptcy vs recovery token 09:55 FTX post mortem 33:43 Exchange revenue rights model 39:05 Proof of keys day 52:14 Lessons for investors from FTX insolvency 59:16 The future of DeFi 1:20:48 Asset issuance on the Liquid Network 1:25:02 Bitcoin mining market conditions 1:29:15 Crypto bailout pool 1:32:47 Looking ahead on the Bitcoin network

Welcome to Blockstream Talk, today's conversation is with Matthew Haywood, product manager for Blockstream's asset management platform. The Liquid Network was originally conceived as a faster, cheaper, more confidential way to move bitcoin around. Over the last couple of years though, it's evolved to allow a lot more flexibility including the ability to issue and manage a variety of different assets. That includes transfer restricted assets which can be used to facilitate security token issuances. Blockstream AMP allows you to quickly issue standards-based digital assets for applications such as security tokens and stablecoins. It offers detailed reports on user balances and allows you to track assets throughout ownership transfers. You can enforce granular ownership restrictions either through Blockstream AMP or your own authorization API. We also touched on some really fundamental considerations in the security token space like, what is tokenization? 03:06 Path to Bitcoin 05:56 The Liquid Network 07:22 Other assets and AMP management 09:06 What is the Liquid Federation? 13:56 Governance within the Federation 16:17 L-BTC Peg in growth 18:03 L-BTC as the native token 20:15 L-USDt transaction volume 22:54 Different layer-2 use cases 25:44 Liquid documentation for institutions 26:58 Asset management platform 33:24 Threshold for Tokenisation 36:22 The new Asset Management Tool 42:10 KYC responsibilities on the Liquid Network 43:57 What's next for the Blockstream Asset Management Platform

Welcome to Blockstream Talk, today's conversation is with Alyse Killeen founder and managing director of Stillmark, a Bitcoin focused venture capital firm. Alyse is very clear about the distinction that needs to be made between Bitcoin and crypto and we discuss how this applies to capital allocation within the venture capital industry, how Bitcoin VC is different from both traditional internet focused VC and also often more narrative driven crypto VC. This was a really good conversation if you found it useful don't forget to share it with your network. 04:05 Health of the VC industry 06:49 Pitching Bitcoin to investors 09:08 Differentiating Crypto and Bitcoin VC 12:10 Narrative investing within Crypto tokens 28:18 Capital allocation framworks 32:55 The future of security tokens 36:14 Bitcoin's importance globally 39:41 Most exciting work within Bitcoin #Bitcoin #Investing #Blockstream #Stillmark

Welcome to Blockstream Talk. Today's conversation is with Assaf Gilboa, Blockstream Executive Vice President of Hardware Engineering. We discussed Blockstream's acquisition of ASIC manufacturer Spondoolies and the new synergy created. We also went in depth on the centralization around the semiconductor foundry business and the bottleneck that is TSMC and Samsung as well as equipment order logistics and whether energy is the big pinch point constraining Hash rate growth. If you find this conversation useful, don't forget to share with your network. 05:29 Boom or bust in Bitcoin mining 07:22 What makes Spondoolies different? 09:20 Making ASIC parts easily replaceable 10:46 Blockstream and Spondoolies synergies 13:07 Optimizing Blockstream's Bitcoin mining 13:52 Air cooled and immersion mining 16:00 Institutional investment entering Bitcoin mining 18:17 Road map for Blockstream's upcoming ASIC machine 20:55 Centralization of chip foundry services 25:32 Essential advanced manufacturing processes 28:17 Foundry services planning rigidity 30:02 Difficulties in securing chip allocations 31:00 Bitcoin miners foundry requirements 32:14 Current selling pressure on miners 34:19 ASIC acquisition industry dynamics 39:24 ASIC price change implications 41:34 Mining industry consolidation during the bear market 43:33 Hashrate is looking for stability 46:43 Modelling Bitcoin hashrate and price 49:11 Why more manufacturers aren't in Bitcoin 53:00 Bitcoin mining in 5 years 58:39 The upcoming Blockstream ASIC

00:20 Personal privacy00:58 Eric's background01:53 Freedom = privacy03:41 Why work on Bitcoin?05:07 Chaumian mints, ecash, Federations08:43 Federated ecash11:25 Federations in the future12:57 Integrating Lightning into federations16:20 Tokens17:22 Lightning custodial usage18:17 Minimint_btc21:11 Bitcoin usage in El Salvador23:16 Choosing a federated ecash26:44 Exciting things moving forward

00:23 Discovering Bitcoin02:38 Blockstream Wallet Offerings05:05 Wallet Features09:53 Lightning Integration10:45 Long Term Wallet Development11:50 Going Off-chain12:13 Jade and Other Hardware Wallets15:29 Wallet Security24:36 Secure Elements26:26 Self-custody best practices30:11 Custodian Stress Tests30:40 Exciting Bitcoin Developments

00:55 - What happened in the Terra ecosystem? 08:05 - Crypto market cap is a misleading metric12:11 - UST failures effect on other stablecoins23:40 - Incentives within the DeFi space 26:30 - Could the Luna situation have ended differently?31:15 - Stablecoin velocity and resiliency36:09 - Liquidity and backing within stablecoins 41:21 - Bitcoin stigma in banking44:08 - Key lessons

Welcome to Blockstream Talk today's conversation is with Kerem Tibuk of BTCTurk one of the longest-running exchanges in the business. In times of extreme currency distress or aggressive, Capital controls, Bitcoin becomes the safe-haven asset of last resort and we see prices spike around these kind of events. Kerem offered his boots on the ground assessment of how these kind of events can translate into real world Bitcoin adoption. We also discussed the many trials and tribulations of being an exchange operator, in what is still a very hostile world. Enjoy the conversation. Don't forget to like, subscribe and share.