Day: December 3, 2019

Unpacking Bitcoin’s Assurances

We make claims about Bitcoin’s assurances all the time.  It is censorship resistant, it’s open and permissionless, it’s counterfeit proof, etc.  But are these things entirely true? When someone wants to acquire, use, or validate Bitcoin, how well do the claims match reality?

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My Path to Bitcoin Maximalism

Today we read an excellent article by Ben Perrin (@Btcsessions) laying out an excellent argument that reveals #BitcoinMaximalism as the meticulous and thoughtful position it actually is.  Rather than the arbitrary, religious, & closed-minded position many altcoiners would want you to believe.

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Deflation & Liberty – Part 2

“If Bitcoin’s supply is expected to be endlessly deflationary, doesn’t this ensure a never ending, economy destroying downward spiral?”

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Deflation & Liberty – Part 1

If Bitcoin’s supply is expected to be endlessly deflationary, doesn’t this ensure a never ending, economy destroying downward spiral?

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Modeling Bitcoin’s Value with Scarcity

The incredible model for predicting and assessing the value of the Bitcoin network by @100trillionUSD is analyzed in his exceptional article that we read on today’s show, “Modeling Bitcoin’s Value with Scarcity.” With an R^2 above 95%, if you plan for a bitcoin future without closely assessing this model, you are ignoring a powerful indicator.  Hear all about what it means for “orange coin number” in today’s episode!

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More Immutable than Stone

We start today’s show reading a short Twitter thread by @simonlutz21 which sparks a fun discussion about the presence of Proof-of-Work in nature, the awesome utility of immutability, and the power of Bitcoin’s inalterable ledger.

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Bit Gold

There were many precursors to the Bitcoin system, but IMO, none came as close to correctly defining the problem, and solving the key issues of trust as Nick Szabo’s Bit Gold concept. Reading another great piece made available by the Nakamoto Institute, we read and discuss the incredible prescience of Szabo through one of Bitcoin’s forefathers, Bit Gold.

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BetterHash, Decentralizing Bitcoin Mining with new Hashing Protocols

What if we already had a solution to one of the biggest threats to the Bitcoin network, but simply weren’t implementing it? Today we read another great piece by StopAndDecrypt breaking down the numerous vulnerabilities of centralized mining pools, that simply wouldn’t exist, with the implementation of a TheBlueMatt’s new hashing protocol, BetterHash.

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Lightning, Why I Quit the Bond Market for Bitcoin

Another of the many great pieces from Nik Bhatia getting into the impact and scope of the system that the Lightning Network could become. Bitcoin is neither just a store of value, nor just a medium of exchange, it’s both. The LNP/BP protocol stack is taking us into the future, hear all about it in today’s read from Nik Bhatia, now part of the OpenNode team, titled “The Lightning Network: Why I Quit the Bond Market for Bitcoin”

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Transaction Count is an Inferior Measure

To think of the value of a global, jurisdiction-less, “money-for-enemies” network as nothing more than the result of how many transactions it can do on the base layer, is to miss the point entirely. The difference between the payments systems and settlement systems of the world, their degree of assurances, and the desirable characteristics of their operation are often diametrically opposed.

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