“Those who argue “high fees will kill adoption” fail to understand the intensity of assurances Bitcoin offers, and the ease at which it does this. Put lightly — Bitcoin is insanely cheap compared to alternative options for obtaining high degrees of assurance. Bitcoin is a vehicle built for moon missions, but we are giving it similar treatment to a scooter.” – ImacallyouJawdy
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The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world…
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Is Bitcoin’s security going to be unreliable, volatile, or could it even fail entirely when we lose the block subsidy? Or is Bitcoin set to operate smoothly with a natural transition from newly minted bitcoin, to transaction fees?
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Exploring the magic of cryptography using a magic hammer, gray dust, a magic potion, & a pair of very special pajama pants.
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Curious about all the #BitcoinTwitter buzz recently? I went digging to find the associated twitter threads & comments to read, and then discuss my own take on all the drama.
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The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world. Don’t miss the conclusion of Hayek‘s work, “The Use of Knowledge in Society.”
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Even with #Bitcoin, are we destined for a future with intermediated payments? Will that give us a different color of the same system we’re stuck with today, or will Bitcoin still prove to be a revolution in financial trust? Lets dig deeper into the objections to Bitcoin Banks in Part 2 of @nic__carter’s “How to Scale Bitcoin (without changing a thing).”
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Diving into a great piece by Conner Brown exploring the subjectivity of value, and why Bitcoin’s lack of “intrinsic value” is a benefit, not a hinderance.
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Today we cover all the incredible new developments coming to Lightning and what they will mean for the future the protocol!
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Today, in preparation of & to understand the significance of the vast array of new features and developments coming to lightning, we cover a full overview of the What, Why, & How of the Lightning Network.
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Alone, and feel the charm of existence in of souls like mine. I am so happy, my dear friend.
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