“No equation, no chart in this fourth part. Just a short discussion about the total cost of Bitcoin’s PoW. It will offer us the opportunity to introduce another fundamental property of PoW which makes it truly unique.” -LaurentMT
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“In this third part, we’re going to focus on a slightly different question: “Is the system running at its optimum?” -LaurentMT
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Listen to @Laurentmt‘s article explaining how the Yin and Yang of Bitcoin, Hodling & Mining, affect the efficiency of the system and how they drive the system’s dynamics.
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“At last, we have derived two metrics which both suggest that contrary to a widespread opinion, Bitcoin’s PoW is actually becoming more and more efficient.” –@Laurentmt
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“You’ve heard of Bitcoin. You do not like it… It relies on curious, antiquated ideas like sound money, peer-to-peer networking, the abolition of seignorage, and censorship-resistance. It is profoundly distasteful.” –Nic Carter
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Bitcoin is the first truly decentralized registry for property ownership. The first application of which is value in its most abstract form, money. But how can we extend this to physical property and titles outside of political institutions? Who better to explore the topic with than Nick Szabo (@nickszabo4)? “Securing Property Titles with Owner Authority.”
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“Compromising on trustlessness could help the Bitcoin price find a local maximum, at the expense of finding a much higher global maximum.” – Pierre Rochard
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“A Statist is a man or woman who believes that only the State should be the final arbiter of every activity man can engage in. In Bitcoin, Statists are a constant irritant and lethal toxin.” @Beautyon_
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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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