Bitcoin is Not for Criminals
“Bitcoin can’t be a little bit censorship resistant in the same way that you can’t be a little bit pregnant.” – Parker Lewis.
Read MoreFundamentals
Bitcoin Cannot be Banned
“By design, Bitcoin exists beyond governments. […] The architecture of bitcoin is practically purpose-built to resist and immunize any attempts by governments to ban it.” – @parkeralewis
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Bitcoin is Not a Pyramid Scheme
“Not everyone understands what a pyramid scheme actually is, what the warning signs may be, or why such schemes always fail […] The distinctions should be glaringly obvious, but because bitcoin is complex and the very idea of money is not well understood, it can easily be confused.” – Parker Lewis
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The Rise of SIM Swapping
“For the better part of the last decade, the combination of these two practices has given rise to an increasing number of SIM swap attacks ending in the theft of bitcoin and other cryptocurrencies.” – David Hollerith
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Bitcoin Obsoletes All Other Money
“Money is an intersubjective problem, and a choice to opt into one monetary medium is an explicit opt out of the other, which in turn causes one network to gain value (and utility) at the direct expense of another.” – Parker Lewis
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The Tyranny of Time Scarcity
“Gold, the ancient and prevailing monetary sovereignty layer (representing an unmanipulable money supply), and the internet, the ultimate engine of exchange (representing global interconnectivity or liquidity). By combining and building upon the economic properties of both, Bitcoin is a momentous monetary innovation that has achieved the divisibility, portability, durability, and recognizability of pure information infused with the absolute scarcity of time.”
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Bitcoin is Not Backed by Nothing
“To provide broader context, the Federal Reserve, the Bank of Japan and the European Central bank have collectively created $10 trillion dollars-worth of new money since the financial crisis, the equivalent of approximately $500,000 per bitcoin. Despite dollars, euro, yen and bitcoin all being digital, bitcoin is the only medium that is tangibly scarce and the only one with inherent monetary properties.” – Parker Lewis
Reboot – Shelling Out: The Origins of Money
“The precursors of money, along with language, enabled early modern humans to solve problems of cooperation that other animals cannot – including problems of reciprocal altruism, kin altruism, and the mitigation of aggression. These precursors shared with non-fiat currencies very specific characteristics – they were not merely symbolic or decorative objects.” – Nick Szabo
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Proof of Stake, Private Keys Attacks & Unforgeable Costliness
Is there a single key factor in the difference between the assurances in PoS vs PoW? The knowledge and proof that there is a real world, inescapable cost to both producing the currency, & editing the chain history – unforgeable costliness. Learn about this, the private keys attacks that risk entire contesting histories in PoS systems, and to the nothing-at-stake problem. This and more in today’s read!
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Proof of Stake & The Wrong Engineering Mindset
What is the true set of differences between Proof of Work, and Proof of Stake? What are the engineering mindsets behind them both, and which is built explicitly to survive in the worst-case scenarios?
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