“to survive and prosper in this world, man can either make the things he needs and wants, or he can take them. This was true thousands of years ago and it is true today. To use a modern linguistic framing of this notion; man can either perform work to satisfy his wants and needs, or…
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“Base money is a liability of the central bank, and it’s used as a reserve asset by commercial banks. Broad money is the liability of commercial banks, and it’s used as a savings asset by the public. Treasuries are liabilities of the federal government, and they’re used as collateral by the central bank and commercial…
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“The difference between the Linden Dollar, World of Warcraft Gold, Fortnite V-Bucks, the Euro, and the U.S. dollar is in scale, not in nature. While V-Bucks are created and controlled by Epic Games (the company that created Fortnite), the U.S. dollar is created and controlled by the Fed. One impacts millions of people, the other…
Read More“The difference between the Linden Dollar, World of Warcraft Gold, Fortnite V-Bucks, the Euro, and the U.S. dollar is in scale, not in nature. While V-Bucks are created and controlled by Epic Games (the company that created Fortnite), the U.S. dollar is created and controlled by the Fed. One impacts millions of people, the other…
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“I believe Africa represents the most elegant use case for a Bitcoin standard in existence. In the paragraphs that follow I will explain why.” – Charlene Fadirepo Africa is a hugely under-appreciated, yet massive part of the Bitcoin universe that is growing into its own, due to multiple factors, the case for a Bitcoin standard…
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“This brings us to our fourth principle behind PoS, which is that **PoS relies on subjective truth**. There is simply no objective way to pick between two competing blockchains, and any new nodes to the network must ultimately trust some existing source of truth to resolve any ambiguity. This contrasts significantly with Bitcoin, where the…
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“It’s not and never was about equality or perfection. It’s about fairness and consequence. Bitcoin is “Responsibility go Up” technology.” – Aleks Svetski The principles and rules of Bitcoin do not establish utopia, they do not create a perfect equality for all participants, instead it creates fairness and enforces equal responsibility on all who use…
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“Even if we could somehow convince the world or the U.S. government to adopt a gold standard, there’s not really anything stopping them from claiming “it’s an emergency” and that we need to drop the gold standard and “temporarily” close the gold window. In this way, Bitcoin provides stronger assurances about our money than gold…
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“’Smart contracts’ as a term was coined by Nick Szabo back in 1996 before the idea of a blockchain was even a twinkling in Satoshi’s eye. They had nothing to do with DAOs, or decentralized exchanges or any of these types of constructs that people tend to think of when they hear the term.” – Shinobi…
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“Bitcoin is ripe for a massive disruption of systems like SWIFT, and at the rate the world is becoming both politically and economically unstable, I think that time is going to come sooner rather than later.” – Shinobi In the vision of consumers using Bitcoin to buy everyday goods and services, have we lost sight…
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