“When discussing consensus mechanisms for different cryptocurrencies, one issue that often causes arguments is a lack of understanding (and definition) of the security model that they provide for the historical data in the ledger.” —

“I believe it’s important to go back to what this sovereignty is made of. Bitcoin works because an economic majority is aligning incentives for every constituent of the network. The longer tail of the economic

“To not die, Bitcoin must become more used. The current thesis accepted by most “maximalists” is that Bitcoin will continue to be thought of as an investment and its price will keep increasing, the price

“Often overlooked is the importance of interoperability between not only the second-layer protocol and Bitcoin but the layer-2 protocols themselves. A second layer, where end-users can leverage several protocols together and move seamlessly between them,

“When reading a draft of this post, my wife got kind of depressed right around here. Her macabre question, basically, is: “if everyone just winds up interacting with sidechains, and not Real Bitcoin, hasn’t the

“The headroom there isn’t unlimited — expect it to show up as fee pressure and backlogs and less ability to quickly resolve transaction storms. And that will in turn make it hard and expensive for

“While bitcoin is still mainly seen as digital currency, it’s essentially a timestamped log with special properties. As such, it can be utilised for far more things than payments and store of value. I presented

“A successful blind merge mined sidechain with significant MEV opportunities could offer Bitcoin significant benefits, which could more than offset the disadvantages.” – “Blind merge mining works by a third party running the sidechain, building

“Talk to a bitcoin maximalist – someone who believes that bitcoin is the only digital asset with innate value – and, more likely than not, they’ll tell you the world’s oldest cryptocurrency is, in fact,

“Bitcoin is often referred to as a secure timestamping service. We never had a global record of truth with trustworthy timestamps, so how did this come about? It’s generally due to Proof of Work being

“Bitcoin represents the explicit encoding of previously implicit values of the tech community. It’s not just software — it is a Schelling point and a symbol. As such, it will become widely recognized as the

“Some networks are “smart.” They offer sophisticated services that can be delivered to very simple end-user devices on the “edge” of the network. Other networks are “dumb” — they offer only a very basic service

“The obsession with consumer payments in the Bitcoin community is an unfortunate relic of the fiat money era. Generations that have only known monetary hot potatoes that need to be spent before they devalue have

“To do our best to minimize the economics jargon once again, we might simply ask: what are you going to do with your time? Are you going to create or consume? And how do the

“While many of the innovations in the space are new, they’re built on decades of work that led to this point. By tracing this history, we can understand the motivations behind the movement that spawned

“Since 1800, in 51 out of 52 cases where a country’s debt-to-GDP ratio reached 130%, the country eventually defaulted. The only exception is current Japan, who is frankly in the final stages of circling the

“Today Americans celebrate 246 years of independence from the British Empire. On this day in 1776 the Founding Fathers made a declaration. It was a bold and risky action. Never before had a colonial state

“Your barber or stylist likely has the broadest network of anyone you know. People from every walk of life, including business owners, accountants, teachers, firefighters and politicians, sit in their chairs, sometimes for hours. It