“Bitcoin enables perhaps the most powerful mode of ownership ever devised; it would be akin to gold inside a safe that can’t be penetrated with all the energy the universe, and with a password that

“Retrospectively, a lot of ex-DigiCash employees understand why Chaum was so paranoid. As a cryptographer you have to assume the whole world is trying to rip you off. A certain amount of paranoia is part

“Part of the problem of Lightning’s shortcoming regarding scalability of Bitcoin ownership is that in order to open a channel, or control a UTXO, you actually have to transact on the base layer. After that

” Channel liquidity and offline receives, in my opinion, are the two most obvious reasons why self-custodial lightning is not popular. When most users hear about any of these, they just think “screw that” and

“The computers used to create valuable new Bitcoin tokens and validate transactions consume around the same amount of energy as a medium-sized country such as Sweden would generate. Hence the stinging critique of how this

“Bitcoin appears to be a decentralized Ponzi scheme not a decentralized currency. People don’t spend it because they want it to go up. The dollar works because of inflation. It keeps velocity up like hot

“Since 2017, bitcoin has been Stone Ridge’s treasury reserve asset because of my extreme aversion to risk. We run net short USD – which is fancy way of saying we net borrow fiat – to

“This decision, which is legally sound, has the effect of declaring all private mortgages on real and personal property, and all U.S. and State bonds held by the Federal Reserve, National, and State banks to

“This makes Bitcoin miners uniquely symbiotic with energy grids serving as “demand response” partners. If energy is ever in short supply, people get priority over Bitcoin miners. However whenever there is excess energy, it gets

“We’re less than a year from another halving, awaiting systemic implications from federal regulation and institutional adoption, standing at the precipice of an American primary election into which Bitcoin has irrevocably inserted itself.
Welcome

“You’re a thirsty bitch. You like to gargle Peter’s balls.”
~ DeaterBob

Merry Christmas! In this reboot episode, we revisit the infamous debate between Bitcoin plebs American HODL and DeaterBob. They’re on the same

“There is a Remnant there that you know nothing about. They are obscure, unorganized, inarticulate, each one rubbing along as best he can. They need to be encouraged and braced up because when everything has

“Regulators will continue coming down on those custodians, making more demands for information, more demands on restrictions for what users can do with their money, they will not stop. So short of actually activating covenants

“I’ve done an overall analysis of the proposal by addressing seven different sections of where FinCEN is attempting to infringe on your rights. From violating the sanctity of your personal information and restricting your financial

“Nothing in the ordinal logic requires inscriptions to be linked to the “first” sat. So why is it the first sat of the first output? Why not the second sat of the first output? Why

The principle that one should help men in an emergency cannot be extended to regard all human suffering as an emergency and to turn the misfortune of some into a first mortgage on the lives