To think of the value of a global, jurisdiction-less, “money-for-enemies” network as nothing more than the result of how many transactions it can do on the base layer, is to miss the point entirely. The difference between the payments systems and settlement systems of the world, their degree of assurances, and the desirable characteristics of their operation are often diametrically opposed.
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Today we read a veritable Bitcoin Manifesto on a fundamental truth of Bitcoin’s nature, the challenge it poses to the state, the atrocities it seeks to dismantle, the hubris of alternatives, its promethean origins, the values it codifies, the role its already playing, and its patient unstoppable advancement.
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Today we have a follow up to Nic Carter‘s excellent piece on Medium, A Most Peaceful Revolution.
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Even with #Bitcoin, are we destined for a future with intermediated payments? Will that give us a different color of the same system we’re stuck with today, or will Bitcoin still prove to be a revolution in financial trust? Lets dig deeper into the objections to Bitcoin Banks in Part 2 of @nic__carter’s “How to Scale Bitcoin (without changing a thing).”
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“If you build a system meant by its very nature to dis-intermediate third parties and exist independent of governments and legal systems, you have an identity problem.” –Nic Carter
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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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“I’m going to expose the Washington Post/Wonkblog piece for the nonsensical ramble that it is… in short, it relies on mistaken assumptions to paint a misleading picture of the world.” –Nic Carter
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Many different and often conflicting ideas of what Bitcoin is, and what it’s future should be, have emerged throughout the years. Here @nic_carter‘s and @hasufl‘s exploration of past, present, and future narratives that molded Bitcoin into what it is today.
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