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The Tyranny of Time Scarcity

January 8, 2020 Guy Fundamentals, Philosophy 0 Comments

“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’s Eternal Struggle

January 6, 2020 Guy Bitcoin, Technology 0 Comments

Today we read Gigi’s great piece “Bitcoin’s Eternal Struggle” on the intricate dance between that which is built in randomness & entropy, and that which is created with complete unambiguity, with strict universal validation.

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Bitcoin is Not Backed by Nothing

January 2, 2020 Guy Beginner, Economics, Fundamentals 0 Comments

“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


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Reboot – The Three Economic Eras of Bitcoin

December 31, 2019 Guy Bitcoin, Economics 0 Comments

A most profound aspect of Bitcoin is that we know, with certainty, what the monetary policy will be no matter how far we look into the future. If we choose to secure sound money for the world, then we have to establish the important markets, build the tools and protocols, and most importantly make the tough decisions now, instead of kicking the can down the road.

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A Bitcoin Roadmap 2020 & Beyond

December 27, 2019 Guy Bitcoin, Development 0 Comments

Closing out an extraordinary year in 2019 has us looking forward at 2020 & Beyond. What will we bring to Bitcoin, and what could Bitcoin bring to us? Today we read an amazing thread by John Newbery on the exceptional list of tools and technologies making their debut on the Bitcoin and Lightning protocol stack that will change everything about how we interact with and use this incredible technology.

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Reboot – Shelling Out: The Origins of Money

December 23, 2019 Guy Fundamentals, Money 0 Comments

“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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The Passion of the Believers

December 20, 2019 Guy Bitcoin, Philosophy 0 Comments

“At the end of the day, everyone has to believe in something; might as well believe in something verifiable and unforgeable.”
– Hass McCook

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Proof of Stake, Private Keys Attacks & Unforgeable Costliness

December 19, 2019 Guy Fundamentals 0 Comments

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

December 18, 2019 Guy Fundamentals 1 Comment

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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Does Bitcoin Need Accounts?

December 16, 2019 Guy Blockchain, Technology 0 Comments

Another clever & censorship resistant system for identity within the Bitcoin system is being proposed. Called developer Jose Femenias Canuelo has created a system to safely & independently create a static on-chain account system, that would solve the need both of having to reuse Bitcoin addresses, & having to constantly generate new ones for every payment.

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