Part 2! of our journey through Nick Szabo’s incredible work, Shelling Out: The Origins of Money. A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
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Today we begin our journey through Nick Szabo’s incredible work, Shelling Out: The Origins of Money. A critical piece to understanding money, its rich history, and key properties through the eyes of the cypherpunks who revolutionized it.
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Alok Menghrajani, security engineer at Square, details their Multisig & Hardware key management system for the cold storage of customer’s Cash app Bitcoin balances. Plus their decision to embrace the principles of the Bitcoin culture and open source their efforts to the benefit of the whole industry.
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Vijay Boyapati details in a Twitter thread, the brilliant but subtle shift that cypherpunks discovered in the economic concept of scarcity that made the revolutionary technology of #Bitcoin possible.
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We are in the midst of a global collapse in trusted institutions. #Bitcoin and blockchain tech enable networks & economies that mitigate dependence on these intermediaries in the world’s largest market for trust: Money.
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As Bitcoin continues to succeed against all odds, there are more and more claims of how its “unfair” that early investors have profited. Dan Held argues in an excellent summary that Bitcoin was, and still is, the fairest distribution possible.
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“It’s a shame, then, given all the things he was saying that indeed needed saying, that the useful shade Roubini throws is sullied by a number of misrepresentations, exaggerations, and outright falsehoods” -Daniel Goldman
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There seems to be something inherently complementary between scarce digital goods in the video game world, and the systems that ensure the scarcity of cryptocurrency tokens. But do games like Fortnite and other incumbents have any incentive to adopt a crypto model?
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Another awesome post on the Lightning Labs blog, this time breaking down Alice’s search for privacy and a great mobile user experience with Bitcoin. Neutrino might be the solution she has been waiting for! Listen to find out more.
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“this system of prices is not an organized institution or structure that was created by any single person’s design. It was simply a natural consequence of trade between people even before money in a barter economy.” – Hayek
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