“We have nearly 11 years of empirical evidence that the network itself has been holding and transacting bitcoin, but instead of with private key signatures, it’s in exchange for hashed electricity.” – Phil Geiger
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“Money is an intersubjective problem, and a choice to opt into one monetary medium is an explicit opt out of the other, which in turn causes one network to gain value (and utility) at the direct expense of another.” – Parker Lewis
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“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
There is nothing about blockchain that makes it inherently immutable. Immutability emerges over time as the consequence of economic incentives and a native monetary unit that secures those incentives. It is hard won in the battle of monetary competition, something that cannot be copied or challenged with frivolous features, or arbitrary “utility.”
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A spiraling tower of debts to pay for our previous debts. Central Banks repeating the same policies that caused our problems as their solutions. The confiscation through counterfeit of Trillions in economic production. Massive distortions of the price mechanism & monetary authorities who argue over not whether they should, but by how much they will debase our hard earned money. Bitcoin Fixes This!
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The 5th installment of the always fascinating “Gradually, then Suddenly” series from Parker Lewis and Unchained Capital. What is the real problem that Bitcoin solves, and how does it compare to the alternatives? Are mass payments an impossible problem, and isn’t Bitcoin too slow to be global money?
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“There is no more important long-term use of energy than securing the bitcoin network.” -Parker Lewis
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Continuing the wonderfully fascinating piece from yesterday’s episode, all about the dynamics & game theory at play in a hash war between Mars’ Muskcoin, and Earth’s Bitcoin; as well as the gold rush to colonize the galaxy and establish a new blockchain (or timechain), outside the pull of Earth’s center of hash.
Reading Part 2 of Dhruv Bansal’s “Bitcoin Astronomy”
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Equal parts entertaining & intellectually intriguing, we start with Part 1 of Dhruv Bansal’s wonderful piece, “Bitcoin Astronomy!” The interplanetary center of hash, the Law of Hash Horizons, the Muskcoin Revolution, retaliation of the Bitcoin Empire, and the total economic devastation of the Hash Bomb! How could you not want to know more?
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To think that a hard monetary asset, with a perfectly inelastic supply, could go from a $0 market with no infrastructure, liquidity, or demand, to a global monetary instrument with vast infrastructure, the highest market liquidity, demanded by billions, but that this could somehow occur *without* volatility in the price, is an absurd & deeply ignorant claim.
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Alone, and feel the charm of existence in of souls like mine. I am so happy, my dear friend.
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