What happens when bitcoin is secured by fees?

Hello everyone! As you probably know as a reader of this blog or as somebody who has heard of woodcoin, I've been particularly concerned with this issue.  It's the issue that LOG tries to solve.  So lets take yet another look. To be explicit: the rapid drop of the coinbase reward given to miners, chosen...

What is money?

Opening Joke: Q:  How many bitcoiners does it take to tell you what money is? A:  All of them, apparently. OK so that joke was shamelessly ripped off from one about how many singers it takes to sing "Summertime", but the point is similar.  Way too many of us are eager to tell you "what...

Orcs - The Definitive Guide

Hello everyone! Mea Culpa Sorry, the title here is a bit tongue in cheek.  The reason I find it amusing is that the attitude of claiming some guide as definitive is itself what you would expect from an orc.  Generally these creatures have been defeated by the enemies of knowledge, and in this case it...

The coin test of artificial intelligence

In an earlier blog post we pointed out that the Turing test, unlike most of the guy's brilliant and influential work, is meaningless.  Basically the thing checks to see if a given system can fool a human into thinking it is a human, and if a human is thusly fooled - ascribes intelligence to the...

Strategic tricks used against the Coinsman

What could be the two most important political writings of the past decade were both written from prison cells, by political prisoners who spent substantial time in solitary confinement.  One is the "Manifesto for a Democratic Civilization" by Abdullah Öcalan, who had been an important member of the PKK.  The other is "Maroon the Implacable",...

Woodcoin - Two Years of Chopping LOG

Happy birthday Woodcoin! I'm going to use this excuse to take a look at the current state of the network and review the motivation behind using woodcoin. Part 1 PRICE Fig. 1   Market Capitalization of Woodcoin over first 2 years. Woodcoin is a small coin listed with a capitalization of ~200BTC.  This puts it at...

The Sheeple - Navigating Social Meadows of Investment

Introduction There are two kinds of people on this Earth: those who were born to be leaders, and those who were born to be followers. Ha ha 🙂  Such juvenile thinking is of course only to break the ice here for this post.  Seriously though, in the same vein as those who retreat behind "us...

The bad guys

One of the first criticisms of the bitcoin proposal on the cryptography email list appeared on Monday, Nov. 3, 2008: > As long as honest nodes control the most CPU power on the network > they can generate the longest chain and outpace any attackers. But they don't. Bad guys routinely control zombie farms of...

The urban vs. rural dispute

Well they say a picture is worth a thousand words: In this case you probably get the idea.  "Urban" is a word which can effectively mean cancer, as far as Gaia is concerned, which is by the way your name.  It's hard to forget the look of Denver from high in the Colorado rockies, a...

The big lie of colonialism

Mea culpa: I was told to address colonialism, then this thing sat in my drafts folder for about a year.  Lets give it a shot shall we? You probably have some idea what I am going to say now, based on the title.  What is the big lie?  Maybe one of the many lies told...