Bitcoin Haters

When many people first encountered bitcoin in the early days, the response was something akin to disbelief. The proof of work algorithm appears haphazard, and it's not obvious at all that it creates a stable system. Could something like this really work? It seemed somehow impossible (and there were academic papers that supposedly proved it...

satoshis per joule 2019

Not that much has changed apparently over the last year or so. However of all the shit on this blog, these analyses have been perhaps those which are the least a waste of your time, so here's another one. We will consider two commercial miners, which have improved in efficiency a bit: Bitmain Antminer T17...

The problem that blockchain solves

Well we previously phrased this as "the problem bitcoin solves", so hopefully we have improved somewhat on our accuracy. You be the judge. One of the reasons people are a little slow to understand the fuss over bitcoin and blockchain is that they are unaware that they are living in a fiat empire and unaware...

The case for public coin

Thesis: For the simple reason of security against counterfeiting and hidden debasement or issuance fraud, it is necessary to use a public architecture in any token or currency system. There is no reason not to use a public coin other than to allow corruption and secretive enrichment of a few at the expense of the...

The myth of debt based currency

Hello everyone! If you're heard of fiat money, you've probably also heard that fiat money is created as debt. New fiat money is issued (created) and somebody is now in debt, this means there will always be more debt and never enough to pay back the interest, the interest rates paid on new currency are...

The Environmental Case against Fiat

Here the general purpose "environmental" term refers to the conditions of life. Things like biodiversity, arable land, and sustainable ecosystems. We're talking about the prerequisites for life. If you like to assume this means human life that's fine because the prerequisites to human life directly include a huge portion of the body of life on...

Technology and Clusterfucknology

Hello Everyone! We're going to talk briefly about Wirth's law and related issues we face as citizens of the TriMetropolis of Cruftopolis, the Crufty City, and El Crufto, under the flag of the Clusterfuck Nation. So if you haven't heard of Wirth's law, please do check up on that link. That's right, software "gets worse"...