The trees, and public coins, are something that all people need.
Wow. This article by Phys.org is so appallingly bad i just have to tell you about it. Lets start with the obvious stuff. This is an article about a paper that doesn't even link to the paper. It also doesn't mention the names Merkle or Hellman (which appear in the first sentence of the paper). ...
Have you been following the USD market? A lot of bitcoin users follow the dollar market carefully. Today the dollar is worth about 4 millies, down from about 1000 millies just a few years ago. It has gone as low as 1 millie, about a year ago. How quickly will this decline continue to occur...
Please! just stop. I will keep coming back to update this as I see more errors in the wild 🙂 If you think i'm wrong, please let me know. 1) "Bitcoin is Deflationary" One way people like to posture as though they had a clue is to repeat other people. This works reasonably well in...
Lets think for a minute about the importance of an established internal consensus as an indication of awareness or intelligence. Bitcoin implements a consensus network capable of solving the decision problem. These first aware machine networks are incapable of the complexity of thought that we see even in unicellular life, however they represent an important...
Thinking about entering the marketplace? You'd better decide which creature you want to be. A catalog of the creatures that inhabit the depths of public currency trading oceans Whales A whale is any trader whose size is big enough to noticeably move the surface of the ocean. In other words, whales can move the price...
Sometimes we need to stare down the monster and say bring it on. If you ask me, there aren't enough mad 51% attackers. OK so most people start their discussion of a 51% attack by looking at ASIC prices. We are going to take a different tack here. How much does it cost to mine...
Really! Let's talk about low fees. You want to? Because if we can talk fees it will take the huge weight on our shoulders off, the pressure we might feel to talk about something more important such as the massive weight our generation has dealing with the discovery of bitcoin and it's profound effect on...
Hashing as performed by bitcoin mining is the equivalent of digging ditches in the yard and then filling them in. Day in day out. It is “make work” in it's purest form. Quite early in the bitcoin learning curve, people usually come across this idea in some form or another. Wait a minute, all the...
I've been thinking about this analogy a bit and it is standing up to the test of time at least well enough to let it see the light of day. You see, a lot of people point out that bitcoin sucks because it's totally unforgiving. True enough, in some ways. Kind of like gravity. So...
So this is a two part post. First, I'm going to ramble on uselessly about the terminology we have, in particular the term “cryptocurrency”. The point is to introduce us to actual “kryptocurrency”, and in part two talk about some of the players involved in that scene to expose my ignorance there. 1) Watch...