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Blockchain scalability and Teranode

Scalability is widely misunderstood.  First, most people in the blockchain field do not understand what scale a blockchain must achieve in order to have any universal utility. Elon Musk thinks DOGE has real potential because it does 40 TPS, and others marvel when Solana pushes 50,000 TPS during tests (unconfirmed), but the fact is that real-world adoption requires TPS in millions and potentially billions. See: The Necessary Scalability of Layer-1 on Blockchain. (And it would bring up… Read More »Blockchain scalability and Teranode

The economic nihilism

We live in a world where most people’s philosophy for life heavily weighs toward nihilism, which believes that life has no inherent purpose or value. Few openly express it this way. But that’s how most people act. If one believes that “a dollar is a dollar is a dollar, and it doesn’t matter how you have managed to get it into your own pocket”, he has just expressed economic nihilism. But the crypto people have… Read More »The economic nihilism

Elon Musk misunderstands Bitcoin and blockchain

Elon Musk is concerned about the centralization of Bitcoin. But he fails to realize that Bitcoin’s biggest problem is NOT that it is centralized at mining, but it is secretly centralized at a human Core, which is controlled by a handful of human agents who ideologically and economically represent certain powers behind the scenes. This is why Satoshi wanted Bitcoin’s base protocol to be locked. Satoshi understood Bitcoin as a system comprehensively, including computing, economics, and… Read More »Elon Musk misunderstands Bitcoin and blockchain

“We are making $500 million a day,” says Michael Saylor

“We are making $500 million a day,” says Michael Saylor, CEO of MicroStrategy, on CNBC. But this is typical scam language. When you hold a large position on a volatile asset, it cuts both ways. For example, if one holds $10 billion worth of the asset, you make $500 million a day when the price goes up 5% on that day. But you also lose $500 million a day if the price drops 5%. This… Read More »“We are making $500 million a day,” says Michael Saylor

Trump is being misled into promoting crypto scams

What I have feared is happening: President-elect Donald Trump will meet privately with Coinbase CEO Brian Armstrong and is expected to discuss appointments. Given the admirable entrepreneurial spirit of the Trump team, I was hoping that the incoming administration may be able to break through the thick fog created in the name of crypto and start to see the true essence of blockchain innovation based on Satoshi’s vision. But lo and behold, the opposite is… Read More »Trump is being misled into promoting crypto scams

Warren Buffett vs. Michael Saylor

Michael Saylor criticizes Warren Buffett holding $325B in cash: “They are destroying $3B a month in shareholder capital. They are generating a 3% after tax yield at best and the cost of capital is 15%. Take 12% negative real yield, $325B times 12% is what the shareholders are paying for that.” “If I had an hour alone with Buffet in a calm environment, I’d walk out and he’d say that this Bitcoin $BTC thing is… Read More »Warren Buffett vs. Michael Saylor

Prayer of saints

(The following prayer is based on the book of Ephesians in the Bible.) Our Father in heaven, holy, righteous, loving, and merciful God, gracious and glorious Father, we come before You in the name of Your beloved Son, our Lord Jesus Christ, to pray to You. We thank you and worship You! May praise be to You, the God and Father of our Lord Jesus Christ! Part 1. Father, You have blessed us in Christ… Read More »Prayer of saints

On Liberty – the self-contradictory liberalism

The West, including Europe and the U.S., is losing liberty and experiencing spiritual death. The strongest and clearest indicator of this is the tyranny of ‘Absolute Relativism’. Under Absolute Relativism, liberalism has become self-contradictory and has led to bondage. Under Absolute Relativism, there is no moral bottom, only yet-to-be-manifested corruption. Under Absolute Relativism, there is no spiritual light, only darkness. A society cannot survive if it believes ‘there is no absolute right and wrong’, let… Read More »On Liberty – the self-contradictory liberalism

Patents and globalization

Having been a patent attorney for a major part of my career, I must admit that I took the openness of the US patent system for granted until when I started to think about it from the point of view of global and national strategies. I don’t know for sure what kind of a patent system is better or optimal, to be honest. But I do see problems. The patent laws were developed in the… Read More »Patents and globalization

Bitcoin and electronic cash

In a post on the X-Platform, Dr. Wright gives a great explanation of bitcoin as electronic cash from a sound and practical legal perspective. Unfortunately, it goes way beyond the cognitive sphere of the BTC and will unsurprisingly bring little enlightenment to that world. I see Dr. Wright consistently doing a superior type of abstract thinking while BTC followers consistently commit the error of an inferior type of abstract thinking. There is a need to… Read More »Bitcoin and electronic cash