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Safe banking and fractional reserve banking

Caitlin Long has criticized the leveraged banking system. I think her criticism is spot on.  But as to the ‘safe bank’ solution Caitlin advocates, it is debatable.  At the same time, ‘over-capitalization’ is probably an oversimplistic criticism of safe bank model. Yes you can call the safe bank ‘overcapitalized’, but who is to decide? The options today range from the 100% capitalization of the safe bank model to the 3-10% capitalization of the existing banks. That’s… Read More »Safe banking and fractional reserve banking

Communalism vs. communism

Jared A. Brock wrote an interesting piece on ‘Capitalism vs. Communalism‘ based on his experience of a Bruderhof (brotherhood) community. I like the fact that he used the word ‘Communalism’ instead of ‘Communism’. The difference? God, faith, and love. Faith is the linchpin to put together a society like the Bruderhof (brotherhood) community, and the lack thereof is the reason why communism is always a disaster. Historically, this is not even accidental, because everyone who promoted… Read More »Communalism vs. communism

AI is not generative, but synthetic

Artificial Intelligence (AI) is both underestimated and overestimated at the same time. Underestimated for its potential usefulness (or potential damages, if used improperly), but overestimated for its real generative intelligence or creativity. With its efficiency, AI will force people to redefine their jobs. With its fake ‘creativity’, however, AI will force human beings to reflect upon true humanity seriously. If the man (male and female) regards himself as just a biological machine, then not only… Read More »AI is not generative, but synthetic

Even BTC has become a security, but the original Bitcoin BSV remains a commodity

The crypto landscape has a defining characteristic: Most cryptos are unregistered securities, which are illegal the way they are promoted. They shouldn’t have existed, at least not in the current state. But they do. But how does such a world sustain itself? By hypocrisy. Here is a feature of the crypto hypocrisy: Facing the SEC, everyone wants to claim to be a commodity; facing the market, however, everyone wants to be a stock squared (better… Read More »Even BTC has become a security, but the original Bitcoin BSV remains a commodity

The real Bitcoin is green

The energy consumption of BTC mining has caused so much concern to the public that some are attempting to outlaw Proof-of-Work (PoW) mining altogether. But the energy consumption Is a problem with BTC, not with the real Bitcoin, Bitcoin Satoshi Vision (BSV). BTC is not the real Bitcoin according to the original Satoshi’s design. See...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Bitcoin and the quantum threat

Is Bitcoin quantum proof? With the anticipated (or more often imagined) rise of quantum computing, this is an often asked question. First of all, due to the yet-to-be-solved (perhaps even unsolvable) unscalable error correction problem and the peculiar algorithm of quantum computing, it is still unclear whether quantum computing will ever achieve scalable general computation....

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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A brief history of Bitcoin

Introduction Bitcoin was invented at the turn of the new century and made public on October 31, 2008 by Dr. Craig S. Wright (a.k.a., Satoshi Nakamoto), an Australian polymath. Wright was born in Brisbane, Australia to a family of both intellectual and public service (military) traditions. His maternal grandfather, Ronald Lynam, was a mysterious World...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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The cancerous crypto

The entire crypto space has gone astray and wasted over a decade of time and many billions of dollars to build on wrong blockchains and ineffective infrastructures, business models and the subsequent ecosystems. Many causes have contributed to the failure, but the unregulated crypto exchanges can easily rank among the top three reasons. Due to...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here

Blockchain is the New Global Data Network’s Authentication Layer

The Blockchain is a database that indexes transfers. The original method of transferring bitcoin was IP to IP. Nodes only reference the transfer. A user sends bitcoin directly to another user, and only then after the exchange has occurred would the transaction be referenced/indexed. Consequently, the argument that your tokens exist in cyberspace on the...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here

Bitcoin’s sphere of truth

Bitcoin Core (BTC) has successfully created a sphere in which a lie is operative. Without a competing sphere impinging on it, the BTC sphere would continue to exist, and the lie can continue indefinitely in the human timeframe. Although it won’t last forever, it may last a long time. When there is a conflict, some...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here