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What about Hyperbitcoinization?

Hyperbitcoinization is a term coined by Daniel Krawisz to describe the phenomenon of a fiat money being replaced by bitcoin at a hyperspeed with exponential acceleration. The concept is similar to hyperinflation in which a fiat money is replaced by an alternative money, except that in hyperinflation, a fiat money is replaced by another fiat or in some cases something even worse, but in hyperbitcoinization a fiat is replaced by a superior money, namely bitcoin.… Read More »What about Hyperbitcoinization?

Merkle Tree and Bitcoin

A post on Twitter summarizes how Merkle tree works, but has caused some debates. To be fair, the original post did a fairly good job to explain Merkle tree, albeit quite basic, not nearly as deep as how Dr. Craig S. Wright explained it in Merkle Trees and SPV, and further in Simplified Payment Verification. But as the two BSVers pointed out in Twitter replies, with its limited block size BTC does not need a… Read More »Merkle Tree and Bitcoin

God’s Plan and the History of Man

What does it really mean to believe in Jesus Christ and be a Christian? What is the point of believing anyway, when everyone has one life to live and expects death, a common end? Why does God care so much about whether we believe or not? There is a common misconception behind these questions: that faith is a subjective idea that originates in a person’s mind, which is human, and therefore, its meaning is found only in… Read More »God’s Plan and the History of Man

The US needs leadership in Blockchain and the New Internet

Statements of purpose: In this document, we first point out the existing problems in the field of blockchain and cryptocurrencies, but it is not our belief that a crackdown by the US government can be the primary solution to the problem. Rather, our focus is to point out the right direction of the technological development...

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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Bayesian probability and the Monty Hall problem

On a rare slow Friday, I found myself in a musing of the Monty Hall problem. You know the famous brainteaser, a probability puzzle in which you are a player in the game of guessing in order to win a prize. There are three doors closed, and behind each door is either a goat or a car, and whatever you have picked will be the prize for you. Of course, you want the car, not… Read More »Bayesian probability and the Monty Hall problem

Value – creation, definition & transaction

From an abstract point of view, the three most fundamental elements of the human economic and financial system are: (1) creation of value (2) definition of value (3) transaction of value.   Creation of value ‘Creation of value‘ is the central purpose of a productive economy. It should not be controversial to say that value is...

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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Switching to PoS – Ethereum’s predicted corruption

Ethereum is about to switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS). It is a predictable stage of corruption for an account-based system like Ethereum (see below). But it is incredible that people, even institutional investors, actually thought PoS was going to scale Ethereum.  It’s scientifically impossible, because scalability has to do with parallelization, which is...

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

More proof that UTXO is superior to account-based systems

The biggest structural and elemental difference between Bitcoin and Ethereum is that the former uses Unspent Transaction Output (UTXO) while the latter uses an account-based model. UTXO is like cash, In that every bill or coin is independent from each other. As long as a dollar bill itself is authentic, the validity of a transfer...

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

The unsecure Lightning Network as BTC’s layer 2 scaling protocol

“University of Illinois researchers have discovered a vulnerability in Bitcoin’s most popular second layer scaling protocol, the Lightning Network. Cosimo Sguanci and Anastasios Sidiropoulos published an academic paper describing a hypothetical attack based on a collusion of node operators. At the time of publication, they estimated that a coalition of 30 nodes could steal 750...

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

Craig Wright is Satoshi, counterarguments

Concerning the identity of Satoshi, someone suggested that I “dig deeper.” I appreciate the suggestion for more diligence, but I’ve done more than my share. And I’ve got more important things to do than proving someone’s identity, even if it is one as important as Satoshi’s. I’ve carefully looked into the arguments against Wright. They...

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