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Bitcoin & Blockchain

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

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

Stock Market Amplified Ponzi Schemes (SMAPs)

Peter Schiff (@PeterSchiff) posted on X-platform calling the committed BTC buyer Michael Saylor the Egg Man. Mr. Schiff’s post is funny, but does not capture the true deceptiveness (and effectiveness) of Saylor’s BTC scheme. Saylor’s scheme is a Stock Market Amplified Ponzi (SMAP) scheme. It is quite simple but terribly effective, thanks to its deceptiveness and the crowd’s propensity to fall for such deceptive schemes. It all starts with BTC, which is already a classic… Read More »Stock Market Amplified Ponzi Schemes (SMAPs)

Innovating in the “phygital” (physical-digital) realm

Satoshi’s blockchain creates a new reality called “phygital” (physical-digital, in which a digital item, say a set of bytes, is given certain physical properties). The phygital reality opens up a new realm, which can interact with the existing digital world and the physical world. Using a blockchain to control a computing process outside the blockchain is one example. Endless possibilities exist which can be created now and in the future. The new phygital reality supports… Read More »Innovating in the “phygital” (physical-digital) realm

Tokenized Credit-based Community Money

Introduction This article is a critique of debt-based fiat money and the potential of tokenized credit-based community money. The contemporary monetary system is predominantly based on debt-issued fiat currencies, a structure that has attracted significant criticism due to its moral and economic implications. Money is fundamentally a credit instrument, a promise of the issuer to redeem it for something of value. In this sense, only providers of real goods and services have intrinsic qualifications to… Read More »Tokenized Credit-based Community Money