Most cryptos are securities according to the Howey test
This article has been updated and replaced by a new article: Even BTC is a security.
Bitcoin & Blockchain
The structural impact of the Cost of Transaction (CoT)
The longer-term impact of the cost of transaction (CoT) is misunderstood and underestimated. It’s not just about something being cheaper or more expensive from an individual user’s viewpoint. The CoT is more fundamental in that it is structural. It determines what kind of transactions may happen and what kind may not. It also determines what...
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
Who needs blockchain/web3?
A recent post by Dan Thomas on LinkedIn brought up the issue of the usefulness of blockchain, web3, NFTs, etc., and touched on the question of decentralization and blockchain trilemma.
Any sign of sobriety during this intoxicating crypto frenzy is a good thing.
I partially agree with the original post, especially the point that many of the incumbent businesses shouldn't be excited about DLT and Web3 because, as the author points out, a lot of things they want to do can be done more efficiently and more economically using conventional database technologies.
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
One blockchain as the base layer of IoV
The next generation Internet will be both the Internet of data (IoD) and the Internet of value (IoV). The IoV will be an intrinsic part of the Internet, integrated at the base Internet layer (TCP/IP) for packets and transmission, rather than a mere application layer concocted upon the IoD. To do this will require integration...
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
Extreme stress tests of Bitcoin scalability
In this article, like other articles on the site, ‘Bitcoin/bitcoin’ refers to Bitcoin Satoshi Vision (BSV) not BTC, unless the context indicates a broader reference to include all forks and versions of the historical Bitcoin/bitcoin. Also, we advocate and follow the convention to use the uppercase ‘Bitcoin’ to refer to the Bitcoin blockchain system, and...
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 Genesis block & a ‘set-in-stone’ protocol
A great post and an instructive dialogue on LinkedIn. A thoughtful question by Michael Fletcher led to Dr. Craig S Wright answering with genuine Satoshi authority.
Genesis does not just mean the beginning. The purpose of calling this the Genesis block relates to the fact that there was nothing but chaos in the beginning. The creation of the Genesis block takes data without form and void as darkness upon the face of the deep. With this, light enters, and the system forms. That is why it is a Genesis block.
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
Price matters
With the daily total volume on the Bitcoin SV network reaching over 50% of the total number of transactions of all other blockchains – there are thousands of them – combined, but BSV price showing no response, suppressed below 0.1% of the total crypto market cap, it is natural to ask the question below: Can the utility level of Bitcoin (BSV) go through the roof, but the bitcoin (BSV) price never go up? A simple answer is… Read More »Price matters
Decentralization, a widely misunderstood concept
The concept of decentralization has taken a central place in the context of Bitcoin, blockchain, crypto and Web3. But it has caused some of the most consequential misconceptions about Bitcoin and blockchain, leading to a common belief that Bitcoin or any other blockchain must restrict its scalability in order to be “decentralized.” The misconceptions have provided 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
What is happening beyond the crypto noise
According to bitinfocharts.com, the total volume on the Bitcoin SV network over the past 24 hours surpassed 10 million transactions, which equates to nearly 4 times the total number of transactions of all other blockchains – there are thousands of them – combined. Denying that this is real adoption is bias. Denying that this shows...
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
How not to do DAOs
“Most ‘DAOs’ are a diversion tactic to avoid responsibility,” – Niels V. van den Bergh, CEO, mintBlue. The rest are just a result of being ignorant of the existence of such responsibilities. It’s a fantasy, an imagined fake world where responsibilities do not exist. This doesn’t mean smart contracts are useless, however. There’s a right way to do it. What is much needed is systems that “refactor” (borrowing the phraseology of James Belding, the founder and… Read More »How not to do DAOs