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Bitcoin & Blockchain

Bitcoin must have utility before it can become anything

“An honest man is one who knows that he can’t consume more than he has produced.” Ayn Rand, Atlas Shrugged. Before you take pride in how much wealth your favorite coin has extracted from the real economy, ask what your coin has contributed to the world, or at least will contribute. If you believe it has real productive value, please justify it using an honest theory that makes economic sense. Whenever destroyers appear among men,… Read More »Bitcoin must have utility before it can become anything

Cases co-pending with COPA v. Wright

In addition to COPA v. Wright (Case No. IL-2021-000019), several active legal actions in the UK High Court involve Dr. Wright. The COPA v. Wright case concerns the identity issue (whether Dr. Wright is Satoshi). The other cases are derivative matters such as property rights Dr. Wright claims against various parties, including BTC Core, Coinbase, Kraken, Block, Spiral, Blockstream, etc. These cases all necessarily depend on the identity issue because Dr. Wright’s property claims can… Read More »Cases co-pending with COPA v. Wright

The key in COPA v. Wright

The trial of COPA v. Wright is set to start in mid-January 2024. (UPDATE: The trial has now been rescheduled to start on February 5, 2024. Also, see a follow-up article on the case: The Additional Documents in COPA v. Wright.) The case has a unique significance. For the first time, the central issue of a lawsuit involving Dr. Craig S. Wright is the truth itself (Satoshi’s identity), rather than derivative matters such as property… Read More »The key in COPA v. Wright

Cases involving Dr. Craig Wright’s Satoshi identity

The trial of COPA v. Wright is set to start in mid-January 2024 (UPDATE: the trial is now rescheduled to start on February 5, 2024). For the first time, the central issue of a lawsuit is the truth (Satoshi’s identity) itself. Thus, the case has a unique significance. In anticipation of COPA v. Wright, I wrote a separate analysis of that case: The key issue in COPA v. Wright. I also wrote a piece on cases… Read More »Cases involving Dr. Craig Wright’s Satoshi identity

There is no Satoshi conspiracy in Bitcoin SV

Let me explain why the recent events concerning the former nChain CEO Christen Ager-Hanssen are costly signals that are an attestation of the validity of Bitcoin SV (BSV). The mass opinion and assessment of anything usually has multiple layers. In the case of BSV, the base layer of the world’s judgment against BSV is a most hideous and cynical conspiracy charge against it. Specifically, people believe that three individuals (Calvin Ayre, Stefan Matthews, and Dr.… Read More »There is no Satoshi conspiracy in Bitcoin SV

Code is not law

‘Code is law’ is a proud crypto proclamation. Some may even regard it as an inviolable creed. Few question it. But occasionally, some brave people do voice doubt. Here is an example: “Code is law,” the phrase, is a metaphor which is useful in terms of framing practical realities of the use of smart contract...

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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What CBDC?

Under the influence of buzzwords such as CBDC, crypto and blockchain, some people think that CBDC is a trivial technical problem, and only a matter of ‘incentivizing’ people’s adoption. While ‘incentivizing’ is a big part in adoption, CBDC does not have a trivial technical problem. It only seems to be so for superficial reasons. Good CBDC must be a genuine digital cash that has at least the following strong features: (1) extremely high scalability;(2) extremely… Read More »What CBDC?

Enterprises are starting to see the truth in blockchain

  In this post, Worldvest’s Garrett Krause shows admirable insights and steadfastness. The company made a move to tokenize gold on the Bitcoin SV blockchain. Tokenized gold is in itself a great move (see, for example, Gold is superior money, and tokenized gold is a superior currency). However, choosing the Bitcoin SV blockchain requires a different kind of knowledge. Very few can cut through the fog and thickets that currently exist in the cancerous crypto… Read More »Enterprises are starting to see the truth in blockchain

Gold is superior money, and tokenized gold is a superior currency

The famous gold advocate Peter Schiff has always claimed that BTC has no value. He is right. But he has started to see that gold can be tokenized on a capable blockchain. Tokenization on a proper blockchain is a form of digitization but has unique advantages over the traditional digitization of gold, such as gold...

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

This amicus brief for Coinbase is so wrong

Six securities law scholars file amicus brief in support of Coinbase. This report says the amicus brief is ‘devastating’, meaning that is overwhelmingly powerful. But it is devastating in an entirely different way. The amicus brief is incredibly wrong, factually, legally and morally. The main argument of the amicus brief is that, according to the securities law, an ‘investment contract’ requires an expectation in the income, profits, or assets of a business, but because these… Read More »This amicus brief for Coinbase is so wrong