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Bitcoin & Blockchain

BSV’s surging transaction capacity is a pain to the crypto world

It seems that every time when BSV shows dominating transaction volumes, bitinfocharts.com is put in a very uncomfortable position. In fact, the trouble must be so great that they would remove BSV from the chart temporarily until the storm abates. What you see on bitinfocharts is a reflection of the whole crypto world’s mood about BSV. The crypto industry is a casino and a cartel The crypto industry is a casino, and casinos cannot tolerate… Read More »BSV’s surging transaction capacity is a pain to the crypto world

The tokenized Internet

People’s mindset about NFT today is still that an NFT is some kind of an artifact one can look at, speculate and trade. But think broadly. Think about a future in which every ‘datum’ or ‘monad’, namely a unit of data or a data entity is represented by an NFT. This is not for the sake...

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

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The question of ‘offering’ in the securities law

Ripple CEO Brad Garlinghouse (@bgarlinghouse) tweeted: Mr. Garlinghouse misconstrued the statement in the ruling. Although the judge in the XRP case clearly misapplied the law, the statement quoted from the summary judgment is actually a good statement, if not misconstrued. Note that the statement is true for any asset, not just XRP. In the securities law, the focus is on the ‘offering’ not the ‘asset in and of itself’. It is a particular manner of… Read More »The question of ‘offering’ in the securities law

The XRP judge got the securities law wrong

What the judge in the Ripple (XRP) case said in the summary judgment is essentially the following: (1) selling XRP tokens to institutional buyers constituted a sale of unregistered securities because the institutional buyers would have understood what Ripple was promising and doing, (2) but selling XRP tokens to the public (the so-called programmatic sales) did not constitute a sale of unregistered securities because the public was too stupid to understand what Ripple was promising… Read More »The XRP judge got the securities law wrong

Blockchain and HTTP/S

The Hypertext Transfer Protocol (HTTP) and its encrypted extension Hypertext Transfer Protocol Secure (HTTPS), collectively HTTP/S, is an application layer protocol in the Internet Protocol (IP) suite which is the base protocol layer of the Internet. More precisely, it is a linking layer placed between the top application layer and the base protocol layer. HTTP/S...

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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Why are bills of lading still on paper?

Bills of lading are traditionally paper-based documents used in international trade and shipping to establish proof of the contract of carriage, receipt of goods, and ownership of the goods being transported. While digitalization has transformed many aspects of the business world, bills of lading have remained predominantly paper-based. It is estimated that 25 billion paper...

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 locked protocol

“The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.” — Satoshi Nakamoto, June 17, 2010.

One of the distinctions that BSV blockchain makes in comparison to BTC is that BSV has a 'locked protocol' that represents the original Bitcoin.

What does ‘locked protocol’ mean? Does it mean that the Bitcoin blockchain allows no new software development? Of course not.

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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Crypto exchanges convert crypto assets into unregistered security offerings

The crypto exchanges convert a crypto asset into unregistered security offerings even if the asset is not such a security already. This is due to primarily the following reasons: (1) the completely centralized nature of these crypto exchanges; (2) the predominantly off-chain transaction environment created by the crypto exchanges. Most crypto assets are already securities due to the way they were created, issued, and mined. See even BTC has become a security. But even if… Read More »Crypto exchanges convert crypto assets into unregistered security offerings

Decentralized systems and human creativity and corruptibility

An ideal decentralized system can be divided into three layers, namely: (1) a base ‘core-purpose layer’, (2) a middle ‘rule-enforcement layer’ and (3) a top ‘application-execution layer’. This general model is applicable to all systems including human organizations, joint cognitive systems, technological systems and natural systems. For example, in a joint cognitive system, the core...

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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Why data ownership must be decentralized – the path to decentralized human capitalism

I’m worried about mass corruption as well as central control. The former is a Huxleyan dystopia while the latter an Orwellian dystopia. See: The two dimensional Orwellian / Huxleyan vector space. Today, when the issue of centralized data is discussed, privacy is usually the focus of the concern. But the reason why centralized data 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