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Bitcoin & Blockchain

BTC + LN is worse than shared IPv4 addresses

BTC can handle no more than 7 transactions per second (TPS). Lightning Network (LN) promises to solve the problem. The theory is that normal transactions would only happen in LN, but can get settled on BTC chain occasionally. Other than the fact that Lightning Network does not work, just a little bit of math would...

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 Economics of Bitcoin Mining

While the world seems to be fixing its eyes on the bitcoin price charts, I watch a simple and mundane number: The per block ‘transaction fee/subsidy’ ratio on Bitcoin blockchain. The fees/subsidy ratio is the most significant bitcoin chart to look at, because it is signaling the future. Why is this important? Because this 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

The DDD (Detrimental Dollar Dominance) Syndrome

Contrary to what most people think, the dollar dominance in the long term is not good for the US as a nation and the American people as a whole. First of all, the dollar dominance does not benefit the US evenly. It mostly benefits the financial sector, at the expense of industries, especially manufacturing. Secondly, the dollar dominance relies on the US ‘consuming‘ (i.e. depleting) its national strength without sufficient reproduction. On top of that,… Read More »The DDD (Detrimental Dollar Dominance) Syndrome

Technological unification & power decentralization

The idea of a unified blockchain causes anxiety or even antagonism. There is much misunderstanding in this matter, often confusing matters of different nature, such as the philosophical, political, economic and technological. The misunderstanding about technological unification and power centralization runs deep and wide in the crypto world, and is one of the most important...

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

Should bitcoin tokens unite onto Ordinals?

After all these years, someone finally figured out how to do satoshi-based tokens on BTC: the ordinals, each based on a single satoshi and defined by an inclusion of a chunk of data (say a small image). A miner ‘mines’ ordinals (tokens) using a special add-on mining software designed according to a token protocol that defines the ordinals as distinctive tokens. The process of including a chunk of data is called ‘inscription’, likened to inscribing… Read More »Should bitcoin tokens unite onto Ordinals?

IPv6 adoption and its killer app

In this video, Dr. Craig S. Wright and Prof. Latif Ladid talk about Integrating IPv6 and blockchain at the TCP/IP layer. Being the president of the global IPv6 Forum, chairman of the IEEE COMSOC IoT subcommittee, and chairman of IEEE COMSOC 5G subcommittee, Prof. Ladid knows about this from the inside out. In this brief...

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

Safe banking and fractional reserve banking

Caitlin Long has criticized the leveraged banking system. I think her criticism is spot on.  But as to the ‘safe bank’ solution Caitlin advocates, it is debatable.  At the same time, ‘over-capitalization’ is probably an oversimplistic criticism of safe bank model. Yes you can call the safe bank ‘overcapitalized’, but who is to decide? The options today range from the 100% capitalization of the safe bank model to the 3-10% capitalization of the existing banks. That’s… Read More »Safe banking and fractional reserve banking

Even BTC has become a security, but the original Bitcoin BSV remains a commodity

The crypto landscape has a defining characteristic: Most cryptos are unregistered securities, which are illegal the way they are promoted. They shouldn’t have existed, at least not in the current state. But they do. But how does such a world sustain itself? By hypocrisy. Here is a feature of the crypto hypocrisy: Facing the SEC, everyone wants to claim to be a commodity; facing the market, however, everyone wants to be a stock squared (better… Read More »Even BTC has become a security, but the original Bitcoin BSV remains a commodity

The real Bitcoin is green

The energy consumption of BTC mining has caused so much concern to the public that some are attempting to outlaw Proof-of-Work (PoW) mining altogether. But the energy consumption Is a problem with BTC, not with the real Bitcoin, Bitcoin Satoshi Vision (BSV). BTC is not the real Bitcoin according to the original Satoshi’s design. See...

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

Bitcoin and the quantum threat

Is Bitcoin quantum proof? With the anticipated (or more often imagined) rise of quantum computing, this is an often asked question. First of all, due to the yet-to-be-solved (perhaps even unsolvable) unscalable error correction problem and the peculiar algorithm of quantum computing, it is still unclear whether quantum computing will ever achieve scalable general computation....

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