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Bitcoin & Blockchain

The myth of ‘Selfless Satoshi’

The ‘selfless Satoshi’ was a myth created by selfish people to serve their own purposes. Their purposes are very different from Satoshi’s purpose of serving the mankind as a whole. ‘Satoshi gave up all his rights on Bitcoin and gifted it all to us so that we can do whatever we want’ is the claim....

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 Digital Dollar Project

The Digital Dollar Project's Whitepaper 2.0 represents a progress in realizing that the US CBDC is not going to be a new kind of money, but just a new kind of currency. Money is value agreement, while currency is value transmission technology. See Money & Currency.

It is also good in making the distinction between a 'bearer instrument' and 'account-based credit money'.

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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Asset tokenization needs a global public blockchain as a universal registration system

According to the Boston Consulting Group (BCG), the tokenization of global illiquid assets is estimated to be a $16 trillion business opportunity by 2030, with tokenized financial assets, such as patents, representing $3 trillion of that business opportunity by 2030. See IPwe post on LinkedIn. Great opportunities lie ahead with tokenization of assets, and IPwe leads...

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 universe is a timechain – the quantum universal timeframe

In a paper recently published on SSRN, Dr. Craig S. Wright described a new theory (philosophy) of time which offers a separate quantum universal timeframe as well as an understanding of the universe as an information system. See the full paper by Dr. Craig S. Wright: The Philosophy of Time (39 Pages, 3 Oct 2022,...

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 does BTC futures surging despite FTX collapse tell you?

Forbes report: Despite FTX Collapse Bitcoin Futures Surge.

This is worse news upon bad news because it only highlights the problem in crypto. 

In any economy, there are always producers and traders, and they can be healthily symbiotic. But a collapse becomes a certainty when traders are trading on values that are solely created by trading itself (i.e., speculative value arising from speculative trading activities alone), instead of value producers who are independent economic actors.

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 corruption of crypto is unique

I already wrote about FTX and crypto exchanges in general (see, Crypto exchanges are an obstacle to blockchain and DLT). Mainly due to disgust, I try not to make more comments on FTX, but couldn't help because the story is being spun in directions that are away from the core truth.

This post on LinkedIn is an example: Sex, drugs, and leverage - Critics are wrong. Why the FTX story has nothing to do with crypto.

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

Crypto is an obstacle to blockchain and DLT

The crypto-inspired speculative assets trading on insecure exchanges is not what Bitcoin blockchain is meant to be and actually is (see, Bitcoin is not crypto).

The entire crypto world has become an irrational Ponzi-laden frenzy. The crypto industry went in the wrong direction long ago and went too far by turning the original Bitcoin, one of the greatest inventions ever, into a multitrillion-dollar gambling of speculations over other people’s speculations.

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

Payment must change – credit card is a systemic ripoff

Of the transformations enabled by Bitcoin, payment especially micropayment is of the most basic one. It is evident even from the Bitcoin’s whitepaper’s title: Bitcoin: a Peer-To-Peer Electronic Cash System. Payment is not a mere app added on the web, but a foundational part of the New Internet. However, more than 14 years after the creation...

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

SEC helps true innovation by enforcing securities law

Is SEC harming crypto by enforcing the securities laws? Short answer: it may harm crypto but will advance blockchain. It deters criminal behavior and promotes true innovation. The SEC actions may have an impact on the cryptocurrency industry as it stands now, but in a longer term will clear up the air for better technologies and products to be developed and grow.  Case in point A US federal judge of a District Court in New… Read More »SEC helps true innovation by enforcing securities law

The Wright strategy is the Satoshi strategy -Why doesn’t he just sign it?

If Craig Wright is Satoshi, why doesn’t he just sign it? “Sign it” specifically refers to signing with a private key of a bitcoin address that is publicly known to belong to Satoshi, such as the mining reward address of block-9 involved in the famous ‘Satoshi-Finney transaction’ (also it’s almost certain that Satoshi mined 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