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News & Quotes

news, quick posts, messages.

Discovering the real blockchain

Behrad Babaee, a technology evangelist in Aerospike, writes about why he changed his mind about blockchain: Why I Changed My Mind About Blockchain – The New Stack The article gives insights on database scalability and how a scalable blockchain like BSV solves the problem. The good news is that top IT system architects in the world aren’t fooled by the crypto schemes. They even rightfully despise it. But the bad news is that they don’t… Read More »Discovering the real blockchain

Universal Blockchain Assets

Dr. Owen Vaughan of nChain has published and presented his work on Universal Blockchain Assets. The Universal Blockchain Assets (UBA) is a novel protocol for issuing and transferring tokens across blockchains without the need for a trusted third party or cross-chain bridge. In the UBA scheme, the blockchain is used for double-spend protection only, while the authorization of token transfers is performed off-chain. Due to the universality of the approach, it works in almost all blockchain… Read More »Universal Blockchain Assets

Bitcoin, decentralization and distributed computing

I don’t understand celebrating a tiny database & nodes…🤷‍♀️ I want peer-2-peer electronic cash. Scaling matters. Robin deLisser on LinkedIn Robin is right.  Scaling matters. Scaling isn’t a mere quantitative advantage in that more of the same stuff is done, but more importantly a qualitative advantage because it enables new things that couldn’t be done without the scale. See The Structural Impact of The Cost of Transaction (CoT). Regarding distributed computing, the decentralization of the… Read More »Bitcoin, decentralization and distributed computing

Judge’s declaration in COPA v. Wright

At the end of the COPA v. Wright trial on March 14, 2024, Judge Mellor made the following oral statement: I thank all the parties for their written closing and oral arguments, and they’ve been very helpful indeed. They will require me to prepare a fairly lengthy written judgment, which will be handed down in due course. And for all those who have already been hassling my clerk as to when the judgment will be… Read More »Judge’s declaration in COPA v. Wright

The price is just a symbol

In this post, the author accuses SEC of committing a crime for causing a drop in stock price. People who do this assume that stock prices must be protected as if they were a value in themselves. That is wrong. It is a good example of what’s wrong with today’s financial industry as a whole. It confuses symbols with reality and price with value. A temporary drop in stock prices is not a destruction of… Read More »The price is just a symbol

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:

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Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
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Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
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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

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

Memes are a hack to humanity

Elon Musk tweeted today: The man who is in power enjoys a play. But memes are a hack to humanity. It is one thing to suffer the hacking, it is quite another to actively participate in it and even leverage it using power. While I appreciate Elon’s insights and candidness, his perspective of seeing everything as an entertaining game undermines the values he promotes (even though he clearly thinks that it’s a clever power-play on… Read More »Memes are a hack to humanity

Is BSV correctly priced?

Joshua Hensley recently wrote, ‘BSV is correctly priced‘. If the large-scale utility promised by the real Bitcoin BSV never materializes, then I agree that BSV is correctly priced at present. But ‘correctly priced’ and ‘fairly priced’ are not the same thing. Measured by the fundamentals based on real utility, while BSV may be ‘correctly’ priced, other coins are overpriced by at least 1000 times collectively. There is a system working behind the crypto world. It… Read More »Is BSV correctly priced?