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Crypto and systemic bubbles

The most spectacular bubbles depend on both an expanding and a squeezing effect. The former attracts participants by taking advantage of people’s nearsightedness and greed, but the latter forces out dissenters and opponents. The former is usually well understood, but the latter is not. It is a systemic effect. In order for the squeezing to become effective, participants must be placed in a system that has a large effect on their survival. The effect can… Read More »Crypto and systemic bubbles

AI and data decentralization

In the current AI development, Meta comes out competing on a different principle: opensourcing AI. Some worry that opensourcing AI would enable illicit actors (both state and private actors) to do harm. I have not formed an opinion about Meta’s open-sourcing AI, but this pushing back with a comparison between bioweapons and AI is dubious at best.  When it comes to physical weapons, decentralization is proliferation.   You get bombed not because you agreed with the bomb but… Read More »AI and data decentralization

A nonproductive blockchain can’t solve the fiat problem

The two main points I try to make in Volume 1 of the book BIT & COIN: Merging Digitality and Physicality are: Both of the above require a vastly scalable blockchain with TPS beyond millions and an extremely low Cost Of Transaction (CoT). According to Satoshi’s vision, the Bitcoin blockchain was meant to achieve exactly these. But 15 years later, we have BTC doing 7 TPS while promoting an open Ponzi scheme. Worse, people have been… Read More »A nonproductive blockchain can’t solve the fiat problem

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

Bayesian probabilities and evidence

The COPA v. Wright trial ended on March 14, 2024. Judge Mellor made an oral statement at the closing of the trial that was quite shocking, especially for people who supported Dr. Wright or were neutral. See Judge’s declaration in COPA v. Wright. Although people could have misunderstood what the judge said, if the written judgment confirms the judge’s declaration that Dr. Wright is not Satoshi, I’ll give due respect to the judgment unless an… Read More »Bayesian probabilities and evidence

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 battle on earth

What are we really dealing with now? In the words of RDN @rdnxyz, it is not a technological problem, a cultural problem, a mental problem, an economic problem, or a political problem. “We are in the midst of a Religious conflict.” I agree, except that I would call it “Spiritual conflict” rather than “Religious conflict”. Everything is ultimately spiritual. The visible (physical) is temporal, but the invisible (spiritual) is eternal (2 Corinthians 4:18). Man is… Read More »The battle on earth

TimeChain that preserves humanity in digital age

It is ironic, but fatefully unsurprising: Satoshi’s own identity case proves how important his invention is. In COPA v. Wright, British High Court Judge Mellor declared, before issuing a final written judgment, that Dr. Craig S. Wright is not Satoshi, the inventor of Bitcoin. Based on the evidence presented in the trial, the judge must have been persuaded by the allegations of forgery. This proves that the COPA strategy has worked. Logic dictates that using… Read More »TimeChain that preserves humanity in digital age

BTC is more corrupt than fiat

“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 »BTC is more corrupt than fiat

Is Bitcoin’s Merkle tree a binary search tree?

Is Bitcoin’s Merkle tree a binary search tree? Dr. Wright says Bitcoin’s Merkle tree is a binary search tree (BST). BTC devs disagree and question his qualifications. The questioning by BTC and Dr. Wright’s answers show a typical example of Dr. Wright talking about it at a level and depth that others haven’t thought of. Ironically, some even question Dr. Wright’s understanding of technology at the undergraduate level, not in spite of this but because… Read More »Is Bitcoin’s Merkle tree a binary search tree?