Everybody needs Bitcoin, they just don't know it yet.
GM #plebchain, stay humble, stack bits/sats, focus on these virtues Courage, Justice, Temperance, Wisdom, and think for yourself. "Non scholae sed vitae discimus," my friend—a reminder that we learn not for school, but for life. Let this wisdom guide your actions today and beyond!
Owning a single complete bitcoin is rarer than being a millionaire in USD fiat currency.
GM #plebchain, stay humble, stack bits/sats, focus on these virtues Courage, Justice, Temperance, Wisdom, and think for yourself. BEGINNINGS ARE EVERYWHERE
GM #plebchain, stay humble, stack bits/sats, focus on these virtues Courage, Justice, Temperance, Wisdom, and think for yourself. "Quid nunc?" - What now? This simple phrase reminds us to stay focused and adaptable, ready to tackle whatever comes next.
What truly constitutes capital? How does Bitcoin challenge and redefine our conventional understanding of it? I'm revisiting an insightful article, Capital in the 21st Century by Allen Farrington, which dives into the nuanced relationship between money and capital—two ideas frequently mistaken as identical but actually quite different. Farrington argues persuasively that money is not wealth itself, but rather a claim on wealth, serving as a fluid means to assess the value of what we genuinely seek. Through this lens, he explores how Bitcoin transforms our comprehension of capital, entrepreneurship, and economic potential, drawing on perspectives from Austrian economics and other schools of thought. It's all too common to overlook the fundamental issues Bitcoin aims to address. This article cuts straight to the heart of those questions, offering clarity and depth. I’m delighted to revisit and share this piece. Capital in the 21st Century — Axiom
Axiom
Capital in the 21st Century — Axiom
Fixing the cost of capital is Bitcoin
“Not your keys, not your coins.” This cardinal rule hinges on the security provided by complex mathematics involving massive random numbers. Your cryptocurrency holdings remain safe because these numbers are theoretically impossible for others to predict or uncover. However, the advent of quantum computing poses a significant threat. Given enough computational power, a quantum-capable entity could potentially crack the cryptographic methods we rely on today. The concern here is whether we'll let early adopters of quantum technology — likely those who are already affluent and influential — exploit this advantage to compromise millions of BTC, thereby reshaping Bitcoin's economic landscape. Should this quantum threat be viewed as a critical vulnerability, akin to a software bug? Might there be a need to establish a timeline for phasing out older, vulnerable cryptographic signatures and invalidate compromised funds? The solution may be more intricate than it appears initially. In his article, Jameson Lopp presents a compelling argument on this very issue. Against Allowing Quantum Recovery of Bitcoin -- Jameson Lopp
Cypherpunk Cogitations
Against Allowing Quantum Recovery of Bitcoin
An argument in favor of burning bitcoin in vulnerable addresses to prevent funds from being taken by those who win the quantum computing race.
The power of Bitcoin stems from its essential characteristics: minimizing trust, decentralization, resistance to censorship, and beyond. Yet, precisely what underpins these principles and their significance remains a topic of exploration. Consider this insightful article titled “What Are the Key Properties of Bitcoin?”, which meticulously examines the core features that define Bitcoin. It also dives into current protocol discussions and looming challenges such as quantum computing. Grasping Bitcoin's fundamentals is not merely theoretical; it's crucial for understanding our present position and future trajectory in this evolving landscape. What are the Key Properties of Bitcoin? -- Jameson Lopp https://nakamoto.com/what-are-the-key-properties-of-bitcoin/
Fiat Currency is Monetary Socialism The U.S. Dollar Is Just Socialism With Extra Steps
The U.S. Dollar Is Just Socialism With Extra Steps | HackerNoon
100% capitalism is very hard. So we all are socialists who enjoy fiat currency and altcoin perks from our money printing lords.
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