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Why Bitcoin is Like an Ancient Zombie Virus
GM Bitcoiners, We can all let out a collective sigh of relief knowing that scientists have been doing their best to help protect humanity… ¯\_(ツ)_/¯ Apparently, researchers have collected ancient samples from 13 new pathogens (‘zombie viruses’) that are still infectious after being trapped under frozen ground for millennia. Isn’t that great? Ok, not really, […] More
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The Hidden Costs of Bad Money
GM Bitcoiners, ‘FREE!’ used to mean something in an offer, but now it’s often associated with scams or low quality. We’ve all realised that ‘free’ doesn’t equal good, and ‘cheap’ doesn’t equal quality. Something cheap will often be expensive in other ways – we’ve come to expect this now. If I receive a quote for […] More
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Orange Friday
GM Bitcoiners, It’s that day of the year… The day when people rush to get more stuff they probably don’t need. I must confess that I’ll be joining the rush for the sake of Christmas presents (it turns out my family don’t like being given Bitcoin-related gifts)… but my buying habits have changed massively since […] More
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Bitcoin Volatility Is A Feature, Not A Bug
GM Bitcoiners, “How can Bitcoin be a currency if it’s SOOOO volatile?!?!?!?!” This is a common criticism of why Bitcoin can’t succeed. After all, compared to the stable *cough, cough* dollar, you can’t price anything in Bitcoin! *Stable US Dollar* For starters, we’re collectively building out a decentralised currency from NOTHING. How do you think […] More
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in Articles
Bitcoin’s Third Layer — Fedimint
Peeling the Onion: The Third Layer. (kind of…) Bitcoin’s popular second-layer network, Lightning, has drastically expanded Bitcoin’s functionality by making some clever trade-offs to achieve faster, cheaper and more scalable transactions. People often get confused by the idea of “layer two” Bitcoin solutions, not just because they were never aware of a “layer one” existing […] More
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Crypto is Just a Worse Version of an Existing System
GM Bitcoiners, The crypto world has always piggy-backed on Bitcoin’s mission and reason for existing, and so they always harp on about… Decentralisation Freedom Choice Innovation Revolution Bla, bla, bla… the metaverse, NFTs, DeFi, and everything else is marketed as part of this adventurous journey, as implied through ads such as this… In reality, the […] More
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Hodling When It Hurts The Most…
GM Bitcoiners, Bitcoin is unlike anything we’ve ever seen… We’re watching decentralised money being built from the ground up. A system that never sleeps and continues to beat every 10 minutes. It’s also volatile like nothing we’ve ever seen. This is partially because of the stage we’re at in the Bitcoin lifecycle. For something to […] More
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Stop Trying To Predict The Price Of Bitcoin
GM Bitcoiners, Not so long ago, Bitcoiners were getting excited for a 100k party on Michael Saylor’s yacht. It seemed so close, and Bitcoin even reached an all-time high… but it wasn’t to be. If you stretch out the time frame, the rise of Bitcoin seems obvious to most of us… It’s a one-time invention […] More
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“It Begins.” – NY Fed Makes Move With Digital Dollar Pilot
GM Bitcoiners, Amidst government bigwigs hanging out with the WEF at the G20 summit in Bali, and WWIII talk trending on Twitter, cogs are turning in the US… This 12-week program will work with banking institutions such as HSBC, Mastercard, Wells Fargo and more to test the viability of a CBDC (central bank digital currency). […] More
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Building on Bitcoin – Latest Developments
Why not build on Ethereum etc.? In my last article, “Why Proof-of-Stake Doesn’t Work”, I went over some of the main reasons why the new engine driving Ethereum defeats its own purpose by pegging the security of the network to the price of the token it produces. Without going into too much detail, here’s the […] More
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The Good, The Bad And The Crypto Rug Pulls…
GM Bitcoiners, Working in a Bitcoin-only company, this has been part of my ongoing daily interactions with people regarding the latest crypto controversy… Who could have seen this coming? Certainly not many of the biggest financial gurus on YouTube… And certainly not the many other ‘influencers’ that were pushing users to crypto trading and interest […] More
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in Articles
Why Proof-of-Stake Doesn’t Work (Ethereum is Useless)
Proof of Stake: The Free Lunch In this article, I’m going to delve into the topic of Proof-of-Stake on Ethereum and explore whether or not it is a viable alternative to Proof-of-Work, the consensus mechanism used in Bitcoin. As it turns out, Ethereum is broken. But how is it that cryptos such as Ethereum so […] More
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