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Digital Ownership – Is Bitcoin Real?
Ownership is a concept that requires the presence of intersubjective consensus; I own this car because that piece of paper says that I do, and the justice system believes in this piece of paper, and society believes in the justice system. Ownership is just the result of a series of cascading agreements. It’s a participatory […] More
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in Articles
Bitcoin: How Big Can It Get?
Bitcoin is huge already, right? I mean, just look at how much its price has increased in the past decade! Well, sure, its value has increased a bunch since its inception, but when you start at zero, any increase leaves you infinitely bigger, so of course, Bitcoin feels huge to most people already… but that […] More
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For Your Protection, and Other Censorship Lies
What are censorship lies? You have three mice in a maze; their goal is to escape. The concept of this game is intuitively understandable because we all play it every day, more or less. The mice’s prerogative is as follows: Explore falsity (incorrect paths, dead ends etc) to discover the truth (the correct path) Let […] More
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Why We’re Still Bullish on Bitcoin
It’s that time of the year again… I’m not talking about Christmas; I’m talking about the time when concerned family and friends hear of the latest crypto scam and text you to ask if your Bitcoin is okay. Yes… yes, it is. See, this wouldn’t be particularly infuriating if it weren’t for the fact that, […] More
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Bitcoin Adoption – The Language Barrier (pt.1)
There are many barriers between Bitcoin and its mass adoption. One such barrier is understanding. Understanding Bitcoin is not an easy task because it’s not just a case of memorising propositions; it’s more a case of formulating a perspective that results from the intermingling of many understandings. The recency of Bitcoin’s invention has caused many […] More
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Explaining Mining – The Filing Cabinet Method (pt.2)
In the previous article, we talked about some potential hurdles to Bitcoin adoption in the language barrier and explored a potential way we could remedy the problem. We talked about he filing cabinet method, a way of employing metaphors to pull from pre-existing mental resources rather than asking the learner to create an entirely new […] More
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Bitcoin’s Energy Usage
If you want to know how much energy the entire Bitcoin network uses, a quick google search will enlighten you before you can break a sweat. It’s currently about 96 terawatt-hours per year, according to this Cambridge university index (https://ccaf.io/cbeci/index). This is because Bitcoin is immensely transparent about its energy usage; since the blockchain is […] More
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in Articles
The Importance of Separating Bitcoin from Crypto
Separating Bitcoin from crypto is very important. In this article I aim to explore some of the reasons, starting from the beginning. Bitcoin was not easy to create. Many attempts at creating peer-to-peer digital cash were made before Bitcoin arrived on the scene, and none succeeded. It was like a game of technological whack-a-mole; for […] More
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in Articles, Blog, Uncategorized
Bitcoin is a Bad Investment
Jeremy invests in many things, often unsuccessfully. Becoming increasingly unenthused, Jeremy looks for something a little outside the parameters of ‘traditional’ investments. He hears that Bitcoin is changing the foundations of the monetary system and has been the best-performing asset of the past decade. At this moment, Jeremy committed to the infamous ‘aping in’. He […] More
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in Blog
Bitcoin Basics – Why Bitcoin only?
If you haven’t already figured out the answer to ‘why Bitcoin only?‘ then chances are you’re still enamoured by the exciting promises of crypto and blockchain. Don’t blame yourself, most of us have been there and painfully learnt the lessons, often called the ‘entry fee’. Whether it be the thought of the benefits brought to […] More
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in Articles
Bitcoin FUD: The 5 Biggest Causes
FUD stands for Fear, Uncertainty and Doubt. The term is used to describe the types of things that are likely to cause panic in the market. The 5 biggest causes of Bitcoin FUD change all the time; for instance, one primary attack vector against the name of Bitcoin over the past five years has been […] More
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BlackRock Bets on Bitcoin!™
BlackRock, oh BlackRock. The king of the game. Here’s a fun trick: name any of the world’s largest companies and google their largest shareholders. I guarantee you will find BlackRock sitting comfortably in the top 10 almost every time. It’s the largest asset manager in the world, and they just put Bitcoin centre-scope. ‘BlackRock bets […] 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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“Decentralised Finance” and other lies…
Decentralised finance has been all the hype for the past couple of years now. Why? I won’t say it’s because people are stupid—as much fun as that would be—but rather because of heuristics. The lie of Decentralised Finance Heuristics are these little psychological tricks we use to understand reality while putting minimal brain effort into […] 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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Is Bitcoin Evil? Indifferent money explained.
Indifferent money explained Epictetus was a first-century man. Acquired at birth, he spent most of his years as a slave in Rome during the height of the roman empire. In fact, his name ‘Epictetus’ is not his birth name; it’s just greek for ‘acquired’. During his years as a slave, Epictetus developed a love for […] 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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in Articles
A Year in Bitcoin: 2022 Recapped.
An Eventful Year for Bitcoin Calling a year in Bitcoin ‘eventful’ is practically a yearly tradition. The space is moving so fast that each year is filled with news and developments… despite the headlines, this tends to go against the notion that Bitcoin is ‘dead’. Bitcoin is very much alive, and boy is it kicking, […] More
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in Articles
How to Buy Xmas Presents With Bitcoin
‘Tis the season to be hodling… but if there’s ever a time to spend your Bitcoin, it’s Christmas, and if you’re going to spend on your loved ones, doing it with Bitcoin will make the world a slightly better place. Adoption is important, and merchants are yet to find a good reason to begin accepting […] More
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in Articles
Bitcoin Doesn’t Have the Properties of Money
A pertinent theme of discussion amongst fellow Bitcoiners is the ‘six properties’ test. It goes something like this… the six properties of money are as follows: durability, portability, divisibility, uniformity, limited supply, and acceptability. If something has all six properties, it can be considered sound money. Paintings and Documents Now, let’s take a step back. […] 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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in Articles
The 5 Bitcoin Myths You Fell For
Bitcoin has intrinsic value Bitcoin is just another ‘crypto’. Bitcoin is useless Bitcoin is a threat to the environment Bitcoin wallets store Bitcoin Myth #1: Bitcoin has intrinsic value One of my favourite catchphrases of Bitcoin critics is “Bitcoin has no intrinsic value!”. After saying this, they will often continue on to blabber some […] More
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in Podcasts
BWJ 003: Nathan Smith – Investment Banker to Bitcoiner
In this episode Jake speaks with the Chief Compliance Officer at Freehold Capital, Nathan Smith. They chat about: – FastBitcoins and Freehold.Capital – Growing up in Country Victoria – Civil Engineering and Law at University – Life at Macquarie Bank – Risk analysis and mitigation – Fall out from the 08/09 financial crisis – Attractiveness […] More
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CBDCs – A Freedom Postmortem from 2050
Where the end begins The year is 2050, and freedom has been dead for some time. I’m not sure exactly when it died, but there’s one thing I know for sure: it is dead. To determine where exactly we went wrong and when exactly the last drop of freedom escaped the barrel, I’d like to […] More
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