Adventures and fascinations of Matt Pāz
The next installation of the incredible Gradually, Then Suddenly series of blog posts by Parker Lewis has been published. This post combats the ridiculous claim thrown by uninformed Intellectual Yet Idiots that Bitcoin is a pyramid (or Ponzi) scheme.
While the title of the post references pyramid schemes, the meat of the post amounts to a tour de force exposition of the price mechanism.… Read more
Last week, Hasu, James Prestwich, and Brandon Curtis released a research paper examining Bitcoin’s ability to function properly in an adversarial environment, A Model for Bitcoin’s Security and the Declining Block Subsidy.
In the paper, the authors introduce a model, which can be reduced to a simple formula, for assessing the Bitcoin protocol’s security based on a number of factors:
… Read moreWe can thus derive that EV(honest mining) EV(attack mining) is the necessary condition for Bitcoin to be secure against rational attackers.
This is an old article by Su Zhu and Hasu that I just stumbled across again. It’s a quick read and a good, high-level reminder (or primer) of why financial, geopolitical, and technological trends are in Bitcoin’s favor.
… Read moreBitcoin is a new financial network with a token (also called bitcoin but with a lowercase ‘b’) that is currently in its monetization phase.
I listen to a dozen or more Bitcoin podcasts every week. This was one of the best podcasts I’ve listened to in a while. With all the great podcast content available, that’s saying something.
Herein, Brady, host of the Citizen Bitcoin podcast, and Robert Breedlove discuss the ideas behind his great series of articles Money, Bitcoin, and Time, which I will discuss in another post later.… Read more
Here is the latest drop in the Gradually, Then Suddenly blog posts by Parker Lewis. This piece rebuts the common derision of nocoiners and others who do not understand Bitcoin, nor money, that “Bitcoin isn’t backed by anything.”
I have usually answered this critique with the response that Bitcoin is backed by the fundamental commodity of the universe, energy.… Read more