Adventures and fascinations of Matt Pāz
Here is the next installment in Parker Lewis’ extraordinary Gradually, Then Suddenly series of blog posts.
This one is a home run. This might be the best explainer of Bitcoin proof-of-work I’ve seen, and, in particular, how miners operate in a game-theoretical equilibrium in which they are incentivized to cooperate by providing a security and transaction ordering/timestamping service to the network or suffer economic loss.… Read more
Here is the next installment of the Gradually, Then Suddenly series of articles/blog posts. If you haven’t read all of these articles yet, I’d recommend doing so immediately; they are an incredible educational resource.
In this article, Mr. Lewis delves into what is Quantitative Easing (QE), how QE distorts the pricing mechanism of an economy, why this creates economic instability, and how when the instability manifests in an economic crisis, the default central bank response is more QE(!).… Read more
We’ll take a quick pause from the Gradually, Then Suddenly articles to hit you with another great piece on the macroeconomic conundrum the world finds itself in written by a Bitcoin Wizard, James O’Beirne.
The thesis of this article is not new, but the message bears repeating.… Read more
Here is the next installation of Parker Lewis’s Gradually, Then Suddenly articles.
In this rip, Parker dismantles the popular misconception that Bitcoin is a failure as a medium of exchange. Anyone who has studied the matter properly knows that Bitcoin’s base layer protocol was never designed to compete with Visa to make payments for groceries or coffee.… Read more
Here is the fourth installment in Mr. Lewis’s epic series of articles, Gradually, Then Suddenly.
Since the early days of Bitcoin, there has been a constant stream of content deriding the network’s “wasteful” energy consumption. To begin, this argument is flawed: Bitcoin miners pay market rate for electricity consumed, which by definition means the energy is not wasted.… Read more