Read_567 – Revenge of the Nodes – Part 2 – 21st Century Autonomy [Aaron Segal]
“Not only is the world experiencing greater dispersion of outcomes, it is also changing at an increasingly faster pace. Raw data is pouring torrentially down upon us, overwhelming our neural capacity more each day. We are confused, overwhelmed and looking for anchors, answers, and authority.” – Aaron Segal
Continuing with Part 2 of yesterday’s amazing Bitcoin Magazine piece on the major trends of today, the inevitably of the race to zero volatility, the incentives that will lead to infinite fragility, and why the only correction must come from outside the system. The only external force to an ever centralizing system, is one of complete decentralization. This is part 2 of a 2 part read, don’t forget to listen to Part 1 before diving in.
Check out the original at the link below, with tons of excellent data and graphics accompanying it that help give the magnitude of the situation we find ourselves in:
https://bitcoinmagazine.com/markets/bitcoin-is-driving-autonomy-over-authority
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Read_566 – Revenge of the Nodes – Part 1 – 20th Century Authoritarianism… [Aaron Segal]
“The individual investor is professionalizing at the end of one of the biggest, most Homeric blow-out parties of all time. Forgive the cliched baseball metaphor, but this is like a player being called up from the minor leagues right before the off-season, after a seven-game dramatic World Series finale.” – Aaron Segal
An incredible piece today from Bitcoin Magazine on the major trends of today, the growing and centralization of all markets, and the fall of freed markets to the 20th century institutions of authority. This is part 1 of 2 in a brilliant perspective on the state of the world and economy, and where Bitcoin fits into it all.
Check out the original at the link below, with tons of excellent data and graphics accompanying it that help give the magnitude of the situation we find ourselves in:
https://bitcoinmagazine.com/markets/bitcoin-is-driving-autonomy-over-authority
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Only the Strong Survive – Full Audio
“In this piece we discuss our concerns around the broader “crypto” space beyond Bitcoin. Our arguments revolve around three primary themes: Philosophical, Technical, and Economic. From a philosophical perspective, we discuss the core properties that make Bitcoin work and that make it unique, in our view. From a technical perspective, we evaluate how these properties are lacking to a greater or lesser extent in alternative “cryptoassets,” having been designed out again on questionable philosophical justifications. From an economic perspective, we walkthrough our concerns that “crypto” has not shown a path to establishing a basis for justifiable real-world value, explain why we believe this would be very difficult to ever accomplish, and suggest therefore that their technical flaws are especially vulnerable. Given the complexity of the task we have set ourselves, this piece is intended to bring our arguments into long form and provide a discussion base for good faith disagreement.” – Allen Farrington & Big Al
Section Summaries:
Part 1 – The Innovation From First Principles
Part 2 – Crypto is Not Decentralized
Part 3 – Crypto is Not Finance
Part 4 – The “Investment” Rationale
Part 5 – Layered Architecture and Gall’s Law
Part 6 – Why We Might Be Wrong
Find the original work and further details in the appendices here: https://www.uncerto.com/only-the-strong-survive
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Read_565 – Isaiah’s Job [Albert Jay Nock]
“The line of differentiation between the masses and the Remnant is set invariably by quality, not by circumstance. The Remnant are those who by force of intellect are able to apprehend these principles, and by force of character are able, at least measurably, to cleave to them. The masses are those who are unable to do either.” – Albert Jay Nock
Today we read an incredible piece posted in the Atlantic Monthly nearly a century ago, in 1936. Libertarian author Albert Jay Nock explains the nature of the masses, and of the Remnant. Why Isaiah the profit knew his message would not be received by the masses, why they did not have the force of character to live by it, & why it wouldn’t stop the ultimate collapse of society, but despite this, his message would serve the Remnant, and they would be those who built the world back from the rubble.
Check out the original at the link below, and explore other works by Albert Jay Nock
https://mises.org/library/isaiahs-job
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Read_564 – Only the Strong Survive – Part 3 [Allen Farrington & Big Al]
“As Gall’s Law suggests, we believe the general principle favoring Bitcoin’s layered architecture is not one of software engineering so much as engineering entirely in general, yet as elegantly applied to software.” – Only the Strong Survive
Listen to Part 1 if you haven’t yet! https://traffic.megaphone.fm/CSN7556187630.mp3?updated=1632359979
Part 2 https://traffic.megaphone.fm/CSN8589484720.mp3?updated=1632533362
Completing our journey through the incredible piece from Allen Farrington & Big Al, “Only the Strong Survive” with Part 3. Why “Crypto” is a violation of Gall’s Law, a fundamental philosophy of engineering all complex ecosystems and institutions, and why it’s very likely all that is actually valuable in Crypto, is likely to find its way on top of Bitcoin. Don’t miss the epic conclusion of “Only The Strong Survive.”
Follow Allen and Big Al for some top notch twitter experience and tons of other great work. Find more of their writing by exploring the audio library at BitcoinAudible.com
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Read_563 – Only the Strong Survive – Part 2 [Allen Farrington & Big Al]
“Lyn Alden captured this well in her excellent piece, An Economic Analysis of Ethereum, which we highly recommend in addition to our own. Similarly observing that there does seem to be a lot of “financial” activity on Ethereum, specifically: it’s what you would build if you were trying to replicate finance just by looking at it but not really understanding what the point of it all was”
Listen to Part 1 if you haven’t yet! https://traffic.megaphone.fm/CSN7556187630.mp3?updated=1632359979
Today we continue our journey through the incredible piece from Allen Farrington & Big Al, “Only the Strong Survive.” Today we dive deep into the logical reasons why “Crypto” is not actually finance, and what the fundamental errors are made in the investment rationale. Part 3 is on the way, so don’t forget to subscribe!
Follow Allen and Big Al for some top notch twitter experience and tons of other great work. Find more of their writing by exploring the audio library at BitcoinAudible.com
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Read_562 – Only the Strong Survive – Part 1 [Allen Farrington & Big Al]
“The consensus is what matters. The breakthrough of proof-of-work and the difficulty adjustment is far more about harnessing energy and existing communications infrastructure to calibrate incentives than it has to do with computation. Computation is a tool that makes the process more efficient and reliable, but Bitcoin is not itself a ‘computer.'”
We start our dive into the incredible piece from Allen Farrington & Big Al, on the complete philosophical, technical, & social case for the uncertain long term value in “Crypto” beyond Bitcoin. Starting with section 1 on the true innovation of Bitcoin, and section 2 on why “Crypto” is not actually decentralized. 2 More Parts coming later this week so don’t forget to subscribe!
Follow Allen and Big Al for some top notch twitter experience and tons of other great work. Find more of their writing by exploring the audio library at BitcoinAudible.com
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Read_561 – The Village and the Strongman [Alex Gladstein]
“Sandwiched between Guatemala and Honduras, El Salvador — the smallest and most densely populated country in Central America, with an average GDP per capita of around $3,500 — is a most unlikely ground zero for a financial revolution.” – Alex Gladstein
Gladstein is back with the full story of Bitcoin and El Salvador. What it’s like on the ground, the people it all started with, the responsibility we have as a community, & the history that gives much needed perspective to the actions of the political regime. You don’t want to miss this one.
Check out the original article and tons of other incredible work by Gladstein & others at Bitcoin Magazine:
https://bitcoinmagazine.com/culture/the-polarity-of-bitcoin-in-el-salvador
Endless thanks to Bitcoin Magazine and the LTB Network for the incredible content they bring to the Bitcoin ecosystem.
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Read_560 – The Schumpeterian Bitcoin Cycle [Prateek Goorha]
“Schumpeter would have loved Bitcoin. He would have seen in Bitcoin a living representation of his theory of capitalism, so often quoted but rarely understood. Creative destruction is the process by which capitalism continually rejuvenates itself. It is what drives markets forwards, constantly being refreshed with new ideas that destroy extant structures and erect better ones in their stead.” – Prateek Goorha & Andy Edstrom
Today we are digging into the evolution of the economy and the cycles of creative destruction that the most significant innovations create in the economic order. What is Bitcoin in this view, and how might these cycles map onto of the cycles within the Bitcoin system itself?
Check out the article, plus the others mentioned in today’s episode for further exploring the cycles of Bitcoin, innovation, and society:
The Schumpeterian Bitcoin Cycle:
https://goorha.medium.com/the-schumpeterian-bitcoin-cycle-e79543443bdf
Bitcoin and the Rhythms of History – By Brandon Quittem:
https://bitcoinaudible.com/bitcoin-and-the-rhythms-of-history/
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Read_559 – The Dollar Burden & Why the US Will Adopt Bitcoin [Ansel Lindner]
“we often hear the U.S. dollar called an “exorbitant privilege.” Namely, that the U.S. benefits disproportionately from the dollar’s reserve currency status. This article will detail why the current financial system has, in fact, been a burden on the United States, why the fiat dollar system is ending and what that means for the future of Bitcoin.” – Ansel Lindner
What if the dollar fiat reserve system isn’t actually a great privilege, but is actually a burden that wears on the US success and growth? What if the best path forward to renew US growth and its importance in the global economy, was to adopt a Bitcoin standard? Don’t miss another great Bitcoin Magazine read, this one from Ansel Lindner.
Check out the original article below, plus tons of other great works at Bitcoin Magazine:
https://bitcoinmagazine.com/markets/how-bitcoin-could-replace-the-u-s-dollar
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Read_558 – Why Bitcoin, The Full Series Audiobook [Tomer Strolight]
“For those with the curiosity to look, Bitcoin has emerged as a vast and mysterious space to explore, with treasures, dangers and untold potential. And similar to the Statue of Liberty’s beautiful but no longer true invitation, bitcoin beckons those who are tired, poor and yearning to breathe free to enter its realm and bask in the light of its gifts.” – Tomer Strolight
Why choose Bitcoin? Why Bitcoin is the new frontier. Why and how Bitcoin uses energy. Why everything that should hurt Bitcoin, only makes it stronger. Why Bitcoin is so much more than money. Why Bitcoin will end the worst heist in history, & 20 other amazing chapters in this incredible series by Tomer Strolight, covering so many different perspectives of Bitcoin. See and understand this incredible new technology from every angle imaginable, and find the answer to why Bitcoin?
Check out the full book PDF available at Swan Bitcoin below:
swanbitcoin.com/whybitcoin
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Read_557 – The Stairway to Omnipresence [DerGigi]
“the fact that bitcoin is now legal tender in a country is absolutely astonishing. Yesterday, some nerds discovered a system that allows magic internet money to emerge by sending messages back and forth. Today, a country decided to adopt this system as their currency” – DerGigi
Today we cover an excellent little piece from DerGigi that takes a step back and puts the news of legal tender in El Salvador into perspective. This isn’t just another bullet point, this is a key step in the realization of a global, open monetary system. This is a major more toward a Bitcoin Standard. Listen to find out more.
Check out all the incredible work by DerGigi and follow him at DerGigi.com:
https://dergigi.com/2021/09/09/moving-towards-a-bitcoin-standard/
Plus the threads covered in the Guy’s Take from BitcoinBeach linked below:
https://twitter.com/Bitcoinbeach/status/1434520062208118785?s=20
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