Guy’s Take_016 – Drama, Drama, Toxic Drama
Curious about all the #BitcoinTwitter buzz recently? I went digging to find the associated twitter threads & comments to read, and then discuss my own take on all the drama.
Too long; Didn’t Listen –
• Don’t be a jerk.
• We aren’t responsible for other people’s feelings.
• If you have to choose between making someone uncomfortable & telling them what you believe to be true, speak the truth.
• Open discourse, no matter how “toxic,” is preferable to back room political fighting.
• These are the consequences of freedom of speech.
The threads in question, plus one I only found after recording the episode (unfortunately) by @TheBlueMatt that’s related to the discussion.
@soonaorlater (Soona)
https://twitter.com/soonaorlater/status/1131985122238971904
@nwoodfine (Neil Woodfine)
https://twitter.com/nwoodfine/status/1132138203769581568
@TheBlueMatt (Matt Corallo)
https://twitter.com/TheBlueMatt/status/1133040768531214338
https://twitter.com/TheBlueMatt/status/988835275605504000
@Excellion (Samson Mow)
https://twitter.com/Excellion/status/1133656769538904065
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Read_253 – The Magic Dust of Cryptography [dergigi]
Exploring the magic of cryptography using a magic hammer, gray dust, a magic potion, & a pair of very special pajama pants.
Don’t miss another read from @Dergigi on the absolute magic of cryptography and how it will utterly change everything we think we know about the world. We are entering a new era of human civilization. Pay close attention, the world will never be the same again.
Check out the other work (plus fun graphics & comics) & amazing collection of work we will be revisiting soon on the show, over at dergigi.com:
https://dergigi.com/2018/08/17/the-magic-dust-of-cryptography/
If you prefer Medium, be sure to drop some applause on this article:
https://medium.com/@dergigi/the-magic-dust-of-cryptography-c8ecd79ae13a
The episode of @CitizenBitcoin mentioned in the show interviewing @dergigi:
https://citizenbitcoin.world/episodes/gigi-21-lessons-from-down-the-bitcoin
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Guy’s Take_015 – The Bcash 51% Attack
In a crazy conversation from last night’s meet-up, I learned of discussion of a purposeful re-org, a 51% attack, on the #BCH chain by 2 miners. After a few hours scrambling to pull details together this morning, this is what I’ve discovered so far. Don’t miss this Guy’s Take episode all about the #Bcash 51% attack!
These are the links to the conversations and posts that I found relevant information at:
https://honest.cash/kiarahpromise/sigop-counting-4528
Article on hash power dominance of BTC.TOP:
https://bitcoinexchangeguide.com/is-bitcoin-cash-under-a-51-percent-attack-as-one-bch-mining-pool-nears-over-half-control/
Reddit Threads:
https://www.reddit.com/r/btc/comments/bpwlgx/got_this_in_my_inbox_a_couple_of_minutes_back/
https://www.reddit.com/r/btc/comments/bq6g5h/so_does_this_mean_that_we_unintentionally_killed/
https://www.reddit.com/r/btc/comments/boysr1/bch_upgrade_postmortem/
https://www.reddit.com/r/btc/comments/bqah5p/psa_everybody_stay_alert_im_getting_a_bch/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reddit%2Fpreh+%28Bitcoin+-+The+Internet+of+Money%29
Found after I finished recording the episode (will update with details in the next show):
https://honest.cash/Cheshire_Cat/bitcoin-cash-guardians-and-pirates-in-sight-3334
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Read_252 – Bitcoin’s Security is Fine [Dan Held]
Is Bitcoin’s security going to be unreliable, volatile, or could it even fail entirely when we lose the block subsidy? Or is #Bitcoin set to operate smoothly with a natural transition from newly minted bitcoin, to transaction fees? Exploring the security of Bitcoin in the next economic era, with Dan Held’s amazing piece, “Bitcoin’s Security is Fine.”
Don’t forget to check out Dan Held’s other work, the amazing set of links throughout the article, and drop some applause below:
https://blog.picks.co/bitcoins-security-is-fine-93391d9b61a8
Don’t forget to check out Dan’s Held’s asset management company, Interchange.
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Read_251 – Use of Knowledge in Society [Part 2 – F. A. Hayek]
The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world. Don’t miss the conclusion of Hayek’s work, “The Use of Knowledge in Society.”
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0
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Read_250 – Use of Knowledge in Society [Part 1 – F. A. Hayek]
Is the idea of a central decision maker for the economy just a problem of gathering all the right information and having the most intelligent in control? Or is there a far more fundamental problem with the entire notion?
Continuing our #Bitcoin economics week, today we dive into a piece on a concept we haven’t yet covered. What is the true nature of the knowledge involved in economic activity, and how do we utilize that knowledge to solve the problem of economic organization? A brilliant work by F.A. Hayek and made available by the amazing team over at FEE.org, we cover and expand on Hayek’s “Use of Knowledge in Society.”
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0
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Read_249 – Bitcoin Has No Intrinsic Value, & That’s Great! [Conner Brown]
Diving into a great piece by Conner Brown exploring the subjectivity of value, and why Bitcoin’s lack of “intrinsic value” is a benefit, not a hinderance. Does this aspect of Bitcoin, and the nature of money align with history? Does it challenge great economic thinkers & their theories? Or is it a natural next step in the growing possibilities of the digital world? Don’t miss a fun episode starting off another week on Bitcoin economics!
Dont forget to follow Conner Brown on Twitter and explore his other work on Medium. Drop some major applause for this excellent piece at the link below:
https://medium.com/@connerjbrown1/bitcoin-has-no-intrinsic-value-and-thats-great-e6994adbfe0f
And a reminder to donate if you would like to contribute to the “Bitcoin Attackers Wiki” bounty being organized by JW Weatherman here:
https://twitter.com/JWWeatherman_/status/1130146806132822016
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Read_248 – Bitrefill’s Hottest Lightning Tech of 2019!
Today we cover all the incredible new developments coming to Lightning and what they will mean for the future the protocol! First we tackle the blog post from @Bitrefill introducing the entire list, from AMPs & submarine swaps to trampoline payments & rendezvous routing. Then I discuss at length further details about each and how these tools together may blur the gap between Bitcoin & Lightning, and turn it into a singular experience. Don’t miss today’s show!
If you don’t know much about how Lighting works, I encourage you to listen to yesterday’s episode where I talk more specifically about what it is, why it will benefit the network, and how we know we can trust it.
https://anchor.fm/thecryptoconomy/episodes/GuysTake_014—The-What–Why—How-of-Lightning-e41pbe
Don’t forget to check out Bitrefill.com for an awesome service where you can buy mobile minutes, gift cards, games, LN liquidity, & tons of other stuff with Bitcoin, Lightning & other cryptocurrencies. Check out the original post on their blog below to find links on each of these for further exploration.
https://blog.bitrefill.com/the-hottest-lightning-network-tech-features-for-2019-and-beyond-dbaaac6ddfa4
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Guy’s Take_014 – The What, Why, & How of Lightning
Today, in preparation of & to understand the significance of the vast array of new features and developments coming to lightning, we cover a full overview of the What, Why, & How of the Lightning Network.
What exactly is it, why do we need it, and how exactly does it work? A huge thank you to Aaron Van Wirdum, Pierre Rochard, and Rusty Russell for making this understandable for me, we dive into a high level approach to understanding what’s happening in lightning. In addition, despite forgetting to mention them in the podcast, a shout out to Christian Decker, Andreas Antonopoulos & Bryan Vu who have also produced great great content that helped in my understanding of lightning as well.
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Read_247 – The Ancient Sin of Debt; How Bitcoin Can Make Amends [Darren Kleine]
With a really cool and succinct article from Darren Kleine (@_DKleine), today’s read is on the “sins” of debt and usury, and how a good or bad monetary system will either encourage its corruption, or protect society from its abuse. Don’t miss a great little read and fun discussion all about the nature of debt, money, and a new financial world built on Bitcoin.
The Ancient Sin of Debt: How Bitcoin Can Make Amends
Don’t forget to follow Darren and explore the many other great pieces he has written on the topic of Bitcoin & money, plus check out the other work constantly being produced over at TheNewPaper.io.
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Guy’s Take_013 – Nodes vs Miners, Who Defines Bitcoin?
Today we cover more specifically the consequences and risks of a divorce between miners & the network of nodes. What could the miners do, are sybil attacks proof that nodes worthless, what exactly are the incentives that keep the different players in this ecosystem working together? Don’t miss another fun discussion on what defines Bitcoin, and the role that proof-of-work & validation play in this revolutionary technology.
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Guy’s Take_012 – Full Nodes or Nothing, The Story of Validation [Part 1]
When we dig to the very base elements of Bitcoin, we find it is merely digital points. What make these integers different from identical ones on billions of other computers? It is the rules that restrict the editing of those specific integers we call Bitcoin, in other words, it is the network of validating nodes that define it. In this episode you will hear Part 1 of my argument as to why.
Don’t forget to check out @StopAndDecrypt’s relevant article series and the amazing graphics for visualizing the relationship between nodes, miners, and the network by visiting the page below:
https://medium.com/@StopAndDecrypt
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