"Unpacking the article in Nature"
Links to the best articles, videos and podcasts about Bitcoin.
"Dis-aggregating the system’s guarantees"
"Why Bitcoin banks need to prove their solvency"
"This article comprehensively addresses concerns around Bitcoin’s security model which is funded by the block subsidy and transaction fees."
"As such, the Lightning Network, the long-awaited Bitcoin overlay network for cheap and instant transactions, is by many of its developers considered safe enough to use on Bitcoin’s mainnet: a major milestone for the technology that has been years in the making. This is the story so far."
"For the past year or two, Bitcoin’s lightning network has been one of the most closely watched developments in the crypto industry and while I’m very excited about the new possibilities enabled by the Lightning Network, I can’t help but ask: What about the other layers?!"
"What follows is data and analysis from a survey of American adults regarding general sentiment toward Bitcoin — the survey was conducted online by The Harris Poll, on behalf of Blockchain Capital, from April 23–25, 2019 among 2,029 American adults. The survey was an augmented version of one we ran in October 2017 (we added a few questions)."
"A forward contract is a type of derivative that represents a bilateral agreement to buy or sell an asset at a specific price (the “forward rate”) at a predetermined date in the future, usually to strategically hedge against price changes. The forward rate is a mutually agreed upon fair price at settlement, that takes into account factors like the spot price at the creation of the contract, growth from interest rates, and cost of storage. Forward contracts are handled between two parties, usually without the need for an exchange or clearing house, so both parties must trust each other to meet the terms of the agreement."
"Bitcoin’s “security budget” is the total amount of money we pay to miners (or, if you prefer, the total amount spent on mining – they are the same thing). When this value is low, 51% attacks are cheap."
"The Navy was a practical education in global economics, distributed systems, and high stakes game theory. It taught me that civilization is shaped by the powers that master commerce. Today, that power is the carrier strike group. Tomorrow it will be a Bitcoin node."
"Today, Bitcoin turns 10. And while we all know today that Bitcoin is just one of thousands of tokens, 10 is a good time to reflect on the watershed developments cryptocurrency has seen over the past decade."
"Bitcoin is often referred to as a secure timestamping service. We never had a global record of truth with trustworthy timestamps, so how did this come about? It’s generally due to Proof of Work being combined to a few simple rules by which miners must abide."
"For technologists and historians, it may well be a revolution; but for everyone else — it’s an evolution in personal finance."
"We don’t talk much about price in this blog, but we will make an exception today to show how to value bitcoin using a high-level approach. We’ll highlight three significant trends in the world and suggest how either one of them could lead to increased demand for neutral, private money in the future."
"Economists frame these issues in terms of “supply and demand”. I’ve previously argued that, when it comes to blocksize and fees, miners will act as a single coordinated monopolist. This monopolist will select a point on the blockspace demand curve which maximizes total revenue. Gavin made a similar point a long time ago."
"A discussion of Bitcoin’s ability to resist 51% attacks (ie, its “security budget”). Competition makes it difficult for one network to collect enough fees – instead, we should try to collect fees from all networks."
"While Bitcoin today showcases a vast body of anecdotal evidence which argues its utility or potential future utility, due to the pseudonymous nature of the blockchain as well as other factors, it is still hard to come across aggregate data which shows this behavior occurring on a consistent and measurable scale."
"I write this article because I’m sick of being confronted by people, even others in crypto, about crypto allegedly being an environmental disaster. It isn’t. That is an egregious lie."