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Category: Volume II

Decentralization, a Widely Misunderstood Concept

The concept of decentralization has taken a central place in the context of Bitcoin, blockchain, crypto, and Web3. However, it has caused some of the most consequential misconceptions about Bitcoin and blockchain, leading to a common belief……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Proof-of-Work (PoW) is the Only Way to Prevent Corruption

Bitcoin builds the blockchain with a consensus mechanism called Proof-of-Work (PoW). The primary purpose of PoW is to implement a distributed timestamp server, which consists of a network of nodes competing and agreeing with each……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

The Economics of Bitcoin Mining

While the world seems to be fixing its eyes on the bitcoin price charts, I watch a simple and mundane number: The per-block transaction fee/subsidy ratio on the Bitcoin blockchain. The fees/subsidy ratio is the……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

The Genuine Bitcoin is Green

The energy consumption of BTC mining has caused so much concern to the public that some are attempting to outlaw Proof-of-Work (PoW) systems altogether. But the energy consumption Is a problem with BTC, not BSV,……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

The Genuine Bitcoin is a Value-Creating System, not a Value-Absorbing System

Our world today has an almost blind and excessive focus on superficial face values of everything. The measurements of economic systems and financial systems are no exceptions. People confuse price and value. It has reached……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

A Cybernetic View of Bitcoin’s System Design Choices

A cybernetic view is a way of looking at systems focusing on circular causal processes of feedback, control, communication, and adaptation in complex environments. Unfortunately, Bitcoin has been predominantly viewed as a technical system controlled……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Bitcoin and the Quantum Threat

Is Bitcoin quantum proof? This is an often-asked question with the anticipated (or more often imagined) rise of quantum computing. First, due to the yet-to-be-solved (perhaps even unsolvable) unscalable error correction problem and the peculiar……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Extreme Stress Tests of Bitcoin Scalability

Bitcoin SV promises to be vastly scalable, millions of times more scalable than Ethereum. Technical scalability aside, how will such scalability stress the bitcoin supply and impact bitcoin price, and vice versa? This chapter explores……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

UTXO is Superior to Account-based Systems

The biggest structural and elemental difference between Bitcoin and Ethereum is that the former uses Unspent Transaction Output (UTXO) while the latter uses an account-based model. UTXO is like cash in that every bill or……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Privacy & Anonymity

In the world of blockchain and cryptocurrencies, there’s a struggle over the distinction between privacy and anonymity. Even some most articulate people struggle and stumble over explaining these concepts. The struggle is due to a misunderstanding……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume IDigital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume IIBitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)