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  By 2017, I was peripherally aware of the existence of Bitcoin as an idea, though it remained unknown to me as a global phenomenon. I had yet to learn about Bitcoin as the antifragile and sovereign monetary system able to compete globally at scale with the U.S. dollar — as the political economic worldview grounded in anarcho-capitalist, “cypherpunk” philosophies of power, value, individual autonomy and mutualist community sovereignty. For the time, I remained ignorant of Bitcoin’s Austrian school resistance to Keynesian fiscal and monetary policy, as well as the sacrosanct status of modern monetary theory in global governance, U.S. statecraft and academic circles. In 2017, I only knew that it was a tool my libertarian friends accumulated by running a server in their homes (what I later learned is the process referred to as “mining”) and then saved or spent as computerized, intangible blockchain cash on the internet. Fast-forward to summer 2021 — as I began furiously and energetically

  The Cantillon effect describes the phenomena that those closest to the money-printing benefit the most. Larger institutions, banks, organizations, and corporations are closer to the money. Larger groups representing large amounts of coordinated interests are also closer to the money. What are SMEs, small and medium Eenterprises? Small businesses are usually defined as organizations with fewer than 100 employees; midsize enterprises are those organizations with 100 to 999 employees. According to the Small Business Administration(SBA), SMEs employ 47.1% of all private-sector employees. There is another level of business that is defined by certain states or organizations. A microenterprise employs 10 or fewer people and grosses less than $250,000 annually in some cases and a maximum of $500,000 annually in other cases. That is most businesses. These businesses are a vital part of your downtown and local community. These businesses include our local pub.,our local retail store your local

  Look at this stock image looking mother fucker and then look yourself in the mirror and try to convince yourself that you honestly believe that he is the ultimate financial crime stopper. The lord and savior of those subjected to the ills of money laundering. Done laughing yet? This is Marcus Pleyer, the President of the Financial Action Task force - an unelected bureaucratic entity created in 1989 and tasked with curbing financial crime for the countries who claim to be in the G7. He is the supposed man with the plan to prevent financial criminals from harming you. At least, that's what FATF claims is their purpose and the raison d'etre that our bald headed friend Marcus has a job. In reality, the FATF serves a much more nefarious purpose. They portend to exist to recommend "guidelines" to the G7 governments in accordance with what they deem to be the most necessary steps countries can take to mitigate the chances of their citizens being subjected to financial crim

  In today’s Daily Dive, we’re covering the state of realized losses and profit in the market and an update to derivatives markets. With bitcoin’s price falling, how much more loss can the market sustain and is there more short-term downside? Over the last week, we’ve seen a rising level of realized losses on-chain during the latest price drawdown. During bitcoin’s drawdowns over the last six months, realized losses over $1 billion on a 7-day moving average has been a consistent ceiling for each new sell-off. Back in May, realized losses hit over $2 billion, the highest level in the last five years, which was driven by serious derivatives liquidations. Yet as a percent of bitcoin’s market cap, the latest round of realized losses and selling are relatively small to market capitulation we’ve seen before. Historically, the Net Unrealized Profit/Loss Ratio (NUPL) has been a useful indicator to show when the market is in full capitulation and has bottomed. As a refresher, NUPL is calculated

  In November of 2021, El Salvador hosted two Bitcoin conferences and a plethora of international Bitcoiners descended upon the country. Most Bitcoiners seemed bullish on El Salvador, however, some have criticized the roll-out as “heavy-handed and in contradiction to the Bitcoin ethos.” While it’s important to provide constructive criticism, verifying these claims is equally important. The implementation may be far from perfect; however, it’s vital to dispel the myth that El Salvador is forcing its citizens to use Bitcoin. RULES AND NORMS It’s often forgotten that the Salvadoran colón (₡) remains legal tender and that everyone is required to receive transactions in colones. In fact, with a fixed exchange of $1 = ₡8.75 SVC, consumers can ask for prices expressed in colones. Now, does anyone do this? Of course not, but someone could, and not complying would mean violating the law. In January of 2001, the USD became legal tender in El Salvador, and people began to use it over the colón, a

  It’s almost difficult to believe that later in 2022, Bitcoin will celebrate its 14th “birthday.” Over the last 14 years, Bitcoin has made great strides, growing ridiculously and setting itself up to usurp the U.S. Dollar as the world’s reserve currency. Although Bitcoin has been around for what seems to be forever, the month of January has been important over the years with several historic events and milestones in Bitcoin’s past. 2009: THE DAWN OF BITCOIN On January 3, 2009, months after publishing the Bitcoin white paper, Satoshi Nakamoto made history when he mined the Bitcoin genesis block, signing it with the message, “The Times Jan/03/2009 Chancellor on brink of second bailout for banks,” officially launching the Bitcoin network and highlighting some of the financial turmoil that inspired his invention of Bitcoin. A mere six days later, on January 9, the first Bitcoin (0.1) client was released, enabling users to perform Bitcoin transactions and paving way for the first Bitcoin t

  During a Casa Keyfest conference session held on January 6, Casa Head of Security Ron Stoner gave a rundown on “operations security” (OPSEC), a term coined by the U.S. military during the Vietnam war. According to Wikipedia, OPSEC is “a process that identifies critical information to determine if friendly actions can be observed by enemy intelligence, determines if information obtained by adversaries could be interpreted to be useful to them, and then executes selected measures that eliminate or reduce adversary exploitation of friendly critical information.” OPSEC is also common parlance in the Bitcoin world: The devices that are used for accessing your bitcoin funds are all attack surfaces that require operations security. Stoner discussed OPSEC from a Bitcoin perspective and how to protect yourself from these potential attach surfaces. But while watching Stoner’s session, my mind didn’t focus on military operations or Bitcoin attack surfaces. I started thinking about Hollywood. Sp

  Here's a pleasant surprise that was brought to the world's attention this morning; it seems like Intel is preparing to unveil a Bitcoin ASIC on February 23rd at the International Solid-State Circuits Conference. According to the Tom's Hardware post that broke the story Intel filed for a patent related to an optimized SHA-256 datapath in 2018, which would signal focus on a Bitcoin ASIC due to Bitcoin leveraging the hashcash SHA-256 cryptographic hash algorithm. It seems they may have had their heads down working to produce something Bitcoin specific. Intel thinks it can deliver Bitcoin ASICs much more efficiently at lower cost, but I'll believe it when I see it. via Tom's Hardware If we take his word at face-value it seems that Raja and the team at Intel think they Bitcoin ASICs much more efficiently and at a lower cost. As with everything in the Bitcoin ASIC world, I won't believe it until I see it. Definitely keep your eyes peeled on the morning of February 2

  For the purposes of this article, the following theoretical epochs will be identified, described and applied to Bitcoin adoption, resistance and narratives: classical theory, neo-classical theory, systems theory, human relations theory, power and politics, chaos theory, critical theory, inter-governmental relations and interpretive theory. Bitcoin will be addressed as an asset class which spans all the theoretical models presented and one in which alternative asset classes are being demonetized. PART ONE: A QUICK HISTORY OF THINKERS Classical theory crash course: In 1911, Frederick Taylor published the “Principles Of Scientific Management,” where, in essence, he proposed that there was one best way in order to do, essentially, all things. The theory was integrated into a variety of real-world applications, most notably, the production of the automobile. As such, Taylor’s model revolutionized the assembly of vehicles by reducing the worker to a single task in many cases. Assembly line

  How poetically perfect that 2021 was the year that the world discovered how 21 million bitcoin are the key to the world’s future economic system. This was the year when the public finally woke up. Last year, Bitcoin entered the world’s cultural zeitgeist in a way like never before. This was a game changer of a year that taught us many lessons. Specifically, there are four lessons about Bitcoin and cryptocurrency from 2021 that haven't received enough attention: LESSON ONE: FIAT INFLATION IS INEVITABLE Last year, we all heard the sound of the money printer going “brr.” This sound was also the sound of trust in our monetary system being fed into a shredder. Bitcoin was designed as an alternative to a trust-based monetary system. In 2021, it finally became obvious to everyone that inflation was here, and Bitcoin's use case as a trusted store of value went from speculative to urgent. Last year, people around the world woke up and began to embrace bitcoin as a hedge against rampan

  There have been countless arguments surrounding both the proof-of-work (PoW) and proof-of-stake (PoS) as a means of gaining consensus on a blockchain network. Many people have been asking themselves which one is better, and why? In this article, I'll go over some of the main benefits and drawbacks of each consensus mechanism. Let's dive in. WHAT IS PROOF-OF-WORK (POW)? Proof-of-work is a decentralized consensus mechanism first introduced by Bitcoin (BTC). We will use the Bitcoin network as an example to understand the proof-of-work consensus mechanism. The Bitcoin network essentially requires members to contribute computing power, such as graphics processing units, to solve arbitrary mathematical puzzles, and prevent anyone from gaining control or manipulating the system. Every transaction that occurs is validated before it gets added to the blockchain. Each block then gets validated by the miners, who get rewarded BTC tokens as they have put in the “work” through their proce