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Bitcoin Study Resources Curated by Finney21
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Library21 11 months ago
877,947 A Declaration of the Independence of Cyberspace Author: John Perry Barlow Written: February 8, 1966 Format: Formal Declaration (844 words) — Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome among us. You have no sovereignty where we gather. We have no elected government, nor are we likely to have one, so I address you with no greater authority than that with which liberty itself always speaks. I declare the global social space we are building to be naturally independent of the tyrannies you seek to impose on us. You have no moral right to rule us nor do you possess any methods of enforcement we have true reason to fear. Governments derive their just powers from the consent of the governed. You have neither solicited nor received ours. We did not invite you. You do not know us, nor do you know our world. Cyberspace does not lie within your borders. Do not think that you can build it, as though it were a public construction project. You cannot. It is an act of nature and it grows itself through our collective actions. You have not engaged in our great and gathering conversation, nor did you create the wealth of our marketplaces. You do not know our culture, our ethics, or the unwritten codes that already provide our society more order than could be obtained by any of your impositions. You claim there are problems among us that you need to solve. You use this claim as an excuse to invade our precincts. Many of these problems don't exist. Where there are real conflicts, where there are wrongs, we will identify them and address them by our means. We are forming our own Social Contract. This governance will arise according to the conditions of our world, not yours. Our world is different. Cyberspace consists of transactions, relationships, and thought itself, arrayed like a standing wave in the web of our communications. Ours is a world that is both everywhere and nowhere, but it is not where bodies live. We are creating a world that all may enter without privilege or prejudice accorded by race, economic power, military force, or station of birth. We are creating a world where anyone, anywhere may express his or her beliefs, no matter how singular, without fear of being coerced into silence or conformity. Your legal concepts of property, expression, identity, movement, and context do not apply to us. They are all based on matter, and there is no matter here. Our identities have no bodies, so, unlike you, we cannot obtain order by physical coercion. We believe that from ethics, enlightened self-interest, and the commonweal, our governance will emerge. Our identities may be distributed across many of your jurisdictions. The only law that all our constituent cultures would generally recognize is the Golden Rule. We hope we will be able to build our particular solutions on that basis. But we cannot accept the solutions you are attempting to impose. In the United States, you have today created a law, the Telecommunications Reform Act, which repudiates your own Constitution and insults the dreams of Jefferson, Washington, Mill, Madison, DeToqueville, and Brandeis. These dreams must now be born anew in us. You are terrified of your own children, since they are natives in a world where you will always be immigrants. Because you fear them, you entrust your bureaucracies with the parental responsibilities you are too cowardly to confront yourselves. In our world, all the sentiments and expressions of humanity, from the debasing to the angelic, are parts of a seamless whole, the global conversation of bits. We cannot separate the air that chokes from the air upon which wings beat. In China, Germany, France, Russia, Singapore, Italy and the United States, you are trying to ward off the virus of liberty by erecting guard posts at the frontiers of Cyberspace. These may keep out the contagion for a small time, but they will not work in a world that will soon be blanketed in bit-bearing media. Your increasingly obsolete information industries would perpetuate themselves by proposing laws, in America and elsewhere, that claim to own speech itself throughout the world. These laws would declare ideas to be another industrial product, no more noble than pig iron. In our world, whatever the human mind may create can be reproduced and distributed infinitely at no cost. The global conveyance of thought no longer requires your factories to accomplish. These increasingly hostile and colonial measures place us in the same position as those previous lovers of freedom and self-determination who had to reject the authorities of distant, uninformed powers. We must declare our virtual selves immune to your sovereignty, even as we continue to consent to your rule over our bodies. We will spread ourselves across the Planet so that no one can arrest our thoughts. We will create a civilization of the Mind in Cyberspace. May it be more humane and fair than the world your governments have made before. #nostr #cyberspace #freedom #bitcoin #library image
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Library21 11 months ago
Mission: Create an epic digital library of Bitcoin resources A Li₿rary in memory of Hal Finney The Library of Halexandria #library #nostr #bitcoin image
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Library21 11 months ago
812,460 Topic: Bitcoin collateralized loans Format: informal notes — Bitcoin is the reserve asset of the internet economy The internet economy is an aggregate economy of the entire world and is larger than any single nation economy Bitcoin is pristine digital collateral for lending Pristine meaning: Not spoiled, corrupted or polluted Collateral: something pledged as security for repayment of a loan, to be forfeited in the event of a default Collateral is something provided to a lender as a guarantee of repayment. It is used to secure a loan Collateral reduces risk for lenders because if a borrower defaults on the loan, the lender can seize and liquidate the collateral People who own Bitcoin will have access to the best interest rates Bitcoin is the apex collateral in a digital world (largely because to it’s unmatched liquidity) Bitcoin is replacing treasuries as the apex reserve collateral Why is a Bitcoin collateralized loan a useful product? It is a tool to help individuals or companies avoid ever selling their Bitcoin By borrowing against your Bitcoin instead of selling it, you: - Eliminate capital gains taxes (Bitcoin is considered property, therefore a taxable event is created everytime you sell or exchange it) - Continue to benefit from the price appreciation of bitcoin - Can write off the interest expense of the loan Areas to research: - Dynamically refinanced loans (monthly) - Counterparty risk of different bitcoin backed loan products - Rehypothecation considerations Loan-to-value ratio (LTV): The maximum amount of a secured loan based on the market value of the asset pledged as collateral A low LTV (conservative) provides protection from liquidation in case the underlying asset has a significant drawdown in price Bitcoin backed loan products to review: LEDN, SALT lending, Unchained capital, Coinbase Factors to consider: custody risk, rehypothecation, insurance, origination fees, interest rate, Loan to value (LTV), collateral to principal (CTP), prepayment penalties, tax implications, loan maturity options
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Library21 11 months ago
"The computer can be used as a tool to liberate and protect people, rather than to control them" - Hal Finney [November 1992]
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Library21 11 months ago
Hello nostr ✋🏽 Happy proof of keys day ‘25 Continuation of @Finney21 We hope you love the Li₿rary we’re building A database of high signal Bitcoin resources categorized by block height This is the library our team uses to build custom learning protocols for clients [877,665] #bitcoin #library #nostr image