Who pays for Bitcoin block rewards? Bitcoin hodlers do. The payment is hidden by the more apparent appreciation in price when compared to the unit of account (e.g., dollars), but nonetheless real. By contrast to a world in which block rewards are zero, and so miners receive only fees, block rewards expand the pool of BTC in circulation, diluting the purchasing power of each existing BTC unit (holding real demand constant).

I would like to remember that the technologically incompetent decisions we are witnessing in Brazil come from the same court that manages our election system.

Politics under a democracy involve a curious psychology. You trade your incapacity to control market agents that can’t coerce you for the incapacity to control the political agents that can coerce you.

Primal or Damus?

Bitcoin is bad because it's backed by nothing… 🫠 “Over the years, all the governments in thew world, having discovered that gold is, like, rare, decided that it would be more convenient to back their money with something that is easier to come by, namely: nothing." Better Money, L. White

Every online resource is someone else's computer. There's no free lunch. Don't take valuable resources for granted. Consider paying a subscription or donating a small amount if you can. In the case of Wikipedia, you can also contribute by correcting mistakes or writing technical articles. Most "free" services are indeed paid by ads, incentivizing people to create addictive crap instead of true value. We end up with bloated platforms in which the gems are buried in a sea of nonsense. That's also why I'm experimenting with #nostr: zapping gives users the power to decide what is valuable enough to be paid for.

Yesterday, I gave a talk about the principles behind the #bitcoin protocol. This is part 1, covering: 1. the problem we need to solve to build an #economy based on digital transactions; 2. the bitcoin transactions data structures; and 3. the embedded programming language that makes #money programmable.

The more I dig into the nitty-gritty of the protocol, the more convinced I am that #bitcoin truly is the internet of money. It's not only a superior form of money but also a platform for supporting financial applications we can barely imagine right now. Feels just like the #internet in the year 2000, just before we woke up and realized all aspects of our lives depended on it.

AI will kill coding just like restaurants killed home cooking and Spotify killed live performances.

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Nvidia CEO Jensen Huang has a unique take on what kids should study in school. While computer science and programming were once the must-have skil...

Historical picture revealed today: Satoshi Nakamoto attending the bitcoin++ conference in Argentina in 2024. #btcplusplus #vinteum #base58