Bitcoin Information Theory: B.I.T.
Entropy, a natural phenomenon, is closely related to money and information energy — Bitcoin as information is a reduction of entropy.When Buckminster Fuller was asked by a 12-year-old boy how he would suggest solving international problems without violence, he answered: “I always try to solve problems by some artifact, some tool or invention that makes what people are doing obsolete, so that it makes this particular kind of problem no longer relevant. My answer would be to develop a world energy grid, an electric grid where everybody is on the same grid. All of a sudden, there would be no....
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The 2015 Texas Bitcoin Conference will showcase a keynote delivered by George Gilder, who will discuss themes from his upcoming book, Bitcoin & Gold: Information Theory of Money. The conference will take place March 27 through 29 at the Moody Theater in downtown Austin. In his 17th book: Bitcoin & Gold: Information Theory of Money, Gilder advances his view of the existence of a disconnection between the needs of players in the global financial markets and the requirement for a stable economy to encourage innovation. He further asserts that capitalism is chiefly not an incentive system, but....
Many people interested in Bitcoin have a less than optimistic view about the health of the global economy. This skepticism — in some cases pessimism — is fueled by a controversial business cycle theory that is fairly popular in Bitcoin circles. This theory holds that the easy money created by central and fractional reserve banks induce entrepreneurs to embark upon projects that are are not actually profitable. This action sparks a series of events, in which the economy booms, reaches a peak, and then comes crashing down. Although this theory is highly contested in academic economics....
Recent events have shown the US SEC might be going after non-fungible tokens (NFTs). In a recent press release, the SEC charged Los Angeles-based media and entertainment company Impact Theory LLC for unregistered securities in the form of NFTs. SEC Goes After Impact Theory NFTs Impact Theory was one of many entertainment firms that launched […]
The Santa Fe Institute has a history of studying complex adaptive systems. Bitcoin has a deep connection to complexity theory and thermodynamic theory.
Aaron Segal dissects Bitcoin using the laws of thermodynamics and the concept of monetary entropy.