Bitcoin Is Absurd, Part II: Struggles For Satoshi
The recent Chinese crackdown on bitcoin mining is confusing, but not incongruent with their ideology.Right now Bitcoin is experiencing a gigantic drop in hashrate due to the Chinese Communist Party (CCP) shutting down mining in the country. Already being dubbed “The Great Hashrate Migration,” a huge amount of mining equipment is being unplugged and shipped to friendlier jurisdictions around the world. Some Chinese miners have taken to booze as expectations are that nearly all mining operations will be shut down. The largest difficulty adjustment in Bitcoin’s history is likely to occur as a....
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A philosophical dive into how truly absurd the slow but sure monetary takeover bitcoin has been experiencing is.
Satoshi Nakamoto's broke a three year long silence, telling the world he is not Dorian Nakamoto (photo). Every post he made can be found in the database of the Satoshi Nakamoto Institute. Satoshi Nakamoto remains an obscure figure to most people that are involved in cryptocurrencies. As the creator of Bitcoin, he is the reason we are all here. You would not be reading this article if it weren't for him. Heck, I would not have written this text, and we would probably think virtual currencies could only exist in a galaxy far, far away. Inventor of Bitcoin. However, Nakamoto is real. Whether....
Cardano’s founder, Charles Hoskinson, has clarified why the blockchain platform was excluded from a prominent US government initiative meant to publish official economic data on public blockchains. Blockchain networks like Ethereum, Solana, Avalanche, and Optimism made the cut; Cardano didn’t. Hoskinson revealed during a YouTube AMA that the reason wasn’t technical or regulatory, but it was grounded in economics. Specifically, he said the integration fee quoted by Oracle specialist Chainlink was absurd, which made Cardano’s participation really unfeasible. Chainlink’s Absurd Fee As one of....
Satoshi Nakamoto, the mysterious creator of bitcoin, has a lot of coins that remain unspent. What is he or she likely to do with them, and how might it affect the bitcoin universe? This article was inspired by a CoinDesk commenter, who worried that we don't know much about Satoshi's intentions. "That hoard gives him way, way, way too much potential influence and wealth," they said. Satoshi certainly has a lot of funds. Bitcoin security consultant Sergio Lerner's oft-cited analysis puts the figure at around 1m BTC, based on the early mining that he or she did. Most of those coins were....
A statue of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has been unveiled in Budapest, Hungary. “The statue is made of bronze, the face is made of a special bronze-aluminium composite, thus every visitor can see their own face when looking at Satoshi. We are all Satoshi.” Statue Representing ‘We Are All Satoshi’ in Honor of Bitcoin’s Creator A statue of bitcoin’s pseudonymous creator, Satoshi Nakamoto, was unveiled Thursday in the capital of Hungary, Budapest. It is located in Graphisoft Park. According to the initiative’s....