. . .

The best complicated explanation of Bitcoin’s value prop that I’ve read to date

Bitcoins are valuable because they are the irreplaceable, scarce incentive token that serve as the glue to a distributed, novel, triple-entry accounting scheme that disintermediates money + accounting + third party verification by combining them into a single, software-based product. Demand exists to use this software because it offers absolute assurance in accounting for value transfer / storage, which is a proposition that no other accounting system on the planet is capable of offering. Bitcoin’s accounting scheme is also unique in that it possesses the properties that enable intense utility-based assurances for users such as censorship resistance and asset seizure resistance. These very features make bitcoins a popular value storage vehicle for “aggressive uses and users”, who also have the benefit of easier access to it as a result of its digital + open build. The combination of accounting + utility based assurances + digital / open build makes bitcoins an ideal tool for protection against the current monetary regime, and ultimately a quality candidate for a market-selected “sound money”.

Bỏ túi kinh nghiệm lái xe không có đèn đường
Wednesday December 04, 2019

Tập trung giữ vững tay lái Lái xe ban đêm rất dễ buồn ngủ, nhưng tuyệt đối không nên điều khiển phương tiện lúc đầu óc không được tỉnh táo. Có thể đường về đêm rất vắng, thưa người và phương tiện qua lại, tuy nhiên bạn không thể lường trước được những tình huống […]

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Full article here.

Simple reminders of how to live
Thursday January 23, 2020

A simple beautiful list of life metaphors. Briefly summarizing each item here for my own learning: The weight of the glass – the longer you hold onto something, the heavier it can feelLike elephants – the chains that hold you back may not even existSee the flowers – a mistake can often be the seed […]

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PS I’m halfway through Saifedean’s The Bitcoin Standard. While the book could – like most analytical non-fiction – be compressed into 20 punchy pages, it’s a great addition to the debate and literature.

Hi! I write about habits and spirituality and random whatevers. Click here to see the daily habits that I track. Find me on Twitter @kgao.