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Sam Armstrong
Sam Armstrong

121 Followers

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Nov 17, 2018

General Agreement: How Bitcoin Defeats Ignorance & Bias

Ever since monarchies fell to the collective idea that citizenship and voting rights should belong to every individual, decision making has been constrained by a lack of long term thinking and rational irrationality. Of course, monarchy had it’s own drawbacks. Your sovereign can suddenly die and a power struggle between…

Bitcoin

6 min read

General Agreement: How Proof of Work Defeats Ignorance & Bias
General Agreement: How Proof of Work Defeats Ignorance & Bias
Bitcoin

6 min read


Nov 5, 2018

Who Gives Bitcoin its Value?

“Users give value to frozen concentrated orange juice” I, the user, am a sovereign individual. All evaluations are in my, and other users, control and we determine that which is and is not valuable. There are no forces which act upon us by which this evaluation is determined. …

Bitcoin

3 min read

Who Gives Bitcoin its Value?
Who Gives Bitcoin its Value?
Bitcoin

3 min read


Oct 14, 2018

In Defense of The NPC — They’re Smarter Than You Think

The NPC (Non player character) meme has recently come to internet fame as a way of disparaging people who seem to have nothing new to offer to a conversation, generally about politics, and speak about subjects as if they were dialog trees which were just responses programmed into them. …

Gaming

5 min read

In Defense of The NPC
In Defense of The NPC
Gaming

5 min read


Aug 23, 2018

What is Bitcoin Backed By?

Have you ever wondered why banks have marble floors? You walk in, the place is decked out with fancy columns and marble everywhere. Do you value that? Your goal is to spend as little time as possible at the bank to perform some transaction, does the interior matter THAT much…

Bitcoin

4 min read

What is Bitcoin Backed By?
What is Bitcoin Backed By?
Bitcoin

4 min read


Jun 27, 2018

Imagine If Full Nodes Actually Controlled Bitcoin

Suspend your disbelief for a moment, and postulate that miners don’t actually control the blockchain regardless of what non-mining fully validating nodes say they would like the protocol rule set to be by broadcasting their node version. Imagine instead that full nodes are able to successfully constrain miners. …

Bitcoin

5 min read

Imagine If Full Nodes Actually Controlled Bitcoin
Imagine If Full Nodes Actually Controlled Bitcoin
Bitcoin

5 min read


May 3, 2018

The St Louis Fed is Wrong: Bitcoin Has Intrinsic Value or Nothing Does

Recently, the St Louis Fed has entered crypto news stating that Bitcoin and government backed currencies have no intrinsic value. This is supposed to be in contrast to things like commodities, but this contrast doesn’t exist. To show why, let me first explain what the fed means by intrinsic value. …

Bitcoin

5 min read

The St Louis Fed is Wrong: Bitcoin Has Intrinsic Value or Nothing Does
The St Louis Fed is Wrong: Bitcoin Has Intrinsic Value or Nothing Does
Bitcoin

5 min read


Apr 12, 2018

Selfish Mining is Brain Dead (or Adversarial Turtles All The Way Down)

I try to bring to all my articles the principle of charity, taking the best arguments my opponents have to offer, and strive to never straw man them. I often do this by taking the points they argue for as given, and then go behind their front lines, and looking…

Bitcoin

4 min read

Selfish Mining is Brain Dead (or Adversarial Turtles All The Way Down)
Selfish Mining is Brain Dead (or Adversarial Turtles All The Way Down)
Bitcoin

4 min read


Apr 3, 2018

There is No Security Trade-off Running a Thin Client Instead of a Full Node

It’s been said “Not your private key, not your Bitcoin. Not your node, not Bitcoin”. The theory goes like this. If you aren’t running a fully validating node to verify your own transactions, then you can’t know if you are transacting on the chain you intend to. …

Bitcoin

8 min read

There is No Security Trade-off Running a Thin Client Instead of a Full Node
There is No Security Trade-off Running a Thin Client Instead of a Full Node
Bitcoin

8 min read


Mar 22, 2018

Block Size Limit is NOT Required to Sustain Miner Reward Incentives

In the Bitcoin protocol, only 21 Million Bitcoin will ever be created because the reward for mining blocks halves every 210,000 blocks. …

Bitcoin

2 min read

Block Size Limit is NOT Required to Sustain Miner Reward Incentives
Block Size Limit is NOT Required to Sustain Miner Reward Incentives
Bitcoin

2 min read


Mar 16, 2018

Lets Increase the Block-Production Time to 12 Hours (Or How to Make Everyone Run a Full Node)

Bitcoin-accepting merchants want to receive payment and provide services instantly. However, block construction times can be as much as 10 minutes after the moment a bitcoin transaction is broadcast. …

Bitcoin

8 min read

Bitcoin

8 min read

Sam Armstrong

Sam Armstrong

121 Followers

Software Engineer @Go figure it out if you want to

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