“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. …

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. …

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…

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. …

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. …

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…

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. …

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

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. …