coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

A Primer On Ethereum

Vitalik Buterin was a barely 21 year old contributor with Bitcoin Magazine when he approached BTC Core about ideas he had for computation on BTC. By this time BTC was under control of Blockstream who were not interested in Vitalik’s project so they blew him off. Vitalik took his ideas and created Ethereum because his project was hamstrung by the …

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Memes Are The New Money

Viral images/videos are, at their essence, data. Sometimes this data travels the world many times over to the point it becomes a part of a culture’s shared experience. Today there are few opportunities to monetize a meme or any form of unique data on the Internet without access to large centralized platforms like Instagram or YouTube. The “network effect” benefits …

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Fundamentals Matter

Crypto has been on quite a tear these past 12 months. The emotions are running high and it’s raining Lambos across the Twitterverse. The conversation around Crypto, if you can call it that, is buy, Buy, BUY!   But eventually the euphoria wears off and only the winners are left standing. The winners have the best fundamentals. The winners have utility. …

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Real World NFT Use Case

NFT, aka Non Fungible Token, has been a hot topic in the markets recently. An NFT provides 1) proof that a digital item is unique 2) a chain of ownership. There are a lot of resources about NFT and how they work. I won’t go into the details. Here’s a story from The New York Times about Beeple selling a …

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FATF ruins Thanksgiving

Crypto swoons on rumors about this tweet from Coinbase CEO Brain Armstrong: Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I'm concerned that this would have unintended side effects, and wanted to share those concerns. — Brian Armstrong …

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What Does Unbounded Bitcoin Mean?

Humans evolved to develop language to describe our experiences and Science to describe all matters of the Universe. However, there are a few concepts that still boggle the mind, e.g., exponential growth and unbounded scale. Our brains have difficulty processing the concepts exponential growth and unbounded scale. This video example of Exponential Growth by Chris Martenson is worth watching as a warm up …

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FEAR, GREED AND TETHER

Like the PreCogs in Minority Report, I am reporting a murder. The murder will take place sometime in 2021 and the victim will be Tether. The murderer will be the US Government. The motive, this weekly chart of ~15B of Tether created out of thin air with no USD backing:   The resolution of Tether’s money printing is going to …

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Divided States of America

The USA is in day 2 of an election that may end up being decided by the Supreme Court. In my opinion, the election is a good news / bad news scenario. Whoever loses, that’s the good news. The bad news is the other guy won. I was struck by the mundane items that were on the California mail in …

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$1 BILLION IN BTC ON THE MOVE

There is a BTC wallet that just moved ~$1 Billion USD. Here’s the address and the search results for BTC, BCH and BSV from blockchair.com: 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx Due to the age of this address the owner has coins on BTC, BCH and BSV. These transactions are only a few hours old but so far the BTC and BCH have moved while the …

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Trick or Treat: BTC Hash Collapses by 30%

Brief weekend update on BTC. Network Hash has collapsed by 30+% resulting in high fees and very slow transactions. The reason for the hash collapse? Chinese miners who rely on hydro power are no longer receiving plentiful cheap energy as China enters the dry season. The increase in energy cost results in less profitable miners shutting down and a collapse …

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