Brief Description

Bitcoin was created in 2009 as a peer-to-peer payment network. To date, the network has never been disrupted. No powerful entity has been able to censor transactions or co-opt the network’s function in any way.

Today, Bitcoin remains unstoppable. The desire for a global censorship-resistant deflationary currency is…


A scorpion wants to cross a river but cannot swim, so it asks a frog to carry it across. The frog hesitates, afraid that the scorpion might sting. The scorpion replies that it could sting the frog at any time, but would not, as this would ruin any chances the…


As Bitcoin creeps into the real economy, a little backwards induction shows why one would expect such security assurances to fail

Competition between miners is central to Bitcoin. For now.

For some party to directly enforce their will on the network, they would need to acquire at least 51% of the hashrate. Right now, such a feat is nearly impossible. Obtaining this 51% level of hashrate is so difficult to do…


Bitcoin’s extremely clunky and inefficient security mechanism is robust against most threats. PoS is not.

When people discuss PoW or PoS and talk about incentives, throwing around terms like “Nash equilibrium”, they are usually referring to mechanisms internal to that specific blockchain. …


A lawsuit against Tesla, Musk et al. May have better odds than other recent attempts at climate impact litigation.

Before we begin, three quick points.

  1. The goal isn’t to destroy “Bitcoin : A peer-to-peer Electronic Cash Sytem.” The goal is to destroy “Bitcoin: A Number Go Up System That Will…


Bitcoin, if allowed to continue to grow, will be a perverted social contract that apportions economic value to each human being over the course of their lifetime not based on their hard work, ingenuity, proficiency at a profession, or contribution to the economy, but rather a product of the timing in which they (or their parents) got into the game and how much wealth they had to wager when joining the game.

This perverted social contract locks participants in an adversarial game against other humans. The mindset and incentives of this game diminish the human ability to engage fully and mindfully in Life — Eating, drinking, loving, creating, taking pride in one’s work, enjoying Creation’s abundance, or any other activity that gives life meaning.


Bitcoin will be the largest driver for inequality in human history

In short, cryptocurrency will consummate a marriage between two industries, finance and tech. Over the 10–20 years these industries have demonstrated little more than theatrical concern with morality, especially when profit is involved. …


While some FUD is easy to defend, some will only get much worse.

Eight years ago, Bitcoin was something people laughed at. It was OK to laugh at the time because most people really don’t care if people are buying weed from the Silk Road, or experimenting with digital currency. But as Bitcoin has become a smart investment, people are dropping the scorn…


The question of if a nation-state could attack Bitcoin comes up somewhat often in the Bitcoin community. Almost always, that nation is China. The reasons are available at first glance: 1) China houses 65% of Bitcoin mining, and 2)China is the authoritarian global superpower from central casting that Bitcoiners like…


It’s fun and easy to make Bitcoin miserable if you have a supermajority of the hashrate.

Suppose you are a nation-state that’s has dedicated many billions of dollars to effectively ruining Bitcoin. You’ve amassed well over 51% of the hashrate. You now want to shut it down. The easiest thing to do would be simply to mine empty blocks. As Jimmy Song pointed out, the nodes…

Achim Littlepage

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