The Bitcoin Origins (12) - 2020

The Bitcoin Origins (12) - 2020

Other parts of series:
The Bitcoin Origins (0) - Pre-bitcoin
The Bitcoin Origins (1) - The beginning to 2009
The Bitcoin Origins (2) - 2010
The Bitcoin Origins (3) - 2011
The Bitcoin Origins (4) - 2012
The Bitcoin Origins (5) - 2013
The Bitcoin Origins (6) - 2014
The Bitcoin Origins (7) - 2015
The Bitcoin Origins (8) - 2016
The Bitcoin Origins (9) - 2017
The Bitcoin Origins (10) - 2018
The Bitcoin Origins (11) - 2019
The Bitcoin Origins (12) - 2020


Tweet - Misir Mahmudov (@misir_mahmudov)
"Buying a home is much harder today than it was for previous generations

Price of college is increasing 8 times faster than wages

Negative interest rates

Food products & household supplies are shrinking in size

Bitcoin is people collectively responding to these injustices"

Tweet - cumbrained but polite egirl (@femalelandlords)
"Money printer go brrrrr" meme

Bitcoin price flash crash to $3,867

Tweet - Edward Snowden (@Snowden)
"This is the first time in a while I've felt like buying bitcoin. That drop was too much panic and too little reason."

Joseph Young - How High Leverage in the Crypto Market Crashed Bitcoin to $3,800$3,800

BitMEX Research - Inflation Is Coming

Tweet - Andreas (@aantop)
"Just so we're clear: large corporations, banks and investors already got their bailout, today. (Fed QE infinity and asset buys)

The rest of us? "Let them eat homemade avocado toast", if you can find avocados or toast.

Crony kleptocracy masquerading as a free market economy."

Matt Ahlborg - Latin American Bitcoin Trading Follows the Heartbeat of Venezuela

Tweet - FDIC Gov
Tweet - FDIC Gov (@FDICgov)
"Forget the mattress! Keeping large sums of cash at home is risky. The best place to protect your money is in an FDIC-insured bank where it’s safe and sound. Learn how the FDIC safeguards your #money at"

Tweet - FDIC Gov
Tweet - CBS News (@CBSNews)
"National Economic Council Director Larry Kudlow says the coronavirus relief package will be $6 trillion"

Tweet - Blockfolio (@blockfolio)
"The Fed's plan is to print the equivalent of 899,312,924 bitcoin."

Bitcoin’s mining difficulty sees the second-largest drop in history
"The difficulty has dropped by around 16% to ~13.90 trillion on March 26."

Decoupling Bitcoins from Their Transaction History Using the Coinbase Transaction

Tweet - Vis (@Vis_in_numeris)
"One million dollars every second.

That's how much the Federal Reserve is printing.

It's balance sheet increased by $586.1 billion last week to a record total of $5.24 trillion. Which is $84 billion a day and $60 million printed per minute."

The Number Zero and Bitcoin
Robert Breedlove - The Number Zero and Bitcoin
"... disruption of Bitcoin is extremely unlikely: Bitcoin is a path-dependent, one-time invention; its critical breakthrough is the discovery of absolute scarcity - a monetary property never before (and never again) achievable by mankind."
"As a thought experiment, consider that if a New Bitcoin was launched today, it would exhibit weak chain security early on, as its mining network and hash rate would have to start from scratch. Today, in a world that is aware of Bitcoin, this New Bitcoin with comparatively weak chain security would inevitably be attacked"
"A true Bitcoin killer would necessitate an entirely new consensus mechanism and distribution model; with an implementation overseen by an unprecedentedly organized group of human beings: nothing to date has been conceived that could even come close to satisfying these requirements. "
"Bitcoin is the global economic singularity: the ultimate monetary center of gravity - an exponential devourer of liquid value in the world economy, the epitome of time, and the zero-point of money."
"Only unstoppable ideas can break otherwise immovable institutions: zero brought The Church to its knees and Bitcoin is bringing the false church of The Fed into the sunlight of its long-awaited judgement day."

Olaoluwa Osuntokun - LSAT: Authentication and Payments for the Lightning-Native Web

Kraken - Bitcoin (BTC) Vires in numeris

Tweet - therealkiyosaki (@theRealKiyosaki)
"DEATH OF DOLLAR. People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money."

Tweet - Pomp (@APompliano)
"The argument of "the Bitcoin halving is priced in" is dumb.

If incoming daily supply drops 50%, then you would need a 50% drop in daily demand as well to keep the same price.

Good luck if your thesis is built on the idea that demand for Bitcoin is going to drop 50%."

Tweet - Pomp (@APompliano)
"The economy is dependent on at least half the citizens not understanding how money works.

If everyone understood the game of money, the system would break."

Hacker Exploits Flaw in Decentralized Bitcoin Exchange Bisq to Steal $250K
"The value of the crypto stolen was roughly $22,000 worth of bitcoin (BTC) and $230,000 worth of monero (XMR), according to CoinDesk data at press time."

Tweet - John Vallis (@johnkvallis)
"The #fiat money makers have skimmed so much off the top of the productivity and prosperity of humanity.

History will be incredibly harsh on them.

Don’t be the sad, innocent, unwitting, faceless victim in this story.

Be among those who changed it.

Buy #bitcoin. #stacksats"

Tweet - The Moon (@TheMoonCarl)
"BREAKING NEWS: At least a dozen Lebanese banks across the country have been torched and vandalised in the past 48 hours.

Citizens are upset about the Lebanese pound falling 50% in value over the past six months.

Bitcoin is needed now more than ever!"

Third bitcoin halving (12,5 to 6,25 BTC)
Third bitcoin halving occured in block 630,000. The block reward dropped from 12,5 BTC to 6,25 BTC.

Moved 50 BTC mined in 2009-02-09
A visual explanation of why this block is NOT believed to be Satoshi: tweet

Signed message proving that Craig Wright is a liar
Message is signed by 145 addresses with mined unmoved coins from 2009-2010. Each address contains 50 BTC. Original signer proved he owns at least 7250 BTC.
Message text:
"Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this message.

The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity.

Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others.

We are all Satoshi"

Signed message:

Tweet - Kevin Rooke - Grayscale's Bitcoin Trust bought 18,910 Bitcoins since the halving
Tweet - Kevin Rooke (@kerooke)
"Grayscale's Bitcoin Trust bought 18,910 Bitcoins since the halving.

Only 12,337 Bitcoins have been mined since the halving.

Wall Street wants Bitcoin, and they don't care what Goldman Sachs has to say."

Coin Metrics - Measuring Bitcoin’s Trading Volume
Coin Metrics - Measuring Bitcoin’s Trading Volume
"BTC's daily trading volume can be evaluated at different levels of aggregation.

For a buy-side institution, the volume of BTC spot markets in USD ($0.5 billion per day from major exchanges) is perhaps the most relevant."

How I checked over 1 trillion mnemonics in 30 hours to win a bitcoin
"Alistair Milne tweeted that he planned to giveaway 1 Bitcoin in a wallet generated using a 12-word mnemonic.
With 8 known words there are 2^4 (1.1 trillion) possible mnemonics.
I wrote a server application that would orchestrate the distribution of work into batches of 16 million mnemonics to a pool of GPU workers. Each GPU worker would ask the server for the next batch of work to do, perform the work, and log the result back to the server.
I spent $350 renting GPUs from (plus $75 for free from Azure)."

Robert Breedlove - Masters and Slaves of Money
Robert Breedlove - Masters and Slaves of Money
"Money is a tool for trading human time. Central banks, the modern-era masters of money, wield this tool as a weapon to steal time and inflict wealth inequality. History shows us that the corruption of monetary systems leads to moral decay, social collapse, and slavery. As the temptation to manipulate money has always proven to be too strong for mankind to resist, the only antidote for this poison is an incorruptible money - Bitcoin."
"Remember: society always slides towards slavery when a privileged few are able to produce money more cheaply than everyone else. As such, a free world is forever beyond reach before central banking is eliminated."
"By buying Bitcoin, you are participating in a global protest against state-controlled currency pyramid schemes in a way that politicians cannot ignore - since money is the only voting system in which your voice cannot be muted."
"Buy Bitcoin = bye bye slavemasters."

The Satoshi Fortune
The amount of bitcoins owned by Satoshi is estimated to 1,125,150 bitcoin mined up to block 54,316.

Lyn Alden - 3 Reasons I’m Investing in Bitcoin

First publicly-traded company purchased 21,454 bitcoins as reserve asset
MicroStrategy publicly-traded business intelligence company purchased 21,454 bitcoins at an aggregate purchase price of $250 million.
"This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy."

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