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Sound Money

“For more than 100 years, from roughly 1800 to 1912, the purchasing power value of the dollar under the gold-and-silver standard was essentially constant. With the creation of the Federal Reserve and its discretionary policies of the last century, however, the dollar’s value has declined by more than 95 percent.” – http://www.soundmoneyproject.org/?p=9136 Not that we […]

August 17, 2017

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Proof of Work

“A proof of work must have the following characteristics: a) have an adjustable “difficulty” which works under a very large range (bitcoin difficulty is ~150,000,000x higher today than at genesis and likely will go another 10x to 100x over next year). b) be very fast to verify (<100ms). Bitcoin has 52K blocks per year so […]

August 17, 2017

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Private Keys

“… if you don’t have the private key you don’t have any Bitcoins (ask the users of Input.io, Bitcoinica, bitfloor, instawallet, etc, etc, etc).” -DeathAndTaxes

August 17, 2017
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