Here are just a few examples of what that sort of total control may look like:
Government in total control
The government could not only withhold money whenever they deemed fit but they could also devalue the currency.
Lack of privacy
The government will be aware of all of your financial information, what you owe and to whom, what you are spending money on, and what assets you have.
The end of personal security
No longer can you “hide” savings under your mattress. The government will always know how much you have and will have access to it.
Tracking of purchases
The government will be able to track everything you purchase—and potentially stop you from buying it. Let’s say it is something the political party in charge disagrees with, such as legalized marijuana. They can track you and prevent you from purchasing it again.
Tracking pornography purchases, abortion payments, tax evasion, and more…
While you may not think this is a bad idea, what if it goes a step further? What if they think you need to eat less red meat?
Hacking and data breaches
My head spins just thinking of all the ways a CBDC could be attacked by hackers or cyber terrorists.
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
Inflation is a rise in prices, which can be translated as the decline of purchasing power over time.
The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time.
The rise in prices, which is often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.
Inflation can be contrasted with deflation, which occurs when prices decline and purchasing power increases.
KEY TAKEAWAYS
Inflation is the rate at which prices for goods and services rise.
Inflation is sometimes classified into three types: demand-pull inflation, cost-push inflation, and built-in inflation.
The most commonly used inflation indexes are the Consumer Price Index and the Wholesale Price Index.
Inflation can be viewed positively or negatively depending on the individual viewpoint and rate of change.
Those with tangible assets, like property or stocked commodities, may like to see some inflation as that raises the value of their assets.
Understanding Inflation
While it is easy to measure the price changes of individual products over time, human needs extend beyond just one or two products.
Individuals need a big and diversified set of products as well as a host of services for living a comfortable life.
They include commodities like food grains, metal, fuel, utilities like electricity and transportation, and services like healthcare, entertainment, and labor.
Inflation aims to measure the overall impact of price changes for a diversified set of products and services. It allows for a single value representation of the increase in the price level of goods and services in an economy over a period of time.
Causes of Inflation
An increase in the supply of money is the root of inflation, though this can play out through different mechanisms in the economy.
A country’s money supply can be increased by the monetary authorities by:
Printing and giving away more money to citizens
Legally devaluing (reducing the value of) the legal tender currency
Loaning new money into existence as reserve account credits through the banking system by purchasing government bonds from banks on the secondary market (the most common method)
In all of these cases, the money ends up losing its purchasing power. The mechanisms of how this drives inflation can be classified into three types: demand-pull inflation, cost-push inflation, and built-in inflation
Here is an interesting collection of books about inflation:
“According to Cantillon, the beneficiaries from the expansion of the money supply are the first recipients of the new money, who are able to spend it before it has caused prices to rise.
Whoever receives it from them is then able to spend it facing a small increase in the price level.
As the money is spent more, the price level rises, until the later recipients suffer a reduction in their real purchasing power.
This is the best explanation for why inflation hurts the poorest and helps the richest in the modern economy.”
Saifedean Ammous, “The Bitcoin Standard: The Decentralized Alternative to Central Banking”
“It is much more difficult to see how it will ever be possible to abandon a system of provision for the aged under which each generation, by paying for the needs of the preceding one, acquires a similar claim to support by the next.
It would almost seem as if such a system, once introduced, would have to be continued in perpetuity or allowed to collapse entirely.
The introduction of such a system therefore puts a strait jacket on evolution and places on society a steadily growing burden from which it will in all probability again and again attempt to extricate itself by inflation.”
Friedrich A. Hayek, “The Constitution of Liberty”
What with the doctrines that are now widely accepted and the policies accordingly expected from the monetary authorities, there can be little doubt that current union policies must lead to continuous and progressive infl ation.
The chief reason for this is that the dominant “fullemployment” doctrines explicitly relieve the unions of the responsibility for any unemployment and place the duty of preserving full employment on the monetary and fiscal authorities.
The only way in which the latter can prevent union policy from producing unemployment is, however, to counter through inflation whatever excessive rises in real wages unions tend to cause.”
Friedrich A. Hayek, “The Constitution of Liberty”
“Inflation destroys the value of your savings while Bitcoin protects them.”
Olawale Daniel
“To accumulate any wealth, you must invest at a growth rate higher than inflation.”
Naved Abdali
“An ounce of gold will always be an ounce of gold regardless of the length of possession.
The short-term value will go up or down, but gold prices will follow the general inflation rate in the long run.”
Naved Abdali
“… The Banks, as we now all too well know, must be rescued no matter what.
‘The value of commodities is thus sacrificed in order to ensure the fantastic and autonomous existence of this value in money.
In any event, a money value is only guaranteed as long as money itself is guaranteed.’
Inflation, as we also know, must be kept under control at all costs.
‘This is why many millions’ worth of commodities have to be sacrificed for a few millions in money.
This is unavoidable in capitalist production and forms one of its particular charms.’
Use values are sacrificed and destroyed no matter what is the social need.
How insane is that?”
David Harvey, “Marx, Capital and the Madness of Economic Reason”
“For one thing, this steady devaluation of the dollar is a new practice, relatively speaking.
For most of our country’s history, the dollar gained value.
The dollar was worth 75 percent more in 1912 than it was worth in 1800.
You know those stories your parents or grandparents tell about how they used to buy a sandwich and a fountain soda for a dime?
How everything was so much cheaper back in the day?
If you were around in 1900, for instance, the old folk didn’t tell those sorts of stories.
What cost a dime in 1900 probably cost fifteen cents in 1875, and twenty cents in 1800.
Of course, since 1912, the dollar has lost more than 95 percent of its value….
You will remember what happened in 1913: the Fed was created.”
Peter Schiff, “The Real Crash”
“We have gold because we cannot trust governments”
Herbert Hoover
“Inflation is taxation without legislation.”
Milton Friedman
“Inflation is always and everywhere a monetary phenomenon.”
Milton Friedman, “Money Mischief: Episodes in Monetary History”
“The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature.
The inflation tax has a fantastic ability to simply consume capital.
It makes no difference to a widow with her saving in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation, or pays no income taxes during years of 5 percent inflation.
Either way, she is ‘taxed’ in a manner that leave her no real income whatsoever.
Any money she spends comes right out of capital.
She would find outrageous a 120 percent income tax, but doesn’t seem to notice that 5 percent inflation is the economic equivalent.”
Warren Buffett
“Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.”
Ronald Reagan
“The natural tendency of the state is inflation.”
Murray Rothbard
“The first panacea for a mismanaged nation is inflation of the currency; the second is war.
Both bring a temporary prosperity; both bring a permanent ruin.
But both are the refuge of political and economic opportunists.”
Ernest Hemingway
“Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
James A. Garfield
“Continued inflation inevitably leads to catastrophe.”
Ludwig von Mises
“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.”
Ludwig von Mises
“Continued inflation inevitably leads to catastrophe.”
Ludwig von Mises
“When a business or an individual spends more than it makes, it goes bankrupt.
When government does it, it sends you the bill.
And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation.
Make no mistake about it, inflation is a tax and not by accident.”
Ronald Reagan
“Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending.
No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.”
Ayn Rand
“Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation.”
Murray Rothbard
“Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel.
These once unthinkable dosages will almost certainly bring on unwelcome after-effects.
Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.”
Warren Buffett
“I believe that banking institutions are more dangerous to our liberties than standing armies.”
Thomas Jefferson
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
There is no safe store of value.
Deficit spending is simply a scheme for the hidden confiscation of wealth.
Gold stands in the way of this insidious process. It stands as a protector of property rights.
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
Alan Greenspan
“I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.”
Friedrich August von Hayek
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency.
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.
The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.”
John Maynard Keynes
“Printing money creates inflation, which weakens an economy.
Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.”
Peter Schiff
“It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less.
[I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with ‘free banking.’
The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.”
Paul Volcker
“Most people will see declining returns [due to inflation].
One of the great defenses if you’re worried about inflation is not to have a lot of silly needs in your life – you don’t need a lot of material goods.”
Charlie Munger
“Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.”
Ludwig von Mises
“There are two main drivers of asset class returns – inflation and growth.”
Ray Dalio
“It’s hard to build models of inflation that don’t lead to a multiverse.
It’s not impossible, so I think there’s still certainly research that needs to be done.
But most models of inflation do lead to a multiverse, and evidence for inflation will be pushing us in the direction of taking [the idea of a] multiverse seriously.”
Alan Guth
“If the governments devalue the currency in order to betray all creditors, you politely call this procedure ‘Inflation‘.”
George Bernard Shaw
“The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit.
The more inflation progresses, the higher rises the national income.”
Ludwig von Mises
“The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.”
Ludwig von Mises
“The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense.
And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation.
That is not price stability, yet they call it price stability.
I just do not understand central banks wanting a little inflation.”
Paul Volcker
“Inflation is the fiscal complement of statism and arbitrary government.
It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.”
Ludwig von Mises
“To reverse the trend and reduce the role of government in our lives, and thus alleviate the government deficit and inflation pressures, is a giant educational task.
The social and economic ideas that gave birth to the transfer system must be discredited and replaced with old values of individual independence and self-reliance.
The social philosophy of individual freedom and unhampered private property must again be our guiding light.”
Hans F. Sennholz
“What I’m trying to say is that for the average investor, what I would encourage them to do is to understand there’s inflation and growth – it can go higher and lower – and to have four different portfolios essentially that make up your total portfolio that gets you balanced.”
Ray Dalio
“If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will.
As a result, this ‘inflation’ of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”
Murray Rothbard
“We are now speeding down the road of wasteful spending and debt, and unless we can escape we will be smashed in inflation.”
Herbert Hoover
“Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary.
For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.”
Friedrich August von Hayek
“Big business is not dangerous because it is big, but because its bigness is an unwholesome inflation created by privileges and exemptions which it ought not to enjoy.”
Woodrow Wilson
“Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
Gold stands in the way of this insidious process.
It stands as a protector of property rights.”
Alan Greenspan
“Higher education is the place where people who had big plans in high school get stuck in fierce rivalries with equally smart peers over conventional careers like management consulting and investment banking.
For the privilege of being turned into conformists, students (or their families) pay hundreds of thousands of dollars in skyrocketing tuition that continues to outpace inflation.
Why are we doing this to ourselves?”
Peter Thiel
Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
Murray Rothbard
“Inflation, being a fraudulent invasion of property, could not take place on the free market.”
Murray Rothbard
“No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon.
Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.”
Milton Friedman
“The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game.
The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about ‘Inflation,’ for which virtually everyone else in society seems to be responsible.
What we are seeing is the old ploy by the robber who starts shouting ‘Stop, thief!’ and runs down the street pointing ahead at others.”
Murray Rothbard
“I think democracies are prone to inflation because politicians will naturally spend [excessively] – they have the power to print money and will use money to get votes.
If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don’t set the record.
It happens over the long-term under any form of government.”
Charlie Munger
“Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., Inflation.
The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, Protracted Inflation.”
Ludwig von Mises
“Inflation is essentially antidemocratic.”
Ludwig von Mises
“Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.”
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
Happy Genesis Block Day! January 3 is the 14th anniversary of Bitcoin’s Block Zero, its anchor in time.
The first sentence of the email has become iconic among the Bitcoin community:
“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”
On January 3, 2009, the genesis block of the Bitcoin blockchain was mined by its pseudonymous creator Satoshi Nakamoto, marking the first time in history that a completely digital and decentralized currency went online.
In the 14 years and three halvings since, Bitcoin has grown to become one of the most important financial instruments, clearly demonstrating that a non-central bank-controlled currency is capable of challenging the established monetary order.
That time, in 2009, was one of economic turmoil—and the aftershocks from that turmoil are still rocking our world in 2023.
The Genesis Block was never “mined” like every other Bitcoin block. That started with Block #1 when Satoshi Nakamoto released the software on SourceForge.
The hash from Block #0 was done with different software and hard-coded into the original Bitcoin protocol.
“Chancellor on brink of second bailout for banks” was the Times headline. Satoshi hid in the first block’s coinbase hash as a timestamp to prove there had been no mining on the Bitcoin network before he released the software to the public.
The Times – January 3 2009
“The Chancellor will decide within weeks whether to pump billions more into the economy,” the original article in the Times said. In 2009 these seemed like desperate measures, and they were. Since 2009, though, governments across the Western world have indeed pumped billions, even trillions more, into their economies.
Satoshi was making a statement on irresponsible government interventions in the economy and their eventual erosion on markets.
“They actively sought to incentivise bad behaviour and push in typical Keynesian style the problem down the road. It would be a bigger problem, but it would be someone else’s problem.”
Just like the economy at large, Bitcoin is a long-term struggle against the worse aspects of human nature.
In the 14 years and three halvings since, Bitcoin has grown to become one of the most important financial instruments, clearly demonstrating that a non-central bank-controlled currency is capable of challenging the established monetary order.
10 most important Bitcoin Milestones
Bitcoin has reached numerous major milestones and faced several considerable obstacles over its nearly decade-and-a-half-long history.
Here are 10 events that had the biggest impact on Bitcoin so far:
November 28, 2012: First Bitcoin halving
February 28, 2014: Mt. Gox, the biggest Bitcoin exchange at the time, files for bankruptcy
July 9, 2016: Second Bitcoin halving
August 1, 2017: Bitcoin Cash hard fork
May 11, 2020: Third Bitcoin halving
February 8, 2021: Tesla invests in Bitcoin
February 20, 2021: Bitcoin reaches $1 trillion market cap for the first time
September 7, 2021: El Salvador makes Bitcoin legal tender
November 14, 2021 – Taproot upgrade is activated
November 11, 2022: Major crypto exchange FTX files for bankruptcy
Bitcoin has never closed in the red zone 2 years in a row: Will the trend continue?
Bitcoin price decreased by over -60% over the span of the last 12 months. However, there is a strong bullish precedent in play that could spell a major trend reversal in the coming months.
For starters, Bitcoin has never closed in the negative two years in a row. Granted, there is a relatively short set of historical price data to work with.
However, roughly speaking, Bitcoin has operated on 3 years of growth followed by 1 year of market retracement periods, at least so far
Bitcoin Change Year-over-Year
For world-renowned charities such as Save the Children, the White aper and the subsequent creation of Bitcoin have benefited the organization.
Antonia Roupell, Web3 lead at Save the Children, told Cointelegraph that the organization recognizes “Bitcoin’s potential to be a force for good and a force for financial inclusion,” adding:
“On Bitcoin’s 14th anniversary, and at a time of increasingly global financial inequality, the phrase ‘bitcoin is for anyone’ really resonates.”
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.
Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.
Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.
Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.
Losing your keys
Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.
On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.
Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.
Storing coins in online wallets
Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.
There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.
Not keeping a hard copy of your seed phrase
To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.
Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.
Fat-finger error
A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.
One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.
Sending to the wrong address
Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.
This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.
Over diversification
Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.
Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.
Not setting up a stop-loss arrangement
A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.
In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.
That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.
Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.
Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.
Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.
Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.
Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.
Losing your keys
Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.
On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.
Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.
Storing coins in online wallets
Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.
There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.
Not keeping a hard copy of your seed phrase
To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.
Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.
Fat-finger error
A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.
One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.
Sending to the wrong address
Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.
This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.
Over diversification
Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.
Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.
Not setting up a stop-loss arrangement
A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.
In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.
That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.
Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
As we’ve seen over the many years that this rag has been written (and beyond) companies who are able to fund whole teams dedicated to data security have been wholly ineffective at storing that data safely.
With the passage of this new law EU officials are actively putting citizens in harm’s way by irresponsibly trying to force bitcoin users to collect and store each other’s data. This is if you believe that is the actual intention behind this move.
In reality, this move likely serves as a pure intimidation tactic to coerce people to use trusted third parties when transacting with bitcoin.
A heavy handed shove into easily controlled vectors. If too many users are in control of their own private keys, run their own nodes, and are up to date on best privacy practices when transacting it is much harder to stop bitcoin.
And make no mistake, these people want to stop bitcoin at all costs.
They do not want you to be free.
They are quickly losing their grasp of control on the populace and they are moving as quickly as possible to clamp down in an attempt to retain control.
You are not meant to have privacy in their eyes. You are inherently a criminal in their eyes. These people think you are disgusting cattle who needs to be led at every turn.
It does not have to be this way. You do not have to succumb to the madness of these people. All it takes are a few decisions.
Speak up!
Act!
Disobey!
There is a silent majority out there who knows this type of attempted control is inherently wrong.
It is anti-human!
It is evil!
This silent majority needs to begin developing the courage to speak up.
Call out the abject insanity of allowing unelected institutions like the Financial Action Task Force write freedom restricting guidelines that get adopted by governments like the EU.
Learn how to run your own node, how to produce your own private/public key pairs, and how to destroy chain analysis heuristics with privacy best practices.
Make the tyrant’s job as hard as possible!
Disobey!
Stand up and defend freedom in the Digital Age by actively defying their unjust laws.
“If a law is unjust, a man is not only right to disobey it, he obligated to do so.”
It is your duty as an individual to disobey these incredibly invasive and tyrannical “laws”.
If you don’t disobey your progeny may not have the opportunity to. The time to counter punch is right now. Get on it.
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.
Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.
Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.
Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.
Losing your keys
Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.
On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.
Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.
Storing coins in online wallets
Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.
There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.
Not keeping a hard copy of your seed phrase
To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.
Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.
Fat-finger error
A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.
One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.
Sending to the wrong address
Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.
This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.
Over diversification
Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.
Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.
Not setting up a stop-loss arrangement
A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.
In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.
That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.
Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.
Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.
Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.
Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.
Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.
Losing your keys
Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.
On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.
Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.
Storing coins in online wallets
Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.
There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.
Not keeping a hard copy of your seed phrase
To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.
Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.
Fat-finger error
A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.
One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.
Sending to the wrong address
Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.
This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.
Over diversification
Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.
Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.
Not setting up a stop-loss arrangement
A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.
In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.
That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.
Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.
The relative value of any two curren- cies—the exchange rate—is determined through their sale and purchase on the global foreign exchange market. If government policy interferes with this market by changing the relative supply or demand of currencies, the exchange rate is managed.
The trilemma of international finance, is a restriction on government policy that follows immediately from the interaction of exchange rates, monetary policy and international capital flows.
Trilemma of International Finance
The trilemma states that any country can have only two of the following:
(1) Unrestricted international capital markets.
(2) A managed exchange rate.
(3) An independent monetary policy.
If the government wants a managed exchange rate but does not want to interfere with international capital flows, it must use monetary policy to accommodate changes in the demand for its currency in order to stabilize the exchange rate.
In the extreme, this would take the form of a currency board arrangement, where the domestic currency is fully backed by a foreign currency (as in the case of Hong Kong).
In such a situation, monetary policy can no longer be used for domestic purposes (it is no longer independent).
If a country wishes to maintain control over monetary policy to reduce domestic unemployment or inflation, for example, it must limit trades of its currency in the international capital market (it no longer has free international capital markets).
A country that chooses to have both unrestricted inter-national capital flows and an independent monetary policy can no longer influence its exchange rate and, therefore, cannot have a managed exchange rate.
Pieters and Vivanco (2016), government attempts to regulate the globally accessible bitcoin markets are generally unsuccessful, and, as shown in Pieters (2016), bitcoin exchange rates tend to reflect the market, not official exchange rates.
Should the flows allowed by bitcoin become big enough, all countries will have, by default, unrestricted international capital markets.
Thus, with bitcoin, (1)unrestricted international capital markets is chosen by default.
Therefore, the only remaining policy choice is between (2)managed exchange rates or (3)independent monetary policy.
If the country chooses (1) and (2), it must use reactive monetary policy to achieve the managed exchange rate.
If the country chooses (1) and (3), it must have a floating exchange rate because it has no remaining tools with which to maintain a managed exchange rate.
Ali et al. (2014), the European Central Bank (2015) and the Bank for International Settlements (2015) all concur that cryptocur- rencies may eventually undermine monetary policy.
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming→
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things→
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement→
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction→
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes→
How & Why You should Prepare Here are just a few examples of what that sort of total control may look like: Government in total control The government could not only withhold money … Continue reading CBDC’s Tyranny Is Coming
Here is a list of 100 of the best based things: Trust is not based, and relying on trust is unbased. It is foolish to ever trust someone, because the only way to … Continue reading 100 Based things
THE CYPHERPUNK MOVEMENT Let’s make a journey back in time to see where blockchain technology and cryptocurrencies came from. It will take us back to the CypherPunk Movement starting in the 1970’s. Cryptography … Continue reading CypherPunk Movement
The first ever bitcoin transaction from one person to another, on 2009-01-12 at 04:30 used Pay-to-Public-Key (P2PK), when Satoshi Nakamoto sent coins to Hal Finney in Block 170. P2PK is no longer used … Continue reading Block 170 – First ever bitcoin transaction
The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The … Continue reading The Art of War Quotes
BitHouse 