Controlled Supply

Bitcoin

“A fixed money supply, or a supply altered only in accord with objective and calculable criteria, is a necessary condition to a meaningful just price of money.”

Fr. Bernard W. Dempsey, S.J. (1903-1960)

In a centralized economy, currency is issued by a central bank at a rate that is supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. The monetary base is controlled by a central bank. In the United States, the Fed increases the monetary base by issuing currency, increasing the amount banks have on reserve or by a process called Quantitative Easing.

In a fully decentralized monetary system, there is no central authority that regulates the monetary base. Instead, currency is created by the nodes of a peer-to-peer network.

The Bitcoin generation algorithm defines, in advance, how currency will be created and at what rate. Any currency that is generated by a malicious user that does not follow the rules will be rejected by the network and thus is worthless.


Currency with Finite Supply


Block reward halving
Controlled supply

Bitcoins are created each time a user discovers a new block. The rate of block creation is adjusted every 2016 blocks to aim for a constant two week adjustment period (equivalent to 6 per hour.)

The number of bitcoins generated per block is set to decrease geometrically, with a 50% reduction every 210,000 blocks, or approximately four years. The result is that the number of bitcoins in existence will not exceed slightly less than 21 million.

Speculated justifications for the unintuitive value “21 million” are that it matches a 4-year reward halving schedule; or the ultimate total number of Satoshis that will be mined is close to the maximum capacity of a 64-bit floating point number. Satoshi has never really justified or explained many of these constants.

Cumulated bitcoin supply

This decreasing-supply algorithm was chosen because it approximates the rate at which commodities like gold are mined. Users who use their computers to perform calculations to try and discover a block are thus called Miners.





Mother Nature Quotes

Joseph Werner: Diana of Ephesus as allegory of Nature, c. 1680

Mother Nature (sometimes known as Mother Earth or the Earth Mother) is a personification of nature that focuses on the life-giving and nurturing aspects of nature by embodying it, in the form of the mother.

Mother Nature image, 17th century alchemical text, Atalanta Fugiens

The word “nature” comes from the Latin word, “natura”, meaning birth or character (see nature (philosophy)). In English, its first recorded use (in the sense of the entirety of the phenomena of the world) was in 1266. “Natura” and the personification of Mother Nature were widely popular in the Middle Ages.

As a concept, seated between the properly divine and the human, it can be traced to Ancient Greece, though Earth (or “Eorthe” in the Old English period) may have been personified as a goddess. The Norse also had a goddess called Jörð (Jord, or Erth).


“… Mother Nature is punishing us, …, for our greed and selfishness.

We torture her at all hours by iron and wood, fire and stone.

We dig her up and dump her in the sea.

We sink mine shafts into her and drag out her entrails – and all for a jewel to wear on a pretty finer.

Who can blame her if she occasionally quivers with anger?”

Pliny, Pg. 176 – Robert Harris, Pompeii


“Harmony is about bringing things into balance and knowing how to go from sunrise to sunset.

Mother Nature teaches this to us, in so many ways, each and every day.”

Jaeda DeWalt


“Those who train their hearts in natural wonder shall forever know the rivers, forests, wildflowers, and oceans, as friends.”

Atalina Wright, ‎”Wild Riverbanks”


“Nature isn’t cruel, but unconcerned with human frailty.”

Melissa Febos

“The simplicity of life is universal. Mother Nature is a wonderful teacher.”

Steve Leasock

“Autumn is the time of year when Mother Nature says, “Look how easy, how healthy, and how beautiful letting go can be.”

Toni Sorenson

“The Earth is nothing but phlegm spat out by the Sun, and our immediate solar system a whirlwind of boulders.

There is no “delicate balance.”

A.E. Samaan, From a “Race of Masters” to a “Master Race”: 1948 to 1848

If you can’t be in awe of Mother Nature, there’s something wrong with you.

Alex Trebek

“Only after the last tree has been cut down.

Only after the last river has been poisoned.

Only after the last fish has been caught, only then will you find that money cannot be eaten.”

Cree Indian Prophecy

“Earth provides enough to satisfy every man’s needs, but not every man’s greed.”

Mahatma Gandhi

“Look deep into nature and then you will understand everything better.”

Albert Einstein

“Nature does not hurry, yet everything is accomplished.”

Lao Tzu

“Nature is man’s teacher.

She unfolds her treasures to his search, unseals his eye, illumines his mind, and purifies his heart; an influence breathes from all the sights and sounds of her existence.”

Alfred Billings Street

“We are all visitors to this time, this place.

We are just passing through.

Our purpose here is to observe, to learn, to grow, to love, and then we return home.”

Australian Aboriginal

“The world is not to be put in order.

The world is order, incarnate.

It is for us to put ourselves in unison with this order.”

Henry Miller

“O Nature, gracious mother of us all,
Within thy bosom myriad secrets lie
Which thou surrenderest to the patient eye
That seeks and waits.”

Margaret Junkin Preston

“Nature, like a loving mother, is ever trying to keep land and sea, mountain and valley, each in its place, to hush the angry winds and waves, balance the extremes of heat and cold, of rain and drought, that peace, harmony and beauty may reign supreme.”

Elizabeth Cady Stanton

“The world will burn for a hundred years.

Fire will consume the things we made from wood and plastic and rubber and cloth, then water and wind and time will chew the stone and steel into dust.

How baffling it is that we imagined cities incinerated by alien bombs and death rays when all they needed was Mother Nature and time.

Rick Yancey





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