It is from the epithet of a parable, explaining that a fool waits for the stream to stop before crossing, while a wise man forgoes comfort and crosses anyway.
It is a frequently used motto for academic institutions.
Kant answers the question in the first sentence of the essay: “Enlightenment is man’s emergence from his self-incurred immaturity (Unmündigkeit).”
He argues that the immaturity is self-inflicted not from a lack of understanding, but from the lack of courage to use one’s reason, intellect, and wisdom without the guidance of another.
Kant argued that using one’s reason is considered dangerous by most men and all women.
He exclaims that the motto of the Enlightenment is “Sapere aude“! – Dare to be wise!
“Enlightenment is man’s release from his self-incurred tutelage.
Tutelage is man’s inability to make use of his understanding without direction from another.
Self-incurred is this tutelage when its cause lies not in lack of reason but in lack of resolution and courage to use it without direction from another.
Sapere Aude!
‘Have courage to use your own reason!’- that is the motto of enlightenment.”
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
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.
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
Assigning the most powerful supercomputer to mine bitcoin would be comparable to hiring a grandmaster chess player to move a pile of bricks by hand.
The job would get done eventually but the chess player is much better at thinking and playing chess than exerting energy to repetitively move bricks.
Likewise, combining the computing power of the most powerful supercomputers in the world and using them to mine bitcoin would essentially be pointless when compared to the ASIC machines used today.
ASICs are designed to do one thing as quickly and efficiently as possible, whereas a supercomputer is designed to do complicated tasks or math problems.
Since Bitcoin mining is a lottery based on random trial and error rather than complex math, specialization (ASICs)beatsgeneral excellence (supercomputers) everytime.
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
The Great Pyramid of Giza (also known as the Pyramid of Khufu or the Pyramid of Cheops) is the oldest and largest of the pyramids in the Giza pyramid complex bordering present-day Giza in Greater Cairo, Egypt.
Egyptologists conclude that the pyramid was built as a tomb for the Fourth Dynasty Egyptian pharaoh Khufu and estimate that it was built in the 26th century BC during a period of around 27 years.
Initially standing at 146.5 metres (481 feet), the Great Pyramid was the tallest man-made structure in the world for more than 3,800 years.
Over time, most of the smooth white limestone casing was removed, which lowered the pyramid’s height to the present 138.5 metres (454.4 ft).
What is seen today is the underlying core structure. The base was measured to be about 230.3 metres (755.6 ft) square, giving a volume of roughly 2.6 million cubic metres (92 million cubic feet), which includes an internal hillock.
The dimensions of the pyramid were 280 royal cubits (146.7 m; 481.4 ft) high, a base length of 440 cubits (230.6 m; 756.4 ft), with a seked of 5+1/2 palms (a slope of 51°50’40”).
The Great Pyramid was built by quarrying an estimated 2.3 million large blocks weighing 6 million tonnes total.
The majority of stones are not uniform in size or shape and are only roughly dressed.The outside layers were bound together by mortar.
Primarily local limestone from the Giza Plateau was used. Other blocks were imported by boat down the Nile: White limestone from Tura for the casing, and granite blocks from Aswan, weighing up to 80 tonnes, for the King’s Chamber structure.
There are three known chambers inside the Great Pyramid. The lowest was cut into the bedrock, upon which the pyramid was built, but remained unfinished. The so-called Queen’s Chamber and King’s Chamber, that contains a granite sarcophagus, are higher up, within the pyramid structure. Khufu’s vizier, Hemiunu (also called Hemon), is believed by some to be the architect of the Great Pyramid.
Many varying scientific and alternative hypotheses attempt to explain the exact construction techniques.
The funerary complex around the pyramid consisted of two mortuary temples connected by a causeway (one close to the pyramid and one near the Nile), tombs for the immediate family and court of Khufu, including three smaller pyramids for Khufu’s wives, an even smaller “satellite pyramid” and five buried solar barges.
Flavian Amphitheatre a.k.a Colloseum Rome – Italy
The Colosseum (Colosseo[kolosˈsɛːo]) is an oval amphitheatre in the centre of the city of Rome, Italy, just east of the Roman Forum.
It is the largest ancient amphitheatre ever built, and is still the largest standing amphitheatre in the world today, despite its age.
Construction began under the emperor Vespasian (r. 69–79 AD) in 72 and was completed in 80 AD under his successor and heir, Titus (r. 79–81).
Further modifications were made during the reign of Domitian (r. 81–96).
The three emperors that were patrons of the work are known as the Flavian dynasty, and the amphitheatre was named the Flavian Amphitheatre (Latin: Amphitheatrum Flavium; Italian: Anfiteatro Flavio[aɱfiteˈaːtro ˈflaːvjo]) by later classicists and archaeologists for its association with their family name (Flavius).
The Colosseum is built of travertine limestone, tuff (volcanic rock), and brick-faced concrete.
The Colosseum could hold an estimated 50,000 to 80,000 spectators at various points in its history having an average audience of some 65,000; it was used for gladiatorial contests and public spectacles including animal hunts, executions, re-enactments of famous battles, and dramas based on Roman mythology, and briefly mock sea battles.
The building ceased to be used for entertainment in the early medieval era.
It was later reused for such purposes as housing, workshops, quarters for a religious order, a fortress, a quarry, and a Christian shrine.
Although substantially ruined because of earthquakes and stone-robbers (for spolia), the Colosseum is still an iconic symbol of Imperial Rome and was listed as one of the New 7 Wonders of the World.
It is one of Rome’s most popular tourist attractions and also has links to the Roman Catholic Church, as each Good Friday the Pope leads a torchlit “Way of the Cross” procession that starts in the area around the Colosseum.
The Colosseum is also depicted on the Italian version of the five-cent euro coin.
Several walls were built from as early as the 7th century BC,with selective stretches later joined together by Qin Shi Huang (220–206 BC), the first emperor of China.
Little of the Qin wall remains. Later on, many successive dynasties built and maintained multiple stretches of border walls. The best-known sections of the wall were built by the Ming dynasty (1368–1644).
Apart from defense, other purposes of the Great Wall have included border controls, allowing the imposition of duties on goods transported along the Silk Road, regulation or encouragement of trade and the control of immigration and emigration.
Furthermore, the defensive characteristics of the Great Wall were enhanced by the construction of watchtowers, troop barracks, garrison stations, signaling capabilities through the means of smoke or fire, and the fact that the path of the Great Wall also served as a transportation corridor.
The frontier walls built by different dynasties have multiple courses. Collectively, they stretch from Liaodong in the east to Lop Lake in the west, from the present-day Sino–Russian border in the north to Tao River (Taohe) in the south; along an arc that roughly delineates the edge of the Mongolian steppe; spanning 21,196.18 km (13,170.70 mi) in total.
Today, the defensive system of the Great Wall is generally recognized as one of the most impressive architectural feats in history.
As history has left behind, monumental architectural constructions that we can admire and reamain in awe as we look at them, after thousands of years since the first stone was put, in today’s world our digital PoW can be seen and admired the same as the Great Wall of China or the Piramid of Giza !!!
Wich brings us to the question, what is Free talking about ?!?
Long Live the CypherPunksCypherPunks Write CodeGenesisBitcoin Genesis Block Mined 03 January 2009The Times January 3, 2009Bitcoin – Proof Of Work
Bitcoin-type Proof Of Work
In 2009, the Bitcoin network went online. Bitcoin is a proof-of-work digital currency that, like Finney’s RPoW, is also based on the Hashcash PoW.
But in Bitcoin, double-spend protection is provided by a decentralized P2P protocol for tracking transfers of coins, rather than the hardware trusted computing function used by RPoW.
Bitcoin has better trustworthiness because it is protected by computation. Bitcoins are “mined” using the Hashcash proof-of-work function by individual miners and verified by the decentralized nodes in the P2P bitcoin network.
The difficulty is periodically adjusted to keep the block time around a target time.
Since the creation of Bitcoin, proof-of-work has been the predominant design of peer-to-peer cryptocurrency. Studies have estimated the total energy consumption of cryptocurrency mining.
The PoW mechanism requires a vast amount of computing resources, which consume a significant amount of electricity. Recent estimates from the University of Cambridge put Bitcoin’s energy consumption as equal to that of Switzerland.
History modification
Each block that is added to the blockchain, starting with the block containing a given transaction, is called a confirmation of that transaction.
Ideally, merchants and services that receive payment in the cryptocurrency should wait for at least one confirmation to be distributed over the network, before assuming that the payment was done.
The more confirmations that the merchant waits for, the more difficult it is for an attacker to successfully reverse the transaction in a blockchain—unless the attacker controls more than half the total network power, in which case it is called a 51% attack.
2ASICs and mining pools
Within the Bitcoin community there are groups working together in mining pools.
Some miners use application-specific integrated circuits (ASICs) for PoW. This trend toward mining pools and specialized ASICs has made mining some cryptocurrencies economically infeasible for most players without access to the latest ASICs, nearby sources of inexpensive energy, or other special advantages.
Some PoWs claim to be ASIC-resistant, i.e. to limit the efficiency gain that an ASIC can have over commodity hardware, like a GPU, to be well under an order of magnitude.
ASIC resistance has the advantage of keeping mining economically feasible on commodity hardware, but also contributes to the corresponding risk that an attacker can briefly rent access to a large amount of unspecialized commodity processing power to launch a 51% attack against a cryptocurrency.
Plant the Seed The choice is YoursChoose Wisely The Choice is Yours
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
Fear is SicknessGold is Money…Uni-VerseSuccessGenes that erase memoriesResearches can erase painful memories from the brainScientists deletes “Fearful” memories of RatsPokemon Go users give away all privacy rights“Broken People” = Raw MaterialRobert NoyceCompounding InterestSimple & Compound Interest FormulaSimple Interest & Compound InterestPBIS RewardsROI – Return On InvestmentPlay the role of a fool…Occult – Anatomy20 Fastest Growing + Declining JobsCauses and Effects of InflationThe History of LogisticsSSG 16.9 – Legal Identity for allScientists call for Protection from Non-Ionizing Electromagnetic Field ExposureProtest’s are Illegal and punished with Jail Time in a “Free” Society !!!?¿!!!Human Value ChainOpposition to the use of Blockchain Identity– Part 1Opposition to the use of Blockchain Identity– Part 2Human Capital Performance BondStrategies for Investing in Undervalued Human CapitalU.S Army TRADOC G-2Digitizing Government-to-Person (G2P) Payments
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
Autodidacticism (also autodidactism) or self-education (also self-learning and self-teaching) is education without the guidance of masters (such as teachers and professors) or institutions (such as schools).
Generally, autodidacts are individuals who choose the subject they will study, their studying material, and the studying rhythm and time.
Autodidacts may or may not have formal education, and their study may be either a complement or an alternative to formal education.
Many notable contributions have been made by autodidacts.
Features Of AutodidactismBenefits of Being an AutodidactLeonardo da VinciRabindranath Tagore
“My advice, as in everything, is to read widely and think for yourself.
We need more dissent and less dogma.”
Camille Paglia
“For those of you who may be homeschooled: high school is that four-year asylum where they put teenagers because we have no idea what else to do with them.”
Anthony Esolen
“There is nothing to be gained by pretending that academic involvement is necessary, or even always desirable, in the quest for truth and knowledge.”
Christopher Langan
“Drop out of school before your mind rots from exposure to our mediocre educational system.
Forget about the Senior Prom and go to the library and educate yourself if you’ve got any guts.
Some of you like Pep rallies and plastic robots who tell you what to read.
Forget I mentioned it.
This song has no message.
Rise for the flag salute.”
Frank Zappa, liner notes for song “Hungry Freaks Daddy” on the album “Freak Out!“
“That man is intellectually of the mass who, in the face of any problem, is satisfied with thinking the first thing he finds in his head.
On the contrary, the excellent man is he who condemns what he finds in his mind without previous effort, and only accepts as worthy of him what is still far above him and what requires a further effort in order to be reached.”
José Ortega y Gasset, The Revolt of the Masses (1929)
“When brought to the proletariat from the capitalist class, science is invariably adapted to suit capitalist interests.
What the proletariat needs is a scientific understanding of its own position in society.
That kind of science a worker cannot obtain in the officially and socially approved manner. …
For this reason he must be completely self-taught.”
Karl Kautsky
“Only the autodidacts are free.”
Nassim Nicholas Taleb, “Antifragile: Things That Gain from Disorder”
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
Bitcoin is not Abracadabra… but Bitcoin can be Avada Kedavra for the current Banking system!
Bitcoin is not Magic… but it can be for Muggles!
Bitcoin is not an “Investment” … but educating yourself about bitcoin can be!
Bitcoin is not an “Investment”… but knowing the basics and being educated about it, lowers the chances of loosing your hard earned money!
Bitcoin is not an “Investment”… but staking Sats proved to be a preety good Strategy in the Long Term!
Bitcoin is not digital money… but it’s ons of it’s first applications!
Bitcoin is not money… but is Money for the Internet!
Bitcoin is not PRICE !!!
Bitcoin is not PRICE… but the market is driven mostly by FUD & FOMO people
Fear Uncertainty Doubt
bring the market Down
Fear Of Missing Out
bring the market Up
Bitcoin is not a “Get Rich Quick Scheme” and the one’s that got rich were the one’s that were there from the begining…
Bitcoin is not voodoo people, magic people… but a bunch of smart geeks & nerds that support the bitcoin’s philosophy and what it stands for…
Bitcoin is not under no juridstiction… but it is a global p2p network of like-minded people that with the power of their equipment sustain, mantain and make the bitcoin network stronger and more decentralized!
Bitcoin is not a Coin… but an entry in a digital ledger!
Bitcoin is not illegal activity money… but bitcoin can be used in such activity… Reports show that FIAT is still the No. #1 choice for “Evil Doers” as it doens’t have an public, open and visible ledger … Duh…
Bitcoin is not evil… but bitcoin can be used to do evil! As does a Pen! It can be used to do evil! How, you would ask? If I take this ✏ and stick it up your a… who is Evil ?!? The One who invented the pen? The Pen? Me? Your a.. cause it was in the way 🤣 Perspective is a matter of opinion…
Bitcoin is not News… but instead read pools, github, exchanges, wallets… They are the ones that pave the way where bitcoin could, should or would go!
Bitcoin is not DEAD… It was already declared Dead 441 times!
1 – Bitcoin consumes too much electricity, they don’t understand POW!
2 – Bitcoin isn’t a government backed currency, you should ask who backs their government… If the answer is the Army…
3 – Bitcoin isn’t backed by gold like the the US$… Neither is the $ since ’71
4 – Bitcoin isn’t real because I can’t see it… 80% of world’s money is Digital…
5 – Bitcoin isn’t a store of value as good as Gold is… Gold had thousands of years to prove that, bitcoin only 13… give it time! It already proved a lot !!!
6 – Bitcoin’s inventor is annonymous and can’t be trusted… Who invented money then? How do money come up into existance?
7 – Bitcoin will never be largely accepted because it isn’t issued by a government… You know what else wasn’t issued by no government ? Cars, Electricity, Steam Engine, Facebook, Uber, Google, Amazon, etc bla bla bla
8 – Bitcoin can’t be a currency cause I can’t buy anything with it… I think I have shared a list with places that you can buy things with bitcoin…Quite a few!!!
9 – Whales… Beware of yapidi yap of whales cause they say one and do the opposite 🙂 😉 !!!
9 – Bitcoin is not this, bitcoin is not that but they all swarm around the bee’s honeypot as if it were honey 🤣🤣🤣
I forgot…In the meantime, little unsignificant countries like El Salvador, mine bitcoin with 🌋 !!!
And still newspapers, investors that bite their whatever not having invested when it was under $1, and a hole portion of the world are all saying…
Etc bla bla bla Yapidi Yapidi Yap
Never Forget The Golden Rules:
Not Your Keys, Not Your Crypto!!!
Don’t Trust, Verify!!!
Don’t Believe, Do your own Resesearch and due diligence!!!
Save your Wallet’s Mnemonic Phrase in at least 3 places for safe-keeping!!!
WE ARE SATOSHI
When you’re ready…Timothy C. MayHal Finney
Poem of the Legacy
From the ashes of the long forgotten past, A bright mind wrote a code that would for ever last… A code so powerful and strong, That would change the world for oh so long…
The code he wrote and set it free, For the humankind legacy to be… To change the lives of future generations to come, He wrote the code and he was gone…
Oh, bright mind your legacy will last, For generations to come and be thankful about the past… Nobody knows who you might be, Some do and say Kudos to You for Ethernity!
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 … Continue reading The Art of War Quotes→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all … Continue reading What is Bretton Woods ?!?→
“This is a book I want every athlete, aspiring leader, entrepreneur, thinker and doer to read. Ryan Holiday is one of the most promising young writers of his generation.”
George Raveling, Hall of Fame Basketball Coach
“Ryan Holiday is one of his generation’s finest thinkers, and this book is his best yet.”
Steven Pressfield, author of “The War of Art” and “Gates of Fire“
“Ryan Holiday has written a brilliant and engaging book, well beyond his years… It is invaluable.”
Brian Koppelman, screenwriter and director, “Rounders”, “Ocean’s Thirteen” and “Billions”
Ego Is the Enemy
“While the history books are filled with tales of obsessive, visionary geniuses who remade the world in their image with sheer, almost irrational force, I’ve found that history is also made by individuals who fought their egos at every turn, who eschewed the spotlight, and who put their higher goals above their desire for recognition.” – from the Prologue
Many of us insist the main impediment to a full, successful life is the outside world. In fact, the most common enemy lies within: our ego. Early in our careers, it impedes learning and the cultivation of talent. With success, it can blind us to our faults and sow future problems. In failure, it magnifies each blow and makes recovery more difficult. At every stage, ego holds us back.
The Ego is the Enemy draws on a vast array of stories and examples, from literature to philosophy to history. We meet fascinating figures like Howard Hughes, Katharine Graham, Bill Belichick, and Eleanor Roosevelt, all of whom reached the highest levels of power and success by conquering their own egos. Their strategies and tactics can be ours as well.
But why should we bother fighting ego in an era that glorifies social media, reality TV, and other forms of shameless self-promotion? Armed with the lessons in this book, as Holiday writes, “you will be less invested in the story you tell about your own specialness, and as a result, you will be liberated to accomplish the world-changing work you’ve set out to achieve.
RYAN HOLIDAY
Ryan Holiday is a strategist and writer. He dropped out of college at nineteen to apprentice under Robert Greene, author of “The 48 Laws of Power”, and later served as the director of marketing for American Apparel.
His company, Brass Check, has advised clients like Google, TASER, and Complex, as well as many prominent bestselling authors.
Holiday has written four previous books, most recently The Obstacle Is the Way, which has been translated into seventeen languages and has a cult following among NFL coaches, world-class athletes, TV personalities, political leaders, and others around the world.
He lives on a small ranch outside Austin, Texas.
Made with 💚 by Free Spirit
✌ & 💚
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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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
If you love working from home, then you should consider starting an internet based business.
One of the businesses that you can easily start at home with a computer and mining rigs is bitcoin mining.
Simply put, bitcoin is a digital currency that operates independently of any country’s central bank. In order to get an updated value of the worth of a bitcoin, you can make use of Google’s currency converter; it is a reliable platform to know the value of bitcoin each time.
If you are interested in mining bitcoin, then you have two options to follow.
You can choose to mine a block of bitcoins from the computer or you can choose to pool.
If you want quick returns on your investment, then joining a pool is your best option because mining a block of bitcoins from your computer may take you a month or more before you get any return on your investment.
Please note that if you join a pool, you will only get smaller payments, but you can be rest assured that you will get them at a regular basis.
Starting a bitcoin mining business can be rewarding but you would have to compete with other well established bitcoin miners on the World Wide Web. The fact that you will be competing with people from all over the globe is enough reason for you to be result oriented and at the same be creative with your bitcoin mining business.
So, if you have done the required online or offline bitcoin mining related courses, then you might want to venture into this business.
Starting a Bitcoin Mining Business – A Complete Guide
Industry Overview
Bitcoin mining in its simplest term is the practice of adding transaction records to Bitcoin’s public ledger of previous transactions or block chain.
This ledger of previous transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.
As a matter of fact, Bitcoin miners help keep the Bitcoin network secure by approving transactions.
Mining is indeed an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and highly secured.
Bitcoin mining as the name implies is similar to the mining of other commodities: it requires deliberate and calculated effort and it slowly makes new currency available at a rate that looks like the rate at which commodities like gold and copper et al are mined from the ground. Mining is also a mechanism used to introduce Bitcoins into the system.
Bitcoin is a type of digital currency that is created and held electronically; it is a cryptocurrency and a digital payment system that is invented by an unknown programmer, or perhaps a group of programmers. No one controls it.
Unlike Dollars, Euros, Pounds and other currencies, bitcoins are not printed, they are produced by people and businesses running computers all around the world, using software that solves mathematical problems.
If you want to start mining bitcoin, you would need an online wallet where your bitcoins will be stored.
There are several wallet options available online for bitcoin mining. The rule of thumb to follow before choosing an online wallet for your bitcoin mining is to choose a wallet that will allow you save bitcoins, buy bitcoins, use bitcoins and also accept bitcoins as a means of payment.
The Bitcoin (cryptocurrency and a digital payment system) industry is indeed a large internet based industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Nigeria, Sweden, Australia, Japan, China, Germany, and Canada et al.
Despite the fact that the bitcoin mining business is still much of a green business, the business will continue to blossom because more and more users will embrace the use of bitcoins in the nearest future.
So, if you have an entrepreneurial mentality and you wish to join a massive technological revolution, you can start your own bitcoin mining business.
The truth is that you can build a bitcoin mining business even if you are not too ICT savvy and have limited capital to invest in software development and infrastructure, as long as you have internet access and you know how to use the internet.
Some of the factors that encourage entrepreneurs to start their own bitcoin mining business could be that the business is easy to set up and the startup capital is indeed affordable; you can actually start your own bitcoin mining business from the comfort of your house.
All you need to do is to create an office somewhere in your house. You don’t necessarily need to see the people you are doing business with since you can transact bitcoin mining business with clients from any part of the world.
Lastly, starting a bitcoin mining business requires professionalism, advanced mathematics skills and a good grasp of how cryptocurrency and the digital payment system works on a global platform.
Besides, you would need to get the required certifications and license and also meet the required standard for such business before you can be allowed to start a bitcoin mining business in the United States.
Starting a Bitcoin Mining Business – Market Research and Feasibility Studies
Demographics and Psychographics
The demographic and psychographic composition of those who require the services of bitcoin miners are not restricted to bitcoin exchange and trading companies and bitcoin traders, people and organizations that make online transactions in your immediate community or state, but it cuts across people on the cyber space who make use of bitcoins from all over the world.
This is so because bitcoin is a cryptocurrency and a digital payment system used basically on the internet hence the leverage to work for people and organization all across the globe.
So, if you are looking towards defining the demographics of your bitcoin mining business, you should make it all encompassing. It should include bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States.
List of Niche ideas Within the Bitcoin Mining Business That You Can Specialize in
Most bitcoin mining companies tend to operate the general bitcoin mining business that a standard bitcoin mining poll/company is expected to offer, that is why it seems like there are no niche areas in the industry.
But on the other hand, some bitcoin mining company may decide to major in some key areas such as:
Bitcoin cloud mining
Bitcoin cloud hashing
Providing other related bitcoin, cryptocurrency and digital payment system consulting and advisory services
The Level of Competition in the Bitcoin Mining Services Industry
The level of competition in the cryptocurrency and a digital payment system industry does not in any way depend on the location of the business since most people that mine bitcoin can operate from any part of the world and still effectively compete in the bitcoin mining line of business cum cryptocurrency and a digital payment system industry.
When it comes to bitcoin mining, distance is never a barrier when competing for clients especially international clients.
What most clients want is result, hence they are ready to make use of bitcoin miners or bitcoin mining platforms no matter the part of the world they operate from as long as they have good track record and can deliver excellent results when it comes to mining and selling bitcoins to them.
There are several bitcoin miners and bitcoin mining pools scattered all around the United States and in the cyber space.
So, if you choose to start your own bitcoin mining company in the United States, you will definitely meet stiffer competitions not only amongst bitcoin mining companies in the United States, but also all over the globe especially if you choose to specialize in cryptocurrency and digital payment system.
List of Well – Known Brands in the Bitcoin Mining Business
In every industry, there are always brands that perform better or are better regarded by customers and the general public than others. Some of these brands are those that have been in the industry for a long time, while others are best known for the results they deliver.
These are some of the leading bitcoin mining companies (bitcoin mining pools) in the United States of America and also in the globe:
Economic Analysis
As an ICT aspiring entrepreneur who is looking for a business that requires programming and mathematics skills and perhaps minimal startup capital to start, then you can consider starting a bitcoin mining pool.
The cost of running a standard bitcoin mining pool when compared to the turnover you get can be poles apart (this is applicable when you have been able to establish your feet in the industry).
One thing is certain when it comes to the bitcoin mining business and most internet based businesses, you are sure of making profits when you successfully produce results that are measurable.
As a matter of fact, the cost of running the business from start to finish could be restricted to the cost of making phone calls, transportation and internet subscriptions, PR and of course bitcoin mining and hashing hardware and software et al.
Starting Your Bitcoin Mining Company from Scratch vs Buying a Franchise
When it comes to starting a business of this nature, it will pay you to start from the scratch as against buying a franchise.
First and foremost, it is your ability to mine or hash bitcoin that matters not a brand name.
Except you want to join a well-established bitcoin mining pool that fits into your business ideology.
Unfortunately, you can hardly find a franchise of a bitcoin mining pool – company to purchase meaning that if you want to own a bitcoin mining (pool) business, then you must be ready to start from the scratch.
This is so because the business is easy to start if you have the required expertise and it is still pretty much thriving and there are loads of opportunities available to aspiring entrepreneurs that are interested in the industry.
The truth is that it will pay you to start your bitcoin mining company from the scratch. Starting from the scratch will afford you the opportunity to conduct thorough market survey and feasibility studies before choosing a location to launch the business.
Please note that most of the big and successful bitcoin mining companies around started from the scratch and they were able to build a solid business brand.
Possible Threats and Challenges You Will Face When Starting a Bitcoin Mining Business
If you decide to start your own bitcoin mining business today, one of the major challenges you are likely going to face is the presence of well – established bitcoin mining companies who are offering same services that you intend offering. The only way to avoid this challenge is to create your own market.
Some other threats that you are likely going to face as a bitcoin mining company operating in the United States are hosting issues, installation or upkeep troubles, heat, unfavorable government policies, and global economic downturn which usually affects purchasing/spending power. There is hardly anything you can do as regards these threats other than to be optimistic that things will continue to work for your good.
Starting a Bitcoin Mining Business – Legal Matters
Best legal entity to use for this type of business
Generally, you have the options of either choosing a general partnership, limited liability company which is commonly called an LLC, or a sole proprietorship for a business such as a bitcoin mining company.
Ordinarily, general partnership should have been the ideal business structure for a small – scale bitcoin mining business especially if you are just starting out with moderate startup capital.
But people prefer limited liability Company for obvious reasons. As a matter of fact, if your intention is to grow the business and have clients both corporate and individual from all across the United States of America and other countries of the world, then choosing general partnership is not an option for you. Limited Liability Company, LLC will be highly suitable for you.
Setting up an LLC protects you from personal liability. If anything goes wrong in the business, it is only the money that you invested into the limited liability company that will be at risk. It is not so for sole proprietorships and general partnerships. Limited liability companies are simpler and more flexible to operate and you don’t need a board of directors, shareholders meetings and other managerial formalities.
These are some of the factors you should consider before choosing a legal entity for your bitcoin mining (pool) business; limitation of personal liability, ease of transferability, admission of new owners, investors’ expectation and of course taxes.
If you take your time to critically study the various legal entities to use for your bitcoin mining business, you will agree that limited liability company; an LLC is most suitable. You can start this type of business as limited liability company (LLC) and in future convert it to a ‘C’ corporation or an ‘S’ corporation especially when you have the plans of going public.
Catchy Business Name ideas Suitable for a Bitcoin Mining Company
Generally, when it comes to choosing a name for a business, it is expected that you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. Usually it is the norm for people to follow the trend in the industry they intend operating from when naming their business.
Insurance Policies
In the United States and in most countries of the world, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. So, it is imperative to create a budget for insurance policy covers and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your bitcoin mining business.
Here are some of the basic insurance policy covers that you should consider purchasing if you want to start your own bitcoin mining business in the United States of America:
General insurance
Health insurance
Liability insurance
Workers compensation
Overhead expense disability insurance
Business owner’s policy group insurance
Payment protection insurance
Intellectual Property Protection/Trademark
If you are considering starting your own bitcoin mining business, usually you may not have any need to file for intellectual property protection/trademark. This is so because the nature of the business makes it possible for you to successfully run the business without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.
Is Professional Certification Needed to Run a Bitcoin Mining Business?
Apart from the results you produce, professional certification is one of the main reasons why most bitcoin mining companies stand out.
If you want to make an impact in the Bitcoin industry, you should work towards acquiring all the needed certifications in your area of specialization.
Certification validates your competency and shows that you are highly skilled, committed to your career, and up-to-date in this competitive market.
These are some of the certifications you can work towards achieving if you want to run your own bitcoin mining company:
Certified Bitcoin Professional (CBP) | Crypto Currency Certification
Blockcerts Certification
Cryptocurrency certification
Ethereum certification
Blockchain professional certification
List of Legal Documents You Need to Run a Bitcoin Mining Company
These are some of the basic legal documents that you are expected to have in place if you want to legally run your own bitcoin mining business in the United States of America:
Certificate of Incorporation
Business License and Certification
Business Plan
Non – disclosure Agreement
Employment Agreement (offer letters)
Operating Agreement for LLCs
Insurance Policy
Contract documents
Online Privacy Policy Document (basically for online payment portal)
Company Bylaws
Memorandum of Understanding (MoU)
Apostille (for those who intend operating beyond the United States of America)
Financing Your Bitcoin Mining Company
Aside from the amount required to purchase bitcoin mining software and hardware, bitcoins and of course cryptocurrency and other forms of digital payment required to trade with, starting a bitcoin mining business can be cost effective especially if you choose to run the business from your home, share office space with a friend or make use of a virtual office.
Securing a standard office is part of what will consume a large chunk of your startup capital, but if you choose to start the business on a small scale, you may not have the need to go source for fund to finance the business.
When it comes to financing a business, one of the major factors that you should consider is to write a good business plan.
If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business.
Here are some of the options you can explore when sourcing for start – up capital for your bitcoin mining/trading business:
Raising money from personal savings and sale of personal stocks and properties
Sell of shares to interested investors
Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors
Source for soft loans from your family members and your friends
Choosing a Suitable Location for your Bitcoin Mining Business
Bitcoin mining business and most internet service based type of businesses do not require that you see physically with your clients, hence the location you chose does not necessarily need to be top-notch.
But the fact that you can operate your bitcoin mining business from your home does not mean that location has little influence on the success of a bitcoin mining company.
If you have taken your time to study the bitcoin mining and other internet based businesses, you will realize that they are willing to pay expensive rents in order to stay in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.
It is important to note that a business facility in a good location does not come cheap hence you should be able to allocate enough fund for leasing/renting in your budget.
If you are new to the dynamics of choosing a location for a business such as bitcoin mining business, then you should feel free to talk to a business consultant or a realtor who has a full grasp of the city and perhaps country you intend starting your company.
So, if you are looking for a location for your bitcoin mining company, ensure that it is a place that is located in an ICT hub; a place with pretty strong internet network and of course a place where ICT activities are at its peak.
Of course, you would not want to locate this type of business in the outskirts of town or a place without strong internet network. Your clients should be able to drive down and locate your office with little or no difficulty.
Starting a Bitcoin Mining Business – Technical and Manpower Details
In order to successfully launch a bitcoin mining business, you will definitely need bitcoin mining software apps and hardware such as Application-specific integrated circuit (ASIC) machines and other cryptocurrency and digital payment system related software apps and wallet.
So also, you will need computers, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves).
When it comes to choosing between renting and leasing an office space, the size of the bitcoin mining company you want to build, and your entire budget for the business should influence your choice.
If you have enough capital to run a standard bitcoin mining company, then you should consider the option of leasing a facility for your office.
As regards the number of employees that you are expected to kick start the business with, you would need to consider your finance before making the decision.
Averagely, you would need a Chief Executive Officer or President (you can occupy this role), an Admin and Human Resource Manager, Bitcoin Miners and Hashers, Programmers and Software Developers, Business Development Executive/marketing Executive, Customer Service Officer or Front Desk Officer, and Accountant.
Over and above, you would need a minimum of 8 key staff to effectively run a medium scale but standard bitcoin mining company.
Please note that there will be times when you are expected to go out of your way to hire experts to help you handle some high – profile internet based currency consultancy contracts especially from big corporations.
If you are just starting out, you may not have the financial capacity or required business structure to retain all the professionals that are expected to work with you which is why you should make plans to partner with other programmers and software app developers and computer engineers that operates as freelancers.
The Service Delivery Process of a Bitcoin Mining Company
It is the tradition in the cryptocurrency industry for bitcoin miners to help keep the Bitcoin network secure by approving transactions.
The truth is that mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.
In the cryptocurrency and other forms of digital payment system industry, bitcoin miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart process of issuing the currency and also creates an incentive for more people to mine.
For instance, when a block is discovered, the miners are rewarded a certain number of bitcoins, which is agreed-upon by everyone in the network.
Currently the reward is 6.25 bitcoins and this value will halve every 210,000 blocks.
Additionally, the bitcoin miner is awarded the fees paid by users sending transactions. The fee is an incentive for the bitcoin miner to include the transaction in their block.
It is important to state that a bitcoin mining (pool) company may decide to improvise or adopt any business process and structure that will guarantee them efficiency and flexibility; the above stated business cum services process is not cast on stone.
Starting a Bitcoin Mining Business – The Marketing Plan
Marketing ideas and strategies
As a bitcoin mining company, you would have to prove your worth over and over again before you can be awarded any bitcoin mining and hashing contracts from corporate clients.
So, if you have plans to start your own bitcoin mining company, it will pay you to first build a successful career in the digital payment system industry.
People and organizations will hire your services to help them handle all their bitcoin mining and hashing needs if they know that they are going to get good returns on their investment.
So, when you are drafting your marketing plans and strategies for your bitcoin mining company, make sure that you create a compelling personal and company profile.
Aside from your qualifications and experience, it is important to clearly state in practical terms what you have been able to achieve in time past as it relates to the cryptocurrency industry and the organizations you have worked for in time past.
This will help boost your chances in the market place when sourcing for bitcoin mining and hashing contracts.
Businesses these days are aware of the power of the internet and which is why they will do all they can to maximize the internet to market their services.
In other words, a larger percentage of your marketing efforts should be directed to internet users.
Here are some of the platforms you can utilize to market your bitcoin mining company:
Introduce your business by sending introductory letters alongside your brochure to all the bitcoin exchange and trading companies and bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States
Promptness in bidding for bitcoin mining and hashing contracts from bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet – business oriented people and organizations within and outside the United States
Advertise your business in relevant programming magazines, radio and TV stations (make yourself available for bitcoin mining and cryptocurrency related talk shows and interactive sessions on TV and Radio)
List your business on local directories
Attend international bitcoin mining and cryptocurrency related seminars and business fairs
Create different packages for different category of clients in order to work with their budgets
Join related associations around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks
Engage the services of online marketing executives and business developers to carry out direct marketing
Factors That Will Help You Get the Right Product Pricing
Some of the key factors that will help you mine or hash bitcoin in a profitable pricing system is to ensure that you work with highly talented programmers and mathematicians in your bitcoin mining pool.
You should also ensure that you get your bitcoin mining software and hardware at good deal not forgetting to run your maintenance as at when due.
Another strategy that will help you offer your bitcoin mining and hashing services at the right price is to ensure that you cut operational and maintenance cost to the barest minimum, and channel your efforts towards marketing and promoting your brand name.
Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products.
Strategies to Boost Your Bitcoin Mining Brand Awareness and Create Your Corporate Identity
If your intention of starting a bitcoin mining company is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand.
In promoting your brand and corporate identity, you should leverage on both print and electronic media and also social media (the internet).
As a matter of fact, it is cost effective to use the internet and social media platforms to promote your brands, besides it is pretty much effective and wide reaching.
Another strategy is to sponsor relevant programmer/ICT based programs, TV and radio programs, advertise your business in relevant magazines and newspapers. Below are the platforms you can leverage on to boost your brand and to promote and advertise your business.
Place adverts on ICT magazines and related newspapers, radio and TV stations
Encourage the use of word of mouth publicity from your loyal customers
Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote your business
Ensure that you position your banners and billboards in strategic positions all around your city
Distribute your fliers and handbills in target areas in and around our neighborhood
Contact bitcoin exchange and trading companies cum bitcoin traders, programmers, investors, and internet – business oriented people and organization within and outside the United States by calling them up and informing them of your organization and the bitcoin mining and hashing services you offer
Advertise your business in your official website and employ strategies that will help you pull traffic to the site
Brand all your official cars and ensure that all your staff members wear your branded shirt or cap at regular intervals.
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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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
Timothy May on the cover of the second issue of Wired magazine with 2 fellow cypherpunks
Sadly, this past week we lost an icon that helped to spur the cypherpunk movement. Timothy May, who wrote The Crypto Anarchist Manifesto in 1988, lauched a movement that is still very prominent today.
For the uninitiated, a Crypto-Anarchist focuses on subverting the current laws and using new technologies to the benefit of the common man.
In the original manifesto, May says crypto-anarchy focuses on “encryption, digital money, anonymous networks, digital pseudonyms, zero-knowledge, reputations, information markets, black markets, collapse of governments”.
The manifesto was written just before the first crypto wars began during the early 1990’s.
The governments of the world fiercely opposed the general public using cryptographic encryption protocols.
The idea that a normal citizen could completely hide what they say in an electronic message was their biggest concern.
The governments cited national security as a concern (We’ve heard this excuse used many times before).
RSA Security, a leading computer securty company founded by world-renowned cryptologists, created this poster against a hardware chip that used a US-government supplied encryption standard
The legislation of the anti-encryption laws would also affect payment processing technology. There was a large push back from tech companies that would have to deal with these issues first-hand.
The crypto wars of the 1990’s ended with the concession from the government that encryption was readily available around the world.
The public had won their first bout against the government surveillance state. Alongside the public, you had the cypherpunks and large tech companies that were all fighting a common threat.
There was not much of an issue in terms of encryption for quite a few more years.
Every few years afterward, the idea of backdoors into encryption schemes were brought up but nothing ever came about these new ideations.
The Crypto Wars Redux
The expansion of computational power and development of more efficient processing equipment closed the gap as to who can gain access to encryption software.
The widespread availabilty of software/hardware that can perform these cryptographic calculations involved in encryption and the ease of use has made it possible for the layman to encrypt their own personal messages, video calls,emails, and notes.
Encrypting an email with someone who has never imported a key to their keyring, or generated their own PGP public/private key pair is a thing of the past.
Many of the services that exist today offer these solutions out of the box. The process has become much easier for all parties involved.
Anyone that is now using this technology benefits from this on a privacy and security level.
With all parties benefitting, the leviathan rears its head once more. Australia has passed an anti-encryption bill that will force large tech companies to allow the Australian government to obtain hardware access(citing national security as a major reason).
Outrage has spilled out of the larger tech companies. The end-to-end zero knowledge messaging/calling app, Signal, has taken a stand against this bill.
This sounds very similar to the issues Tim May was battling with during the early days of the First Crypto War.
The cypherpunks came out on top and I’m sure this legislation will face a similar fate.
May’s Impact on the World
The imprint that Timothy May left on the world is profound. The mass adoption of encryption as well as cryptocurrencies shows just how far ahead of the times he was.
May urged the importance of privacy.
He insisted on the use of encryption to keep your communications private.
Currently on a majority of mobile phones there are applications that provide encrypted communications. Whatsapp uses the Signal protocol which was developed by cypherpunk Moxie Marlinspike.
The rise of cryptocurrencies is an ideal that May was very hopeful for.
May did come out against the anti-privacy issues of bitcoin.
There are projects that offer solutions for this privacy debate.
Much of the developer-base of these certain cryptocurrencies have their foundation based in the cypherpunk tradition.
The Cryptocurrencies that aim for a privacy by default mechanism are monero and the soon to launch GRIN which uses the Mimblewimble Protocol (To see an extremely entertaining introduction to the GRIN project via talk-to-text chat for privacy preservation, listen to the creator of Grin).
Zcash is moving in the direction of private by default and the superior cryptography of the ZK range proofs will help to create a very private cryptocurrency.
Cody WIlson and Amir Taaki who worked on projects focused on the crypto-anarchic tradition including Dark Wallet and Defense Distributed
The impact Tim May made on the world by helping to create a social movement shows the importance and strength of his ideals.
He has impacted a generation of people that are growing up in the digital age.
He influenced builders in the 21st century.
You have people creating new currencies, exposing government surveillance on a national scale, circumventing the broken bueracratic system by creating their own markets, anonymous internet protocols, as well as making encryption applicable to the common man (You can find a list of prominent cypherpunks here and also here).
There isn’t enough that can be said about the applications in which he believed could positively affect us.
May was cognizant of the encroaching all-seeing eye of the state but I believe we are in much better shape now than we’ve ever been.
There may be negative news about what we currently face as individuals, from the unprecedented surveillance of the Snowden leaks to the aforementioned Australian anti-encryption bill, but looking at the grand scheme of our daily lives, these tools and their functions have helped to create a much better day than May could have imagined in 1988.
He was a proponent for the industriousness of human nature to outpace the slow moving regulation that would try to bog down any progress.
You can listen here to what he thought people/creators should do when they develop ground breaking technology.
Arise, you have nothing to lose but your barbed wire fences!
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 … Continue reading The Art of War Quotes→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all … Continue reading What is Bretton Woods ?!?→
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→
What Is Inflation? 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 … Continue reading Learn about Inflation Folks!→
Hy there my fellow citizens of this amazingly beautiful Mother Earth of… Not Ours !!! We tend to forget that and treat it as if we would have another habitable sphere on wich … Continue reading Free Spirit’s Library→
The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton … Continue reading What is Bretton Woods ?!?→
A smart contract is a computerized transaction protocol that executes the terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, … Continue reading Smart Contracts by Nick Szabo-1994→
BitHouse 