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Issue #609: The Bitcoin Reformation

Issue #609: The Bitcoin Reformation

Nov 8, 2019
Marty's Ƀent

Issue #609: The Bitcoin Reformation

Here's a tour de force from our friend Tuur Demeester, The Bitcoin Reformation. I'm sure some of you have come across it already, but I wanted to resurface it here anyway for the freaks who haven't seen it.

History can teach us a lot about what we're experiencing today. The adage rings true, history doesn't repeat itself, but it certainly rhymes. We humans floating on this round rock in 2019 are certainly more technologically, financially and politically advanced than our ancestors who roamed the planet in the 16th century, but the social dynamics of our time are strikingly similar.

I'm not going to sit here and pretend I can expand on the topic any better than Tuur did in his paper, so go read it when you can. Grow your know on this beautiful Friday afternoon.

If you want to hear this paper discussed in audio format, Tuur and I sat down in August and expanded on this topic a bit. Peep it here:

We really need to diversify here

Our editorial desk here at the Ƀent isn't able to corroborate this information at the moment, but we feel compelled to make a point about mining diversification. Particularly, when it comes to the production of the ASIC chips crucial for mining and the production of the miners themselves.

If the information above is true, something really fishy is going on. It seems that BITMAIN's previously disgraced and marooned founder, Jihan Wu, is back behind the reigns and on a war path that may or may not be supported by the Chinese government. Why do I think the government is involved? Again, this is uncorroborated conjecture, but it seems really weird to me that the Chinese government all of the sudden cares about Intellectual Property and is working with Jihan to punish his former chip designer and the company he started.

Regardless if this is true or not, we really should be working as hard as possible to diversify the mining supply chain away from Asia and to the West. We should take that Green New Deal money and invest in an American foundry. Bitcoin's security will be a national security issue in the future. It's time to start taking this seriously.

Final thought...

Here's a chill Friday song for you.

Enjoy your weekend, freaks.


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