Avatar
Expatriotic
89ccea93718c9cfd21fc56f3037f6892b30467030ba7f1e085651f1bdf4e00b7
XMR=🔗 Help▶️UGMF podcast 🔑▶️CF39 A7C1 D2E1 C8EC Blog▶️https://expatriotic.me Novice▶️Proxmox self-hosting Mining▶️https://wilsonmining.io Paynym▶️https://paynym.rs/+expatriotic

I interviewed for a school in Myanmar too hahaha. Bangkok won out though

GM 🌸

Look up.

Find beauty.

Pardoning people that haven't been indicted or charged with a crime is a boss move.

Well played Biden's autopen.

Well played.

_Good Morning_\

☕ 📖 🌞

# Cryptoeconomics

**by [Erik Voskuil](https://github.com/evoskuil).**\

**The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).**

### Balance of Power Fallacy

- **Power Distribution**: In Bitcoin, power is with miners (transaction selection) and merchants (validity), not balanced but orthogonal.

- **Influence vs. Power**: Merchants influence miners by not buying services; miners influence merchants by not producing. Power can ignore influence, unlike the state's coercion.

- **Defense Against State**: Miners and merchants together defend against state aggression; neither can alone.

- **Individual vs. State**: True balance of power in Bitcoin is between individuals and the state, with resistance to political control.

- **Non-Adversarial Relationship**: Miners and merchants engage in trade, not conflict; tensions are resolved through price.

- **Security Model Misunderstanding**: Belief that centralized mining is secure if merchants are decentralized is flawed; a proof-of-work hard fork by merchants doesn't control miners.

The rest of the summarized chapters are at https://expatriotic.me

Can't stand him. Monero hater too. Uses the NGU retarded take that Monero moves down in price versus Bitcoin. Totally irrelevant metric...

Utility is the only metric.

Replying to Avatar Sergio

🥂

Literally had my hand on this bottle within the last 24 hours

_Good Morning_\

☕ 📖 🌞

# Cryptoeconomics

**by [Erik Voskuil](https://github.com/evoskuil).**\

**The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).**

### Axiom of Resistance

- **Axiom Definition**: An unprovable premise necessary for Bitcoin's design.

- **Satoshi's Insight**: Systems can resist state control, evidenced by P2P networks.

- **Importance**: Essential for Bitcoin's permissionless, censorship-resistant nature.

- **Rejection**: Without this axiom, Bitcoin is misunderstood, akin to PayPal.

- **Historical Context**: Confinity's transition from Bitcoin-like to PayPal illustrates rejecting this axiom.

The rest of the summarized chapters are at https://expatriotic.me

How dare you take me out of nostr to read that.

Never again ser