Gigi @[email protected]

I'm currently working on my second book, 21 Ways. It will be released under an open and permissive cc-by-sa license, just like 21 Lessons.

You can support me on Patreon https://patreon.com/dergigi or directly via bitcoin: https://dergigi.com/support/

If you want your daily dose of bullish bitcoin quotes this little side-project of mine is for you:

https://www.bitcoin-quotes.com

Bitcoin is a relentless teacher.

I did my best to gather some of the best books, articles, podcasts, and other resources that were helpful to me.

https://bitcoin-resources.com/

I wrote a book on Bitcoin. You can read it online for free. You can also buy it. Or you can listen to it.

https://21lessons.com/

Surveillance renders all other freedoms useless.

13/ "Bitcoin Is Time" is one chapter of my upcoming book, 21 Ways. You can support me and follow along here:

https://bitcoinhackers.org/@dergigi/105545025769523663

12/ Thanks to everyone who helped with this piece: @Croesus_BTC, @FriarHass, @citizenbitcoin, @skwp, @joernroeder, @SwanBitcoin - and thanks to all my supporters. I wouldn't be able to do this without you.

11/ I hope you have enjoyed this time-centered view on Bitcoin. The next time someone asks what Bitcoin is, simply answer: "It is time."

10/ By creating a novel definition of time, Satoshi managed to solve an otherwise intractable coordination problem in our relativistic universe: agreeing on the order of things on a global scale.

9/ The difficulty adjustment makes sure that Bitcoin's time and our time stay in sync. It is the probabilistic metronome that orchestrates the intricate dance of the network.

8/ This intricate dance of coordination creates a moment in time that every node can verify for itself. It can trust, with a very high probability, that this is what actually happened in the past.

7/ Bitcoin uses SHA-256 and digital signatures as its causal building blocks and the ever-changing interactions of its peers, as well as the randomness of PoW as its source of entropy.

6/ Bitcoin creates its own sense of time using two essential building blocks: causality and unpredictability. Causal links are settling the past. Unpredictable events are opening the doors to the future. The chain tip is the eternal now.

5/ A decentralized system can't rely on our human concept of time. A trustless, non-local time is required. Trustless, because we must not introduce a third party. Non-local because we don't have the luxury of a central frame of reference.

4/ In the informational realm, only ledgers exist. And to make sure that transactions on a ledger are in order, a concept of time is required. In other words: Tokens are timeless, ledgers are not.

3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.

2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.

1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to be.

https://www.swanbitcoin.com/bitcoin-is-time

I'm currently working on my second book, 21 Ways. It will be released under an open and permissive cc-by-sa license, just like 21 Lessons.

You can support me on Patreon https://patreon.com/dergigi or directly via bitcoin: https://dergigi.com/support/