Bitcoin’s secret sauce

Bitcoin’s secret sauce, and how it works, was on full display these last few weeks. Bitcoin was designed to work against the most powerful of adversaries, and boy – did the adversary show up! China Ban A few months ago, 45% to 75% of Bitcoin mining happened inside China. Then the Chinese government banned it. […]

Governance, Decentralized

Define Governance: the act or process of governing or overseeing the control and direction of something (such as a country or an organization). In this article, I will focus on whether any organization can have decentralized governance, and what does that even mean? And how is this related to cryptocurrencies. Let’s start with a very basic organization, and […]

Defi for the rest of us

DeFi stands for Decentralized Finance. Decentralized: Ideally, any single entity should not be able to stop the process or program or system in question. It’s running on some unstoppable system where anyone can execute operations. Finance: Savings, Loans, Exchanges, Margin Trading, Synthetic Assets (Equities, for example), Lotteries, Insurance, Collateralized Debt Obligations (why not?), and such. […]

So Doge

I will admit something first. Dogecoin is fun. Dogecoin makes you laugh out of sheer joy, despite yourself. Dogecoin sucks you down into a rabbit hole of memes, parodies, and all things not serious. But is everything a joke? Obviously not. So, in that spirit – let’s get serious. Bitcoin is an idea. A meme, […]

Bitcoin cannot be secured by public-key cryptography

Bloomberg columnist Noah Smith wrote an article[1]Bloomberg paywall link. about Bitcoin’s energy consumption. “Blogger” Nic Carter wrote a rebuttal to it. Noah Smith wrote a rebuttal to this rebuttal. Noah’s counter-rebuttal calls for its own rebuttal. Eventually, we will see why the following tweet from Nic follows quite naturally. “Proof-of-stake is just a fancy name […]

On NFT’s

In 1996, a federal mint employee was eating bananas near where US dollar bills were being printed, and a Del Monte sticker on one of the bananas fell into the printing press and got under a transparent layer of a $20 bill. The Del Monte note was created. This particular $20 note is a collectible […]

Bitcoin is Forever

The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime – Satoshi Nakamoto, creator of Bitcoin This goes against the more well understood motto of technology startups: “move fast and break things.” Unlike a startup, or even a big company, Bitcoin doesn’t […]

Craft Beer in Bangalore

IPA beka? IPA, Russian Imperial Stout, Blonde, Hefeweizen, Maibock, Pumpkin Ale, Belgian Tripel, Classic Pilsner, and such: all on tap. Moving back from the US in 2012, one worrying thought at the back of my head was — where do I get good beer in Bangalore? Back in the late 90’s, I often drank unnamed beers on […]