nal stak…ecide to accept taxes in PoS tokens and begin staking for themselves instead of converting to fiat? They can fund the OpEx costs in perpetuity with our tax dollars and reinvest all the taxed crypto proceeds and inflationary rewards into additional stake. They would slowly take over the entire network at that rate.
That’s why we are excited to announce the involvement of entertainment legends like Warner Music Group and Ubisoft as well as high growth innovators like Animoca Brands, developers of crypto games including F1 Delta Time and Sandbox.
…opers and consumers alike, including upgradable smart contracts, human-readable security, and more. The protocol is secured via a variant of HotStuff, a Proof of Stake consensus algorithm developed by VMware Research. See the How Flow Works section of our Primer for details.
…ers may not panic at negative 1%, reasoning that the bank is providing a useful service, after all. They may grumble at -3% and start to wonder if their monetary overlords really have it all figured out. At -5% — they pile into gold and start to wonder about that Bitcoin thing.
Negative interest rates are now orthodoxy at virtually all central banks in developed countries. The IMF openly speculates about how to impose ever-deeper negative rates, including the forced depreciation of physical cash. Regardless of whether you believe savers have a divine right to a positive yield, they certainly s…
…for a reelection bid. That was all it took to capture the purportedly nonpolitical Federal Reserve. Hedge funds, in a display of breathtaking paperclip-maximization, now spend millions of dollars on machine learning algorithms predicting interest rates from the eyebrow twitches of our monetary high priests as they read the chicken entrails. Money well spent.
…gly trending towards chaos and an anarchic morass, would unite to tackle this threat. Imagine that! North Korea, Iran, the U.S., China, Russia, and Saudi Arabia all aligned in a common cause. And this is considered one of the best arguments against Bitcoin by its critics.
…s he mined — out of necessity, to support the network when no one else would — were left untouched. To call this effort Promethean is almost painful in its aptness. Satoshi daringly stole the State’s most treasured possession — its right to unencumbered money creation — and gave it to the people in the purest way possible.
And what better role model than Satoshi himself. Satoshi is the ultimate sacrificial hero — he spent an age building Bitcoin from scratch, released the code, ran the project for a brief time, and then stepped away, permanently. The coins he mined — out of necessity, to support the network when no one else would — were left u…