- Blind patriotism encouraging further centralization of mining in America is a regulatory capture trap.
- As of December 2021 the Cambridge Bitcoin Electricity Consumption Index shows 38% of the network hash rate as located in the United States. That is 13% shy of the bare minimum necessary to engage in disruptive activity on the network. Bitcoiners should not be encouraging action and legislation to tip this even closer to that inflection point.
- If Bitcoin is going to succeed, it needs to succeed as a system distributed safely and securely all across the world, not heavily concentrated in America because "America is great."
Central banks across the world are exploring the possibility of developing their own digital currencies, known as CBDCs. In this whitepaper, the authors make the most comprehensive argument against CBDCs to date: CBDCs will erode the distinction between America and authoritarianism.
Global presence of Bitcoin mining activity. All mining locations detected (n = 6062) are mapped by their unique longitude and latitude coordinates.
Valves are an important tool for flow control in fluid or gas networks. We investigate the possibilities to set up valves on the Lightning Network to improve flow control and reduce expected payment failure rates.