Blockchain sees Bitcoin as an experiment.

Note: The author of the original article is Jimmy Song, the Bitcoin developer who has supported the Bitcoin launch project since 2013. In addition, Jimmy Song is also one of the most well-known Bitcoin maximalists, is like "Altcoin" in this article will be translated as "altcoin" and will be replaced by "altcoin".

Next week, another altcoin lost a lot of money in security holes.

There are a lot of comments like this, so I put them in the "Quick View" section. To be honest, I'm sick of commenting on these scams, bad or incompetent. But I am an exception to ThorChain. Created by Erik Voorhees, Erik is also a tough character who is considered to be the villain defending the hero of Bitcoin history. A character who is still a hero or a character).

Erik was a Bitcoin supremacist before he became an altcoin sponsor, as evidenced by an announcement he wrote on Reddit seven years ago.

“Altcoins are a cheap commodity in the Bitcoin world, and perhaps their greatest advantage is that even the most avid Bitcoin prospect himself can be listened to. Is it possible ? Yes. The human body has already been seen (Bitcoin itself).

He behaved this way back then, but in 2015 when he had a great idea for the business: How to Trade Other Altcoins Without Escrow - Shapeshift (I have to admit that's a good idea), his behavior has changed.

Unfortunately, Erik's company found nothing good in it. He has been an advocate for altcoin ever since. Upton Sinclaire says:

"If a person who can get a check doesn't understand their job, it is difficult for them to understand their job."

Erik understands, but decides to do it anyway.

Its assault on Bitcoin in 2017, including promoting the 2x (scaling) protocol, and persuaded all communities to embrace it. He claims to represent the users because he's the CEO of the company, and the users obviously think differently. He is no longer part of the Bitcoin community, he knows that, but he acts like he is himself.

Unlike Wences Cesares and Bobby Lee, who later apologized for their role in 2x, Erik never apologized for his actions and acted like an abandoned lover who rejected his power farce after he started criticizing Bitcoin.

Erik then took over ThorChain in April of this year, writing an article about his baby ThorChain. "Deficiencies are a big part of the reason why these early plans fail," he said.

Here the starting point is Mt. He talks about exchanges like Gox (released in 2014). Of course, we are now seeing millions of dollars lost in the ThorChain security crisis. This makes (Erik) sound like a jerk, but you better know that the ThorChain event isn't the first thing that happens on the exchange. A hacker attack in early 2016 caused our security breach on its ShapeShift.

Having said that, Erik Voorhees is a proud man. He denies that what he does is thought provoking and does not contribute to success. To be honest, it took a while to find the soul, and unfortunately Erik didn't or didn't do it well. Find out about ThorChain's "response" to criticism, especially the most critical.

He took the 2010 incident as his "defense". He will not be held responsible for the security incident and he will not deny that he was injured. This man does not seem to know how to admit he is wrong, and that is the nature of his behavior.

Unfortunately, I like Erik. We have known each other since 2014 and have met several times. He was passionate about freedom and truly believed in what he did. He also sent engineers to study my studies and also sent me some books. But bad parts can do good. In this case, the bad coin is any altcoin it is upgrading. His harsh criticism of Bitcoin, especially the Bitcoin community, is proof of this.

bitcoin development

If you're wondering what else to root, Michael Folkson provides titles to read on what Core developers should plan for. There will be a key developer meeting to discuss what supporting the Taproot ecosystem will look like and how we can help developers going forward. The developers will hold a conference on July 20, which will be announced on YouTube.

Matt Bell has recommendations for the Proof of Stake (PoS) side chain. The idea is that merge mining sidechains like the Drivechain concept (BIP300) require additional proof from miners and a tax on each node, but there are some similarities between Proof of Stake (PoS) is not Bitcoin. The side chains for the key chains are still in the government body. Clearly there will be a reduction even if 2/3 of the terrorist organizations. The idea of ​​this organization is to remember the Liquid sidechain, but with fair and efficient procedures.

Minimint is an experimental Bitcoin-based Chaumian treasury project that has strong privacy and uses cash as heavy as cash. It would be another kind of 2-layer solution, where the middle would be a type of bank that could convert Chaumian currency to Bitcoin at any time. And the great thing about this job is that even though it is centralized, there is no central office to know who pays who. It is not clear if this is a compromise between market demand (risk hedging in exchange for private equity), but it is a project vision.

SuredBits released the DLC wallet and the Oracle app. The DLC has a simple Oracle-based trust model, so it's a good step towards building an interesting app on top of Bitcoin. Unlike all "DeFi" which doesn't reveal a lot of hidden dangers, the DLC is more realistic and clear on what the user should trust. Of course, there is currently no capital in this market and its growth will be very slow due to the limitations, but in the long run it will be a big task.

Lightning Network

Rene Pickhardt, a new Lightning Network author who specializes in reliable and affordable payment systems, is well known in the Flash List. Most modern software uses simple and easy routing algorithms without using some of the features available on the network, such as multiple payments. This research must become an integral part of the development of the Lightning network and infrastructure.

Jeff Wilser has written an excellent article describing the Lightning Network and Layer 3. The Layer 3 infrastructure, waterproof AI, is interesting. Transmission, VP N, etc. can be used on this platform that makes every node in the Lightning Network both server and client, and the dream of Internet access is uninterrupted. The fusion seems to have formed before our eyes.

Roy Scheinfeld of Breez explains how Canadian company Victoria Kayak deals with the Lightning Network. This article will help you get a feel for some of the companies that are starting to take Bitcoin seriously. Bitcoin will ultimately benefit them as the Lightning network is designed and optimized.

Economics, engineering, etc.

A few days ago I published an article titled 'Victory of Postmodern Investment for Christian Readers, but the content of the thesis is that increasing the number is not enough for the return on investment to be worth it. worth it. The investment must have the foundation for success to be profitable, and now we are considering investing after something as unprofitable as Dogecoin is overdone. I hope Bitcoin can bring the market back to reality. Because irrationality is the cause of paralysis.

Jack Dorsey makes DeFi the latest addition to Bitcoin. Although this article is about DeFi, it is actually talking about financial services that can run on Bitcoin but not on another platform. I admire Jack for being the kind of person who puts money in his mouth, but I'm afraid such an organization will be a failure.

If you don't believe inflation will make the world the poorest people, read this story. North Koreans clearly see the rise in commodity prices on the black market. Since these black markets are out of control, prices are free to move, indicating that printing pressures have led to price increases. I think we'll see a lot of this spread from the third world to the first world.

The digital euro appears to be in the works, and to be fair this is an investigation into whether CBDCs are legal and has been investigated for over 24 months at the speed of government action. I agree with Ammar Naseer's prediction that the CBDC will continue its ups and downs.

Tomer Strolight sees Bitcoin as an experiment. In my experience, this is very true. Those who think outside the box and can prove from first principles often have a consensus on Bitcoin, unlike those who are mesmerized and hung on to myths. It seems like only pain can get people out of this hypnotic state, but it makes a lot of people uncomfortable when you think about how many people have to be patient for 18 years.