entity · derived
Bitcoin
Derived node: assembled mechanically from the claims carrying bitcoin. A roster, not an adjudicated definition.
Every claim under this term
- 2998033-017 : Cryptocurrency gains are massively underreported to the IRS: despite Bitcoin rising from under twenty dollars in 2013 to over twelve hundred dollars in 2017, the IRS received only around 900 Form 8949
- 3405401-027 : Bitcoin proved that a decentralized system can automate the transfer of valuable digital currency without intermediaries and without a centralized authority for recourse, doing so efficiently, securel
- 3411897-006 : The disillusionment with political institutions after the 2008 to 2009 financial crisis inaugurated a new form of technological decentralization, of which the 2009 Bitcoin protocol is the leading resu
- 3441904-022 : Token concentration in existing decentralized protocols is extreme: on and around September 12, 2017, 4.11 percent of bitcoin addresses controlled 96.53 percent of the total bitcoin supply.
- 3606663-020 : Bitcoin functions as a medium of exchange for a number of businesses but arguably fails as a store of value and as a unit of account, because of its volatility and its lack of intrinsic value.
- 3782192-036 : Bitcoin and Ethereum are worth hundreds of billions of dollars not because people are using them but almost entirely because of speculation on their future value, which is the expectation that people
- 3782192-038 : Decentralized money and decentralized contracts have been built, but decentralized business will not work until roughly eight further decentralized institutions that people actually use in business ar
- 3782193-027 : Bitcoin does not refute the thesis that money centralizes decentralized projects: hashing power has slowly become concentrated in mining pools until the majority of that power resides in the single co
- 3782198-024 : Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authority, but the centralizing force of competition concentrated power anyway, as economies of sc
- 3782198-025 : Bitcoin and Ethereum have no formal binding governance framework declaring how consensus protocols may be changed in the future, which the authors identify as a deep flaw that weakens the networks and
- 3782198-028 : Hash functions let a leaderless network reach consensus on identity and ordering, because every node independently hashes a transaction's data and deterministically arrives at the same unique identifi
- 3782198-030 : The GDPR's removal remedy cannot be enforced against a public blockchain: scrubbing private information would require more than half of the network's nodes to change their entire protocol and restart
- 3782198-031 : Proof of work consensus is energetically wasteful because the entire global network redundantly computes wrong nonces, with the Bitcoin network consuming as much energy as the country of the Czech Rep
- 3782198-034 : A decentralized banking DAO built on top of the Bitcoin ledger could charge a smaller fee to hold minor transactions temporarily and bundle them into a single larger Bitcoin transaction on the eternal
- 3782201-020 : Bitcoin demonstrates the power of decentralized cooperation and transparency: after a decade without centralized oversight, no network transaction has sent the wrong quantity or gone to the wrong acco
- 3782201-021 : Despite billions of dollars of investment, radically decentralized tools including bitcoin currency, Ethereum smart contracts, and the InterPlanetary File System have not pervaded the mainstream econo
- 3782203-029 : The authors hold that the Bitcoin proof of work algorithm is ultimately flawed, that every consensus algorithm is flawed, and that it is not possible to create an algorithm that is not flawed.
- 3782203-030 : Bitcoin's proof of work has produced no protocol violation in more than a decade, meaning no rule breaking message has been incorporated into the finalized blockchain, even though anyone can run a hac
- 3782205-003 : Prototypes exist for only two of the eight required institutions, decentralized currency in Bitcoin and distributed computation for smart contracts in Ethereum, and most of the rest are still missing.
- 3782205-018 : Bitcoin proved that a decentralized digital representation of value is possible, but it is not efficient enough for wide use because the rest of a decentralized economic environment does not yet exist
- 3782205-027 : An artificially scarce currency such as bitcoin is deflationary as long as its market expands, and like gold its price fluctuation makes it unsuitable for daily commerce.
- 3808852-039 : The role of central government is increasingly under attack because Bitcoin could not be controlled or regulated by centralized governments, which spawned a community effort to build decentralized app
- 4015908-012 : Bitcoin is one of the best examples of a fair launch because there was no ICO, no founders reward, no pre-mine, and no block reward for dev teams.
- 4033886-015 : A programmed and enforceable quantity commitment secures a reliably positive value for Bitcoin because the governing source code is fully transparent on the blockchain and continuously verifiable.
- 4033886-039 : Bitcoin's issuance schedule and relative scarcity are not necessarily the only reasons for its rise in value, since thousands of copycats share the same issuance schedule without matching its demand.