Bitcoin
The Basics of Bitcoin Mining
Despite serving as the backbone of the Bitcoin ecosystem, the mining process remains one of the more challenging aspects of Bitcoin to understand. This piece explains how mining works, why it matters, and how Satoshi Nakamoto designed an incentive structure that secures the network through economic self-interest rather than centralized authority.
March 16, 2022
Bryan F. Jacoutot
Bitcoin & Economics
On Adam Smith, Bitcoin, and the Wealth of Worlds
An asteroid called 16 Psyche contains an estimated $700 quintillion in precious metals. If it were mined and brought to Earth, gold markets would not be enriched — they would be destroyed. Adam Smith understood this problem in the eighteenth century. Bitcoin, for the first time in history, solves it.
November 18, 2019
Bryan F. Jacoutot
Bitcoin & Regulation
The Lummis Amendment May Not Be Enough for Bitcoin, Other PoW Coins
The Lummis amendment was designed to protect Bitcoin miners from being classified as brokers under the infrastructure bill. The intent was right — but the technical language may miss the mark. A close reading of how Bitcoin's protocol actually assigns roles reveals a gap that could leave miners exposed.
August 5, 2021
Bryan F. Jacoutot