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Phil Champagne
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Born
Canada
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Influences
Member Since
April 2023
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“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted notto debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“There are three ways in which a government can fund deficit spending: currency inflation (printing new currency), borrowing from the public, and taxation. Governments tend to favor currency by fiat (i.e., creating new currency), which allows it to blame the inevitable price increases on speculators rather than on its true culprit, currency inflation.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“One typical argument raised against Bitcoin concerns the limit on the maximum number of bitcoins that will ever be created, which Satoshi Nakamoto set at 21 million. Once reached, what could prevent someone from increasing this limit? Nothing really, but he would need the cooperation of the majority of miners for this change to be accepted. Even were the majority of miners to agree to lift this restriction, if all did not agree, then a split in the block chain would result. Those in favor of lifting the restriction would use one version of the block chain while those not in favor would use a different version. In effect, we would have two virtual currencies rather than one, the “original Bitcoin” and a “Quantitative Easing Bitcoin”. Over the long term, one would hold its value longer and better and would therefore become the preferred version while the other would drop in value. What would be your guess as to which one would hold its value longer and retain the interest of users of Bitcoin?”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted notto debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“One typical argument raised against Bitcoin concerns the limit on the maximum number of bitcoins that will ever be created, which Satoshi Nakamoto set at 21 million. Once reached, what could prevent someone from increasing this limit? Nothing really, but he would need the cooperation of the majority of miners for this change to be accepted. Even were the majority of miners to agree to lift this restriction, if all did not agree, then a split in the block chain would result. Those in favor of lifting the restriction would use one version of the block chain while those not in favor would use a different version. In effect, we would have two virtual currencies rather than one, the “original Bitcoin” and a “Quantitative Easing Bitcoin”. Over the long term, one would hold its value longer and better and would therefore become the preferred version while the other would drop in value. What would be your guess as to which one would hold its value longer and retain the interest of users of Bitcoin?”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“The first way to address the “war on poverty” is to get rid of currency inflation and return to a form of money whose value holds over the long term.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“There are three ways in which a government can fund deficit spending: currency inflation (printing new currency), borrowing from the public, and taxation. Governments tend to favor currency by fiat (i.e., creating new currency), which allows it to blame the inevitable price increases on speculators rather than on its true culprit, currency inflation.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
“I don’t believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network. The MIT license is compatible with all other licenses and commercial uses, so there is no need to rewrite it from a licensing standpoint.”
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
― The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto
Blockchain and Cryptocurrency Books
— 175 members
— last activity Nov 29, 2025 03:40AM
A group for people interested in: 1) books about bitcoin, cryptocurrencies, and the technology that makes them work, blockchain; and 2) books that are ...more
