The miners dilemma – Bitcoin sabotage can be profitable


Imagine a small village of a 100 people. One day,  a sorcerer shows up,  and grants all the villagers magical 1000-sided dice, which are purely random and can only be thrown at a fixed rate of 1 throw per second (no faster & no slower). Over the next year, at noon of every day, the sorcerer will announce a random number between 1 and 1000, and the first villager to throw that number on their...

WTF is a bitcoin?


WTF is a bitcoin? There’s much ado over the digital currency and many people struggle to understand what it is. In fact, even I haven’t fully grasped the fundamental nature of how it works–but then again I don’t know how the banking and fiat currency system work, yet I still use it. In essence, there’s been a huge amount of really technical literature written about...