muk’s Newsletter

Muk's Newsletter explores the intricacies and challenges of blockchain technology, Bitcoin, and their economic implications. It delves into security vulnerabilities, the role of trust in financial systems, and the potential of innovations like Saito to address these challenges, while occasionally reflecting on broader themes of progress and ethics.

Blockchain Technology Bitcoin Economic Innovation Security Vulnerabilities Financial Systems Technological Progress Ethics

The hottest Substack posts of muk’s Newsletter

And their main takeaways

BITCOIN IS (possibly) BEING 51% ATTACKED

0 implied HN points • 16 Sep 23
🕹 Technology Blockchain Cryptocurrency Cybersecurity Bitcoin
  1. Bitcoin may be under a possible 51% attack, which can provide attackers with the power to reverse transactions and control block production.
  2. Understanding the basics of Nakamoto Consensus helps in comprehending the vulnerability to 51% attacks in Bitcoin and the importance of hashpower in the network.
  3. A 51% attacker can aim to gain 100% control over block rewards by manipulating block production and slowly squeezing out other miners, posing a threat to the open nature of the network.

Why Technological Commoners Hate Bitcoin

0 implied HN points • 26 Jun 22
  1. Bitcoin is not just a technological invention, but an economic innovation.
  2. Bitcoin's core innovation is its ability to impose cost through Proof of Work.
  3. Bitcoin's genius lies in its resistance to modification and censorship by powerful forces.

The Fed's Trust Deficit

0 implied HN points • 13 Jun 22
  1. The Fed's actions can impact the trust in the US dollar as a global reserve currency.
  2. Economic despair is a tool the Fed uses strategically, but they hesitate to fully implement it.
  3. US actions, like sanctions, can affect the global demand for the US dollar based on trust.

Letter to Anti-Bitcoiners:

0 implied HN points • 01 Jun 22
  1. Bitcoin is a revolution in economics, not just technology.
  2. Many Bitcoin investors are interested in the real value of Bitcoin, not just dollars.
  3. Understanding Bitcoin requires maturity and deeper education, as basic arguments often fall short.
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0 implied HN points • 25 Jun 21
  1. The author is sharing a post on their Substack account.
  2. The post includes a link to their Substack profile.
  3. Readers are encouraged to subscribe to the author's Substack newsletter.

Appropriating Saito Routing Work for Incentivized Broad or Discriminate Fast Message Delivery

0 implied HN points • 07 Dec 22
  1. Saito blockchain uses routing work to incentivize data relay competition and discourage economic exploits.
  2. Optimizing message delivery through specific routing nodes can be more efficient and cost-effective than broad relay networks.
  3. Incentivizing discriminate message delivery through routing nodes can improve efficiency and establish reliable network relationships.

The Steps to Understand Bitcoin, Then Saito - Without Any Prior Knowledge

0 implied HN points • 30 May 23
🔮 Crypto Blockchain Security Decentralization
  1. Bitcoin's security relies on Proof of Work, where miners compete to add blocks to the longest chain, preventing double-spending attacks.
  2. Saito introduces a unique approach by rewarding nodes based on the transactions they collect, fostering collaboration and deterring attacks through economic incentives.
  3. Saito's design ensures that attackers always lose money when trying to manipulate the network, making sustained attacks financially unsustainable and safeguarding against 51% attacks.

On Progress

0 implied HN points • 21 Sep 23
📖 Philosophy Morality Progressivism Ethics Values
  1. The solution to a problem can lead to greater benefits beyond the initial issue.
  2. Progress can have unintended consequences that may require careful reflection.
  3. Morality centered around productivity can lead to a shallow understanding of true ethics.