Shawn Amick

Blog Info Bitcoin Magazine
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Stats Has written 15 posts about cryptocurrency

Jan 23 2022

Replacing The U.S Dollar With Bitcoin: Dismantling Fiat Architecture

Using the OSI model helps us understand fiat architecture and how to scale a network like Bitcoin to replace it.This is the second article in a series about lessons that can inform bitcoin’s replacement of the U.S. dollar. Read the first article in the series, on leaving the gold standard, here....

Jan 22 2022

Replacing The U.S Dollar With Bitcoin: Leaving The Gold Standard

To think through how bitcoin will replace the U.S. dollar, we must first turn to the dollar’s own journey in leaving a gold standard.Many a Bitcoin maxi have been asked the question, “Ok, but how does bitcoin replace the dollar?” Here’s my attempt to answer that question. This will be a short series, the first of which discusses what caused us to...

Jan 15 2022

JoinMarket Lead Adam Gibson Sees A Bright Future For Bitcoin Mixing

Adam Gibson, aka Waxwing, is the lead maintainer for one of Bitcoin’s most prolific CoinJoin projects. And he sees a bright future for transaction privacy.In a recent interview with Adam Gibson, aka Waxwing, lead JoinMarket maintainer and expert on CoinJoining, we talked about the...

Jan 13 2022

Ethereum’s Centralization Endgame Makes The Case For Building On Bitcoin

In a recent explanation of Ethereum’s roadmap, Vitalik Buterin inadvertently made the case that building on Bitcoin is our only path to decentralization.In a recent blog post called “Endgame”, Ethereum founder Vitalik Buterin addressed the concerns around undue centralization of Ethereum. But not so that he might dismiss those claims. Nay, he’d...

Dec 30 2021

The IMF: Global Regulation, Licensing For Bitcoin, And Capital Requirements

A recent blog post from the International Monetary Fund appears to show their distaste for cryptocurrencies and lack of education in this sector.The International Monetary Fund stated in their blog that “financial stability risks could soon become systemic in some countries.” In this...

Dec 27 2021

A Bitcoiner’s Reflection On 2021: A Year Of Awareness

Dec 27 2021 Published at Bitcoin Magazine under tags  culture eoy 2021

For better or for worse, Bitcoin came front and center to public attention this year.Was 2021 a good year? Depends, as most things do, on perspective. As I sat writing the first line of this article, I asked myself this question. Now, this article might sound harsh at times, and I just ask that you stick with me. There's a method to...

Dec 12 2021

Can We Define Bitcoin As A Religion?

Dec 12 2021 Published at Bitcoin Magazine under tags  culture ideas philosophy religion

This essay will attempt to answer a question often discussed yet semantically challenging.There’s been much discussion surrounding the question of determining whether or not Bitcoin is a religion. To truly understand the depth of this question, we must discuss belief, religion, organization, and dogma. Let’s answer this question beginning with a linguistic lens, and then continue through a philosophical...

Dec 11 2021

Bitcoin’s Stock To Universal Flow: How Lao Tzu Teachings Underscore Sound Money’s Value

As Lao Tzu outlines in the “Tao Te Ching,” Bitcoin can free us from action and purpose and help us understand the Tao, or “way.”“A state may be ruled by measures of correction; weapons of war may be used with crafty dexterity; but the kingdom is made one’s own only by freedom from action and purpose.”–Lao Tzu, “Tao Te Ching...

Nov 13 2021

Why Taproot Is An Important Addition To Bitcoin

Nov 13 2021 Published at Bitcoin Magazine under tags  bip schnorr taproot technical

Taproot activation is a fantastic step forward for the Bitcoin network in terms of security and scalability.A Bitcoin Core developer by the name of Gregory Maxwell released the notes for Taproot in 2018. The last upgrade was SegWit in 2017, and Bitcoin had a...

Nov 12 2021

Understanding Taproot In A Simple Way

The highly-anticipated upgrade is set to roll out over the weekend, changing Bitcoin for the better.Understanding exactly what about the Bitcoin network implementing Taproot changes is necessary for understanding why the changes were needed. Taproot is the combination of many Bitcoin Improvement Proposals (BIPs) resulting in a soft fork of Bitcoin’s blockchain. A soft fork is a proposed upgrade that over time...

Nov 05 2021

Fedspeak: Thoughts On The Latest FOMC Press Conference

The Federal Reserve, everyone’s favorite central bank, is up to its usual shenanigans.Jerome Powell, everyone’s favorite, unelected, talking piece of coral that presides over the Federal Reserve took to the stage November 3 in order to spew his typical “Fedspeak.” An important note before we begin. The Federal Reserve is creating new policies...

Nov 02 2021

Is It OK To Profit From Bitcoin Influence?

Should those who seek influence in the Bitcoin ecosystem feel entitled to compensation for their efforts?This is not an article about selling your bitcoin. Rather, we will be discussing profiteering or being an influencer in Bitcoin. At what point is it acceptable to make a profit for this type of work in Bitcoin? Not using the asset as a store of value,...

Oct 28 2021

The IMF Hates Bitcoin Because It Loves Total Control

The IMF hates Bitcoin because its decentralized protocol and programmatic monetary policy defies the control the fund wants to implement on us all.The International Monetary Fund (IMF), along with a string of other financial institutions, really does not like Bitcoin. So, let’s do the usual, thinking through what the IMF is and why it even matters.What Is The IMF?The IMF...

Oct 21 2021

Bitcoin And The Philosophy Of Free Choice

Oct 21 2021 Published at Bitcoin Magazine under tags  culture ideas philosophy sovereignty

Bitcoin allows people to opt out of systems not designed to their benefit, and creates a “network state” of like minded thinking.The profoundness of philosophy is typically measured in extremities and diversions from a central understood point. This can address the thought collective, or the individual, when discussing knowledge and experiences with the intention of developing a grandiose understanding of the...

Oct 16 2021

Bitcoin: The Stateless Emergence

Bitcoin offers the ability to decouple oneself from the state, offering financial access to everyone equally.Bitcoin transcends the nation-state and all expectations that come along with being associated with a fiat standard. Let’s talk about what it means to be a state currency so that we can understand Bitcoin’s transcendence. How Fiat Is The StateFiat currency, by definition, is a...

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