{"id":13099,"date":"2020-04-21T18:28:56","date_gmt":"2020-04-21T22:28:56","guid":{"rendered":"https:\/\/www.duck9.com\/?p=13099"},"modified":"2020-04-22T15:45:50","modified_gmt":"2020-04-22T19:45:50","slug":"thermod-in-the-application-of-digital-scarcity-thats-agreed-upon-by-consensus","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/thermod-in-the-application-of-digital-scarcity-thats-agreed-upon-by-consensus\/","title":{"rendered":"ThermoD in The Application of Digital Scarcity That\u00e2\u20ac\u2122s Agreed Upon by Consensus"},"content":{"rendered":"
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By Larry Chiang<\/div>\n
I used to make fun of block chain and say \u00e2\u20ac\u0153Roller Chain\u00e2\u20ac\u009d<\/div>\n
Energy only changes its states. The 3 states are gas, liquid and solid. <\/span><\/div>\n
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As a mechanical engineer, I used solid liquid and gas charts to model credit defaults. <\/div>\n
SOLID – were great credit risks. <\/div>\n
GAS – is bad and horrible credit risks<\/div>\n
LIQUID – are credit applicats who are maybe\u00e2\u20ac\u2122s<\/div>\n
First Chicago, AT&T Universal Card and Citibank were using one dimensional FICO score analysis. Duck9 added another dimension: \u00e2\u20ac\u0153off credit report data\u00e2\u20ac\u009d and #ThirdPartyDataVerification. <\/div>\n
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Suffice it to say, I missed basic bitcoin Mechanical Engineering truths that were staring me in the face. Particularly, the second law of thermodynamics <\/div>\n
\u00e2\u20ac\u0153Unpopular opinion: Bitcoin is not alike Religion. It\u00e2\u20ac\u2122s no opaque dogma. <\/span><\/span><\/p>\n
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One doesn\u00e2\u20ac\u2122t believe in Bitcoin, but observes it exist in the world. <\/span><\/p>\n

Bitcoin is an interpretation of the law of thermodynamics applied to digital scarcity.\u00e2\u20ac\u009d<\/span><\/p>\n<\/div>\n

– <\/span>Thibaud Marechal <\/b><\/span>🔑<\/span> (<\/b><\/span>@thibm_<\/a><\/b><\/span>)<\/b><\/span><\/div>\n
Bitcoin was not made up. Bitcoin was DISCOVERED <\/span><\/div>\n
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<\/td>\nThibaud Marechal 🔑 (@thibm_<\/a>)<\/b><\/td>\n<\/tr>\n
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11\/23\/19, 5:40 PM<\/a><\/div>\n
Unpopular opinion: Bitcoin is not alike Religion. It\u00e2\u20ac\u2122s no opaque dogma.<\/p>\n
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One doesn\u00e2\u20ac\u2122t believe in Bitcoin, but observes it exist in the world.<\/p>\n

Bitcoin is an interpretation of the law of thermodynamics applied to digital scarcity.<\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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<\/span><\/td>\nBen Hunt (@EpsilonTheory<\/a>)<\/b><\/td>\n<\/tr>\n
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7\/22\/19, 9:45 PM<\/font><\/a><\/div>\n
Bitcoin! \u00e2\u20ac\u0153Powered by thermodynamics … <whispers> … just like the universe\u00e2\u20ac\u009d<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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\nsecond law of thermodynamics. That\u00e2\u20ac\u2122s what me and Jimmy Song trust:<\/span><\/span><\/p>\n<\/div>\n


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<\/span><\/td>\nEljaboom💥 (@Eljaboom<\/a>)<\/b><\/td>\n<\/tr>\n
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2\/25\/19, 9:53 AM<\/font><\/a><\/div>\n
While my bachelor studies in thermodynamics. I learned that energy cannot be created or destroyed.<\/p>\n
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Energy only changes its states.<\/p>\n
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#Bitcoin<\/a> is not innovation or creation, it’s only adaptation of the old bad\/slow methods of doing transactions.<\/p>\n

It will come no matter WHAT! pic.twitter.com\/uXKgY0KHRZ<\/a><\/p>\n<\/div>\n

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https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/a><\/span><\/span><\/span><\/span><\/div>\n<\/div>\n<\/div>\n
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https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/a><\/span><\/span><\/span><\/span><\/div>\n<\/div>\n

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<\/span><\/td>\noraclewhale (@oraclewhale<\/a>)<\/b><\/td>\n<\/tr>\n
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4\/19\/20, 4:30 PM<\/font><\/a><\/div>\n
Bitcoin can not be created out of thin air, unlike Dollars and Euros. Bitcoin follows the laws of thermodynamics- Bitcoin requires input (computer tech investment and electricity) to create\/mine Bitcoins, just like Gold requires equipment and fuel for mining\/extraction<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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<\/span><\/td>\nKnut Svanholm ⚡🗽⚡ (@knutsvanholm<\/a>)<\/b><\/td>\n<\/tr>\n
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1\/13\/19, 1:15 PM<\/font><\/a><\/div>\n
<\/a>\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@Melt_Dem\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a> \u00e2\u20ac\u0153Bitcoin and Thermodynamics\u00e2\u20ac\u009d by Knut Svanholm link.medium.com\/CyL1qBC3rT<\/a><\/span><\/font><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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By Larry Chiang I used to make fun of block chain and say \u00e2\u20ac\u0153Roller Chain\u00e2\u20ac\u009d Energy only changes its states. The 3 states are gas, liquid and solid.  As a mechanical engineer, I used solid liquid and gas charts to model credit defaults.  SOLID – were great credit risks.  GAS – is bad and horrible […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78],"tags":[],"class_list":["post-13099","post","type-post","status-publish","format-standard","hentry","category-deep-underground-cryptocurrency-knowledge-9"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=13099"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13099\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=13099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=13099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=13099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}