Craig Warmke Profile Banner
Craig Warmke Profile
Craig Warmke

@craigwarmke

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Associate Professor of Philosophy and @btcpolicyorg fellow. Coauthor of (now available)

Joined July 2019
Don't wanna be here? Send us removal request.
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@craigwarmke
Craig Warmke
4 years
As the price nears all time highs, some might want to understand what bitcoin is and how it works. My paper, "What is Bitcoin?" is forthcoming in the philosophy journal, Inquiry. It's for a wider audience, but especially philosophers.
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@craigwarmke
Craig Warmke
4 years
#bitcoin media guide.
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@craigwarmke
Craig Warmke
2 years
Hear me out. An algorithmic stablecoin backed by short positions on itself.
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@craigwarmke
Craig Warmke
2 years
"I am Queen Elizabeth II's oldest but secret son." -Craig S. Wright
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@craigwarmke
Craig Warmke
2 years
More than ever, #bitcoin feels like the adult in the room.
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@craigwarmke
Craig Warmke
3 years
The energy expended every ten minutes secures over $1 trillion USD, the entire ledger that says who has which amounts of #bitcoin . That someone so technical thinks that new transactions *alone* consume this energy shows just how early we are.
@dhh
DHH
3 years
A single bitcoin transaction now consumes almost a thousand kWh. Or a month's worth of power consumption for an average US household. 🤯☠️
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@craigwarmke
Craig Warmke
3 years
"We've gotta keep pace with China. China is close to banning all cryptocurrencies. ... If we fail to keep up with China we will fall behind." - @BradSherman , US congressman (and, surprisingly, not a comedian)
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@craigwarmke
Craig Warmke
2 years
*Bitcoin Literacy Test* What would happen to bitcoin's energy consumption over the next day if bitcoiners collectively decided not to send any on-chain transactions?
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@craigwarmke
Craig Warmke
1 year
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@craigwarmke
Craig Warmke
2 years
1/ The Law Commission of England and Wales has published a 500+ page paper about how property rights relate to bitcoin and other digital assets. It's impressive, and a big deal. You can tell they did their homework, too, since the paper cites @dergigi , @hasufl , and @cobie !
@gonbegood
gonbe
2 years
Law Commission suggests “third” category of personal property better able to recognise the nuances of crypto in its new digital assets consultation paper
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@craigwarmke
Craig Warmke
2 years
*A Comparative History of Monetary Policy Changes in Ethereum and #Bitcoin *
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@craigwarmke
Craig Warmke
9 months
The funniest thing about this is the suggestion that holding one's own private keys - the default custodial practice at bitcoin's inception - is some sort of technological dark art.
@MartyBent
Marty Bent
9 months
Old, lame, insane and extremely dark.
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@craigwarmke
Craig Warmke
3 years
Articles 7, 8, and 14. 👀
@nayibbukele
Nayib Bukele
3 years
I’ve just sent the #BitcoinLaw to Congress 🇸🇻
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@craigwarmke
Craig Warmke
3 years
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@craigwarmke
Craig Warmke
6 months
a repeatedly hacked phd in infosec, who's created more forgeries than he has fake degrees, to claim authorship once sworn away, of software he does not understand, to attain coins he cannot move, while attacking developers of the project he open-sourced, weaponizing the judicial
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@craigwarmke
Craig Warmke
2 years
Pour one out for the other proof of stake protocols today.
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@craigwarmke
Craig Warmke
3 years
"I'm reminded of Proverbs 26:4, so I won't spend longer on [Sherman's] comments." - @WarrenDavidson , US congressman [Prov. 26:4 "Do not answer a fool according to his folly, or you yourself will be just like him."]
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@craigwarmke
Craig Warmke
4 years
Under-appreciated point about Satoshi as an engineer: the UTXO model elegantly solves an issue with divisibility in electronic cash.
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@craigwarmke
Craig Warmke
3 years
If there were levels of enlightenment about #bitcoin , what would some of the highest lessons be?
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@craigwarmke
Craig Warmke
5 years
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@craigwarmke
Craig Warmke
3 years
Few
@elonmusk
Elon Musk
3 years
How many Bitcoin maxis does it take to screw in a lightbulb?
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@craigwarmke
Craig Warmke
1 year
The true bit signal.
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@craigwarmke
Craig Warmke
2 years
Every day, I have to shovel more and more coal into my hardware wallet's steam engine.
@Noahpinion
Noah Smith 🐇🇺🇸🇺🇦
2 years
Note that Bitcoin's energy usage has increased substantially relative to its price (or market cap). Bitcoin is becoming more costly to store as time goes on.
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@craigwarmke
Craig Warmke
1 year
@paulkrugman @TheStalwart Sounds like you might have use for an open source, permissionless payments system.
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@craigwarmke
Craig Warmke
3 months
Money requires excludable control, especially to possess and transfer possession. This argument from the US SDNY uses a sense of 'transfer' that has nothing to do with the transfer of possession but the transfer of physical quantities (which resist excludable control at
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@craigwarmke
Craig Warmke
3 years
Elizabeth Warren just said that, in a DeFi crash, people would cash out all their stablecoins for USD, which would cause stablecoins to "take a nosedive," which "could ultimately crash the whole economy. The ignorance and confidence on display is so funny.
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@craigwarmke
Craig Warmke
3 years
This is academic malpractice, at this point.
@steve_hanke
Steve Hanke
3 years
Pres. Bukele's assertion that sending & receiving remittances in #ElSalvador via #Bitcoin is cheaper than traditional methods is FALSE. Bukele is delusional. Read about Bukele's Bitcoin BLUNDER in the @JohnsHopkins Studies in Applied Economics Series:
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@craigwarmke
Craig Warmke
3 years
Some Western elites: #bitcoin is a ponzi scheme for criminals. Microsoft: here's a decentralized identity system we built on top of the #bitcoin network.
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@craigwarmke
Craig Warmke
3 months
Action: arrest developers of privacy-preserving software Goal: money laundering prevention Result: effectively banning legal privacy-preserving tools used by both ordinary people who want privacy and those worldwide who absolutely need it Likely second order result: people
@AnyaChekhovich
Anna Chekhovich
3 months
At the @ACF_int we relied on Wasabi when protecting our donors from Russian government’s surveillance and risks of imprisonment. That was not taken into consideration by the US authorities when they began attacking privacy tools
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@craigwarmke
Craig Warmke
2 years
Smart for a country to make bitcoin legal tender when only 11% of its population has access to the internet. Looks to me, in part, like a low-cost bet that bitcoiners globally will help increase internet access, which would be a huge boon to the economy.
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@craigwarmke
Craig Warmke
1 year
When he shows his true colors. 🧡
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@craigwarmke
Craig Warmke
2 years
"Oh, so you'll submit to a DNA test?" "Invasion of privacy! I have an email somewhere to prove it."
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@craigwarmke
Craig Warmke
3 years
Apart from the effect on price, marketing EIP-1599 as a move towards "ultra sound money," when ultra sound money makes such malleability impossible has always struck me as either dishonest or confused.
@TheStalwart
Joe Weisenthal
3 years
@hasufl Honestly I’m not convinced it’s good for the price. Any increased scarcity element is counteracted by the reminder that the schedule is malleable imo.
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@craigwarmke
Craig Warmke
5 months
Will nodes correctly divide by 2 for an incredible fourth time? 🍿
@FinanceLancelot
Financelot
5 months
What happens if the Bitcoin halving in April screws up?
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@craigwarmke
Craig Warmke
2 years
Academic research on #bitcoin is important. It's not just about the White House cherry-picking research. It's also about what's available. And much of it is bad.
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@craigwarmke
Craig Warmke
5 months
@SenWarren @Ilhan This is what bitcoin is for.
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@craigwarmke
Craig Warmke
3 years
Watching Norm MacDonald clips, it finally dawned on me.
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@craigwarmke
Craig Warmke
5 months
I once had dinner with a highly esteemed economist and asked him about whether @gladstein was right about the IMF and World Bank. He gave me the closed-eye nod and an “oh ya.”
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@craigwarmke
Craig Warmke
2 years
Today, I guest taught a 200-person marketing class in the business school about the FTX debacle and why bitcoin was invented to avoid trusted parties like SBF. Great questions and a fun but sober discussion.
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@craigwarmke
Craig Warmke
7 months
Our book cover, in another lifetime.
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@craigwarmke
Craig Warmke
3 months
Many seem to trust in bitcoin's inevitability. But, as Hal Finney wrote, there are no shortcuts. "We must persuade others that [freedom and privacy] are worth having."
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@craigwarmke
Craig Warmke
3 months
A two-prong attack on bitcoin. 1. Vast majority of btc pools inside trusted institutions so that most "holders" care more about price than its resistance money features.
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@craigwarmke
Craig Warmke
3 years
Discreet log contracts will eventually blow our socks off in what they enable for #bitcoin finance. Here I explain for the non-mathematician both why they're important and how they work, step-by-step.
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@craigwarmke
Craig Warmke
6 months
Resistance Money is now available for preorder for $29.95.
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@craigwarmke
Craig Warmke
2 years
@SecBlinken @USTreasury It looks like you've withdrawn the claim that the developers behind Tornado are affiliated with the DPRK. Next step is having Treasury withdraw this attack on our financial privacy.
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@craigwarmke
Craig Warmke
3 years
@AchimLittlepage @sqcrypto @Square @ARKInvest Sure, these conflicts of interest exist. But we should also give Ark and Square their due. They have made tons of money precisely because they’ve correctly predicted the way the world would go with quality research teams.
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@craigwarmke
Craig Warmke
2 years
Fantasy: Wars will cease under a bitcoin standard. Reality: Borderless, permissionless money makes it easier to crowdfund your armed forces of choice.
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@craigwarmke
Craig Warmke
3 years
ANNOUNCEMENT The first meeting of the Transparency Council will be held privately and at an undisclosed time and location.
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@craigwarmke
Craig Warmke
2 years
Guy sees house ablaze after midnight. Finds and saves three kids asleep upstairs. Then learns there's a 6 yo still inside. Finally finds the 6 yo, goes upstairs, punches through window with bare hand, and jumps out with kid and absorbs force of the fall. What a LEGEND.
@LafayetteINPD
LafayetteINPolice
2 years
Heroic actions of a Lafayette Citizen saves the lives of several children! #hero #inspiring #courage #awesome @City_Lafayette
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@craigwarmke
Craig Warmke
9 months
@IanTalley Just issue a retraction, my man. Blockchain analytics is hard, especially for non-specialists. Mistakes get made often. No one will care in your world - journalists make false claims often while doing the best they can. It’s also not your fault that your mistake has become so
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@craigwarmke
Craig Warmke
9 months
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@rcwhalen
Richard Christopher Whalen
9 months
@biancoresearch There is no "price" for #BTC . Pure simulation. No bids or offers. Just fraud with a tech veneer.
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@craigwarmke
Craig Warmke
3 years
I feel stupid for not realizing this before about the connection between the block reward and the percentage mined.
@AchimWar
m Warren ☀🌲
3 years
@thetrocro @resistancemoney @craigwarmke Actually I have thought about this a little bit and my reasoning was it allows one to keep track of how far we are in to the total supply. At the end of the 50 era, there’s 50 % left. At the end of the 25 era, there’s 25% left.
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@craigwarmke
Craig Warmke
5 years
"I've seen some things." #AcademicTwitter (inspired by @kesarito )
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@craigwarmke
Craig Warmke
3 years
Hard to think of another topic where journalists double down on being wrong so often and so embarrassingly.
@BCAppelbaum
Binyamin Appelbaum
3 years
I'll add one note for people misunderstanding the Engima/Colonial comparison. In both cases the government(s) gained access by obtaining the key. It doesn't matter how secure the code is. There's still a door and at least one person with the key.
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@craigwarmke
Craig Warmke
3 months
The second order results are already rolling in.
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@craigwarmke
Craig Warmke
3 months
Action: arrest developers of privacy-preserving software Goal: money laundering prevention Result: effectively banning legal privacy-preserving tools used by both ordinary people who want privacy and those worldwide who absolutely need it Likely second order result: people
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@craigwarmke
Craig Warmke
2 years
Perhaps I'm permitted to share without having listened first. I had a blast with Peter and his crew. They're so good at what they do, so hospitable, and super sharp. After the interview, I sat in the chair for five more hours chatting with them. A major highlight of my summer.
@WhatBitcoinDid
What Bitcoin Did
2 years
WBD522 - #Bitcoin Behind the Veil with @craigwarmke . We discuss: - The cypherpunks - A philosophical view of #Bitcoin - #Bitcoin biases and opportunity costs - A framework for overcoming bias
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@craigwarmke
Craig Warmke
1 month
Did some charting for you all.
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@craigwarmke
Craig Warmke
1 year
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@craigwarmke
Craig Warmke
2 years
Last week, I had students in my epistemology class jot down a controversial belief so I could read them aloud. All anonymous. Someone wrote down a long and compelling case for why Cars 2 was the best of the trilogy. It brought the house down.
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@craigwarmke
Craig Warmke
1 year
Sayonara bitcoin.
@robin_j_brooks
Robin Brooks
1 year
So it turns out that Bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara Bitcoin...
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@craigwarmke
Craig Warmke
5 months
The academia to policy misinformation pipeline is a real problem, and @nic__carter puts it perfectly. But we can also do something about it.
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@craigwarmke
Craig Warmke
2 years
Man deflects attention from his legally and morally questionable business model with dishonest ESG grandstanding about bitcoin mining. I hope the ESG crowd gives you all the brownies you want, Chris.
@chrislarsensf
Chris Larsen
2 years
Last year, I published an op-ed calling for Bitcoin to consider a move away from PoW to a low energy validation method. Today, I’d like to share an update on how my thinking has evolved on this front.
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@craigwarmke
Craig Warmke
3 years
Rothko, "Hyperbitcoinization" (1956).
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@craigwarmke
Craig Warmke
2 years
Idea: Half million dollar annual prize for best journalism about bitcoin. Industry leaders jointly fund an independent org that reads and selects the winner. Low cost effort with potentially massive benefit. Can we make this happen?
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@craigwarmke
Craig Warmke
2 years
When I was an early grad student, professors would share Glenn Greenwald articles and praise Wikileaks. Then Assange exposed war crimes under Obama and the well ran dry. Defending Assange now is costly, so few academics do it.
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@craigwarmke
Craig Warmke
3 years
1/ I keep seeing on Twitter that #bitcoin DeFi is impossible or unlikely to play an important role in the future of finance. But it isn't just possible. It is coming, and it is crucial that we support it. Why? 🧵
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@craigwarmke
Craig Warmke
5 months
"While I know a lot about bitcoin, I'll never know everything about bitcoin." - Andreas Antonopoulos
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@craigwarmke
Craig Warmke
1 month
Feels good to thumb through a physical copy for the first time. Loading the canon for giveaways.
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@craigwarmke
Craig Warmke
4 months
By making bitcoin development less burdensome, COPA has made it more likely that some might return and less likely that others would leave.
@RainDogDance
RainDogDance 
4 months
Wladimir van der Laan's reaction to COPA court win against CSW, considering coming back to bitcoin development again:
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@craigwarmke
Craig Warmke
1 year
The year is 2026. SEC Chairperson Pierce has breathed new life into American crypto companies. The new head of compliance at Coinbase, Gary Gensler, now supports staking programs for dozens of nascent networks thanks to Pierce's friendly regulatory approach.
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@craigwarmke
Craig Warmke
3 years
1/ In the years to come, #bitcoin 's layers will together obsolete other blockchains and the altcoins built on top of them. So say @RyanTheGentry and @dhruvbansal . I find the argument pretty compelling, and this chart should inspire some good discussion.
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@craigwarmke
Craig Warmke
2 years
"Hi I'm a no-coiner. If one anti-bitcoin argument dries up, I just move on to the next! I'll move the goal posts until we circle around. And I'll eventually contradict myself. Truth doesn't matter. Power does. And I'll argue until I have it."
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@craigwarmke
Craig Warmke
1 year
Just guest lectured a 200-level marketing class in the business school. About 100-150 students. We talked about why #bitcoin is special and its pros and cons, with about 40 minutes of great questions.
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@craigwarmke
Craig Warmke
2 years
I feel a great sense of responsibility to write a clear, accessible, and compelling book-length case for #bitcoin w/ @resistancemoney and @rettlerb . Back to work.
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@craigwarmke
Craig Warmke
2 years
@SenWarren Your source in fn. 7 relies on a faulty idea about bitcoin's "energy per transaction." This Hal Finney post from 2009 explains what's wrong with such a metric. Talking to bitcoiners might help you avoid falsehoods corrected within two weeks of bitcoin's creation, 13 years ago.
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@craigwarmke
Craig Warmke
2 years
Golumbia on why the world's under-banked are mostly criminals anyway.
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@craigwarmke
Craig Warmke
4 years
Satoshi responds to the problem, too, in the whitepaper. Instead of using identifiable and traceable atoms in the ledger, every one of which needs signing over in a transaction, Satoshi opts for a UTXO model which creates and destroys digital notes with primitive quantities.
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@craigwarmke
Craig Warmke
3 years
“I’m observing its trajectory as a new technology and comparing it to the trajectories of things like the printing press, or the steam engine, ... or the automobile, or electricity. And it’s following that ... very well-understood path of new technologies.” - Bill Miller
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@craigwarmke
Craig Warmke
3 months
FinCen. $2 trillion. Banks. Actual money laundering.
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@craigwarmke
Craig Warmke
3 years
Another blow to the sort of academic who shares dave troy and golumbia-esque conspiracy theories, and who thinks #bitcoin is a radical right-wing tool for white supremacists in the tech bro epicenters of ... Nigeria and Turkey. h/t @nic__carter
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@craigwarmke
Craig Warmke
2 years
Down bad? Perhaps a good time to read about how Satoshi elegantly resolved a dilemma about divisibility/scalability, how his ideas compared to Chaum's and Finney's, the anatomy of bitcoin transactions, and the fungibility of UTXOs.
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@craigwarmke
Craig Warmke
3 months
Some: "Broken money is the best." Some others: "Resistance money is the best." Me: "I'll have the combo, please."
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@learnbtcacademy
Learn Bitcoin Academy
3 months
@resistancemoney @LynAldenContact @craigwarmke @rettlerb You guys deserve it. This book will save me 100’s of hours in preparing videos on Bitcoin. The one thing I couldn’t find was balanced explanations of Bitcoin’s best criticisms. This book was the missing piece of the puzzle and I’m extremely grateful.
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@craigwarmke
Craig Warmke
4 years
Nic’s philosophical training is obvious, and it was a total pleasure chatting with him about our shared interests at the intersection of bitcoin and philosophy.
@nic__carter
nic carter
4 years
In our latest @OnTheBrinkCIV , I sit down with @craigwarmke , an academic philosopher at N. Illinois University. We discuss Craig's new paper, 'What is Bitcoin'?
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@craigwarmke
Craig Warmke
28 days
🫡
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@craigwarmke
Craig Warmke
2 years
man: Please, God, if you're there, show me evidence that you exist. God: Bro, I gave you Bach hundreds of years ago, and you can still listen to like his entire repertoire on Youtube from your couch.
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@craigwarmke
Craig Warmke
4 years
I should say - I don't make much of the fact that both Okamoto and Nakamoto use "unwieldy" to describe the same problem.
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@craigwarmke
Craig Warmke
2 years
13/ On self-custody and "unhosted wallets" 🔥🔥🔥
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@craigwarmke
Craig Warmke
2 years
Bitcoin’s founder recapitulated, in miniature, the brilliance and humility of several founding fathers. July 4th is a good day to review these similarities, not to aggrandize him, but to explain how bitcoin is something that Americans can celebrate.
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@craigwarmke
Craig Warmke
1 year
The Fidelity @DigitalAssets "Bitcoin First" report uses a pizza for divisibility. I wonder which of the authors moonlights as an anon pleb.
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@craigwarmke
Craig Warmke
2 years
*Bitcoin Misinformation Pipeline* Academics --> Journalists --> Policymakers This is the way the world works. So I believe that one of the most effective ways to combat misinformation is for academics to publish in venues respected by the elites in traditional institutions.
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@craigwarmke
Craig Warmke
2 years
@AriDavidPaul Perhaps you'd consider switching to the slightly less lucrative career of being a nyt journalist? ;)
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@craigwarmke
Craig Warmke
2 months
@BrandonWarmke The refusal of [journal editors] to [publish accepted papers] because they’re afraid of being called bad names by first year grad students has caused so much damage to academic institutions.
@BrandonWarmke
Brandon Warmke
2 months
The refusal of normie tenured faculty to speak up because they’re afraid of being called bad names by first year grad students has caused so much damage to academic institutions.
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@craigwarmke
Craig Warmke
3 years
"By offering an outlet for people to take their money out of the national economy, they risk undermining it and making the regulator's job of maintaining optimal monetary policies harder, the report says." Translation: "We'd rather not have a competitive check on our policies."
@CoinDesk
CoinDesk
3 years
BREAKING: @bank_of_russia has called for a full-scale ban on crypto trading, mining and payments, @baidakova reports
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@craigwarmke
Craig Warmke
1 month
Chapter 1, for free. PDF:
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@craigwarmke
Craig Warmke
11 months
Paul isn’t Roger Ver. Jimmy is.
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@craigwarmke
Craig Warmke
3 years
I wrote a #bitcoin finance manifesto. I hope it inspires people. Will appear soon.
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@craigwarmke
Craig Warmke
2 years
Little over a month ago, the SEC released this cringey video - “Office Hours with Gary Gensler.” As FTX defrauded customers out of billions, Gensler took a victory lap about fining Kim K. for $1.26 million and made a high production video about it.
@GaryGensler
Gary Gensler
2 years
Today @SECGov , we charged Kim Kardashian for unlawfully touting a crypto security. This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn’t mean those investment products are right for all investors.
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@craigwarmke
Craig Warmke
2 years
@hackylawyER Nic is right about how much garbage exists in the literature. He knows a lot about bitcoin that I don’t. And he knows more about bitcoin than you do. I say that because you could learn a lot from him, like I have. It just takes a little humility.
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