Farley on Nostr: Adam Back’s Paradox Hashcash (1997): A spam filter, not money. Proof-of-Work was a ...
Adam Back’s Paradox
Hashcash (1997): A spam filter, not money. Proof-of-Work was a tool, not an economy.
Blockstream (2014+): Built permissioned sidechains (Liquid), the antithesis of Bitcoin’s trustlessness.
The Truth: Understanding cryptography ≠ understanding sound money.
"Hashcash was a rate-limiter, not a currency. Bitcoin is something entirely different."
— Satoshi (2008)
Published at
2025-04-30 23:29:47Event JSON
{
"id": "55a6b622010704984b4f04ce2583f39baa87c1c4b2c52579387254f8ae5c7a56",
"pubkey": "4f47fc9248595f9540679fe79e391e660cf24811e6236813be2bd595e79f126c",
"created_at": 1746055787,
"kind": 1,
"tags": [],
"content": "Adam Back’s Paradox\n\n Hashcash (1997): A spam filter, not money. Proof-of-Work was a tool, not an economy.\n\n Blockstream (2014+): Built permissioned sidechains (Liquid), the antithesis of Bitcoin’s trustlessness.\n\n The Truth: Understanding cryptography ≠ understanding sound money.\n\n \"Hashcash was a rate-limiter, not a currency. Bitcoin is something entirely different.\"\n — Satoshi (2008)",
"sig": "19f438834eb468662ee2ee9d267da22b8bbda008be8d3b699fd366f8f83cd969a9e903ea4c6d1dd2be842978c4d945c72585adec328af926b6817d7284816744"
}
