Dan Hedl Profile picture
Follow me to learn about #Bitcoin. Growth @Krakenfx | Prior @InterchangeHQ (acq by @Krakenfx), Growth @Uber, PM @Blockchain, @ZeroBlock (acq by @Blockchain)
Oct 4, 2018 25 tweets 6 min read
1/ Many people think Bitcoin’s distribution wasn’t fair, or that Satoshi “stealth mined.” Below I dive into early mining, inequality, distribution, and ethics.

For a deeper dive, my Medium post: medium.com/@danhedl/bitco…

TL;DR - check out this thread 👇 2/ Satoshi didn’t premine. Satoshi gave everyone a 2 month heads up before mining the Genesis block, reaching out to the only other people who would possibly be interested in experimenting with a sovereign digital currency at the time, the cypherpunks. @MartyBent
Sep 25, 2018 10 tweets 2 min read
1/ Bitcoin as Digital Gold: Information Theory of Money @GeorgeGilder

This tweet storm is my distillation/tweak of his narrative. A thread 👇 2/ Money is the central information utility of the world economy. As a medium of exchange, store of value, and unit of account, money is the critical vessel of information about the conditions of markets around the globe in both time and space.
Sep 14, 2018 25 tweets 10 min read
1/ Most people think #Bitcoin’s PoW is "wasteful." I explore how everything is energy, money is energy, subjective use of energy, and PoW's costs relative to existing governance systems

For a deeper dive, my Medium post: medium.com/@danhedl/pow-i…

TL;DR - check out this thread 👇 2/ The idea of “work” being energy started when the French Mathematician Gaspard-Gustave de Coriolis introduced the idea of energy being “work done.” A long time ago, the work done in the economy was entirely human. That work was powered by food.
Aug 31, 2018 25 tweets 7 min read
1/ Hodlers are the revolutionaries. A reflection on the important role hodlers play in developing Bitcoin’s network (and other cryptocurrency networks).

For a deeper dive please read my Medium post: medium.com/@danhedl/hodle…

For the TL;DR, check out this thread 👇 2/ “In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.” - Mark Twain
Aug 24, 2018 20 tweets 6 min read
1/ A complete debunking of top Lightning FUD claims: 2/ “Lightning is an IOU”

In no way are they transactions IOUs. The money you receive in a channel is under your complete control instantly. You may spend, or transfer back to the blockchain at your leisure
Aug 22, 2018 13 tweets 3 min read
1/ Most people have misconceptions about PoW being "wasteful." Because this narrative is so popular, I've spent some time collecting my thoughts on its utility, efficiency, and morality. A thread: 2/ “that in order to make a man/woman covet a thing, it is only necessary to make the thing difficult to attain.” - Mark Twain

A ledger can only be immutable if and only if it is costly to produce. The fact that PoW is “costly” is a feature, not a bug.
Aug 21, 2018 10 tweets 2 min read
1/ Sending Bitcoin to the Cypherpunk mailing list on October 31, 2008 was the clear choice. This was the right group to gather feedback from, the right channel to engage with. 2/ The Cypherpunks were activists advocating widespread use of strong cryptography, as a route to social and political change. They had predicted the dawn of cryptocurrency years before in their many manifestos: