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From Help to Gentleman: A Tale of Social Mobility

Where do they live exactly? What happens to them when they get lost? Will they ever die, like all software before them? How?? These and more questions, in this short story. Economics Satoshi Nakamoto set into motion the creation, and eventual destruction, of all 21 million bitcoins in existence. But like entropy creates wonderful things, such as the evolution of complex life forms, so too does Bitcoin and its halvings, with the evolution of cooperative technologies like the lightning network, multi-sig, conjoin, zero-knowledge proofs, and even the trail of 30,000 crypto projects tagging behind can be thought of as Bitcoin’s children. Eating its leftovers, and whatever it is too proud to eat. Especially important is how Bitcoin facilitates the speedy collapse of ponzi-scheming bank-like businesses like FTX. If Bitcoin had not existed, the FED would have given SBF a nice fat loan to save his a**. Alas, if you lose Bitcoins and try to buy them back with a loan, the price shoots up fast to expose you and your cronies. Bitcoin is thus the best moderator of the government’s appetite for expanding credit. Something which if not reigned in, helps fuel not just economic collapse but World Wars. Yes, the World Wars were financed by credit expansion. No more. There just isn’t enough room for credit expansion like that, for governments to misuse. And it could get smaller. But let us dial back to the beginning. Back to the days when CDOs wrecked the world’s financial markets. Origin Once upon a time, location unknown, it was 2008. There was probably noise outside from people shouting for the heads of the Wall Street moguls who had mercilessly vaporized their life savings. Sitting in his room and most comforted by the fact that he was a nobody, unfamous and unrecognized, was the man who would change the world of digital finance. The man who would put strange new ideas in the minds of kids dumping their Physics textbooks in the toilet, to go learn how to be Wolves of Wall Street. Dollar signs in their eyes, scientific reality be damned. This man was called __. That’s right, I do not know his name. Thankfully, he has a name he wants me to call him. “ ” Satoshi Nakamoto. The legend. The man whose pseudo-name will be used for the smallest unit of the Bitcoin cryptocurrency. Today is the day he puts it all together. It weighs virtually nothing at all. And if it were a book, it would hardly beat the Oxford English dictionary. It is the code of Bitcoin, his baby. An alien creature in the software world. With elements immune to copying the more users get a copy of the code. Elements that ossify, like energetic magma turning into precious rocks. All other software has elements that are easier to copy, paste, modify, and hack, the more users get their hands on it. Makes sense right? I mean, more users, more developer intelligence to hack the ossified parts? Wrong. These elements are the ones they will all call bitcoins, or satoshis. It is time to breed them on his laptop. See how they behave. He presses the RETURN key. Deep inside his laptop, a series of quantum mechanical events are set into motion to produce these bitcoins. It is an intricate dance, and if the clock is not synchronized just right, if the CPUs are not well-dusted, bye-bye genius idea. So, he has reviewed the code obsessively like a maniac prisoner on death row, reading and re-reading the constitution to save his ass from hanging. 10 minutes later, the first 50 BTCs are born. He punches the air. ‘Whoop’. He loves code. God bless all coders on Earth. If everyone on earth were a coder, nobody would be cheated by big finance, propagandized by big news, or surveilled by big politics. Quickly, he puts his favorite newspaper heading on it. Timestamps it for all the world to see, for as long as his creation lives. “The Times 03/Jan/2009/ Chancellor on Brink of second bailout for banks” Satoshi probably runs an O/S alike Kali Linux (which will be invented in 2013), with feelers straightened out for the slightest whiff of eavesdropping in the air. His laptop has been air-gapped these last many years, but now, he has to connect to the jungle that is the internet. Like any jungle, there is food, and there are predators. There is also a ton of mediocrity and below all that, even more sh*t. Tomorrow, he will unleash it, let it go native. Bitcoin belongs in this jungle, not his laptop. It will become a predator like no other. Would you look at that, some predator is sniffing at it already. Aargh, doesn’t smell like a Social Security number. It moves on. Vanishes more like. Haha. Satoshi laughs. He loves seeing these bots in action, zapping to and fro the internet highway. While the average person sees nothing, with his Kali-Linux-like feelers, he catches the equivalent of shooting stars, trying to hit his Windows. They all vaporize before landing. If he wanted, he would be working for GF - Google & Facebook. Or, he’d have his own multimillion-dollar company. Or maybe, steal all of next year’s meals, and live in this basement for another year. Like some of these top-notch predators. Nah. This is better. This is the game. “Satoshi??” The wife is calling. “Satoshi” “Dear.” “Dinner is ready.” He stands up. Stretches his muscular body out real nice. He is actually hungry, starving. Divisibility Is Not Debasement He loves this internet place. Been a week since he started chatting with nice, super smart chaps who speak code, logic, and mathematics, and the reception he is getting is all good. Nobody is getting jealous that he made his own bitcoins in his bedroom. To the thousands now. Not yet. He hopes it doesn’t happen before a critical mass of support is reached. Turns out he actually forgot something. The guys remind him that 21 million bitcoins are not enough for 7 billion people. Strangely enough, it is data from the CIA that will help determine how many Bitcoin satoshis there should be. The CIA helps create Bitcoin! Without knowing, I should add. Here is the to the story. link The conversation below is not on any forum, but it might have happened: Satoshi: “So you want me to divide these bitcoins?” Hal Finney: “Yeah” Ray Dilinger: “Indeed” Satoshi: “Hope you know this isn’t like Jesus feeding the 5000. And I will still make the subdivisions immortal to copying and counted as divisions of the full BTC” Interestingly, a lot of people in the future, 15 years later, still do not get this part. They still think that because BTC can be divided into satoshis, it can be debased. It is like thinking if you take a $100 note to the bank and are returned 10,000 pennies, you are somehow poorer. Your money has been debased? Noo. You’re actually richer because all that metal is more valuable than a single paper note. This is a classic cognitive bias called ‘Anchoring’ – Jumping to conclusions too early. Let’s jump into the future. Which is the present. It is the future. On the 14th of January, 2024, tweep @SamanthaLaDuc got this infinite money idea and yapped about it all over the place. Samantha felt that because each bitcoin can be divided into 100 million smaller portions called satoshis or “sats’, Bitcoiners cannot claim scarcity or lack of dilution … She ends by saying she did MATH. How does it happen? How does the system know these satoshis are the only satoshis in the Bitcoin blockchain? Where are these 21 million bitcoins, or if you prefer, 2.1 quadrillion satoshis? And can we make more of them? There Can Only be 2.1 Quadrillion The first thing to tell us we may be at the limits of how many divisions Bitcoin can suffer is the IEEE-754 standard for 64-bit computers. As Bitzuma.com in the previously linked story writes: To avoid turning Bitcoin into an accounting minefield, the number of total currency units must be kept below the IEEE rounding threshold - now and a hundred years in the future. The IEEE rounding threshold is 2^53 which is approximately 9 x 10^18. 2.1 quadrillion satoshis is approximately 2 x 10^15, so if we were to divide our satoshis some more, we could only divide into 4500 smaller units before the ALU (Arithmetic and Logic Unit) inside most computer CPUs starts getting lost in math. Like LaDuc. Any larger and the Bitcoin blockchain is going to become very bad at keeping records of the number of bitcoins in wallets, bitcoin divisions during halvings, etc. We wouldn’t want that. So if these satoshis are pushing memory counters to the limit, then they are pushing our computers to the limit. Who would have thought infinitely making Bitcoin subdivisions is impossible? Well, now we know. On Blackholes and Quantum-Resistance Like people forget their car keys and house keys, people forget their private keys (or seed phrases) and once this happens, they can no longer sign transactions, and their Bitcoin satoshis or sats, are lost to cyberspace in the world that is the Bitcoin blockchain. They are not really lost though, these are misplaced, and there is hope that when technologies such as quantum computing mature, they will be retrieved. To briefly expound, this promise of quantum computing rests on the theoretical conclusions of an algorithm called Shor’s factoring algorithm. Shor’s factoring algorithm allows a quantum computer with a to crack open a Bitcoin wallet address without the need for a private key. couple of million logical qubits The power of this algorithm provides logarithmic speedup, so it is really fast if we can get our hands on those logical qubits. Like you press the button, and only 8 hours later, the wallet is cracked open. No sweat. An alternative quantum algorithm is called Grover’s search algorithm, and this one provides a quadratic speedup. So, it is not as fruitful as Shor’s. This one would work by super-brute-force searching for all possible prime factors to eventually land on the right ones that form the correct private key. This is why today all sorts of quantum-resistant cryptographic schemes are being hatched. But I find this sort of thing a little ridiculous. Like building bunkers before splitting the atom, we are currently building digital bunkers before splitting the cryptographic atom. But why it is happening is because it is big government that is most scared of a quantum hacking system. A nuke empowers a government to threaten another with destruction, so that is why Oppenheimer and his buddies got a private village and many billions of dollars to build this weapon. A quantum hacking system, on the other hand, targets individually owned encrypted addresses, so the chance of it backfiring on its creators is a big one. For we are all individuals. Better to NOT create it, hence big-time pioneering work in quantum resistance. Bitcoiners are quite safe, and they really shouldn’t worry. A quantum hacking system will be deployed first on centralized systems with big secrets locked behind RSA and SHA-2 encryption before the hackers think of stealing your couple of Bitcoins. Moreover, the energy budget of running the hack on a one million logical qubit system, which will be something like a one billion physical qubit system, will be prohibitive. We are talking about a computer bigger than a plane hanger, with all parts cooled to nearly absolute zero. The return on that investment is only of seismic proportions if we are hacking something that should be hacked. Endnotes I have yet to mention black holes. Satoshis that get misplaced or inaccessible within the blockchain can be recovered, and are like items lost in the vast expanse of space. Except this is cyberspace. Hacking systems are like a quick way to search for these items without using eyes e.g., if you have a big powerful magnet, you can attract a bunch of keys lost in outer space. However, satoshis can be burned. Destroyed forever. These satoshis are said to have entered a black hole and technically, are as gone as data sent into the recycle bin on your PC and recycled, is gone. Crushed and turned into hawking radiation if it is a black hole, or heat if it is the recycle bin. Basically, all memory circuits are reset to 0. Releasing all the energy stored in various parts that were holding onto a 1. As the Bitzuma article I shared shows, a lot of satoshis have been burned already. And people keep burning some by sending them into the Genesis block, as a way of paying homage to Satoshi. The Genesis block is a black hole for none of the sats that go in there will ever return. When Bitcoin finally runs out of worldwide utility, perhaps because mining blocks is a net negative expense and too many satoshis are lost anyway, people will discard their hard drives containing the Genesis block. They will send it to the recycle bin, essentially finalizing the demise of all those satoshis in there. Like the entropic decay of the universe, Bitcoin satoshis are decaying into waste heat. But no worries, we can start it all over again. Perhaps better, for we shall have quantum networks then, hence, the ability to create truly synchronized blockchain operations using entanglement.

21M Bitcoins/2.1 Quadrillion Satoshis

OUT OF TUNE.

Showing How George Vavasor Received a Visit

THE INDIA OFFICE

A Barouche and Four Arrives at Greshamsbury

The Way We Live Now by Anthony Trollope is part of the HackerNoon Books Series. You can jump to any chapter in this book . ALL PREPARED here ALL PREPARED. During all these days Miss Melmotte was by no means contented with her lover's prowess, though she would not allow herself to doubt his sincerity. She had not only assured him of her undying affection in the presence of her father and mother, had not only offered to be chopped in pieces on his behalf, but had also written to him, telling how she had a large sum of her father's money within her power, and how willing she was to make it her own, to throw over her father and mother, and give herself and her fortune to her lover. She felt that she had been very gracious to her lover, and that her lover was a little slow in acknowledging the favours conferred upon him. But, nevertheless, she was true to her lover, and believed that he was true to her. Didon had been hitherto faithful. Marie had written various letters to Sir Felix, and had received two or three very short notes in reply, containing hardly more than a word or two each. But now she was told that a day was absolutely fixed for her marriage with Lord Nidderdale, and that her things were to be got ready. She was to be married in the middle of August, and here they were, approaching the end of June. "You may buy what you like, mamma," she said; "and if papa agrees about Felix, why then I suppose they'll do. But they'll never be of any use about Lord Nidderdale. If you were to sew me up in the things by main force, I wouldn't have him." Madame Melmotte groaned, and scolded in English, French, and German, and wished that she were dead; she told Marie that she was a pig, and ass, and a toad, and a dog. And ended, as she always did end, by swearing that Melmotte must manage the matter himself. "Nobody shall manage this matter for me," said Marie. "I know what I'm about now, and I won't marry anybody just because it will suit papa." "Que nous étions encore à Francfort, ou New York," said the elder lady, remembering the humbler but less troubled times of her earlier life. Marie did not care for Francfort or New York; for Paris or for London;—but she did care for Sir Felix Carbury. While her father on Sunday morning was transacting business in his own house with Paul Montague and the great commercial magnates of the city,—though it may be doubted whether that very respectable gentleman Sir Gregory Gribe was really in Grosvenor Square when his name was mentioned,—Marie was walking inside the gardens; Didon was also there at some distance from her; and Sir Felix Carbury was there also close along side of her. Marie had the key of the gardens for her own use; and had already learned that her neighbours in the square did not much frequent the place during church time on Sunday morning. Her lover's letter to her father had of course been shown to her, and she had taxed him with it immediately. Sir Felix, who had thought much of the letter as he came from Welbeck Street to keep his appointment,—having been assured by Didon that the gate should be left unlocked, and that she would be there to close it after he had come in,—was of course ready with a lie. "It was the only thing to do, Marie;—it was indeed." "But you said you had accepted some offer." "You don't suppose I wrote the letter?" "It was your handwriting, Felix." "Of course it was. I copied just what he put down. He'd have sent you clean away where I couldn't have got near you if I hadn't written it." "And you have accepted nothing?" "Not at all. As it is, he owes me money. Is not that odd? I gave him a thousand pounds to buy shares, and I haven't got anything from him yet." Sir Felix, no doubt, forgot the cheque for £200. "Nobody ever does who gives papa money," said the observant daughter. "Don't they? Dear me! But I just wrote it because I thought anything better than a downright quarrel." "I wouldn't have written it, if it had been ever so." "It's no good scolding, Marie. I did it for the best. What do you think we'd best do now?" Marie looked at him, almost with scorn. Surely it was for him to propose and for her to yield. "I wonder whether you're sure you're right about that money which you say is settled." "I'm quite sure. Mamma told me in Paris,—just when we were coming away,—that it was done so that there might be something if things went wrong. And papa told me that he should want me to sign something from time to time; and of course I said I would. But of course I won't,—if I should have a husband of my own." Felix walked along, pondering the matter, with his hands in his trowsers pockets. He entertained those very fears which had latterly fallen upon Lord Nidderdale. There would be no "cropper" which a man could "come" so bad as would be his cropper were he to marry Marie Melmotte, and then find that he was not to have a shilling! And, were he now to run off with Marie, after having written that letter, the father would certainly not forgive him. This assurance of Marie's as to the settled money was too doubtful! The game to be played was too full of danger! And in that case he would certainly get neither his £800, nor the shares. And if he were true to Melmotte, Melmotte would probably supply him with ready money. But then here was the girl at his elbow, and he no more dared to tell her to her face that he meant to give her up, than he dared to tell Melmotte that he intended to stick to his engagement. Some half promise would be the only escape for the present. "What are you thinking of, Felix?" she asked. "It's d—— difficult to know what to do." "But you do love me?" "Of course I do. If I didn't love you why should I be here walking round this stupid place? They talk of your being married to Nidderdale about the end of August." "Some day in August. But that's all nonsense, you know. They can't take me up and marry me, as they used to do the girls ever so long ago. I won't marry him. He don't care a bit for me, and never did. I don't think you care much, Felix." "Yes, I do. A fellow can't go on saying so over and over again in a beastly place like this. If we were anywhere jolly together, then I could say it often enough." "I wish we were, Felix. I wonder whether we ever shall be." "Upon my word I hardly see my way as yet." "You're not going to give it up!" "Oh no;—not give it up; certainly not. But the bother is a fellow doesn't know what to do." "You've heard of young Mr. Goldsheiner, haven't you?" suggested Marie. "He's one of those city chaps." "And Lady Julia Start?" "She's old Lady Catchboy's daughter. Yes; I've heard of them. They got spliced last winter." "Yes,—somewhere in Switzerland, I think. At any rate they went to Switzerland, and now they've got a house close to Albert Gate." "How jolly for them! He is awfully rich, isn't he?" "I don't suppose he's half so rich as papa. They did all they could to prevent her going, but she met him down at Folkestone just as the tidal boat was starting. Didon says that nothing was easier." "Oh;—ah. Didon knows all about it." "That she does." "But she'd lose her place." "There are plenty of places. She could come and live with us, and be my maid. If you would give her £50 for herself, she'd arrange it all." "And would you come to Folkestone?" "I think that would be stupid, because Lady Julia did that. We should make it a little different. If you liked I wouldn't mind going to—New York. And then, perhaps, we might—get—married, you know, on board. That's what Didon thinks." "And would Didon go too?" "That's what she proposes. She could go as my aunt, and I'd call myself by her name;—any French name you know. I should go as a French girl. And you could call yourself Smith, and be an American. We wouldn't go together, but we'd get on board just at the last moment. If they wouldn't—marry us on board, they would at New York, instantly." "That's Didon's plan?" "That's what she thinks best,—and she'll do it, if you'll give her £50 for herself, you know. The 'Adriatic,'—that's a White Star boat, goes on Thursday week at noon. There's an early train that would take us down that morning. You had better go and sleep at Liverpool, and take no notice of us at all till we meet on board. We could be back in a month,—and then papa would be obliged to make the best of it." Sir Felix at once felt that it would be quite unnecessary for him to go to Herr Vossner or to any other male counsellor for advice as to the best means of carrying off his love. The young lady had it all at her fingers' ends,—even to the amount of the fee required by the female counsellor. But Thursday week was very near, and the whole thing was taking uncomfortably defined proportions. Where was he to get funds if he were to resolve that he would do this thing? He had been fool enough to intrust his ready money to Melmotte, and now he was told that when Melmotte got hold of ready money he was not apt to release it. And he had nothing to show;—no security that he could offer to Vossner. And then,—this idea of starting to New York with Melmotte's daughter immediately after he had written to Melmotte renouncing the girl, frightened him. "There is a tide in the affairs of men, Which taken at the flood leads on to fortune." Sir Felix did not know these lines, but the lesson taught by them came home to him at this moment. Now was the tide in his affairs at which he might make himself, or utterly mar himself. "It's deuced important," he said at last with a groan. "It's not more important for you than me," said Marie. "If you're wrong about the money, and he shouldn't come round, where should we be then?" "Nothing venture, nothing have," said the heiress. "That's all very well; but one might venture everything and get nothing after all." "You'd get me," said Marie with a pout. "Yes;—and I'm awfully fond of you. Of course I should get you! But—" "Very well then;—if that's your love," said Marie, turning back from him. Sir Felix gave a great sigh, and then announced his resolution. "I'll venture it." "Oh, Felix, how grand it will be!" "There's a great deal to do, you know. I don't know whether it can be Thursday week." He was putting in the coward's plea for a reprieve. "I shall be afraid of Didon if it's delayed long." "There's the money to get, and all that." "I can get some money. Mamma has money in the house." "How much?" asked the baronet eagerly. "A hundred pounds, perhaps;—perhaps two hundred." "That would help certainly. I must go to your father for money. Won't that be a sell? To get it from him, to take you away!" It was decided that they were to go to New York, on a Thursday,—on Thursday week if possible, but as to that he was to let her know in a day or two. Didon was to pack up the clothes and get it sent out of the house. Didon was to have £50 before she went on board; and as one of the men must know about it, and must assist in having the trunks smuggled out of the house, he was to have £10. All had been settled beforehand, so that Sir Felix really had no need to think about anything. "And now," said Marie, "there's Didon. Nobody's looking and she can open that gate for you. When we're gone, do you creep out. The gate can be left, you know. Then we'll get out on the other side." Marie Melmotte was certainly a clever girl. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Anthony Trollope (2004). The Way We Live Now. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/cache/epub/5231/pg5231-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

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