Jason Lowery
Jason Lowery 7 minutes reading from Bitcoin

11 (12) Propositions for #BTC

1/12) Here's the core hypothesis I'm presenting with my thesis about BTC. Please review & LMK what u think. cc: @adam3us

@saylor

PoW is a compsci revolution which fundamentally turns the environment itself into a computer, then connects that computer back into the internet.

2/12) Unlike normal computer programs, PoW protocols like BTC program the state of the environment *OUTSIDE* of our computers, not just the states inside of them. It effectively treats the global electricity grid as a giant motherboard on a giant computer, then programs it

3/12) PoW protocols bridge cyberspace & physical reality. When people talk about "proofs" of work (aka power) they are not ONLY talking about abstract meaning (machine code) assigned to transistor states, they're also talking machine code applied to quantities of physical power

4/12) By doing this, REAL quantities of power convert to DIGITAL form (which ppl arbitrarily call "coin"). Its name is irrelevant, what matters is it's a REAL thing in a previously only IMAGINARY domain. Proofs of Work convert a REAL thing into a VIRTUAL replica of itself🤯

5/12) But why TF would u want to make a physically constrained state mechanism & plug it into internet? To add a physically constrained state space to cyberspace! Unlike everywhere else, this state space would be physically & thermodynamically sound & NOT virtual.

6/12) There's big use cases f/physically & thermodynamically constrained state spaces, like security. In this state space, users could impose REAL WORLD physical costs on each other in, from, & through cyberspace, applying PHYSICAL constraints, not (hackable) LOGICAL constraints

7/12) And what's something u would want to keep super secure by applying PHYSICAL constraints? Control authority over the state space & ledger recording the position of its reusable proofs of work. Thus Bitcoin is proof of its own merit as a cyber SECURITY protocol, NOT money

8/12) If u want to verify realness or keep ur program secure by imposing real-world physical costs on attackers, create APIs which increase benefit-to-cost-of attacking (BCRA) control signals by reject any control action that isn't accompanied by a BTC PoW.

9/12) If u arbitrarily choose to call PoWs "coins" then u could arbitrarily call this a paywall. But what is happening is that u're imposing REAL WORLD PHYSICAL COST on people w/abstract power & control authority over ur computers in, from, through cyberspace

10/12) At scale & speed (thx to lightning), this technique could become so effective BTC state space would get globally adopted as the base-layer "proof-of-real-power" protocol & foundational state space of the internet... making it extraordinarily

valuable real estate...

11/12) But that is just the beginning of the rabbit hole. If these hypotheses are true, then BTC is not just revolutionary for cyber security, it's revolutionary for ALL forms of strategic security & can be used to defend against way more than just computer programmers...

12/12) But you'll have to read the thesis once MIT publishes it next year to learn more 😉

reduce* BCRA not increase

@adam3us @tip_nz computer programmers abstract away the machine code level and don't think about the underlying state mechanism. the "stamo" of your PoW protocol doesn't just apply abstract meaning to the state of the transistors, it's the state of the power required to solve the hash function

@adam3us @tip_nz so the "bridge" is created by the fact that your PoW protocol effectives sets the state of the state machines running "equal" to the state of the environment (the real-world power deficit) outside of the state machines running it. PoW turns electricity producers into transistors!

This post is based on this twitter thread.

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