Webonanza publishes “news you can use” at the intersection of media, technology and economics – with a clear focus on personal finance. Simple logic and real-world examples are preferred before technical jargon.
We naturally cover the world of crypto and personal finance, new economic opportunities online, as well as legal questions, history, philosophy, technology, money, communication, psychology, game theory, AI, privacy, anonymity and general digital disruption and subversion – as well as personal stories, perspectives and narratives.
The Internet has surprised us time and again with permissionless technologies disrupting incumbents. Webonanza covers those disruptions.
The ideas published in Satoshi Nakamoto’s 2008 white paper are becoming the foundation for a whole new kind of Internet of money, and it’s changing almost everything we know about how companies are formed, funded and executed.
Our mission is to empower our readers/viewers. Our journalism is produced independent from commercial interests.
Webonanza is headed by The Narrator, and produced in collaboration with Tyler Durden and friends.
On grammar, syntax and abbreviations;
We use a capital “B” when referring to the “Bitcoin network”, but a lower-case “b” when referring to “a bitcoin” (the currency).
We use “the blockchain” when referring to the blockchain of Bitcoin (even thou Satoshi himself called it “block chain”). We use “blockchains” with a lower-case “b” when talking about the altcoins, the Bitcoin copies (what some people call “the technology behind Bitcoin”). The expression itself originated in Satoshi’s code. In the original Bitcoin client (later named Bitcoin Core) there is a class called “block chain”.
BTC = “bitcoins” (the units of account).
XBT = the currency, mostly used when displaying an exchange rate.
IP = “Intellectual Property”
ID = “Identification”
Dapp = “Decentralized App”
DAO = “Decentralized Autonomous Organisation”
There are one million “bits” in a bitcoin, but only one thousand “millibits” (mbits). Each bit can also be divided into 100 “satoshis” (which currently is the smallest denomination in the Bitcoin network). There are 100 million satoshis in one bitcoin. More on units here.
Inflation (controlled supply);
There can never be more than 21 million bitcoins, and all of them will have been mined around the year 2140. In practice there will be less as some are lost or burned. Currently approx. 1800 bitcoins are “minted” (mined using energy) every 24 hours. That amount is halved approx. every four years (more on inflation here).
Ps 2: “If you are reading this then this warning is for you. Every word you read of this is useless fine print is another second off your life. Don’t you have other things to do? Is your life so empty that you honestly can’t think of a better way to spend these moments? Or are you so impressed with authority that you give respect and credence to all who claim it? Do you read everything you’re supposed to read? Do you think everything you’re supposed to think? Buy what you’re told you should want? Get out of your apartment. Meet a member of the opposite sex. Stop the excessive shopping and masturbation. Quit your job. Start a fight. Prove you’re alive. If you don’t claim your humanity you will become a statistic. You have been warned… Tyler”
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