Silverback Kent Halliburton lives in the jungle of Sintra, Portugal where he observes and comments on the now and future world of Bitcoin. His newsletter, Kent’s Corner, is free and contains the following regular features:
Kent’s Daily Rant
Here’s an example:
It’s an age, a digital age. And I came from an analog one, albeit just in childhood.
Growing up through the collision of those two ages is the defining characteristic of the micro-generation known as the Xennials, the group born between ‘77 and ‘85. I’m betting you haven’t heard of us either. Home computers, flip phones, and the Internet were all pieces of technology dropping into place as our childhoods progressed, allowing us to know what life was like before they existed, but also able to wrap ourselves around these new tools with the affinity of a toddler learning a second language. We’re not digitally native, but more importantly, we’re the bridge generation for those that are.
Why do I think that’s important? Because our childhoods existed when the time-honored experience of team sports, face-to-face socializing, and driving-distance social relations were the norm. We grew up before technology allowed children to get out over their evolutionary skis. That’s a dangerous place to be. Thankfully, because we Xennials exist with a foot on each side of the analog-to-digital divide, we can relate to the problems the digital environment has created. As our generation ages into the mature adult and elder categories over the next 40 years, I see our generation’s role will be to address the problems created by the digital world.
Now, I don’t for a minute think that we should be rolling back any of this tech or outlawing Moore’s law from deflating technology’s cost to every human. But we need to bring the human body’s presence into the equation, not just the mind. We’re emotional creatures who evolved rational capabilities, not the other way around. The pendulum has swung too far. The digital world has made it very easy to untether our minds from our bodies. Indeed our first, and current take on the Web has been defined by addicting our attention away from our bodies. Perhaps the increasing societal acceptance of psychedelics is a recognition of needing to re-tether to our bodies. Either way, when the digitally native generations wake up to the realization that they can’t escape their evolutionary past, we’ll be here to remind them how to get back to themselves.
There’s also a Bitcoin Price Prediction
Yesterday: $55k – $62k
We got our next attempt to push past $60k today, only to have it soundly rejected again. Yesterday’s price action played out pretty much as anticipated staying between $57k-$59k. Today’s rejection from $60k creates a pivotal moment. I continue to suspect we break up past $60k by the end of this week, but the heavy selling volume at $60k opens the door for the price to drop further. If we close below $57k today, then there’s a good chance we’ll be testing the $52k region before we can break $62k again. If you were sufficiently confused, let me make this simple: over $57k, and the path to a new all-time high is still clear. Below, and we’re going to range in the $52k – $62k region for a while.
Tomorrow: $52k – $60k
Each issue also contains a Bitcoin Q&A such as this one:
Q: How is hashing used in Bitcoin mining?
A: Hashing is used to mine new Bitcoin blocks.
Recall hashing is “data in” -> “unique hash out.” In the Bitcoin mining sense, the “data in” is the set of transactions that make up a new block. The Bitcoin rules give all miners a prefix that must match the beginning digits of a new block. This prefix is adjusted every two weeks. The only way to “solve” for this prefix is to continually hash and rehash the block’s data until the prefix is matched. At that point, the block is considered “solved” and broadcast to the Bitcoin network, allowing the miner to receive the block rewards and transaction fees.
Favorite Things on the Interwebs Today
… which is something fun and funky to amuse you. such as this picture of the southern pole of Jupiter: