Just read the foreword by @nntaleb and chapter 1 of The Bitcoin Standard by @saifedean. I was going to read other books concurrently, but now I want to finish this fast to really get into his mindset. So far, I like how he's using 1st principles to explain the history of money.
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can you summarise?
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I might write a short blog review later, but the summary would be brief and won't capture full content of the book.
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proponents of bitcoin often imply that it will revolutionise the monetary system, but its hard to imagine how and they seldom provide details so Id be interested in reading a serious proposal from someone who understands banking
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Replying to @_Vimothy_ @MimeticValue and
interested, do you understand the mechanics of bitcoin?
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Replying to @vin_thetown @MimeticValue and
to a degree. but it's institutions are probably more relevant here
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Replying to @_Vimothy_ @MimeticValue and
The truth is btc isn't ready to onboard massive institutions, but the ecosystem grows- LN, liquid, etc. for sound money read austrian economics, btc can be sound money, under control of no one, diff to expand supply. As the tech advances it will onboard much of what is modern fin
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Replying to @_Vimothy_ @MimeticValue and
Well, difficult to do in a tweet! I cited Austrian econ for ref to readings on banking within a system that does not have monetary manipulation as a tool. on btc: for example look at liquid and see one example of how fin assets can be migrated and used on top btc.
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liquid is interesting thanks for that reference. think it illustrates a particular conundrum common to crypto however which is to what extent does it need to replicate existing financial institutions vs to what extent does it represent a radical transformative break
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Replying to @_Vimothy_ @vin_thetown and
crypto romantics hope it's the latter but practical necessity is constantly pushing it towards the former
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Replying to @_Vimothy_ @MimeticValue and
I think it'll be both. It will offer individual sovereignty in sound money basis whilst tech will offer more and more financial applications
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