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
The internet took away the role of intermediary and freed information to flow, no monopoly on info. Bitcoin will do the same for value transfer, no intermediary(at least not proprietary) and people can trust that no gov entity will corrode monetary value. This will take decades.
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btw its definitely possible for govts to manipulate the price of Bitcoin, but even if it werent, it still wouldn't guarantee stability
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Replying to @_Vimothy_ @MimeticValue and
Bitcoin will not offer stability for a very long time. If it did it wouldn't be revolutionary. Stability will come above 5/10 trillion
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