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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Done with chapter 2 of the Bitcoin Standard. Even if you have no interest in Bitcoin, it's worth reading this just to understand this history of money, and why we no longer use beads, shells, etc. Also the comparison of Rai stones to Bitcoin was fascinating.
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"The history of China and India, and their failure to catch up to the West during the 20th century, is inextricably linked to this massive destruction of wealth and capital brought about by the demonetization of the monetary metal these countries utilized."
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Reading
@RayDalio while back, I had the suspicion that altcoins are nothing more than the expansion of the credit market. Seems like chapter 3 of The Bitcoin Standard confirms this.3 replies 6 retweets 19 likesShow this thread
altcoins are not credit tho - theyre analogous to credit expansion in a credit money system but not identical to it.
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