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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Hugo Nguyen‏ @hugohanoi Jul 24

      Hugo Nguyen Retweeted Hugo Nguyen

      1/ IMO Bitcoin HODLers *can* become free riders. Clarifying my thoughts here. If you think my logic is wrong, pls comment! Economics is one of the areas I both love & hate because it’s such a pseudo-science. But it’s still important to think things thru.https://twitter.com/hugohanoi/status/1021131553336786945 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      1/ My thoughts RE: “HODLing == free riding?” that @naval raised. Building on @real_vijay’s thoughts as well. https://twitter.com/real_vijay/status/1019804185334722560 …
      Show this thread
      4 replies 6 retweets 11 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Jul 24

      2/ When Bitcoin does become the world’s primary currency, its market cap will stabilize & fluctuate much less wildly. Any increase in the currency value at that point will be due more to the increase in general level of production / total number of available goods & services…

      2 replies 3 retweets 3 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Jul 24

      Hugo Nguyen Retweeted Hugo Nguyen

      3/ …and less due to the people’s buying in to the vision of Bitcoin. The market of people who could be convinced of BTC would have already been saturated. The ideological conviction that’s required to bootstrap BTC will matter less at that point.https://twitter.com/hugohanoi/status/1021133723423584256 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      18/ Conviction is most useful when you hold a contrarian view. Conviction is not a big deal when most people already believe in it.
      Show this thread
      1 reply 1 retweet 1 like
      Show this thread
      Hugo Nguyen‏ @hugohanoi Jul 24

      4/ As long as GDP keeps increasing, your bitcoins will also increase in purchasing power - since BTC supply is fixed & there're more goods going around. This happens even when you sleep or when you stop working.

      2:17 PM - 24 Jul 2018
      • 2 Retweets
      • 1 Like
      • Javier Bastardo @Cryptocoin
      1 reply 2 retweets 1 like
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jul 24

          5/ Investing in a currency is unlike investing in a stock because stocks represent productive assets, and any potential rise in stock value can be attributed back to your initial investment. You are not free riding.

          1 reply 1 retweet 1 like
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi Jul 24

          Hugo Nguyen Retweeted Brendan Bernstein

          6/ Whereas if you invest in a currency & it gains in purchasing power, that is through the collective effort of society, not your own. Check out this good article from @BMBernstein that stresses the crucial difference between equity & money:https://twitter.com/BMBernstein/status/1021065633285500929 …

          Hugo Nguyen added,

          Brendan Bernstein @BMBernstein
          The debate around pts @naval raised is just about exhausted, but instead of banging my head against the wall I figured I'd chime in. This article discusses some of the fundamental misconceptions in crypto and the pivotal role investors play https://medium.com/@BMBernstein/cryptocurrencies-are-money-not-equity-30ff8d0491bb …
          1 reply 1 retweet 0 likes
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi Jul 24

          7/ Not all Bitcoin hoarders will be free riders of cos, but many will be. There’s a personal level of contribution that makes you a free rider or not.

          1 reply 0 retweets 1 like
          Show this thread
        5. Hugo Nguyen‏ @hugohanoi Jul 24

          8/ A much simplified example: you own 1% of all BTC supply, and the economy grew by 10%. If you contributed less than 1% of that 10% growth, you are a free rider.

          2 replies 0 retweets 0 likes
          Show this thread
        6. Hugo Nguyen‏ @hugohanoi Jul 24

          9/ The more you hoard & the less you contribute back *relative to the amount you hoard*, the more of a free rider you become.

          3 replies 0 retweets 1 like
          Show this thread
        7. Hugo Nguyen‏ @hugohanoi Jul 24

          10/ To clarify: I do think a shift towards saving mentality is a huge improvement over the blind consumption-for-consumptions-sake cycle we have now. But *saving alone* won’t be enough for a prosperous society. And IMO it’s important to be aware of its shortcomings.

          2 replies 0 retweets 1 like
          Show this thread
        8. Hugo Nguyen‏ @hugohanoi Jul 24

          Hugo Nguyen Retweeted Hugo Nguyen

          11/ Money != Equityhttps://twitter.com/hugohanoi/status/1021918438678122496 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          Money is not equity of the global economy 🙂 Money is not equity, period. When you park capital in a non-productive asset, it is OUT of the system completely. Decommissioned. The non-productive asset value can only rise if it piggybacks on the success of productive assets. https://twitter.com/timos_m/status/1021893267733000192 …
          1 reply 1 retweet 2 likes
          Show this thread
        9. Hugo Nguyen‏ @hugohanoi Jul 24

          Hugo Nguyen Retweeted Hugo Nguyen

          12/ Sliding scale not binaryhttps://twitter.com/hugohanoi/status/1021921656913068032 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ The benefit of HODLing is on a sliding scale, not a binary good/bad. It’s hugely beneficial when Bitcoin is in its infancy, when the network/value proposition is being bootstrapped. https://twitter.com/timos_m/status/1021888823012282368 …
          Show this thread
          1 reply 0 retweets 0 likes
          Show this thread
        10. Hugo Nguyen‏ @hugohanoi Jul 24

          Does this make any sense at all or am I crazy? 🤔 @real_vijay @nic__carter @TuurDemeester @BMBernstein

          2 replies 0 retweets 0 likes
          Show this thread
        11. End of conversation

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