Skip to content
  • Home Home Home, current page.
  • Moments Moments Moments, current page.

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @
  • Language: English
    • Bahasa Indonesia
    • Bahasa Melayu
    • Català
    • Čeština
    • Dansk
    • Deutsch
    • English UK
    • Español
    • Filipino
    • Français
    • Hrvatski
    • Italiano
    • Magyar
    • Nederlands
    • Norsk
    • Polski
    • Português
    • Română
    • Slovenčina
    • Suomi
    • Svenska
    • Tiếng Việt
    • Türkçe
    • Ελληνικά
    • Български език
    • Русский
    • Српски
    • Українська мова
    • עִבְרִית
    • العربية
    • فارسی
    • मराठी
    • हिन्दी
    • বাংলা
    • ગુજરાતી
    • தமிழ்
    • ಕನ್ನಡ
    • ภาษาไทย
    • 한국어
    • 日本語
    • 简体中文
    • 繁體中文
  • Have an account? Log in
    Have an account?
    · Forgot password?

    New to Twitter?
    Sign up
hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

Tweets

Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

Tweets

  • © 2018 Twitter
  • About
  • Help Center
  • Terms
  • Privacy policy
  • Cookies
  • Ads info
Dismiss
Previous
Next

Go to a person's profile

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @

Promote this Tweet

Block

  • Tweet with a location

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

    Your lists

    Create a new list


    Under 100 characters, optional

    Privacy

    Copy link to Tweet

    Embed this Tweet

    Embed this Video

    Add this Tweet to your website by copying the code below. Learn more

    Add this video to your website by copying the code below. Learn more

    Hmm, there was a problem reaching the server.

    By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.

    Preview

    Why you're seeing this ad

    Log in to Twitter

    · Forgot password?
    Don't have an account? Sign up »

    Sign up for Twitter

    Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.

    Sign up
    Have an account? Log in »

    Two-way (sending and receiving) short codes:

    Country Code For customers of
    United States 40404 (any)
    Canada 21212 (any)
    United Kingdom 86444 Vodafone, Orange, 3, O2
    Brazil 40404 Nextel, TIM
    Haiti 40404 Digicel, Voila
    Ireland 51210 Vodafone, O2
    India 53000 Bharti Airtel, Videocon, Reliance
    Indonesia 89887 AXIS, 3, Telkomsel, Indosat, XL Axiata
    Italy 4880804 Wind
    3424486444 Vodafone
    » See SMS short codes for other countries

    Confirmation

     

    Welcome home!

    This timeline is where you’ll spend most of your time, getting instant updates about what matters to you.

    Tweets not working for you?

    Hover over the profile pic and click the Following button to unfollow any account.

    Say a lot with a little

    When you see a Tweet you love, tap the heart — it lets the person who wrote it know you shared the love.

    Spread the word

    The fastest way to share someone else’s Tweet with your followers is with a Retweet. Tap the icon to send it instantly.

    Join the conversation

    Add your thoughts about any Tweet with a Reply. Find a topic you’re passionate about, and jump right in.

    Learn the latest

    Get instant insight into what people are talking about now.

    Get more of what you love

    Follow more accounts to get instant updates about topics you care about.

    Find what's happening

    See the latest conversations about any topic instantly.

    Never miss a Moment

    Catch up instantly on the best stories happening as they unfold.

    1. 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
    2. 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
    3. 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.

      1 reply 2 retweets 1 like
      Show this thread
    4. 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
    5. 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
    6. 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
    7. 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
    8. 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
    9. Timos Moraitis‏ @timos_m Jul 24
      Replying to @hugohanoi

      A currency hoarder 1) bears the opportunity costs of other investments & 2) helps sustain the value of the currency so that the society can keep a low time-preference. That's not "free" riding.

      1 reply 0 retweets 0 likes
    10. Timos Moraitis‏ @timos_m Jul 24
      Replying to @timos_m @hugohanoi

      Is a hoarder of google's stock free-riding google's good performance? It probably makes sense to think of holding BTC as holding shares of the global economy.

      1 reply 0 retweets 0 likes
      Hugo Nguyen‏ @hugohanoi Jul 24
      Replying to @timos_m

      Hugo Nguyen Retweeted Hugo Nguyen

      Of cos, I never said HOLDing provides no benefits. I described it at length here.https://twitter.com/hugohanoi/status/1021131693191618560 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      3/ In the early stage of Bitcoin, HODLing establishes a base level of price support, reduces volatility & the perceived risks in the Bitcoin market.
      Show this thread
      3:36 PM - 24 Jul 2018
      • 1 Like
      • Timos Moraitis
      2 replies 0 retweets 1 like
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jul 24
          Replying to @hugohanoi @timos_m

          The benefits however are not unconditional. It must work in tandem with other areas (production) to continue staying beneficial. Otherwise too much of it and it alone *can* (not always) devolve into free riding.

          1 reply 0 retweets 0 likes
        3. Hugo Nguyen‏ @hugohanoi Jul 24
          Replying to @hugohanoi @timos_m

          Can’t compare a currency to GOOG stock because when you park your capital in GOOG you are parking it a productive asset. Equity != money.

          1 reply 0 retweets 0 likes
        4. Timos Moraitis‏ @timos_m Jul 24
          Replying to @hugohanoi

          If you view the world economy as an enterprise, then you may see the analogy, in which money is equity of the global economy. That's why your example of profiting from GDP growth works. And that's why if you don't think GOOG owners are free-riders, you shouldn't think so for BTC.

          1 reply 0 retweets 0 likes
        5. Timos Moraitis‏ @timos_m Jul 24
          Replying to @timos_m @hugohanoi

          When you park your capital in BTC, someone else takes the other side of the trade and does something with it, contributing to the world economy. In this sense, after BTC is established as the world reserve currency, investing in BTC is investing in the world economy.

          1 reply 0 retweets 0 likes
        6. Hugo Nguyen‏ @hugohanoi Jul 24
          Replying to @timos_m

          Money is really not equity of the global economy though 😛 Money is not equity, period. When you park money in a non-productive asset, it is OUT of the system completely. The non-productive asset value can only rise if it piggies back on the success of productive assets.

          0 replies 0 retweets 0 likes
        7. End of conversation
        1. Timos Moraitis‏ @timos_m Jul 24
          Replying to @hugohanoi

          Above I am making the case that it is not only beneficial to btc in the early stage, it is also beneficial to society when it has already been established as a global reserve. Thus you cannot call holding free riding on society.

          0 replies 0 retweets 0 likes
          Thanks. Twitter will use this to make your timeline better. Undo
          Undo

      Loading seems to be taking a while.

      Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

        Promoted Tweet

        false

        • © 2018 Twitter
        • About
        • Help Center
        • Terms
        • Privacy policy
        • Cookies
        • Ads info