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.
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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 @BMBernsteinThe 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 likesShow this thread -
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 likeShow this thread -
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.
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9/ The more you hoard & the less you contribute back *relative to the amount you hoard*, the more of a free rider you become.
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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.
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Hugo Nguyen Retweeted Hugo Nguyen
11/ Money != Equityhttps://twitter.com/hugohanoi/status/1021918438678122496 …
Hugo Nguyen added,
Hugo Nguyen @hugohanoiMoney 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 likesShow this thread -
Hugo Nguyen Retweeted Hugo Nguyen
12/ Sliding scale not binaryhttps://twitter.com/hugohanoi/status/1021921656913068032 …
Hugo Nguyen added,
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Does this make any sense at all or am I crazy?
@real_vijay@nic__carter@TuurDemeester@BMBernstein2 replies 0 retweets 0 likesShow this thread -
Replying to @hugohanoi @real_vijay and
Are people who hodl from $20k down to $8k free-riding or free-falling? What is the timeframe of a free-ride?
1 reply 0 retweets 0 likes
i/ peaked adoption & a mature Bitcoin market, not now ii/ ignoring short-term volatility
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