Profile picture
, 5 tweets, 2 min read
My Authors
Read all threads
1/ If central bankers stayed in their lanes and governments didn't weaponize currencies... there would be little need for Bitcoin.

yet, here we are...

“Complex systems are weakened, even killed, when deprived of stressors.”
— @nntaleb
2/ Bitcoin is optimized for survivability/durability.

Competing for the immense privilege of money production necessitates a defensive posture.

Relative to all other monetary technologies, Bitcoin is an extreme example of an antifragile system.
3/ In the short term... it's easy to assume optimizing for survivability holds bitcoin back.

"why don't we just add more op codes, increase block size, add Confidential transactions"

Tempting, but the risk to undermine bitcoin’s assumptions is too great.
4/ fragility scale

Extremely fragile = centralized planning (central banking, monocrop)

Moderately antifragile = minimal governance, mostly emergent (Ethereum, permaculture)

Extremely antifragile = emergent complex system, extreme decentralization, (bitcoin, old growth forest)
5/ Antifragile systems gain from chaos.

Bitcoin has unique properties, ie: censorship resistance.

Assuming chaos/uncertainty is increasing, bitcoin is poised to serve its purpose... be money when no other solutions suffice.

Chaos is up and to the right
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with Brandon Quittem

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @Bquittem see all

Profile picture
Brandon Quittem
@bquittem
1/ Considering writing an article on Bitcoin?

Here are some content ideas, please steal them, and add your own ideas below.
2/ Millennial's Guide to Bitcoin

*Get in their head. Speak in their language. Boomers borrowed against your future, too much student debt, can't buy land, this is your best chance to be wealthy, who cares about a shiny rock, buy bitcoin.
3/ Goldbug's Guide to Bitcoin

*Should probably be written by a goldbug, former bitcoin skeptic, recently converted. Should be "gold AND bitcoin."
Read 18 tweets
Profile picture
Brandon Quittem
@bquittem
1/ Bitcoin is the Antivirus that prevents the spread of our destructive financial hegemony. Can Bitcoin survive long enough to reach its full potential? Let’s explore Bitcoin’s survivability through the lens of fungi.

Part 3: Mushroom Medicine

medium.com/@BrandonQuitte…

Thread 👇
2/ Bitcoin potential: sound money & social scalability.

This drama will take decades. What if Bitcoin doesn’t survive long enough to reach it’s potential?

Satoshi learned from failed attempts at private money. Bitcoin’s genetic code was engineered for maximum survivability.
3/ We’ve seen a 70% decline in Honey Bees since 2005. Mainly due to viruses spread by Varroa Mites.

Without Bees, say goodbye to almonds, avocados, etc.

If we lose the bees, there are countless downstream effects: lost jobs, destroyed ecosystems, and reduced food security.
Read 25 tweets
Profile picture
Brandon Quittem
@bquittem
1/ A quick thread exploring Bitcoin’s survivability.

Any cryptocurrency that cannot (feasibly) survive a nation-state level attack is pointless. Simply delaying their inevitable demise.

Let’s go 👇
2/ Bitcoin is unregulatable.

No one person or entity in charge. Code is free speech. Each country has their own competing jurisdiction.
3/ Game theory protects Bitcoin from a global coordinated attack.

Nation states compete with each other. Unlikely to see top nations cooperate.

If the US bans BTC, China has incentive to adopt. Nations not benefiting from the current USD regime have incentive to adopt BTC.
Read 10 tweets

Related threads

Profile picture
O₿iWan
@ObiWanKenoBit
0/Bitcoin proposes a deep reworking of our economies framed by separation of money from state. Bitcoin rejects fiat, introduces a new paradigm radically realigning our relationship with money. This is why #bitcoin matters. Read on⤵️
1/Fiat is political money backed by the force of law and violence. It is created at will and makes up the walls of a global economic prison.
2/It has no inherent cost of production outside of the effort to protect its position once created. And from “0” it is able to extract rent and subjugate the public.

Ben Bernanke on “printing money.”

Read 17 tweets
Profile picture
O₿iWan
@ObiWanKenoBit
0/Bitcoin is better money. It does not rely on appropriated authority. Bitcoin is the sum of all our unique, individual actions working against a fiat fueled, credit crazed world. Why is this important? Read on ⤵️ #bitcoin
1/Fiat monies need little to no input from the public at large. They prohibit the public from participating in determining its issuance, value and utility. As a debt instrument, fiat is a socioeconomic liability that zeros out accrued value.
2/This passive/static relationship with money allows politicians and bankers to effortlessly issue money at will. They then excise enormous amounts of “rent” from these baseless monies. A domineering, entrenched class of fiat elites holds the public in thrall.
Read 15 tweets
Profile picture
Crypto Craig
@cryptocraig123
1/ Thread - No retail interest. Bitcoin sucker’s rally?

I have noticed some people suggesting that this $BTC rally is fake because retail investors are not actively participating, and as a result it will crash and burn hard.

#Bitcoin
2/ Here is a Google trends chart posted by @zerohedge. You can see clearly that even though the price is at the same level as it was during the beginning of the last frenzy, no one is searching about Bitcoin.
3/ Using the @gdeltproject API you can see that cable news coverage (including @BloombergTV and @CNBC) is also much lower than it was during the peak of the last cycle.
Read 11 tweets
Profile picture
🔨Robert Breedlove
@Breedlove22
1/62. As ambassadors of #Bitcoin, I believe we must speak the common tongue and avoid esoteric language so that our message can penetrate minds far and wide. Here, I will shed some light on the Bitcoin and cryptoasset universe in an exoteric nutshell. Let's begin...

Thread⬇️
2. When we look at the cryptoasset universe, there are two distinct hemispheres: 1) Bitcoin and 2) everything else, which are commonly known as Alternative Cryptoassets or Alts
3. Bitcoin is more akin to the internet itself, which is composed of an open-source protocol stack called the internet protocol suite (consisting of http, TCP/IP, etc.)
Read 63 tweets
Profile picture
Fernando Ulrich
@fernandoulrich
#Bitcoin and fractional reserve banking (FRB). Thread 👇

Ok, this is going to be a controversial one. I've avoided the topic for a long time, but since there are many important experts -- ppl that I truly admire -- discussing the subject, I can no longer ignore it.
1/ Since the @Bakkt announcement, the issue has gained steam, especially through the works of @CaitlinLong_ (who's a real champion of #Bitcoin and liberty btw) and her concerns on WallSt's financialization of crypto. B/c of that, FRB is now inserted frequently into debates.
2/ As a background for laymen, FRB is considered THE BIG CONTENTIOUS & UNRESOLVED DEBATE within adherents of the so-called Austrian School of Economics. Rothbardians tend to think it's fraudulent, inflationary and causes economic cycles. They are the proponents of 100% reserves.
Read 33 tweets
Profile picture
Kyle Torpey
@kyletorpey
Starting today's #Bitcoin news thread...

Remember you can find the newsletter, YouTube, and SoundCloud links to the Daily Bitcoin Recap at kyletorpey.com
US Treasury Secretary Warns Against Bitcoin Becoming the Next ‘Swiss Bank Account’

🤔Wonder if he knows that's the whole point.

bloomberg.com/news/articles/…
The Bitcoin Investment Trust will undergo a 91-for-1 split on Jan. 26. That’ll turn the 1.9 million shares currently outstanding into a whopping 174.4 million. It will cut the stock price from around $1,950, where it currently sits, to roughly $21. bloomberg.com/news/articles/…
Read 34 tweets

Trending hashtags

#crypto #bitcoin #maximalist #WaterIsLife #BuyBitcoin #disruptiveinnovation #SegWit #bh2019 #TeamFB #blockchain #cryptocurrency #Bitcoin #PoW #RealBitcoinDominanceIndex #ZuckBucks #disruption #Crypto #TA #Hayek #consensusinvest #Decentralisation #disruptive #Ethereum #BitcoinTwitter #Trust
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!