The focus of your attention is like a beam of light.
You get to control the DIRECTION, SCOPE and INTENSITY.
You process what is illuminated and ignore what is left in the dark.
Choose accordingly.
The Window of Tolerance 🪟
"What really defines our optimal moments is that they are ones in which we are able to feel stable... to take things in our stride and to be neither weary nor fearful, bored nor manic."
- @TheSchoolOfLife
"If you want to improve your odds of success in life and business, then define the perimeter.. and operate inside. Over time, work to expand that circle but never fool yourself about where it stands today."
"In looking for someone to hire, you look for three qualities: integrity, intelligence and energy. But the most important is integrity, because if they don't have that, the other two qualities...are going to kill you."
-Warren Buffett
Play Long-term Games with Long-term People 🌱-> 🌲
'In a long-term game, it’s positive sum. We’re all baking the pie together. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest.'
"This process creates a feedback loop so that you are continuously adapting and learning from your (or others) experiences."
The Deflationary Force of Innovation💡
"A minute of work in 1880 on the average wage could earn you four minutes of light from a kerosene lamp; a minute of work in 1950 could earn you more than seven hours of light from an incandescent bulb.."
“We don’t win bets by being in love with our own ideas. We win bets by relentlessly striving to calibrate our beliefs and predictions about the future to more accurately represent the world.”
“the result of the inability of human beings to foresee future market conditions correctly.
Such errors are most frequently compounded by distorted price signals...often caused by government intervention or inflation misleading market participants.”
Smart people sometimes have poor ideas. 'Dumb' people will sometimes offer up great ideas.
If you need all of your values + beliefs to align perfectly with someone in order to consider their idea, you’ll miss 𝘢𝘭𝘭 opportunities in life.
Kind vs. Wicked Learning Environments ⛳️
[by Robin Hogarth]
Kind: patterns recur, domain-constrained, rigid rules, frequent & accurate feedback, all the information is available
Wicked: information may be hidden, feedback may be delayed, infrequent, nonexistent, or inaccurate
“The ability to change your mind is a superpower.
The rate at which you learn and progress in the world depends on how willing you are to weigh the merit of new ideas, even if you don’t instinctively like them.”
“One of the things that life teaches you is that ‘good enough’ is almost always good enough. You learn that you can get satisfaction out of perfectly wonderful, but not perfect, outcomes.” @BarrySch
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Satoshi Nakamoto cites eight references in the Bitcoin white paper that influenced the Bitcoin protocol's design.
This thread explores each one and its significance.
For context, the Bitcoin protocol combines several existing tools, technologies, and procedures in a novel way.
1/ ‘b-money’ by Wei Dai is the very first reference listed:
“efficient cooperation requires a medium of exchange (money) and a way to enforce contracts. I describe a protocol by which these services can be provided.”
Dai would also be one of the first people Nakamoto contacted regarding the proposal of Bitcoin.
As #Bitcoin adoption continues its relentless march, so too does the onslaught of misconceptions, red herrings, and illogical arguments. The result of ignorance, malice, or fear.
A thread of the most common regurgitated fallacies:
"Bitcoin is a radical break from the past. Understanding the way traditional money works doesn’t help you understand bitcoin.
If anything, it hinders it.
The people who understand bitcoin the least are monetary economists. They cannot wrap their heads around it."
—Andreas M. Antonopoulos
There appears to be an endless list of critiques and criticisms levied against bitcoin. But they generally fall into three distinct buckets.