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Anil

@anilsaidso

25 Mar

Innovation is what drives societies forward.

People create new ways of doing things. This alters incentives and shifts behaviours. Creative destruction ensues and opportunity creates new players, rules & systems.

Restrict innovation and a jurisdiction will fall behind.

There are three key markers of a disruptive innovation:
1. Born from a catalyst
2. Perceived as a toy/novelty
3. FUD from incumbents/concerned citizens

Let’s look at how Bitcoin has tracked these over time.

Satoshi’s message in the genesis block points us to the GFC and subsequent bailout of financial institutions.

The architects of the crisis would be protected from the full consequences of their actions.

Read 28 tweets

Anil

@anilsaidso

6 Mar

@JackMallers

“Lightning is a new set of rules. A new protocol on top of the Bitcoin network...giving this natively-digital bearer-instrument cash finality.

The first killer app of the Lightning Network is clear as day- it's making borderless payments free and instant.”
@JackMallers

@ln_strike

“The existing monetary networks- you’ve got ACH + Visa, ACH + Square, ACH + PayPal. Bifurcated networks that exist independent from each other.

What @ln_strike is trying to achieve is ACH + the Bitcoin network- a global open monetary network.”

“We’ve set up lightning + Bitcoin infrastructure all over the world. There’s strike infrastructure that represents Central America, Ireland, UK, Australia, Canada. We’ve got all these nodes in this monetary network set up, acting on behalf of users in that geographical location.”

Read 6 tweets

Anil

@anilsaidso

22 Feb

@michael_saylor

Few have grasped the magnitude and inevitability of Bitcoin in such a brief period of time.

Fewer still have been able to explain the current monetary environment to a wide audience with such ease and clarity.

@michael_saylor is the Richard Feynman of Bitcoin.

@RealVision

Speaking to @RealVision, Saylor laid out his concerns with the current rate of monetary expansion:

"I came to the horrifying conclusion that I’m sitting on a $500M ice cube that’s melting. It’s melting at 6% in a good year. Then you realize this year it’s melting at 25%."

🧊

In an interview with @KeithMcCullogh, Saylor cautions against financial models that fail to account for the adoption of new networks:

“What happens if 10 billionaires decide to buy $1B of bitcoin each and announce it…all of your models are destroyed, completely devastated.“

📈

Read 8 tweets

Anil

@anilsaidso

15 Feb

1/ “When a nation's money is no longer a source of security, and when inflation has become the concern of an entire people, it is natural to turn to…other societies who have already undergone this most tragic and upsetting of human experiences.”

👇

2/ “The agony of inflation, however prolonged, is perhaps somewhat similar to acute pain — totally absorbing, demanding complete attention while it lasts; forgotten or ignorable when it has gone..”

3/ “In the eight years since 1913, the price of rye bread had risen by 13 times; of beef by 17. Sugar, milk, pork and even potatoes had risen between 23 and 28 times; butter had gone up by 33 times.

These were only the official prices — real prices were often a third higher”

Read 25 tweets

Anil

@anilsaidso

26 Jan

'The Lessons of History' by Will & Ariel Durant is a masterclass in the predictability of human nature.

It teaches us what changes over time and what remains constant. Use it to guide your thinking.

“In every age men have been dishonest and governments have been corrupt.”

🧵

1/ “Generations of men establish a growing mastery over the earth, but they are destined to become fossils in its soil.

Human history is a brief spot in space, and its first lesson is modesty.”

2/ “life is competition. peaceful when food abounds, violent when the mouths outrun the food.

We are acquisitive, greedy, and pugnacious because our blood remembers millenniums through which our forebears had to chase and fight and kill in order to survive.”

Read 55 tweets

Anil

@anilsaidso

29 Dec 20

@parkeralewis

To appreciate Bitcoin's potential you must first understand why societies converge on a single form of money.

No essay argues this more convincingly than ‘Bitcoin Obsoletes All Other Money’ by @parkeralewis

"All forms of money compete with each other for every exchange."

🧵👇

“Think of each individual as a potential trading partner.

As individuals adopt the common medium as a standard of value, all existing participants in the monetary network gain new trading partners...

There is mutual benefit, and ultimately the range of choice expands.”

“Money represents the collective recognition that everyone benefits from the existence of a common language to communicate individual preferences. It aggregates and measures the preferences of all individuals within an economy, at any point in time..”

Read 16 tweets

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