This is all true, and yet Bitcoin has grown massively over the last 12 years (as have other cryptos). And so instead of critics constantly pointing out what cryptocurrencies aren't doing, they should spend more thinking trying to answer why that they've seen so much growth.
Everyone knows I'm cynical on a lot of this stuff, but everyone should always be trying to update their views, and incorporate new information.
Gold plays almost no role in economic life. And yet it's existed in portfolios for a lot longer than 12 years. How come? It's not cause of jewelry.
Krugman was right about the internet and fax machines though. Haters back back off with this weak dunk
Show me on the chart where the internet caused a big productivity surge.

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More from @TheStalwart

20 May
THE NORMIES OF THE FINANCE WORLD ARE STARTING TO GET ETH-PILLED

For the blog, I wrote about how more and more mainstream types are being drawn into ETH specifically and not Bitcoin.

bloomberg.com/news/articles/…
Great quote here from self-described normie @BullandBaird, in the piece, about why he's become so intrigued by Ethereum lately bloomberg.com/news/articles/…
Read 4 tweets
20 May
NEW ODD LOTS:

@tracyalloway and I talked with @aaronlammer about Yield Farming and trading in the world of Ethereum, DeFi, and Uniswap bloomberg.com/news/articles/…
@tracyalloway @aaronlammer He's the perfect guest because @aaronlammer is a podcaster himself, and a great communicator. And he's in one sense totally immersed in it, and also in another sense still pretty normie, so he speaks both worlds really well. Great explanation of what he does.
And of course, you can find the podcast at all the usual places

iTunes: podcasts.apple.com/us/podcast/aar…

Spotify: open.spotify.com/episode/4ik9Z2…

Stitcher: stitcher.com/show/odd-lots/…

Etc.
Read 6 tweets
18 May
ODD LOTS TRANSCRIPT:

You can read our discussion with @flexport CEO @typesfast about the world's widening supply chain nightmare here.

This section right here is the single clearest answer yet on why shipping is still so screwed up:

bloomberg.com/news/articles/… ImageImage
@flexport @typesfast Also this is an incredible example of how antiquated the whole system is still. The Bill of Lading, which allows the recipient to take possession of the goods on the ship still needs to be flown around the world by airplane.

bloomberg.com/news/articles/… Image
Anyway, I really can't do it justice, there are so many insights from Ryan about how shipping works right now. Should really just read the entire thing. bloomberg.com/news/articles/…
Read 4 tweets
18 May
Ok, I'm starting to realize there's a lot of very useful things happening in crypto. For example:

-You can buy tokens.
-You can stake tokens for interest.
-You can lend fiat to token buyers.
-You can hold tokens.
-You can swap tokens.
-You can buy insurance on your tokens.
Some more useful things you can do in crypto:

-- You can borrow against your tokens
-- You can trustlessly let a third party buy tokens on your behalf
-- You can arbitrage token mispricings across different exchanges
-- You can frontrun other people's token arbitrage trades
More

- You can join a DAO to collectively invest tokens
Read 4 tweets
18 May
DAVID PORTNOY JUST... TWEETED IT OUT!

In today's @Markets newsletter, I wrote about how I've been talking about it for weeks, but by saying "if it is a Ponzi, get in on the ground floor" the Barstool guy just went and said it

Sub' to the newsletter here bloomberg.com/account/newsle…
@markets And as a reminder, here's what I wrote about back in April
@markets And just to be clear, not all decentralized exchange are pure nihilistic pump and dumps. Read our transcript with the founder of Uniswap here. bloomberg.com/news/articles/…
Read 5 tweets
17 May
HARD DRIVE MAKERS SOAR THANKS TO A NEW CRYPTO FROM THE CREATOR OF BITTORRENT

I wrote about how shares of Western Digital and Seagate are soaring, because people in Asia are buying up hard drives to mine Chia, the new crypto from @bramcohen bloomberg.com/news/articles/… $STX $WDC $CHIA
@bramcohen Unlike Bitcoin which uses Proof of Work, Chia's security (or mining) model uses something called Proof of Space and Time. And that model involves people accumulating hard drives.

Here's some math from @tomshardware tomshardware.com/how-to/how-to-…
@bramcohen @tomshardware Meanwhile, NVidia chips sold on StockX that are used to mine $ETH continue to set all-time highs stockx.com/nvidia-nvidia-…
Read 4 tweets

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