Share this page!

Maybe Scrolly?
Santiago Velez Profile picture
Twitter logo
3 Jun, 5 tweets, 5 min read
Excellent paper by Giovanni Compiani & Matteo Benetoon of UC Berkley on the role of belief in the price action of digital assets over demographics (early vs. late buyers & age).
cowles.yale.edu/3a/bcwp-invest…
Creating the model and sorting out some relative effects on a the data set.
The model:
Late buyers command a "belief" premium that prices will continue to rise and double down.
Narrative on the environmental impacts of PoW on prices leads to a perceived winner (reallocation) to non-PoW digital assets. This is expected.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Santiago Velez

Santiago Velez 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!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Santiag78758327

Santiago Velez Profile picture
3 Jun
This should make you angry if you use PoW chains that utilize concentrated mining pools. Shows via data that there is likely collusion in processing mempool fees are processed & overall resources optimized for the miners. Why anyone would build a financial system on top of this?
Strategic Capacity Management is the name of the game. Keep your resource at a premium at all times, even if means not delivering on the end user. Wow! Talk about being held hostage when blocks are left underutilized even during congested periods.
This is necessarily egregious.
Read 8 tweets
Santiago Velez Profile picture
3 Jun
Tokenized shared platforms (ICOs) w network effects are superior at delivering value to participants than a simple competition between centralized monopolists. Rent seeking can be overcome more efficiently by tokenomics & shared prosperity than competition.
Entrepreneurs essentially become issuing mini-central banks in their micro-economy that represent the platform network but with predetermined issuance policy that participants can transparently view.
The key is DLT allowing for the amelioration of counterparty risk, sharing a common resource, & transparency that reduces the power of platform monopolists (e.g. Uber model).
Read 8 tweets
Santiago Velez Profile picture
3 Jun
Wash trading on low ranked unregulated exchanges is highly incentived by rank improvement and attraction of traders that place a premium on liquidity. WT comprises a significant portion of the industry activity, dominates.

Excellent paper by Lin William Cong and team at Cornell.
XRP is the favorite to spook wash trading, but the arbitrage bots collapse the effect in less than 1 week. Likely due to low final settlement chain fees & large investor base.
Application of Benford's Law can catch wash trading exchanges:
Read 7 tweets
Santiago Velez Profile picture
13 Apr
The Arbitrary Nature of Economic Policy Preferences
1/ The vast majority of FinTwit / CrypTwit is consumed by the arbitrary application of preferred monetary policies. Constant tribalism between Keynesians/Austrians, De-/Inflationist, Centralists/Decentralists, Traders/Investors.
2/ What are economic principles & "schools of thought" if not arbitrary ideological preferences as to how we as human beings relate to one another? Money & Value are distillations of our collective efforts & obligations to one another across space & time, humans serving humans.
3/ Our collective sense of organization via incentives distill down to the constituent physical elements that constitute our world, matter & energy. Consumption of matter & energy are abstracted into currencies, stores of value, assets, interest rates (time).
Read 18 tweets
Santiago Velez Profile picture
12 Mar
Non-Fungible Tokens (NFTs) as Peak Property Rights

1/ Distributed Ledger Technology (DLT) has afforded humans the idea of claims on digital abstractions as property rights on the internet. I can purchase ETH or XRP or any other digital asset & the double spend is protected.
2/ What we are really talking about is the careful accounting of shared states in distributed databases so that consensus is arrived at & disagreements are precluded. This naturally lends itself to the concept of property rights as those are conflict resolution concepts.
3/ Global society has been on a secular trajectory with the advent of technology & the expansion of private property rights towards the pinnacle of those two concepts (peak in the sense of ultimate expression not moral judgement of good/bad). Started with currency, an abstraction
Read 14 tweets
Santiago Velez Profile picture
23 Dec 20
Don't normally connect dots, but hey, it's almost Christmas, let's have fun...
Mr. Jay Clayton was once a partner at Sullivan & Cromwell LLP, where he was a member of the firm’s Management Committee and co-head of the firm’s corporate practice. OK

sec.gov/biography/jay-…
Sullivan & Cromwell advises some of the largest firms and investment banks in the world, one of which is Goldman Sachs. The firm happens to be very familiar with global banking infrastructure including cross border commodity swaps & even SWIFT messaging:
sullcrom.com/publication_de…
At the same time Goldman Sachs advances a cross border payments initiative in early of 2020, hmmm...

insidesap.com.au/goldman-sachs-….
Read 15 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

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

Become a Premium Member ($3/month or $30/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!

Follow Us on Twitter!

Like this author's thread?

Get emails when @Santiag78758327 has new unrolls!

Check out other threads from @Santiag78758327!

Read all threads by @Santiag78758327

:(