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13 Oct, 14 tweets, 5 min read
A Crash Course on Crypto Economics in 1 Hour

This twitter course will help you get ahead of 99.9% of population—including all financial "experts" on TV— in understanding crypto, the biggest revolution in the history of finance

Bonus lessons at end on how to think better

👇
[Lesson 1] Crypto: disrupting status quo in wealth distribution

Economic inequality is on the rise around the world. But the growth of crypto economy will be a major reset to wealth distribution.
[Lesson 2] Layer-1 blockchain staking: the base layer of a new global financial paradigm

As L1 chains integrate with real economy, staking yields will replace government bonds as the benchmark assets of global financial system. Are you ready for it?
[Lesson 3] DeFi: real financial innovation or speculative gold rush?

An investigation of DeFi’s competitive advantages— what’s real and what’s not.
[Lesson 4] DeFi: where do those yields come from?

How sustainable DeFi yields are and where they sit in the bigger picture of financial system.
[Lesson 5] NFT: the democratization of asset creation

NFTs will thrive because they help solve the global asset shortage problem in an ingenious way— through mass participation in asset creation.
[Lesson 6] NFT: what makes tokenized assets better than physical ones

A conversation to help you think about what an asset actually is and why NFTs will out-compete physical assets for years to come.
[Lesson 7] NFT case study: how a new asset gets its value

This controversial experiment got me so much hate & ridicule from people unwilling to face the truth about what an asset actually is.

Always keep an open mind and think for yourself.
[Lesson 8] Play to earn: the status of crypto gaming

The metaverse promises new economic models for humanity. But the current ground reality may be more somber.

Here’s a look at the economic model of a popular play-to-earn pioneer: Axie Infinity.
[Lesson 9] Digitized fiat: the impact of a digital USD

If you think the adoption of crypto will spell the end of fiat money, think again.

Let's look at why digitization is bullish for USD but not so much for most other fiat currencies.
[Lesson 10] Beyond bitcoin: what is sound money

The religion of BTC maximalism is a result of monetary policy largesses. But it doesn’t mean the former is the right cure of the latter.

What're the features of a sound money? Can crypto help achieve them?
[Bonus lesson 1] How to become an original thinker

Learning to think for yourself is one of the most important skills you can have as an investor. And it’ll benefit every area of your life for as long as you live.

Here’s a framework on how.
[Bonus lesson 2] How to have better judgements

Reality is complex and human judgments are always flawed.

Still, if you strive to pay attention to the complexity around you, you’ll be way ahead of the mass.
Like this? Don’t forget to

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• follow me for more ideas to help you become smarter, richer, freer 👉 @realnatashache

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More from @RealNatashaChe

Tascha Profile picture
9 Oct
With regulations coming, some say DeFi will lose its edge.

They’re wrong.

“No regulation” is not the winning feature of DeFi. Neither is decentralization. Take those away and DeFi is still 100x better than TradFi.

Here's a look at DeFi’s true competitive advantages 👇
First off, why can DeFi offer higher yields than banks?

Obviously some yields are more sustainable than others. I wrote an article a while ago looking at different types of yields.

But the reality is in the short term, the #1 reason of high yields is lots of money flowing into crypto to chase returns.
Read 45 tweets
Tascha Profile picture
9 Oct
To those that worry robots will take all jobs, chill out.

Even if there's only 1 type of job left for humans to do and all else are automated, earnings from that 1 type will grow to infinite.
For example, if teaching yoga is the only type of human job left, yoga teachers will end up making say, $1 million a year or something crazy.
The reason is if productivity in all sectors of economy go up b/c of automation except in one sector, that sector's price will go up so much that it captures all the value accrual in economy, as long as that sector cannot be replaced.
Read 5 tweets
Tascha Profile picture
1 Oct
Crypto is a systemic shock that’ll make society more equal.

Rising inequality is an inevitable feature of capitalism. But like all systemic shocks through history, the rise of crypto’ll help reset wealth distribution.

Here’s why & what it means for your own wealth strategy 👇
Wealth inequality is at the highest in US history. It causes social upheaval & is bad for economy (weak purchasing power of middle class = no demand to drive growth).
People say technology change, globalization, and lack of skill training are reasons for this rising inequality.

But actually even without any of those, increasing wealth concentration is *inevitable* in any capitalistic society.
Read 48 tweets
Tascha Profile picture
22 Sep
The 1st time I used deFi, it felt like I witnessed something so huge that my brain couldn't process.

I had to lie down on the couch for a few hrs to let the adrenaline pass.

That's the magical moment I always refer back to whenever market sells off.

Price is down. It sucks. But ultimately I'm in this space because crypto is one of the great experiments in human history and I don't want to miss a second of it.

It may sound unrelated, but last time I felt a magical moment like that was in 2001 when China joined WTO.
I was in school and went to a party at a professor's where we gathered to watch the WTO ceremony on TV.

I remember biking back to dorm after midnight in freezing wind of Beijing winter, yet didn't feel cold at all cuz I was running on the high of having just witnessed history.
Read 11 tweets
Tascha Profile picture
21 Sep
Will Chinese government bail out Evergrande?

They shouldn't.

Here's why.
Housing price needs to come down.

China's been wanting to switch to domestic consumption led growth for many yrs. So far it hasn't happened (much).

How come?

The average Joe doesn't have enough money.
Housing, the biggest spending item, is less & less affordable as price ballooned, esp the last 5 yrs.

If you can't even afford shelter, there's def no extra purchasing power to buy other stuff.
Read 17 tweets
Tascha Profile picture
17 Sep
If countries are stocks, which ones should you long & which to short?

I used machine learning to grade the industrial health of 190 countries over 30 years. Here’re results on China, US, India & more.

See which countries I’m bullish & bearish about for the next decade 👇
First, a word on how this is done.

My coauthor (Xuege Zhang of Carnegie Mellon) & I used ML algorithm to figure out which products each country should export, given the country’s unique combo of traits. (full paper linked at the end if you’re curious).
We then check if a country is indeed exporting what it should. Each country gets a “health score” of their export portfolio every year. It measures the similarity btw actual exports and algorithm’s recommendations:

higher score = healthier economy.
Read 37 tweets

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