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More from @dergigi

Gigi ⚡🧡

@dergigi

Nov 25

The internet never had a native currency, so it had to use a surrogate: attention.

Due to the lack of a digital native money, we had to use credit (IOUs) to send money electronically. Fraud & chargebacks made micropayments impossible.

Two models evolved:

1) "You are the product"
...which uses attention & user data as a currency

2) "Subscription hell"
...which uses credit IOUs, which requires full control & KYC, and doesn't allow for micropayments (it's always ~$5 or more, nothing else would be profitable)

Read 14 tweets

Gigi ⚡🧡

@dergigi

Nov 23

https://twitter.com/FreedomMaxima/status/1595537483646771203

Someone made a table comparing the percentage drawdowns of all cycles, showing that they declined over time (which is also visible in this graph).

2012: -95%
2015: ~85%
2019: ~80%
2022: -75%

Anyone got a link to the table or exact data?

https://twitter.com/FreedomMaxima/status/1595537483646771203

Apologies for crowd-sourcing all this, but I have to get this done in the next ~15 minutes and I don't trust myself looking it all up as I'm way too sleep-deprived 😅

Nevermind, found it

https://twitter.com/OnChainMacro/status/1594660821854224384?s=20&t=gosajK8eNinBebC3k1FqNg

Read 4 tweets

Gigi ⚡🧡

@dergigi

Nov 23

https://twitter.com/nvk/status/1595104193433460739

Looking forward to this!

https://twitter.com/nvk/status/1595104193433460739

I hope to publish some long-form thoughts about it at all soon.

For now, there's this:

dergigi.com/2021/12/30/the…

There is also a community-effort around hashing out the ideas and technologies of #value4value, see value4value.info

Feel free to create PRs, or join the chat and chime in!

Read 4 tweets

Gigi ⚡🧡

@dergigi

Nov 23

Humbled by the generosity of the #Bitcoin community. Thank you for all the #V4V, not only in terms of sats, but also in terms of remixes and translations.

Time, talent, and treasure. 🙏🧡

My most recent piece was already translated multiple times, links below:

@DerGeier21

First German translation:

h/t @DerGeier21 & @w4ttSoLdAt

https://twitter.com/aprycotmedia/status/1595092242359779328

Read 11 tweets

Gigi ⚡🧡

@dergigi

Nov 20

Dear Crypto & Fiat Bros,
you're probably not going to believe this, but I was you once.

I thought that #Bitcoin was stupid.
I thought that "crypto" was the future.
I was wrong.

Here is what changed my mind:

I didn't understand what Bitcoin was or why it was important, because I didn't understand what money was or why it was important.

That's also why I was easily fooled by shitcoins.

I got rekt, and I learned.

I learned that money printing is unproductive and immoral. I learned that #Bitcoin was different. Independent from the centralized exchanges that are doomed to fail.

Mt. Gox was my first lesson.