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Shivam Sharma Profile picture
@theweb3sharma
Jan 22, 2023 • 7 tweets • 3 min read • Read on X
"Bitcoin is a system based on rules not rulers"

Recently, RBI Governor called for a ban on crypto

But, the promise of Crypto and Bitcoin is stronger than ever 👇👇

#bitcoin #crypto #RBI #money #commodity #banks #gold
cryptobeans.beehiiv.com
Let's look at the The History of Money to understand more.

From Barter to Fiat Currency to Cryptocurrency

1/ It all started with the need for trade....
🔸In ancient times, people used the barter system to trade goods and services.

🔸This means that they would directly exchange one item for another without using a medium of exchange, such as money.

2/ But barter is not scalable....
🔸So the economy starts requiring some standard unit of account, or money.

🔸People began to use items that were widely accepted, like shells or beads, as a medium of exchange.

🔸These items were known as commodity money. Think Salt or Shells

3/ Use of GOLD
🔸As civilizations developed, other forms of commodity money like metal coins, were created.

🔸People started to trust these coins as they knew the value of the metal they were made of.

🔸This is how gold became the first form of standardized money.

4/ The GOLD STANDARD
🔸Well, as trade expanded across borders, it was difficult to transport large amounts of gold.

🔸To solve this problem, governments began to issue paper money that could be exchanged for gold.

🔸This system was known as the gold standard.

5/ But banks were smart....
6/ They led to a system known as FIAT currency....

7/ So, What is Fiat Currency Really Worth?

8/ And Finally: The arrival of Bitcoin

**I cover the whole topic in my latest weekly newsletter**
cryptobeans.beehiiv.com

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More from @theweb3sharma

Shivam Sharma Profile picture
May 22, 2023
RBI will withdraw Rs 2000 notes from circulation

This is a master stroke as per India is considered

However, this is also a step towards control and manipulation of money by state

Here's why?
#RBI #currency #india #bitcoin Image
I understand the reasons as to why the government would want to do this but,

I had a POV that I wanted to share on what it means.

This is something that fascinated me about Bitcoin in the first place.
1}
Ever since I began studying Bitcoin and what it stands for, the thing that has been most fascinating to me is:

"The removal of third party trust source for transfer of value through currencies"
Read 14 tweets
Shivam Sharma Profile picture
May 10, 2023
Bitcoin and Ethereum differ fundamentally

The way the networks are secured differs

Its POW vs POS

Let's analyze this through a corporate analogy

#pow #btc #pos #eth Image
PoW Issuance

Issuance can be thought of as similar to a company paying their employees in stock-based compensation (SBC).

This does two things:
1. Dilutes all shareholders
Means each shareholder's percentage of ownership in the company is reduced, resulting in a decrease in the value of their equity stake

2.Lowers profitability
It represents a transfer of value from existing shareholders to employees.
Read 14 tweets
Shivam Sharma Profile picture
Apr 28, 2023
Why do governments default on debt!!

News channels won't talk about it at all

But,
It's simple to understand

Let's dive in on the secret of how governments work 👇🧵
#debt #currency #assets Image
A government runs ultimately on the same simple accounting rules as we all have learnt.

The two basic ingredients:

1. Revenue (money coming in)
2. Expenses (money going out)
There are two scenarios:

When revenue exceeds expenses, an individual has “savings” — a government has a “surplus.”

When expenses exceed revenue, an individual has a problem — a government has a “deficit.” Image
Read 13 tweets
Shivam Sharma Profile picture
Apr 17, 2023
Do you know a guy named Laszlo Hanyecz spent 10,000 BTC for just 2 pizzas 🤯

That's over $300 million for dinner

A look at The History of Bitcoin: From White Paper to Worldwide Phenomenon 👇🧵

#bitcoin #crypto #history Image
In 2008, a mysterious person or group of people using the pseudonym "Satoshi Nakamoto" released a paper titled:

"Bitcoin: A Peer-to-Peer Electronic Cash System."

This paper proposed a new type of digital currency....
The currency would use cryptography to allow secure, decentralized transactions without the need for a central authority.

Bitcoin which started as a little-known experiment has now gone to a worldwide phenomenon, with a market cap of over $500 billion
Read 17 tweets
Shivam Sharma Profile picture
Mar 15, 2023
@OpenAI demoed GPT4 yesterday,

What it can do is mind-boggling🤯

GPT-4 passes basically every exam.
GPT-4 does drug discovery.
GPT-4 can turn your napkin sketch into a web app.

and much more.

Let's dive in🧵👇

#gpt4 #technology #openai #future
1/
 Gone are the days when you had to learn code to create even the basic games. GPT-4 can create games.
Recreate a Snake game that runs in your browser using Chat GPT-4 and @Replit

2/
 I can be a coder too now.
GPT-4 can turn your napkin sketch into a web app, instantly. It's scary how easy this was
Read 12 tweets
Shivam Sharma Profile picture
Mar 14, 2023
It's a sunny day and you're standing in a long line outside your bank, waiting to withdraw your hard-earned money.

The reason? Everyone else is doing the same thing, fueled by panic and fear.

This, my friends, is what's known as a bank run🧵

#svbbank #bitcoin #finance
But what if I told you that you can avoid being a part of this chaotic scene?

That's right, there are ways to protect yourself from the madness of a bank run.
One way is to diversify your assets. Don't put all your eggs in one basket, as the saying goes.

Spread out your investments across different types of assets like stocks, bonds, real estate, and yes, even cryptocurrencies.
Read 6 tweets

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