@Breedlove22's Threads
0/22. A thread summarizing my recently published essay “An Open Letter to Ray Dalio re: Bitcoin” which explains the nature of money, markets, and Bitcoin through the framework of @RayDalio’s Principles.
medium.com/@breedlove22/a…
Let's begin⏬
medium.com/@breedlove22/a…
Let's begin⏬
1/22. At the pinnacle of Ray’s worldview is the cultural paradigm he originated at Bridgewater — the idea meritocracy; its formulaic elements are Radical Truth + Radical Transparency + Believability-Weighted Decision Making.
2/22. An idea meritocracy is essentially a free market for ideas; an open culture for the proliferation and combination of the most meritorious ideas, free from man-made impediments such as ego, policy, and hierarchy.
Ray gets an F on his Bitcoin views:
Ray gets an F on his Bitcoin views:
1/62. As ambassadors of #Bitcoin, I believe we must speak the common tongue and avoid esoteric language so that our message can penetrate minds far and wide. Here, I will shed some light on the Bitcoin and cryptoasset universe in an exoteric nutshell. Let's begin...
Thread⬇️
Thread⬇️
2. When we look at the cryptoasset universe, there are two distinct hemispheres: 1) Bitcoin and 2) everything else, which are commonly known as Alternative Cryptoassets or Alts
3. Bitcoin is more akin to the internet itself, which is composed of an open-source protocol stack called the internet protocol suite (consisting of http, TCP/IP, etc.)
1/22. In its latest #Bitcoin market cycle, which peaked in December 2017, many new entrants have been pummeled by its falling price. Many are asking: will it ever recover? Let's take a look at #Bitcoin in some varied contexts and explore...
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Thread⬇️
2. So, #Bitcoin's price "collapsed" from ~$20K. This market cycle is actually ordinary. Hardwired to be perpetually caught up in lately, us humans are all subject to becoming caught up in both FOMO and FUD. We lived through a mania, and we are now living through a winter:
3. Speaking of winter, did you know that Amazon once crashed 94% beginning in November 1999 (from $85 to $5) and has grown by 32,697% since (to $1,640)?
1/15 A thread in favor of monetary maximalism (reasons why people converge on one money) and #Bitcoin:
2/15 To maximize their exchange optionality across time, people rationally seek to store value created by their work in the monetary medium most resistant to dilution. Money such as this is commonly called hard or sound money.
3/15 Therefore, the hardest money available, distinguished by the highest stock-to-flow ratio, is naturally selected for in the marketplace as it provides users enduring peace of mind in respect to economic matters.
In the ancient story of money a new chapter is being written… here we will explore the mysterious forces of Money, Bitcoin and Time.
This thread is breakdown of my recently published 3-part essay titled 'Money, Bitcoin and Time':
medium.com/@breedlove22/m…
Let’s go 👇🏽
This thread is breakdown of my recently published 3-part essay titled 'Money, Bitcoin and Time':
medium.com/@breedlove22/m…
Let’s go 👇🏽
1. THE SIMPLE TRUTH ABOUT MONEY: Money is the most successful story ever told by humans. It is a reflexive narrative: meaning it has value only because everyone believes it, and everyone believes it because it has value. Money is a story that continues to be written…
2. When humans began to exchange with one another, they intuitively discovered the division of labor which allows people to focus on their relative advantages and concentrate on their chosen craft. This led to the invention of better tools.
What is Money? What is Bitcoin? and what the heck is Time? This tweetstorm is breakdown of my recently published essay 'Money, Bitcoin and Time' - full version available here: parallaxdigital.io/blog
Sections covered: Human Exchange, Story of Money and Hard Money
Here we go👇🏽
Sections covered: Human Exchange, Story of Money and Hard Money
Here we go👇🏽
THE SIMPLE TRUTH ABOUT MONEY: Money is the most successful story ever told by humans. It is a reflexive narrative: meaning it has value only because everyone believes it, and everyone believes it because it has value. Money is a story that continues to be written…
When humans began to exchange with one another, they intuitively discovered the division of labor which allows people to focus on their relative advantages and concentrate on their chosen craft.
