Gigi 🦢☯️ Profile picture
Author of https://t.co/2Ma89bnpqr | Working on https://t.co/M6GJXtoyW7 and @SwanBitcoin | Curating https://t.co/398HM1VqKW | Co-hosting @_einundzwanzig_ | Stacking religiously
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14 Jan
1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to be.

swanbitcoin.com/bitcoin-is-time
2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.
3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.
Read 13 tweets
13 Dec 20
Dear legislators:
* a wallet is a collection of private keys
* private keys are just information

Do you realize what outlawing information would entail?
Information can be represented in all kinds of ways. Do you want to make QR codes illegal? Flags? Art?
Do you really want to move into the territory of illegal numbers? Do you want to outlaw speech?
Read 5 tweets
14 Oct 20
"Bitcoin is protected by a wall of encrypted energy. The fact that there's a lot of energy involved is a good thing. It creates security to the network." -- @michael_saylor
Source: Swan Signal Live E33 with @michael_saylor and @DiMartinoBooth hosted by @CitizenBitcoin / @SwanBitcoin
If you're interested in exploring this idea, I wrote about it at length in 2018.

dergigi.com/2018/06/10/bit… Image
Read 4 tweets
8 Oct 20
1/ GigaChad, the thread.

Why Michael Saylor is - and probably will remain to be - the #Bitcoin GigaChad for quite a while.

👇 Image
2/ He went from zero to cyber hornets serving the goddess of wisdom faster than anyone else, realizing that there is only one game in town: #bitcoin.

3/ How did he do it? He dove down the rabbit hole, quickly and deeply. Bitcoiners know that all roads lead to Bitcoin maximalism. For some, it's a long and rocky path. For GigaChad it's a 5 minute ride in his rocket car.

Read 16 tweets
21 Sep 20
1/ Bitcoin still feels weird, clunky, and complicated at times. Because it is! But so was any kind of computer network, not too long ago.

Some thoughts on Bitcoin's UX.👇

swanbitcoin.com/on-bitcoins-ux/
2/ We often forget how far we have come, and how difficult the most basic stuff used to be. In Bitcoin, some of the basic stuff is still difficult.

Pete in 1991: "What is an IRQ?"
Peter in 2020: "What is an XPUB?"
3/ But also in Bitcoin we have come far: BIP32, BIP39, BIP44, BIP141 - all of them make Bitcoin easier to use. We take them for granted, but we shouldn't. A lot of thought and hard work went into these improvements, leading to better UX in the end.
Read 12 tweets
19 Sep 20
1/ Now that the Chad money is coming in, let's look at what moving to a bitcoin-denominated balance sheet might mean.

On inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in #Bitcoin

👇
2/ In essence, every economic actor needs to have an economic inflow to survive. This is true for individuals, companies, and even states.

A healthy actor has more inflow than outflow, resulting in a positive balance. Spending is necessary for survival or growth.
3/ Most economic actors sell goods and services to generate inflow. Sooner or later, what they earn is spent again on other goods and services. A payment is simply a moment in time where one is given what is due for goods or services.
Read 24 tweets
2 Jul 20
I recently finished The Price of Tomorrow by @jeffbooth. The book gives a good introduction and overview in regards to the two grand themes that are currently playing out: the rise of AI and the downfall of fiat money.

Quick thread in case you want to dive deeper.

👇
2/ In regards to AI and exponential progress, I highly recommend @waitbutwhy's lengthy two-part blog post from 2015. It does a great job of explaining what's going on and is quite thorough (if you can't be bothered to buy any of the books below).

waitbutwhy.com/2015/01/artifi…
3/ If you want to dig even deeper there is probably no better book than The Singularity Is Near by @raykurzweil - it's a bit dated and can seem outlandish at times, but the general concepts presented in the book are as relevant as ever.
Read 11 tweets
11 May 20
I'll be celebrating the halving by posting bitcoin memes in this thread.
I have so many gems you guys have no idea
Read 56 tweets
30 Oct 19
"Circularity" - A thread about Bitcoin, religion, mirrors, my rabbit hole journey, and where Bitcoin (and bitcoiners) might go in the next couple of years.

👇
1/ This is the image I had in my mind when I had what I can only describe as a religious experience. You might say I went down the deep end. I would say that I glimpsed behind the mirror.
2/ I drew it in various forms, so the details (e.g. how many outside circles there are) aren't that important. The main idea is important - at least to me.
Read 19 tweets
21 Oct 19
"Bitcoin is a religion."
People are starting to catch on to this idea. I'm not saying this is good or bad, I'm just observing.

I want to write about this in the future, but I feel like everything will happen faster than I can write about it. I'll use this thread to collect tweets and ideas.
Read 17 tweets
9 Jul 19
1/ Quick thread on passports, facial recognition, biometrics, and other digital shenanigans.

👇
2/ If you got a new passport in the last ~10 years it probably has an NFC chip in it. These are known as "Biometric Passports" en.wikipedia.org/wiki/Biometric…
3/ Flashback to 2006: "Nearly every country issuing this passport has a few security experts who are yelling at the top of their lungs and trying to shout out: 'This is not secure. This is not a good idea to use this technology'" news.bbc.co.uk/2/hi/programme…
Read 19 tweets
25 Jun 19
1/ Had a really fun, free-flowing conversation with @heavilyarmedc on the Bitcoin Echo Chamber pod. #BEC 22 on the paradigm shift we are living through right now.

Some notes below 👇

2/ Shout-out to everyone who is innovating at the edge. @LightningK0ala building cool ⚡️ stuff like satoshis.place & koalastud.io, @cryptograffiti innovating in the art space, ... Can't wait to see what this future paradigm will bring!
3/ As mentioned on the pod, I hope we will move away from an ad-based model and move towards a direct, support-based model. h/t @tippin_me, @tallyco_in, @vandrewattycpa of LibrePatron, and of course @BtcpayServer 🙏
Read 22 tweets
12 Jan 19
1/ I just published "Economic Teachings of Bitcoin", the second part in a three-part series on What I've Learned From Bitcoin.

medium.com/@dergigi/econo…
2/ Bitcoin taught me more about money and finance than all of my previous education combined. It encouraged me to look behind the curtain and face my financial ignorance. (h/t @aarontaycc @BitcoinDunny for not making me feel alone)
3/ I learned about inflation and the catastrophe of hyperinflation. To quote Hayek: "I do not think it is an exaggeration to say history is largely a history of inflation, and usually of inflations engineered by governments for the gain of governments."
Read 15 tweets
31 Dec 18
1/ Working on my next piece. Went full on "don't trust, verify" by calculating the projected bitcoin supply myself - here are some things my end-of-year drunken self found interesting:
2/ Bitcoin will catch up to the stock-to-flow ratio of gold after the next halving, some time in 2020. @saifedean pointed this out in The Bitcoin Standard iirc, but seeing it in my own calculations was cool.
3/ Bitcoin will be exponential "harder" than gold after that, being twice as hard after the next doubling. Exponentials are insane, as always. In the year 2050 (approx) Bitcoin will be 125x as hard as gold. After that it will get infinitely hard quickly 🍆
Read 8 tweets
21 Dec 18
1/ I just published "Philosophical Teachings of Bitcoin", the first part in a three-part series on What I've Learned From Bitcoin.

medium.com/@dergigi/philo…
2/ h/t to @arjunblj for unknowingly forcing me to write this. I wasn't able to provide a short answer to his original tweet
3/ Shoutout to @MartyBent and @matt_odell from @TFTC21 ☮️❤️ -- my philosophical views on bitcoin were substantially shaped by you guys
Read 7 tweets