What is “Value”?
It continues to amaze me that people talk about money and value as if there is some magical thing out there that REALLY DOES HAVE VALUE. There isn’t, unless it has a use and then we get into the problem of a monopoly competition. And when there is…
In the Beginning
I was running technology for Credit and Rates trading at MerrillLynch in January 2009 when BankOfAmerica completed its takeover. This was arranged in the fall of 2008 a day before Lehman Brothers declared bankruptcy and as Merrill’s stock was going into free-fall. (For those new to investment…
I know it may seem lazy or worse, but Palmer states very precisely and clearly what the problem with crypto and decentralization is.
Palmer’s words follow:
I am often asked if I will “return to cryptocurrency” or begin regularly sharing my thoughts on the topic again. …
I am quoting what Jackson Palmer (creator of Dogecoin) said because it is the best and most concise observation of crypto and “decentralization” that has come along. And it deserves the widest of all possible audiences:
When you see a picture like this, it’s hard to say whether to laugh or be stunned at how over-the-top the silliness, foolishness or just plain delusion exists in the blockchain/crypto/decentralization community.
Whatever else one might say about the chart above, it has to be one of the best illustrations…
We in America, the land of self-reinvention, are long acquainted with the revolving doors between our government and its regulatory/policy remits and the “private” sector. I put “private” in quotes, since there are whole executive suites and partnerships that look like former cabinets or senate or house committees. All-to-often we…
I have to say up front that I have not written this. Instead, it is another writer here on Medium you should be reading: Robert Woodhouse: Robert Woodhouse
He has found and put the proverbial nail in a core argument/presumed virtue for BTC and Crypto. I won’t preview it here for you, instead I offer the link:
Please read it and clap and share. I would call it very significant and will soon start to reach out beyond the readership here.
This is brilliant. There are many downsides to Crypto/BTC but most are either hard for non-technical or non-economic-fluent people to understand. And, for those who are benefiting from it, the other moral downside --the undermining of western liberal democracy-- is something people can relativize if they believe are going to be rich.
But most of all, this completely undermines the Libertarian/Austrian-Econ "moral outrage" directed at "inflation".
Absolutely brilliant. I will be borrowing... from your insight.
An excellent commentary. I was, however, disappointed with the swerve into a plug for Hedera. Hedera does mitigate some of the problems, but like all the attempts to achieve “decentralization” there is no point to it, no practical future and no reality to it.
Decentralization is a false virtue that…