Economics

Efficient Markets & Bitcoin’s Stock to Flow

January 23, 2020 Guy 0 Comments

“A first reaction could be that it is a great investment opportunity. A better reaction (from an EMH and non arbitrage point of view) would be that it is too good to be true.” – PlanB

Introduction to the Efficient Market Hypothesis for Bitcoiners

January 22, 2020 Guy 0 Comments

“So is the halving “priced in” or will it be a catalyst for appreciation? […] I consider it patently absurd that a change in issuance would have been overlooked by the price-setting entities.” – Nic Carter

The Information Theory of Money

January 10, 2020 Guy 0 Comments

“Prices are the coordinating force of a free market system. Each individual decision-maker can rely on the prices of goods and services to help with their decision making, as the prices themselves are a distillation of all known market information into a single metric.” – Dan Held

Bitcoin is Not Backed by Nothing

January 2, 2020 Guy 0 Comments

“To provide broader context, the Federal Reserve, the Bank of Japan and the European Central bank have collectively created $10 trillion dollars-worth of new money since the financial crisis, the equivalent of approximately $500,000 per bitcoin. Despite dollars, euro, yen and bitcoin all being digital, bitcoin is the only medium that is tangibly scarce and the only one with inherent monetary properties.” – Parker Lewis

Reboot – The Three Economic Eras of Bitcoin

December 31, 2019 Guy 0 Comments

A most profound aspect of Bitcoin is that we know, with certainty, what the monetary policy will be no matter how far we look into the future. If we choose to secure sound money for the world, then we have to establish the important markets, build the tools and protocols, and most importantly make the tough decisions now, instead of kicking the can down the road.

Keynesian Errors on Time and Demand

December 3, 2019 Guy 0 Comments

What if there was a single, fundamental flaw in Keynesian economic theory that could shed light on the major imbalances and debts that have resulted from our monetary system? Does “spending” and consumption of resources truly make us wealthier? Ben Kaufman lays out the argument for how “Time” is the missing piece in the failed Keynesian puzzle.

Unpacking Bitcoin’s Assurances

December 3, 2019 Guy 0 Comments

We make claims about Bitcoin’s assurances all the time. It is censorship resistant, it’s open and permissionless, it’s counterfeit proof, etc. But are these things entirely true? When someone wants to acquire, use, or validate Bitcoin, how well do the claims match reality?