Fundamentals

Privacy, Fungibility, Anonymity

“Technologies of anonymous communication, anonymous currency, and reputation systems have been invented. They cannot be un-invented. These are all the ingredients needed to build a circular economy with strong privacy in cyber-space” – NoPara73

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Guy’s Take #45 – A Mental Framework for Scaling

No matter how often we cover these ideas, it still seems astonishingly common for new people to fall into the same old fallacies and the same misguided thinking. In this episode I try to cover all the major problems with the “raise the blocksize” mentality, and why its thinking incorrectly about what the system even provides, and most importantly how it provides it.

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What I Really Think About Bitcoin

“I believe Bitcoin is one hell of an invention. To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment.” – Ray Dalio

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The Cantillon Effect 2.0 – Bitcoin is the First Truly Fair Money

“Because of Nakamoto’s deliberate actions and Bitcoin’s permissionless, free & open-source nature, bitcoin is the first truly neutral money. Bitcoin eliminates the inherent unfairness that comes with all previous monies as well as any need to trust a third party in order to use Bitcoin.” – CK & Deniz Saat

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Why Bitcoin Is Not a Ponzi Scheme

“From the begin­ning, Bitcoin has remained an open source and fully trans­parent project, and has the most organic growth trajec­tory of the industry. Given avail­able infor­ma­tion, the market has priced it as it sees fit, out in the open.” – Lyn Alden

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Happy HODL Day!

“GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY…” – GameKyuubi

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The Fiat Standard – Chapter 1

“For the reader who has become familiar with the operation of bitcoin, a good way to understand the operation of fiat is by drawing analogy to the operation of bitcoin using concepts like mining, nodes, balances, and proof of work. My aim is to explain the operation and engineering structure of the fiat monetary system and how it operates, in reality, away from the naive romanticism of governments and banks who have benefited from this system for a century.” – Saifedean Ammous

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Why Does Bitcoin Have Value?

“What Bitcoin is depends on its use as a means of storing and porting value, which in turn rests on secure titles to ownership of a scarce good.” – Jeffrey Tucker

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Guy’s Take #37 – Dear James Woods, Sincerely Guy Swann

“All you can do with Bitcoin once you buy it is sell it, but you need somebody else to buy it from you.” – Peter Schiff
James Woods shared a tweet with what is, in the end, a generally rational skepticism and common initial impression of Bitcoin. From an article at Fox Business, that based its argument on a few quotes from the king and queen of Bitcoin trolls, Peter Schiff and Nouriel Roubini. “You can’t do anything with it but sell it,” they claim, “its a huge scam and pump and dump” they added. As a Bitcoiner I would obviously argue this is completely false, but its not easy at first to see why, and it takes a huge amount of history, and close scrutiny to see the bigger picture.

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7 Misconceptions About Bitcoin

“Bitcoin is more easily verifiable than gold, in terms of being a reserve asset and being used as collateral. It’s more frictionless to transfer than gold, and has a hard-capped supply. And I like gold too; I’ve been long it since 2018, and still am.” – Lyn Alden

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