19 Matching Annotations
  1. Sep 2022
  2. Dec 2021
    1. They are certificates that represent claims on wealth. For any computer programmers in the audience, money is a pointer to wealth.
    2. It is never the amount of labor that has been exerted in bringing a thing into being that determines its value, but always the amount of labor that will be rendered in exchange for it.
  3. Jul 2021
    1. helping the favored few who first receive it, directly or indirectly, plus all pre-existing financial asset owners
    2. mark up the size

      A debt obligation (opposed to supply tangible currency)

  4. Mar 2021
    1. new cultural language that younger generations are introducing

      Where is this most readily observed? Twitter?

    2. quantifiable

      The "like" economy

    3. market value is decided by users

      i.e. share classes differentiated on social vs. fiscal capital

    4. Does its share price reflect the value it contributes to society?

      Why should it's share price capture this unless it's made tangible and thus liquid?

  5. Jan 2021
    1. an infinite amount of cash

      Modern Monetary Theory has gone mainstream?

      MMT addresses traditional inflation in the context of full employment, whereas the asset inflation described here is left out of the equation.

    2. No matter how well-intentioned, runaway global money printing, and the resulting financial repression, is society’s largest global challenge.

      Is this true?

    3. The Power of Bitcoin’s Network Effect
    4. Where are all the Billionaires & Why Should We Care
    5. technological network effects

      The identification of technological network effects and their topology is a skill. By what methodology can this practice be exercised and refined?

    6. Thus, Bitcoin can make monetizable isolated energy sources all over the world – like waterfalls, running rivers, or creatable dams – now entirely untapped because they would be cost prohibitive to connect to electric grids close enough to residential or industrial areas. 

      This is an interesting second-order consequence. What are others?

    7. credit risk is not a concept

      Yet risks due to irreversibly are introduced. Will this be (and is it relevant to be) addressed below?

    8. first

      Disagree; limited-quantity cultural artifacts precede it.

    9. Salability

      Adjective: subject to or suitable for sale; readily sold.