Enders Game
For context, the following research piece was written just before the Fed began to unwind its balance sheet (October 2017) and it hasn't been revised or altered since. At the…
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Gradually, Then Suddenly
Introduction This is the first of a weekly series that I’ve decided to write on the subject of bitcoin, inspired by my friends Marty Bent and Saifedean Ammous. Education is such…
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Bitcoin Can’t Be Copied
As kids, we all learn that money doesn’t grow on trees. As a society on the other hand, we have become conditioned to believe that it’s not only possible but…
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Bitcoin Is Not Too Volatile
Has anyone you respect ever told you that bitcoin doesn't make any sense? Maybe you've seen the price of bitcoin rise exponentially and then seen it crash. You write it…
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Bitcoin Does Not Waste Energy
How many times have you heard the safety instructions before a standard commercial flight? You probably know them by heart, but every time, prior to takeoff, flight attendants instruct passengers…
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Bitcoin is Not Too Slow
In Peter Thiel’s Zero to One, he outlines the impact new technology has on building a non-zero sum future. While the book is focused on individuals and companies, bitcoin as…
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Bitcoin Fixes This
This past week marked that time of year when global central bankers, establishment economists and CNBC, et al. descend on Jackson Hole, Wyoming to discuss the systemic issues that plague…
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Bitcoin, Not Blockchain
Have you ever heard a smart sounding friend say that they aren’t sure about bitcoin but they believe in blockchain technology? This is like saying you believe in airplanes but…
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Bitcoin is Not Backed by Nothing
Contrary to popular belief, bitcoin is in fact backed by something. It is backed by the only thing that backs any form of money: the credibility of its monetary properties.…
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Bitcoin is Not a Pyramid Scheme
A few years ago, I received an email from a friend asking for my opinion about an investment opportunity that a mutual contact of ours was considering. After a quick…
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Bitcoin Cannot be Banned
The idea that somehow bitcoin can be banned by governments is the final stage of grief, right before acceptance. The consequence of the statement is an admission that bitcoin “works.”…
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Bitcoin is Not for Criminals
If you have ever heard (or happen to believe) that bitcoin is primarily a tool used by criminals, stop and take a quick sample of your friends and family that…
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Bitcoin Obsoletes All Other Money
When it comes to bitcoin adoption, there are generally two rules that never seem to fail. Everyone always feels late, and everyone always wishes they had bought more bitcoin. There…
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Bitcoin is a Rally Cry
“To the People of Texas and all Americans in the world.” In his open call to arms from the Alamo, Lt. Colonel William B. Travis began with an expression of…
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Bitcoin is Common Sense
“Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a…
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Bitcoin is Antifragile
If one thing is certain, it is that bitcoin is humbling. It humbles everyone. Some sooner than others, but everyone eventually. Individuals you respect may have called bitcoin a fraud…
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