The environment is precious, resources are scarce, and we are compelled to sustain this beautiful planet for future generations. Bitcoin’s detractors single out bitcoin mining as regressive and environmentally damaging, … More SMM: (ed.11) The ESG Solution
This article originally appeared in Bitcoin Magazine. Skeptics often argue that governments will ban Bitcoin when it becomes too important and threatens national sovereignty. At least these critics understand Bitcoin’s … More SSM: (ed.10) Worried about a ban? Then you need bitcoin more than you think
Today, bitcoin is idiosyncratic to traditional financial markets. Unlike bonds, equity and property, bitcoin’s returns are uncorrelated with economic growth, inflation, or risk premia. Bitcoin is related to these variables … More SMM: (ed.9) When bitcoin is fundamental & legacy markets are idiosyncratic
In January 2020 an internet chat group took down a Wall Street hedge and got one back for the little guy in a classic Robinhood story – or so you’re … More SMM: (ed. 7) When will this Game of reverse Robinhood Stop?
Bitcoin’s detractors often refer to it as a speculative asset. This is partially true – an investment in bitcoin involves a speculation on an inherently uncertain future. But the connotation … More Embracing Speculation: High-probability potential in a speculative world
Bitcoin is in the process of monetisation whereby people adopt a digital, decentralised, global, censorship resistant store of value. Historically adoption cycles have centred on the halving, with an accumulation … More Learning Bitcoin’s Golden Language – Adoption cycles will persist post 2021
“Do you believe bitcoin?” “Do you believe in gold?” This line of questioning makes it sound like there is something mystical or religious about these store of value assets. Yes, … More Don’t “believe” in bitcoin; understand Store of Value, Stock-to-Flow and Network Effects
TLDR: Central banks positioning themselves as a solution to climate challenges is dangerous. They’ve promoted unsustainable debt fueled consumption for 50 years. Consumption is great but it needs to be … More Sound Money Monthly: (ed. 5) Central banking is an environmental disaster
Really enjoyed this Grant Williams podcast with Chris Cole. In fact, all Grant’s interviews in this series are worth listening to (more than once). There’s a lot of info I … More Chris Cole on derivatives, volatility, market structure and regime change
TLDR: The foundations of social trust are being tested. Our unsound monetary system with its negative consequences is a driver of this trust deficit. Communities that adopt sound money assets … More Sound Money Monthly: (ed.4) Where can we place our trust?