"A multibillion-dollar, privately-owned infrastructure is now essential to the modern internet economy. That should freak you out."
"The numbers speak for themselves."
"Virtual currency transactions are taxable by law just like transactions in any other property. Taxpayers transacting in virtual currency may have to report those transactions on their tax returns."
"With the advent of cryptocurrencies, and later, the application of “blockchain” to well…. everything, central banks have now gotten intrigued by the potential to use “blockchain technology” to add a new set of tools to their policy toolkit."
"Understanding the concept of owning Bitcoin or other cryptocurrencies can be a challenge in the beginning. These are purely digital assets and the ownership is defined by holding a secret — the private key — to access them."
"A SIM swap is a low-cost, nontechnical way for attackers to gain control of a victim’s wireless phone account. To pull off an attack, a hacker needs to know how mobile wireless carriers authenticate identity and some portion of information about their victim. Often, this only requires a victim’s phone number."
"Could Lamborghini mention frequency really be a technical indicator of Bitcoin price performance?"
Shiller observes (p. 161) that “the enthusiasm for bimetallism in the nineteenth century seems similar to the excitement for Bitcoin we have seen in recent years.” Later he goes a bit further to propose that “narratives about gold and money have a peculiar emotional tone, analogous to the emotions we see in cryptocurrency narratives today.”
"Memes are ideas that spread through communities and represent a shared subculture or perception of reality. Memes shape everything around us from politics to religion to the very concept of a nation state."
"The acceptance and value of Bitcoin is largely based on imitation which can be explored through Rene Girard’s mimetic theory. We usually explain why we want something because it fits our unique preferences, or we highlight the objective good qualities something has. But in reality, we are frequently imitating others. We pattern our choices based on another’s example. This is also the nature of the monetization process."
"The desire of central banks around the world to keep rates low to stimulate investment and prop up public markets comes at a cost to people who want to save for the future."
"Urbit is a challenging project to fully describe because, rather than a single product, it’s an entire system. Often when I talk about one of the individual elements of the system, someone will tell me that another company is already building that — and they’re usually right. What sets Urbit apart is that we’re building all these elements at once to work together seamlessly."