"What happens when collateral becomes liquid?"
Links to the best articles, videos and podcasts about Cryptoeconomics.
"Qualitative frameworks for analyzing open networks"
"Jurisdiction is a complex legal doctrine, but a fairly simple concept. Jurisdiction is how legal regimes govern crypto, and how crypto will govern legal regimes."
"Over the last few quarters, we’ve watched entrepreneurs shift their fundraising focus from token-based protocols to the relative safety of equity-capitalized, cash-flow extracting businesses."
"Although I’d love to see wider adoption and price recovery of Bitcoin and other cryptocurrencies, the underlying technology (blockchain) is already primed to disrupt many industries."
"I no longer think that price is the most compelling way for distributed compute projects to compete against centralized cloud providers; I now believe that it’s more about beating centralized providers on developer integrity."
"A quick guide to understanding the different motivations in crypto"
"Today, some of the most valuable corporations in the world today are “network operators”. Thanks to network effects, these platforms become more valuable to existing users as each new user joins. Network effects are innocuous at first, but can cause concern at scale if platforms enter an “extractive” phase in their lifecycle."
"We explore the design and implementation of trading algorithms in the crypto space. In particular, we focus on execution algos, market making algos, and several market microstructure considerations. We also investigate where practice diverges from theory, especially in handling the idiosyncrasies of the crypto markets."
"Although the crypto industry remains in its infancy, we think institutional investors should begin exploring it."
"In our conversations with institutional investors, we often get asked the question “What is your model to value Bitcoin?”. Investors want to know what the fundamental drivers are behind BTC price gyrations, and whether at a given time Bitcoin is overvalued, undervalued, or at fair value."
"Capital is, in essence, the power to organize the economic resources of a social system, and its worth a function of how much of those resources can be directed to the holder’s benefit."
"Crypto’s market map continues to grow in both its complexity and in its structure. This post seeks to present a framework of the burgeoning crypto industry, with select examples in their respective segments. It is not exhaustive."
"The fact that MMT is gaining traction and broader academic acceptance has implications for the economy, asset prices in general and cryptocurrencies. I will outline the tenets of MMT below, and what it means for the blockchain ecosystem."
"Wouldn’t the world be better off if we all shared the same currency?"
In the wake of the 2018 ICO bubble and with the purported potential of blockchain, many people have drawn parallels to the 2001 bubble. I recently reread Perez’s work to think through if there are any lessons for the world of blockchain, and to understand the parallels and differences between then and now. As Mark Twain may or may not have said, “History doesn’t repeat itself, but it does rhyme.”'
"Haiti is home to a strange monetary phenomenon. Shopkeepers and merchants set prices in the Haitian dollar, but there is no actual thing as the Haitian dollar."
"Szabo’s law is simple: Do not implement changes to the blockchain protocol unless the changes are required for the purpose of technical maintenance."