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Knowledge Protocol. Daily curated links from the space of blockchain, bitcoin, tokens, cryptocurrencies and protocols. No news, no bullshit, deep knowledge only.

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10 years ago a bunch of nerds came together and memed a global currency into existence

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It would be impossible for every Fidelity brokerage customer to own even one Bitcoin. This is why Bitcoins are worth thousands of dollars, while a dollar is only worth one dollar (and only until next year when when it's worth 97 cents). Save wisely.

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It looks like for the first time in history the volatility of bitcoin dipped below that of the stock market.

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Turns out the real money in crypto in 2018 is in putting on blockchain conferences.

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Commentators often seem surprised when companies make moves, invest, or launch products during crypto bear markets. They then act confused when bull markets return. "Where did this come from?" they ask. Perhaps this is why they are commentators, rather than business people.

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The collective desire for cryptocurrency is driven by a longing for fiction to come into reality. By commodifying belief into scarce, fungible, units, the cryptocurrency harnesses this desire and works to amplify positive feedback loops between belief, value, and becoming.

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Mass adoption of Bitcoin is inevitable

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Computer engineers now make up 25% of Goldman Sachs' workforce. One of every five deposits at Bank of America come from a cell phone, and big-bank backed Zelle processed $75B in peer-to-peer transactions in their first year. Banks are already tech companies. Blockchain next.

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"It will be like playing musical chairs, when the first central bank, let's say Switzerland, longs Bitcoin, the music stops and every bank tries to grab one of the few million chairs, Don't be caught without Bitcoin when the music stops." Travis Kling

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REMINDER: A single bank location at one bank laundered more money than the entire market cap of cryptocurrencies.

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I hate implying I'm an expert in anything but I'll share some thoughts. The lack of a fundamental supply reaction makes crypto easier to manipulate. If crude oil is manipulated higher, drilling increases to drive price back down partially.

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I'm told that I'm being very disrespectful by referring to the Blockchain as a mere data structure, and that it is more like a way of life. I apologize to any computers I've offended.

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Crypto is evolving differently from social. Social networks acquired users easily but had to prove monetization over time. Crypto projects can monetize easily but must prove user acquisition over time.

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Every time someone calls a 10% gain “mooning”, we get another day added to the bear market

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Average Crypto Investor: Buy the Meme, Sell the Dream. We live in the post-truth world. You win if you tell better stories.

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Correlation of crypto with other asset classes has usually been around zero because crypto has been dominated by retail investors. I expect correlations to become positive with time. Crypto is a speculative asset class that draws on excess liquidity, not a safe haven asset class.

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Bitcoin is secured by time and energy, two of the fundamental units of scarcity and value in the universe.

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If you need to login it’s not your bitcoin

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