# Introduction

## What This Is

This initiative is an exploration of the ideations of crypto and "web3" and its constituent technologies, aspirations and economics. The concept of [web3](/concepts/web3.md) is a fuzzy term often accused of being a buzzword that can be hard to make sense of, this initiative aims to address the misunderstandings and shed a light on basic macroeconomics and technology for those tasked with doing sense-making for the public. Our [methodology](/guide/method.md) aims to create a balanced and moderate perspective that incorporates ideas from conventional macroeconomics, political economy and computer science.

This page serves as a root from which all other topics branch and can be explored. 

## Key Concepts

Understand the terminology used to describe crypto and web3.

* [Web3](/concepts/web3.md)
* [Crypto asset](/concepts/cryptoasset.md)
* [Bitcoin](/concepts/bitcoin.md)
* [Ethereum](/concepts/ethereum.md)
* [Blockchain](/concepts/blockchain.md)
* [Bubble](/concepts/bubble.md)
* [Money](/concepts/money.md)
* [NFT](../concepts/nft.md)
* [Private money](../concepts/private-money.md)
* [Deflationary asset](../concepts/deflationary.md)
* [Sound money](../concepts/sound-money.md)
* [Ponzi scheme](../concepts/ponzi-scheme.md)
* [Pump and dumps](../concepts/pump-and-dump.md)
* [Wash trading](../concepts/wash-trading.md)
* [Crypto exchanges](/concepts/crypto-exchange.md)
* [Greater fool theory](../concepts/greater-fool-theory.md)
* [Zero-sum game](../concepts/zero-sum-game.md)
* [Memecoins](../concepts/memecoin.md)
* [Assets](/concepts/assets.md)
* [Intrinsic value](../concepts/use-value.md)
* [Store of value](../concepts/store-of-value.md)
* [Speculative asset](/concepts/speculation.md)
* [Market manipulation](../concepts/market-manipulation.md)
* [DeFi](../concepts/defi.md)
* [DAO](/concepts/dao.md)
* [Stablecoin](../concepts/stablecoin.md)
* [Regulatory arbitrage](../concepts/regulatory-arbitrage.md)
* [United States Dollar](/concepts/dollar.md)
* [Central bank digital currency](../concepts/cbdc.md)

***

### Claims

Explore crypto and "web3" in terms of the claims made about it. These subclaims fall into six categories about different aspects of either technical, financial or political reconfiguration projects.

**Better Economy**

* [Is bitcoin a currency?](/claims/is-bitcoin-currency.md)
* [Are crypto assets a risk to the dollar?](../claims/threaten-dollar.md)
* [What type of asset is a crypto token?](/claims/what-type-of-asset.md)
* [How do we value a crypto token?](/claims/valuation-model.md)
* [Are crypto assets a systemic risk to the economy?](../claims/systemic-risk.md)
* [Is bitcoin the basis for a new gold standard?](../claims/digital-gold.md)
* [Are crypto assets a bubble?](../claims/is-bubble.md)
* [Are crypto assets a form of gambling?](../claims/is-gambling.md)
* [Are crypto tokens an inflation hedge?](../claims/hedge-inflation.md)
* [Is private money a desirable system?](../claims/is-private-money.md)
* [Is bitcoin compataible with ESG investing?](../claims/bitcoin-esg.md)

**Better Society / Financial Inclusion**

* [What consumer protections exist for crypto assets?](../claims/consumer-protections.md)
* [Are crypto assets a form of predatory inclusion?](../claims/is-predatory.md)
* [Is crypto a solution for the unbanked?](/claims/crypto-unbanked.md)
* [Is crypto providing faster payment rails or better remittance services?](../claims/is-better-payments.md)
* [What is the narrative economics of crypto assets?](../claims/narrative-economics.md)
* [Are crypto assets legal?](../claims/is-legal.md)
* [Are crypto tokens a negative-sum investment?](/claims/negative-sum.md)
* [Why do people invest in crypto tokens?](../claims/why-invest.md)
* [Why does crypto have such a weird subculture?](/claims/weird-culture.md)

**Financial Liberty**

* [Is an unregulated transnational payment rail even desirable?](../claims/transnational-payment.md)
* [Are crypto tokens a hedge against the "debasement" of the dollar?](../claims/hedge-debasement.md)
* [Are crypto tokens a means to counter authoritarianism?](../claims/authoritarianism.md)
* [Can I raise money for my non-profit using crypto tokens?](../claims/is-raise-nonprofit.md)
* [Can I do a crowdfunded equity raise for my company using crypto tokens?](../claims/is-raise-company.md)

**Solving Public Goods Problems**

* [Is crypto a means to fund public goods projects?](../claims/is-public-goods.md)
* [Is bitcoin mining harmful to the environment?](../claims/environmental-footprint.md)
* [Is crypto bringing about the "financialization of everything"?](../claims/is-hyperfinancialization.md)
* [Is crypto a giant misallocation of resources with an enormous opportunity cost?](../claims/is-opportunity-cost.md)

**Financial Innovation**

* [Is the underlying technology of "blockchain" useful for non-monetary purposes?](../claims/blockchain-tech.md)
* [Is web3 even a well-defined term?](../claims/well-defined.md)
* [Is web3 green?](../claims/web3-green.md)
* [Is web3 decentralized?](../claims/web3-decentralized.md)
* [Is web3 the next generation of the internet?](../claims/new-internet.md)

**Creative Destruction**

* [Is web3 a means to dismantle the American tech hegemony?](../claims/is-disrupt-hegemony.md)
* [Is web3 a means to rebuild the global financial system?](../claims/is-new-financial-system.md)
* [Are crypto tokens a means to accelerate the collapse of capitalism?](../claims/is-collapse.md)

***

## Contextual

Understand crypto and "web3" in terms of recent news events and interviews and external resources.

* [Video Interviews](/guide/interviews)
	1. [Episode #1: Neo-Metallism](../notes/neo-metallism.md)
	2. [Episode #2: Market Fundamentalism](../notes/market-fundamentalism.md)
	3. [Episode #3: Securities Regulation](/notes/are-crypto-tokens-securities.md)
	4. [Episode #4: Post-state Technocracy](../notes/post-state-technocracy.md)
	5. Episode #5: Fintech Incrementalism
* [Recent News Stories](/notes/recent-events.md)
* [Commentary on 'Line Goes Up'](../notes/olson-2022-line-go-up.md)

***

## Ideologies

Explore crypto and "web3" in terms of different perspectives on politics and economics.

* [Market Fundamentalism](../concepts/ideologies/market-fundamentalism.md)
* [Financial Nihilism](../concepts/ideologies/financial-nihilism.md)
* [Austrian Economics](../concepts/ideologies/austrian-economics.md)
* [Post State Technocracy](../concepts/ideologies/post-state-technocracy.md)
* [Libertarianism](../concepts/ideologies/libertarianism.md)
* [Technolibertarianism](../concepts/ideologies/technolibertarianism.md)
* [Cryptoanarchism](../concepts/ideologies/cryptoanarchism.md)
* [Anarchocapitalism](../concepts/ideologies/anarchocapitalism.md)
* [Keynsian Economics](../concepts/ideologies/keynsian-economics.md)
* [Technosolutionism](../concepts/ideologies/technosolutionism.md)
* [Technocollectivism](../concepts/ideologies/techno-collectivism.md)
* [Accelerationism](../concepts/ideologies/accelerationism.md)

***

## Supporting Concepts

Understand the deeper theoretical concepts behind the technical and economic claims.

**Economics**

* [Artificial scarcity](/concepts/artificial-scarcity.md)
* [Asymmetric information](/concepts/asymmetric-information.md)
* [Central banks](/concepts/central-banks.md)
* [Currency](/concepts/currency.md)
* [Currency peg](/concepts/currency-peg.md)
* [Free rider problem](/concepts/free-rider-problem.md)
* [Gold standard](/concepts/gold-standard.md)
* [Market manipulation](/concepts/market-manipulation.md)
* [Moral hazard](/concepts/moral-hazard.md)
* [Public goods](/concepts/public-goods-problem.md)
* [Zero-sum game](/concepts/zero-sum-game.md)
* [Liquidity](../concepts/liquidity.md)
* [Pump and dump scheme](../concepts/pump-and-dump.md)
* [Multilevel marketing scheme](../concepts/mlm.md)
* [Pyramid scheme](../concepts/pyramid-scheme.md)
* [Ponzi scheme](../concepts/ponzi-scheme.md)
* [Meme stocks](../concepts/meme-stock.md)
* [Reserve currency](../concepts/reserve-currency.md)
* [Bretton Woods system](../concepts/bretton-woods.md)
* [Wash trading](../concepts/wash-trading.md)
* [Liquidity pool](../concepts/liquidity-pool.md)
* [Assets](../concepts/assets.md)
	* [Real estate](../concepts/real-estate.md)
	* [Gold](../concepts/gold.md)
	* [Art](../concepts/art.md)
	* [Commodity](../concepts/commodity.md)
	* [Derivative](../concepts/derivative.md)
	* [Bond](../concepts/bond.md)
	* [Certificate deposit](../concepts/cd.md)
	* [Dollar](../concepts/dollar.md)
	* [Commercial paper](../concepts/commercial-paper.md)
	* [Credit Default Swap](../concepts/cds.md)

**Technology**

* [Blockchain](/concepts/blockchain.md)
* [Cryptoasset](/concepts/cryptoasset.md)
* [Immutability](../concepts/immutability.md)
* [Crypto Wallet](../concepts/wallet.md)
* [Decentralized Finance (DeFi)](/concepts/defi.md)
* [Decentralization](/concepts/decentralization.md)
* [Initial Coin Offering (ICO)](/concepts/ico.md)
* [Non-fungible token (NFT)](/concepts/nft.md)
* [Ransomware](/concepts/ransomware.md)
* [Smart contracts](/concepts/smart-contracts.md)
* [Stablecoin](/concepts/stablecoin.md)
* [Mining](/concepts/mining.md)
* [Permissioned blockchain](../concepts/permissioned-blockchain.md)
* [Central Bank Digital Currency (CBDC)](/concepts/cbdc.md)
* [Automated Market Maker (AMM)](../concepts/amm.md)
* [Decentralized Exchange (DEX)](../concepts/dex.md)
* [Yield Farming](../concepts/yield-farming.md)

**Regulation**

* [Howey test](../concepts/howey-test.md)
* [Securities framework](/concepts/security.md)
* [Anti-money laundering law](/concepts/aml.md)
* [Know Your Customer Law](/concepts/kyc.md)
* [Money laundering](../concepts/money-laundering.md)
* [Regulatory capture](../concepts/regulatory-capture.md)
* [Money services business](../concepts/money-services-business.md)
* [Deposit Insurance](../concepts/deposit-insurance.md)
* [Counter-terrorism financing](../concepts/ctf.md)
* [Illicit financing](../concepts/illicit-financing.md)
* [Broker-dealer](../concepts/broker.md)

**Sociology**

* [Value](../concepts/value.md)
* [Use value](../concepts/use-value.md)
* [Sign value](../concepts/sign-value.md)
* [Bubbles](../concepts/bubble.md)
* ["Madness of crowds"](../concepts/madness-crowds.md)
* [Decentralization](../concepts/decentralization.md)
* [Recentralization](../concepts/recentralization.md)
* [High control groups](../concepts/high-control-group.md)
* [Thought terminating cliche](../concepts/thought-terminating-cliches.md)
* [Bandwagon bias](../concepts/bandwagon-bias.md)
* [Tinkerbell effect](../concepts/tinkerbell-effect.md)
* [Endowment effect](../concepts/endowment-effect.md)
* [Predatory inclusion](../concepts/predatory-inclusion.md)