diff --git a/claims/blockchain-tech.md b/claims/blockchain-tech.md index 9d81c28..2dafb06 100644 --- a/claims/blockchain-tech.md +++ b/claims/blockchain-tech.md @@ -5,11 +5,12 @@ The technical purpose of blockchains is to create [censorship resistent](../conc ## References 1. Schneier, Bruce. 2019. ‘There’s No Good Reason to Trust Blockchain Technology’. Wired Magazine. https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/. -1. Jeffries, Adrianne. 2018. ‘Blockchain Is Meaningless’. The Verge 7: 2018. 1. Rosenthal, David. n.d. ‘Stanford Lecture on Cryptocurrency’. Accessed 2 March 2022. https://blog.dshr.org/2022/02/ee380-talk.html. +1. Jeffries, Adrianne. 2018. ‘Blockchain Is Meaningless’. The Verge 7: 2018. https://www.theverge.com/2018/3/7/17091766/blockchain-bitcoin-ethereum-cryptocurrency-meaning. 1. Stinchcombe, Kai. 2017. ‘Ten Years In, Nobody Has Come Up With a Use for Blockchain’. Hackernoon. 22 December 2017. https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100. 1. ———. 2018. ‘Blockchain Is Not Only Crappy Technology but a Bad Vision for the Future’. Medium (blog). 9 April 2018. https://medium.com/@kaistinchcombe/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec. -1. Orlowski, A. 2018. ‘Blockchain Study Finds 0.00% Success Rate and Vendors Don’t Call Back When Asked for Evidence’. The Register. +1. Pollock, Rufus. 2016. ‘Reflections on the Blockchain · Rufus Pollock Online’. 2 July 2016. https://rufuspollock.com/2016/07/02/reflections-on-the-blockchain/. +1. Orlowski, A. 2018. ‘Blockchain Study Finds 0.00% Success Rate and Vendors Don’t Call Back When Asked for Evidence’. The Register. https://www.theregister.com/2018/11/30/blockchain_study_finds_0_per_cent_success_rate/. 1. Diehl, Stephen. 2021. ‘Blockchainism’. 11 December 2021. https://www.stephendiehl.com/blog/blockchainism.html. 1. Manski, Sarah, and Michel Bauwens. 2020. ‘Reimagining New Socio-Technical Economics Through the Application of Distributed Ledger Technologies’. Frontiers in Blockchain 2 (January): 1–17. https://doi.org/10.3389/fbloc.2019.00029. 1. Pardo-Guerra, Juan Pablo. 2019. Automating Finance. https://doi.org/10.1017/9781108677585. @@ -20,5 +21,4 @@ The technical purpose of blockchains is to create [censorship resistent](../conc 1. Weaver, Nicholas. 2018. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4. 1. White, Molly. 2022a. ‘Blockchain-Based Systems Are Not What They Say They Are’. Molly White (blog). 9 January 2022. https://blog.mollywhite.net/blockchains-are-not-what-they-say/. 1. ———. 2022b. ‘It’s Not Still the Early Days’. Molly White. 14 January 2022. https://blog.mollywhite.net/its-not-still-the-early-days/. -1. Pollock, Rufus. 2016. ‘Reflections on the Blockchain · Rufus Pollock Online’. 2 July 2016. https://rufuspollock.com/2016/07/02/reflections-on-the-blockchain/. -1. Bindseil, Ulrich, Patrick Papsdorf, and Jürgen Schaaf. 2022. ‘The Encrypted Threat: Bitcoin’s Social Cost and Regulatory Responses’. 7 January 2022. https://web.archive.org/web/20220107084533/https://www.suerf.org/docx/f_88b3febc5798a734026c82c1012408f5_38771_suerf.pdf. \ No newline at end of file +1. Bindseil, Ulrich, Patrick Papsdorf, and Jürgen Schaaf. 2022. ‘The Encrypted Threat: Bitcoin’s Social Cost and Regulatory Responses’. 7 January 2022. https://www.suerf.org/docx/f_88b3febc5798a734026c82c1012408f5_38771_suerf.pdf. \ No newline at end of file diff --git a/claims/is-gambling.md b/claims/is-gambling.md index f7a4f2c..d1ae033 100644 --- a/claims/is-gambling.md +++ b/claims/is-gambling.md @@ -22,11 +22,4 @@ Crypto assets are not gambling if one participates in a [cartel](../concepts/car 1. ———. 2018b. ‘Transaction Costs and Tethers: Why I’m a Crypto Skeptic’. The New York Times 21. 1. ———. 2021. ‘The Brutal Truth About Bitcoin’. The New York Times 21. 1. Taleb, Nassim Nicholas. 2021. ‘Bitcoin, Currencies, and Fragility’. ArXiv:2106.14204 [Physics, q-Fin], July. http://arxiv.org/abs/2106.14204. -1. Weaver, Nicholas. 2018. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4. - -## References -* [@knauer_what_2019] -* [@barrett_why_2021] -* [@powell_crypto-shills_2019] -* [@panos_financial_2019] -* [@koning_bitcoin_2020] \ No newline at end of file +1. Weaver, Nicholas. 2018. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4. \ No newline at end of file diff --git a/claims/well-defined.md b/claims/well-defined.md index 3497012..55ba3a4 100644 --- a/claims/well-defined.md +++ b/claims/well-defined.md @@ -1,14 +1,13 @@ # Is web3 a well-defined term? Web3 does not have any universally agreed upon definition. -Web3 has been accused of becoming an intellectual nexus for many internet "thought leaders" to pontificate about grand visions of technical and financial reconfiguration largely detached from any concrete plans or implementations of these ideas. This may give rise to a [bubble](bubble.md) in the sale of [security](../concepts/security.md) tokens detached from any progress on building real companies or technologies and may even disincentive productivity in favour of pure [speculation](../concepts/speculation.md). +Web3 has been accused of becoming an intellectual nexus for many internet "thought leaders" to pontificate about grand visions of technical and financial reconfiguration largely detached from any concrete plans or implementations of these ideas. This may give rise to a [bubble](bubble.md) in the sale of [security](../concepts/security.md) tokens detached from any progress on building real companies or technologies and may even disincentivize productivity in favour of pure [speculation](../concepts/speculation.md) on [ficticious commodites](../concepts/ficticious-commodity.md). Web3 has also been described as a means of doing [regulatory arbitrage](regulatory-arbitrage.md) on [securites](security.md) offerings to enrich venture capital firms using the broader public as exit [liquidity](../concepts/liquidity.md). Web3 has been [criticised](https://www.stephendiehl.com/blog/web3-bullshit.html) as being an intentionally ambiguous buzzword. ## References - 1. Morozov, Evgeny. 2022. ‘Web3: A Map in Search of Territory’. The Crypto Syllabus. 13 January 2022. https://the-crypto-syllabus.com/web3-a-map-in-search-of-territory/. 1. O’Reilly, Tim. 2021. ‘Why It’s Too Early to Get Excited About Web3’. O’Reilly Media. 13 December 2021. https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/. 1. Patterson, Dan. 2022. ‘Internet Guru Tim O’Reilly on Web3: “Get Ready for the Crash”’. CBS News. 10 February 2022. https://www.cbsnews.com/news/web3-cryptocurrency-nft-tim-oreilly/. @@ -21,14 +20,4 @@ Web3 has been [criticised](https://www.stephendiehl.com/blog/web3-bullshit.html) 1. Yaffe-Bellany, David. 2022. ‘Millions for Crypto Start-Ups, No Real Names Necessary’. The New York Times, 2 March 2022, sec. Technology. https://www.nytimes.com/2022/03/02/technology/cryptocurrency-anonymity-alarm.html. 1. Zitron, Ed. 2022. ‘Solutions That Create Problems’. Substack newsletter. Ed Zitron’s Where’s Your Ed At (blog). 23 February 2022. https://ez.substack.com/p/solutions-that-create-problems. 1. Diehl, Stephen. 2021. ‘Web3 Is Bullshit’. 4 December 2021. https://www.stephendiehl.com/blog/web3-bullshit.html. -1. White, Molly. 2022. ‘It’s Not Still the Early Days’. Molly White. 14 January 2022. https://blog.mollywhite.net/its-not-still-the-early-days/. - -## References -* [https://web3isgoinggreat.com](https://web3isgoinggreat.com) -* [@diehl_web3_2021] -* [@weaver_web3_2021] -* [@white_its_2022] -* [@morozov_web3_2022] -* [@patterson_internet_2022] -* [@oreilly_why_2021] -* [@tante_third_2021] \ No newline at end of file +1. White, Molly. 2022. ‘It’s Not Still the Early Days’. Molly White. 14 January 2022. https://blog.mollywhite.net/its-not-still-the-early-days/. \ No newline at end of file diff --git a/claims/why-invest.md b/claims/why-invest.md index df592c6..47f815e 100644 --- a/claims/why-invest.md +++ b/claims/why-invest.md @@ -21,4 +21,4 @@ See [madness of crowds](../concepts/madness-crowds.md), [bubble](../concepts/bub 1. Knauer, Florian, and Andreas Mann. 2019. ‘What Is in It for Me? Identifying Drivers of Blockchain Acceptance among German Consumers’. The Journal of the British Blockchain Association, 10484. 1. Koning, J.P. 2020. ‘Bitcoin Financial Literacy and Crypto-Twitter’. American Institute for Economic Research. https://www.aier.org/article/bitcoin-financial-literacy-and-crypto-twitter/. 1. Panos, Georgios A, and Tatja Karkkainen. 2019. ‘Financial Literacy and Attitudes to Cryptocurrencies’. Available at SSRN 3482083. -1. Hellegren, Z. Isadora. 2017. ‘A History of Crypto-Discourse: Encryption as a Site of Struggles to Define Internet Freedom’. Internet Histories 1 (4): 285–311. https://doi.org/10.1080/24701475.2017.1387466. +1. Hellegren, Z. Isadora. 2017. ‘A History of Crypto-Discourse: Encryption as a Site of Struggles to Define Internet Freedom’. Internet Histories 1 (4): 285–311. https://doi.org/10.1080/24701475.2017.1387466. \ No newline at end of file diff --git a/concepts/mining.md b/concepts/mining.md index 539cce6..9419731 100644 --- a/concepts/mining.md +++ b/concepts/mining.md @@ -4,15 +4,7 @@ The technical process of confirming transactions in a [blockchain](blockchain.md Mining is an energy intensive process with a large environmental footprint. ## References -* [@de_vries_bitcoins_2018] -* [@de_vries_renewable_2019] -* [@de_vries_bitcoins_2021] -* [@badea_economic_2021] -* [@nanez_alonso_cryptocurrency_2021] -* [@kufeoglu_bitcoin_2019] -* [@mora_bitcoin_2018] -* [@vries_bitcoins_2021] -* [@vries_bitcoins_2020] -* [@gallersdorfer_energy_2020] -* [@goodkind_cryptodamages_2020] -* [@peplow_bitcoin_2019] \ No newline at end of file +1. Dindar, B., and Ö. Gül. ‘The Detection of Illicit Cryptocurrency Mining Farms with Innovative Approaches for the Prevention of Electricity Theft’. Energy & Environment, no. April (2021): 0958305X211045066. https://doi.org/10.1177/0958305x211045066. +1. Vries, Alex De. ‘Bitcoin’s Energy Consumption Is Underestimated : A Market Dynamics Approach’. Energy Research & Social Science 70, no. July (2020): 101721. https://doi.org/10.1016/j.erss.2020.101721. +1. Vries, Alex de. ‘Bitcoin’s Growing Energy Problem’. Joule 2, no. 5 (2018): 801–5. https://doi.org/10.1016/j.joule.2018.04.016. +1. Vries, Alex de, and Christian Stoll. ‘Bitcoin’s Growing e-Waste Problem’. Resources, Conservation and Recycling 175, no. September (2021): 105901. https://doi.org/10.1016/j.resconrec.2021.105901. \ No newline at end of file diff --git a/concepts/mixer.md b/concepts/mixer.md index 19f85ed..1187af5 100644 --- a/concepts/mixer.md +++ b/concepts/mixer.md @@ -1,4 +1,12 @@ # Crypto Mixer A crypto mixer is a [smart contract](smart-contracts.md) service that performs [money laundering](money-laundering.md) for a fee. The service obscures the origin of [illicit funds](illicit-financing.md) to evade detection by law enforcement. -Crypto mixers are a form of [regulatory arbitrage](regulatory-arbitrage.md). \ No newline at end of file +Crypto mixers are a form of [regulatory arbitrage](regulatory-arbitrage.md). + +## References +* Buttigieg, Christopher P., Christos Efthymiopoulos, Abigail Attard, and Samantha Cuyle. 2019. ‘Anti-Money Laundering Regulation of Crypto Assets in Europe’s Smallest Member State’. Law and Financial Markets Review 13 (4): 211–27. https://doi.org/10.1080/17521440.2019.1663996. +* Computerphile. 2018. Stolen Bitcoin Tracing - Computerphile - YouTube. https://www.youtube.com/watch?v=UlLN0QERWBs&ab_channel=Computerphile. +* Fanusie, Yaya, and Tom Robinson. 2018. ‘Bitcoin Laundering: An Analysis of Illicit Flows into Digital Currency Services’. Center on Sanctions and Illicit Finance Memorandum, January. +* Fletcher, Emily, Charles Larkin, and Shaen Corbet. 2021. ‘Countering Money Laundering and Terrorist Financing: A Case for Bitcoin Regulation’. Research in International Business and Finance 56 (January): 101387. https://doi.org/10.1016/j.ribaf.2021.101387. +* Orcutt, Mike. 2020. ‘This Is How North Korea Uses Cutting-Edge Crypto Money Laundering to Steal Millions’. MIT Technology Review. MIT Technology Review. http://www.technologyreview.com/2020/03/05/916688/north-korean-hackers-cryptocurrency-money-laundering/. +* Scheck, Justin, and Shane Shifflett. 2018. ‘How Dirty Money Disappears into the Black Hole of Cryptocurrency’. Wall Street Journal 28. diff --git a/concepts/whale.md b/concepts/whale.md index f774c52..870cc3c 100644 --- a/concepts/whale.md +++ b/concepts/whale.md @@ -1,4 +1,13 @@ # Whale A holder of a signfigant controlling stake in a [crypto asset](cryptoasset.md) who has the ability to influence [price formation](price-formation.md) and corner the market in a specific asset. -See [market-manipulation](market-manipulation.md). \ No newline at end of file +See [market-manipulation](market-manipulation.md). + +## References +* Arnosti, Nick, and S Matthew Weinberg. 2022. ‘Bitcoin: A Natural Oligopoly’. Management Science. +* Sai, Ashish Rajendra. 2021. ‘Towards a Holistic Assessment of Centralization in Distributed Ledgers’. https://ulir.ul.ie/handle/10344/10766. +* Sai, Ashish Rajendra, Jim Buckley, Brian Fitzgerald, and Andrew Le Gear. 2021. ‘Taxonomy of Centralization in Public Blockchain Systems: A Systematic Literature Review’. Information Processing and Management 58 (4): 102584. https://doi.org/10.1016/j.ipm.2021.102584. +* Schneider, Nathan. 2019. ‘Decentralization: An Incomplete Ambition’. Journal of Cultural Economy. https://doi.org/10.1080/17530350.2019.1589553. +* Soatok. 2021. ‘Against Web3 and Faux-Decentralization’. Dhole Moments. 19 October 2021. https://soatok.blog/2021/10/19/against-web3-and-faux-decentralization/. +* Walch, Angela. 2019. ‘Deconstructing ‘Decentralization’: Exploring the Core Claim of Crypto Systems’. C. Brummer (Ed.), Crypto Assets: Legal and Monetary Perspectives, 1–36. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3326244. +* Zhang, Zhexi. 2019. ‘The Aesthetics of Decentralization’. PhD Thesis, Massachusetts Institute of Technology. https://dspace.mit.edu/handle/1721.1/123614. \ No newline at end of file diff --git a/concepts/yield-farming.md b/concepts/yield-farming.md index acfffae..e4a04c9 100644 --- a/concepts/yield-farming.md +++ b/concepts/yield-farming.md @@ -1,2 +1,4 @@ # Yield Farming -CDs \ No newline at end of file +CDs + +## References \ No newline at end of file diff --git a/concepts/zero-sum-game.md b/concepts/zero-sum-game.md index b7890be..af60066 100644 --- a/concepts/zero-sum-game.md +++ b/concepts/zero-sum-game.md @@ -4,5 +4,12 @@ An economic game in which involves two sides and where the result is an advantag Investing in crypto tokens is necessarily a zero sum games before considering the cost of transactions and network maintenance. ## Negative Sum Games - An economic game where all gains and losses across all players sums to a negative quantity. + +## References +1. Hanley, Brian P. 2018. ‘The False Premises and Promises of Bitcoin’. ArXiv:1312.2048 [Cs, q-Fin], July. http://arxiv.org/abs/1312.2048. +1. Taleb, Nassim Nicholas. 2021. ‘Bitcoin, Currencies, and Fragility’. ArXiv:2106.14204 [Physics, q-Fin], July. http://arxiv.org/abs/2106.14204. +1. Stivers, A. 2019. ‘The Alchemy of a Pyramid: Transmutating Business Opportunity Into a Negative Sum Wealth Transfer’. http://ssrn.com/paper=3497682. +1. Stolfi, Jorge. n.d. ‘Bitcoin Is a Ponzi’. Accessed 19 March 2022. https://ic.unicamp.br/~stolfi/bitcoin/2020-12-31-bitcoin-ponzi.html. +1. ‘Why Bitcoin Is Worse than a Madoff-Style Ponzi Scheme’. n.d. Accessed 20 March 2022. https://www.ft.com/content/83a14261-598d-4601-87fc-5dde528b33d0. +1. Shri T Rabi Sankar. n.d. ‘Cryptocurrencies – An Assessment’. Reserve Bank of India. Accessed 2 March 2022. https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1196. \ No newline at end of file diff --git a/guide/index.md b/guide/index.md index ad792ee..f50e3d3 100644 --- a/guide/index.md +++ b/guide/index.md @@ -26,6 +26,7 @@ Understand the terminology used to describe crypto and web3. * [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) * [Speculative asset](/concepts/speculation.md) diff --git a/notes/post-state-technocracy.md b/notes/post-state-technocracy.md index 7e4400b..3a40c8a 100644 --- a/notes/post-state-technocracy.md +++ b/notes/post-state-technocracy.md @@ -1,4 +1,5 @@ # Post State Technocracy + Rufus Pollock and Stephen Diehl do a deep dive into the Silicon Valley utopian ideas of crypto assets and explore the notion that crypto assets are a means to create a new form of network state outside of the existing international order. @@ -22,6 +23,7 @@ https://www.youtube.com/watch?v=gZ0iCJkM3PU #todo ## References +1. Barlow, John Perry. 2019. ‘A Declaration of the Independence of Cyberspace’. Duke Law & Technology Review 18 (1): 5–7. 1. May, Tim. 1994. ‘Cyphernomicon’. 1. May, Timothy. 1992. ‘The Crypto Anarchist Manifesto’. High Noon on the Electronic Frontier: Conceptual Issues in Cyberspace. 1. ‘1729 - The Network State’. n.d. 1729. Accessed 4 March 2022. https://1729.com/. @@ -33,4 +35,4 @@ https://www.youtube.com/watch?v=gZ0iCJkM3PU 1. Hussain, Syed Omer. 2020. ‘Prefigurative Post-Politics as Strategy: The Case of Government-Led Blockchain Projects’. The Journal of The British Blockchain Association 3 (1): 1–11. https://doi.org/10.31585/jbba-3-1-(2)2020. 1. Srinivasan, Parag Khanna, Balaji S. n.d. ‘Great Protocol Politics’. Foreign Policy (blog). Accessed 22 February 2022. https://foreignpolicy.com/2021/12/11/bitcoin-ethereum-cryptocurrency-web3-great-protocol-politics/. 1. West, Sarah Myers. 2018. ‘Cryptographic Imaginaries and the Networked Public’. Internet Policy Review 7 (2): 1–16. https://doi.org/10.14763/2018.2.792. -1. Zhang, Zhexi. 2019. ‘The Aesthetics of Decentralization’. PhD Thesis, Massachusetts Institute of Technology. https://dspace.mit.edu/handle/1721.1/123614. +1. Zhang, Zhexi. 2019. ‘The Aesthetics of Decentralization’. PhD Thesis, Massachusetts Institute of Technology. https://dspace.mit.edu/handle/1721.1/123614. \ No newline at end of file diff --git a/site/pages/about.md b/site/pages/about.md index b0396ce..03c4ec2 100644 --- a/site/pages/about.md +++ b/site/pages/about.md @@ -67,7 +67,7 @@ Third, we provide a high quality “conceptual underlay” with definitions and ![](https://raw.githubusercontent.com/life-itself/web3/main/excalidraw/sensemaking-3-layers-2022-03-04.excalidraw.svg) -First, it provides a basic introduction for those coming to the topic with simple, neutral summaries of the key ideas and terms. Second, it provides a base “layer” that underpins the evaluative work and the overall sensemaking effort. For example, suppose you want to evaluate the claim that DAOs can help address the climate crisis. To do that you are going to need contextual material about public goods, [free rider problems](../../concepts/free-rider-problem.md) – as well as information on what a DAO is! In addition, this is an area where meanings of key terms are crucial and often ill-defined, for example what exactly do we mean by “collaboration” or “freedom” (and is our meaning shared)? By providing reference material and common definitions we can ground and inform the debate and avoid “talking past each other”. +First, it provides a basic introduction for those coming to the topic with simple, neutral summaries of the key ideas and terms. Second, it provides a base “layer” that underpins the evaluative work and the overall sensemaking effort. For example, suppose you want to evaluate the claim that DAOs can help address the climate crisis. To do that you are going to need contextual material about public goods, [free rider problems](../../concepts/free-rider-problem.md) – as well as information on what a DAO is! In addition, this is an area where meanings of key terms are crucial and often [ill-defined](../../claims/well-defined.md) for example what exactly do we mean by “collaboration” or “freedom” (and is our meaning shared)? By providing reference material and common definitions we can ground and inform the debate and avoid “talking past each other”. ![](https://res.cloudinary.com/ds7qslkd0/image/upload/v1647432615/Web3/crypto_for_good_iedlhs.png)