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Contextual citations for all episode notes

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claims/digital-gold.md
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@ -8,10 +8,10 @@ Bitcoin has no historical track record of being a store of value and lacks the m
Even if bitcoin could function as a new gold standard. The [gold-standard](../concepts/gold-standard.md) and the notion of [sound-money](../concepts/sound-money.md) are undesirable foundations for a [currency](../concepts/currency.md) and were subject to extreme shocks and deflationary spirals, and as such were abandoned in the mid 20th century in favour of the [central-banks](../concepts/central-banks.md) and fiat monetary system.
## References
1. Cembalest, M. (2022). The Maltese Falcoin: On Cryptocurrencies and Blockchains (p. 31).
1. Allon, F. (2018). Money after Blockchain: Gold, Decentralised Politics and the New Libertarianism. Australian Feminist Studies, 33(96), 223–243. https://doi.org/10.1080/08164649.2018.1517245
1. Bernanke, B. S. (2004). Essays on the Great Depression. Princeton University Press.
1. Caferra, R., Tedeschi, G., & Morone, A. (2021). Bitcoin: Bubble that bursts or Gold that glitters? Economics Letters, 205, 109942. https://doi.org/10.1016/j.econlet.2021.109942
1. Doctorow, C. (2022, February 3). Pluralistic: 03 Feb 2022 – Pluralistic: Daily links from Cory Doctorow. https://pluralistic.net/2022/02/03/liquidation-preference/
1. Selmi, R., Bouoiyour, J., & Wohar, M. E. (2022). “Digital Gold” and geopolitics. Research in International Business and Finance, 59, 101512. https://doi.org/10.1016/j.ribaf.2021.101512
1. Cembalest, M. (2022). The Maltese Falcoin: On Cryptocurrencies and Blockchains (p. 31).
1. Wang, G., Tang, Y., Xie, C., & Chen, S. (2019). Is bitcoin a safe haven or a hedging asset? Evidence from China. Journal of Management Science and Engineering, 4(3), 173–188. https://doi.org/10.1016/j.jmse.2019.09.001

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concepts/amm.md
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@ -46,7 +46,6 @@ Uniswap is iterating to favor "professional players":
> However, with this additional layer of complexity, “lazy” LPs are going to earn much less in trading fees than professional players who can constantly keep optimizing their strategy.
## References
1. Allen, Hilary J. 2022. ‘DeFi: Shadow Banking 2.0?’ William & Mary Law Review, Forthcoming.
1. 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.
1. Anker-Sørensen, Linn, and Dirk A Zetzsche. 2021. ‘From Centralized to Decentralized Finance: The Issue Of’. Available at SSRN 3978815. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3978815.

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# Decentralized Exchange
A form of [market making](market-maker.md) done via a [smart-contracts](smart-contracts.md). In this setup the [order-book](order-book.md) is based on peer-to-peer transactions instead of through a central party like a [crypto-exchange](crypto-exchange.md). This contrasts with [AMM](AMM.md) (automated market makers) who don't have an [order book](order-book.md) and instead use [liquidity pools](liquidity-pool.md).
A form of [market making](market-maker.md) done via a [smart-contracts](smart-contracts.md). In this setup the [order-book](order-book.md) is based on peer-to-peer transactions instead of through a central party like a [crypto exchange](crypto-exchange.md). This contrasts with [AMM](AMM.md) (automated market makers) who don't have an [order book](order-book.md) and instead use [liquidity pools](liquidity-pool.md).
Decentralized exchanges lack the ability to withdraw currencies like [dollar](dollar.md) and Euros because they have no access to the [banking](bank.md) system to issue payments.

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# Market Manipulation
Manipulation of [price-formation](price-formation.md) and the natural operation of a [market](market.md). Can be performed by both [market makers](market-maker.md) and [cartels](cartel.md).
Manipulation of [price formation](price-formation.md) and the natural operation of a [market](market.md). Can be performed by both [market makers](market-maker.md) and [cartels](cartel.md).
## Front Running
Using inside information about future orders to preempt market movements and extract from other market participants.
@ -11,7 +11,7 @@ See [asymmetric-information](asymmetric-information.md).
See [wash-trading](wash-trading.md).
## Pump and Dumps
See [pump-and-dump](pump-and-dump.md).
See [pump and dump](pump-and-dump.md).
## Order Tampering
Altering of [order-book](order-book.md) to privilege the market maker or a [cartel](cartel.md) of insiders.
@ -26,7 +26,7 @@ Discretionary restriction of the sale of assets for [currency](currency.md).
1. Lefevre, Edwin. 2004. Reminiscences of a Stock Operator. Vol. 175. John Wiley & Sons.
1. Dhawan, Anirudh, and Talis J. Putnins. 2020. ‘A New Wolf in Town? Pump-and-Dump Manipulation in Cryptocurrency Markets’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3670714.
1. Hamrick, JT, Farhang Rouhi, Arghya Mukherjee, Amir Feder, Neil Gandal, Tyler Moore, and Marie Vasek. 2018a. ‘An Examination of the Cryptocurrency Pump and Dump Ecosystem’. http://ssrn.com/paper=3303365.
1. *———. 2018b. ‘The Economics of Cryptocurrency Pump and Dump Schemes’.
1. ———. 2018b. ‘The Economics of Cryptocurrency Pump and Dump Schemes’.
1. Kamps, Josh, and Bennett Kleinberg. 2018. ‘To the Moon: Defining and Detecting Cryptocurrency Pump-and-Dumps’. Crime Science 7 (1): 18.
1. Lefevre, Edwin. 2004. Reminiscences of a Stock Operator. Vol. 175. John Wiley & Sons.
1. Li, Tao, Donghwa Shin, and Baolian Wang. 2019. ‘Cryptocurrency Pump-and-Dump Schemes’. Available at SSRN 3267041.

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# Intercitations TODO
Concepts
- [ ] [web3](../concepts/web3.md)
- [ ] [cryptoasset](../concepts/cryptoasset.md)
- [ ] [nft](../concepts/nft.md)
- [ ] [money](../concepts/money.md)
- [ ] [private-money](../concepts/private-money.md)
- [ ] [gold-standard](../concepts/gold-standard.md)
- [ ] [post-state-technocracy](../notes/post-state-technocracy.md)
- [ ] [security](../concepts/security.md)
- [ ] [crypto-exchange](../concepts/crypto-exchange.md)
Claims
- [ ] [is-bitcoin-currency](../claims/is-bitcoin-currency.md)
- [ ] [blockchain-tech](../claims/blockchain-tech.md)
- [ ] [weird-culture](../claims/weird-culture.md)
- [ ] [well-defined](../claims/well-defined.md)

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notes/market-fundamentalism.md
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@ -158,12 +158,27 @@ Rufus and Stephen end their conversation with an analysis of the market fundamen
* [regulatory-arbitrage](../concepts/regulatory-arbitrage.md)
* [speculation](../concepts/speculation.md)
* [stock](../concepts/stock.md)
* [stablecoin](../concepts/stablecoin.md)
* [valuation-model](../claims/valuation-model.md)
* [wash-trading](../concepts/wash-trading.md)
* [zero-sum-game](../concepts/zero-sum-game.md)
## References
1. [@akerlof_market_1978]
2. [@krugman_technobabble_2021]
3. [@krugman_transaction_2018]
4. [@griffin_is_2020]
1. Janeway, William H. Doing capitalism in the innovation economy: Markets, speculation and the state. Cambridge University Press, 2012.
1. Fama, Eugene F. "Efficient capital markets: A review of theory and empirical work." The journal of Finance 25, no. 2 (1970): 383-417.
1. Akerlof, George A. "The market for “lemons”: Quality uncertainty and the market mechanism." In Uncertainty in economics, pp. 235-251. Academic Press, 1978.
1. Hart, Oliver, and Bengt Holmström. "The theory of contracts." In Advances in economic theory: Fifth world congress, vol. 1. 1987.
1. Fama, Eugene F., and Kenneth R. French. "Size, value, and momentum in international stock returns." Journal of financial economics 105, no. 3 (2012): 457-472.
1. Jarrow, Robert A. "Market manipulation, bubbles, corners, and short squeezes." Journal of financial and Quantitative Analysis 27, no. 3 (1992): 311-336.
1. Friedman, Milton. "The social responsibility of business is to increase its profits." In Corporate ethics and corporate governance, pp. 173-178. Springer, Berlin, Heidelberg, 2007.
1. Lefevre, Edwin. 2004. Reminiscences of a Stock Operator. Vol. 175. John Wiley & Sons.
1. Dhawan, Anirudh, and Talis J. Putnins. 2020. ‘A New Wolf in Town? Pump-and-Dump Manipulation in Cryptocurrency Markets’. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3670714.
1. Hamrick, JT, Farhang Rouhi, Arghya Mukherjee, Amir Feder, Neil Gandal, Tyler Moore, and Marie Vasek. 2018a. ‘An Examination of the Cryptocurrency Pump and Dump Ecosystem’. http://ssrn.com/paper=3303365.
1. ———. 2018b. ‘The Economics of Cryptocurrency Pump and Dump Schemes’.
1. Kamps, Josh, and Bennett Kleinberg. 2018. ‘To the Moon: Defining and Detecting Cryptocurrency Pump-and-Dumps’. Crime Science 7 (1): 18.
1. Lefevre, Edwin. 2004. Reminiscences of a Stock Operator. Vol. 175. John Wiley & Sons.
1. Li, Tao, Donghwa Shin, and Baolian Wang. 2019. ‘Cryptocurrency Pump-and-Dump Schemes’. Available at SSRN 3267041.
1. Xu, Jiahua, and Benjamin Livshits. 2019. ‘The Anatomy of a Cryptocurrency Pump-and-Dump Scheme’. In 28th USENIX Security Symposium, 1609–25.
1. Krugman, Paul. 2018. ‘Transaction Costs and Tethers: Why I’m a Crypto Skeptic’. The New York Times 21.
1. Castor, Amy. 2021. ‘The Curious Case of Tether: A Complete Timeline of Events’. https://amycastor.com/2019/01/17/the-curious-case-of-tether-a-complete-timeline-of-events/.
1. Griffin, John M, and Amin Shams. 2020. ‘Is Bitcoin Really Untethered?’ The Journal of Finance 75 (4): 1913–64.

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notes/neo-metallism.md
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@ -131,10 +131,6 @@ Bitcoin is Better
* Aside from its impacts on Bitcoin’s potential as a gold substitute, the issue of trust has serious ramifications for how we govern our societies.
## Concepts Covered
* [gold-standard](../concepts/gold-standard.md)
@ -156,10 +152,19 @@ Bitcoin is Better
* [zero-sum-game](../concepts/zero-sum-game.md)
## References
1. [@taleb_bitcoin_2021-1]
2. [@arnosti_bitcoin_2022]
3. [@golumbia_bitcoin_2015]
4. [@caferra_bitcoin_2021]
5. [@qin_bitcoins_2020]
6. [@bernanke_essays_2004]
1. Bemanke, Ben, and Harold James. 1991. ‘The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison’. In Financial Markets and Financial Crises, 33–68. University of Chicago Press. https://www.nber.org/books-and-chapters/financial-markets-and-financial-crises/gold-standard-deflation-and-financial-crisis-great-depression-international-comparison.
1. Bernanke, B. S. (2004). Essays on the Great Depression. Princeton University Press.
1. Eich, Stefan. 2018. ‘The Currency of Politics’. The Political Theory of Money from Aristotle to Keynes.
1. Green, Russell A. "Gold Standard or Fool’s Gold? Should the US Consider Returning to the Gold Standard?." Issue Brief 02.23. 16 (2016).
1. Ammous, Saifedean. 2018. The Bitcoin Standard: The Decentralized Alternative to Central Banking. Hoboken, New Jersey: Wiley.
1. Sanz Bas, David. 2020. ‘Hayek and the Cryptocurrency Revolution’. Iberian Journal of the History of Economic Thought 7 (1): 15–28. https://doi.org/10.5209/ijhe.69403.
1. Friedrich, Carl J. "The Road to Serfdom." (1945): 575-579.
1. Selmi, R., Bouoiyour, J., & Wohar, M. E. (2022). “Digital Gold” and geopolitics. Research in International Business and Finance, 59, 101512. https://doi.org/10.1016/j.ribaf.2021.101512
1. Krugman, Paul. "The hangover theory." Slate. December 3 (1998).
1. Krugman, Paul (7 April 2010). "The Conscience of a Liberal: Martin And The Austrians". The New York Times. Archived from the original on 23 September 2011.
1. Allon, F. (2018). Money after Blockchain: Gold, Decentralised Politics and the New Libertarianism. Australian Feminist Studies, 33(96), 223–243. https://doi.org/10.1080/08164649.2018.1517245
1. Caferra, R., Tedeschi, G., & Morone, A. (2021). Bitcoin: Bubble that bursts or Gold that glitters? Economics Letters, 205, 109942. https://doi.org/10.1016/j.econlet.2021.109942
1. Wang, G., Tang, Y., Xie, C., & Chen, S. (2019). Is bitcoin a safe haven or a hedging asset? Evidence from China. Journal of Management Science and Engineering, 4(3), 173–188. https://doi.org/10.1016/j.jmse.2019.09.001
1. Caferra, Rocco, Gabriele Tedeschi, and Andrea Morone. 2021. ‘Bitcoin: Bubble That Bursts or Gold That Glitters?’ Economics Letters 205: 109942. https://doi.org/10.1016/j.econlet.2021.109942.
1. Wolf, Martin. 2019. ‘The Libertarian Fantasies of Cryptocurrencies’. Financial Times, February. https://www.ft.com/content/eeeacd7c-2e0e-11e9-ba00-0251022932c8.
1. Fantacci, Luca. 2019. ‘Cryptocurrencies and the Denationalization of Money’. International Journal of Political Economy 48 (2): 105–26. https://doi.org/10.1080/08911916.2019.1624319.