diff --git a/concepts/AMM.md b/concepts/amm.md similarity index 100% rename from concepts/AMM.md rename to concepts/amm.md diff --git a/concepts/bond.md b/concepts/bond.md index e69de29..6d17a0e 100644 --- a/concepts/bond.md +++ b/concepts/bond.md @@ -0,0 +1,3 @@ +# Bond + +A bond is a [security](security.md) financial product that represents a promise by a borrower to pay a lender their principal and periodic interest (called a coupon) on a loan. \ No newline at end of file diff --git a/concepts/cbdc.md b/concepts/cbdc.md index 74d0ff7..15d65dc 100644 --- a/concepts/cbdc.md +++ b/concepts/cbdc.md @@ -1,5 +1,5 @@ # Central Bank Digital Currency -A digital currency issued by a [central-banks](concepts/central-banks.md). +A digital currency issued by a [central-banks](central-banks.md). ## Examples diff --git a/concepts/censorship-resistence.md b/concepts/censorship-resistence.md index 8ba82fd..0ff8ba1 100644 --- a/concepts/censorship-resistence.md +++ b/concepts/censorship-resistence.md @@ -1,2 +1,3 @@ # Censorship Resistance +#todo \ No newline at end of file diff --git a/concepts/central-banks.md b/concepts/central-banks.md index 7b25ec5..b3312b7 100644 --- a/concepts/central-banks.md +++ b/concepts/central-banks.md @@ -1,6 +1,6 @@ # Central Banks -A financial institution that manages the [[currency]] and monetary supply of a nation state. +A financial institution that manages the [currency](currency.md) and monetary supply of a nation state. The mandate of central banks is often to control domestic employment and maintain price stability of a national currency. diff --git a/concepts/crypto-exchange.md b/concepts/crypto-exchange.md index 9fe7001..e87230c 100644 --- a/concepts/crypto-exchange.md +++ b/concepts/crypto-exchange.md @@ -1,4 +1,4 @@ # Crypto Exchanges -A corporate entity that acts as an interemdiary between people to exchange currency for crypto assets. +A corporate entity that acts as an interemdiary between people to exchange currency for [crypto assets](cryptoasset.md) See [market-manipulation](market-manipulation.md). \ No newline at end of file diff --git a/concepts/cryptoasset.md b/concepts/cryptoasset.md index 5ead3e9..29c00c7 100644 --- a/concepts/cryptoasset.md +++ b/concepts/cryptoasset.md @@ -1,15 +1,15 @@ # Crypto Asset -A digital asset that is traded on a [[blockchain]]. +A digital asset that is traded on a [blockchain](blockchain.md). Crypto assets have no [use-value](use-value.md), no [fundamental-value](fundamental-value.md), and no [income-cashflows](income-cashflows.md) and are a pure manifestation of the [greater-fool-theory](greater-fool-theory.md). ## Comparables * Zero-coupon perpetual bond -* Unspendable [currency](concepts/currency.md) -* [equity](concepts/security.md) with no cash flows or dividends -* [commodity](concepts/commodity.md) with no use value +* Unspendable [currency](currency.md) +* [equity](security.md) with no cash flows or dividends +* [commodity](commodity.md) with no use value * Exchange traded pyramid schemes -* [derivative](concepts/derivative.md) contract with no underlying +* [derivative](derivative.md) contract with no underlying * [libertarianism](ideologies/libertarianism.md) performance art diff --git a/concepts/derivative.md b/concepts/derivative.md index 4b0b6e2..89b2486 100644 --- a/concepts/derivative.md +++ b/concepts/derivative.md @@ -1,3 +1,14 @@ # Derivative -#todo \ No newline at end of file +A derivative is a type of financial contract whose value is dependent on an underlying asset, group of assets, or benchmark. + +Underlying assets for derivatives are most often stocks, bonds, commodities, currencies, interest rates, and market indexes. The value of the contract itself depend on changes in the prices of the underlying asset. + +## Examples + +* Futures +* Forwards +* Swaps +* Options +* Interest Rate Swaps +* Credit Default Swaps \ No newline at end of file diff --git a/concepts/DEX.md b/concepts/dex.md similarity index 82% rename from concepts/DEX.md rename to concepts/dex.md index b748662..c156b79 100644 --- a/concepts/DEX.md +++ b/concepts/dex.md @@ -1,6 +1,6 @@ # DEX = Decentralized EXchange -Order-book based but p2p (i.e. without market makers). This contrasts with [[concepts/AMM]] (automated market makers) who don't have an order book. +Order-book based but p2p (i.e. without market makers). This contrasts with [[amm]] (automated market makers) who don't have an order book. ## Limitations diff --git a/concepts/gambling.md b/concepts/gambling.md index e5c59fa..a8b053e 100644 --- a/concepts/gambling.md +++ b/concepts/gambling.md @@ -1,4 +1,4 @@ # Gambling -An economic activity in which one party pays for the privilege of risking money on a probabilistic activity with negative [expected-return](concepts/expected-return.md). Often gambling games are [negative-sum](claims/negative-sum.md). +An economic activity in which one party pays for the privilege of risking money on a probabilistic activity with negative [expected-return](expected-return.md). Often gambling games are [negative-sum](zero-sum-game.md). -Trading crypto assets is often compared to gambling. \ No newline at end of file +Trading [crypto assets](cryptoasset.md) is often compared to gambling. \ No newline at end of file diff --git a/concepts/greater-fool-theory.md b/concepts/greater-fool-theory.md index 20eff1c..7a3e4f9 100644 --- a/concepts/greater-fool-theory.md +++ b/concepts/greater-fool-theory.md @@ -1,2 +1,5 @@ # Greater Fool Theory +The greater fool theory is a thesis in economics that market participants can sometimes profit from the purchase of overvalued assets ,  assets whose [market-value](market-value.md) drastically exceeding their [fundamental-value](fundamental-value.md) ,  if those assets can later be resold at an even higher price to another market participant who makes the same assumption and so on ad infinitum. + +The greater fool theory presumes an infinite chain of fools in order for all participants to "make it" or profit from the [bubble](bubble.md). \ No newline at end of file diff --git a/concepts/high-control-group.md b/concepts/high-control-group.md new file mode 100644 index 0000000..ce178b9 --- /dev/null +++ b/concepts/high-control-group.md @@ -0,0 +1,2 @@ +# High Control Group + diff --git a/concepts/ico.md b/concepts/ico.md index 89815a2..0681a4b 100644 --- a/concepts/ico.md +++ b/concepts/ico.md @@ -1,6 +1,6 @@ # Initial Coin Offerings -Initial coin offerings are proxy [equity](security.md) fundraising structure that allows enterpeuers to raise crypto assets in a common enterprise outside of existing securities regulation. +Initial coin offerings are proxy [equity](security.md) fundraising structure that allows entrepeneurs to raise crypto assets in a common enterprise outside of existing securities regulation. Initial coin offerings are an exammple of [regulatory-arbitrage](regulatory-arbitrage.md) of [security](security.md) regulation. Initial coin offerings are illegal in the United States. diff --git a/concepts/leverage.md b/concepts/leverage.md index f497352..cb5a0bb 100644 --- a/concepts/leverage.md +++ b/concepts/leverage.md @@ -1,3 +1,3 @@ # Leverage -#todo \ No newline at end of file +Leverage refers to the use of debt to increase the size of a position in an investment. \ No newline at end of file diff --git a/concepts/mining.md b/concepts/mining.md index d5216dd..ec6ff76 100644 --- a/concepts/mining.md +++ b/concepts/mining.md @@ -1,2 +1,4 @@ # Mining -The technical process of \ No newline at end of file +The technical process of confirming transactions in a [blockchain](blockchain.md) using the proof of work [consensus-algorithm](consensus-algorithm.md). Mining is typically centralized by companies known as mining pools which pool physical compute resources in order to increase their probability of confirming blocks. + +Mining is an energy intensive process with a large environmental footprint. \ No newline at end of file diff --git a/concepts/nft.md b/concepts/nft.md index 2c8c6b6..6da19e9 100644 --- a/concepts/nft.md +++ b/concepts/nft.md @@ -1,7 +1,9 @@ # Non Fungible Token -A type of [smart-contracts](smart-contracts.md) that associates a tradable [cryptoasset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or perceived notion of ownership in art or [sign-value](concepts/sign-value.md) +A type of [smart-contracts](smart-contracts.md) that associates a tradable [cryptoasset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or perceived notion of ownership in art or [sign-value](sign-value.md) ## Tinkerbell Effect -* [@diehl_tinkerbell_2021] \ No newline at end of file +* [@bodo_rise_2022] +* [@diehl_tinkerbell_2021] +* [@olson_line_2022] \ No newline at end of file diff --git a/concepts/ponzi-scheme.md b/concepts/ponzi-scheme.md index cd5afd8..e407807 100644 --- a/concepts/ponzi-scheme.md +++ b/concepts/ponzi-scheme.md @@ -2,8 +2,8 @@ A type of investment fraud in which old investors are paid out from an influx of new investors. These type of schemes are ultimately unsustainable and are destined to collapse when outflows exceed inflows or the operators abscond with the funds. -Economists often refer to [cryptoasset](cryptoasset.md) as obscured Ponzi schemes. - +Economists often refer to [crypto asset](cryptoasset.md) as obscured Ponzi schemes. +s ## References * [@krugman_bitcoin_2018] diff --git a/concepts/present-value.md b/concepts/present-value.md index 6d44aa5..697338f 100644 --- a/concepts/present-value.md +++ b/concepts/present-value.md @@ -1,2 +1,3 @@ # Present Value +The value of an expected income stream determined as of the date of valuation. \ No newline at end of file diff --git a/concepts/private-money.md b/concepts/private-money.md index 84d1ddb..03103da 100644 --- a/concepts/private-money.md +++ b/concepts/private-money.md @@ -12,4 +12,5 @@ A [currency](concepts/currency.md) issued by a private party instead of a nation ## References -* \ No newline at end of file +* [@gorton_taming_2021] +* [@hockett_moneys_2019] \ No newline at end of file diff --git a/concepts/ransomware.md b/concepts/ransomware.md index 5aef5d2..6972c5e 100644 --- a/concepts/ransomware.md +++ b/concepts/ransomware.md @@ -1,2 +1,2 @@ # Ransomware -A form of crime involving hijacking of computer systems by which to demand ransoms to be paid to the attacker in the form of [cryptoasset](cryptoasset.md). \ No newline at end of file +A form of crime involving hijacking of computer systems by which to demand ransoms to be paid to the attacker in the form of [crypto asset](cryptoasset.md). \ No newline at end of file diff --git a/concepts/regulatory-arbitrage.md b/concepts/regulatory-arbitrage.md new file mode 100644 index 0000000..1f5e7aa --- /dev/null +++ b/concepts/regulatory-arbitrage.md @@ -0,0 +1 @@ +# Regulatory Arbitrage diff --git a/concepts/regulatory-capture.md b/concepts/regulatory-capture.md new file mode 100644 index 0000000..7f2453b --- /dev/null +++ b/concepts/regulatory-capture.md @@ -0,0 +1 @@ +# Regulatory Capture diff --git a/concepts/security.md b/concepts/security.md index bfbe833..bebe92b 100644 --- a/concepts/security.md +++ b/concepts/security.md @@ -1,7 +1,8 @@ # Securites -A legal framework in which counterparties to a country are given time-varying rights to [income-cashflows](concepts/income-cashflows.md) according to a contractual agreement. +A legal framework in which counterparties to a country are given time-varying rights to [income-cashflows](income-cashflows.md) according to a contractual agreement. ## Examples -* [stock](concepts/stock.md) -* [derivative](concepts/derivative.md) \ No newline at end of file +* [stock](stock.md) +* [bond](bond.md) +* [derivative](derivative.md) \ No newline at end of file diff --git a/concepts/shadow-bank.md b/concepts/shadow-bank.md index 3a016b3..02dfbb5 100644 --- a/concepts/shadow-bank.md +++ b/concepts/shadow-bank.md @@ -1,3 +1,3 @@ # Shadow Bank -A shadow banking system refers to the unregulated financial intermediaries that facilitate the creation of credit across the global financial system. \ No newline at end of file +A shadow banking system refers to a network of unregulated financial intermediaries that facilitate the creation of credit across the global financial system outside of the normal banking system. \ No newline at end of file diff --git a/concepts/sign-value.md b/concepts/sign-value.md index 981aa2e..8bb6dd6 100644 --- a/concepts/sign-value.md +++ b/concepts/sign-value.md @@ -1,4 +1,3 @@ # Sign Value -Sign value denotes and describes the value accorded to an object because of the prestige or social status that it imparts upon the possessor, rather than the [use-value](concepts/use-value.md) and [income-cashflows](concepts/income-cashflows.md) derived from the function or use of the asset. - +Sign value denotes and describes the value accorded to an object because of the prestige or social status that it imparts upon the possessor, rather than the [use-value](use-value.md) and [income-cashflows](income-cashflows.md) derived from the function or use of the asset. \ No newline at end of file diff --git a/concepts/smart-contracts.md b/concepts/smart-contracts.md index 7a080e1..c8615b1 100644 --- a/concepts/smart-contracts.md +++ b/concepts/smart-contracts.md @@ -5,6 +5,6 @@ A unit of programmable logic that is stored on a [blockchain](blockchain.md) and * [dao](dao.md) * [ico](ico.md) -* [AMM](concepts/AMM.md) -* [DEX](concepts/DEX.md) +* [amm](amm.md) +* [dex](dex.md) * ERC20 \ No newline at end of file diff --git a/concepts/speculation.md b/concepts/speculation.md index 2b6ca40..a8bde13 100644 --- a/concepts/speculation.md +++ b/concepts/speculation.md @@ -1,2 +1,3 @@ # Speculation +Speculation is the taking of a position on an asset with the hope that it will become more valuable on a short time horizon. Speculators often care little for the [fundamental-value](fundamental-value.md) of the asset and instead focus purely on short-term price movements, sentiment and momentum. \ No newline at end of file diff --git a/dao/uniswap.org.md b/dao/uniswap.org.md index 8ddfc7b..7bda7be 100644 --- a/dao/uniswap.org.md +++ b/dao/uniswap.org.md @@ -1,6 +1,6 @@ # Uniswap -Original and one of the largest [[concepts/AMM|Automated Market Maker]]s. +Original and one of the largest [[../concepts/amm|Automated Market Maker]]s. ![](Pasted%20image%2020220130012621.png) diff --git a/ideologies/austrian-economics.md b/ideologies/austrian-economics.md index 88f9ab5..759bd77 100644 --- a/ideologies/austrian-economics.md +++ b/ideologies/austrian-economics.md @@ -2,9 +2,9 @@ A heterodox school of economics that attempts to reason about human behaviour from first principles and deductive reasoning instead of quantitative analysis. Popular in the early 20th century but largely rejected by the modern academy. -This school of thought has seen a resurgence in relation to cryptocurrency. +This school of thought has seen a resurgence in relation to [crypto assets](../concepts/cryptoasset.md). -Often resonates with advocacy for the [gold-standard](gold-standard.md) and [libertarianism](libertarianism.md). +Often resonates with advocacy for the [gold-standard](../concepts/gold-standard.md) and [libertarianism](libertarianism.md). ## Prominent Thinkers