From 50a167f8345a095e90d28d2824d511febe359933 Mon Sep 17 00:00:00 2001 From: sdiehl Date: Fri, 18 Mar 2022 07:24:29 +0000 Subject: [PATCH] Update concepts --- claims/crypto-unbanked.md | 2 +- claims/{new-gold.md => digital-gold.md} | 0 claims/is-bubble.md | 23 +++++ claims/legality.md | 2 +- claims/negative-sum.md | 6 +- claims/weird-culture.md | 4 +- claims/well-defined.md | 1 + claims/what-type-of-asset.md | 3 +- concepts/art.md | 3 +- concepts/artificial-scarcity.md | 7 +- concepts/assets.md | 5 +- concepts/atomic-swap.md | 1 + concepts/bandwagon-bias.md | 4 + concepts/bank.md | 5 ++ concepts/bearer-instrument.md | 2 + concepts/bitcoin.md | 12 +-- concepts/bubble.md | 7 +- concepts/cartel.md | 2 +- concepts/cbdc.md | 2 +- concepts/dogecoin.md | 24 ++--- concepts/endowment-effect.md | 1 + concepts/ethereum.md | 12 +-- concepts/ficticious-commodity.md | 1 + concepts/free-rider-problem.md | 2 +- concepts/howey-test.md | 8 ++ concepts/ideologies/cryptoanarchism.md | 1 + concepts/ideologies/financial-nihilism.md | 2 +- concepts/ideologies/inevitablism.md | 1 + concepts/ideologies/keynsian-economics.md | 2 +- concepts/ideologies/market-fundamentalism.md | 2 +- concepts/ideologies/techno-collectivism.md | 2 +- concepts/immutability.md | 1 + concepts/liquidity.md | 3 +- concepts/madness-crowds.md | 1 + concepts/market-mania.md | 1 + concepts/memecoin.md | 4 + concepts/money.md | 16 ++-- concepts/nft.md | 7 ++ concepts/non-economic.md | 4 + concepts/paper-wealth.md | 4 + concepts/predatory-inclusion.md | 2 + concepts/private-key.md | 3 +- concepts/pseudonymous.md | 1 + concepts/pump-and-dump.md | 1 - concepts/reserve-currency.md | 7 ++ concepts/sanctions-enforcement.md | 1 + concepts/security.md | 2 +- concepts/shadow-bank.md | 2 +- concepts/stock.md | 1 - concepts/systemic-risk.md | 1 - concepts/thought-terminating-cliches.md | 7 +- concepts/tinkerbell-effect.md | 1 + concepts/value.md | 2 +- concepts/wallet.md | 2 +- guide/index.md | 92 ++++++++++++-------- meta/concepts-todo.md | 43 ++++++++- notes/neo-metallism.md | 2 +- notes/recent-events.md | 33 ++++++- site/pages/contribute.md | 2 +- site/pages/library.md | 3 +- 60 files changed, 289 insertions(+), 109 deletions(-) rename claims/{new-gold.md => digital-gold.md} (100%) create mode 100644 claims/well-defined.md create mode 100644 concepts/atomic-swap.md create mode 100644 concepts/bandwagon-bias.md create mode 100644 concepts/endowment-effect.md create mode 100644 concepts/ficticious-commodity.md create mode 100644 concepts/howey-test.md create mode 100644 concepts/ideologies/cryptoanarchism.md create mode 100644 concepts/ideologies/inevitablism.md create mode 100644 concepts/immutability.md create mode 100644 concepts/madness-crowds.md create mode 100644 concepts/market-mania.md create mode 100644 concepts/memecoin.md create mode 100644 concepts/non-economic.md create mode 100644 concepts/paper-wealth.md create mode 100644 concepts/predatory-inclusion.md create mode 100644 concepts/pseudonymous.md create mode 100644 concepts/sanctions-enforcement.md create mode 100644 concepts/tinkerbell-effect.md diff --git a/claims/crypto-unbanked.md b/claims/crypto-unbanked.md index 8669c80..5ac8401 100644 --- a/claims/crypto-unbanked.md +++ b/claims/crypto-unbanked.md @@ -4,4 +4,4 @@ Crypto is not a solution to unbanked, because by its [deflationary](../concepts/ The purpose of retail banking services is to provide stable, reliable and safe means for citizens to transact with money that is safely custodied by a trusted third party with the guarantees of regulation by the government that the party will hold their accounts on their behalf. This includes practices like customer service, deposit insurance, fraud detection, transaction reversal and issuing of payment cards. -[Crypto exchanges](../concepts/crypto-exchange.md) cannot function as banks because the do not custody customer deposits and have no deposit insurance. This pushes unnecessary counterparty risk down to consumers and in the event of fraud, insolvency or market shocks customers may be left with no access to their "deposits". This is an unnecessary risk that is strictly worse than traditional banking products. \ No newline at end of file +[Crypto exchanges](../concepts/crypto-exchange.md) cannot function as banks because the do not custody customer deposits and have no deposit insurance. This pushes unnecessary counterparty risk down to consumers and in the event of fraud, insolvency or market shocks customers may be left with no access to their "deposits". This is an unnecessary risk that is strictly worse than traditional banking products and is a form of [predatory inclusion](../concepts/predatory-inclusion.md) with parallels to predatory lending done during the subprime mortgage crisis. \ No newline at end of file diff --git a/claims/new-gold.md b/claims/digital-gold.md similarity index 100% rename from claims/new-gold.md rename to claims/digital-gold.md diff --git a/claims/is-bubble.md b/claims/is-bubble.md index b7ae5b7..76341c5 100644 --- a/claims/is-bubble.md +++ b/claims/is-bubble.md @@ -1 +1,24 @@ # Crypto assets are a bubble +Crypto assets have the characterstic price behaviour that resembles many other [bubbles](../concepts/bubble.md) and [market manias](../concepts/madness-crowds.md) throughout history. Bitcoin has been characterised as a [speculative](../concepts/speculation.md) bubble by eight winners of the Nobel Prize in economics. + +* Paul Krugman +* Robert J. Shiller +* Joseph Stiglitz +* Richard Thaler +* James Heckman +* Thomas Sargent, +* Angus Deaton +* Oliver Hart + +And by central bank officials: + +* Alan Greenspan +* Agustín Carstens, +* Vítor Constâncio, +* Nout Wellink +* Mark Carney + +And several notable investors have also described it as a bubble: + +* Warren Buffet +* George Soros \ No newline at end of file diff --git a/claims/legality.md b/claims/legality.md index 968cdf0..b8146ce 100644 --- a/claims/legality.md +++ b/claims/legality.md @@ -1,2 +1,2 @@ -# Crypto assets are legal +# Legality of crypto assets Crypto assets are unlicensed [security](../concepts/security.md) contracts for unregulated [speculative](../concepts/speculation.md) investments. The legality of this depends on jurisdiction. \ No newline at end of file diff --git a/claims/negative-sum.md b/claims/negative-sum.md index 2b7b239..310f648 100644 --- a/claims/negative-sum.md +++ b/claims/negative-sum.md @@ -3,8 +3,8 @@ Investing in crypto assets is a [negative sum game](../concepts/zero-sum-game.md Since crypto assets are [investments](../concepts/security.md) the purpose of buying a crypto asset is to buy it at a lower price and sell it at a higher price to generate a return denominated in a [real currency](../concepts/currency.md). However as an investment crypto assets have no [income-cashflows](../concepts/income-cashflows.md) therefore the only money that exists to pay out investors is money that is brought in by later investors. This makes the entire scheme a [zero sum game](../concepts/zero-sum-game.md). All money won by [speculation](../concepts/speculation.md) is ultimately money that is equally lost by another participant. -This is comparable to the analogy of a game of poker and other [gambling](../concepts/gambling.md) games The only money that can be won in a poker game "pot" provided by the players of the card game. The act of playing poker does not generate any money, it simply redistributes to participants according to a game of chance. If the "house" or casino takes a percentage of the pot on every round of the game played then the size of the pot must decrease over time. This turns the zero-sum game into a negative-sum game which admits a negative [expected return](../concepts/expected-return.md). +This is comparable to the analogy of a game of poker and other [gambling](../concepts/gambling.md) games The only money that can be won in a poker game "pot" provided by the players of the card game. The act of playing poker does not generate any money, it simply redistributes to participants according to a game of chance. If the "house" or casino takes a percentage of the pot on every round of the game played then the size of the pot must decrease over time. This turns the zero-sum game into a negative-sum game which admits a negative [expected return](../concepts/expected-return.md). See also the [greater fool theory](../concepts/greater-fool-theory.md). -Investing in crypto assets is statistically guaranteed to lose money for almost all market participants because as investments they have no [income-cashflows](../concepts/income-cashflows.md). This differs drastically from [productive-asset](../concepts/productive-asset.md) such as [stocks](../concepts/stock.md) and [bonds](../concepts/bond.md). +Investing in crypto assets is statistically guaranteed to lose money for almost all market participants because as investments they have no [income-cashflows](../concepts/income-cashflows.md). This differs drastically from [productive assets](../concepts/productive-asset.md) such as [stocks](../concepts/stock.md) ,[bonds](../concepts/bond.md) and [real-estate](../concepts/real-estate.md). -See [assets](../concepts/assets.md) comparison chart for comparison of crypto assets to productive asset. \ No newline at end of file +See [assets](../concepts/assets.md) comparison chart for comparison of crypto assets to conventional investments. \ No newline at end of file diff --git a/claims/weird-culture.md b/claims/weird-culture.md index 33e6832..0e7c576 100644 --- a/claims/weird-culture.md +++ b/claims/weird-culture.md @@ -1,7 +1,7 @@ # Crypto has a weird subculture -Crypto currency is an example of a self-organizing [high control group](../concepts/high-control-group.md) whose existence organically creates a market mania, [bubble](../concepts/bubble.md) and [narrative economics](../concepts/narrative-economics.md) that entices the public to invest in the asset class or join the group and its subculture. +Crypto subculture is an example of a self-organizing [high control group](../concepts/high-control-group.md) whose existence organically creates a market mania, [bubble](../concepts/bubble.md) and [narrative economics](../concepts/narrative-economics.md) that entices the public to invest in the asset class or join the group and its subculture. -Since the asset class is [non-productive](../concepts/productive-asset.md) and [negative-sum](negative-sum.md) the crypto scheme depends largely on narratives of "money for nothing" and "easy wealth" that clash with traditional readings of [economics](../concepts/ideologies/keynsian-economics.md). These schemes may depend on [technosolutionism](../concepts/ideologies/technosolutionism.md) or [libertarianism](../concepts/ideologies/libertarianism.md) to justify bringing more [greater fools](../concepts/greater-fool-theory.md) into the scheme. +Since the asset class is [non-productive](../concepts/productive-asset.md) and [negative-sum](negative-sum.md) the crypto scheme entirely depends on attracting new investor inflows based on narratives of "money for nothing" and "easy wealth" that clash with traditional readings of [economics](../concepts/ideologies/keynsian-economics.md). These schemes may also depend on [technosolutionism](../concepts/ideologies/technosolutionism.md) or [libertarianism](../concepts/ideologies/libertarianism.md) to justify bringing more [greater fools](../concepts/greater-fool-theory.md) into the scheme. Crypto culture depends heavily on a distortion of language to signify belonging to an ingroup and leans heavily on [thought terminating cliches](../concepts/thought-terminating-cliches.md) to quell dissent or rational discourse. diff --git a/claims/well-defined.md b/claims/well-defined.md new file mode 100644 index 0000000..6169ca9 --- /dev/null +++ b/claims/well-defined.md @@ -0,0 +1 @@ +# Is web3 a well-defined term? \ No newline at end of file diff --git a/claims/what-type-of-asset.md b/claims/what-type-of-asset.md index ab07967..7fc8381 100644 --- a/claims/what-type-of-asset.md +++ b/claims/what-type-of-asset.md @@ -1,6 +1,5 @@ # What type of assets are crypto token? - -Crypto assets are [securities](../concepts/security.md) contracts. +Crypto assets are [securities](../concepts/security.md) contracts for [speculative](../concepts/speculation.md) investments. See the [assets](../concepts/assets.md) comparison chart for an overview of how crypto asset compare to traditional investments and currencies. diff --git a/concepts/art.md b/concepts/art.md index 45d5777..280c32c 100644 --- a/concepts/art.md +++ b/concepts/art.md @@ -1,6 +1,5 @@ # Art - -Art is an asset class which encompass a broad category of human activities that are done with "artistic intent". This is a philosophically ambiguous category but generally corresponds to activities which are stimulating because of their aesthetic, intellectual or emotional qualities. +Art is an asset class which encompass a broad category of human activities and artefacts that are done with "artistic intent". This is a philosophically ambiguous category but generally corresponds to activities which are stimulating because of their aesthetic, intellectual or emotional qualities. Art is a [non-productive asset](productive-asset.md). diff --git a/concepts/artificial-scarcity.md b/concepts/artificial-scarcity.md index 10b8cb7..7f9669b 100644 --- a/concepts/artificial-scarcity.md +++ b/concepts/artificial-scarcity.md @@ -1,8 +1,9 @@ # Artificial Scarcity -The abstract notion of creating an asset which has no physicality or underlying and whose demand curve is not generated by [use-value](use-value.md) or [income-cashflows](income-cashflows.md). +The abstract notion of creating an asset whose supply is artificially determined and set by the issuer instead of by its physicality or underlying whose demand curve would be generated by a [use value](use-value.md) or [income cashflows](income-cashflows.md). + +Products like [crypto asset](cryptoasset.md), [NFTs](nft.md) and sometimes [art](art.md) are artificially scarce. Financial instruments like bonds, stocks and derivatives are not artificially scarce because of their underlying cashflows. Commodities are not artificially scarce because of their physicality and intrinsic value. -Products like [crypto asset](cryptoasset.md) and [nft](nft.md) are artificially scarce. - +There is an infinite number of non-physical artificially scare assets that can be created, thus leading to a paradox where unless demand is also infinite their [market value](market-value.md) should trend towards zero. \ No newline at end of file diff --git a/concepts/assets.md b/concepts/assets.md index 252e660..db8fe50 100644 --- a/concepts/assets.md +++ b/concepts/assets.md @@ -8,8 +8,11 @@ Comparison of different asset classes. | Currency | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | Stock | ❌ | ❌ | ❌ | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | Bond | ❌ | ❌ | ❌ | ✔️ | ✔️ | ❌ | ✔️ | ❌ +| Art | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ✔️ +| Gold | ❌ | ✔ | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ +| Commodity | ❌ | * | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ +| Real Estate| ❌ | ❌ | ❌ | ❌ | ✔️ | ✔️ | ❌ | ✔️ | Bitcoin | ❌ | ✔️ | ❌ | ❌ | ❌ | ❌ | ✔️ | ✔️ -| Commodity | ❌ | * | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ | NFT | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ✔️ * (*) depends on the particular commodity \ No newline at end of file diff --git a/concepts/atomic-swap.md b/concepts/atomic-swap.md new file mode 100644 index 0000000..89159bb --- /dev/null +++ b/concepts/atomic-swap.md @@ -0,0 +1 @@ +# Atomic Swap \ No newline at end of file diff --git a/concepts/bandwagon-bias.md b/concepts/bandwagon-bias.md new file mode 100644 index 0000000..3cd6374 --- /dev/null +++ b/concepts/bandwagon-bias.md @@ -0,0 +1,4 @@ +# Bandwagon Bias +The bandwagon bias refers to the tendency people have to adopt a certain trend-following behaviour or investment based on the perception that others are involved. + +See [madness of crowds](madness-crowds.md), [bubble](bubble.md) and [market mania](market-mania.md). \ No newline at end of file diff --git a/concepts/bank.md b/concepts/bank.md index 0b997e1..67b0cf9 100644 --- a/concepts/bank.md +++ b/concepts/bank.md @@ -1 +1,6 @@ # Bank +A bank is a financial institution which is chartered and regulated to hold customer [deposit](deposit.md). + +A bank has [deposit insurance](deposit-insurance.md) backed by a [central bank](central-banks.md). + +Banks are required to perform [KYC](kyc.md), [CTF](ctf.md), [AML](aml.md) checks on financial transactions and account holders. \ No newline at end of file diff --git a/concepts/bearer-instrument.md b/concepts/bearer-instrument.md index e9fd26b..35c15c0 100644 --- a/concepts/bearer-instrument.md +++ b/concepts/bearer-instrument.md @@ -1,4 +1,6 @@ # Bearer Instrument +A bearer instrument is a financial product in which ownership is not account-based but held by either physical or digital possession. + Physical [currency](currency.md) is a bearer instrument. Unhosted crypto [wallets](wallet.md) are bearer instruments for whoever holds their associated [private key](private-key.md). \ No newline at end of file diff --git a/concepts/bitcoin.md b/concepts/bitcoin.md index cc0cce8..6285601 100644 --- a/concepts/bitcoin.md +++ b/concepts/bitcoin.md @@ -8,11 +8,13 @@ Bitcoin is not a [currency](currency.md). Bitcoin is a [speculative](speculation.md) investment. +Bitcoin is a [bearer instrument](bearer-instrument.md). + Bitcoin is [deflationary](deflationary.md). -Bitcoin has no [fundamental-value](fundamental-value.md). +Bitcoin has no [fundamental value](fundamental-value.md). -Bitcoin has no [use-value](use-value.md). +Bitcoin has no [use value](use-value.md). Bitcoin has no [income-cashflows](income-cashflows.md). @@ -20,7 +22,7 @@ Bitcoin has a [present-value](present-value.md) of zero. Bitcoin has a [terminal-value](terminal-value.md) of zero. -Bitcoin is a [greater-fool-theory](greater-fool-theory.md) asset. +Bitcoin is a [greater fool theory](greater-fool-theory.md) asset. Bitcoin is a form of [gambling](gambling.md). @@ -38,6 +40,6 @@ Bitcoin investing is a [negative-sum game](zero-sum-game.md). Bitcoin has a [narrative economics](../claims/narrative-economics.md) based on [libertarianism](ideologies/libertarianism.md), [regulatory arbitrage](regulatory-arbitrage.md) and aspirations of [private money](private-money.md). -Bitcoin shares a payout structure similar to a [ponzi scheme](ponzi-scheme.md). +Bitcoin shares a payout structure similar to a [Ponzi scheme](ponzi-scheme.md). -Bitcoin is based on an environmentally destructive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file +Bitcoin is based on an energy intensive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file diff --git a/concepts/bubble.md b/concepts/bubble.md index 34229fe..be9981d 100644 --- a/concepts/bubble.md +++ b/concepts/bubble.md @@ -2,7 +2,9 @@ An economic bubble is a phenomenon in markets created by herd mentality, whereby people hear stories of others who bought in early and made big profits, causing those who did not buy to feel a fear of missing out. This causes irrational pricing of the asset which proceeds until the mania subsides. -Attempting to time the market on bubbles is a [zero-sum-game](zero-sum-game.md) and has a negative [expected-return](expected-return.md). +Attempting to time the market on bubbles is a [zero-sum game](zero-sum-game.md) and has a negative [expected return](expected-return.md). + +See ["madness of crowds"](madness-crowds.md). ## Examples @@ -15,9 +17,6 @@ Attempting to time the market on bubbles is a [zero-sum-game](zero-sum-game.md) * [Cryptoasset](cryptoasset.md) Bubble ## References - - - * [@mackay_extraordinary_2012] * [@bernstein_delusions_2021] * [@blanchard_bubbles_1982] diff --git a/concepts/cartel.md b/concepts/cartel.md index e4e878e..566fd04 100644 --- a/concepts/cartel.md +++ b/concepts/cartel.md @@ -2,4 +2,4 @@ An economic cartel use a non-public agreement to restrict the supply or fix the price of an asset. A cartel is a formal type of [market-manipulation](market-manipulation.md). Cartels are considered to be against the public interest because of the potential [asymmetric-information](asymmetric-information.md) to reduce trust in [markets](market.md). -Crypto exchanges operators act as economic cartel which can distort [price-formation](price-formation.md). See [stablecoin](stablecoin.md). \ No newline at end of file +Crypto exchanges operators act as economic cartel which can distort [price formation](price-formation.md). See [stablecoin](stablecoin.md). \ No newline at end of file diff --git a/concepts/cbdc.md b/concepts/cbdc.md index 259f74d..26d0975 100644 --- a/concepts/cbdc.md +++ b/concepts/cbdc.md @@ -12,6 +12,6 @@ CBDCs have been critized as being an extension of the surveillance state that co ## References -* *[@kiff_survey_2020] +* [@kiff_survey_2020] * [@bilotta_cbdcs_nodate] * [@nabilou_central_2019] \ No newline at end of file diff --git a/concepts/dogecoin.md b/concepts/dogecoin.md index c507783..2ff09e1 100644 --- a/concepts/dogecoin.md +++ b/concepts/dogecoin.md @@ -1,10 +1,10 @@ # Dogecoin -A [[memecoin]] [cryptoasset](cryptoasset.md) based on a joke about the Shibu variety of dogs. +A [memecoin](memecoin.md) [cryptoasset](cryptoasset.md) based on a joke about the Shibu variety of dogs. Dogecoin is an example of a crypto asset with no political imaginaries, no [currency](currency.md) narrative, no pretense of [use-value](use-value.md), no [fundamental-value](fundamental-value.md), and no narrative economics whatsoever. it is a pure manifestation of the [greater-fool-theory](greater-fool-theory.md) with an investment thesis rooted purely in financial nihilism. -Dogecoin is part of a larger class of nihilistic investments based around a collective dog money theme +Dogecoin is part of a larger class of nihilistic investments based around a collective dog theme. ## Properties @@ -14,9 +14,11 @@ Dogecoin is a [speculative](speculation.md) investment. Dogecoin is [deflationary](deflationary.md). -Dogecoin has no [fundamental-value](fundamental-value.md). +Dogecoin is a [bearer instrument](bearer-instrument.md). -Dogecoin has no [use-value](use-value.md). +Dogecoin has no [fundamental value](fundamental-value.md). + +Dogecoin has no [use value](use-value.md). Dogecoin has no [income-cashflows](income-cashflows.md). @@ -24,22 +26,22 @@ Dogecoin has a [present-value](present-value.md) of zero. Dogecoin has a [terminal-value](terminal-value.md) of zero. -Dogecoin is a [greater-fool-theory](greater-fool-theory.md) asset. +Dogecoin is a [greater-fool theory](greater-fool-theory.md) asset. Dogecoin is a form of [gambling](gambling.md). -Dogecoin is a non-productive investment. +Dogecoin is a [non-productive](productive-asset.md) investment. -Dogecoin has a negative [expected-return](expected-return.md). +Dogecoin has a negative [expected return](expected-return.md). Dogecoin is a [security](security.md). Dogecoin is a [bubble](bubble.md). -Dogecoin investing is a [zero-sum-game](zero-sum-game.md). +Dogecoin investing is a [zero-sum game](zero-sum-game.md). -Dogecoin has a [narrative-economics](../claims/narrative-economics.md) based on [financial-nihilism](ideologies/financial-nihilism.md) +Dogecoin has a [narrative economics](../claims/narrative-economics.md) based on [financial-nihilism](ideologies/financial-nihilism.md) -Dogecoin shares a payout structure similar to a [ponzi-scheme](ponzi-scheme.md). +Dogecoin shares a payout structure similar to a [Ponzi scheme](ponzi-scheme.md). -Dogecoin is based on an environmentally destructive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file +Dogecoin is based on an energy intensive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file diff --git a/concepts/endowment-effect.md b/concepts/endowment-effect.md new file mode 100644 index 0000000..68de2d6 --- /dev/null +++ b/concepts/endowment-effect.md @@ -0,0 +1 @@ +# Endowment Effect \ No newline at end of file diff --git a/concepts/ethereum.md b/concepts/ethereum.md index becf1bd..003a85b 100644 --- a/concepts/ethereum.md +++ b/concepts/ethereum.md @@ -10,9 +10,11 @@ Ethereum is a [speculative](speculation.md) investment. Ethereum is [deflationary](deflationary.md). +Ethereum is a [bearer instrument](bearer-instrument.md). + Ethereum has no [fundamental value](fundamental-value.md). -Ethereum has no [use-value](use-value.md). +Ethereum has no [use value](use-value.md). Ethereum has no [income-cashflows](income-cashflows.md). @@ -20,13 +22,13 @@ Ethereum has a [present-value](present-value.md) of zero. Ethereum has a [terminal-value](terminal-value.md) of zero. -Ethereum is a [greater-fool-theory](greater-fool-theory.md) asset. +Ethereum is a [greater-fool theory](greater-fool-theory.md) asset. Ethereum is a form of [gambling](gambling.md). Ethereum is a [non-productive](productive-asset.md) investment. -Ethereum has a negative [expected-return](expected-return.md). +Ethereum has a negative [expected return](expected-return.md). Ethereum is a [security](security.md). @@ -34,8 +36,8 @@ Ethereum is a [bubble](bubble.md). Ethereum investing is a [negative-sum game](zero-sum-game.md). -Ethereum has a [narrative economics](../claims/narrative-economics.md) based on [technosolutionism](ideologies/technosolutionism.md), [libertarianism](ideologies/libertarianism.md), [regulatory-arbitrage](regulatory-arbitrage.md) and aspirations of [private-money](private money.md) . +Ethereum has a [narrative economics](../claims/narrative-economics.md) based on [technosolutionism](ideologies/technosolutionism.md), [libertarianism](ideologies/libertarianism.md), [regulatory-arbitrage](regulatory-arbitrage.md) and aspirations of [private-money](private-money.md). Ethereum shares a payout structure similar to a [Ponzi scheme](ponzi-scheme.md). -Ethereum is based on an environmentally destructive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file +Ethereum is based on an energy intensive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). \ No newline at end of file diff --git a/concepts/ficticious-commodity.md b/concepts/ficticious-commodity.md new file mode 100644 index 0000000..9e3d076 --- /dev/null +++ b/concepts/ficticious-commodity.md @@ -0,0 +1 @@ +# Fictitious commodities \ No newline at end of file diff --git a/concepts/free-rider-problem.md b/concepts/free-rider-problem.md index 6566555..6c94f27 100644 --- a/concepts/free-rider-problem.md +++ b/concepts/free-rider-problem.md @@ -1,2 +1,2 @@ # Free Rider Problem -The use of [public-goods](public-goods-problem.md) by parties who do not contribute to their creation or upkeep. \ No newline at end of file +The use of [public goods](public-goods-problem.md) by parties who do not contribute to their creation or upkeep. \ No newline at end of file diff --git a/concepts/howey-test.md b/concepts/howey-test.md new file mode 100644 index 0000000..48f26e7 --- /dev/null +++ b/concepts/howey-test.md @@ -0,0 +1,8 @@ +# Howey Test + +A legal test which defines whether an investment contract is designed as a [security](security.md) under United States law. + +1. Investment of money +2. In a common enterprise +3. With the expectation of profit +4. To be derived from the efforts of others \ No newline at end of file diff --git a/concepts/ideologies/cryptoanarchism.md b/concepts/ideologies/cryptoanarchism.md new file mode 100644 index 0000000..38b8d94 --- /dev/null +++ b/concepts/ideologies/cryptoanarchism.md @@ -0,0 +1 @@ +# Cryptoanarchism diff --git a/concepts/ideologies/financial-nihilism.md b/concepts/ideologies/financial-nihilism.md index 9a75019..f15b231 100644 --- a/concepts/ideologies/financial-nihilism.md +++ b/concepts/ideologies/financial-nihilism.md @@ -1,4 +1,4 @@ # Financial Nihilism A philosophy on investing and markets in which [value](../value.md) does not exist or is inherently unknowable. The claims of this ideology are inherently contradictory but is stems from an underlying belief that [market](../market.md) have no purpose and cannot or does not exist to do [price formation](../price-formation.md) on [assets](../assets.md) because [capitalism](capitalism.md) does not work. -This is a belief system held by many who participate in [meme-stock](../meme-stock.md) and [memecoin](memecoin) projects such as [dogecoin](../dogecoin.md). \ No newline at end of file +This is a belief system held by many who participate in [meme stock](../meme-stock.md) and [meme coin](memecoin.md) projects such as [dogecoin](../dogecoin.md). \ No newline at end of file diff --git a/concepts/ideologies/inevitablism.md b/concepts/ideologies/inevitablism.md new file mode 100644 index 0000000..df7e1c1 --- /dev/null +++ b/concepts/ideologies/inevitablism.md @@ -0,0 +1 @@ +# Inevitablism \ No newline at end of file diff --git a/concepts/ideologies/keynsian-economics.md b/concepts/ideologies/keynsian-economics.md index 226b35d..286050a 100644 --- a/concepts/ideologies/keynsian-economics.md +++ b/concepts/ideologies/keynsian-economics.md @@ -1,2 +1,2 @@ -## Keynsian Economics +# Keynsian Economics diff --git a/concepts/ideologies/market-fundamentalism.md b/concepts/ideologies/market-fundamentalism.md index 7993288..3e58265 100644 --- a/concepts/ideologies/market-fundamentalism.md +++ b/concepts/ideologies/market-fundamentalism.md @@ -1,4 +1,4 @@ # Market Fundamentalism The belief that [market](../market.md) are inevitable and desirable feature of [capitalism](capitalism.md) and that efficient and transparent [market making](../market-maker.md) enables capital formation and general public prosperity. -Often coincides with the belief that [market-manipulation](../market-manipulation.md), [asymmetric-information](../asymmetric-information.md), and [cartels](../cartel.md) in markets is undesirable because these phenomenon destroy trust in markets and inhibit [price-formation](../price-formation.md). \ No newline at end of file +Often coincides with the belief that [market manipulation](../market-manipulation.md), [asymmetric information](../asymmetric-information.md), and [cartels](../cartel.md) in markets is undesirable because these phenomenon destroy trust in markets and inhibit [price formation](../price-formation.md). \ No newline at end of file diff --git a/concepts/ideologies/techno-collectivism.md b/concepts/ideologies/techno-collectivism.md index 215625e..7328845 100644 --- a/concepts/ideologies/techno-collectivism.md +++ b/concepts/ideologies/techno-collectivism.md @@ -1,4 +1,4 @@ # Technocollectivism -A loose set of political or organisational ideologies that [blockchain](../blockchain.md), [crypto assets](../cryptoasset.md) and [DAOs](../dao.md) can be used to enable new forms of organisations in which capital formation can occur outside of existing power structures. +A loose set of political or organisational ideologies that [blockchain](../blockchain.md), [crypto assets](../cryptoasset.md) and [DAOs](../dao.md) can be used to enable new forms of organisations in which capital formation can occur outside of existing power structures. These include a variety of experiments in social choice theory, futarchy and digital cooperatives. See also [technosolutionism](technosolutionism.md). \ No newline at end of file diff --git a/concepts/immutability.md b/concepts/immutability.md new file mode 100644 index 0000000..a8f9cdd --- /dev/null +++ b/concepts/immutability.md @@ -0,0 +1 @@ +# Immutability diff --git a/concepts/liquidity.md b/concepts/liquidity.md index 4707b14..430aa1f 100644 --- a/concepts/liquidity.md +++ b/concepts/liquidity.md @@ -1,5 +1,4 @@ # Liquidity - -Liquidity is as the state of [assets](assets.md) being liquid, or the ability to easily turn the assets or investments into [currency](currency.md) by finding a buyer for the asset on a [[market.]] +Liquidity is the state of [assets](assets.md) being liquid, or the ability to easily turn the assets or investments into [currency](currency.md) by finding a buyer for the asset on a [[market.]] The inability to find a buyer for an asset makes the asset illiquid. \ No newline at end of file diff --git a/concepts/madness-crowds.md b/concepts/madness-crowds.md new file mode 100644 index 0000000..18b8449 --- /dev/null +++ b/concepts/madness-crowds.md @@ -0,0 +1 @@ +# Madness of Crowds diff --git a/concepts/market-mania.md b/concepts/market-mania.md new file mode 100644 index 0000000..e2abd75 --- /dev/null +++ b/concepts/market-mania.md @@ -0,0 +1 @@ +# Market Mania diff --git a/concepts/memecoin.md b/concepts/memecoin.md new file mode 100644 index 0000000..05b0824 --- /dev/null +++ b/concepts/memecoin.md @@ -0,0 +1,4 @@ +# Memecoin +A meme coin is a [cryptoasset](cryptoasset.md) which has no pretense of [fundamental value](fundamental-value.md) or [utility](use-value.md) but instead is a [greater fool](greater-fool-theory.md) investment based trend-following of an image or symbol in popular culture. + +See [dogecoin](dogecoin.md). \ No newline at end of file diff --git a/concepts/money.md b/concepts/money.md index 03a5a3e..ff018db 100644 --- a/concepts/money.md +++ b/concepts/money.md @@ -1,17 +1,21 @@ # Money -Money is any item or verifiable record that is accepted as payment for goods and services and repayment of debts and payment of national obligations, such as taxes, in a particular jurisdiction. Issued by a [central-banks](central-banks.md). +Money is any item or verifiable record that is accepted as payment for goods and services and repayment of debts and payment of national obligations, such as taxes, in a particular jurisdiction. Money is issued by a [central banks](central-banks.md). -## Properties +The United States dollar is an example of money. -* Unit of Account -* Medium of Exchange -* Store of Value +Money is a social technology whose efficacy is based on both its universal acceptance in an economic region and the money's coherence to three properties: + +* **Medium of Exchange** - +* **Unit of Account** - +* **Store of Value** - ## Qualities +The qualifies of a currency representing money are defined by coherent to three properties: + * Durability * Portability * Divisibility * Uniformity * Limited supply -* Acceptability +* Acceptability \ No newline at end of file diff --git a/concepts/nft.md b/concepts/nft.md index 82e3540..ede47f2 100644 --- a/concepts/nft.md +++ b/concepts/nft.md @@ -13,6 +13,9 @@ NFTs have been critizied as having a payout structure similar to a [pyramid sche ## Duplication #todo +## Plagiarism +#todo + ## Multiple-chains #todo @@ -25,7 +28,11 @@ See: https://thenftbay.org/ #todo ## Tinkerbell Effect +#todo +## References + +* [Line Goes Up - The Problem with NFTs](https://www.youtube.com/watch?v=YQ_xWvX1n9g) * [@bodo_rise_2022] * [@diehl_tinkerbell_2021] * [@olson_line_2022] \ No newline at end of file diff --git a/concepts/non-economic.md b/concepts/non-economic.md new file mode 100644 index 0000000..3d884f8 --- /dev/null +++ b/concepts/non-economic.md @@ -0,0 +1,4 @@ +# Non-economic +The property of a process having no economic importance or implication, a closed loop in which there are in inflows or outflows of good or services. + +See [ficticious commodity](ficticious-commodity.md) and [artificial scarcity](artificial-scarcity.md). \ No newline at end of file diff --git a/concepts/paper-wealth.md b/concepts/paper-wealth.md new file mode 100644 index 0000000..9ebf8a7 --- /dev/null +++ b/concepts/paper-wealth.md @@ -0,0 +1,4 @@ +# Paper Wealth +Paper wealth is [value](value.md) that is stored on behalf of a customer or counterparty which has not been converted into [currency](currency.md) yet. It's denominated value has yet to be realized and is subject to [counterparty risk](counterparty-risk.md), [platform risk](platform-risk.md) and [price risk](price-risk.md) + +[Crypto assets](cryptoasset.md) held in [crypto exchanges](crypto-exchange.md) are an example of paper wealth. \ No newline at end of file diff --git a/concepts/predatory-inclusion.md b/concepts/predatory-inclusion.md new file mode 100644 index 0000000..6d40402 --- /dev/null +++ b/concepts/predatory-inclusion.md @@ -0,0 +1,2 @@ +# Predatory Inclusion +Predatory inclusion refers to a process whereby members of a marginalized group are provided with access to a good, service, or opportunity from which they have historically been excluded but under suboptimal or risky conditions that jeopardize the benefits of access. \ No newline at end of file diff --git a/concepts/private-key.md b/concepts/private-key.md index e2d1a0c..5c8d31e 100644 --- a/concepts/private-key.md +++ b/concepts/private-key.md @@ -1 +1,2 @@ -# Private Key \ No newline at end of file +# Private Key +A cryptographic key, essentially a large number, that within a given cryptosystem gives whoever posses it access the ability to generate a public key and address which is associated with a numerical quantity on a [blockchain](blockchain.md) known as a [wallet](wallet.md) and which imparts the capacity to transact in [cryptoasset](cryptoasset.md) associated with the public key's address. \ No newline at end of file diff --git a/concepts/pseudonymous.md b/concepts/pseudonymous.md new file mode 100644 index 0000000..714e01b --- /dev/null +++ b/concepts/pseudonymous.md @@ -0,0 +1 @@ +# Pseudonymous \ No newline at end of file diff --git a/concepts/pump-and-dump.md b/concepts/pump-and-dump.md index 10b5913..86bc72c 100644 --- a/concepts/pump-and-dump.md +++ b/concepts/pump-and-dump.md @@ -1,5 +1,4 @@ # Pump and Dump Scheme - A type of market manipulation based on [asymmetric-information](asymmetric-information.md) in which buying of an asset is coordinated by a set of insiders to temporarily artificially inflate the price and bring in more buyers which are used as exit liquidity for the insiders to "dump" their positions. Pump and dump schemes are illegal in most regulated markets such as public stock markets, but are rampant in crypto markets. diff --git a/concepts/reserve-currency.md b/concepts/reserve-currency.md index 14f4e35..3f3f68a 100644 --- a/concepts/reserve-currency.md +++ b/concepts/reserve-currency.md @@ -1 +1,8 @@ # Reserve Currency + A reserve currency is a [currency](currency.md) that is held in by [central-banks](central-banks.md) as part of their foreign exchange reserves. The reserve currency is used for international transaction between nation states. + +## Historical World Reserve Currencies +1. Spanish Silver Dollar +2. Dutch Guilder +3. British Pound +4. United States Dollar \ No newline at end of file diff --git a/concepts/sanctions-enforcement.md b/concepts/sanctions-enforcement.md new file mode 100644 index 0000000..65d5750 --- /dev/null +++ b/concepts/sanctions-enforcement.md @@ -0,0 +1 @@ +# Sanctions Enforcement diff --git a/concepts/security.md b/concepts/security.md index bebe92b..f612d2c 100644 --- a/concepts/security.md +++ b/concepts/security.md @@ -1,5 +1,5 @@ # Securites -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. +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. The legal test for a product being a security is in-part defined by the [Howey Test](howey-test.md). ## Examples diff --git a/concepts/shadow-bank.md b/concepts/shadow-bank.md index b4ceb10..1e95cf1 100644 --- a/concepts/shadow-bank.md +++ b/concepts/shadow-bank.md @@ -1,5 +1,5 @@ # Shadow Bank -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. +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](bank.md) system. See also [regulatory-arbitrage](regulatory-arbitrage.md). \ No newline at end of file diff --git a/concepts/stock.md b/concepts/stock.md index 00cc49c..4be3d9a 100644 --- a/concepts/stock.md +++ b/concepts/stock.md @@ -1,5 +1,4 @@ # Stock - A type of [security](security.md) which grants buyers access to [income-cashflows](income-cashflows.md) in a common economic enterprise. Stocks are valued by the [market](market.md) as a combination of three factors which inform price formation: diff --git a/concepts/systemic-risk.md b/concepts/systemic-risk.md index e28a1ec..275165f 100644 --- a/concepts/systemic-risk.md +++ b/concepts/systemic-risk.md @@ -1,5 +1,4 @@ # Systemic Risk - Systemic risk is the possibility that an event in a single asset or company could trigger severe instability or collapse an entire industry or economy. Assets considered to be a systemic risk are called "too big to fail". diff --git a/concepts/thought-terminating-cliches.md b/concepts/thought-terminating-cliches.md index 939827c..3440b6f 100644 --- a/concepts/thought-terminating-cliches.md +++ b/concepts/thought-terminating-cliches.md @@ -1,14 +1,13 @@ # Thought Terminating Cliche - -A acronym or saying that is used within a [high-control-group](high-control-group.md) to quell dissent or discourage rational inquiry. +A acronym or saying that is used within a [high control group](high-control-group.md) to quell dissent or discourage rational inquiry. ## Examples -Within the crypto ideology there are several thought-terminating cliches. +Within the crypto [subculture](../claims/weird-culture.md) there are several thought-terminating cliches. +* "have fun staying poor" / "hfsp" * "If you don't believe it or don't get it, I don't have the time to try to convince you" * "we're all going to make" / "wagmi" -* "have fun staying poor" / "hfsp" * "hold on for dear life" / "hodl" * "the dollar is a ponzi scheme" / everything is a ponzi" * "now do the dollar" diff --git a/concepts/tinkerbell-effect.md b/concepts/tinkerbell-effect.md new file mode 100644 index 0000000..9168f99 --- /dev/null +++ b/concepts/tinkerbell-effect.md @@ -0,0 +1 @@ +# Tinkerbell Effect \ No newline at end of file diff --git a/concepts/value.md b/concepts/value.md index 03e8496..b7fc691 100644 --- a/concepts/value.md +++ b/concepts/value.md @@ -1,6 +1,6 @@ # Value -Value is a subjective concept which refers to the process by which humans measure the worth of physical goods, services or ideas in terms of a fitness function which assigns subjective or objective reality to this measure. +Value is a subjective concept which refers to the process by which humans measure the worth of physical goods, services or ideas in terms of a fitness function which assigns subjective or objective measure to the referent. There are many different types of value definitions. diff --git a/concepts/wallet.md b/concepts/wallet.md index 7be5f86..5b2f180 100644 --- a/concepts/wallet.md +++ b/concepts/wallet.md @@ -1,2 +1,2 @@ # Crypto Wallet -An unhosted wallet is a crypto wallet not stored on a [crypto exchange](crypto-exchange.md) or with a custodial service and whose private key is individually managed by the user. \ No newline at end of file +An unhosted wallet is a crypto wallet not stored on a [crypto exchange](crypto-exchange.md) or with a custodial service and whose [private key](private-key.md) is individually managed by the user. \ No newline at end of file diff --git a/guide/index.md b/guide/index.md index d8902be..6dd10ed 100644 --- a/guide/index.md +++ b/guide/index.md @@ -15,23 +15,24 @@ Understand the terminology used to describe crypto and web3. * [Bitcoin](/concepts/bitcoin.md) * [Ethereum](/concepts/ethereum.md) * [Blockchain](/concepts/blockchain.md) +* [Bubble](/concepts/bubble.md) * [Money](/concepts/money.md) * [NFT](../concepts/nft.md) -* [Sound money](../concepts/sound-money.md) -* [Deflationary](../concepts/deflationary.md) -* [Assets](/concepts/assets.md) -* [Apeculative asset](/concepts/speculation.md) -* [Crypto-exchange](/concepts/crypto-exchange.md) -* [Bubble](/concepts/bubble.md) -* [DAO](/concepts/dao.md) * [Private money](../concepts/private-money.md) +* [Sound money](../concepts/sound-money.md) +* [Ponzi scheme](../concepts/ponzi-scheme.md) +* [Deflationary asset](../concepts/deflationary.md) +* [Crypto exchanges](/concepts/crypto-exchange.md) +* [Assets](/concepts/assets.md) +* [Speculative asset](/concepts/speculation.md) +* [DAO](/concepts/dao.md) * [Stablecoin](../concepts/stablecoin.md) * [Regulatory arbitrage](../concepts/regulatory-arbitrage.md) -* [Central Bank Digital Currency](../concepts/cbdc.md) +* [Central bank digital currency](../concepts/cbdc.md) ### Claims -Explore crypto and web3 in terms of the claims made about it. +Explore crypto and "web3" in terms of the claims made about it. 1. [Is bitcoin a currency?](/claims/is-bitcoin-currency.md) 2. [What type of asset is a crypto token?](/claims/what-type-of-asset.md) @@ -39,21 +40,24 @@ Explore crypto and web3 in terms of the claims made about it. 4. [Are crypto assets a systemic risk to the economy?](../claims/systemic-risk.md) 5. [Are crypto tokens a negative-sum investment?](/claims/negative-sum.md) 6. [Are crypto tokens a predatory investment?](../claims/predatory-investments.md) -7. Is bitcoin the basis for a new gold standard? -8. Is bitcoin mining harmful to the environment? -9. Are crypto assets a risk to the dollar? +7. [Is bitcoin the basis for a new gold standard?](../claims/digital-gold.md) +8. [Is bitcoin mining harmful to the environment?](../claims/environmental-footprint.md) +9. [Are crypto assets a risk to the dollar?](../claims/threaten-dollar.md) 10. [Are crypto assets legal?](/claims/legality.md) 11. [Is crypto a solution for the unbanked?](/claims/crypto-unbanked.md) 12. [What is the narrative economics of crypto assets?](../claims/narrative-economics.md) -13. Is web3 the next generation of the internet? -14. Is web3 even a well-defined term? +13. [Is web3 the next generation of the internet?](../claims/new-internet.md) +14. [Is web3 even a well-defined term?](../claims/well-defined.md) 15. [Why does crypto have such a weird subculture?](/claims/weird-culture.md) -16. Is web3 decentralized? +16. [Is web3 decentralized?](../claims/crypto-decentralized.md) 17. Is web3 green? 18. Why do people invest in crypto tokens? 19. [Are crypto tokens a means to counter authoritarianism?](../claims/authoritarianism.md) 20. Are crypto tokens a means to accelerate the collapse of capitalism? 21. [Are crypto assets a bubble?](../claims/is-bubble.md) +22. Is web3 a means to dismantle the American tech hegemony? +23. Is crypto bringing about the "financialization of everything"? +24. Is crypto providing faster payment rails or better remittance services? ## Contextual @@ -69,12 +73,14 @@ Explore crypto and "web3" in terms of different perspectives on politics and eco * [Market Fundamentalism](../concepts/ideologies/market-fundamentalism.md) * [Financial Nihilism](../concepts/ideologies/financial-nihilism.md) * [Austrian Economics](../concepts/ideologies/austrian-economics.md) -* [Libertarianism](../concepts//idelogies/libertarianism.md) -* [Technolibertarianism](../concepts//idelogies/technolibertarianism.md) -* [Technosolutionism](../concepts/ideologies/technosolutionism.md) -* [Keynsian Economics](../concepts/ideologies/keynsian-economics.md) * [Post State Technocracy](../concepts/ideologies/post-state-technocracy.md) +* [Libertarianism](../concepts/ideologies/libertarianism.md) +* [Technolibertarianism](../concepts/idelogies/technolibertarianism.md) +* [Technosolutionism](../concepts/ideologies/technosolutionism.md) +* [Technocollectivism](../concepts/ideologies/techno-collectivism.md) +* [Keynsian Economics](../concepts/ideologies/keynsian-economics.md) * [Accelerationism](../concepts/ideologies/accelerationism.md) +* [Cryptoanarchism](../concepts/ideologies/cryptoanarchism.md) ## Supporting Concepts @@ -82,31 +88,35 @@ Understand the deeper theoretical concepts behind the technical and economic cla **Economics** -* [Artificial-scarcity](/concepts/artificial-scarcity.md) +* [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) +* [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 problem](/concepts/public-goods-problem.md) +* [Public goods](/concepts/public-goods-problem.md) * [Zero-sum game](/concepts/zero-sum-game.md) * [Liquidity](../concepts/liquidity.md) -* [Pump and Dump](../concepts/pump-and-dump.md) -* [Multilevel Marketing Scheme](../concepts/mlm.md) -* [Pyramid Scheme](../concepts/pyramid.md) -* [Ponzi Scheme](../concepts/ponzi.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) +* [Wash trading](../concepts/wash-trading.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)1](/concepts/ico.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) @@ -120,12 +130,26 @@ Understand the deeper theoretical concepts behind the technical and economic cla **Regulation** -* [Securities Framework](/concepts/security.md) -* [Anti-money Laundering Law](/concepts/aml.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) +* [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) \ No newline at end of file +* [Counter-terrorism financing](../concepts/ctf.md) +* [Illicit financing](../concepts/illicit-financing.md) +* [Broker-dealer](../concepts/broker.md) + +**Sociology** + +* [Value](../concepts/value.md) +* [Bubbles](../concepts/bubble.md) +* ["Madness of crowds"](../concepts/madness-crowds.md) +* [High control groups](../concepts/high-control-group.md) +* [Thought terminating cliche](../concepts/thought-terminating-cliches.md) +* [Sign value](../concepts/sign-value.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) \ No newline at end of file diff --git a/meta/concepts-todo.md b/meta/concepts-todo.md index 659e146..ee1a07b 100644 --- a/meta/concepts-todo.md +++ b/meta/concepts-todo.md @@ -1,4 +1,7 @@ # Conceps TODO + +First pass + - [ ] [keynsian-economics](../concepts/ideologies/keynsian-economics.md) - [x] [libertarianism](../concepts/ideologies/libertarianism.md) - [x] [market-fundamentalism](../notes/market-fundamentalism.md) @@ -28,7 +31,9 @@ - [x] [wash-trading](../concepts/wash-trading.md) - [x] [web3](../concepts/web3.md) +Second Pass +- [ ] [private-money](../concepts/private-money.md) - [ ] [amm](../concepts/amm.md) - [ ] [artificial-scarcity](../concepts/artificial-scarcity.md) - [ ] [assets](../concepts/assets.md) @@ -53,11 +58,45 @@ - [ ] [order-book](../concepts/order-book.md) - [ ] [platform-risk](../concepts/platform-risk.md) - [ ] [capital-formation](../concepts/capital-formation.md) -- [ ] [private-key](../concepts/private-key.md) +- [x] [private-key](../concepts/private-key.md) - [ ] [pyramid-scheme](../concepts/pyramid-scheme.md) - [ ] [mlm](../concepts/mlm.md) - [ ] [rtgs](../concepts/rtgs.md) - [ ] [staking](../concepts/staking.md) - [ ] [systemic-risk](../concepts/systemic-risk.md) - [ ] [yield-farming](../concepts/yield-farming.md) -- [ ] [stablecoin](../concepts/stablecoin.md) \ No newline at end of file +- [ ] [stablecoin](../concepts/stablecoin.md) +- [ ] [capital-formation](../concepts/capital-formation.md) +- [ ] [commercial-paper](../concepts/commercial-paper.md) +- [x] [reserve-currency](../concepts/reserve-currency.md) +- [ ] [pseudonymous](../concepts/pseudonymous.md) +- [x] [bearer-instrument](../concepts/bearer-instrument.md) +- [x] [memecoin](../concepts/memecoin.md) +- [x] [paper-wealth](../concepts/paper-wealth.md) +- [ ] [endowment-effect](../concepts/endowment-effect.md) +- [x] [bandwagon-bias](../concepts/bandwagon-bias.md) + +Claims + +- [ ] [authoritarianism](../claims/authoritarianism.md) +- [ ] [crypto-decentralized](../claims/crypto-decentralized.md) +- [ ] [environmental-footprint](../claims/environmental-footprint.md) +- [x] [is-bubble](../claims/is-bubble.md) +- [ ] [narrative-economics](../concepts/narrative-economics.md) +- [ ] [digital-gold](../claims/digital-gold.md) +- [ ] [new-internet](../claims/new-internet.md) +- [ ] [risk-to-state](../claims/risk-to-state.md) +- [ ] [systemic-risk](../concepts/systemic-risk.md) +- [ ] [threaten-dollar](../claims/threaten-dollar.md) +- [ ] [valuation-model](../concepts/valuation-model.md) +- [ ] [what-type-of-asset](../claims/what-type-of-asset.md) + +Ideologies + +- [ ] [accelerationism](../concepts/ideologies/accelerationism.md) +- [ ] [capitalism](../concepts/ideologies/capitalism.md) +- [ ] [cryptoanarchism](../concepts/ideologies/cryptoanarchism.md) +- [ ] [inevitablism](../concepts/ideologies/inevitablism.md) +- [ ] [keynsian-economics](../concepts/ideologies/keynsian-economics.md) +- [ ] [technolibertarianism](../concepts/ideologies/technolibertarianism.md) +- [ ] [technosolutionism](../concepts/ideologies/technosolutionism.md) \ No newline at end of file diff --git a/notes/neo-metallism.md b/notes/neo-metallism.md index fc4479a..2ce98be 100644 --- a/notes/neo-metallism.md +++ b/notes/neo-metallism.md @@ -9,7 +9,7 @@ In Episode 1 of the series, Rufus Pollock and Stephen Diehl discuss the neo-meta ## Topic -[new-gold](../claims/new-gold.md) +[digital-gold](../claims/digital-gold.md) ## Concepts Covered diff --git a/notes/recent-events.md b/notes/recent-events.md index d85660b..98a1952 100644 --- a/notes/recent-events.md +++ b/notes/recent-events.md @@ -1,7 +1,24 @@ # Recent Events -Sources: https://www.ft.com/cryptocurrencies +Sources: -## # NCA calls for regulation of crypto mixers used in ‘churning criminal cash’ +* https://www.ft.com/cryptocurrencies +* https://www.bloomberg.com/crypto +* https://techcrunch.com/tag/web3/ +* https://techcrunch.com/tag/crypto/ + +*** + +## Andreessen Horowitz Hires Former Prosecutor for Crypto Role + +*March 16, 2022* + +https://www.bloomberg.com/news/articles/2022-03-15/andreessen-horowitz-hires-former-prosecutor-for-crypto-role + +See: [regulatory-capture](../concepts/regulatory-capture.md) | [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) | [market-manipulation](../concepts/market-manipulation.md) + +*** + +## NCA calls for regulation of crypto mixers used in ‘churning criminal cash’ *March 15, 2022* @@ -9,6 +26,8 @@ https://www.ft.com/content/c6df2b68-a244-4560-9911-88cc1fa61576 See: [aml](../concepts/aml.md) | [crypto-exchange](../concepts/crypto-exchange.md) | [illicit-financing](../concepts/illicit-financing.md) | [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) +*** + ## White House Is Set to Put Itself at Center of U.S. Crypto Policy *March 15, 2022* @@ -17,6 +36,8 @@ https://www.bloomberg.com/news/articles/2022-01-21/white-house-is-set-to-put-its See: [regulatory-capture](../concepts/regulatory-capture.md) | [security](../concepts/security.md) | [systemic-risk](../concepts/systemic-risk.md) +*** + ## Web3 allows tech to indulge in its love of both speculation and idealism March 4, 2022 @@ -25,6 +46,8 @@ https://www.ft.com/content/879ae372-bb3b-4aa1-a264-ce32304a77d9 See: [web3](../concepts/web3.md) | [speculation](../concepts/speculation.md) | [technolibertarianism](../concepts/ideologies/technolibertarianism.md) +*** + ## Crypto exchanges resist calls for ban on Russia transactions *March 1, 2022* @@ -33,10 +56,14 @@ https://www.ft.com/content/33c79ec2-6d26-4083-9093-2f05c3010536 See: [crypto-exchange](../concepts/crypto-exchange.md) | [aml](../concepts/aml.md) | [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) +*** + ## Business Rapper Was Bad at Bitcoin Laundering *February 9, 2022* https://www.bloomberg.com/opinion/articles/2022-02-09/business-rapper-was-bad-at-bitcoin-laundering -See: [aml](../concepts/aml.md) | [crypto-exchange](../concepts/crypto-exchange.md) | [shadow-bank](../concepts/shadow-bank.md) \ No newline at end of file +See: [aml](../concepts/aml.md) | [crypto-exchange](../concepts/crypto-exchange.md) | [money-laundering](../concepts/money-laundering.md) + +*** \ No newline at end of file diff --git a/site/pages/contribute.md b/site/pages/contribute.md index e229fdd..479771d 100644 --- a/site/pages/contribute.md +++ b/site/pages/contribute.md @@ -4,7 +4,7 @@ This is an open collaborative project. We already have a variety of partners and ### If you like research and writing -* Contribute to the [library][], for example by adding articles and research on web3 and background topics. +* Contribute to the [library][], for example by adding articles, papers and research on web3 and background topics. * Write up key concepts and ideas. You can check out our [existing guide][guide] to see which ones could be extended or improved. * See our [concepts-todo](../../meta/concepts-todo.md) task list for open topics. * Proof edit articles and transcribe dialogs. Please [get in touch][contact] to find out more. diff --git a/site/pages/library.md b/site/pages/library.md index bd5a26c..2827a6c 100644 --- a/site/pages/library.md +++ b/site/pages/library.md @@ -27,4 +27,5 @@ Join the group: * Visit the group library and click the join button. https://www.zotero.org/groups/4600269/web3 * Be approved by an admin (we'll get notified of your request or you can contact us via hello@lifeitself.us) -Start adding materials. \ No newline at end of file +Start adding materials. +