From 64d5b3df5549509837e38265064a67565f46e2b5 Mon Sep 17 00:00:00 2001 From: sdiehl Date: Thu, 17 Mar 2022 07:06:37 +0000 Subject: [PATCH] Expand concepts --- claims/authoritarianism.md | 2 + claims/crypto-unbanked.md | 2 +- claims/is-bitcoin-currency.md | 2 +- claims/is-bubble.md | 1 + claims/negative-sum.md | 2 +- claims/predatory-investments.md | 1 - claims/threaten-dollar.md | 1 + claims/what-type-of-asset.md | 2 +- concepts/aml.md | 1 - concepts/bank.md | 1 + concepts/bearer-instrument.md | 4 ++ concepts/bitcoin.md | 42 +++++++++++++++++++- concepts/blockchain.md | 2 +- concepts/bretton-woods.md | 1 + concepts/cd.md | 1 + concepts/commodity.md | 2 +- concepts/counterparty-risk.md | 1 + concepts/cross-bridges.md | 1 + concepts/crypto-exchange.md | 17 +++++++- concepts/cryptoasset.md | 8 ++-- concepts/defi.md | 4 +- concepts/deposit-insurance.md | 1 + concepts/deposit.md | 1 + concepts/dogecoin.md | 42 ++++++++++++++++++-- concepts/ethereum.md | 39 ++++++++++++++++++ concepts/exit-scam.md | 1 + concepts/expected-return.md | 3 ++ concepts/governance-token.md | 1 + concepts/ico.md | 4 +- concepts/ideologies/accelerationism.md | 1 + concepts/ideologies/austrian-economics.md | 2 +- concepts/ideologies/market-fundamentalism.md | 2 + concepts/illicit-financing.md | 1 + concepts/income-cashflows.md | 1 + concepts/money-services-business.md | 1 + concepts/nft.md | 8 +++- concepts/platform-risk.md | 1 + concepts/ponzi-scheme.md | 6 ++- concepts/price-risk.md | 1 + concepts/private-key.md | 1 + concepts/pyramid-scheme.md | 6 ++- concepts/real-estate.md | 2 + concepts/regulatory-arbitrage.md | 2 +- concepts/regulatory-capture.md | 1 + concepts/reserve-currency.md | 1 + concepts/rtgs.md | 1 + concepts/sign-value.md | 2 +- concepts/sound-money.md | 4 +- concepts/theory.md | 6 +++ concepts/wallet.md | 2 + concepts/wash-trading.md | 1 + concepts/web3.md | 7 ++-- concepts/yield-farming.md | 2 + guide/index.md | 2 +- meta/concepts-todo.md | 29 ++++++++++++++ notes/market-fundamentalism.md | 2 + notes/neo-metallism.md | 2 + notes/recent-events.md | 20 +++++++++- 58 files changed, 272 insertions(+), 35 deletions(-) create mode 100644 claims/authoritarianism.md create mode 100644 claims/is-bubble.md create mode 100644 claims/threaten-dollar.md create mode 100644 concepts/bank.md create mode 100644 concepts/bearer-instrument.md create mode 100644 concepts/bretton-woods.md create mode 100644 concepts/cd.md create mode 100644 concepts/counterparty-risk.md create mode 100644 concepts/cross-bridges.md create mode 100644 concepts/deposit-insurance.md create mode 100644 concepts/deposit.md create mode 100644 concepts/exit-scam.md create mode 100644 concepts/governance-token.md create mode 100644 concepts/ideologies/accelerationism.md create mode 100644 concepts/illicit-financing.md create mode 100644 concepts/money-services-business.md create mode 100644 concepts/platform-risk.md create mode 100644 concepts/price-risk.md create mode 100644 concepts/private-key.md create mode 100644 concepts/real-estate.md create mode 100644 concepts/reserve-currency.md create mode 100644 concepts/rtgs.md create mode 100644 concepts/theory.md create mode 100644 concepts/wallet.md create mode 100644 concepts/yield-farming.md create mode 100644 meta/concepts-todo.md diff --git a/claims/authoritarianism.md b/claims/authoritarianism.md new file mode 100644 index 0000000..631933a --- /dev/null +++ b/claims/authoritarianism.md @@ -0,0 +1,2 @@ +# Bitcoin is a means to counter authoritarian regimes + diff --git a/claims/crypto-unbanked.md b/claims/crypto-unbanked.md index bc13121..8669c80 100644 --- a/claims/crypto-unbanked.md +++ b/claims/crypto-unbanked.md @@ -1,4 +1,4 @@ -# Crypto is a solution for the unbanked +# Crypto is not a solution for the unbanked Crypto is not a solution to unbanked, because by its [deflationary](../concepts/deflationary.md) design it [cannot function as a currency](is-bitcoin-currency.md) therefore it is unusable as a scaleable means for purchasing goods and services. diff --git a/claims/is-bitcoin-currency.md b/claims/is-bitcoin-currency.md index 5899932..4d1d870 100644 --- a/claims/is-bitcoin-currency.md +++ b/claims/is-bitcoin-currency.md @@ -1,4 +1,4 @@ -# Bitcoin can function as a currency +# Bitcoin cannot function as a currency Unlike the namesake of "cryptocurrency" might imply, [bitcoin](../concepts/bitcoin.md) is not a [currency](../concepts/currency.md). It does not fulfil the economic definition of [money](../concepts/money.md). Instead bitcoin is best understood as a [speculative](../concepts/speculation.md) [cryptoasset](../concepts/cryptoasset.md) or [gambling](../concepts/gambling.md) product. diff --git a/claims/is-bubble.md b/claims/is-bubble.md new file mode 100644 index 0000000..b7ae5b7 --- /dev/null +++ b/claims/is-bubble.md @@ -0,0 +1 @@ +# Crypto assets are a bubble diff --git a/claims/negative-sum.md b/claims/negative-sum.md index 5ea9739..2b7b239 100644 --- a/claims/negative-sum.md +++ b/claims/negative-sum.md @@ -7,4 +7,4 @@ This is comparable to the analogy of a game of poker and other [gambling](../con 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). -See [assets](../concepts/assets.md) comparison chart for comparison of crypot assets to productive asset. \ No newline at end of file +See [assets](../concepts/assets.md) comparison chart for comparison of crypto assets to productive asset. \ No newline at end of file diff --git a/claims/predatory-investments.md b/claims/predatory-investments.md index 2d3ba1f..dec4a3c 100644 --- a/claims/predatory-investments.md +++ b/claims/predatory-investments.md @@ -1,5 +1,4 @@ # Crypto assets are predatory investments - Crypto assets are a form of predatory financial product. Crypto asset [market making](../concepts/market-maker.md) is subject to extreme forms of [market manipulation](../concepts/market-manipulation.md) not found in other regulated markets. The [price-formation](../concepts/price-formation.md) of crypto assets is untethered to any [fundamental-value](../concepts/fundamental-value.md) and instead depends purely on the [greater-fool-theory](../concepts/greater-fool-theory.md). The price setting by crypto excahnges and [order-book](../concepts/order-book.md) design admits extreme forms of [asymmetric-information](../concepts/asymmetric-information.md) which privileges an [economic cartel](../concepts/cartel.md) who can manipulate crypto assets to extract wealth from public from unfair market making. diff --git a/claims/threaten-dollar.md b/claims/threaten-dollar.md new file mode 100644 index 0000000..ccc7406 --- /dev/null +++ b/claims/threaten-dollar.md @@ -0,0 +1 @@ +# Does bitcoin threaten the US dollar as reserve currency \ No newline at end of file diff --git a/claims/what-type-of-asset.md b/claims/what-type-of-asset.md index 196ba55..ab07967 100644 --- a/claims/what-type-of-asset.md +++ b/claims/what-type-of-asset.md @@ -8,4 +8,4 @@ Crypto assets are [not currency](is-bitcoin-currency.md) because they cannot ful Crypto assets are not [commodities](../concepts/commodity.md) because they have no intrinsic value needed to fulfil any productive economic activity or human need. Their definition of [use-value](../concepts/use-value.md) depends on a circular argument. -Crypto assets may also be a form of [[art]] under the fuzzy definition of "artistic intent". \ No newline at end of file +Crypto assets may also be a form of [art](../concepts/art.md) under the fuzzy definition of "artistic intent". \ No newline at end of file diff --git a/concepts/aml.md b/concepts/aml.md index d8ee3e7..41bbf8c 100644 --- a/concepts/aml.md +++ b/concepts/aml.md @@ -1,5 +1,4 @@ # Anti Money Laundering - Money laundering is a criminal activity in which the provenance of money associated with a crime are obscured by passing the funds through legitimate businesses to obscure their origin. Crypto assets are used as a vehicle for money laundering. \ No newline at end of file diff --git a/concepts/bank.md b/concepts/bank.md new file mode 100644 index 0000000..0b997e1 --- /dev/null +++ b/concepts/bank.md @@ -0,0 +1 @@ +# Bank diff --git a/concepts/bearer-instrument.md b/concepts/bearer-instrument.md new file mode 100644 index 0000000..3e8f263 --- /dev/null +++ b/concepts/bearer-instrument.md @@ -0,0 +1,4 @@ +# Bearer Instrument +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 18a3f2a..0a488f6 100644 --- a/concepts/bitcoin.md +++ b/concepts/bitcoin.md @@ -1,3 +1,43 @@ # Bitcoin -The first [cryptoasset](cryptoasset.md). Bitcoin is based on an environmentally destructive [consensus-algorithm](consensus-algorithm.md). \ No newline at end of file +Bitcoin is the first [crypto asset](cryptoasset.md) investment. Used as a vehicle for [speculation](speculation.md) and [gambling](gambling.md). + +## Properties + +Bitcoin is not a [currency](currency.md). + +Bitcoin is a [speculative](speculation.md) investment. + +Bitcoin is [deflationary](deflationary.md). + +Bitcoin has no [fundamental-value](fundamental-value.md). + +Bitcoin has no [use-value](use-value.md). + +Bitcoin has no [income-cashflows](income-cashflows.md). + +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 form of [gambling](gambling.md). + +Bitcoin is a non-productive investment.s + +Bitcoin has a negative [expected-return](expected-return.md). + +Bitcoin is a [security](security.md). + +Bitcoin is allegedly a [sound-money](sound-money.md) in the [austrian-economics](ideologies/austrian-economics.md) school of thought. + +Bitcoin is a [bubble](bubble.md). + +Bitcoin investing is a [zero-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 towards [private-money](private-money.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 diff --git a/concepts/blockchain.md b/concepts/blockchain.md index 476e61b..a35d644 100644 --- a/concepts/blockchain.md +++ b/concepts/blockchain.md @@ -1,4 +1,4 @@ # Blockchain -A data structure that maintains a list of transactions that are authenticated using public key cryptography and linked using a hash function. A blockchain is a partial ordering of transaction event into windows of discrete time by which the transactions are problematically committed to a shared history which is synchronized via a [consensus-algorithm](consensus-algorithm.md). +A data structure that maintains a list of transactions that are authenticated using public key cryptography and linked using a hash function. A blockchain is a partial ordering of transaction event into windows of discrete time by which the transactions are programmatically committed to a shared history which is synchronized via a [consensus algorithm](consensus-algorithm.md). A blockchain is the technical underpinnings for [crypto assets](cryptoasset.md) such as [bitcoin](bitcoin.md) and [ethereum](ethereum.md). \ No newline at end of file diff --git a/concepts/bretton-woods.md b/concepts/bretton-woods.md new file mode 100644 index 0000000..3953730 --- /dev/null +++ b/concepts/bretton-woods.md @@ -0,0 +1 @@ +# Bretton Woods diff --git a/concepts/cd.md b/concepts/cd.md new file mode 100644 index 0000000..80f7316 --- /dev/null +++ b/concepts/cd.md @@ -0,0 +1 @@ +# Certificate Deposit diff --git a/concepts/commodity.md b/concepts/commodity.md index ab323a7..a7a74e0 100644 --- a/concepts/commodity.md +++ b/concepts/commodity.md @@ -1,6 +1,6 @@ # Commodity -An asset that is used for its [use-value](concepts/use-value.md) as an input to an economic process. +An asset that is used for its [use-value](use-value.md) as an input to an economic process. ## Examples diff --git a/concepts/counterparty-risk.md b/concepts/counterparty-risk.md new file mode 100644 index 0000000..ad27f89 --- /dev/null +++ b/concepts/counterparty-risk.md @@ -0,0 +1 @@ +# Counterparty Risk diff --git a/concepts/cross-bridges.md b/concepts/cross-bridges.md new file mode 100644 index 0000000..6e80eb7 --- /dev/null +++ b/concepts/cross-bridges.md @@ -0,0 +1 @@ +# Cross Bridges diff --git a/concepts/crypto-exchange.md b/concepts/crypto-exchange.md index a205007..4c4588f 100644 --- a/concepts/crypto-exchange.md +++ b/concepts/crypto-exchange.md @@ -1,4 +1,17 @@ # Crypto Exchanges -A corporate entity that acts as an intermediary between people to exchange [currency](currency.md) for [crypto assets](cryptoasset.md) +A crypto exchange is a corporate entity that acts as an intermediary between people to exchange [currency](currency.md) for [crypto assets](cryptoasset.md) -See [market-manipulation](market-manipulation.md) and [economic cartel](cartel.md). \ No newline at end of file +Crypto exchanes are not regulated as market makers or brokers, but instead as [money services business](money-services-business.md) which does regulate [order book](order-book.md) making or protect consumers against [market manipulation](market-manipulation.md). + +Many crypto exchanges offer their own [stablecoin](stablecoin.md) whose reserves may be comingled with customer funds. + +See [market manipulation](market-manipulation.md) and [economic cartel](cartel.md). + +## Jurisdictions + +Crypto exchanges are commonly set up in jurisdictions with loose or corrupt financial regulatory authorities. + +* Seychelles +* The Bahamas +* Cayman Islands +* Singapore \ No newline at end of file diff --git a/concepts/cryptoasset.md b/concepts/cryptoasset.md index 81c2bf8..af8c8b3 100644 --- a/concepts/cryptoasset.md +++ b/concepts/cryptoasset.md @@ -16,9 +16,9 @@ Crypto assets have no direct correspondence in traditional markets, but have sev * Zero-coupon perpetual [bond](bond.md) * Unspendable [currency](currency.md) -* [equity](security.md) with no cash flows or dividends -* [commodity](commodity.md) with no use value +* [Equity](security.md) with no cash flows or dividends +* [Commodity](commodity.md) with no use value * Exchange traded [pyramid-scheme](pyramid-scheme.md) -* [derivative](derivative.md) contract with no underlying -* [libertarianism](ideologies/libertarianism.md) performance art +* [Derivative](derivative.md) contract with no underlying +* [Libertarianism](ideologies/libertarianism.md) performance [art](art.md) * Self-organizing [ponzi-scheme](ponzi-scheme.md) \ No newline at end of file diff --git a/concepts/defi.md b/concepts/defi.md index 0c67a0c..bf7b6a0 100644 --- a/concepts/defi.md +++ b/concepts/defi.md @@ -1,3 +1,5 @@ # Decentralized Finance (DeFi) -Defi is a broad category of [smart-contracts](smart-contracts.md) which loosely correspond to digital contracts running on a [blockchain](blockchain.md) which allow users to create collateralized loans out of [stablecoin](stablecoin.md) and which have side payouts in so-called "governance tokens". \ No newline at end of file +Defi is a broad category of [smart-contracts](smart-contracts.md) which loosely correspond to digital contracts running on a [blockchain](blockchain.md) which allow users to create collateralized loans out of [stablecoin](stablecoin.md) and which have side payouts in so-called "[governance tokens](governance-token.md)". + +See also [yield-farming](yield-farming.md). \ No newline at end of file diff --git a/concepts/deposit-insurance.md b/concepts/deposit-insurance.md new file mode 100644 index 0000000..8d7b15f --- /dev/null +++ b/concepts/deposit-insurance.md @@ -0,0 +1 @@ +# Deposit Insurance diff --git a/concepts/deposit.md b/concepts/deposit.md new file mode 100644 index 0000000..25c9bba --- /dev/null +++ b/concepts/deposit.md @@ -0,0 +1 @@ +# Deposit diff --git a/concepts/dogecoin.md b/concepts/dogecoin.md index 6de66e2..b844853 100644 --- a/concepts/dogecoin.md +++ b/concepts/dogecoin.md @@ -1,9 +1,45 @@ # Dogecoin -A [[memecoin]] [cryptoasset](cryptoasset.md) based on a joke about the Shibu Inu variety of dogs. +A [[memecoin]] [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 pretension 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 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 -See [market-manipulation](market-manipulation.md). \ No newline at end of file +## Properties + +Dogecoin is not a [currency](currency.md). + +Dogecoin is a [speculative](speculation.md) investment. + +Dogecoin is [deflationary](deflationary.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). + +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 form of [gambling](gambling.md). + +Dogecoin is a non-productive investment. + +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 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 towards [private-money](private-money.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 diff --git a/concepts/ethereum.md b/concepts/ethereum.md index 712b903..766a7b2 100644 --- a/concepts/ethereum.md +++ b/concepts/ethereum.md @@ -1,2 +1,41 @@ # Ethereum +Ethereum is a [cryptoasset](cryptoasset.md) that extends the [bitcoin](bitcoin.md) model to allow the execution of [smart-contracts](smart-contracts.md). + +## Properties + +Ethereum is not a [currency](currency.md). + +Ethereum is a [speculative](speculation.md) investment. + +Ethereum is [deflationary](deflationary.md). + +Ethereum has no [fundamental-value](fundamental-value.md). + +Ethereum has no [use-value](use-value.md). + +Ethereum has no [income-cashflows](income-cashflows.md). + +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 form of [gambling](gambling.md). + +Ethereum is a non-productive investment. + +Ethereum has a negative [expected-return](expected-return.md). + +Ethereum is a [security](security.md). + +Ethereum is a [bubble](bubble.md). + +Ethereum investing is a [zero-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 towards [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 diff --git a/concepts/exit-scam.md b/concepts/exit-scam.md new file mode 100644 index 0000000..cef643f --- /dev/null +++ b/concepts/exit-scam.md @@ -0,0 +1 @@ +# Exit Scam diff --git a/concepts/expected-return.md b/concepts/expected-return.md index b29d3f2..9c1a950 100644 --- a/concepts/expected-return.md +++ b/concepts/expected-return.md @@ -1 +1,4 @@ # Expected Return +Expected return (ER) is calculated by multiplying potential cashflow outcomes by the odds that they occur and then summing over the result. + +> ER = (return A x probability A) + (return B x probability B) + ... \ No newline at end of file diff --git a/concepts/governance-token.md b/concepts/governance-token.md new file mode 100644 index 0000000..1ff5757 --- /dev/null +++ b/concepts/governance-token.md @@ -0,0 +1 @@ +# Governance Token diff --git a/concepts/ico.md b/concepts/ico.md index 0681a4b..f386ae6 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 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 proxy [equity](security.md) fundraising structure that allows entrepeneurs to raise [crypto assets](cryptoasset.md) in a common enterprise outside of existing securities regulation. Initial coin offerings are an example of [regulatory-arbitrage](regulatory-arbitrage.md) of [security](security.md) regulation. Initial coin offerings are illegal in the United States. @@ -9,7 +9,7 @@ Initial coin offerings are illegal in the United States. * [@kharif_half_2018] * [@zetzsche_ico_2017] * [@kelly_ico_2019] -* *[@debler_foreign_2018] +* [@debler_foreign_2018] * [@cincinnati_ponzico_2017] * [@howell_initial_2018] * [@boreiko_serial_2020] diff --git a/concepts/ideologies/accelerationism.md b/concepts/ideologies/accelerationism.md new file mode 100644 index 0000000..bc8e1e5 --- /dev/null +++ b/concepts/ideologies/accelerationism.md @@ -0,0 +1 @@ +# Financial Accelerationism diff --git a/concepts/ideologies/austrian-economics.md b/concepts/ideologies/austrian-economics.md index 8fdd6a1..d79f8cd 100644 --- a/concepts/ideologies/austrian-economics.md +++ b/concepts/ideologies/austrian-economics.md @@ -4,7 +4,7 @@ A heterodox school of economics that attempts to reason about human behaviour fr This school of thought has seen a resurgence in relation to [crypto assets](../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](../gold-standard.md) and [libertarianism](libertarianism.md). ## Prominent Thinkers diff --git a/concepts/ideologies/market-fundamentalism.md b/concepts/ideologies/market-fundamentalism.md index eee7c74..30ae56a 100644 --- a/concepts/ideologies/market-fundamentalism.md +++ b/concepts/ideologies/market-fundamentalism.md @@ -1 +1,3 @@ # Market Fundamentalism +The belief that [market](../market.md) are inevitable and desirable feature of [capitalism](capitalism.md) and that efficient and transparent [market maker](../market-maker.md) enables capital formation and general public prosperity. + diff --git a/concepts/illicit-financing.md b/concepts/illicit-financing.md new file mode 100644 index 0000000..6f502cb --- /dev/null +++ b/concepts/illicit-financing.md @@ -0,0 +1 @@ +# Illicit Financing diff --git a/concepts/income-cashflows.md b/concepts/income-cashflows.md index 55647b9..3da67b2 100644 --- a/concepts/income-cashflows.md +++ b/concepts/income-cashflows.md @@ -1,3 +1,4 @@ # Income Cashflows +Income associated with a financial asset is [money](money.md) that is generated by the terms of the contract. Such as the revenue a [stock](stock.md) company generates from its operations or the rent a piece of real estate can generate. The discounted cash flow model is a method in quantitative finance of valuing a security, project, company, or asset using the concepts of the time value of money. \ No newline at end of file diff --git a/concepts/money-services-business.md b/concepts/money-services-business.md new file mode 100644 index 0000000..c1814cd --- /dev/null +++ b/concepts/money-services-business.md @@ -0,0 +1 @@ +# Money Services Business diff --git a/concepts/nft.md b/concepts/nft.md index 6da19e9..c8084fa 100644 --- a/concepts/nft.md +++ b/concepts/nft.md @@ -1,6 +1,12 @@ # 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](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](art.md) or [sign-value](sign-value.md). + +NFTs have no [fundamental-value](fundamental-value.md). + +NFTs are a [speculative asset](speculation.md). + +NFTs have no [use-value](use-value.md). ## Tinkerbell Effect diff --git a/concepts/platform-risk.md b/concepts/platform-risk.md new file mode 100644 index 0000000..5566fff --- /dev/null +++ b/concepts/platform-risk.md @@ -0,0 +1 @@ +# Platform Risk diff --git a/concepts/ponzi-scheme.md b/concepts/ponzi-scheme.md index 15e1ed4..775cb64 100644 --- a/concepts/ponzi-scheme.md +++ b/concepts/ponzi-scheme.md @@ -4,8 +4,12 @@ A type of investment fraud in which old investors are paid out from an influx of [Crypto asset](cryptoasset.md) are often referred to as obscured or self-organizing Ponzi schemes. +Investing in Ponzi schemes has a negative [expected return](expected-return.md). + ## References * [@krugman_bitcoin_2018] * [@hutchison_postmodern_2012] -* [@bartoletti_dissecting_2020] \ No newline at end of file +* [@bartoletti_dissecting_2020] + +See: [Investor.gov Ponzi Scheme](https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme) \ No newline at end of file diff --git a/concepts/price-risk.md b/concepts/price-risk.md new file mode 100644 index 0000000..f10b4de --- /dev/null +++ b/concepts/price-risk.md @@ -0,0 +1 @@ +# Price Risk \ No newline at end of file diff --git a/concepts/private-key.md b/concepts/private-key.md new file mode 100644 index 0000000..e2d1a0c --- /dev/null +++ b/concepts/private-key.md @@ -0,0 +1 @@ +# Private Key \ No newline at end of file diff --git a/concepts/pyramid-scheme.md b/concepts/pyramid-scheme.md index ecc2682..12b4994 100644 --- a/concepts/pyramid-scheme.md +++ b/concepts/pyramid-scheme.md @@ -1,3 +1,7 @@ # Pyramid Scheme -A pyramid scheme is a fraudulent investment based on recruiting an ever-increasing number of "investors" or [greater fools](greater-fool-theory.md) into the scheme. The initial promoters recruit investors, who in turn recruit more investors, and so on. \ No newline at end of file +A pyramid scheme is a fraudulent investment based on recruiting an ever-increasing number of "investors" or [greater fools](greater-fool-theory.md) into the scheme. The initial promoters recruit investors, who in turn recruit more investors, and so on. + +## References + +* [Invesator.gov Pyramid Scheme](https://www.investor.gov/protect-your-investments/fraud/types-fraud/pyramid-schemes) \ No newline at end of file diff --git a/concepts/real-estate.md b/concepts/real-estate.md new file mode 100644 index 0000000..8acd974 --- /dev/null +++ b/concepts/real-estate.md @@ -0,0 +1,2 @@ +# Real Estate + diff --git a/concepts/regulatory-arbitrage.md b/concepts/regulatory-arbitrage.md index f5c71a6..18c52ec 100644 --- a/concepts/regulatory-arbitrage.md +++ b/concepts/regulatory-arbitrage.md @@ -1,2 +1,2 @@ # Regulatory Arbitrage -The use of one region or jurisdictions laws to create financial products which abuse or break another jurisdictions laws using legal loopholes, [regulatory-capture](regulatory-capture.md), or outright scofflaw and criminal behaviour.f \ No newline at end of file +The use of one region or jurisdictions laws to create financial products which abuse or break another jurisdictions laws using legal loopholes, [regulatory capture](regulatory-capture.md), or outright scofflaw and criminal behaviour. \ No newline at end of file diff --git a/concepts/regulatory-capture.md b/concepts/regulatory-capture.md index 7f2453b..1b6b0ed 100644 --- a/concepts/regulatory-capture.md +++ b/concepts/regulatory-capture.md @@ -1 +1,2 @@ # Regulatory Capture +The movement of people working in regulatory bodies to take jobs in the industries they used to regulate. This may introduce conflicts of interest which are not in the public interest. \ No newline at end of file diff --git a/concepts/reserve-currency.md b/concepts/reserve-currency.md new file mode 100644 index 0000000..14f4e35 --- /dev/null +++ b/concepts/reserve-currency.md @@ -0,0 +1 @@ +# Reserve Currency diff --git a/concepts/rtgs.md b/concepts/rtgs.md new file mode 100644 index 0000000..8befdda --- /dev/null +++ b/concepts/rtgs.md @@ -0,0 +1 @@ +# Real Time Gross Settlement diff --git a/concepts/sign-value.md b/concepts/sign-value.md index 8bb6dd6..650f040 100644 --- a/concepts/sign-value.md +++ b/concepts/sign-value.md @@ -1,3 +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](use-value.md) and [income-cashflows](income-cashflows.md) derived from the function or use of the asset. \ No newline at end of file +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/sound-money.md b/concepts/sound-money.md index d94b6b1..7c82248 100644 --- a/concepts/sound-money.md +++ b/concepts/sound-money.md @@ -1,4 +1,4 @@ # Sound Money -An Austrian economics philosophy that an idealized [currency](concepts/currency.md) should be backed by a finite unchanging supply and fixed supply of a [commodity](concepts/commodity.md). +An [Austrian economics](ideologies/austrian-economics.md) philosophy that an idealized [currency](concepts/currency.md) should be backed by a finite unchanging supply and fixed supply of a [commodity](concepts/commodity.md). -See [gold-standard](concepts/gold-standard.md). \ No newline at end of file +See [gold standard](gold-standard.md). \ No newline at end of file diff --git a/concepts/theory.md b/concepts/theory.md new file mode 100644 index 0000000..8b988c8 --- /dev/null +++ b/concepts/theory.md @@ -0,0 +1,6 @@ +non-physical commodity with no use value or intrinsic value +computation that's strictly worse than what's available but wrapped in narrative +narrative-generated asset class +commodity fetishism +pseudo-commodity +fictitious commodity \ No newline at end of file diff --git a/concepts/wallet.md b/concepts/wallet.md new file mode 100644 index 0000000..66f00b2 --- /dev/null +++ b/concepts/wallet.md @@ -0,0 +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 diff --git a/concepts/wash-trading.md b/concepts/wash-trading.md index 1dbb212..25c2e00 100644 --- a/concepts/wash-trading.md +++ b/concepts/wash-trading.md @@ -1 +1,2 @@ # Wash Trading +The trading of an [assets](assets.md) in which the same party both buys and sells the product in order to fake transaction or [market manipulate](market-manipulation.md) the price of the asset. \ No newline at end of file diff --git a/concepts/web3.md b/concepts/web3.md index 9cef510..9fb18a9 100644 --- a/concepts/web3.md +++ b/concepts/web3.md @@ -1,7 +1,8 @@ # Web3 -An umbrella marketing term for a variety of endeveaours to integrate [crypto asset](cryptoasset.md), [nft](nft.md), [dao](dao.md), [defi](defi.md) and [smart-contracts](smart-contracts.md) into existing internet infrastructure. +An umbrella marketing term for a variety of endeavours to integrate [crypto asset](cryptoasset.md), [nft](nft.md), [dao](dao.md), [defi](defi.md) and [smart contracts](smart-contracts.md) into existing web infrastructure. + +See: [https://web3isgoinggreat.com](https://web3isgoinggreat.com) ## Citations -* [@diehl_web3_nodate] -* [@noauthor_my_nodate] \ No newline at end of file +* [@diehl_web3_nodate] \ No newline at end of file diff --git a/concepts/yield-farming.md b/concepts/yield-farming.md new file mode 100644 index 0000000..acfffae --- /dev/null +++ b/concepts/yield-farming.md @@ -0,0 +1,2 @@ +# Yield Farming +CDs \ No newline at end of file diff --git a/guide/index.md b/guide/index.md index 2be1aeb..69516c0 100644 --- a/guide/index.md +++ b/guide/index.md @@ -59,7 +59,7 @@ Understand Web3 in terms of different perspectives on politics and economics. * [market-fundamentalism](../concepts/ideologies/market-fundamentalism.md) * [austrian-economics](../concepts/ideologies/austrian-economics.md) -* [libertarianism](/idelogies/libertarianism.md) +* [libertarianism](../concepts//idelogies/libertarianism.md) * [technosolutionism](../concepts/ideologies/technosolutionism.md) * [keynsian-economics](../concepts/ideologies/keynsian-economics.md) diff --git a/meta/concepts-todo.md b/meta/concepts-todo.md new file mode 100644 index 0000000..c8610f2 --- /dev/null +++ b/meta/concepts-todo.md @@ -0,0 +1,29 @@ +# Conceps TODO +- [ ] [keynsian-economics](../concepts/ideologies/keynsian-economics.md) +- [ ] [libertarianism](../concepts/ideologies/libertarianism.md) +- [ ] [market-fundamentalism](../notes/market-fundamentalism.md) +- [ ] [marxism](../concepts/ideologies/marxism.md) +- [ ] [post-state-technocracy](../concepts/ideologies/post-state-technocracy.md) +- [ ] [techno-collectivism](../concepts/ideologies/techno-collectivism.md) +- [ ] [technolibertarianism](../concepts/ideologies/technolibertarianism.md) +- [ ] [technosolutionism](../concepts/ideologies/technosolutionism.md) +- [ ] [aml](../concepts/aml.md) +- [ ] [censorship-resistence](../concepts/censorship-resistence.md) +- [ ] [defi](../concepts/defi.md) +- [ ] [deflationary](../concepts/deflationary.md) +- [ ] [free-rider-problem](../concepts/free-rider-problem.md) +- [ ] [inflationary](../concepts/inflationary.md) +- [ ] [kyc](../concepts/kyc.md) +- [ ] [leverage](../concepts/leverage.md) +- [ ] [market-maker](../concepts/market-maker.md) +- [ ] [meme-stock](../concepts/meme-stock.md) +- [ ] [moral-hazard](../concepts/moral-hazard.md) +- [ ] [order-book](../concepts/order-book.md) +- [ ] [public-goods-problem](../concepts/public-goods-problem.md) +- [ ] [regulatory-capture](../concepts/regulatory-capture.md) +- [ ] [regulatory-arbitrage](../concepts/regulatory-arbitrage.md) +- [ ] [shadow-bank](../concepts/shadow-bank.md) +- [ ] [terminal-value](../concepts/terminal-value.md) +- [ ] [value](../concepts/value.md) +- [ ] [wash-trading](../concepts/wash-trading.md) +- [ ] [web3](../concepts/web3.md) \ No newline at end of file diff --git a/notes/market-fundamentalism.md b/notes/market-fundamentalism.md index 33cf196..6741d5c 100644 --- a/notes/market-fundamentalism.md +++ b/notes/market-fundamentalism.md @@ -5,6 +5,8 @@ In Episode 2 of the series, Rufus Pollock and Stephen Diehl discuss the market fundamentalism perspective on crypto assets and the perspective on crypto assets from the perspective of day traders to quantitative hedge funds. +[https://youtu.be/K5JtPTyc0y0](https://youtu.be/K5JtPTyc0y0) + ## Topic [market-fundamentalism](../concepts/ideologies/market-fundamentalism.md) diff --git a/notes/neo-metallism.md b/notes/neo-metallism.md index 630be5f..fc4479a 100644 --- a/notes/neo-metallism.md +++ b/notes/neo-metallism.md @@ -5,6 +5,8 @@ In Episode 1 of the series, Rufus Pollock and Stephen Diehl discuss the neo-metallist perspective on bitcoin and the concept of "digital" gold. +[https://youtu.be/_o7pRFLzJHY](https://youtu.be/_o7pRFLzJHY) + ## Topic [new-gold](../claims/new-gold.md) diff --git a/notes/recent-events.md b/notes/recent-events.md index b6f1c27..8010d16 100644 --- a/notes/recent-events.md +++ b/notes/recent-events.md @@ -1,4 +1,5 @@ # Recent Events +Sources: https://www.ft.com/cryptocurrencies ## White House Is Set to Put Itself at Center of U.S. Crypto Policy @@ -8,10 +9,25 @@ 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 -# Business Rapper Was Bad at Bitcoin Laundering +March 4, 2022 -*9 February 2022* +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 + +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