diff --git a/claims/is-weird-culture.md b/claims/is-weird-culture.md index 4de574a..b522724 100644 --- a/claims/is-weird-culture.md +++ b/claims/is-weird-culture.md @@ -8,6 +8,7 @@ Crypto culture depends heavily on a distortion of language to signify belonging * "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" +* "we're so early" * "hold on for dear life" / "hodl" * "the dollar is a ponzi scheme" / everything is a ponzi" * "now do the dollar" diff --git a/concepts/hard-fork.md b/concepts/hard-fork.md index 5ebeb5b..d528add 100644 --- a/concepts/hard-fork.md +++ b/concepts/hard-fork.md @@ -1 +1,10 @@ -# Hard Fork \ No newline at end of file +# Hard Fork +An event when a [cryptoasset](cryptoasset.md) on a [blockchain](blockchain.md) has a divergence in its transaction history and is duplicated into two separate histories. Effectively results in a split of the asset into two versions of itself which are incompatible until either one fork is abandoned or becomes a separate asset all together. + +Most major crypto assets including [bitcoin](bitcoin.md) and [ethereum](ethereum.md) have had hard forks. + +## References +1. Schneier, Bruce. 2019. ‘There’s No Good Reason to Trust Blockchain Technology’. Wired Magazine. https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/. +1. Rosenthal, David. n.d. ‘Stanford Lecture on Cryptocurrency’. Accessed 2 March 2022. https://blog.dshr.org/2022/02/ee380-talk.html. +1. Plant, Luke. 2022. ‘The Technological Case against Bitcoin and Blockchain’. Luke Plant’s Home Page. 5 March 2022. https://lukeplant.me.uk/blog/posts/the-technological-case-against-bitcoin-and-blockchain/. +1. Weaver, Nicholas. 2018. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4. \ No newline at end of file diff --git a/concepts/price-risk.md b/concepts/price-risk.md index d8e54de..a3c8adb 100644 --- a/concepts/price-risk.md +++ b/concepts/price-risk.md @@ -1,5 +1,5 @@ # Price Risk -Price risk is the risk of a decline in the value of an [asset](asset), due to external factors or market conditions, during a period in which a financial contract is active. The risk of the asset declining must be factored into the contract's payment terms to hedge the risk of the asset. +*Price risk* or *market risk* is the risk of a decline in the value of an [asset](asset), due to external factors or market conditions, during a period in which a financial contract is active. The risk of the asset declining must be factored into the contract's payment terms to hedge the risk of the asset. [Crypto assets](cryptoasset.md) are subject to extreme volatility and thus have extreme price risk, which makes them unsuitable as a [medium of exchange](money.md) or for denominating contracts in. diff --git a/guide/index.md b/guide/index.md index 0de2ebd..8f80e53 100644 --- a/guide/index.md +++ b/guide/index.md @@ -156,6 +156,7 @@ Understand the deeper theoretical concepts behind the technical and economic cla * [Automated Market Maker (AMM)](../concepts/amm.md) * [Decentralized Exchange (DEX)](../concepts/dex.md) * [Yield Farming](../concepts/yield-farming.md) +* [Hard fork](../concepts/hard-fork.md) #### Regulation