From a3cb40272038cb2aefa2d30905cb64f7c4135924 Mon Sep 17 00:00:00 2001 From: sdiehl Date: Thu, 24 Feb 2022 13:53:41 +0000 Subject: [PATCH] Fill out ICO section --- README.md | 2 +- concepts/austrian-economics.md | 17 +++++++++++++++++ concepts/central-banks.md | 3 +++ concepts/currency.md | 18 ++++++++++-------- concepts/gold-standard.md | 5 ++++- concepts/ico.md | 14 ++++++++++++++ concepts/smart-contracts.md | 2 +- 7 files changed, 50 insertions(+), 11 deletions(-) diff --git a/README.md b/README.md index ebea889..bc1801d 100644 --- a/README.md +++ b/README.md @@ -22,7 +22,6 @@ Awesome critique of crypto/web3, etc. Contributions are welcome. - [On Unintentional Scams](https://www.stephendiehl.com/blog/crypto-scams.html) - July 23, 2021 - [How to Destroy Bitcoin](https://www.stephendiehl.com/blog/destroy-bitcoin.html) - July 13, 2021 - [The Non-Innovation of Cryptocurrency](https://www.stephendiehl.com/blog/non-innovation.html) - July 7, 2021 - - [Revolution Now! With Peter Joseph | Bitcoin and Financialization](https://youtu.be/bsghxd1cdeA) - May 21, 2021 - [The Oncoming Ransomware Storm](https://www.stephendiehl.com/blog/ransomware.html) - May 11, 2021 - [Et tu, Signal?](https://www.stephendiehl.com/blog/signal.html) - April 7, 2021 - [The Political Case for a Blanket Cryptocurrency Ban](https://www.stephendiehl.com/blog/banbitcoin.html) - March 30, 2021 @@ -37,6 +36,7 @@ Awesome critique of crypto/web3, etc. Contributions are welcome. * [The Third Web](https://tante.cc/2021/12/17/the-third-web/) - 2021-12-17 - long critical essay including detailed history by [Tante](https://twitter.com/tante) * https://rufuspollock.com/2016/07/02/reflections-on-the-blockchain/ - 2016-07-02 - by Rufus Pollock (mainly a critique of early DAOs and techno-solutionism) * [Web3 takes trust, too](https://www.bloomberg.com/opinion/articles/2022-01-10/web3-takes-trust-too) - 2022-01-10 by Matt Levine on Bloomberg.com +* [Revolution Now! With Peter Joseph | Bitcoin and Financialization](https://youtu.be/bsghxd1cdeA) - May 21, 2021 * [The Web3 Fraud](https://www.usenix.org/publications/loginonline/web3-fraud) - 2021-12-16 by Nicholas Weaver on usenix.com * Molly White series - https://blog.mollywhite.net/blockchain/ * [Blockchain-based systems are not what they say they are](https://blog.mollywhite.net/blockchains-are-not-what-they-say/) diff --git a/concepts/austrian-economics.md b/concepts/austrian-economics.md index 28ed7c3..0c1252b 100644 --- a/concepts/austrian-economics.md +++ b/concepts/austrian-economics.md @@ -1,2 +1,19 @@ # Austrian Economics +A heterodox school of economics that attempts to reason about human behaviour from first principles and deductive reasoning instead of quantitative analysis. Popular in the early 20th century but largely rejected by the modern academy. + +This school of thought has seen a resurgence in relation to cryptocurrency. + +Often resonates with advocacy for the [[gold-standard]] and [[libertarianism]]. + +## Prominent Thinkers + +* Murry Rothbard +* Ludwig von Mises +* Friedrich Hayek +* Saifedean Ammous + +## Citations + +* Friedrich, Carl J. "The Road to Serfdom." (1945): 575-579. +* [@ammous_bitcoin_2018] \ No newline at end of file diff --git a/concepts/central-banks.md b/concepts/central-banks.md index ce1f1e0..88f87e0 100644 --- a/concepts/central-banks.md +++ b/concepts/central-banks.md @@ -1 +1,4 @@ # Central Banks + +A financial institution that manages the currency and monetary supply of a nation state. + diff --git a/concepts/currency.md b/concepts/currency.md index 1660182..e7139be 100644 --- a/concepts/currency.md +++ b/concepts/currency.md @@ -1,16 +1,18 @@ # Currency -Properties +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. + +## Properties * Unit of Account * Medium of Exchange * Store of Value -Observables +## Qualities -* durability -* portability -* divisibility -* uniformity -* limited supply -* acceptability +* Durability +* Portability +* Divisibility +* Uniformity +* Limited supply +* Acceptability diff --git a/concepts/gold-standard.md b/concepts/gold-standard.md index 6d2ed0a..9578516 100644 --- a/concepts/gold-standard.md +++ b/concepts/gold-standard.md @@ -4,12 +4,15 @@ A monetary standard based on precious metals, espoused as [[sound-money]] in [[a ## Criticisms +Very few mainstream economists believe the gold standard to be a good way to run a currency anymore. Historically there have been many problems over the now-standard fiat money system. + * Unequal distribution of gold across Earth gives certain countries and groups unequal access to value detached from economic activity and based purely on geography. * Limits the amount of economic growth because supply is limited. * Does not allow market intervention during recessions. -* Short-term price volatility +* Short-term price volatility. * Deflationary currencies encourage hording and punish debtors. * Gold mining and production is not predictable on long time scales. +* Shocks in one economic region transfer to other regions. (Great Depression & World War II)ss ## Essays diff --git a/concepts/ico.md b/concepts/ico.md index 8238856..199d374 100644 --- a/concepts/ico.md +++ b/concepts/ico.md @@ -1 +1,15 @@ # Initial Coin Offerings + +Initial coin offerings are proxy [[securities|equity]] fundraising structure that allows enterpeuers to raise crypto assets in a common enterprise outside of existing securities regulation. + +## Citations + +* [@kharif_half_2018] +* [@zetzsche_ico_2017] +* [@kelly_ico_2019] +* *[@debler_foreign_2018] +* [@cincinnati_ponzico_2017] +* [@howell_initial_2018] +* [@boreiko_serial_2020] +* [@benedetti_digital_2018] +* [@momtaz_entrepreneurial_2020] \ No newline at end of file diff --git a/concepts/smart-contracts.md b/concepts/smart-contracts.md index a4dff7b..224fc5f 100644 --- a/concepts/smart-contracts.md +++ b/concepts/smart-contracts.md @@ -1,7 +1,7 @@ # Smart Contracts A unit of programmable logic that is stored on a [[blockchain]] and executed as part of a [[consensus-algorithm]]. -Examples: +## Examples: * ERC20 * [[dao]]