Expand wiki

concepts/DEX.md

@@ -1,6 +1,6 @@
 # DEX = Decentralized EXchange
 
-Order-book based but p2p (i.e. without market makers). This contrasts with [[AMM]] (automated market makers) who don't have an order book.
+Order-book based but p2p (i.e. without market makers). This contrasts with [[concepts/AMM]] (automated market makers) who don't have an order book.
 
 ## Limitations
 

concepts/aml.md

@@ -1,3 +1,5 @@
 # Anti Money Laundering 
 
-#todo 
+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 quite often used as a vehicle for money laundering.

concepts/artificial-scarcity.md

@@ -1,3 +1,8 @@
 # Artificial Scarcity
 
-#todo 
+The abstract notion of creating an asset which has no physicality or underlying and whose demand curve is not generated by [use-value](concepts/use-value.md) or [income-cashflows](concepts/income-cashflows.md). 
+
+Financial instruments like bonds, stocks and derivatives are not artificially scarce.
+
+Pseudo-assets like [nft](concepts/nft.md) are artificially scarce.
+

concepts/bubble.md

@@ -0,0 +1,16 @@
+# Bubble
+
+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.
+
+## Examples
+
+* South Sea Bubble
+* Beanie Baby Bubble
+* London Rail Bubble
+* Tulip Mania
+* Dot-com Bubble
+* Japanese Real Estate Bubble
+
+## References
+
+* [@mackay_extraordinary_2012]

concepts/cartel.md

@@ -0,0 +1,5 @@
+# Cartel
+
+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](concepts/market-manipulation.md). Cartels are considered to be against the public interest.
+
+Crypto exchanges operators act as economic cartel which can distort price formation. See [stablecoin](concepts/stablecoin.md).

concepts/cbdc.md

@@ -0,0 +1,12 @@
+# Central Bank Digital Currency
+A digital currency issued by a [central-banks](concepts/central-banks.md).
+
+## Examples
+
+* Chinese Digital Yuan
+
+## References
+
+* *[@kiff_survey_2020]
+* [@bilotta_cbdcs_nodate]
+* [@nabilou_central_2019]

concepts/central-banks.md

@@ -2,3 +2,14 @@
 
 A financial institution that manages the [[currency]] and monetary supply of a nation state.
 
+The mandate of central banks is often to control domestic employment and maintain price stability of a national currency.
+
+## Examples
+
+* Federal Reserve
+* European Central Bank
+* Bank of England
+
+## References
+
+* [@braun_central_2019]

concepts/commodity.md

@@ -0,0 +1,10 @@
+# Commodity
+
+An asset that is used for its [use-value](concepts/use-value.md) as an input to an economic process.
+
+## Examples
+
+* Petroleum
+* Wheat
+* Pork
+* Aluminium

concepts/crypto-exchange.md

@@ -1,2 +1,4 @@
 # Crypto Exchanges
-A corporate entity that acts as an interemdiary between people to exchange currency for crypto assets. See [market-manipulation](market-manipulation.md).
+A corporate entity that acts as an interemdiary between people to exchange currency for crypto assets. 
+
+See [market-manipulation](market-manipulation.md).

concepts/cryptoasset.md

@@ -5,9 +5,9 @@ A digital asset that is traded on a [[blockchain]].
 ## Comparables
 
 * Zero-coupon perpetual bond
-* Unspendable currency
+* Unspendable [currency](concepts/currency.md)
 * [equity](concepts/security.md) with no cash flows or dividends
-* Commodity with no use value
+* [commodity](concepts/commodity.md) with no use value
 * Exchange traded pyramid schemes
-* Derivative contract with no underlying?
+* [derivative](concepts/derivative.md) contract with no underlying
 * [libertarianism](ideologies/libertarianism.md) performance art

concepts/currency-peg.md

@@ -1,2 +1,3 @@
 # Currency Peg
 
+A [currency](concepts/currency.md) peg is a policy in which an asset is set to a specific fixed exchange rate for its currency with a foreign currency or basket of currencies.

concepts/dao.md

@@ -1 +1,2 @@
 # Distributed Autonomous Organization
+#todo 

concepts/decentralization.md

@@ -1 +1,13 @@
 # Decentralization
+A technical and marketing buzzword use amorphously to refer to an unclear set of aspirations about a technology or community.
+
+In information technology it refers to a type of network topology in which a system has no single point of failure and whose workload or actions are performed in parallel by multiple computers which provide a shared service.
+
+The internet is an example of an decentralized network, 
+
+## References
+
+* [@diehl_decentralized_2021]
+* [@schneider_decentralization_2019]
+* [@bodo_decentralisation_2021]
+* [@zhang_aesthetics_2019]

concepts/deflationary.md

@@ -0,0 +1 @@
+# Deflationary

concepts/derivative.md

@@ -0,0 +1,2 @@
+# Derivative
+

concepts/expected-return.md

@@ -0,0 +1 @@
+# Expected Return

concepts/fundamental-value.md

@@ -0,0 +1 @@
+# Fundamental Value

concepts/gambling.md

@@ -0,0 +1,4 @@
+# Gambling
+An economic activity in which one party pays for the privilege of risking money on a probabilistic activity with negative [expected-return](concepts/expected-return.md). Often gambling games are [negative-sum](claims/negative-sum.md).
+
+Trading crypto assets is often compared to gambling.

concepts/gold-standard.md

@@ -16,4 +16,6 @@ Very few mainstream economists believe the gold standard to be a good way to run
 
 ## Essays
 
-1.  [Ben Bernanke|@bernanke_essays_2004]
+1.  [@bernanke_essays_2004]
+2. [@krishna_when_2017]
+3. 

concepts/greater-fool-theory.md

@@ -0,0 +1,2 @@
+# Greater Fool Theory
+

concepts/ico.md

@@ -2,6 +2,8 @@
 
 Initial coin offerings are proxy [equity](security.md) fundraising structure that allows enterpeuers to raise crypto assets in a common enterprise outside of existing securities regulation.
 
+Initial coin offerings are illegal in the United Statess
+
 ## Citations
 
 * [@kharif_half_2018]

concepts/income-cashflows.md

@@ -0,0 +1,3 @@
+# Income Cashflows
+
+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.

concepts/inflationary.md

@@ -0,0 +1 @@
+# Inflationary

concepts/kyc.md

@@ -1,4 +1,4 @@
-# Know Your Customer Laws
-
+# Know Your Customer
 
+A regulatory requirement where a provider of a financial services product must collect personally identifiable information about its customers in order to mitigate fraud or assist with law enforcement activity. 
 

concepts/leverage.md

@@ -0,0 +1,2 @@
+# Leverage
+

concepts/market-value.md

@@ -0,0 +1 @@
+# Market Value

concepts/mining.md

@@ -1 +1,2 @@
 # Mining
+The technical process of 

concepts/money.md

@@ -0,0 +1 @@
+# Money

concepts/nft.md

@@ -1,3 +1,7 @@
 # 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 percieved notion of ownership in art.
+A type of [smart-contracts](smart-contracts.md) that associates a tradable [cryptoasset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or perceived notion of ownership in art or [sign-value](concepts/sign-value.md)
+
+## Tinkerbell Effect
+
+* [@diehl_tinkerbell_2021]

concepts/present-value.md

@@ -0,0 +1,2 @@
+# Present Value
+

concepts/private-money.md

@@ -0,0 +1,15 @@
+# Private Money
+
+A [currency](concepts/currency.md) issued by a private party instead of a nation state.
+
+## American Wildcats
+
+## Scottish Bank Notes
+
+## Company Scrip
+
+## Town Money
+
+## References
+
+* 

concepts/pump-and-dump.md

@@ -0,0 +1,7 @@
+# Pump and Dump Scheme
+
+A type of market manipulation based on [asymmetric-information](concepts/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.
+
+Pump and dump schemes result in a net wealth transfer from the market at large to an economic [concepts/cartel](concepts/cartel.md).

concepts/pyramid-scheme.md

@@ -0,0 +1,3 @@
+# Pyramid Scheme
+
+#todo 

concepts/security.md

@@ -1 +1,7 @@
 # Securites
+A legal framework in which counterparties to a country are given time-varying rights to [income-cashflows](concepts/income-cashflows.md) according to a contractual agreement.
+
+## Examples
+
+* [stock](concepts/stock.md)
+* [derivative](concepts/derivative.md)

concepts/shadow-bank.md

@@ -0,0 +1,3 @@
+# Shadow Bank
+
+#todo 

concepts/sign-value.md

@@ -0,0 +1,4 @@
+# Sign Value
+
+Sign value denotes and describes the value accorded to an object because of the prestige or social status that it imparts upon the possessor, rather than the [use-value](concepts/use-value.md) and [income-cashflows](concepts/income-cashflows.md) derived from the function or use of the asset.
+

concepts/smart-contracts.md

@@ -3,8 +3,8 @@ A unit of programmable logic that is stored on a [blockchain](blockchain.md) and
 
 ## Examples
 
-* ERC20
 * [dao](dao.md)
 * [ico](ico.md)
-* [AMM](AMM.md)
-* [DEX](DEX.md)
+* [AMM](concepts/AMM.md)
+* [DEX](concepts/DEX.md)
+* ERC20

concepts/stock.md

@@ -0,0 +1,9 @@
+# Stock
+
+A type of [security](concepts/security.md) which grants buyers access to [income-cashflows](concepts/income-cashflows.md) in a common economic enterprise.
+
+Stocks are valued by the market as a combination of three factors which inform price formation:
+
+1. Momentum
+2. Discounted future cash flows
+3. Public sentiment

concepts/terminal-value.md

@@ -0,0 +1,2 @@
+# Terminal Value
+

concepts/use-value.md

@@ -0,0 +1,5 @@
+# Use Value
+
+The feature of an asset which can satisfy some human requirement, want or need, or which serves a useful purpose.
+
+For example the use value of wheat is the ability to produce flour and bread which can provide sustenance and satisfy human hunger and need for sustenance.

dao/uniswap.org.md

@@ -1,6 +1,6 @@
 # Uniswap
 
-Original and one of the largest [[AMM|Automated Market Maker]]s.
+Original and one of the largest [[concepts/AMM|Automated Market Maker]]s.
 
 ![](Pasted%20image%2020220130012621.png)
 

ideologies/post-state-technocracy.md

@@ -0,0 +1 @@
+# Post-state Technocracy

ideologies/techno-collectivism.md

@@ -0,0 +1,2 @@
+# Technocollectivism
+