It must be refusal, right?

If iPhones were as fungible and easy to buy and sell as cryptocurrency, you could buy them, use them and then sell them back again in the market right afterwards.

They would magically show up in your hands, you would then search something in google, write an email, scroll twitter and then magically disappear to be available for someone else in the international iPhone exchanges.

If on average you use an iPhone for 3 hours daily or 12,5% of your day, and the cost of transaction would be negligible, you would perform this operation several times a day until covering…

At an early stage, hodlers/bitcoin owners was a very small ratio

I know I suck at painting stuff, but I hope I can explain my point better within the next paragraphs.

In the image:

  1. Hodlers are represented by the orange color. They are users because they understand Bitcoin’s extremely low cost of storage / maintenance / deterioration / inflation. They are speculators, but in the very long run, and their speculation is based on the bet that they will hardly ever have to sell their coins.
  2. The green color is the (still) huge number of people who still don’t get Bitcoin but own it only as short term speculators (STS). They…

Likely the most important invention in the history of humankind
  1. There is no such thing as altruist cooperation with strangers, that’s why we use money, ultimately a reputation system (Selfish gene)
  2. If the system is not good enough, we need to trust 3rd parties for things like transportation, storage or property transmission of value to name a few.
  3. Because of 1, 3rd parties will only work in their best interest, not in that of strangers, typically understanding strangers as those beyond the Dunbar number (around 150 people your neocortex is able to manage information from)
  4. As a result socialism can’t work. Socialism sells you the idea that by sharing things…

Ideologies have not addressed the root cause of the problem that Bitcoin may solve

Until Bitcoin, I really didn’t have clear political views. I knew for sure every single politician sucked but didn’t really grasp why.

I focused on the fact that the world is now way better off than hundreds of years ago and as a result concluded that the current system is better than all alternatives.

I now believe that I should have not settled and instead should have expected more.

Escaping the Malthusian trap meant a few hundred years ago that we needed a scalability in money that only 3rd parties could provide. …

According to the Selfish Gene book, we only want to exchange value or cooperate with strangers when there is an inmediate exchange. If we postpone this exchange, we are very likely to cheat (and even in the case we are not strangers!).

We are some serious cheaters according to this fascinating book and I agree.

Unless you believe we prefer to satisfy everyone else’s needs before our own, you must necessarily agree with this book, and this is important, because it explains money very well.

If you can’t give me something I value right now (barter), I want you to…

Something many bitcoiners fear is what happens if Bitcoin starts succeeding to the point it becomes annoying for Governments.

There is no doubt that unless you are an absolute privacy expert, which are the minority of Bitcoin holders I dare say although definitely increasing, you could be subject either to a fair amount of pressure from authorities or in the worst scenario to several different kinds of pain.

If that ever happens, it will prove Bitcoin’s need in the long run, but at that point none of us will be interested in the long run but in a short term…

Maybe when “orange number go up”

It’s been a while that I’ve been wondering what the future holds for the value of real estate in a bitcoinized economy and I think I’ve finally reached a few conclusions.

If you believe as I do that Bitcoin is a black hole for moneyness, there is no doubt that the largest chunk of real estate’s value will move towards Bitcoin.

But in my opinion this will not happen homogeneously.

First, a Bitcoinized world should after some time, create important progress and that should make real estate an interesting second diversification investment for a small (in relative terms) part of…

EIA’s sources of electricity generation forecasts

A little bit of forecasting.

Roughly this picture says that coal + gas electricity generation will rise from approximately 12.000TWh to 19.000Twh, so around a 60% increase in the next 30 years, and I think it is optimistic.

Who would have thought?

Well, anyone paying just a bit of attention really.

If you consider that 2/3 of the population are poor and consume per capita on average 80% less than those countries consuming the most per capita, and taking into consideration that this is a growing part of the population worldwide, it shouldn’t be a surprise that they also want…

Whenever an oil pipe is not enough, you need to store it as cheap as possible

I can’t stop thinking about the striking similarities and analogies among commodities, energy markets, Bitcoin mining and Bitcoin itself.

If you think about it, every single commodity, in order to satisfy a need, needs to be transported wherever it is demanded, therefore it needs to be transported over space.

But whenever a bottleneck arises in the transportation capacity or if the demand doesn’t match in terms of time that of supply, you need to make it travel through time, that is, to use proper storage, minimizing deterioration of this commodity.

Transportation and storage are two sides of the same coin…

I frequently come across, like I guess most of you, people who repeat the mantra of “Bitcoin has failed” or “Bitcoin is going nowhere”, blah, blah, blah.

As I recently said in twitter, I find it hilarious; when I hear/read this, I have the same feeling as if someone told me my home or my computer have failed.

If value is subjective, who do you think you are to tell me something that I find useful has failed for me?

I can agree with you that my house or my computer may suck to your standards, but how can you…


family man

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