The cryptocurrency market is inefficiently priced because of information asymmetry and pervasive cognitive bias such that black swan-type events are possible and already occurring. In the last few years, nearly any investment in low market capitalization cryptocurrencies has been, to varying degrees, a high beta call option for the cryptocurrency…

The Bitcoin whitepaper was released in 2008 by an anonymous person by the name of Satoshi Nakamoto. He named the paper “Bitcoin: A Peer-to-Peer Electronic Cash System” indicating his intent for Bitcoin’s future. Of course, Bitcoin has turned out to be anything but P2P cash. Nakamoto succeeded in creating a…

By Parker on The Capital — In Machiavelli’s famous work, The Prince, the Italian philosopher asserted, “I hold it true that Fortune is the arbiter of half our actions, but that she still leaves us to direct the other half, or perhaps a little less.” One of Machiavelli’s greatest critics, Fredrick The Great, who wrote a…

By Parker on The Capital — Recently, billionaire and fund manager, Paul Tudor Jones declared on live TV that he has nearly 2% of his assets in Bitcoin in response to the Fed’s quantitative easing measures and government stimulus. It is near consensus among financial experts and managers like Jones that a major decline is coming…

And what that means for Ethereum — As a built-in mechanic, Bitcoin cuts issuance in half every four years. There have been two issuance halvings since BTC’s creation in 2008. The first “halving” caused a bull run that ran for an entire year. The gains were ludicrous by any standard and peaked out at +9200% — from…

The billionaire investor Michael Steinhardt required of his interns the following framework for pitching an idea: He should be able to tell me, in two minutes, four things: (1) the idea; (2) the consensus view; (3) his variant perception; and (4) a trigger…

Recent history has shown us what Bitcoin is not. In times of high volume, Bitcoin is continually burdened by a fundamental inability to scale with high fees and slow transaction times. This constrains Bitcoin to one use-case and one narrative that has been adopted by even the smartest commentators in…

If you have read my posts over the past year you know I have reiterated a few key points. The first is that Ethereum’s future is reliant on the implementation of Proof-of-Stake (PoS). The second is that Bitcoin’s utility is steadily declining. The last is the inevitable arrival of blockchain…

There are many Ethereum fallacies that dissenters continually cite as reasons for why Ethereum should fail. Here I will attempt to “strong man”, as opposed to “straw man”, the 3 Ethereum fallacies I read most often. …