For architecture, the result is visibly obvious; we prioritise quarterly profit (to capture 'value' and survive in this fiat environment) at the expense of enduring beauty, which takes more time, consideration and effort to create. Consider the shoddy, uninspiring landscapes that developers have thrown up for the last 40+ years, all in the name of the quick sale. And now contrast with some of the Art Deco masterpieces that we still revere decades later. Is it just coincidence that the 1920s represented the last hoorah of the gold standard, and the start of our path towards flimsy money?
All Things Bitcoin; Incentive Structure
August 13, 2021
Property rights are established by consensus. Time and energy is converted into security. Transactions are transparent. This creates a formidable flywheel; legitimacy encouraging growth, which in turn generates trust, resulting in more legitimacy. And so on. But Bitcoin cannot survive alone on impressive technical credentials. After all, there is a cost to all of this auditing, blocking and chaining. So for the flywheel to keep spinning, we must introduce an economic reward for participation.
Entering The Fray
June 25, 2021
We are now at a critical juncture for the digital asset class. Bitcoin is proven. It is working. It carries a prestige that no other cryptocurrency can match - a truly decentralised store of value. Ethereum can never offer the same narrative of the immaculate conception, digital gold or mythical creator(s). But it can certainly offer value in other ways (see my recent notes on the Metaverse). So why expend so much precious energy on fighting this network (and others)?
Highway to the Metaverse
June 16, 2021
The digital arena has become far more interesting. Much like a developed country offers property rights via law and order, metaverse platforms can offer property rights through code. And with rights we acquire value. With value we attract motivation. To build. To sell. To buy. To cooperate. To do anything. It begins to sound much more like a functioning economy rather than a mere game.
Ten Years. Not Ten Months.
May 21, 2021
When I enter the twitter bear pit and see howls of anguish on one side, and cries of joy on the other, I head straight for the middle. I remain composed and think about the low time preference world that I believe is emerging. Nothing is certain, of course. But quiet conviction lets me navigate the shifting sands of sentiment.
Compare and Contrast
May 13, 2021
This is where I used to offer services for property advice. Nothing too controversial. But gradually, as I've continued on my digital journey, it's become something incredibly exciting (for me at least). Instead of hashing out the same advice over and over again, I publish my ideas just once. And once online, they are free for anyone to digest, forevermore.
The Burgers Are Better
April 22, 2021
The environment that encouraged motorway building, out-of-town shopping, suburbia, commuting, office managers, living-for-the-weekend, career politicians, central business districts, etc. etc. etc. That came about because our motivations aligned with these outcomes. We Wanted This.
Friday Reflections, Volume VI
April 16, 2021
As ever, when I am navigating an uncharted path, I consult with my gut. I seek a free proposal for life changing decisions. And he's pretty damn good at it. You should try him. In the pursuit of digitise myself I had rediscovered all sorts of innate satisfactions. Writing being one of them, of course.
Unsubscribe at any time.
We won't come looking for you.