Daniel Krawisz

Research


Reciprocal Altruism in the Theory of Money - December 8, 2014

The Memory Pool


Crashes and Hyperinflation - January 08, 2017

This article is about how money interacts with the rest of the economy after it has matured and about how mismanagement by an issuer can cause it to fail.


Who Controls Ethereum? - August 07, 2016

If it became easier for people to trade different forks of the same currency, then investors could get direct experience with different ideas without endangering the network.


It's Not About the Technology, It's About the Money - July 13, 2016

If someone says “blockchain tech” to you, you might as well walk away right there. They’re just trying to sell you on their new decentralized crowdfunded blockchain tech internet of bitthings appscam.


Ethereum is Doomed - June 20, 2016

I fully support the attacker’s actions, and I wish I had thought of it first.


Who Controls Bitcoin? - February 08, 2015

Bitcoin upgrades must be a clear improvement to Bitcoin as an investment or else they face a sharp uphill battle to adoption.


Bitcoin as a Store of Value, Unit of Account, and Medium of Exchange - January 12, 2015

Bitcoin has the right properties for the world’s money, and the more the world comes to terms with this, the more stable it will become.


The Fappening — Brought to You By The Information Marketplace - September 03, 2014

Bitcoin makes conspiratorial group cohesion more difficult. If the Fappening took place as I described, then this effect is right at the center. The possibility of getting bitcoins by releasing secrets caused the group to fall apart.


Bitcoin’s Compound Rewards - October 25, 2014

The difference between Bitcoin and a Ponzi scheme is that in a Ponzi scheme, the early adopters benefit by cashing out. With Bitcoin, there is no reason ever to cash out.


Babysitting Bitcoin Skeptics: A Response to Krugman and Gobry - November 30, 2014

Krugman’s article and Gobry’s follow-up are confused, do not establish their case, and say nothing about Bitcoin.


Don’t Panic - November 22, 2014

Working in the Bitcoin world is like working for a drug addict with bipolar disorder.


The Two Ideologies in Bitcoin - October 04, 2014

There are two ideologies in the Bitcoin world. They are not political ideologies; they are different visions of Bitcoin’s place in the world and how adoption will happen.


The Legacy of the Dread Pirate Roberts - July 10, 2014

All Bitcoin entrepreneurs today build on top of the success of the Silk Road. Their work was made possible by his.


Bitcoin's Shroud of Subtlety and Allure - June 29, 2014

Potential Bitcoin attackers are in a Prisoner's Dilemma. In the same way that the people cannot easily rebel against the king owing to a lack of coordination on their part, governments cannot rebel against Bitcoin for the same reason. The government puts the people in a Prisoner's Dilemma against one another, and Bitcoin does the same to government agents.


Bitcoin's Rugged Individualism - June 29, 2014

There is a fundamental agency problem with Bitcoin: agents can disappear or simulate a heist upon themselves. They cannot rationally be trusted without extreme costs being imposed on them which are more stringent than traditional banks.


Appcoins Are Snake Oil - May 24, 2014

Appcoins are a terrible idea.


The Correct Strategy of Bitcoin Entrepreneurship - May 16, 2014

Don't be a venture capitalist—be a speculative philanthropist.


Bitcoin is the Best Unit of Account - May 10, 2014

Someone still lost in the dollar world looks at Bitcoin and sees wild and extreme volatility, whereas someone in Bitcoin looking back at the dollar sees the worst and longest economic crash in history.


How We Know Bitcoin Is Not a Bubble - May 03, 2014

The difference between money and a bubble is that a commodity whose price is a bubble actually has some underlying value.


How to Market Bitcoin - April 26, 2014

Does Bitcoin need to be sanitized and separated from its anarchist, black-market roots in order to become acceptable to the general population? Absolutely not!


Hyperbitcoinization - March 29, 2014

Government currencies will rapidly lose value as Bitcoin supplants it. What will such an event be like and how can it be understood economically?


The Coming Demise of the Altcoins (And What You Can Do to Hasten It) - March 14, 2014

What falleth, that shall one also push!


Bitcoin Has No Image Problem - February 25, 2014

The best way to improve Bitcoin’s image is simply to improve the Bitcoin economy.


I'm Hoarding Bitcoins, and No You Can't Have Any - February 12, 2014

The real hero is the hoarder.


Why Bitcoin Will Continue to Grow - February 01, 2014

For now at least, Bitcoin’s present trend is self-reinforcing with no equilibrium in sight.


I Love Bitcoin's Volatility - January 28, 2014

Those who worry about Bitcoin’s volatility fail to understand what it actually means for Bitcoin.


Mastercoin is a Nightmare of Insanity - December 20, 2013

No one should ever use Mastercoin under any circumstances or appraise their value as anything above zero.


The Problem with Altcoins - August 22, 2013

In short, the altcoin phenomenon is the product of greed and bounded rationality.


The Original Value of Bitcoins - July 02, 2013

Once it was known that bitcoin could be sold, even for a pittance, new possibilities opened up.


The Proof-of-Work Concept - June 24, 2013

Proof-of-work should not be seen as a mysterious or wasteful system, but as something functional, natural, and potentially of value for the design of any communication protocol.


Crypto-Anarchy and Libertarian Entrepreneurship - Chapter 4: The Risk from the Software Industry - June 05, 2013

Stay one step ahead of the government and don’t get embroiled in politics.


Crypto-Anarchy and Libertarian Entrepreneurship - Chapter 3: The Killer App of Liberty - May 29, 2013

If Bitcoin becomes money, the government’s control of money will have ended.


Crypto-Anarchy and Libertarian Entrepreneurship - Chapter 2: Public-Key Cryptography - May 24, 2013

Public-key cryptography is the greatest tool of liberty ever devised.


Crypto-Anarchy and Libertarian Entrepreneurship - Chapter 1: The Strategy - May 22, 2013

With cryptography, one libertarian inventor can create an entire libertarian society.