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Daniel Krawisz


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Crashes and Hyperinflation

Daniel Krawisz

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?

Daniel Krawisz

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.

Reciprocal Altruism in the Theory of Money

Daniel Krawisz

That monetary behavior is a form of altruism, and of reciprocal altruism in particular, has been demonstrated by relating the properties of money to the definition of reciprocal altruism and to its required features.

Don’t Panic

Daniel Krawisz

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

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Bitcoin’s Compound Rewards

Daniel Krawisz

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.

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The Two Ideologies in Bitcoin

Daniel Krawisz

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.

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Bitcoin's Rugged Individualism

Daniel Krawisz

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.

Bitcoin's Shroud of Subtlety and Allure

Daniel Krawisz

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 is the Best Unit of Account

Daniel Krawisz

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 to Market Bitcoin

Daniel Krawisz

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!

The Proof-of-Work Concept

Daniel Krawisz

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.