The future

Right now, equities and crypto seem correlated, with many claiming both are risk-on assets driven by global liquidity. That’s wrong. Equities are a risk-on asset within the carry trade, fueled by global liquidity; Bitcoin, however, isn’t part of anyone’s carry trade—yet. And for good reason.

At its core, Bitcoin is the anti-carry trade asset. Its n... See more

A “40%” allocation within this construct can include investment expressions like AI or culture assets, poker/sports gambling income, biotech IP: these assets transform energy-intensive labor into income without leverage, and high payouts.

What you find here is that at a high level, highly resistant assets are by definition likely to share attributes of being decentralized, scarce, and timeless. This is the radical way we must imagine portfolio theory. We must live our lives within institutions for the most part (60%), but we also need to live our private lives away from such institu... See more

1. We believe the world is becoming more centrally managed than ever before, yet with growing unease and fragility in its interconnectedness alongside the meteoric rise of HPC-driven autonomous decision models - in money, but also in fundamental human rights. Therefore we must hedge against this artificial centralization by seeking a custody model out

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1. First, we must accept that there is no absolute truth in social sciences like economics. We believe the opposite of misinformation is not truth, but rather state-controlled information - where narratives are crafted to align with authority, rather than being inherently true or false. One person’s martyr is another’s terrorist; one person's coloniza

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Today, crypto tokens are the latest protocol innovation to expose a disruptive new model. Just as BitTorrent allowed us to exchange packets of information instantly and without an intermediary, crypto tokens let us distribute value in the same way.

As the role of the individual in value creation becomes more commonplace, the next evolutionary step is toward software that is not only built, operated, and funded by individual users—but owned by users too.

For almost 16 years now, Bitcoin has been the dominant cryptocurrency network despite thousands upon thousands of competitors and several forks. Anyone can copy it, but like copying Wikipedia or Ethernet or any of these other examples, those copies start with a nearly infinite disadvantage due to not sharing in the existing network effect. Bitcoin’... See more

Technologies like Ethernet, Internet Protocol, Simple Mail Transfer Protocol, and Universal Serial Bus are among the key communication standards of our day. Of those, USB is the youngest at 28 years, while some of the others on that list are over 50 years old and still going strong. When a protocol wins out over competition in its adoption phase, i... See more