This is The Block. Every so often it’s important to revisit some basic economic principles in order to bolster our understanding (or belief) in the underlying fundamentals of cryptocurrency. But every so often you run across a leap in intuition that brings things further into focus.
To wit, please visit the tweet below and read the whole thread. It’s succinct and yet contains an entirety of a philosophical motion for Bitcoin’s (and cryptocurrency’s) pre-eminence as a problem-solving device–namely, removing or at least reducing conflict within society.
It’s such a unique take on the idea of money-as-an-instrument that I felt like it was worth re-posting here for you to enjoy and hopefully gain some new meaningful insights in the process.
1/ In this thread I make a philosophical argument for Bitcoin being a socially scalable contribution to conflict prevention in society, contrasting it with the current system of monetary interventionism.
11:47 AM - 21 Jun 2018
1 Month of Crypto and Not a Thai Cave
No comment, other than, “Ouch!”
No, that’s not a diagram of the twists and turns of a Thai cave. But it could be an indication of a price reversal. Or it might just mean Bitcoin will continue to be under water. Like a Thai cave.
The first half of 2018 has seen more than US$750 million worth of cryptocurrency stolen from exchanges, nearly three times as much as in all of 2017. The losses could rise to US$1.5 billion this year, according to a new report by CipherTrace.