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Anil ⚡
@anilsaidso
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Author: https://t.co/b8kBHK3zZ7 Teaching: https://t.co/k1sG30nR0A Presentations: https://t.co/4KEybEyEl3 Working on: https://t.co/3nnyU3tiX6
Joined March 2014
@arjunkhemani @NEARProtocol @zcash No one will store wealth in an asset that exponentially decays purchasing power relative to bitcoin, no matter the perceived privacy advantages.
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"1. even a steep exponential curve seems linear when you only look at a tiny slice of it.. 2. exponential growth isn’t totally smooth and uniform. Kurzweil explains that progress happens in S-curves." —@waitbutwhy
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"[At MIT], I studied the structure of scientific revolutions and different types of technology diffusions. Certain things pop out. You’ll often see an S-curve, where [something] starts slow, accelerates, and finally reaches diminishing returns ([at which point] it's not all that interesting anymore). But it’s hard to [know precisely] when the acceleration will start. And once it starts, it’s very difficult to stop."
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"Bitcoin is the first commodity in history with a fixed supply, [something only possible] because it’s digital. Everything else is physical and, therefore, not fixed in supply. Physical commodities are also subject to political constraints, entropic effects, chaos, disorder, fragility, and risk. Bitcoin [on the other hand] is global, programmable, durable, divisible, and portable. I can give you words and rhetoric, but the numbers don’t lie." —Michael Saylor
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@0xCygaar The point is that everyone knows what bitcoin's inflation rate will be in several years (and can verify this on their own node). No sane person is storing long term wealth in a token for which this parameter is unknown or alterable by a management team.
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@nic__carter LBJ, unable to hide inflation during the Vietnam war, advises his Surgeon General to issue a health warning about the cholesterol in eggs to dissuade consumption. 🥚
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