8-1b3d Monetary policies can come first and the currency circulation can come later (or symbiotically-simultaneously), not vice versa (i.e., bottom-up vs top-down)

11-1 Trading-Market-Finance-Investment-Speculation
7-1a2a1 絶対に勝てるところから勝っていく
7-1a2a3 Win at the corner then come back (傾く・バロック)

7-1d2a The relation between technology and the problem-situation (i.e., culture and mind) is reflexive

• Crypto makes macroeconomics an experimental subject

  • Monetary policies and the utility of central banks will be commoditized, because technically anyone can set their own monetary policies!
    • Commoditization = Meritocratic ?develop
      • 7-1e We ask ‘what is the rich doing’ because they are the ones who have the resource to experiment with to find ways to cheapen the means of production
    • 2-1c1a4 ‘Commoditize your complement’ tactic

• Monetary policies can be implemented individually with negligible initial cost for failing (9-4e2f The low initial cost of starting a startup ⇒ Investors need founders more than founders need investorsdevelop )

  • Cryptocurrencies are to expand (ideally) due to its merit, rather coercively interfered with! (See 8-1b3 The software can control the hardware)
    • Think about how current technology (i.e., blockchains) can realize Spitznagel’s ideal monetary conditions!Spitznagel
      • 8-1b3e Software will be at the intersection between ideological and economical
        • Right now, you might own the business but not the currency. But this will change!own
          • 6-3a1 You have to own your own creation. The difference between creator and influencer is the gap of digital property rights.

• 3-1a4c’ Crypto can integrate culture of each network unlike top-down Western global capitalism which did away with the cultural aspects of communitiesdevelop

  • 3-1a4b 情報文化史 = 経済文化史 (経済と文化はそもそも独立して存在しない)

• 3-1a4e システムとユーザーはつながっているだけでなくハウリングしあっている

  • Obviously, community and ‘monetization’ works rather reflexivelyreflexivity
    • 6-3b4d Community first, monetization later; morality first, money second; missionary over mercenary

• Proper incentives usually lead to proper results

  • E.g., long-term restriction
    • Remember: 5-1b4a Amara’s law - we expect too much in the short-run, but too little in the long-run

8-1b3f1 You can value tokens using traditional financial metrics (e.g., PE ratio) by studying the cash flows and burn rates of blockchain networks