Cryptocurrency is one of the most important and misunderstood concepts of our modern age. It's also been the subject for some of our biggest and most important notes. We've praised and disparaged and challenged what crypto is and what it can become.
The MacGuffin is the object of desire.
It is the thing around which the plot of the story revolves.
Here is the story arc of SBF and FTX, and the MacGuffin that anchored it all – the Magical Money Machine.
If you don’t see that the crypto “industry” has become just as blindingly corrupt, just as oozingly fatuous, just as profoundly captured by the Nudging Oligarchy as the traditional financial services industry it was supposed to replace … well, you’re just not paying attention.
The Green Protocol is a set of rules for the tokenization of symbolic betting markets in positive social good.
I think this is how crypto saves the world.
Our first step on this new path? Let’s plant one billion new trees in North America over the next ten years.
I want to change the language of crypto from mining to growing. I do not mean this in a metaphorical sense. I mean a proof-of-plant method for literally growing cryptocurrency tokens as a representation of the value stored in the human cultivation of plants.
Bitcoin has been subverted by the neutering machine of Wall Street and the regulatory panopticon of the US Treasury Dept.
What remains is a constructed narrative that exists in service to Wall Street and Washington rather than in resistance.
What made Bitcoin special is nearly lost, and what remains is a false and constructed narrative that exists in service to Wall Street and Washington rather than in resistance.
The Bitcoin narrative must be renewed. And that will change everything.
Mark Zuckerberg is not The Spanish Prisoner. He’s the guy running the con.
Libra, the cryptocoin promoted by Facebook, is a classic Spanish Prisoner con. This is how the State and the Oligarchy co-opt crypto. Not with the heel of a jackboot. But with the glamour of convenience and narrative.
The inevitable result of financial innovation gone awry, which it ALWAYS does, is that it ALWAYS ends up empowering the State. When too clever by half people misplay the meta-game, that’s all the excuse the State needs to come swooping in and crush them, just as they are with Bitcoin today they did with Bear and Lehman in 2008. Installment #10 from Notes from the Field.
In structure, Bitcoin is a bearer bond.
In meaning, Bitcoin is the cautious expression of a rebellious identity.