We’ve been around CT for a few years, and while the road still appears curvy, we believe the pieces are moving into place and the destination becomes more clear with each passing day. The following people are all pioneers, when they speak you should listen.

1/ “Bitcoin is better at being gold than gold” - SkyBridge Capital

@Scaramucci 's SkyBridge Capital released their investment thesis for their new Bitcoin Fund LP. They go a step further than other investors in why they are actively choosing bitcoin over gold

A thread 👇

2/ SkyBridge Capital’s main fund, with $9.3B AUM, had invested ~$182M in BTC. In Dec., they announced they were raising a new, separate Bitcoin only fund and already transferring ~$25M of BTC into it

3/ Today they opened to accredited investors w/ min invstmnt of at $50K. This Bitcoin LP won’t trade BUT you only pay 0.75% annual fee and no premium, the portfolio is priced by Bloomberg’s fixed rate (XBT). In contrast, GBTC trades OTC, a 2% yr fee, and a premium to BTC’s price

4/ Their website is a vast library of info. Not just their Offering Memo, pres. & investment thesis. It also includes:
- FAQ videos (Michael Saylor features and Scaramucci has cited him as a major influence)
- Readings on Bitcoin (@real_vijay The Bullish Case for Bitcoin)

5/ Towards the bottom of the page, they also take a dig at GBTC’s premium and offer to walk through a “GBTC swap” to their fund. They understand the hurdles that many traditional investors face in investing into BTC and lean into it

1. Ultimate blockchain, NFT and crypto learning thread 👇

(warning 100's of hrs of content)

2. @CalBlockchain 's Spring 2021 fundamentals course: slides and

3. @tferriss @naval and @NickSzabo4 's podcast about crypto and

4. Similar one to previous but @tferriss, @naval and @VitalikButerin 's podcast on scaling, ETH, NFTs and

5. @a16z Crypto startup

Lindy Effect 101

With Bitcoin's return to the spotlight, debates on its long-term viability are raging. Its proponents contend @nntaleb's Lindy Effect says the technology is here to stay.

But what is the "Lindy Effect" and how does it work?

Here's Lindy Effect 101!

👇👇👇

1/ First, a few definitions.

The Lindy Effect is a theory that the future life expectancy of specific non-perishable items, like a technology or idea, is proportional to their age.

Put simply, the longer it has already lasted, the higher the likelihood it will continue to last.

2/ The term "Lindy effect" is a reference to Lindy's, a New York deli frequented by comedians in the 1960s.

While author Albert Goldman used the term "Lindy's Law" in a 1964 article, it was mathematician Benoit Mandlebrot who moved the dialogue towards the current definition.

3/ In his book, entitled The Fractal Geometry of Nature, Mandlebrot commented that the more stage appearances a Lindy's comedian made, the more future appearances he could be predicted to make.

The longer he lasted, the longer he would continue to last.

4/ @nntaleb built upon Mandelbrot's work, formally coining the term "Lindy Effect" in his book, Antifragile.

He noted the Lindy Effect with books - the longer a book has been in print, the longer it is likely to survive.

With no natural upper bound, power laws come into play.

With Bitcoin's rising price I get many people asking me my opinion about it: Here are nine tips

1) Don't take advice about Bitcoin from those with a vested interest in seeing its price rise. That's like listening to CDO dealer in 2006. When prices go up, critical thought go down

2) Bitcoin is fascinating from a tech perspective, but don't fall for the rhetoric of monetary revolution. I was among the early users of Bitcoin & actually tried to use it as 'money', but it's not a monetary system. It's a system of cyber-collectibles, priced in dollars

3) By all means pass your money to a seller of these collectibles, but don't do so under the illusion that you're engaging in rebellion, or that you're doing prudent investment. You're doing what you're doing, which is buying a collectible from someone who is taking your money

4) Unlike many other collectibles, Bitcoin has no actual features, other than the fact that it can be moved around. It has a highly innovative issuance & movement mechanism, but that's somewhat meaningless if the thing being issued and moved is featureless

5) In fact, its only feature is its logo and the language that surrounds it. Without that the tokens are basically just blank digital objects, the digital equivalent of passing around fragments of limited edition clear glass beads

What happens to your cryptocurrency when you die??

A thread...

Did you know it’s illegal to log into a dead person’s crypto account?

So if you're a crypto investor and you died today, who reaps your fortune?

No one, technically, unless you name a beneficiary in your will. And it's a big deal as ~3.7M bitcoins, $140B is unrecoverable (excluding the 10k+ other cryptocurrencies) since the investor either lost their password or died intestate.

And you can’t just “reset” the password. This is because, when the cryptocurrency network confirms passwords to allow transactions, it does not see or know the password itself!

This complex algorithm keeps the system decentralized. So a lost password is lost money.