The Nakamoto Collective is almost the only forward looking thing I can think of. 11 years ago, I was unable to get our Prime Broker to take seriously that a small Hedge Fund wanted to speculate on some new concept. It was so cumbersome that I gave up and wrote an essay instead...

I remember the polite discussion about liquidity, clearing, custody, spreads, etc. By the end, they were laughing at us. There is something about *institutional* ridicule that allows those who had just blown up the world to deride others even when the institutions are disgraced.
Bitcoin at the time felt totally sketchy as a financial instrument as it was tied to contraband. But I didn’t see it as money. If I did, I would be unimaginably wealthy if I didn’t lose it all to digital theft, accidental loss or spending it . But I am an idiot in these matters.
The reason I was interested in it was more complex. If Bitcoin was digital gold, and gold was a quantum mechanical wave, then some group had created a:

1) Novel
2) Locally enforced
3) Digital
4) Conservation law

Called the blockchain. And money was but one thing it could be.
Can you imagine. Some group was creating as-if physics inside the network. Bitcoins to me were ‘waves’ propagating not in vector bundles, but on networked computers as substrate.

This was genius. I reasoned at the time that it didn’t make sense to me as a medium of exchange.
And I hated the blockchain. What the Satoshi collective had done was genius. But there should be no ledger. Gold, as a wave, doesn’t tell you where it has been. So instead I dreamed of meeting the Satoshis and getting rid of that damn implementation by using digital bundles.
So, Satoshis if you’re out there, you haven’t needed fame or been eager to cash in. That is likely because you get where this is going. Please find me or someone who can explain how AU works as a wave in a bundle. Let’s build a new digital physics around local conservation laws.
I wrote this 11 years ago. I always thought you’d read it & come find me. You weren’t rich then. You were either a government project, a collective or a lone genius. But you inspired me like little in our time. This was my attempt to get you to reach out:

https://t.co/6rVAj2jQYQ
Thank you. For everything. And congratulations. Not on your wealth, but for giving us all the means of escape. For creating something truly new. And for having it up for for so long and proving the naysayers wrong. I have no words.

What you created wasn’t money but hope. 🙏

More from Crypto

Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon

Short version:

The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.

Oh, and that URL is not the media. That URL is a JSON metadata file

Here's an example. This artwork is by Beeple and sold via Nifty:

https://t.co/TlJKH8kAew

The NFT token is for this JSON file hosted directly on Nifty's servers:

https://t.co/GQUaCnObvX


THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.

So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.

"But you said some use IPFS!"

Let's look at the $65m Beeple, sold by Christies. Fancy.

https://t.co/1G9nCAdetk

That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:

https://t.co/CoML7psBhF

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The chorus of this song uses the shlokas taken from Sundarkand of Ramayana.

It is a series of Sanskrit shlokas recited by Jambavant to Hanuman to remind Him of his true potential.

1. धीवर प्रसार शौर्य भरा: The brave persevering one, your bravery is taking you forward.


2. उतसारा स्थिरा घम्भीरा: The one who is leaping higher and higher, who is firm and stable and seriously determined.

3. ुग्रामा असामा शौर्या भावा: He is strong, and without an equal in the ability/mentality to fight

4. रौद्रमा नवा भीतिर्मा: His anger will cause new fears in his foes.

5.विजिटरीपुरु धीरधारा, कलोथरा शिखरा कठोरा: This is a complex expression seen only in Indic language poetry. The poet is stating that Shivudu is experiencing the intensity of climbing a tough peak, and likening

it to the feeling in a hard battle, when you see your enemy defeated, and blood flowing like a rivulet. This is classical Veera rasa.

6.कुलकु थारथिलीथा गम्भीरा, जाया विराट वीरा: His rough body itself is like a sharp weapon (because he is determined to win). Hail this complete

hero of the world.

7.विलयगागनथाला भिकारा, गरज्जद्धरा गारा: The hero is destructive in the air/sky as well (because he can leap at an enemy from a great height). He can defeat the enemy (simply) with his fearsome roar of war.