Why is it so difficult to understand what Bitcoin involves?

Because it affects various mental models.

Thread.

Inflection Point / Critical Mass:

The increase in the liquidity of the FED in 2020 due to Covid has generated a turning point in the BTC.

Investors have gone from thinking of BTC as a risky asset to thinking that the risk is not having it, increasing confidence towards it.
Compound Interest / Velocity:

The BTC has gone from $400 to $40k in 5 years, which represents an annual return of 150%, 15 times more than the average stock market return.

This has been one of the largest and fastest creations of wealth in history.
Scarcity / Supply and Demand:

The greater the scarcity of an asset, the greater its value.

As BTC becomes popular, its demand increases, while its supply does not vary. Which makes the price go up.
Cooperation:

The BTC is decentralized.

Their trust is not based on the authority of a central bank, but on the cooperation of the population.

The greater the cooperation, the greater the trust and therefore the greater the value.
Opportunity cost:

More and more investors think that the opportunity cost of not having BTC is greater than having it, and therefore they buy it and its price continues to increase.

MOFO thinking increases.
Social-Proof Tendency / Feedback Loops:

We are social animals.

The more popular BTC is, the more we think we should buy it, and this increases its popularity and its price, making more people want to join and buy.
Network Effects:

In network-based systems, the first participant usually has a definite advantage over the followers.

There are other currencies similar to BTC, but its popularity means that the more people are connected to BTC, the more powerful it will be.
Incentives / Principal-Agent Problem / Inclusive Economic and Political Institutions:

Fiat currencies are issued by the agent (central banks), who don't have the same incentives as the principal (the population), devaluing the currency.

Especially relevant in corrupt countries.
Black Swan / Antifragility / Resilience:

Globalization increases the impact of unforeseeable events. Covid in 2020 is a good example. Faced with all these events, safe haven assets increase in value.

The greater the crisis, the greater the value of the safe haven assets.
Creative Destruction / Historic Recurrence:

For there to be progress, old models must be destroyed.

The monetary standard has changed throughout history, from salt to the dollar, to silver and gold.

Many think that BTC will be the new monetary standard.
If you want to think from mental models, get your copy:

https://t.co/IA6hnR1Lp6

More from Crypto

Lots of people are sleeping on one the biggest things @quant_network is currently involved in-ODAP (Open Digital Asset Protocol).

So what is exactly #ODAP and why this makes $QNT one of the most significant and, regarding #crypto mcap, undervalued projects?

Time for a THREAD⬇️


1/ODAP is the protocol for communication between gateways, primarily with an enterprise focus.
So banks, central banks etc. would run a gateway in Overledger Network and ODAP would be the protocol for gateways to communicate with each other in a secure and trustless manner. $QNT


2/ #ODAP Interfaces are the open source connectors that will connect a gateway to #blockchains and any existing network / API. That is based on the standards from work done at ISO TC 307 which 57 countries are working towards.
$QNT CEO Gilbert Verdian is the founder of TC307.


3/We know from the submitted drafts via #IETF (the Internet Engineering Task Force) $QNT is working on #ODAP with:

✅@MIT

✅@intel

but, there’s more to the story as we found out from Gilbert that US Government, Juniper, payment and telecom companies are also there.


4/So how it all started with #ODAP?
Let’s go back to $QNT CEO Gilbert Verdian’s interview with Santiago Velez on #RealVision (October 14th) and try to put all the pieces of the puzzle together.
I’ll forward his words ⬇️
You are running out of time to get ahead in cryptocurrency.

You know what's coming:

🔺️ Regulation
🔺️ More shutdowns
🔺️ Banks deciding who gets to do business

It's time you got your own crypto wallet.

Don't know how? I'll show you.

/////THREAD\\\\\

METAMASK

What's metamask? It's a wallet. That you -- I mean YOU -- own.

You see, when you buy crypto through an exchange like CoinBase, you own it but only kind of.

If they get

🔺 Hacked
🔺 Shutdown
🔺 Servers crash

-- your money is STUCK.

We are gonna avoid that 👇


First thing,

Go to

https://t.co/JXAp9o5RzJ

You can download it on your computer. It's a browser extension.

Alternatively, go to the app store on your Android or iPhone. It's there too.

As part of the setup process, you will choose a password.

More importantly though...

SEED PHRASE

As you follow the setup process, you will be given a 12-word seed phrase.

WRITE. THIS. DOWN.

Take it down and guard it like the map to Davey Jones' Locker.

THESE ARE THE ONLY WAY TO RECOVER YOUR ACCOUNT.

DO NOT LOSE.

We good? Great.

Let's continue.


Once you're all setup, your MetaMask wallet is going to look something like the picture below.

See where it says Crypto Address? That's where your actual address will be.

It'll be a random arrangement of letters, numbers, etc.

Click on it to copy to your clipboard

NEXT STEP

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**Thread on Bravery of Sikhs**
(I am forced to do this due to continuous hounding of Sikh Extremists since yesterday)

Rani Jindan Kaur, wife of Maharaja Ranjit Singh had illegitimate relations with Lal Singh (PM of Ranjit Singh). Along with Lal Singh, she attacked Jammu, burnt - https://t.co/EfjAq59AyI


Hindu villages of Jasrota, caused rebellion in Jammu, attacked Kishtwar.

Ancestors of Raja Ranjit Singh, The Sansi Tribe used to give daughters as concubines to Jahangir.


The Ludhiana Political Agency (Later NW Fronties Prov) was formed by less than 4000 British soldiers who advanced from Delhi and reached Ludhiana, receiving submissions of all sikh chiefs along the way. The submission of the troops of Raja of Lahore (Ranjit Singh) at Ambala.

Dabistan a contemporary book on Sikh History tells us that Guru Hargobind broke Naina devi Idol Same source describes Guru Hargobind serving a eunuch
YarKhan. (ref was proudly shared by a sikh on twitter)
Gobind Singh followed Bahadur Shah to Deccan to fight for him.


In Zafarnama, Guru Gobind Singh states that the reason he was in conflict with the Hill Rajas was that while they were worshiping idols, while he was an idol-breaker.

And idiot Hindus place him along Maharana, Prithviraj and Shivaji as saviours of Dharma.