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Its creator, the pseudonymous Satoshi Nakamoto, gave it all of the qualities of cash, but in a digital format: peer-to-peer transfer of a currency in the absence of any intermediary that is pretty much anonymous — only wallet IDs are shared. Speaking of math, doing it helps explain that big billion dollar-plus number.
That’s just the math. The remaining money was leveraged into the financialsystem. And this was accumulated into the financialsystem and financial markets. If you’re not in it, you’re not going to benefit from the upside. As a result, the money just tsunamied upward in a very short period of time.
And I did a lot of options math, which I thought was interesting. 00:12:54 [Speaker Changed] Well, what was interesting is, particularly for the segment of the markets the fund was focused on, which is really smaller, mid cap, private equity and private credit, they were pretty unaffected by the global financial crisis. Makes sense.
It’s like being asked to figure out the solution to one of those unsolved math problems that mathematicians work on for years before they go insane. Now, of course, there are lots of frictions with national and global financialsystems, and there are certainly better ways of doing things. WhatsApp did it, why can’t I?
and what cross currency basis, et cetera, takes a while to assimilate at all. The dollar is the reserve currency in the world. You know, started with Bear Stearns, and then all of a sudden, financial institutions are levered entities. And you know, you have whether it’s derivatives, the intertwined financialsystem.
The ability to use an anonymous single currency to power a decentralized, permissionless distributed ledger operating over the public internet where miners compete to solve the math problems that enable the processing of transactions is a remarkable innovation. The Crypto Has No Clothes. In concept. The Need for a Balanced View.
They said at that moment they were selling crypto as it’s gonna replace fiat currency. And they put some Bitcoin on my phone and we walked into Palo Alto to the one coffee shop that accepted Bitcoin as currency. Because he was all sure he was a totally isolated math. So, so he’s brilliant at math. Oh, really?
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