Macro investor Lyn Alden: Equating Bitcoin with “crypto” is a misunderstanding

Satoshi Nakamoto combined many existing technologies (Internet, Hash Tree, Proof of Work, SHA-256), added some of his own, and made some innovative things. It can be said to be a breakthrough innovation in accounting and currency.

Most of what came after Bitcoin was a scam. But his innovations are real.

I believe the concept of “digital scarcity” is an inevitable discovery following these technologies. However, Bitcoin itself is an invention. The first finder could be a liar. But Satoshi Nakamoto is not a liar. He has a pure mind, a well-intentioned design.

Macro investor Lyn Alden: Equating Bitcoin with "crypto" is a misunderstanding

Note: Before joining the SEC, I had the privilege of doing research, writing and teaching related to finance and technology at MIT. This includes courses in crypto finance, blockchain technology and currency.

In this work, I came to believe that in the crypto space, despite a lot of false hype, the innovation of Satoshi Nakamoto is real. In addition, it has been and will continue to be a catalyst for change in the financial and monetary fields.

At its core, Satoshi Nakamoto is trying to create a form of private money without a central intermediary such as a central bank or commercial bank.

—Gary Gensler, current SEC Chairman, August 2021

Satoshi Nakamoto never promised a return on investment. He pitched his ideas like an academic paper and built Bitcoin. He started to worry when Bitcoin adoption became a trend, and it was too early to worry about it all. very conservative. Very cautious. (Creating Bitcoin) out of humanitarianism, not to make money.

People should look into Bitcoin, which can survive eight 50%+ drops and continue to create new ATHs without anyone saving the market. Equating “crypto” with “Bitcoin” is a misunderstanding of both. There are risks in everything, but at least study Bitcoin, learn from it, it’s worth spending over 100 hours on it.

Macro investor Lyn Alden: Equating Bitcoin with "crypto" is a misunderstanding

I am a conservative value investor. I mostly buy stocks of profitable companies that pay dividends. I am a big fan of commodities and real estate. I steer clear of most unprofitable growth stocks (except for a few small positions). However, I bought bitcoin. This is true innovation. I am very interested in the potential of Bitcoin.

Bitcoin could fail in a number of ways. I did a couple of podcasts with Peter McCormack about its risks . But if Bitcoin doesn’t fail and continues to hold a pivotal share of the crypto market, be careful.

Money is a zero-sum game. Only the deepest, most liquid, most fungible, most portable, most censorship-resistant, and most resistant to devaluation will survive. Bitcoin has an advantage in this regard. Many investment institutions use bitcoin as collateral when betting their funds on various altcoins or fraudulent cryptocurrencies. If the operation fails, their bitcoins will be liquidated. No Fed bailouts, no shuffle rules, no protectors. Only the real market.

However, Bitcoin still exists. The global money market system has collapsed for decades. Ask anyone in emerging markets and they will say that developed countries push asset risk volatility onto them. A censorship-resistant currency is important to people, don’t ignore it.

I have a diversified portfolio. Stocks, Cash, Bonds, Gold, Real Estate, Commodities, Bitcoin. Bitcoin is the only one that I think can make a big difference. No one else has a solid answer to the current global currency question.

This is a boolean result.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/macro-investor-lyn-alden-equating-bitcoin-with-crypto-is-a-misunderstanding/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-06-20 12:11
Next 2022-06-20 12:14

Related articles