172 sats \ 2 replies \ @gimballock1 27 Jun \ on: Book Review- The Genesis Book BooksAndArticles
Number 1 takeaway: This book finally connected the dots between the economic philosophy and the technical.
- Hayek is emphasized right from page 1 and is reintroduced several times throughout the story as the technology slowly progresses towards the realization of his concept of a Denationalized Money system.
- This book will show you how various groups of futurists, hackers, and scientists worked together to try to fulfill Hayek's dream of a decentralized economy, referred to as a 'spontaneous order'.
Before reading this book it always puzzled me how the cipher punks even got the idea to make money external to a government or bank.. Where does that idea even come from... I have read all of the papers referenced in the whitepaper and the original idea for this kind of money system is much older than any of those fields of research. This book has that answer, it's Hayek.
Banks are are feeling threatened domestically and internationally:
- BRICS nations are mobilizing against USD
- Institutional money is flooding into bitcoin investment vehicles domestically Meanwhile inflation continues despite all efforts to suppress it.
Centralized exchanges are pretty locked down already with KYC/AML regulations
Public mining companies are the other big source of capital out flow. Being public makes it easy to raise capital and grow the operation. This happens in the US because we have a very stable government relatively speaking. This situation will persist until it no longer works because going underground is more risky at scale. But, I believe, inevitable as the threat to the establishment becomes more acute.
GENESIS