There was a time when Roman soldiers were paid in salt. Not because salt was delicious on eggs, but because it was scarce, portable, and universally accepted. Sound familiar? Swap the salt crystals for cryptographic tokens and you have more or less the same pitch Bitcoin makes today. The funny thing is, not every culture […]
From Salt to Satoshi: Why Some Cultures “Get” Crypto Faster Than Others Read More »
Three centuries apart, two crowds of people made the same mistake in almost the same way. One wore powdered wigs. The other posted rocket emojis. The outcome was identical. The South Sea Bubble of 1720 is usually taught as a cautionary tale about greed in a distant era. But if you strip away the costumes
The OG Crypto: Why 1720 London Looks Exactly Like 2021 Reddit Read More »
There is a strange paradox at the heart of investing that nobody talks about at dinner parties. The best opportunities tend to show up dressed in the most boring outfits imaginable. They do not arrive with fireworks. They do not trend on social media. They sit quietly in the corner while everyone else is dancing
Why the Best Time to Buy Bitcoin is When You Are Bored to Death by It Read More »
Most things in economics follow a simple rule. When the price goes up, people buy less. When the price drops, people buy more. This is the law of demand, and it is so foundational that questioning it feels almost rude. Like asking if gravity takes weekends off. But there is a strange exception buried in
Is Bitcoin a Giffen Good? A Controversial Deep Dive Read More »
There is something almost poetic about comparing these two income streams. One comes from a company that has been paying shareholders for over a century to sell flavored sugar water to the planet. The other comes from locking up digital tokens on a network that did not exist fifteen years ago to help validate transactions
Coca-Cola’s Dividend vs. an Ethereum Staking Yield: The Old Economy vs. the New Read More »
For fifty years, the world has run on a quiet handshake. Oil gets priced in dollars, dollars get recycled into US Treasuries, and the United States gets to borrow at rates that would make any other country blush. We call it the petrodollar system, and most people treat it like the weather. It is just
Beyond the Barrel: Why the “Petro-Bitcoin” Idea Is Not as Crazy as You Think Read More »
The idea of making money while you sleep is ancient. Landlords figured it out centuries ago. Bond holders figured it out not long after. Dividend investors turned it into a religion sometime in the twentieth century, complete with sacred lists, initiation rituals, and heretics. But something strange has happened in the last decade. The concept
There is a question that splits the investing world more cleanly than almost any other: do you trust the system, or do you not? It sounds like a question about politics. It is not. It is the question that separates the Bogleheads from the Bitcoiners, two devoted financial communities on the internet. Both have founders
Vanguard vs. Satoshi: The Philosophical War at the Heart of Modern Investing Read More »
There is a quiet contempt between two groups of income investors that rarely gets talked about directly. On one side, dividend investors. They buy shares in companies that have paid cash to shareholders for decades, sometimes centuries. On the other side, DeFi investors. They lock tokens into protocols and earn yield that can make a
There is a moment that happens in almost every crypto conversation where the topic stops being money and starts being philosophy. Someone mentions Bitcoin, and within about ninety seconds you are hearing about central banks, monetary policy, the 2008 financial crisis, and the idea that money itself is a kind of illusion agreed upon by