“The problem is correlation. When things go bad, all kinds of things correlate that no one ever dreamed correlated. And there’s nothing more deadly than unrecognized concentrations of risk” WB
Any organization with a large, protected income will tend by default toward administrative bloat. It's the same in government, at Harvard, at Google. Unless you take explicit measures to avoid it, you'll overhire.
From the people that you pay to "guarantee" your retirement income: 'A portfolio manager at one of Germany’s largest insurance companies said, “It’s a global margin call. I hope we survive.”
https://t.co/kCnkxzzPNG
Smart contracts create confidence in an incorruptible outcome, mediating collaboration with other collaborators.
Over the past few months, we've been thinking a lot about how we can use this to program smart employment contracts, use on-chain escrows, and more.
🧵 Thread
64,000 retweets and 365,000 likes. This might be the most widely shared @OurWorldInData chart ever.
If you want to know "what's going on here", this is our post from which this chart is taken: https://t.co/vAZTitt4Yo
1/ Chainlink oracle networks are becoming increasingly cost-efficient, supporting the ecosystem’s long-term economic sustainability.
Innovations in oracle design & improvements in blockchain scalability allow for greater volumes of data to be delivered on-chain to meet demand.
- Always have insurance
In the form of cash reserves or insurance policies
Investment bankers always hedge their bets no matter how smart/successful they are
Murphy’s Law - anything that can go wrong, will eventually go wrong
Fortune favours those who stay in the game.
It seems the world is experiencing a trust deficit, and for blockchain to thrive and achieve widespread adoption, it must act as an incumbent to enable confidence and build trust. https://t.co/EOmIFDDEXi
The visionary person naturally perceives value in #Bitcoin when realizing that anyone's bank account can be shut down.
The adaptive person begrudgingly perceives value in #Bitcoin when his own bank account is shut down.
And then there's @PeterSchiff
Think different
One of the greatest things about #Bitcoin is that you can only get it if you think below the surface.
That creates a whole community of people who think deeply about stuff
For example: