This package includes:
Full access and material for the online course: ECO11: Principles of Economics I
Full access and material for the online course: ECO12: Principles of Economics II
This paper expands on the concept of layered scaling as discussed in The Bitcoin Standard. The popularity of bitcoin as hard money is likely to far exceed its capacity for on-chain transactions, necessitating the development of second layer solutions. Custody and credit allocation are market services that have proven in demand through many monetary and financial system, and there is no reason to assume they will disappear in a bitcoin economy. The economics of second layers are discussed, with specific focus on the Lightning Network, and the factors shaping its growth and evolution. The risks of layered scaling are discussed. (9,514 words)
This package includes: A personally signed and dedicated physical copy of The Bitcoin Standard. The full audio book of Principles of Economics, my forthcoming textbook. Real time access to the the draft of Principles of Economics. Watch Principles of Economics come to life with each new draft, as it is written over the coming year. [...]
This paper examines bitcoin’s survival chances critically. It begins by examining two of the common ways in which people imagine Bitcoin could be killed, and why they are not very likely: software bugs, government bans, and the failure of fees to generate enough security. I argue that these are unlikely to kill bitcoin because they do nothing to undermine the economic incentives that people have to use bitcoin. To successfully undermine bitcoin one needs to undermine the economic incentive that people have for using it, and two such scenarios are discussed: world governments improving their monetary & financial policies; or a hyperinflationary collapse of national currencies before bitcoin has acquired significant liquidity. (11,406 words)
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