Revisiting the Nakamoto Ratio
In 2018, entrepreneur and physicist Dhruv Bansal gave a low-key talk that introduced a big idea. The idea emphasized the fraction of world electricity used to secure the Bitcoin network.1…
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Returning to the Atoms
“We’re dealing with synthetic commodities, and NFTs, which have financial value, but are completely ethereal. So it’s nice to return to the atoms.” Nic Carter One of my favorite things…
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On Proof of Work
Proof of work is a polarizing topic in crypto. Of the top 10 largest “coins” in market cap, only 3 use proof of work: Bitcoin, Ethereum, and Dogecoin1. Bitcoin intends…
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Bitcoin’s Second Order Consequences
Massena is a small town of about 12,000 people in Upstate New York. Now, there are more bitcoin mining machines than there are people. Several years ago, Coinmint took over…
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An Intro to Crypto for Chiefs of Staff
*The following is an essay of a presentation I did for On Deck as a fellow in their ODCoS program. So you’re a Chief of Staff. The generalist, the advisor,…
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The Apex Predator of Financial Market Infrastructures
In an interview with CNBC, Anthony Pompliano asserted that “Bitcoin is the apex predator of financial markets”. Having grown at a compound annual growth rate of 200% for over a…
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Everyone Around You is Getting Hilariously Rich (Again) and You’re Not
A 24-year old graduate student recently turned a $500 investment into $203,411. In less than three weeks. There are nearly 93,000 bitcoin wallets worth over $1 million dollars (BitInfoCharts). A…
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Akoin: Building the Digital Economy in Africa With Blockchain
Finally, a large scale blockchain project that can actually live up to its potential. What excites me the most about Akoin is that it doesn’t scream “hammer in search of…
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In Defense of Learning a Foreign Language
One thing I would recommend everyone do is go through an independent language learning phase. By independent, I mean outside of your traditional foreign language class in school. About two…
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Phil Hendricks 