BITCOIN: The Crypto Expert

The floodgates are open; now try and find your private key or be chained forever

Executive Summary

• Is network size correlated to coin value?

• You won’t find the chain. The chain finds you!

• We bet against the Santa Coin and short anything Fried.

1. Why Do I Care Right Now?

Let me be your Crypto Expert today. Call me Michael Saylor, call me Samuel B.-Fried, call me Mickey Mouse.

Decentralized blockchain technologies with their cryptographies will likely find sound and widespread practical use sometime in the future. However, it is unclear how to value crypto coins used to incentivize mining and other work around these chains, products, or services. The usability or size of a network doesn’t have to be correlated to coin value.

Like any other debased fiat currency that isn’t backed by real assets, cryptocurrencies are nothing more than belief systems. People can trust fiat currencies because governments and central banks guarantee their use and value. However, cryptocurrencies do not have a central law-making authority; they are stuck with storytelling and human belief…