Index
- Page numbers followed by f refer to figures.
- A
- Aave, 54
- Acceptance, 160, 184–185, 190–191
- Active/New addresses, 200
- Adidas, 66, 164, 230
- Adoption:
- Adoption Curve, 125f
- Aerospace Project, 99
- Affinity fraud, 118–119
- Age of Autonomy, 90
- Age of Industrialization, 83
- Age of Information, 27, 90
- AI, see Artificial intelligence
- Airborne, 139–141, 144, 235
- Alexa, 228
- Alpha, generating, 210–213
- Alpha Bay, 108
- AltaVista, 85, 88, 93, 175–177
- Alt coins, 118
- Alt space, 65
- AM (anti‐money laundering process), 30, 193–195
- Amazon:
- Amazon Direct Publishing Community, 65
- Amazon Music, 70
- Amazon Prime, 64
- AmericaOnline (AOL), 83
- Amish, 118
- Amoah, Brian, 104
- A&M Records, Inc. v. Pasternak, Inc., 143
- Analog Assets, 79
- Andersen, Marc, 84
- Andres sen, Gavin, 189
- Antifragile (Taleb), 147
- Antifragility, 147
- Anti‐money laundering process (AM), 30, 193–195
- Antonopolous, Andreas, 121, 173
- AOL (AmericaOnline), 83
- Apple, 65, 73, 126, 128–129, 229
- AR (augmented reality), 64–66
- Arc, 65
- Armani, 230
- Arnott, Robert, 22
- Arpanet, 84
- Artificial intelligence (AI):
- Artificial neural networks, 126
- ArtPrice 100 index, 161
- Ask Questions (publication), 116
- Asset selection, 179, 210
- Associated Press, 81
- Asynchronous interaction, 141
- Asynchronous processing, 174
- Auditing, transparent, 45
- Augmented reality (AR), 64–66
- Augur, 56
- Aura Ledger, 11
- Autonomous economies, 168–173
- Autonomous governance, 170–171
- Autonomous motion, 126, 128–129
- Autonomous protocols, 169–170
- Autonomous robots, see Robotics
- Avatars, 64, 165, 229
- Axelrod, Bobby, 174
- Axie Infinity, 66–67
- B
- BackRub, 5
- Bankless DAO, 149
- Bank of New York Mellon, 53
- Barksdale, John, 113
- Barksdale, JonAtina (Tina), 113
- Battelle, John, 6
- BBC, 135
- BBs (Bollinger Bands), 205
- Bear markets, 91, 124, 226
- Bear Stearns, xxi
- Bed Bath & Beyond ($BBBY), 149
- Beeple, 60
- Ben (Obi‐Wan) Kenobi, 159
- Berks County, Pa., 118
- Berlin Geothermal plant, 99
- Beta risk, 210, 225
- BGP, see Byzantine Generals problem
- Big Tech, 50, 135
- Billions, 174
- Binance, 30, 54, 56
- Binary tree search algorithms, 132
- Bitcoin (blockchain), 20–34
- adding to portfolio, 214–215
- analysis of, 198–199
- bitcoin (BCT) vs, 29, 123
- and Byzantine Generals problem, 133–135
- circulation versus supply of, 163f
- core, 189
- and economic empowerment, 27–28
- energy consumption of, 96–101
- getting started with, 30–36
- as global payment method, 25–26
- gold vs, 209–213
- as hedge against inflation, 91
- and moats, 188–189
- regulation of, 28–29
- scarcity of, 191
- as sound money, 167–168
- uniqueness of, 24–25
- use of PoW in, 10, 92
- and USPs, 186–187
- bitcoin (BTC):
- Bitcoin (blockchain) vs, 29, 123
- block rewards of, 17, 134
- in centralized exchanges, 30–33
- as commodity, 79–80
- in decentralized exchanges, 55–56
- financial institutions use of, 53
- gold vs, 24–25, 209
- as hedge against inflation, 91
- metrics for, 200–202
- mining, 10, 19, 25, 97–100, 134
- moving averages for, 204–205
- as options, 223–224
- in ordered transactions, 14
- as payment method, 190–191
- in portfolio construction, 210–215
- and ransomware, 106–107
- regulatory risks of, 193–195
- scarcity of, 24, 191–192
- in smart contracts, 41
- as sound money, 162–163
- spot, 225
- taxes on, 216–217
- theft of, 107–108
- bitcoin ATM, 33
- Bitcoin Blocksize War, 16
- Bitcoin Cash, 17, 33, 187
- Bitcoin core, 189
- Bitcoin days destroyed metric, 201–202
- Bitcoin ETFs, 223, 225–226
- Bitcoin Gold (BTG), 16–17, 25
- Bitcoin innovators, 16
- Bitcoin Maximalism, 16
- Bitcoin Mining Counsel, 100
- BitcoinSV, 186
- Bitfinex, 107–108
- Bitflyer, 30
- BitTorrent, 141, 144
- Bitwise Asset Management, 226
- Bityard, 30
- BlaBlaCar, 142
- BlackBerry, 73
- BlackBerry ($BB), 149
- Black Mirror, 231
- BlackRock, 22, 52, 80, 90, 92
- Blocks:
- Block Bits Capital, 113
- Blockbuster, 240
- Blockchains, 47–48
- and AI, 126–127
- auditing of, 45
- autonomous governance of, 170–173
- and autonomous motion, 128–129
- benefits of, 42
- Bitcoin as example of, 20–34, 186, 189
- in Byzantine Generals problem, 131–138
- characteristics of, 4
- and climate mitigation, 99–101
- creating DeFi platforms using, 50–51
- criminal use of, 105–109
- crypto wallets in, 31–33
- data analysis of, 197–207
- decentralized nature of, 6–7
- and democracy, 45
- and DEXs, 58
- in health care, 45–47
- immutability of, 7–8
- innovations in, 39, 123–130
- in insurance industry, 44–45
- integration with the internet of things, 47–48
- investment in, 84–86, 90–91, 94
- and IoT, 127–128
- layer 1, 37–38, 130, 167, 169, 190
- layer 2, 37–38
- and lending platforms, 54–55
- in liquid ventures, 174–180
- and market capitalization, 190
- and The Merge, 92–94
- in the Metaverse, 63–67, 229–233
- and NFTs, 60–63, 165
- nonmoney examples of, 10–12
- permissionless, 154–158
- practical uses for, 237–241
- public and private, 27
- in real estate, 43
- regulation of, 192–195
- reliability of, 148
- security of, 9–10, 220–221
- smart contracts in, 37, 129–130, 187
- as specialized database, 5–9
- and stablecoins, 233
- technical components of, 13–18
- transparency of, 8–9
- trust‐minimized advantages of, xxii, 14, 133, 148–151
- Blockchain.com, 22
- BlockFi, xxi, 85
- Block rewards, 15, 17–19, 24, 134
- The Blocksize War (Bier), 16
- Bloomberg, 66, 107
- Boba Fett J‐Slot shooting prototype, 159
- Bollinger Bands (BBs), 205
- Bonds. See also Stocks
- Boozman, John, 29
- Bords de la Seine à Argenteuil, 136
- Borgen Project, 157
- Borrowing, 11, 50–51, 165, 219–220, 226
- Bots, 40, 127, 135
- Brin, Sergey, 5–6
- BTC, see bitcoin (BTC)
- Bubbles, 81–94
- Bucknam, Shirin, 50
- Buffett, Warren, 69, 84, 180
- Buy.com, 179
- Buying and selling pressure, 203
- Byrne, Aaron, 53
- Byzantine Generals problem (BGP), 4, 15–16, 86, 131–138
- C
- Cambridge Bitcoin Electricity Consumption Index, 97–98
- Canadian dollar, 226
- CashApp, 47
- CBOE (Chicago Board of Options Exchange), 223–224
- CDs, 55, 218, 220
- CeDeFi, 53
- CeFi, see Centralized finance
- Celsius, xxi, 49–50, 81, 85–88, 219–220, 223–225
- Celsius Network LLC, 87
- Centralized finance (CeFi), 49, 52–54, 220, 223
- Central processing units (CPUs), 126
- CFTC, see Commodity and Futures Trading Commission
- Chainalysis, 102–103
- ChatGPT, 240–241
- Chicago Board of Options Exchange (CBOE), 223–224
- Chicago Board of Trade, 80
- Chicago Crypto Capital LLC, 113
- Chicago Mercantile Exchange (CME), 224
- Choudhary, Sangeet, 140, 235
- Citibank, 52, 67, 146
- Citi Bike® memberships, 146
- Clark, James, 84
- Clayton, Jay, 194
- Client server networks, 145, 147
- “Climate and Energy Implications of Crypto‐Assets in the United States” (report), 99
- CME (Chicago Mercantile Exchange), 224
- CNBC, 208
- CNET, 39
- Coinbase, 02, 30–32, 80, 89, 103, 189, 216
- Coinigy, 206
- CoinMarketCap, 183–184
- Coin Metrics, 198
- Coins. See also Tokens
- as analog assets, 79
- in Bitcoin ATM, 33
- block rewards of, 17
- control over, 71
- in crypto scams, 111
- definition of, 21
- fungibility of, 59
- London Hard Fork effect on, 192
- meme, 179, 184
- in PayPal, 33
- PoW consensus for, 19
- privacy, 109
- protocol, 30
- spot Bitcoin relation to, 225
- tokens vs, 193–195
- trading, 30
- use in metrics, 200
- Cold wallets, 32. See also Crypto wallets
- Collateralized borrowing, 49
- Collateralized lending, 49, 54, 219, 235
- Collegium, 234
- Colonial Pipeline Company, 105–106
- Commerzbank, 53
- Commodities, 24
- Commodity and Futures Trading Commission (CFTC), 75–77, 113–114, 192–194
- Compound app, 51–52, 54, 221
- CompuServe, 84
- Computational complexity, 132
- Congress, 75, 77, 111–112, 119, 149, 226
- Consensus mechanisms, 10, 13–19, 57, 92–93, 100, 187
- ConsenSys, 11
- Consolidation, 205
- ConstitutionDAO, 169
- Consumer Price Index (CPI), 91, 191
- Content Creators, 47, 70
- Cool hunters, 63
- Copy, copying, see Forks, Forking
- The Coquette, 62
- Couchsurfing, 141
- Counterparties, 92
- COVID‐19, 90, 123, 145–146
- CPI (Consumer Price Index), 91, 191
- CPUs (central processing units), 126
- Cramer, Jim, 208
- Crime‐as‐a‐service cyberattacks, 105
- Crocodile of Wall Street, 107
- Crypto Asset Investing in the Age of Autonomy (Ryan), xxi, 77, 240
- Crypto assets. See also Cryptocurrencies; Digital assets
- and analog assets, 79
- borrowing, 219
- cryptocurrencies vs, 186
- in decentralized finance, 49, 53–54
- and digital dollars, 97
- and fraud, 112–113
- fungibility of, 59
- governance of, 170
- impact on environment, 95–101
- liquid tokens as, 176
- in Metaverse, 64
- metrics on, 200–201
- in play‐to‐earn gaming, 231
- regulation of, 76–77
- risks of investing in, 34, 178, 192–195
- as securities, 75–77
- security of, 9–10
- and smart contracts, 43
- stablecoins as, 218
- taxes on, 216–217
- as tokens, 22
- use on PayPal, 97
- value of, 186
- Crypto Assets and Cyber Unit, 112
- crypto.com, 30
- “Crypto Crime Just Hit an All‐Time High of $14 Billion.” (Fortune), 103
- Cryptocurrencies. See also Crypto assets; Digital assets
- acceptance of, 189–190
- automated management of, 40
- for bankless people, 51
- and Bitfinex, 108
- Chinese crackdown on, 98
- choosing exchange for, 30
- criminal use of, 102–104, 108–109
- crypto assets vs, 186
- in decentralized exchanges, 55–56
- in decentralized finance, 11, 53
- difference in platforms, 100
- disruptive nature of, 144
- and fraud, 111, 113, 117
- governance of, 57
- illegal uses for, 104–105
- Paul Krugman's opinion of, 88–89
- in peer‐to‐peer networks, 140–141
- proof‐of‐work requirement for, 19
- public awareness of, 22
- and ransomware, 106
- regulation of, 29, 77, 194
- and smart contracts, 50
- and transaction fees, 202
- and trust minimization, 150
- use on PayPal, 33
- Cryptocurrency bosses, 67
- “Cryptocurrency Fuels Growth of Crime” (Forbes), 103
- Crypto Dad, 27
- Cryptography, 9–10
- Crypto‐only payments, 118
- CryptoPunks, 60
- Crypto Roundtable, 124
- Crypto scams, 111–114
- Crypto wallets:
- Bitcoin in, 59, 79
- creating, 13, 32, 154–155, 167
- in Curve example, 170–171
- daily number of, 198–199
- data storage in, 233–234
- in decentralized exchanges, 32
- definition of, 9–10, 31–33
- digital signatures of, 4
- example of use of, 156–157
- exchange‐based, 32
- exchanging crypto to, 30–31
- in gaming, 231
- losing, 3
- paper assets in, 227
- percentage of Americans holding, 125
- permissionless, 157
- private keys of, 106, 120
- provably scarce digital items in, 162
- in retirement accounts, 222–223
- risks of virtual currency in, 35
- scams directed at, 111
- in smart contracts, 37, 169–170
- and transparency, 150
- and trust, 4
- unhosted, 108
- CryptoWatch, 206
- Crypto Witch Club, 50
- Cryptrader, 206
- Cup and handle continuation pattern, 206
- Current (circulating) supply, 200
- Curve ($CRV), 26, 170–171, 171f
- Cyber Unit, see Crypto Assets and Cyber Unit
- Cycles, 82, 86
- Cyprus Bank, xxi
- D
- DACs, see Decentralized autonomous corporations
- Daily Mail, 85
- Dailymotion, 143
- Daily Number of Wallets, 198
- Daily Total Transactions, 198
- Daily trading volume, 200
- DAOs, see Decentralized autonomous organizations
- Dapps (decentralized applications), 12, 37
- DarkSide, 106–107
- Dark web, 109
- Dash, 186
- Dating app scams, 117
- DBS Group, 53
- DCA (dollar‐cost averaging), 206
- Decani, Olivia Kwok, 61
- DeCeFi, 53
- Decentraland, 66, 231
- Decentralization, 6–7
- Decentralized applications (Dapps), 12, 37
- Decentralized autonomous corporations (DACs):
- Decentralized autonomous organizations (DAOs):
- Decentralized exchanges (DEXs), 55–56
- Decentralized finance (DeFi):
- and acceptance, 191
- and autonomous governance, 170–171
- CeFi vs, 52–54, 223
- Celsius' use of, 235
- and collateralized lending, 219
- definition of, 11, 49–50
- and derivatives, 56
- and digital asset investing, 226
- and governance tokens, 56–58
- illegal usage of, 104–105
- and Income strategies, 220–221
- as income strategy, 219
- protocols, 54–55, 156, 187
- in smart contracts, 37–38, 88, 219
- for unbanked people, 51–52
- Deep learning, 126
- Degas, Edgar, 136
- Deloitte, 12, 52
- Democracies, 45
- Derivatives, 56
- DEXs (Decentralized exchanges), 55–56
- Diamond, Jared, 6
- Digibyte, 186
- Digital assets. See also Crypto assets; Cryptocurrencies
- artificial intelligence control over, 121, 127–130, 173
- autonomous, 166–168, 172
- borrowing and lending, 51
- and cryptography, 10
- in diversified portfolios, 215, 222–223
- and fraud, 114
- future of, 233
- generating income using, 220–221
- investing in, 226–227
- NFTs as, 59–62
- in peer‐to‐peer transactions, 140–141
- and pump‐and‐dump schemes, 113
- regulation over, 29, 80, 192–195
- in retirement accounts, 223
- rules for capitalization of, 29
- strategies of, 53–54
- Digital Dollar Foundation, 27
- Digital dollars, 27–28, 233
- Digital Power Optimization, 99
- Digital reality, 63–64
- Digital scarcity, 59, 159–165. See also Scarcity
- “Digital town square,” 135
- Dillman, Japheth, 113
- Diorio, James, xxi
- Diversification, 208–215
- Dogecoin, 184, 187, 190, 192
- DOJ (United States Department of Justice), 87, 106
- Dollar‐cost averaging (DCA), 206
- Dom Perignon, 132
- Double‐spending, 16, 21
- Double top/bottom reversal pattern, 206
- Downtrends, 205
- Dragonchain, 113
- Dragon Company, 113
- Dropbox, 143
- Druckenmiller, Stan, 22
- DuckDAO, 169
- Dungeons and DragonsTM, 229, 237
- Dutch, see Lichtenstein, Ilya “Dutch”
- E
- East India Company, 234
- Easy File Sharing, 142–144
- eBay, 141
- The Economist, 50
- Edelman, Ric, 215
- Electrum wallet, 155
- Elizabeth I, Queen, 234
- Elliott, Elbert, 113
- EMAs (exponential moving averages), 204
- Encryption, 132
- EPA, 149
- Epic Games™, 66
- Equity Trust, 223
- Ernst & Young, 53
- ETFs (exchange‐traded funds), 223, 225–226
- Eth 2.0, 10
- Ether:
- Ethereum ($ETH):
- for bankless people, 51–52
- change to PoS, 100
- for DeFi lending, 54
- and loan to value, 220
- and market capitalization, 190
- and The Merge, 19, 92–994
- and NFTs, 66
- as payment method, 191
- as perp future, 227
- PoW consensus for, 10
- price per day, 94f
- as public blockchain, 26
- regulation of, 26–27
- scarcity of, 191–192
- in smart contracts, 38, 187–188
- taxes on, 216
- use of utility tokens in, 78
- Ethereum Classic, 17
- EthereumMax, 110
- ETH token, 78, 93f, 98, 221
- ETH Zurich, 98
- Euro, 80, 233
- Europol, 105
- Evasiveness conjecture, 132
- Exchange(s), 30–31
- Bitfinex, 107–108
- Celsius, 86–88
- centralized, 220, 226–227
- decentralized, 55–56, 191
- failure of centralized, 86–88
- FTX, 100
- as gray infrastructure services, 105
- hacking of, 103, 107
- public, 176
- Quadriga, 111
- and taxation, 216–217
- trading liquid tokens on, 176–177
- trading through, 80
- using KYC process, 105–106
- Exchange, exchanging, 226–227
- Exchange‐based wallets, 32. See also Crypto wallets
- Exchange‐traded funds (ETFs), 223, 225–226
- Exodus wallet, 155
- Expert systems, 126
- Exponential moving averages (EMAs), 204. See also Moving averages
- F
- FAANG, 65
- Facebook:
- Fahrenheit issued crypto assets (FAHRs), 235
- Fake or Fortune, 135–138
- Fanning, Shawn, 142
- FBI, 105–106, 117–118
- FDIC, 119
- FEWOCiOUS, 63
- Fiat currencies:
- Fidelity, 224, 231
- FIFA, 191
- 51% attacks, 16–17
- File‐sharing platforms, 141–143
- Financial capital, 124, 168
- Financial technology (fintech), 50, 140
- Flags, 205
- FOMO alerts, 115, 124
- Forbes, 27, 30, 103
- Forbes Advisor, 30
- Forks, Forking, 16, 151, 186
- Forsage, 113
- Fortnite, 66
- Fortune, 103
- 40‐Act (Investment Act of 1940), 226
- 4G telecommunications networks, 166
- Fragility, 147
- Franklin, Ben, 22
- FTX, xxi, 85, 224, 226–227, 235
- FUD, 74
- Fuller, Buckminster, 127, 241
- Fusco, Pauline, 143
- Futures Accounts, 223–224
- G
- GameStop ($GME), 149
- Garcia, Paul A., 113
- Gartner, 52
- Gemini, 30, 53, 189
- Generation Alpha, 47
- Gensler, Gary, 75, 112
- Giancarlo, Chris, 27
- GitHub, 57, 171
- Glassnode, 198, 199f
- Global‐Trade, 11
- Go (game), 126
- Gold:
- Gold Hawgs Development Corp., 113
- Goldman Sachs, 90
- Goods‐sharing platforms, 141
- Google:
- Google+, 197–198
- Google Drive, 143
- Google Reader, 77
- Governance Tokens, 56–57, 170–171, 173
- Gramlich, Ned, 90
- Graphics processing units (GPUs), 126
- Gray infrastructure services, 105
- Grayscale Bitcoin Trust (GBTC), 224, 226
- Grayscale Investments, 225–226
- Grewal, Gurbir S., 112
- Grimes, 66
- GTrends (Google Trends), 201
- H
- Hard wallets, 155. See also Crypto wallets
- Harvard Business Review, 140
- Hashing function, 13, 15
- Hash rates, 16, 200
- Hatfield, Wis., 99
- Head and shoulders reversal pattern, 206
- Health care, 12, 45–47, 129
- Hedge Funds, 225
- Hewa, Tharaka, 42
- Higher highs (HH), 204
- Higher lows (HL), 204
- Home Depot, 22, 39
- Hope Diamond, 159
- Hot wallets, 32. See also Crypto wallets
- House Appropriations Committee, 194
- Howey Test, 78–79, 114, 195
- HTTP (Hypertext Transfer Protocol), 177–178
- Hulu, 129, 135
- Hydrogen Technology Corporation, 113
- Hyperledger Fabric, 27, 40
- I
- IBM, 12, 27, 39–40, 52, 127
- ICOs (initial coin offerings), 78, 193–195
- ID‐NFTs, 64–65
- Image processing, see Vision systems
- Immutability, 7–8
- Income strategies, 220–221
- Industrial Revolution, 168–169
- Infrastructure inversion, 121
- Initial coin offerings (ICOs), 78, 193–195
- Initial token offerings, 118
- Instagram, 110
- Insurance, 44–47, 52, 119, 168, 232, 238–239
- Intellectual property (IP), 12, 47, 166, 168
- Internal Revenue Service (IRS), 75, 84, 108, 221
- Internet Age, 73, 76, 83, 122, 169, 177
- Internet of things (IoT), 12, 40, 47–48, 127, 148
- Internet Organized Crime Threat Assessment (IOCTA), 105
- Investment Act of 1940 (40‐Act), 226
- Investopedia, 32
- IoT sensors, 40, 48, 127–129, 148, 172
- IP, see Intellectual property
- iPhones, 73, 77
- iPods, 73
- IRAs, 222–225
- IRS, see Internal Revenue Service
- Isbank, 53
- ISP Planet, 143
- Issuances, 60, 200
- L
- La Touche, 137
- Lawler, Richard, 63
- Layer 1 blockchains, 37–38, 130
- Layer 2 blockchains, 37–38
- LBBW, 53
- Ledger wallets, 32, 155
- LedgerX, 224
- Lee, Charlie, 188
- Lehman Brothers, xxi
- LH (lower highs), 204
- Lichtenstein, Ilya “Dutch,” 106–107
- Lieutenant Uhura, 228
- Limited liability companies (LLCs), 234
- Linear value chain, 140
- Liquidity coverage ratio, 202
- Liquidity pool (LP), 221
- Liquid tokens, 176–179
- Liquid venture, 174–180, 184
- Litan, Avivah, 52
- Litecoin, 33, 186, 188
- Liyanage, Madhusanka, 42
- LL (lower lows), 204
- LLCs (limited liability companies), 234
- Loan‐to‐value (LTV), 49, 219–220
- London Hard Fork, 191–192
- Long‐wave economic cycles, see Cycles
- Louis Vuitton SE (LVMH), 11–12, 164–165, 230
- Lowe, Gretchen, 113
- Lower highs (LH), 204
- Lower lows (LL), 204
- LP (Liquidity pool), 221
- LTV (loan‐to‐value), 49, 219–220
- Lumiere HD Camera, 137
- Luna, 85
- Lycos, 93
- Lyft, 145–146
- LyftPass, 146
- LyftUp Critical Workforce Program, 146
- Lyra, 56
- M
- M2 money supply, 212
- MAC ($MAC), 149
- Mad Money, 208
- Madoff, Bernie, 113
- Mainstream adoption, 65–67
- Maker, 54
- MakerDAO, 57, 169
- Malley, Edna St. Vincent, 142
- Malmgren, Pippa, 69
- MANGA, 65–67
- Marco Polo, 53
- Margin accounts, 36, 224
- Market Capitalization, 22, 67f, 97, 190, 200–201, 211
- Markets in Crypto Assets (MiCA) law, 80
- Market timing, 179, 210
- Markowitz, Harry, 210
- Marshmello, 66
- Martin, Cynthia, 149, 151
- Mashinsky, Alex, 87, 235
- Mastercard, 53, 146
- Mata, David, 113
- Matrix films, 229
- Matrix multiplication, 132
- Matrix Resurrection NFTs, 59
- Mayer, Trace, 201
- Mayer multiple, 201
- MCC International Corp., 113
- McKinsey & Company, 12, 90
- Mean difficulty, 200
- Mediafire, 143
- Medicaid/Medicare, 46
- Meme coins, 179, 184
- Meme stocks, 149
- Mennonites, 118
- The Merge, 19, 92–94
- Mesopotamia, 40
- Messari, 202
- Meta, 65–69. See also Facebook
- METal International, 123
- Metaverse:
- “Metaverse and Money” (research report), 67
- Metcalfe's law, 197, 198f, 201
- Metcalfe's ratio, 201
- Mexican peso, 26
- MF Global, xxi
- MiCA (Markets in Crypto Assets) law, 80
- Microcaps, 117
- Microgrids, 141
- Microloans, 157–158
- Microsoft, 11, 128–129, 135, 189–190
- Miller Lite, 66
- Miners, 15–17
- Mining:
- Mining farms, 114
- MIT Media Lab Digital Currency Initiative (MIT DCI), 189
- MKR token, 57
- Moats, 129, 140, 188–189, 198
- Mobile phones, 73, 158, 174
- Mocadlo, Michael, 118
- Modern portfolio theory (MPT), 210
- Monaco, Lisa O., 106
- Mona Lisa, 60
- Monet, Claude, 61, 136–138
- Monet Catalog Raisonne, 136
- Monet Committee, 136–138
- Moonwalkers Trading Limited, 113
- Morgan, Heather “Razzlekhan,” 107
- Morningstar, 213
- Moving averages, 201–204
- M‐Pesa, 157
- MPT (modern portfolio theory), 210
- MSIV, 66
- Multi‐dimensional arrays, 132
- Musée Marmottan, 137
- Musk, Elon, 64, 100, 135
- N
- Nakamoto, Satoshi, 15, 20–21, 189
- Napster, 142–143
- National Restaurant Association, 146
- Natural language processing algorithms, 126, 132
- Nearshore software development, 26
- Net asset value (NAV), 224–225
- NetDragon WebSoft, 173
- Netflix, 65, 129
- Netscape Navigator, 84–85
- Network value to transactions (NVT) ratio, 201
- Neuralink, 64
- New York Mercantile Exchange, 80
- New York Times, 88, 98, 107
- NFTs, see Non‐fungible tokens
- Nguyen, Terry, 65
- The Night Watch, 62
- Nike, 63, 139, 164–165, 230
- Nobel Prize, 88, 210
- Nokia ($NOK), 73, 149
- Non‐fungible tokens (NFTs):
- Norwich, England, 137
- NVTG ratio, 202
- NVT (network value to transactions) ratio, 201
- NYDIG, 53
- O
- Obama, Barack, 119
- Oculus VR, 65
- Off‐chain governance, 57
- Office of Customer Education and Outreach, 114
- Office of Science and Technology Policy (OSTP), 96, 99, 245
- Offshore software development, 26
- On‐chain governance, 56–58, 168, 170–171, 173
- 123Movies, 143
- OneCoin, 111
- OpenAI, 240. See also Artificial intelligence (AI)
- Open‐Source Software, 151
- Options, 33, 223–224
- Ormeus Coin, 113
- Ostern, Tyler, 113
- OSTP, see Office of Science and Technology Policy
- Overall trends, 203
- P
- P2P structures, see Peer‐to‐peer (P2P) structures
- Page, Larry, 5–6
- PageRank, 6
- Pancake, 55
- Paper assets, 168, 227
- Paper wallets, 32. See also Crypto wallets
- ParkatmyHouse, 141
- Parker, Geoffrey, 140, 235
- Parker, Sean, 142
- Patel, Marilyn, 143
- PayPal, 33, 139
- PC Gamer, 87
- PCS (personal communication services) devices, 73
- PDFs, 61
- Peer‐to‐peer (P2P) structures:
- advantages of, 149
- Bitcoin's use of, 134
- in blockchain, 20–21
- and Byzantine Generals Problem, 85–86
- consensus in, 134–138
- in DAOs, 169
- Dapps as, 37–38
- in DeFi, 38, 54–55
- examples of, 237–240
- immutability of, 8, 12
- models of, 139–147
- in smart contracts, 130
- trust‐minimized, xxii, 14
- use of fiat currencies in, 28
- PeerTube, 143
- Pennants, 205
- Penny stocks, 117
- Perez, Carlota, 82–83, 168
- The Peripheral, 64
- Permissionless solution, 154–155
- Permission Monster, 152–153
- Perpetual contracts (perps), 227
- Personal communication services (PCS) devices, 73
- Pets.com, 85, 178–179
- Pew Research, 22
- Phishing, 115
- Picasso, Pablo, 136
- Pioneering Portfolio Management, 208
- Pipeline businesses, 26, 140, 145
- Platform businesses, 140, 145, 235. See also Two‐sided marketplaces
- The Platform Revolution (Parker et al.), 140, 144
- Play‐to‐earn gaming, 67, 231–232
- PoA (proof‐of‐activity), 18
- PoC (proof‐of‐capacity), 18
- PoH (proof‐of‐history), 18
- Polkadot, 100, 189
- Polygon, 100
- Ponzi schemes, 113
- Portfolio construction, 210
- “Portfolio Selection” (Markowitz), 210
- PoS, see Proof‐of‐stake
- PoW, see Proof‐of‐work
- Price trends tops and bottoms, 204
- Privacy coins, 109
- Production capital:
- Proof‐of‐activity (PoA), 18
- Proof‐of‐capacity (PoC), 18
- Proof‐of‐history (PoH), 18
- Proof‐of‐stake (PoS), 10, 18–19, 92–93, 100, 220–221
- Proof‐of‐work (PoW), 10, 15, 18–19, 92, 100, 134
- Proposals, 57, 131, 170–171
- Propy, 43–44
- Protocols, 129–130
- Provable scarcity, 160–165. See also Scarcity
- Provable uniqueness, 61, 165
- Public payments networks, 25–26
- Pump and dump scams, 111
- Putlocker, 143
- R
- Randal ($AGO), 130, 187, 191
- RAND Corporation, 103
- Ransomware, 105
- Ransomware and Digital Extortion Task Force, 106
- Ransomware attacks, 105–107
- Razzlekhan, see Morgan, Heather “Razzlekhan”
- Ready Player One (film), 64
- Reagan, Ronald, 150
- Realized capitalization, 200
- Reclining Nair Lady, 62
- Red Flag Act of 1865, 76
- Reeves, Keanu, 59
- Regelman, Roman, 53
- Regulation:
- Regulatory risk, 192–195
- REITs, 220
- Relative strength indicators (RSIs), 203–204
- Reliability, 147
- Rembrandt, 62, 136
- Rembrandt Heritage Foundation, 62
- Restaurant Employee Relief Fund, 146
- Retirement accounts, 87, 222–223, 226
- Reversals, 205–206
- RIAA, 143
- Riehl, Philip Elvin, 118
- Ripple, 114
- Ripple Labs, 195
- Risk, 178–179
- Risk‐adjusted returns, 213–214
- Risk envelopes, 34
- A River Runs Through It (film), 142
- Robinhood, 149
- Robotics, 125–130
- Roets, John Joseph, 113
- Role‐playing character (RPC) games, 237
- Roth IRAs, see IRAs
- Roundhill Investments, 66
- Royal Collection Trust, 137
- RSIs (relative strength indicators), 203–204
- RTFKT Studios, 63
- RtisitiQ, 62
- Rug pull swindles, 111
- S
- SaaS (software as a service), 166, 168
- St. Petersburg, 61
- St. Regis Aspen Resort, 164
- Samsung, 66
- Santa Clara County v. Southern Pacific Rail Road, 173
- Saving, 217–218
- Scalability, 145, 191
- Scarcity, 191–192
- Schaffner, Herb, 41
- Schwindt, Mitchel, 46
- S corporations, 169
- S‐Curve, 125f, 213
- The Search (Battelle), 6
- SEC, see Sec urities and Exchange Commission
- SEC Division of Enforcement, 112
- SEC Office of Investor Education and Advocacy, 114–117
- SEC Speaks conference, 112
- Securities:
- Securities and Exchange Commission (SEC), 28–29
- Securities Investor Protection Corporation (SIPC), 20, 119
- Security tokens, 78
- Seed phrase, 32–33
- Self‐directed IRAs, see IRAs
- Sensors, see IoT sensors
- Sentiment data, 201
- Service‐sharing platforms, 142
- Severance, Colo., 113
- Shanbhogue, Rachana, 50
- Sharpe ratio, 213–215
- Shiba Inu, 184
- Signal, 90
- Simple moving averages (SMAs), 204. See also Moving averages
- Single‐Asset Trusts, 224–225
- SIPC (Securities Investor Protection Corporation), 20, 119
- Siri, 228
- Smart contracts, 129–130, 178, 180, 186–189
- Smartphones, 73
- SMARTRealty, 22
- SMAs (simple moving averages), 204
- Social Credit systems, 70
- Social media, 77, 107, 116–118, 145, 161–162, 174
- Social Security, 119, 232
- Society for Human Resource Management, 12
- Soft wallets, 155. See also Crypto wallets
- Software as a service (SaaS), 166, 168
- SOL, 78
- Solana ($SOL), 26, 78, 130, 187–189, 191
- Sortino, Frank A., 214
- Sortino ratio, 213–214
- Sovereign data, 71, 232–233
- S&P 500, 161, 209, 211–212
- Spearphishing, 107
- Spielberg, Steven, 64
- Spot bitcoin, 223, 225–226
- Spot ETFs, 225–226
- Spotify, 70
- SPY, 209
- Stabenow, Debbie, 29
- Stablecoins:
- Stanford University, 5–6
- Starbucks, 22, 62–63, 90, 187, 190
- Starbucks Odyssey, 62–63
- Starbucks Rewards, 63
- Starry Night, 159
- Star Trek, 64, 228
- Star Wars, 159
- State Hermitage Museum, 61
- Statista, 66
- Stewart, Chris, 194
- Stock market crash of 1929, 226
- Stocks. See also Bonds
- Stranded renewables, 98
- StriveCast, 144–145
- Sumeria, 40
- Super Pumped, 174
- Supply chains:
- Support and resistance levels, 203
- Swensen, David, 208
- Synthetix, 56
- T
- TA (technical analysis), 202–207, 203f
- Taleb, Nassim, 147
- TaskRabbit, 142
- Taxes, Taxation, 115, 216–217
- TDAmeritrade, 215, 224
- Teams, 189
- Technical analysis (TA), 202–207, 203f
- Technical University of Munich, 98
- Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages (Perez), 82–83, 168
- Telegram, 90
- Temasek, 53
- Temporality, 78
- Tesla S, 186
- TGEs (token‐generating events), 124
- 3D Internet, 63
- Three Arrows Capital, 85
- ThumbTack, 142
- TikTok, 135, 240
- Time.com, 50
- Token frauds, 117
- Token‐generating events (TGEs), 124
- Tokenized assets, 38, 78, 237–239
- Tokenomics, 18, 178
- Tokens. See also Coins
- in autonomous protocols, 169–170
- coins vs, 193–195
- crypto assets as, 186, 192–193
- cryptocurrencies as, 186
- in DAOs, 236
- definition of, 21
- deflationary, 93
- difficulty in getting, 162
- FAHR, 235
- governance, 56–57, 170–171, 173, 234
- liquid, 176–179
- market capitalization calculation using, 190
- non‐fungible, 164–165, 232
- in retirement funds, 222–227
- scams using, 111
- team creation of, 189
- utility, 77–79, 155, 164
- Token Taxonomy Act, 195
- Total portfolios, 214–215
- Toyota, 39
- Toyota Prius, 186
- Tradecraft Capital, 225
- TradFi (traditional finance), 220–221
- Trading algorithms, see Bots
- Trading platforms, 55, 112, 141
- TradingView, 206
- Trading volume (Vol), 113, 203–204
- Transactions:
- Transaction counts, 200
- Transaction value, 200–201
- Transparency:
- Treasury bonds, 91
- Trends, 205
- Trendline Support/Resistance, 204
- Trezor wallet, 32, 155
- Triangles, 205
- Triple‐entry accounting, 24
- Trust minimization, 150–151
- TrustRadius, 38
- Turo, 141
- Tweets per day, 201
- Twitter, 116, 135, 145, 147, 174, 181, 201
- Two‐sided marketplaces, 130–140, 235, 239. See also Platform businesses
- U
- Uber, 4, 144–146
- uDirect, 223
- UI (user interface), 240
- Unbanked people, 51, 153, 155–157
- Unicorns, 174–175
- Uniqueness, provable, 61, 165
- Unique selling propositions (USPs), 186–187
- Uniswap, 55
- United States Court of Appeals for the Ninth Circuit, 143
- United States Department of Justice (DOJ), 87, 106
- United States dollar(s) (USD):
- backed stablecoins, 80, 188, 222
- cost average, 31, 206–207
- cost of worldwide transactions using, 25–26
- criminal involvement using, 102, 105
- crypto assets vs, 22
- decreased value of, 191
- in DeFi, 50–52
- digital, 27–28, 233
- effect of LTV on, 220
- and encryption, 132
- Ethereum value in, 93f
- fungibility of, 59, 163
- insured, 44
- lost using Robinhood, 149
- in margin accounts, 224
- strength of, 91
- taxes on, 216–217
- use in metrics, 200–202
- value of Metaverse in, 66, 67f
- virtual currency's exchange with, 35–36
- volatility of, 218–219
- United States Treasuries (USTs), 211–212
- University of Texas at Austin, 86
- Unlicensed sellers, 115
- Unsolicited offers, 115
- Unspent transaction output (UTXO), 200–202
- Uptrends, 205
- USD, see United States dollar(s)
- USDC coin, 221, 222, 233
- Usenet, 142
- User interface (UI), 240
- Users, 18
- USPs (unique selling propositions), 186–187
- USTs (United States Treasuries), 211–212
- Utility tokens, 77–78, 155, 164
- UTXO (unspent transaction output), 200–202
- UTXO age analysis, 202
- V
- Validators, 19, 220–221
- Van Alstyne, Marshall, 140
- Van Der Laan, Wladimir, 189
- Van de Wetering, Ernst, 62
- Van Eck, 226
- Van Gogh, Vincent, 61
- Varma, Raja Ravi, 62
- Venezuelan bolivar, 51
- Venmo, 8, 14, 21, 47, 88–89, 139
- Venture capital, 147, 168–169, 174–176
- Venture Funds, 225
- Venture investing, 175–179, 225
- Ver, Roger, 17
- The Verge, 17
- Verification, 17, 43, 114, 145
- Vermont Department of Financial Regulation, 87
- Videoconferencing, 230
- Virtual currencies, 28–29, 35–36, 108
- Virtual reality (VR), 64–66, 164
- Visa, 52, 233
- Vision systems, 126, 128–129
- VIX (volatility index), 209
- Vol (trading volume), 113, 203–204
- Volatility:
- Volatility index (VIX), 209
- Volkswagen (VW), 149
- Vox, 65
- VPNs, 105
- VR (virtual reality), 64–66, 164
- Vrije Universiteit Amsterdam, 98
- W
- W. J. Howey Company, 78
- Wallets, see Crypto wallets
- Wall Street Journal, 175
- Walmart, 33, 39–40, 108
- Washington Post, 29
- Watson, Gale, 113
- Web 2.0, 66, 135
- Web 3.0, 60–63, 68–71, 129, 135, 173, 232
- Wedges, 205
- Wells Fargo, 53
- Western Union, 156
- WeWork, 174
- White House, 75
- Whole Foods, 190
- Wildenstein, Daniel, 136
- Wildenstein, Guy, 137
- Willscape Management, 61
- Winkelmann, Mike, 60
- Winklevoss twins, 226
- Wojcicki, Susan, 63
- Wood, Gavin, 70, 189
- World Art News, 61
- World Bank, 51
- World Wide Web, 5, 68, 70, 84
- X
- XRP, 195
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