Expatriotic on Nostr: _Good Morning_\ ☕ 📖 🌞 # Cryptoeconomics **by [Erik ...
_Good Morning_\
☕ 📖 🌞
# Cryptoeconomics
**by [Erik Voskuil](https://github.com/evoskuil).**\
**The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).**
### Auditability Fallacy
- **Non-Auditability**: Bitcoin custodian solvency can't be audited; they control asset release and security issuance.
- **Custodial vs. Non-Custodial**: If controlled by consensus, it's non-custodial (layer), not auditable.
- **Solvency Audit**: Needs simultaneous proof of asset and securities; atomicity is key.
- **National Reserve**: Proving all fiat against Bitcoin reserve is complex; even on separate chains, atomicity fails.
- **Waiver of Atomicity**: Sometimes waived, assuming errors will be found, but not effective for state banking.
- **Historical Precedence**: Deviations are detectable but stopping them is challenging.\
The rest of the summarized chapters are at https://expatriotic.me
☕ 📖 🌞
# Cryptoeconomics
**by [Erik Voskuil](https://github.com/evoskuil).**\
**The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).**
### Auditability Fallacy
- **Non-Auditability**: Bitcoin custodian solvency can't be audited; they control asset release and security issuance.
- **Custodial vs. Non-Custodial**: If controlled by consensus, it's non-custodial (layer), not auditable.
- **Solvency Audit**: Needs simultaneous proof of asset and securities; atomicity is key.
- **National Reserve**: Proving all fiat against Bitcoin reserve is complex; even on separate chains, atomicity fails.
- **Waiver of Atomicity**: Sometimes waived, assuming errors will be found, but not effective for state banking.
- **Historical Precedence**: Deviations are detectable but stopping them is challenging.\
The rest of the summarized chapters are at https://expatriotic.me