NorthernMiner on Nostr: A powerful excerpt from the Stone Ridge 2024 Investor Letter: “No one forces anyone ...
A powerful excerpt from the Stone Ridge 2024 Investor Letter:
“No one forces anyone to use #bitcoin, nor does anyone need anyone else's permission. The power in incomprehensibly large numbers makes bitcoin work. For the same reason, bitcoin favors the individual. Normally the men with the biggest sticks make the rules, but no army in the world can break strong cryptography.
Beautiful and silent, the bitcoin network sits blanket-like atop the earth's topography, robust in its unstructured simplicity. Anyone can transfer bitcoin to anyone, anywhere, erasing borders and linking humanity. On a video call, hold up a barcode. On a message app, click one button. Or just whisper 12 words.
Or don't whisper. Take those 12 words privately rattling around in your head and walk across a border. They may contain $1B of bitcoin, but forget them, and lose your bitcoin.
Peaceful and provably resistant to coercion, why does bitcoin generate such intense animosity?
Perhaps for the very reason that it is voluntary? Or perhaps because its foundational promise - individual sovereignty at the expense of personal responsibility - is offensive to the foundational world view of those confused critics who think they're in charge.”
Link to the full letter below, well worth reading!
https://cdn.prod.website-files.com/614e11536f66309636c98688/6772064c0f83b9dad82414b4_Stone%20Ridge%202024%20Investor%20Letter.pdf
“No one forces anyone to use #bitcoin, nor does anyone need anyone else's permission. The power in incomprehensibly large numbers makes bitcoin work. For the same reason, bitcoin favors the individual. Normally the men with the biggest sticks make the rules, but no army in the world can break strong cryptography.
Beautiful and silent, the bitcoin network sits blanket-like atop the earth's topography, robust in its unstructured simplicity. Anyone can transfer bitcoin to anyone, anywhere, erasing borders and linking humanity. On a video call, hold up a barcode. On a message app, click one button. Or just whisper 12 words.
Or don't whisper. Take those 12 words privately rattling around in your head and walk across a border. They may contain $1B of bitcoin, but forget them, and lose your bitcoin.
Peaceful and provably resistant to coercion, why does bitcoin generate such intense animosity?
Perhaps for the very reason that it is voluntary? Or perhaps because its foundational promise - individual sovereignty at the expense of personal responsibility - is offensive to the foundational world view of those confused critics who think they're in charge.”
Link to the full letter below, well worth reading!
https://cdn.prod.website-files.com/614e11536f66309636c98688/6772064c0f83b9dad82414b4_Stone%20Ridge%202024%20Investor%20Letter.pdf