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Kindle Notes & Highlights
by
Ben McKenzie
Started reading
August 11, 2025
Never invest in something you don’t understand,
In economics, currencies do things: They are a medium of exchange, a unit of account, and a store of value.
Bitcoin uses an enormous amount of energy,
When it came to the other two functions of money—store of value and unit of account—Bitcoin also fails miserably.
impossible to run a business using Bitcoin
(or any other crypto) or hold on to it for any period of time with reasonable confidence ...
This highlight has been truncated due to consecutive passage length restrictions.
Cryptocurrencies have no disclosure requirements, effectively by design; the pseudonymity of the blockchain conceals who owns what.
cryptos don’t make
stuff or do stuff. There are no goods or services produced. It’s air, pure securitized air.
