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LORIEN GAMAROFF
CRYPTOCURRENCYTulips
or Global Money
@gamaroff
Economics
Economics
Technology
Economics
Technology
Politics
“… the most important invention since the Internet.”
“… the most important invention since the Internet.”
bitcoin
“The one thing that’s missing, but that will soon be developed, is a reliable e-cash”
- Milton Friedman
“… WILL BECOME THE BEATING HEART OF THE GLOBAL FINANCIAL
SYSTEM”
“… A SIGNIFICANT INNOVATION THAT WILL HAVE FAR-REACHING IMPLICATIONS.”
“… WILL CHANGE EVERYTHING.”
“… A TECHNOLOGICAL TOUR DE FORCE.”
'We are about to see massive disruptions': IMF's Lagarde says it's time to get serious about digital
currency - 13 Oct 2017
Cryptocurrency
tokensCryptocurrency
tokensCryptocurrency
Blockchain
Censorship-free
Censorship-free
Peer-to-peer
Censorship-free
Peer-to-peer
Distributed and Decentralised
Censorship-free
Peer-to-peer
Distributed and Decentralised
Untrusted
Censorship-free
Peer-to-peer
Distributed and Decentralised
Untrusted
Anonymous
Gartner Hype CycleGartner Hype CycleGartner Hype CyclePeak of Inflated Expectations
Plateau of Productivity
Slope of EnlightenmentSlope of Enlightenment
Trough of DisillusionmentTrough of Disillusionment
Technology Trigger
Time
Visib
ility
Gartner Hype CycleGartner Hype CycleGartner Hype CyclePeak of Inflated Expectations
Plateau of Productivity
Slope of EnlightenmentSlope of Enlightenment
Trough of DisillusionmentTrough of Disillusionment
Technology Trigger
Time
Visib
ility
Peak of Inflated Expectations
Gartner Hype CycleGartner Hype CycleGartner Hype CyclePeak of Inflated Expectations
Plateau of Productivity
Slope of EnlightenmentSlope of Enlightenment
Trough of DisillusionmentTrough of Disillusionment
Technology Trigger
Time
Visib
ility
Peak of Inflated Expectations
Trough of Disillusionment
tokens
tokens
tokens
Currency
tokens
CurrencyUtility
tokens
CurrencyUtilityEquity
tokens
CurrencyUtilityEquityAsset
Store of Value
DivisibleStore of Value
Divisible FungibleStore of Value
Divisible DurableFungibleStore of Value
Divisible DurableFungible
Medium of Exchange
Store of Value
Divisible DurableFungible
Medium of Exchange Unit of Account
Store of Value
Fiat Currency
Economics 101
Ludwig von Mises
Economics 101
Ludwig von Mises
John Maynard Keynes
Economics 101
1913 2017
US $ Purchasing PowerFederal Reserve Economic Data - St. Louis Fed
20162008
US Money Supplytradingeconomics.com
20162008
US Money Supplytradingeconomics.com
20162008
US Money Supplytradingeconomics.com
01 02 03 04 05 06 07 08 09
Zimbabwe Money Supplytradingeconomics.com
08 10 12 14 16
Venezuela Money Supplytradingeconomics.com
20162008
China Money Supplytradingeconomics.com
20162000
South Africa Money Supplytradingeconomics.com
Inflation (monthly)
https://tradingeconomics.com/country-list/inflation-rate
Venezuela 741 %
South Sudan 117.7 %
Congo 59.78 %
North Korea 55 %
Syria 43.2 %
Central African Republic 38.04 %
Inflation (monthly)
https://tradingeconomics.com/country-list/inflation-rate
1971 ‘17‘00 ‘071987
0
5
10
15
20
US Fed Funds RateFederal Reserve Economic Data - St. Louis Fed
2008 2017
Central Bank AssetsCentral Bank AssetsMCSI
SNB owns more shares in Facebook than Mark Zuckerberg
and is the world’s 8th biggest public investor
SNB owns more shares in Facebook than Mark Zuckerberg
and is the world’s 8th biggest public investor
BOJ is #1 shareholder in top 88 companies on Nikkei
Apple Inc 59BNestlé SA 46BRoyal Dutch Shell Plc 43BAlphabet Inc 42BMicrosoft Corp 40BNovartis AG 36BRoche Holding AG 33BHSBC Holdings Plc 28BAmazon.com Inc 28BFacebook Inc 28B
Apple Inc
Norges Bank Equity Investments www.nbim.no
• Hyperinflation
• Hyperinflation• War on Cash
• Hyperinflation• War on Cash• Negative Interest Rates
The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy - Kenneth Rogoff
“A fascinating and important book" (Ben Bernanke) about phasing out most paper money to fight crime
and tax evasion!and to battle financial crises by tapping the power of negative
interest rates.
• Hyperinflation • War on Cash • Negative Interest Rates
• Hyperinflation • War on Cash • Negative Interest Rates
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins• Capital Controls
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins• Capital Controls• Unbanked
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins• Capital Controls• Unbanked• Geopolitical Uncertainty and Risk
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins• Capital Controls• Unbanked• Geopolitical Uncertainty and Risk• Trust
• Hyperinflation • War on Cash • Negative Interest Rates• Bank Bail-ins• Capital Controls• Unbanked• Geopolitical Uncertainty and Risk• Trust• Millennials
Western Union 16.08 %
Standard Bank 20.05 %
FNB 22.35 %
20.05 %20.05 %Standard Bank 20.05 %
Nedbank 18.77 %
Remittance Costs - SA to Zimbabwehttp://remittanceprices.worldbank.org/en/corridor/South-Africa/Zimbabwe
ABSA 22.85 %
Moneygram 13.54 %
ABSA 21.39 %
FNB 22.68 %
21.39 %21.39 %ABSA 21.39 %
Western Union 16.08 %
Remittance Costs - SA to Nigeriahttp://remittanceprices.worldbank.org/en/corridor/South-Africa/Nigeria
Nedbank 24.19 %
Western Union 16.08 %
Standard Bank 24.34 %
FNB 25.71 %
24.34 %24.34 %Standard Bank 24.34 %
Nedbank 17.46 %
Remittance Costs - SA to Malawihttp://remittanceprices.worldbank.org/en/corridor/South-Africa/Malawi
ABSA 27.39 %
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Sender
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2.35
10.35
Receiver Amount
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Sender
#1020
#1300
4.5
2.02302
Receiver Amount
#1002
#1410
Sender
#1001
#1002
2.35
10.35
Receiver Amount
#1054
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bitcoin
bitcoin
Bitcoin Price
Bitcoin PriceNASDAQ Composite
Bitcoin PriceNASDAQ Composite
Bitcoin PriceNASDAQ CompositeNASDAQ CompositeGartner Hype Cycle
Supp
ort
Causes
The Long Charitable Tail
