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The Aker shareholder letter is one of the clearest/most thoughtful *Why Bitcoin, Why Now* reads Here is a thread highlighting a few notable quotes. This is a must read for everyone.

The Aker shareholder letter is one of the clearest/most thoughtful *Why Bitcoin, Why Now* reads Here is a thread highlighting a few notable quotes. This is a must read for everyone.



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  1. ​

    1. First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers.
    2. The team at See­tee is al­ready run­ning open source bit­coin pay­ment servers and will re­main ac­tive con­trib­u­tors in the com­mu­ni­ty
    3. Our col­lec­tive knowl­edge was de­rived from the ex­ten­sive and bril­liant ma­te­r­i­al pro­duced by oth­ers. These in­clude Saifedean Am­mous, An­dreas Antonopolous, Adam Back, Nic Carter, Christo­pher Cole, Ray Dalio, Michael Green, Hugh Hendry, Reid Hoff­man, Lacy Hunt, Jack Mallers, Raoul Pal, Chamath Pal­i­hapi­tiya, An­tho­ny Pom­pli­ano, Pierre Rochard, Michael Say­lor, Elis­a­beth Stark, Erik Townsend, and Grant Williams.
    4. Not investing is the riskiest decision
    5. Everything is a bet with some associated probabilities
    6. What about the risk of losing out on the upside?
    7. In the past months I have met many new peo­ple. One of them was Jack Mallers at Strike. He’s al­most forty years younger than me. Ex­pe­rienc­ing his en­er­gy and en­thu­si­asm was spe­cial . I felt old in his com­pa­ny, but also very em­bold­ened:
    8. Yes, Bit­coin con­sumes elec­tric­i­ty. And pays for it at the lo­cal­ly pre­vailing mar­ket prices. But we be­lieve Bit­coin will en­able ap­plications that can cre­ate tremen­dous val­ue.
    9. I’m cer­tain that, with time and creativ­i­ty, ap­plications that scale in sidechains and lay­ers on top of Bit­coin will flour­ish. This ecosys­tem can pro­vide mas­sive scal­a­bil­i­ty, and will only need to set­tle with the main­chain now and again. Like get­ting a stamp of ap­proval from the source of ab­so­lute truth.
    10. So when a new ar­chi­tec­ture for mon­ey emerges, it should not be entire­ly un­ex­pect­ed that crim­i­nals be­came its first users. It was more ef­ficient to use cryp­tocur­ren­cies than cash, which has al­ways been and is still avail­able for those who want a bear­er as­set to con­duct il­le­gal ac­tiv­i­ties. But when the in­ter­net went main­stream it found oth­er le­git­i­mate uses.
    11. The di­rec­tion is clear: fi­nance will be dis­rupt­ed as sure­ly as fos­sil fu­els will be. The ques­tion is not if, but when.
    12. I re­alise that in some ways Aker is very late to this space. Ob­vi­ous­ly, some peo­ple un­der­stood the po­ten­tial of this in­ven­tion many years ago. But in so many oth­er ways, as is demon­strat­ed in every­day con­ver­sa­tions with oth­er peo­ple in busi­ness, we are also rel­a­tive­ly ear­ly.
    13. Peo­ple who are a lot smarter than us be­lieve that bit­coin can in­crease in val­ue by 10, or even 50 times, in the com­ing years.
    14. We have to ex­pect a lot of volatil­i­ty. But we don’t care because we be­lieve in the long-term func­tion­al­i­ty. We would nev­er rec­ommend rel­a­tives and friends to in­vest every­thing they have in bit­coin.
    15. We be­lieve bit­coin is go­ing to be on the right side of his­to­ry. But we should re­mind our­selves that some will re­sist force­ful­ly

  2. thx for the awesome summary. looks we got a norwegian michael saylor.

    super stoked for jack, looks like he has a bright future setting up billionaires/institutions with lightning network/strike.

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