Digital artworks enabled with NFT technology and hosted on public blockchains, hereafter referred to as NFTs, beg the latest iteration of the question “what is art, and what is trash?”. When the less affluent witness immense sums spent on squiggles on a canvas, or pixelated faces, they cry “what a waste”. When one affluent cohort witnesses another break ranks and support a new art form with their nouveaux riches, they wag their fingers at the upstarts and proclaim “they have no taste”. …


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

A real trader will make a market on anything.

Story time.

As many long-time readers know, I spent the summer of 2007 in the Deutsche Bank Hong Kong internship program. I rotated on the equity derivatives sales desk. It was an era before the trading floor got woke and banned such demeaning activities as interns getting breakfast and lunch for the desk.

As an…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

Art is an expression of human civilisation’s energy abundance. When viewed in net energy terms, it is completely worthless. But when viewed as the purest expression of humanity beyond our basic functions of consuming calories, reproducing, and perishing, it is priceless. We “work” to enjoy leisure, and leisure is a personal pursuit that usually involves some art form. That encompasses music, film, paintings, sculptures…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

The greatest nation states and civilisations efficiently use energy to create economic prosperity for their subjects. Up until recently, energy meant human labour. The state constructs a system where labour is provided and an economic energy surplus is created. There are various ways in which the great societies of past and present “paid” for labour.

Pre-Industrial Revolution

Rome — Captured slaves from conquest

America…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

Every

Summer

Is

The

Fucking

Same

!

When crypto hits the northern hemispheric summer, people lose their bearings.

Price Volatility: Rekt

Price Performance: Rekt to sideways

Exchange Trading Volumes: Abysmal

Crypto Trader Sentiment: Despondent

Staying focused on what matters becomes increasingly difficult as we are bombarded with data through our internet connected devices. There is always some piece of information that can cloud our…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

The height of the northern hemispheric summer is here, and it’s vaxx-enabled party time. Don’t expect much in the way of volumes and/or volatility while traders get some well-earned time to spend their spoils.

Since the traders have taken much of the market intrigue with them as they frolic their way through the Mediterranean, I wanted to use this down time to explore one…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

One fine chill day in my senior year of university, one of my besties frantically called me in hopes I could help her pass an upcoming economics exam. I obliged, and we met up that day to go over some material. She provided a practice exam and we attempted to tackle the first question.

To kick things off, I asked her to draw the…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

The majority of my essays in 2021 have focused on the fundamental building blocks of my bullish opinion on the future of crypto. Few words are dedicated to current events unfolding before us. In an age when virtue signaling social media influencers reign supreme, critical thought that deconstructs popular narratives using logic and first principles thinking is hardly proffered. It’s why I prefer to…


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

For those of you who have a Bloomberg terminal, run FARBAST Index <GO>. This is the index that outputs the US Federal Reserve’s balance sheet in millions of USD, updated weekly. I keep droning on about this, but this number and its trajectory is the only thing that matters. …


(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

“I must not fear.

Fear is the mind-killer.

Fear is the little-death that brings total obliteration.

I will face my fear.

I will permit it to pass over me and through me.

And when it has gone past I will turn the inner eye to see its path.

Where the fear has gone there will be nothing. Only I will remain.”

- Paul Atreides…

Arthur Hayes

Co-Founder of 100x. Trading and crypto enthusiast. Focused on helping spread financial literacy and educate investors.

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