Fundamentals of Fundamentals
by Fundamentals
Fundamentals explains his tweets and speaks his mind without character constraints
Podcast episodes
Season 1
FF6: Fundamentals of "Bitcoin Company" IPOs (The Fold/Swan dichotomy)
Summary This conversation explores the rise and fall of two Bitcoin companies, Swan and Fold. Swan was once highly respected and known for calling out scams in the industry, but their reputation took a hit when their custodian, Prime Trust, went bankrupt. On the other hand, Fold built alternative rails and avoided the Prime Trust issue, leading to their upcoming IPO. The conversation raises the question of whether there is such a thing as a Bitcoin company and highlights the importance of discipline and avoiding blind spots in the industry. Takeaways Swan and Fold were two Bitcoin companies with similar objectives, but Swan's reputation suffered when their custodian, Prime Trust, went bankrupt. Fold built alternative rails and avoided the Prime Trust issue, leading to their upcoming IPO. The conversation raises the question of whether there is such a thing as a Bitcoin company. Discipline and avoiding blind spots are crucial in the Bitcoin industry. Chapters 00:00 Introduction and Background 02:24 The Rise and Fall of Swan and Fold 07:05 Swan's Unfortunate Sponsorship 10:47The Bankruptcy of Prime Trust 14:20 Swan's Layoffs and Fold's IPO 19:08 Swan's Humility and Fold's Watchlist
FF5: Fundamentals of Fiat Exodus
Summary. In this conversation, Fundamentals reflects on his transition from a long career in the fiat world to the world of Bitcoin. He compares his journey to the biblical story of Genesis, Exodus, and Leviticus, and contemplates the purpose of his deep dive into mathematics. He discusses the importance of personal integrity and conviction in navigating the Bitcoin world and contrasts himself with his former peers who are unable to walk away from the power and position that fiat provides. Fundamentals also emphasizes his passion for developing people and his desire to create a math and Bitcoin academy. Takeaways Transitioning from a fiat career to the world of Bitcoin requires personal conviction and integrity. Deep diving into mathematics in the Bitcoin world can be challenging but rewarding. Walking away from power and position in the fiat world is a rare and courageous choice. Fundamentals is passionate about developing people and wants to create a math and Bitcoin academy.
FF4: Fundamentals of Standup Comedy
In this episode, the host shares two stories from his stand-up comedy journey. The first story is about a disastrous performance in New York where the crowd hated him, but he learned to overcome it by using self-deprecating humor. The second story is about dealing with a heckler, where he found the courage to stand up for himself and gained a newfound confidence. These stories highlight the challenges and triumphs of being a stand-up comedian.
FF3: Fundamentals of Integrity
In this solo rip, Fundamentals discusses the concept of integrity and how it is not related to morality. He explains that integrity is the foundation for fulfilling commitments and achieving goals. Fundamentals emphasizes that the size of one's commitments is limited by their level of integrity. He gives examples of commitments such as having more Bitcoin at the end of the year and making it in life. Fundamentals highlights the importance of keeping one's word and building a strong relationship with it. He concludes by encouraging listeners to develop a strong foundation of integrity.
FF2: Fundamentals of Blockspace Markets
Summary. In this conversation, Fundamentals discusses various aspects of the Bitcoin ecosystem, focusing on the market for block space and its significance. The conversation begins with an introduction and appreciation for the feedback received. Then, the discussion moves to Bitcoin Mechanic's statements about the block space market and high fees. Fundamentals emphasizes the importance of market dynamics and incentives in determining the fee market. The conversation further explores the morality of block space usage and the purpose of Bitcoin in challenging fiat systems. Finally, Fundamentals highlights the impact of block space scarcity in dismantling traditional financial systems. Takeaways The market for block space in Bitcoin is driven by market dynamics and incentives, rather than moral judgments. Bitcoin's purpose is to challenge and dismantle fiat systems, and its impact is not solely dependent on widespread ownership or usage of UTXOs. Block space scarcity is a feature of Bitcoin that contributes to its ability to disrupt traditional financial systems. Virtue signaling and moralizing about block space usage can distract from the broader goal of Bitcoin's impact on fiat.