Amber & SnapChat - Presentation
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This document discusses the evolution of money and society. It argues that money is the foundational layer of society and the most important human resource. Bitcoin is presented as an emergent form of digital and scarce money that could become a multi-trillion dollar asset class. The author advocates accumulating Bitcoin over the long run through dollar cost averaging as the greatest wealth transfer in history is currently happening through the rise of digital assets.
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Amber & SnapChat - Presentation
- 1. Welcome to the amber
- 4. @TheAmberApp amber.app 4 Background • Co Founder @ Amber Labs • Involved in: • Financial markets since 2006 • Tech since 2010 @AleksandarSvetski @AleksSvetski @AleksandarSvetski
- 5. @TheAmberApp amber.app 5 Overview Money: Definition & Evolution Bitcoin Total Addressable Market (TAM) Dollar Cost Averaging
- 7. Nothing great was ever built on shit foundations. Aleksandar Svetski, 2019 “
- 9. Cognitive ability to communicate about abstract ideas/concepts Biological ability to communicate Communication
- 11. In communicating about fantasies / imaginary concepts & fictions, we’re able to “hack” our biology & attain the trust required for us to cooperate in numbers that exceed our strictly biological limits. “ Aleksandar Svetski, 2019
- 12. Abstract, shared fictions, flexible and large numbers. Reality, straight biology, flexible or large numbers. Homo Sapiens All other Species Hacking trust
- 13. Homo sapiens
- 14. @TheAmberApp amber.app 14 5 25 100 150 250 500 Dunbar’s Numbers Dunbar’s number is a suggested cognitive limit to the number of people with whom one can maintain stable social relationships
- 15. These shared fictions have become the ephemeral / non-physical resources via which we organise ourselves & build society. “ Aleksandar Svetski, 2019
- 16. @TheAmberApp amber.app 16 Shared fictions Politics Government Gods KingsLaws Nations Corporations Religions
- 18. Money
- 19. Money is not the root of all evil. Money is the root of all complex cooperation. “ Aleksandar Svetski, 2019
- 20. Society Money Communication The Societal stack Ground zero Biology Chemistry Physics @getamber.io amber.app amberexchange
- 21. Money is the ultimate human resource
- 22. @TheAmberApp amber.app 22@getamber.io amber.app amberexchange
- 23. @TheAmberApp amber.app 23 Promises, not barter
- 24. @TheAmberApp amber.app Evolution of money
- 25. @TheAmberApp amber.app 25 MONEY Store of value Means of exchange Unit of Account $ Definition: Abstraction / Representation of Value Cognizability Divisibility Scarcity AttributesFunctions Fungibility Portability Durability
- 26. If money is the foundational layer for all of society & its most important resource, it should be robust, transparent & owned by the constituents.
- 27. Bitcoin
- 28. Bitcoin is an emergent monetary phenomenon. Not some “payments tech”. 1. Emergent 2. Scarcity 3. Lindy Effect In 2009….. Why Bitcoin?
- 29. Networks Game Theory & Mechanism Design Cryptography Proof of Work / Byzantine Fault Tolerance Social Engineering / Psychology Computer Science Decentralization/ Distributed Computing Economics Incentive & Disincentives Data Structure (Blocks of data, cryptographically chained) The Bitcoin Recipe
- 30. @TheAmberApp amber.app Fiat Bitcoin Store of value Decreasing Simple means of exchange Unit of account/measure of wealth Got a while to go Fungibility Mostly Divisibility Mostly Recognizability Homogeneity Scarcity @getamber.io amber.app amberexchange
- 31. @TheAmberApp amber.app Scarcity Why is it so important? It ensures value is maintained, across the dimension of time. It’s at the core of how we intuitively define value, eg: • Close friends / family members • Personal trinkets (from your great, great grandma) • Art • Time You get ONE shot at digital scarcity
- 34. @TheAmberApp amber.app >90% of Liquidity >90% of Hashpower >90% of Miner Fees 100% of Crypto Pairs Clear SoV narrative Lindy & Network effects Un-inflatable, Un-confiscatable, Un-compromisable digital network + unit. Lindy, Network & Convergence
- 35. @TheAmberApp amber.app Bitcoin is not its code, or its community, its miners, its block size, or its history - it’s all of these things, all mixed together. This emergent, complex nature makes Bitcoin the only one that matters. It’s why no other money, network or copy- cat clepto-currency can ever replicate it. Why Bitcoin
- 36. The Data
- 37. @TheAmberApp amber.app Capital flow 21m 21m (Higher unit value) Today: $100 bn Tomorrow: $10 tril (Digital Gold) Verifiably scarce unit supply Bitcoin SoV 37
- 40. @TheAmberApp amber.app 40 -87% The end? -84% Wait… Maybe this is the end? -87%
- 44. @TheAmberApp amber.app 44 Bitcoin MKT CAP $100 mil 2012
- 45. @TheAmberApp amber.app 45 Bitcoin MKT CAP $3 bn 2015 2012 $100mil
- 46. @TheAmberApp amber.app 46 Bitcoin MKT CAP $3 bn 2015 Bitcoin MKT CAP $8 bn 2016 2015 $3bn 2012 $100mil
- 47. @TheAmberApp amber.app 47 Bitcoin MKT CAP 2012 $100mil Bitcoin MKT CAP $25 bn 2017 Bitcoin MKT CAP $8 bn 2016 2015 $3bn 2016 $8bn
- 48. @TheAmberApp amber.app 48 Bitcoin MKT CAP 2012 $100mil Bitcoin MKT CAP $8 bn 2016 2015 $3bn 2016 $8bn 2017 $25bn Bitcoin MKT CAP $250 bn 2018
- 49. @TheAmberApp amber.app 49 Bitcoin MKT CAP $250 bn 2018
- 50. @TheAmberApp amber.app 50 Bitcoin MKT CAP $250 bn 2018 Bitcoin Gold $8 trillion Today
- 55. @TheAmberApp amber.app 55 T.A.M. Bitcoin Network Value = $30T Price / BTC = $1.5m Asset Asset Value % Allocation Capital Flow Gold A$8,000,000,000,000 20% A$1,600,000,000,000 Base Money A$29,000,000,000,000 5% A$1,450,000,000,000 Bank Money A$50,000,000,000,000 5% A$2,500,000,000,000 Gov Bonds A$56,000,000,000,000 3% A$1,680,000,000,000 Stocks A$120,000,000,000,000 3% A$3,600,000,000,000 Real Estate A$300,000,000,000,000 3% A$9,000,000,000,000 Derivatives $1,000,000,000,000,000 1% A$10,000,000,000,000
- 56. @TheAmberApp amber.app 56 T.A.M. Bitcoin Network Value = $30T Price / BTC = $1.5m Asset Asset Value (T) % Allocation Capital Flow (T) Gold A$8 20% A$1.60 Base Money A$29 5% A$1.45 Bank Money A$50 5% A$2.50 Gov Bonds A$56 3% A$1.68 Stocks A$120 3% A$3.60 Real Estate A$300 3% A$9.00 Derivatives A$1,000 1% A$10.00
- 58. @TheAmberApp amber.app 58 Bitcoin is a $140bn collective savings account, that started from zero.
- 59. amber.appgetamber.io Adoption The only form of adoption that matters right now is ACCUMULATION. It’s a shift in thinking. • Saving. • Investing for the future. Not more debt & spending.
- 60. amber.appgetamber.io We are still early Trust takes time Networks build over decades Contentious networks, like Money, take longer - Gold took thousands of years Paper money has taken many hundreds of years.` We’re 10yrs in. Still super early. This is a generational shift being led by Millennials.
- 61. @TheAmberApp amber.app Awareness vs Adoption 61 Despite the broad awareness around digital assets, a disproportionately small percentage of people are involved. 0% 25% 50% 75% 100% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Awareness Adoption Closing the Gap Unseen level of Asymmetry
- 62. amber.appgetamber.io Dollar cost averaging Play the long game Spread your risk, spread your investments Allocate what you’re comfortable with, speculate with only what you’re willing to completely lose Set & Forget Use low risk money
- 63. amber.appgetamber.io DCA Analysis • Pete’s Spreadsheet LIVE here.
- 64. Amber - Seed Deck Please Keep Confidential It’s why we built Amber 64 Micro-savings Investments Exchange Wallet
- 65. Amber - Seed Deck Please Keep Confidential All in One 65 Buy / Sell Pay & Send Investment Automation Save / Trade HODL Lend & Borrow
- 66. amber.appgetamber.io Conclusion The greatest wealth transfer in history is happening right now.
- 67. amber.appgetamber.io Argument • New / parallel monetary infrastructure. • Finite unit availability • TAM = multiple trillions of dollars. • Lindy + the convergent network effects of money = winner takes all / most. • Power law distribution • Most asymmetric opportunity that exists
- 68. amber.appgetamber.io Question • Today, <5m people globally hold any meaningful amount of bitcoin. • What happens when 20m people hold some Bitcoin? • What happens when 1bn people hold some Bitcoin?
- 69. amber.appgetamber.io Conclusion • Buy & hold some bitcoin (asymmetry) • Download Amber Now (DCA)
- 72. Amber - Seed Deck Please Keep Confidential $10 worth of Bitcoin 72 First 100 people. Tonight Only Matched to $10. If I were you, I’d personally be buying $1000 (not financial advice)
- 73. Amber - Seed Deck Please Keep Confidential Feedback Form 73 Sent via email to everyone. Would love your feedback + comments
- 74. Amber - Seed Deck Please Keep Confidential Questions 74 See the Amber team running around Along with WeWork & Snap Panel Next. After… Eat, Drink & NETWORK!
- 75. @TheAmberApp amber.app Aleksandar Svetski I aleks@getamber.io I amber.app Down- load amber now…