Bitcoin: why it exists
Before asking ‘should I buy Bitcoin?’, ask the better question: what problem does it solve? A first-principles look at digital scarcity, trust, and why twenty-one million matters.
Explainers
The foundational questions, answered once and kept current. No news in here, only the things that stay true long enough to build on.
Begin here
Bitcoin: why it exists
Before asking ‘should I buy Bitcoin?’, ask the better question: what problem does it solve? A first-principles look at digital scarcity, trust, and why twenty-one million matters.
Begin the read →Explainers · Sirruna
i.
Permission to engage on your terms. This is where it starts.
the reads
Evergreen · fifteen, ordered foundations first
IFirst PrinciplesWhat this asset class is
Ethereum: platform vs currency
Why comparing Ethereum to Bitcoin misses the point. Understanding the world computer and why it matters.
Consensus: how blockchains agree
Proof of Work, Proof of Stake, and why the differences matter more than you think.
Stablecoins: the bridge
How dollar-pegged tokens became crypto’s most practical innovation, and the risks that come with them.
IIThe InstitutionsHow serious money arrived
ETFs: Wall Street’s gateway
How BlackRock, Fidelity and traditional finance finally embraced Bitcoin, and what it means for serious investors.
Valuation: how to think about crypto worth
There is no price-earnings ratio for Bitcoin. So how do serious investors think about what crypto assets are actually worth?
Regulation: what actually matters
The regulatory landscape is complex, evolving and often misunderstood. What serious investors actually need to know.
IIIThe InvestorKnow the game, know yourself
Traders vs investors: two different games
Different metrics, different timeframes, different tools, different mental models. Confusing the two is the most expensive mistake in the market.
Portfolio allocation: the practical framework
How much crypto belongs in a portfolio? The frameworks serious investors use to answer the question.
The six investor archetypes
The same market data means different things to different investors. Owl, Elephant, Wolf, Hawk, Fox or Lion, and what each one should read first.
IVThe FrontierWhere it goes next
DeFi: banking without banks
Lending, borrowing and trading through code instead of intermediaries. How it works, and why it matters.
Layer 2s: scaling explained
Why blockchains are slow by design, and how Layer 2s solve the problem while preserving what matters.
Oracles: connecting chains to reality
Blockchains exist in isolation. Oracles bridge the gap to real-world data, and why Chainlink leads.
Real world assets: crypto meets TradFi
Tokenised treasuries, real estate and private credit. How traditional assets are moving on-chain, and why BlackRock is paying attention.
The million-dollar question
If Bitcoin reaches one million dollars, what happens to the money in everyone else’s pocket? The honest answer changes completely between one million and ten.
Four reads carry no byline on the desk. They are listed as unsigned rather than left out, so the gap is visible and can be closed. Dates are when the read was written; every read is reviewed when the thing it describes changes, and a material revision is logged on Corrections.