Murad Mahmudov on Bitcoin

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Murad Mahmudov works at Adaptive Capital, a cryptocurrency hedge fund with a focus on on-chain analytics. He formerly was an analyst at Goldman Sachs. In his free time, he writes about cryptocurrencies.

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Created by the pseudonymous Satoshi Nakamoto in 2009, Bitcoin is a peer-to-peer electronic cash system.

Finance and payments

Bitcoin reviews by Murad Mahmudov

🔑 2 positive | 💩 0 negative


  • 🔑

    Bitcoin exists not only on the technological layer but even more importantly, on the social layer. It is open-source software. If there is truly a technological breakthrough, it can simply be added to bitcoin.

    2018-12-25 | Full Review

  • 🔑

    [Bitcoin] doesn’t suffer from numerous problems of Gold.

    (1) Physical nature
    (2) Centralization-in-Vaults problem
    (3) Easier to seize
    (4) Harder to verify
    (5) Even more disinflationary
    (6) Susceptible to a lot of “claims” and “derivs” which expand the supply

    (7) slow to settle transactions around the world
    (8) hard to carry billions with you through the airport
    (9) have to trust intermediaries to use
    (10) not extensible / can’t build even more additional utility / perks atop it

    I can go on for days.

    2018-11-19 | Full Review

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The chances of Decred outcompeting Bitcoin are close to zero.

Mob rule/the rule of the rich is not ideal for neo-gold.

2018-08-11 | Full Review


Speed is mostly irrelevant for SoV.

It's all about security + disinflation + proven unchangeability . . . BTC beats Nano by an enormous margin.

Holding Nano as a bet it can become a "SoV" when BTC exists is irrational, dangerous, risky.

2018-08-15 | Full Review


Dash sucks, premined, shit privacy. ZEC/XMR far better.

2018-07-20 | Full Review

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I don't have a view on what the ultimate value of a Bitcoin will be nor do I care. I am interested in Bitcoin plain and simply because I believe it can be and possibly will be the financial and transactional protocol for the global Internet.

2013-11-24 | Full Review


If something is to displace Bitcoin now, it will have to have sizable improvements and it will have to happen quickly. Otherwise, this network effect will carry Bitcoin to dominance.

2014-01-21 | Full Review


Bitcoin takes powers from the central actors and returns it to merchants and consumers, savers and borrowers. Bitcoin brings back some pseudonymity in the transactions, and can be irrevocably traded like cash. And finally, it points a way towards a single currency – it is a bug, not a feature, that we have multiple global currencies with exchangers and transaction fees in between.

2013-11-07 | Full Review

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