Vol. I — No. 1The First IssueSummer MMXXVI
Hysteresis Research迟滞研究

Notes

The long form between trades

Shorter pieces from the desk — observations, theses that were retired and why, the shape of a regime transition once the prose has settled.

  1. MSTRThe flywheel, in reverse
  2. MACROPower Is the Binding Constraint on Compute
  3. MSTRDiscount, unwinding
  4. BTCShallower, so far
  5. BTCNot the line, the touch
  6. BTCDecoupled, on one side
  7. BTCThe prior, conditioned
  8. BTCPremium, compressing

More in preparation. Each note is published when it can stand on its own.