Observations About Amaury’s Thought Processes

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Written by
3 years ago

This is purely my opinion so feel free to take it lightly. Here are my observations about Amaury, based on his public tweets and public rants. Sorry that I won’t be linking sources here because I don’t have the time.

My observations is that Amaury is too analytical and made similar mistakes economists make when they try to rationalize human behaviors. A very good example is when Amaury suggested that it makes economical sense to pay $X million dollars to Bitcoin ABC rather than seeing the marketcap of Bitcoin Cash drop by $1 billion dollars. Indeed, logically it does make sense to lose $X million dollars (lesser) than to lose $1 billion dollars. This reminds me of an experiment psychologists did before.

The experiment goes something like this. You pass $10 to person A. Person A can decide how much of that $10 to share with person B. If person B accepts the offered amount, then both person A and person B walks away with their agreed split of the $10. If person B declined the offered amount, then person A and person B both walks away with nothing. This is called the Ultimatum Game.

Logically speaking, person B should always accept any offer above $0, because walking away with some money is always better than walking away with nothing. But human beings don’t work like that. People remember when you treat them badly. People also remember when you treat them well. And their reactions will be aligned with your actions.

In this case, lots of people are already super pissed with Amaury. When you are super pissed with someone in the Ultimatum Game, you may be willing to sacrifice your own money to make sure the other person walks away with nothing. And I believe that’s exactly what we’re seeing right now with Bitcoin ABC.

There is a key lesson from this. People are not computer programs and they will remember how you treat them. Therefore, if you do not want others to treat you badly, then make sure you treat them well.

And for the people worried about Bitcoin Cash’s price, don’t be. Prices can recover rather quickly because the liquidity of Bitcoin Cash is still very thin, where a single whale order can easily double the price of Bitcoin Cash overnight. Plus when the right moment comes, I will do my part pitching Bitcoin Cash to VCs and friends within my social circle. It is easy to pitch something when my heart and soul is in it, knowing that I’m bringing them into something I myself has a strong conviction in. It is difficult and probably unethical to sell something when I myself don’t have confidence in. And with Bitcoin Cash showing it is truly decentralized, where even a rogue dictator misbehaving will be purged, that confidence is gradually coming back.

A new dawn is coming. Things are looking up for Bitcoin Cash. I can feel it.

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Written by
3 years ago