Patrick McKenzie

Biweekly newsletter about intersection of tech and finance. Deep dives into the plumbing that moves money and the businesses that build those pipes.

Popular posts: 24
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Visit bitsaboutmoney.com → RSS feedOn Hacker News Jan 2023 – Feb 2026

Tech Industry & Business 24 Society, Policy & Culture 22 Security & Privacy 1 Crypto & Blockchain 1

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Perpetual futures, explained

2025136 points79 comments Crypto & Blockchain details

Crypto’s most popular product offers capital efficiency for professionals, leveraged exposure for the masses, rich yields for market makers — and a poorly understood failure mode.