On Crypto Valuation
Table of contents

A letter from the author | 作者的话

Dear readers,

Today, I officially kicked start my own long-anticipated book project, On Crypto Valuation, as an important stepping stone to empower my colleagues, partners and friends in Web3, with the mental models to be curated in the OCV book.

In my early 20s, I was an avid student of Austrian Economics and found the Austrian monetary theories offering me the most powerful framework to look at the phenomenon of currency, or more colloquially, money.

My Web3 study journey started around 2017. My first mental model back then was like, “Let’s build apps on blockchains without its monetary features”. As I learned along and did various jobs in Web3, I came to realize that this mental model will NOT leverage the full potentials of any (permission-less) distributed ledger tech to mediate human economic behaviors. Around 2021, I got approached by Web3 investor Eric, and we dived deep into lots of topics and innovation opportunities in Web3. A few web3 product design and consulting jobs later, I found myself super efficient in explaining the basics of crypto to anyone with my framework of The 3 Utilities of Money.

After my Singapore and Malaysia trip in 2024, I realized that by marrying my Austrian economics thinking with my observation on web3 industry, I could offer the world the ultimate mental model on crypto valuation, from Bitcoin network, Ethereum, Solana and many more to come. We keep seeing all the fascinating products, people, stories, and scams, which is necessary in such early days of Web3.

By putting my thoughts into writing, and especially by leveraging the best strategy of coaching and AI agents, I could contribute ALL I know about Web3 by running this book project, and wrap all my crypto-related projects around this book.

I’m not shy in encouraging all my readers for following through around the book, OCV, On Crypto Valuation, with this learning goal,

Mastering the No. 1 Economics Principle for Crypto Valuation

I chose to open source the book’s text from day ONE, so that we all benefit from the open knowledge built upon the Austrian tradition. With such open knowledge approach, we’re actually building the book together, as part of the great conciousness on the No. 1 Economics Principle for Crypto Valuation.

Chance Jiang Feb 17, 2025

How Chance Jiang is using AI to assist his book writing

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