crypto
/crypto14062
Discussions about crypto generally, from its use and tech to its culture and philosophy. Spammy talk about price, charts, gambling, etc. will be hidden or banned. See norms.
Daren and @eddy discuss the price-innovation cycle in this cool report,
but it suggests the pattern is breaking:
In 2022, price and search interest went down while devs stayed flat.
In 2024, price went up, search interest flat, but ~40% of developers left the industry.
What's the best explanation for this discrepancy?
but it suggests the pattern is breaking:
In 2022, price and search interest went down while devs stayed flat.
In 2024, price went up, search interest flat, but ~40% of developers left the industry.
What's the best explanation for this discrepancy?
all of these will converge to exactly the same product in ~2 years:
- phantom
- privy
- coinbase wallet
endgame of wallet UX is to have:
- something that developers can easily onboard users to (today embedded wallets of privy win)
- something that shares liquidity across apps (today coinbase wallet win)
- a sleek standalone app that can be used from the couch (today phantom wins)
the battle is for ~trillions of assets managed to be managed from these wallets in 5-10 years from now
- phantom
- privy
- coinbase wallet
endgame of wallet UX is to have:
- something that developers can easily onboard users to (today embedded wallets of privy win)
- something that shares liquidity across apps (today coinbase wallet win)
- a sleek standalone app that can be used from the couch (today phantom wins)
the battle is for ~trillions of assets managed to be managed from these wallets in 5-10 years from now
As the self proclaimed warpcast goatse expert (I don’t want this title actually)
I need to alert you to this
https://x.com/aisafetymemes/status/1846220545542529329?s=46
I need to alert you to this
https://x.com/aisafetymemes/status/1846220545542529329?s=46
Went back to the archives for @naval and @balajis.eth content
https://open.spotify.com/episode/4aRy1kFoTnan8kTx9BohoN?si=i5zdpMb_SMa8FkzZe4xVjg
——
Notes for those interested ⬇️
Blockchains: bring market-based network mechanism into digital systems
But paying with resources (compute, solar power, internet or cellular bandwidth, etc.)
System for making leaderless (and transparent & decentralized) networks
Starting with money, but other resource networks as well
And things like contracts, video game potions, etc. (coordination)
Byzantine Generals’ problem: how to have a network without a ruler in the center
Internet: digitized books and movies and music and information
Blockchain: digitize value and ownership and contracts and coordination
Ethereum: trustless computing
Both history of money & history of internet are useful
Digitized information -> digitized scarcity
Medium exchange has stronger network effects than store of value
Good for mega tiny and mega large transactions
https://open.spotify.com/episode/4aRy1kFoTnan8kTx9BohoN?si=i5zdpMb_SMa8FkzZe4xVjg
——
Notes for those interested ⬇️
Blockchains: bring market-based network mechanism into digital systems
But paying with resources (compute, solar power, internet or cellular bandwidth, etc.)
System for making leaderless (and transparent & decentralized) networks
Starting with money, but other resource networks as well
And things like contracts, video game potions, etc. (coordination)
Byzantine Generals’ problem: how to have a network without a ruler in the center
Internet: digitized books and movies and music and information
Blockchain: digitize value and ownership and contracts and coordination
Ethereum: trustless computing
Both history of money & history of internet are useful
Digitized information -> digitized scarcity
Medium exchange has stronger network effects than store of value
Good for mega tiny and mega large transactions
Dev going to prison.
Token up 100%.
I love this industry.
Token up 100%.
I love this industry.
Facaster Index - Green / Red Buckets
Green
------
DEGEN
HIGHER
DOGINME
TYBG
NOUNS
ENJOY
BORED
Red
------
MOXIE
ONCHAIN
BUILD
https://www.farcaster.in/
Green
------
DEGEN
HIGHER
DOGINME
TYBG
NOUNS
ENJOY
BORED
Red
------
MOXIE
ONCHAIN
BUILD
https://www.farcaster.in/
lusting after a new Ledger device
$BTC 1D - Bullish at resistance.
as a fan of an artist, one ought to be able to transfer funds to a wallet for the artist to claim at some point in the future
Metamask continues to be a trash product compared to other wallets. (And I invested in it). So massively disappointing.
$30 fee to swap a token on mainnet. yeah, i don't care how many L2s there are or how many more there will be, but i'm happy they exist
Gm
Last cycle was about VC’s dumping alt L1 coins on us.
This cycle is about Cabal dumping memecoins on us.
Which is better?
https://frame.weponder.io/api/polls/23009
Last cycle was about VC’s dumping alt L1 coins on us.
This cycle is about Cabal dumping memecoins on us.
Which is better?
https://frame.weponder.io/api/polls/23009
$USDaf (I know, not a great name) is a stablecoin backed by $SPOT, the innovative the low-volatility flatcoin which is itself actually a derivative of $AMPL
This confusing sounding Russian nesting doll of a token, is actually, perhaps, the most innovative token since $SPOT itself.
A stable token backed by a low-volatility derivative backed by a relatively-low-volatility elastic supply flatcoin. If it works as designed, it’s a completely decentralized and permissionless, low-risk-of-liquidation, inflation resistant, money.
https://x.com/spotprotocol/status/1844792757002584120?s=46
This confusing sounding Russian nesting doll of a token, is actually, perhaps, the most innovative token since $SPOT itself.
A stable token backed by a low-volatility derivative backed by a relatively-low-volatility elastic supply flatcoin. If it works as designed, it’s a completely decentralized and permissionless, low-risk-of-liquidation, inflation resistant, money.
https://x.com/spotprotocol/status/1844792757002584120?s=46
After doing some thinking, here are some of my thoughts re: this risk
Lmk what y'all think
- pro crypto creates US hub for talent and business (good for country, GDP, tax revenue)
- lots of financial payments on crypto still done in USD
- more likely to draw away money from other, worse currencies than USD (if anything, creates more liquidity/better systems for USD democratizing USD access to other countries) - if the best money wins, and crypto is infrastructure, there’s still a place for USD, not so much for other, less good currencies
- more likely another good option for a new economy, not necessarily needing to replace anything
- more store of value/commodity than unit of exchange
Key risk to the dollar isn't crypto itself but a failure by the US to innovate with blockchain tech - would allow other countries to leapfrog in the race toward innovative/digital finance
Could actually argue that embracing and clearly regulating crypto is likely to strengthen the dollar’s role, not weaken it
Lmk what y'all think
- pro crypto creates US hub for talent and business (good for country, GDP, tax revenue)
- lots of financial payments on crypto still done in USD
- more likely to draw away money from other, worse currencies than USD (if anything, creates more liquidity/better systems for USD democratizing USD access to other countries) - if the best money wins, and crypto is infrastructure, there’s still a place for USD, not so much for other, less good currencies
- more likely another good option for a new economy, not necessarily needing to replace anything
- more store of value/commodity than unit of exchange
Key risk to the dollar isn't crypto itself but a failure by the US to innovate with blockchain tech - would allow other countries to leapfrog in the race toward innovative/digital finance
Could actually argue that embracing and clearly regulating crypto is likely to strengthen the dollar’s role, not weaken it
Science of Blockchain Conference ‘24: Field notes
by Joseph Bonneau, Pranav Garimidi, & Joachim Neu
📝: https://a16zcrypto.com/posts/article/science-of-blockchain-conference-24-field-notes/
by Joseph Bonneau, Pranav Garimidi, & Joachim Neu
📝: https://a16zcrypto.com/posts/article/science-of-blockchain-conference-24-field-notes/
The days of maintaining cosmosSDK forks might be over
babe wake up, new cosmosSDK direction just dropped
https://x.com/cosmos_sdk/status/1844300704569040993
https://x.com/cosmos_sdk/status/1844300704569040993
Visa is launching a platform for banks to issue fiat-backed tokens such as stablecoins and tokenized deposits https://www.bloomberg.com/news/articles/2024-10-03/visa-launches-platform-to-help-banks-issue-stablecoins-globally
Ok boost run out soon … how about uniswap just launched their own L2, fuckin A … I am so bullish right now, I could not focus :)
everything in crypto will be vertically integrated
apps that control dau and liquidity will be the only products that can capture value
expect more moves like this
apps that control dau and liquidity will be the only products that can capture value
expect more moves like this
A vision for blockchain: Potholes
Potholes happen because no one is incentivised to fix the road properly when it’s dug up.
What about a future world where everyone working on a job has a future streaming payment guaranteed to execute onchain if the road they built hasn’t fallen in.
Clearly some infra needed to get us there, but I bet we’d have less potholes.
Potholes happen because no one is incentivised to fix the road properly when it’s dug up.
What about a future world where everyone working on a job has a future streaming payment guaranteed to execute onchain if the road they built hasn’t fallen in.
Clearly some infra needed to get us there, but I bet we’d have less potholes.
Christine Lagarde on the 2% inflation target.
Saying the quiet part out loud.
Saying the quiet part out loud.