John BrΞnnan @worldlyjohn

Almost everything in crypto that failed the first time will eventually work sometime in the future. Bitcoin looked like it had failed many times in the past. The same will happen with NFTs, creator tokens, DAOs, gaming, TCRs, onchain reputation, rebase tokens, decentralized storage etc As time passes each of these ideas will make even more sense. I just think we’re still too early for many of them, and we don’t quite understand the need yet. But eventually it’ll make sense.

Cool stuff usually seems dumb at first. Keep going if it excites you.

🎯🎯

@levelsio @levelsio

2 weeks ago

I increasingly have no idea about anything anymore, time is changing too fast, and with AI everyone is equal now, nobody really knows anything while there is a superintelligence that's actually moving things into a direction that nobody can predict

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Frontier captures 90%+ of economic value. Open source handles 80%+ of tokens. Both can be true. -@GavinSBaker

Taking on challenges makes life worth living

⚡️Finance is about to become software. Not metaphorically. Literally. For centuries, ownership has been trapped inside slow institutional databases that cannot communicate. Every intermediary exists because those databases do not naturally synchronize. Clearing houses, custodians, transfer agents, reconciliation teams, settlement cycles, correspondent banks - all compensate for fragmented ledgers. A globally shared settlement layer removes an enormous amount of that coordination cost. That changes the architecture of capitalism. The biggest misconception is believing tokenization is about creating new assets. It is about making capital programmable. Once capital becomes programmable, assets stop behaving like static certificates and start behaving like software objects. Software compounds. Static paperwork does not. The next twenty years are less about crypto than about the operating system underneath finance replacing the operating system above it. Most people are staring at coins. The money is in the rails. The market will eventually stop saying “crypto” and simply call it finance. The winners will not necessarily be the loudest blockchain projects. The winners will own the interfaces between governments, institutions, identity, custody, liquidity, and programmable settlement. Every previous financial revolution reduced friction. Electronic exchanges replaced trading pits. Internet banking replaced branches. Digital payments replaced cash. Programmable ownership replaces paperwork. That progression feels structurally inevitable. The largest underappreciated implication has almost nothing to do with speculation. Collateral becomes mobile. Capital becomes continuously usable. Idle balance sheets become productive. Settlement risk collapses. Velocity increases. Once capital can move instantly, entirely new financial products become possible that simply could not exist under multi-day settlement. That is where the explosion comes from. The deepest insight in Chesky’s thread is the comparison with the internet. The internet did not make information more valuable. It made information frictionless. The value explosion came afterward because friction disappeared. The same pattern is likely to occur with capital. The hidden variable almost nobody appreciates is artificial intelligence. Human-scale financial infrastructure becomes the bottleneck once AI agents begin transacting economically. Software negotiating with software cannot wait for paper signatures, manual reconciliation, business hours, or settlement cycles measured in days. Machine-speed economies require machine-speed ownership. Programmable capital is the financial operating layer for autonomous economic agents. That convergence between AI and tokenized financial infrastructure is much bigger than tokenizing real estate. That is the real destination.

Socialism is an Industrial Age framework when capital was scarce. We're moving into a post-Industrial Age (Digital Age) where attention is scarce.

Markets are excellent for allocating capital, but bad at allocating attention where no market price exists. Things like meaning, climate risk, scientific discovery, democracy, or long-term species-level opportunities. Continue to believe crypto-economic systems play a role here

The great lie is that society is divided between rich and poor. The great truth, as David Friedberg puts it, is makers vs takers. Makers build, create, and deliver real value: houses, software, art, businesses, and everything that moves civilization forward. Takers watch, criticize, analyze, and politic. They push the lie that the rich hoard unfairly so the poor must seize it… all while positioning themselves to rule the chaos. As @friedberg tells his kids: “At the end of the day, if you made something and someone else valued it, you were a maker. That was an amazing achievement. That is a great day.” Takers thrive on division. Makers drive progress. Time to choose your side.

Failure of a society can be observed when it costs more to reproduce less.

No, you don't get it. He does not have $1 trillion sitting in cash, it is 99% stock in his companies. To make that wealth liquid would mean selling all that stock which would swiftly destroy *both* the companies (Tesla, SpaceX, others) and the wealth. If he sold it all, he'd end up with maybe $100b max, several hundred thousand people would be out of work, the companies ruined and many of their suppliers also ruined. Okay, but now Elon has $100b in cash, and can "solve the world's problems". $100b divided by the world's 8 billion people is $12 If you were in charge, several of the most innovative industrial companies in the world would be destroyed, hundreds of thousands out of work, and space would again close to human civilization for another generation. But everyone on earth could have one nice meal and you could revel in your altruism.

Very promising

Dan Robinson @danrobinson

3 months ago

Millions of BTC could be vulnerable to quantum computers Bitcoin may someday need to sunset those addresses, but that could force a public migration Today we published a design to let that migration be costless and silent: Public Address-Control Timestamps (PACTs) Link in 🧵

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"Orgs chart will shift from hierarchies of supervision to networks of intent with AI becoming the translation layer" -- Moonshots block.xyz/inside/from-hi…

x.com/anthropicai/st…

Anthropic @AnthropicAI

4 months ago

Introducing Project Glasswing: an urgent initiative to help secure the world’s most critical software. It’s powered by our newest frontier model, Claude Mythos Preview, which can find software vulnerabilities better than all but the most skilled humans. anthropic.com/glasswing

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Claude Mythos 🤯🤯

I’m not sure how to feel yet about ephemeral software

Prior administration's SEC (both under Biden and under Trump before) destroyed tens (arguably hundreds) of billions of dollars in value, punishing consenting adults for making their own financial decisions, in what is allegedly a free country that allegedly permits and encourages entrepreneurship, risk taking, and individual responsibility. The consequence of Gensler's SEC was, most obviously, a substantial reduction in entrepreneurs' willingness to attempt token designs of authentic utility. The flourishing of utility tokens post EVM (2016-2018) came to an end under fear of persecution. In its place, an era of memecoins and even greater scams that went entirely unprosecuted until post-collapse, like FTX. "If you try to build something of utility, we will ruin your life. If you make dog meme, no prob. If you steal $10b in customer money outright, we'll ask you for input on upcoming bills in DC so long as you donate some of it to our campaigns." The current SEC is materially better. Today's guidance is good, not because it is "clear" (ambiguous liberty is superior to clearly defined oppression), but because it recognizes limits on its own power; because the scope of tyranny over an allegedly free people is lessened. Importantly, what's new here is correct exclusions from security-definition of both "Digital Collectibles" and "Digital Tools". The latter aka utility tokens, so often persecuted under Gensler's regime. Digital Collectibles and Digital Tools are each massive categories. Huge, open territory for innovators to once again explore. To the current SEC, thank you for improving toward the ideals of what makes America good. I encourage anyone who was persecuted by the prior agency to post anything you feel comfortable sharing in the comments.

U.S. Securities and Exchange Commission @SECGov

5 months ago

TODAY 🚨: The Commission issued an interpretation that clarifies the application of federal securities laws to crypto assets. This is a major step to provide greater clarity regarding the Commission’s treatment of crypto assets. Read the release here: ow.ly/XhhV50YvxvO

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Our elected officials don’t seem prepared Society doesn’t seem prepared Many dems believe we need to reorganize around socialism which is to say top-down. Heart is there but imo it won’t work I actually think we need to reorganize society bottom-up. Decentralized & distributed

Well except for an asset or two

On a long enough time horizon nothing is scarce. intelligence (AI) labor (robots) energy (the sun) minerals (asteroids) the future is constrained by imagination and coordination