Apertamono = Open Money
In it for the technology
Joined November 2014
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The USP of crypto is not financialization, but both simple payments on one side and web3 apps on the other.
DeFi is limited to insiders, while tokens are just gambling.
What makes blockchains useful in the real world is allowing anyone to buy or publish whatever they want.
Blockchains have always been and always will be tech for finance. Their core purpose is financialization.
That’s why architecting a chain to protect unification of liquidity is more important than practically anything else.
I am happy the misadventures around things like gaming in particular are fully dead and over.
More broadly, I felt the “read write own” / web3 articulation was too skeuomorphic and, frankly, intellectually lazy to transpire because new tech is never as simple as putting something on a blockchain and voila. You have to create new markets.
This narrative functioned more as a fig leaf for a reason to put VC dollars into more unnecessary infrastructure to rationalize a desire to create a private asset that could become magical internet money.
The more folks that launched projects to attract price based on selling a narrative to the wild Wild West of internet liquidity, the harder the legitimizing narrative machine worked to ascribe value to all this as the third coming of apps - “all the stuff you do today, but now it pays you”
In reality, the opportunity is immense, and bigger than our most creative minds can imagine, but not as it’s been articulated over the last few years.
This blockchain adventure has always been about finance: open financial rails for anyone and everyone on the internet.
This makes it newly possible for capital formation and internet formation to happen anywhere in the world, and for the ensuing innovation and progress to take hold. Open finance enables greater economic freedom and with it individual sovereignty and agency.
Bitcoin users go to jail:
From an 1886 Panopticon prison of total surveillance… to a citadel of freedom and sound money.
The venue for Adopting Bitcoin Arnhem 2027 is officially revealed: De Koepelgevangenis. ⚡
Celebrate 13 years of the world's longest-running Bitcoin City with builders and sovereign minds from around the globe. Once every three years; don't miss this one.
📅 28 – 29 May 2027 | Arnhem, NL
🎟️ Tickets: nl27.adoptingbitcoin.org/
#Bitcoin #Arnhem2027
MichelleDB retweeted
Reddit call was absolutely fascinating. Everyone should listen to it as a bellwether for where the internet is going
- AI Mode is increasingly default Google experience
- AI Mode provides rich info and data in line, less incentive to leave search
- AI Mose incentivizes dialog, Google wants to keep you engaged to serve more ads at each turn
- Google will milk search for as much revenue as possible as they transition from a search company to a cloud service and chip company
- As traffic from humans becomes more scarce this will put Google in an increasingly adversarial position to the rest of the internet
- This is a massive headwind to all media type companies who are not destinations
- This is a massive headwind to all content-driven go-to-market motions especially in the SMB. You have seen companies like HubSpot and Monday.com get crushed by this funnel collapse
We are entering the end game - a knife fight for the remaining and dwindling volume of human traffic on the internet
MichelleDB retweeted
Dario Amodei was so worried about Y2K that his high school teacher still remembers it decades later.
He’s been a doomer for much longer than I thought!
Long before they were soon-to-be billionaires, Dario and Daniela Amodei were students at San Francisco’s most elite public high school. sfchronicle.com/tech/article…
It might sound crazy, but I was already expecting money to disappear regardless of AI.
- Subscriptions are replacing property.
- Various social credit scores can be computed.
- Solar energy will be too cheap to meter.
- Crypto taught us that any kind of money is fake.
this is my quarterly AI crashout
if you read my tweets you know im a shitposter and unserious, but im being serious and vulnerable right now. I am very pessimistic about the future of every career because I don't believe there will be a single thing AI isnt faster, cheaper, and better at than me. It is great that AI helps me get so much done, but it is humiliating that it has made a lot of skill acquisition itself completely pointless. I pride myself on being a fast learner, but there seems to be zero value in learning anything anymore. The future is monarchist feudalism and the destruction of the middle class and lower upper class. I don't think social mobility matters anymore because I don't think there will be money in the future. People talk about "the permanent underclass" all the time, but I think the millionaires will be on the side of the proletariat. You have all the money or no money. Money will depreciate so fast because there is nothing you would pay each other for. There will be precisely two types of transactions remaining: the transfer of capital, and petty transactions like buying food or water. Financialization will break down as the cost of skill, expertise, IP, etc goes to zero. I used to believe I have developed a set of skills that would be profitable for a long time. But there are no such thing as hard skills anymore. In the future, if you survive, if you do anything, if you have a position in society at all, it is because the powers that be are humoring your existence for whatever reason. I wish I was two years older, though I don't wish I was five years older, and I'm thankful I'm not two years younger
Why don't we have bars with dynamic prices at crypto conferences? You could even add futures with physical delivery.
Was recently at a bar where drinks were dynamically priced,
i.e. the more people bought a particular drink, the more expensive it became (price would then decayed over time towards a floor).
Fascinating to watch a few market mechanisms play out in a bar:
People ventured outside their usual orders in search of cheaper alternatives, often discovering new favorites in the process.
Others treated rising prices as signals of quality, happily paying premiums to try expensive drinks they’d never had before.
More experienced drinkers behaved like value investors, picking up underpriced drinks they already knew were good while everyone else chased the popular ones.
Price discovery, information leakage, herding, and utility trades all unfolded over rounds of drinks.
More bars should try this.
Changing course now. I have big plans for 2027!
I started assigning all planned tasks to specific days of the week, which makes my planning more realistic. I'll still do only half of what I planned, which means I only need to plan for every other week.
The Network School buys Farcaster and immediately @balajis forces users to sign a loyalty pledge submitting to censorship by AI. Otherwise they'll have to use a different app, which doesn't really exist at the moment.
Several of the few remaining Farcaster users have already been banned for previous critical posts. No room for talking back to our overlords in the techno-optimist utopia.
Of course this will revive interest in developing an alternative app for the Farcaster network, but FC's design seems to require paying for hosting without any hope of making money from it.
teapawt.org/cass_on_mars/status/20…
Tomorrow at 5pm PDT on Farcaster Spaces, I'm hosting a community call to discuss this, our ongoing plans and work on Hypersnap, and what our plans are around forming our proposal to run FC.
No idea if they'll accept our proposal, but I am one of the original core FC devs, and have been building Hypersnap with the core purpose of bringing FC to full decentralization and ability to run without a central benefactor sustaining it.
The last thing I want to see is FC end up in the hands of a private equity firm or a holding company of other failed social protocols (you know who I mean). For all those interested, we're happy to see you attend.
farcaster.xyz/~/spaces/01a01…
MichelleDB retweeted
Today @ZKZeroKnowledge we report on the research funding practices that fed current panic about "AI Doom."
We found consistent defunding of dissent, even from within the "extinction risk" field.
"AI Safety" is not a research program. It's propaganda.
🧵
zero-knowledge.com/blog/ai-s…
MichelleDB retweeted
The latest Avalanche upgrade introduced Continuous Execution (CE), a new way to improve the performance of blockchains by taking advantage of parallelism. It’s exciting technical stuff that you should know about so you understand what makes Avalanche so fast, or if you're not using Avalanche, what you're missing out on.
Avalanche has always had an architecture that takes advantage of coarse-grained parallelism. Namely, Avalanche L1s capture parallelism via separate chains, where unrelated groups of activities can execute independently of each other, without having to wait for or congest shared resources.
This was a huge step forward when we introduced it 6 years ago. Compared to older, single-chain systems, this multichain architecture enabled Avalanche to offer infinite capacity. A game doesn't have to compete with DeFi on Avalanche, whereas on single chain systems, even an NFT offering would cause problems by creating congestion and bumping transaction fees.
While this took advantage of the largest source of parallelism and enabled Avalanche to be one of the fastest chains in the first place, there are further opportunities for improvement, and Continuous Execution taps into the next greatest source of parallelism, namely, the overlap between consensus and execution within a single chain.
The two most expensive activities in any blockchain are consensus, that is, the work required to get all of the participants to agree on what happened and when, and execution, the work required to actually process those transactions and update the state of the system.
Traditionally, these two activities have taken turns.
Continuous Execution allows Avalanche to overlap them. While the system is achieving consensus on one set of transactions, it is simultaneously executing previously agreed-upon transactions.
Think of the chain as a jet. Execution is flight, transactions are the fuel, and consensus is refueling.
Before CE, the jet had to land every time it needed to refuel. The chain would execute, stop to perform consensus work, execute again, then stop again.
Continuous Execution changes that. Now the jet can refuel while it is still in the air.
Consensus and execution happen concurrently, so the chain no longer has to constantly switch between the two. The flight becomes continuous, with no unnecessary interruptions or mode switching.
To put this in perspective, before CE, Avalanche validators were spending somewhere between 20 to 60 milliseconds per block on verification, sometimes even as high as 150ms.
CE dropped that down to an average of 2 milliseconds of wall clock time with negligible variance.
And this is especially important because verification happens at each step during gossip dissemination. It isn’t simply 40 milliseconds saved once. That time was being incurred on every hop as a block spread through the network.
There is also a deeper technical point here. The work that previously had to happen in consensus goes from potentially unbounded computation to linear in the number of transactions. We achieve this by taking advantage of the monotonicity of gas prices under maximum load, so the execution thread is never forced to pause due to estimation errors.
We’ve always prided ourselves on bringing the best of science to blockchain technology, on being pragmatic, and on attacking the highest-yield opportunities first.
With Continuous Execution built on top of the multi-threaded Avalanche architecture, Avalanche has taken advantage of the two biggest sources of parallelism: coarse-grained parallelism across separate chains, and the overlap between consensus and execution within a single chain.
For Avalanche, consensus and execution no longer need to operate in bursts, constantly stopping and waiting on each other, it just keeps going with no dead time.
