Collection of recent crypto learnings 3: “…one can argue that currencies themselves are intrinsically platforms, and that coexisting multiple currencies should be analyzed as platform competition.”

Past updates 1 and 2

The ENS approach is even more vulnerable, where a group of multisig key holders, no matter how reputable, will control the governance and upgrade of the backbone infrastructure of the decentralized web.

I believe, in reality, a significant portion of the cryptocurrency space operates on meme culture,” Zhu said during the AMA. “We all tend to invest in bitcoin because it represents something everyone believes in, transforming it from a meme into a tangible reality

out of the three core layers of internet stack – naming (DNS), transportation (TCP/IP) and application (HTTP), naming is at the very start of the stack

Good breakdown / categorization of AI+crypto projects


(But missing generative media like images, videos)

the core definition of a blockchain is all the data used is generated within that blockchain and therefore verifiable by any participant in the blockchain. Towards that same end, smart contracts can only talk to smart contracts

Furthering the idea that the US has much to gain from the adoption and co-option of Bitcoin is the tangible stash of coins distributed within its borders; MicroStrategy’s 189,150 bitcoin, the 215,000 bitcoin seized by the Department of Justice, Block.one’s 164,000, Grayscale’s 487,000 in GBTC, and now the new US spot ETF offerings hold a combined 170,174 bitcoin as of 1/31

in a 2011 interview with Bloomberg, Fink went so far as to say “Markets don’t like uncertainty. Markets like, actually, totalitarian governments… Democracies are very messy.”

Bitcoin is punk rock. You don’t get it? Fuck you we don’t care. We’re having a party — Peter McCormack

CDixon (paraphrased): “Computer” is a collection of both nouns and verbs. A ledger is just a noun. So it undersells the power of verbs like earn, transfer, spend, save, stake, lend, etc

From an app’s perspective, blockchains offer three key features: consensus, composability, and availability 🧵
1. consensus – solve contentious race conditions
2. composability – access other liquidity and apps
3. availability – data is readily accessible
// what about governance (consensus?), tokenomics (new biz model)

The Ethereum blockchain core developers did briefly consider including an ALARM opcode to enable smart contracts to schedule operations in future blocks, but it was ultimately discarded as unworkable [https://vitalik.ca/general/2022/03/29/road.html]. The Cosmos SDK used for development of application specific blockchains [https://v1.cosmos.network/sdk] has some support to execute code – with significant limitations – at the beginning and end of each block.

Blockchains invert the hardware-software power relationship, like the internet before them. With blockchains, the software governs a network of hardware devices. The software—in all its expressive glory—is in charge.

one can argue that currencies themselves are intrinsically platforms, and that coexisting multiple currencies should be analyzed as platform competition.

That said, when a token goes straight down, you can’t call this a screaming success. There is a good reason why IPOs generally go up. And there is a good reason for why BNB, ETH, and BTC are 3 of the most successful protocols today. When you price an asset low, and let early investors participate in the financial upside of your success, it tends to have long-lasting positive effects. Your users become power users and evangelists. But when something prices high and goes straight down, you alienate those who were true believers. And it’s hard to come back from that

AI+blockchains point to a dystopia of impersonal and faceless interchangeable-parts humanity that’s more industrial than the industrial age.

Why not put $500 into a memecoin that could 50x, knowing that you could likely lose most or all of it? It’s not like the $500 is enough to make any difference anyways. Neither is $1k or $5k. That mindset, which is becoming pervasive in America, is financial nihilism. This is the zeitgeist for young Americans, you’re naïve to think otherwise. And it’s a huge driver of shitcoining

For Web 3 to succeed it needs to do two things:
Enable cool functionality unable through traditional Web 2,
and make the user largely unaware that they’re even on the blockchain

Programmable, composable data structures (ie, tokens) are the “new computing primitive” that will usher in the next phase of the internet

We need an alternative. Crypto is the perfect marriage for AI since the transparent global human coordination that underpins the movement is something that can harness AI for good at global scale. Crowdfunding (with cash or with your GPU) the creation and fine tuning of open source models which anyone can audit in real time for biases or issues is the safest path forward in the accelerating world of AI.

The idea of Bitcoin, like the idea of Index funds is a clean “world view” that markets itself. It’s not the only crypto that does so. Once you do accept Bitcoin into your brain, part of your brain opens up to other cryptos: Eth, Solana, NFTs, Ordinals … maybe some combination of Crypto and AI like Tao.

My sense is that this new idea: Bitcoin, and this new demographic: Millenials are in for an epic bull run.
The BTC ETF will be the gateway drug for this. It will get the Boomers and GenXs so that they CAN participate in the transition. Most won’t. But enough will.
It’s an idea that will take over the next 20 years.

USDT on the Ethereum network shows an average transfer size of $35,000, indicating its involvement in substantial financial activities within the DeFi ecosystem, likely influenced by Ethereum’s higher transaction fees. Conversely, USDT on the Tron network presents a distinct scenario. With Tron’s minimal transaction fees, the average transfer size for USDT is around $7,000, facilitating more frequent, lower-value transactions

He defines crypto as a meeting of “generative tech” (the creation of new things, users and markets) and “participatory capital formation” (individuals pooling money in new ways to create new types of businesses).

Truly valuable technology trends toward free and ubiquitous (another Kevin Kelly read)

This one’s also going in the personal bible archives

Original source: https://kk.org/thetechnium/technology-want/

Some excerpts:

“there has been a downward trend in real commodity prices of about 1 percent per year over the last 140 years.” For a century and half prices have been headed toward zero.

GPS was a novelty luxury only a few years ago. It was expensive. As its technical standards spread into mapping services and hand helds, it becomes essential, and the basic service (where am I?) will become a commodity and free. But as it drops toward the free, hundreds of additional advance GPS functions will be added to the fixed function so that more people will pay ever more for location services than anyone pays now. Where-am-I information will be free and ubiquitous, but new services will be expensive at first.

As crackpot as it sounds, in the distant future nearly everything we make will (at least for a short while) be given away free—refrigerators, skis, laser projectors, clothes, you name it. This will only make sense when these items are pumped full of chips and network nodes, and thus capable of delivering network value.

Automobiles, like air travel, are headed in direction where all software and digital devices are headed: toward the free. Imagine, I said, if you could give away a very basic no-frills car for free

A car will move you from A to B, but it also offers privacy, immediacy of travel, a portable office, an entertainment center, status, and design joy

Google has the same opportunities with them that all producers have. They offer free commodities and charge for premium services. Search is free; yet they charge enterprises for custom Google search. Or they shift their customer from reader to advertiser; in Google’s eyes the chief audience for search is advertising companies, whom they charge

Technology wants to be free, as in free beer, because as it become free it also increases freedom. The inherent talents, capabilities and benefits of a technology cannot be released until it is almost free. The drive toward the free unleashes the constraints on each species in the technium, allowing it to interact with as many other species of technology as is possible, engendering new hybrids and deeper ecologies of tools, and permitting human users more choices and freedoms of use

February TV and movies: Fargo Season 5, True Detective Season 4, and The Beatles: Get Back

Here’s what I watched in November, December, and January.

In February, I watched:

True Detective s4 – imo, it leaned a bit too hard into misandry (almost all male characters were evil or useless, with the sole and bright exception of Officer Prior) at the expense of more rounded characters and I lost interest about 3 episodes in, but still finished it while mostly playing with my phone. The Iceland and Alaska sets were probably 2/3 of why I stuck

Fargo s5 – finished; like True Detective it also had a strong female protagonist and evil + bumbling male antagonist, but the characters were more balanced in portrayal and the show was better written and better acted

Peter Jackson’s Beatles Documentary: Get Back – watched half of part 1; astounds my modern mind how relatively humble and unassuming the Beatles were, despite being the celebrity equivalent of boy band Jesus; perhaps it’s their British manners, perhaps it’s the pre-internet pre-social media era, but hard to imagine a current A-list celeb exhibiting anywhere near that kind of soft spoken, mild mannered, entourage-less persona (Keanu Reeves…?); also fascinating to watch genius-level creativity in action, with its focus on execution & experimentation — just keep grinding, keep trying, and keep what works, discard what doesn’t, trust your collective guts

Health and fitness learnings for February: “There’s concrete evidence that meditation calms your brain similar to valium”

They buried the lede on this new study. It’s not that exercise beats out SSRIs for depression treatment, but that *just* dancing has the largest effect of *any treatment* for depression.
Dancing Depression

Power and benefits of sprinting / HIIT: https://twitter.com/jaguarcadillac/status/1753894907784425618

The right brain is in charge of present-moment awareness, and this is the part of the brain that meditation takes to the gym. Essentially, the longer we meditate, the more we’re able to balance the right and left hemispheres of the brain. The result of this is more attention, awareness, and computing power for the task at hand.

Excessive nose picking can lead to infections and increased likelihood of developing Alzheimers (!!)
https://people.com/nose-picking-linked-to-alzheimers-disease-dementia-report-8558918

one study found that fidgeting or other non-exercise movement (which was more common among lean than obese individuals) could burn up to 350 calories a day (30-50 calories per hour)

There’s concrete evidence that meditation calms your brain similar to valium. Actual structural and measurable changes within brain itself

Herbs are often solely used as garnish but in actuality provide the perfect opportunity to deliver a boost of flavor and nutrients to any dish.
Nutrivore Scores:
Parsley 5491
Chives 3531
Basil 3381
Cilantro 2609

While aerobic exercise elevates neurotransmitters, creates new blood vessels that pipe in growth factors, and spawns new cells, complex activities put all that material to use by strengthening and expanding networks. The more complex the movements, the more complex the synaptic connections. And even though these circuits are created through movement, they can be recruited by other areas and used for thinking. This is why learning how to play the piano makes it easier for kids to learn math.

Now you know how exercise improves learning on three levels: first, it optimizes your mind-set to improve alertness, attention, and motivation; second, it prepares and encourages nerve cells to bind to one another, which is the cellular basis for logging in new information; and third, it spurs the development of new nerve cells from stem cells in the hippocampus.

Of the six areas that the FitnessGram measures, two seem to be particularly important in relation to academic performance. “Body mass index and aerobic fitness really stuck out in our regression equation,” Castelli says. “They were the most significant contributors. I was really surprised it was that clear-cut

Paleolithic man had to walk five to ten miles on an average day, just to be able to eat.

I think the most interesting part of the paper is the finding that walking improves creativity not due to environmental stimulation, but due to walking itself. Whether outdoors or on a treadmill, walking improved the generation of novel and appropriate ideas. Surprisingly, this effect extends to sitting after a walk

Previous updates:

Random facts – things I learned (Feb 23 2024) – “Paleolithic man had to walk five to ten miles on an average day, just to be able to eat.”

RANDOM FACTS

For example, patents generally have a 20-year horizon before expiry. Trademarks last for 10 years, can be renewed, and don’t have an automatic expiry. Copyright, on the other hand, has evolving regulation that ensures the holder retains the IP for 70+ years.

Paleolithic man had to walk five to ten miles on an average day, just to be able to eat.

This is the true joy in life, being used for a purpose recognized by yourself as a mighty one. Being a force of nature instead of a feverish, selfish little clod of ailments and grievances, complaining that the world will not devote itself to making you happy. I am of the opinion that my life belongs to the whole community and as long as I live, it is my privilege to do for it what I can – George Bernard Shaw

Generalized trust” or “meta-trust” is “trust that whatever issues might arise between us, we can talk about things in a way that is workable for both of us and leads to issues getting resolved to our mutual satisfaction in good time.”

The more complex the movements, the more complex the synaptic connections. And even though these circuits are created through movement, they can be recruited by other areas and used for thinking. This is why learning how to play the piano makes it easier for kids to learn math.

Loving one person is really an opportunity to learn to love all people.

They buried the lede on this new study. It’s not that exercise beats out SSRIs for depression treatment, but that *just* dancing has the largest effect of *any treatment* for depression. That’s kind of beautiful.

I had written the book for Dad. I hadn’t known, but that was how it was. I had written it for him. I put down the manuscript and got to my feet, walked to the window. Did he really mean so much to me? Oh, yes, he did. I wanted him to see me. The first time I had realized what I was writing really was something, not just me wanting to be someone, or pretending to be, was when I wrote a passage about Dad and started crying while I was writing. I had never done that before, never even been close. I wrote about Dad and the tears were streaming down my cheeks, I could barely see the keyboard or the screen, I just hammered away. Of the existence of the grief inside me that had been released at that moment, I had known nothing; I had not had an inkling

Bitcoin is punk rock. You don’t get it? Fuck you we don’t care. We’re having a party — Peter McCormack

Sixty-seven percent of the prime ministers in her sample lost a parent before the age of sixteen. That’s roughly twice the rate of parental loss during the same period for members of the British upper class—the socioeconomic segment from which most prime ministers came. The same pattern can be found among American presidents. Twelve of the first forty-four U.S. presidents—beginning with George Washington and going all the way up to Barack Obama—lost their fathers while they were young.

Seinfeld: I’m never not working on material. Every second of my existence, I’m thinking, could I do something with that?
Howard Stern: That, to me, sounds torturous.
Seinfeld: Your blessing in life is when you find the torture you’re comfortable with

Now you know how exercise improves learning on three levels: first, it optimizes your mind-set to improve alertness, attention, and motivation; second, it prepares and encourages nerve cells to bind to one another, which is the cellular basis for logging in new information; and third, it spurs the development of new nerve cells from stem cells in the hippocampus.

The direction for improvement is clear: seek detail you would not normally notice about the world. When you go for a walk, notice the unexpected detail in a flower or what the seams in the road imply about how the road was built. When you talk to someone who is smart but just seems so wrong, figure out what details seem important to them and why. In your work, notice how that meeting actually wouldn’t have accomplished much if Sarah hadn’t pointed out that one thing. As you learn, notice which details actually change how you think.

From an app’s perspective, blockchains offer three key features: consensus, composability, and availability 🧵
1. consensus – solve contentious race conditions
2. composability – access other liquidity and apps
3. availability – data is readily accessible

Supercharger / turbocharger = force more air into engine to go faster

The main reason why these lessons and bits of wisdom are so important to me now is because I had to work hard to learn them. I had to struggle, to fail and to challenge myself over and over again in order to gain a little more understanding about who I am as a person and about the world I live in. And in the end, it is the struggles, the failures, the challenges, as well as the successes, that have shaped who I am and that have led me to try and improve myself as a human being as much as possible.

The one thing that all educational researchers agree about is that teacher quality matters far more than the size of the class. A great teacher can teach your child a year and a half’s material in one year. A below-average teacher might teach your child half a year’s material in one year. That’s a year’s difference in learning, in one year

The passions are the only orators that always persuade: they are, as it were, a natural art, the rules of which are infallible; and the simplest man with passion is more persuasive than the most eloquent without it. – François de La Rochefoucauld

“Optimism. One of the most important qualities of a good leader is optimism, a pragmatic enthusiasm for what can be achieved. Even in the face of difficult choices and less than ideal outcomes, an optimistic leader does not yield to pessimism. Simply put, people are not motivated or energized by pessimists.” 
– Robert Iger

When the customers want your products so badly that you can screw everything up and still succeed. – Don Valentine

It’s important to do things fast
-Going fast makes you focus on what’s important; there’s no time for bullshit
-A week is 2% of the year

There is little difference between obstacle and opportunity. The wise are able to turn both to their advantage – Machiavelli

Machine learning is essentially the automation of “experimental refinement” in software form: we start with an imperfect guess (a model), collect feedback from reality based on how it performs, and then optimize the model’s “parameters” (tunable knobs) to improve the result.

Natural resources are also stocks, and the rates at which we extract from them, and at which they naturally replenish, are flows. This makes the idea of measuring solely the rate of increase (not growth) of consumption (not investment) all the more horrifying because it could well be the irreplaceable destruction of natural resources that is being nominally counted as contributing to economic well-being. This is clearly insane and is the height of high time preference, short-term thinking.

What we do is we get really excited about something and then we start pulling the string and see where it takes us,” Cook told me. “And yes, we’ve got things on the road maps and so forth, and yes, we have a definitive point of view. But a lot of it is also the exploration and figuring out.” He concluded, “Sometimes the dots connect. And they lead you to some place that you didn’t expect

But if you give a fuck about the living, about all your living kin in all the kingdoms, they will give a fuck right back. Maybe not every one of them; maybe not every time. Some people’s bags have been empty for a long while, and they may feel the need to ration whatever they have; some people have been taught that to give a fuck is to lose something, not realizing that to withhold is what it means to lose

In truth, the use of honesty is indeed a power strategy, intended to convince people of one’s noble, good-hearted, selfless character. It is a form of persuasion, even a subtle form of coercion.

From Emergent vs. Transactional Conversations: “When there are little to no emergent conversations in a relationship it’s in serious trouble. This is true for romantic relationships, for friendships, and business relationships… When you want to improve a relationship, make more room for emergent conversations and facilitate them in whatever way you can.”

I was waiting for something extraordinary to happen, but as the years wasted on, nothing ever did unless I caused it.

Create Rites of Passage: “Today, young men don’t know when they become a man.” – Joe Hashey

The Value of Death: When a nation allows for free trade, a shockingly high percentage of the productivity gains come from the worst firms being bankrupted by the free trade

“What are my bigger-than-self goals?” and “How is this an opportunity to serve them?” If you’re struggling to find a bigger-than-self goal, consider spending a few moments reflecting on one or more of these questions: What kind of positive impact do you want to have on the people around you? What mission in life or at work most inspires you? What do you want to contribute to the world? What change do you want to create?

When Meyer and Fu extracted DNA from Tianyuan’s leg bones, they found that only about 0.02 percent of it was from the man himself. The rest came from microbes that had colonized his bones after he died.

the Wozniak Test requires a machine to enter an average American home and figure out how to make coffee: find the coffee machine, find the coffee, add water, find a mug, and brew the coffee by pushing the proper buttons.

Blockchains invert the hardware-software power relationship, like the internet before them. With blockchains, the software governs a network of hardware devices. The software—in all its expressive glory—is in charge.

Bezos shareholder letter:
We hold as axiomatic that customers are perceptive and smart, and that brand image follows reality and not the other way around. Our customers tell us that they choose Amazon.com and tell their friends about us because of the selection, ease of use, low prices, and service that we deliver.

For men, the worst effect of social media is inaction. How is scrolling through Tik-Tok or IG helping you become a better, more effective man? A: It’s not. Additionally, posting a ton is a bad look; remember, at baseline, posting on social media is begging the world for attention. Do top guys beg for attention? No. They get it without asking because who/what they are is worthy of attention

The Muse arrives to us most readily during creation, not before. Homer and Hesiod invoke the Muses not while wondering what to compose, but as they begin to sing. If we are going to call upon inspiration to guide us through, we have to first begin the work.

As a founder/CEO, Type I is likely to lead with mission and vision. Type II is likely to lead with goals and tactics, laser-focused and ends-justify-the-means vibes. On average I think Type I’s are more likely to be good brand representatives of their product, whereas Type II’s should more often let their product be the hero.

The feeling that any task is a nuisance will soon disappear if it is done in mindfulness. Take the example of the Zen masters. No matter what task or motion they undertake, they do it slowly and evenly, without reluctance.

One of Wikipedia’s power users, Justin Knapp, had been submitting an average of 385 edits per day since signing up in 2005 as of 2012. Assuming he doesn’t sleep or eat or anything else (currently my favored prediction), that’s still one edit every four minutes. He hasn’t slowed down either; he hit his one millionth edit after seven years of editing and is nearing his two millionth now at 13 years. This man has been editing a Wikipedia article every four minutes for 13 years

He’s less prominent now, but YouTube power-user Justin Y. had a top comment on pretty much every video you clicked on for like a year. He says he spends 1-3 hours per day commenting on YouTube, finds videos by looking at the statistics section of the site to see which are spiking in popularity, and comments on a lot of videos without watching them

“AI is just in experimentation phase in enterprise right now” – Aaron Levie (comparing this to cloud, which is well into adoption, but still growing rapidly)

The one phrase repeated 365 times in the Bible: “Do not be afraid”.

A key rule of theatre is that the King is never played by the actor playing the King, but by all the other actors around him.

DID YOU KNOW, these everyday things have proper names:
The plastic end of a shoelace = aglet
The smell after rain = petrichor
The gap between eyebrows = glabella
The day after tomorrow = overmorrow
The cardboard sleeve around your takeaway coffee cup = zarf
The wire cage around a champagne cork = agraffe

So viewed through that lens, the unifying pattern of Trump, Elon, and Kanye is that at their core, they’re putting on a show. A massive, unlimited duration, infinitely varying, endlessly fascinating show — the greatest shows on earth. And that show attracts attention, yes, but also votes, feet in the street, shareholder investment, car sales, music sales, sneaker sales, etc.

Last year he launched the Vesuvius Challenge, offering $1 million in prizes to people who could develop AI software capable of reading four passages from a single scroll. “Maybe there was obvious stuff no one had tried,” he recalls thinking. “My life has validated this notion again and again.”
-Nat Friedman

HOW TO STOP GIVING A F*CK:
Remember that everything in life is temporary.
Nobody actually gives a F*ck about you like that. They have their own lives.
Keep in mind that you’re 1 out of 8 billion people.
Don’t take criticism from someone you wouldn’t take advice from.

one can argue that currencies themselves are intrinsically platforms, and that coexisting multiple currencies should be analyzed as platform competition.

Thailand, #3 on that list, was the country first to gastrodiplomacy in 2002. This campaign for Thailand meant making it easy to open Thai restaurants – providing templates, sourcing ingredients, and helping chefs get visas. And it worked! From the start of the campaign to today, Thai restaurants globally tripled, from 5k to over 15k, also yielding a substantial increase in foreign tourists throughout the period

Meow states that “the most clear indication of a real culture is a self-referentialism, where basically the participants will not stop talking about themselves.”

2. Communities spend (a lot) of time together.
3. Time together spawns a common story.
4. Common stories & shared ideals create culture

That said, when a token goes straight down, you can’t call this a screaming success. There is a good reason why IPOs generally go up. And there is a good reason for why BNB, ETH, and BTC are 3 of the most successful protocols today. When you price an asset low, and let early investors participate in the financial upside of your success, it tends to have long-lasting positive effects. Your users become power users and evangelists. But when something prices high and goes straight down, you alienate those who were true believers. And it’s hard to come back from that

Bezos formalized the principle into the company’s mission two years later when he wrote that Amazon was on a quest to build “Earth’s most customer-centric company.”

There is a Scandinavian saying which some of us might well take as a rallying cry for our lives: The north wind made the Vikings! Wherever did we get the idea that secure and pleasant living, the absence of difficulty, and the comfort of ease, ever of themselves made people either good or happy?

“Action seems to follow feeling, but really action and feeling go together; and by regulating the action, which is under the more direct control of the will, we can indirectly regulate the feeling, which is not.”
— William James

The beatings will continue until morale improves

Similarly, Egyptian and Sumerian script developed at very close to the same time, and while visually quite distinct, they share many of the same influences. One of these cultures invented writing while the other just lifted the idea, probably after seeing what a super useful invention it was.

Embrace Rejection or Don’t Try: It’s important to tune your reaction to rejection: “If you’re going to spin out after each rejection, you’re going to be exhausted a lot of the time.” – Tim
“Life punishes a vague wish and rewards a specific ask.” – Tim Ferriss

Prior editions: