-most scaled apps will have their own L1 -companies don't want to risk ability to serve customers on price and gov of {your bags} -L2 adoption is only rational if value accrues mostly to operator instead of L1 coin -gas coins are literal commodities backed by FOSS -the bull case for gas coins is as collateral with moneyness that provides a minimum viable security budget for proof of stake validation, such that the cost of corruption exceeds the one-shot profit from corruption in an attack window -a gas coin's monetary premium is the value that users place on access to an open, permissionless and censorship resistant network compared to stablecoin based appchains (otherwise they just use the appchain and buy the stonk) -corporations are subordinate legal entities of a state, subject to the sovereign's laws, and (in a democracy) the whims of the voting public corporations hedge forex risk, but their existence depends on the limited liability granted by the sovereign in exchange for compliance -corporate earnings are denominated in fiat. normie corps do not care that much if the denominator for their stock (fiat) is worthless. -the existence of cryptocurrencies requires corporate treasuries to rethink their "forex" risk management. forex risk management has become fiat risk management. microstrategy can be viewed as a traditional corporation pursuing an aggressively contrarian fiat risk management strategy that is short fiat, long bitcoin proof of work -fiat is an irl form of proof of stake, a political credit representing faith in the sovereign's governance and domestic economy -blockchains are network states. proof of stake cryptocurrencies are digital fiat -it is hard to identify incumbent beneficiaries of these trends, because so much of the internet economy is based on intermediation and platform rents collected by oligopolies -the ability for any company to spin up their own programmable payments platform using blockchain FOSS is not priced in -tech forward companies with the most distribution and the least dependence on transaction fees and most willingness to disrupt their own business models will be the ones who are best able to adapt -the biggest losers are companies where transaction fees from payments intermediation are a large percentage of their revenues. they will need to adopt and adapt to stay competitive and profitable. those who don't will get acquired or perish -in crypto, beyond fiat risk hedges/stores of value (BTC, ETH, cryptopunks and lindy art), i think the biggest beneficiaries will be multichain and cross chain infra (oracles, RaaS, data availability, account abstraction/wallets) the ticker is {my bags} cc: @goodalexander @balajis @lex_node @ChainLinkGod

here's a comprehensive walkthrough of the MetaLeX cyberRaise app fund your startup fast, legally, 100% onchain (base, arbitrum, ethereum) this vid also teaches founders early-stage venture dealcraft, from a 15-year deal atty cyberCorps/cyberRaise/BORGs/CorpFi/MetaLeX 🖖😎

reminder that US banks charge 2% interchange fee to shuffle USD in a SQL db so like 1% of GDP is stuck in a database tax the highest fee anyone will ever pay to use a chain is to onramp the only dev who found a way to scam us for more: racer🏎️ at 5% the best to ever do it 🫡

i am once again asking why circle is not acquiring western union in an all stock deal when it trades at 14x the valuation, does half the revenue and pays 50% of that revenue to coinbase for distribution

complete cultural victory for the miladies

racer if his tweets sucked

bowl of peanut m&ms but only blue color in the vip room or i'm not showing

Vitalik deeply disrespects uncompetitive markets (clearing prices established by firms/buyers/sellers making voluntary transactions). At its core, ETH is a protest of the software market. It is designed to compete away corporate rents by commoditizing code, data and infra by open sourcing the whole stack. While I often disagree with his disrespect of market pricing and affinity for unproven social engineering schemes, I deeply respect what he's built and regret to inform fellow market enjoyors that: while you may not like it, this is what peak performance looks like. Thank you for your attention to this matter!

This week's Episode of the Deck Building Series will be Tomorrow at 2p Est to accommodate our Guest @0xMakesy

btw this would've never happened on ethereum because our founders are too busy with mechanism design and never learned how to unhook a bra