Cassie Heart on Warpcast

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_slow_crypto 🌅⏳🪁 pfp

_slow_crypto 🌅⏳🪁

Students coming through sharp on critiquing privacy with the open ledger. Lazycasting questions written on the tube after the seminar. Thoughts?

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Cassie Heart pfp

Public ledgers can not solve because even with clever wallet strategies, all it takes is one opsec misstep and nothing you do after the fact will help you. Businesses care a lot about privacy. Most cannot accept a public ledger that reveals any of their books. To solve for this, you have to make privacy the default.

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_slow_crypto 🌅⏳🪁 pfp

_slow_crypto 🌅⏳🪁

The other lecturer (I was guest) clocked the opsec risk off the bat. Businesses are a challenge, for sure! In regards to consumers wanting provable digital ownership with (optional) privacy what’s the solution? Going elsewhere to ETH and the like? How does that fare with regulatory interest?

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If you make privacy the default, provable disclosure is optional. Most regulatory interest doesn't care if the data is private if compliant. And for those that do, I should remind people (in the US) that if cryptography is a munition and code is speech then assert your constitutional rights in telling them to fuck off.

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_slow_crypto 🌅⏳🪁 pfp

_slow_crypto 🌅⏳🪁

Do you believe we’ll need a new setup for this at some point when critical mass wake up and demand it? A case of the current chains for fun stuff (monkey jpgs) & new for serious (land deeds)? Is this the aim of Quilibrium? (Fell off the radar and you don’t have link in bio. Google is also pants for finding it.)

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Cassie Heart pfp

I think ultimately it will be like both the video game industry collapse and hobby computer industry collapse: people will flee to a place of trust and safety. I’m building Quilibrium to be that destination. This is a long term game, one that has an expectation of near industry extinction in the horizon.

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_slow_crypto 🌅⏳🪁 pfp

_slow_crypto 🌅⏳🪁

You really don’t mess about. While I don’t want near industry extinction, I can see a future where you’re right. Since being prompted to think this over some more it’s a big ol’ elephant we talk too little about.

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Cassie Heart pfp

I don't want it either, but I expect it to play out in the next few months like this: - Bitcoin halving is sell the news, but worsened because miners are going to quit in droves bc reward/resource imbalance - People rekt by this will flee to other blue chips overly inflating gas prices to where L2s see spike in use 1/3

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- L2s all move to blobs in need of cheaper price, destroying blob fee market and bringing it back to same as pre-blobs or worse - "savvy" investors get thoroughly rekt in PvP antics on meme coins, regulators turn the fires on - major losses on all major coins - a major exchange bites the dust (not who you think) 2/3

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- capital flight further destroys crypto market and regulator demand heats up to the fullest as ETFs are devastated - all the critics go on their "see this was just a fad hopefully you listen this time" bullshit, unfortunately a lot more folks will agree this time - the industry feels really dead for a year or two 3/3

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𒂠_𒍣𒅀_𒊑 pfp

𒂠_𒍣𒅀_𒊑

wow, you chose violence. to the 2nd point, do you think that there's enough critical cypherpunk mass to simply not care and focus on intrinsically sustainable value? (e.g. matrix multiplication as a service) to the 3rd, what happens in the eventuality of conflict/unrest that necessitates portable SoV?

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not parzival pfp

it's not so hard to digest that the industry will feel dead for a year or two after the news. don't really understand the blob stuff tbf

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_slow_crypto 🌅⏳🪁 pfp

_slow_crypto 🌅⏳🪁

Just got to catching up and appreciate you taking the time to outline your thoughts on the back of this, not to mention inspire the other questions and contributions. 🙏

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