David Nage 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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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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David Nage pfp

Being around for 7+ years I can appreciate the take. However, some questions: 1/Bitcoin: do you take into account Runes, BRC-20’s, Ordinals and new L2 activity? 2/What effect, if any, does Dencun have on your inflating gas prices? More Q’s coming .

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3/Major exchange blowing up: really only Coinbase & Binance; OKX or Kraken? When one goes down you can rotate assets to others. If a major exchange goes down wouldn’t it give further rise to DEX’s?

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1) v27 will kill ordinals/brc-20s/etc on 2024/04/02, so unless folks fork it's basically novelty hype for what already exists with nothing new coming after, and if the fork is strong enough creates even more turmoil. Less opinionated about BTC L2s, none has ever seemed to catch on for more than a cycle

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Cassie Heart pfp

2) Part of above. Blob market is broken by design. They're going to have to take 1 of 3 actions: - do nothing, let the market decide - increase blob slots per block, creating huge pressure on storage demands/bandwidth for syncing blocks - create a permissioned subnet market and pick "winning" L2s who get blob space

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