crypto

teddit

helping build farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud”

> culture is stupid but the technology is great.

Stablecoins are an interesting one to double click on.

We have decentralized stablecoins like DAI that never got any significant adoption. The centralized ones are whats booming rn. The decentralized ones are much worse wrt capital efficiency.

This gives us a sign as to what the market cares about. It cares more about capital efficiency than decentralization 🤔

Am I wrong? 

We shouldn’t lie to ourselves and count stable coins as validation for crypto

Working on building zkTLS infra/products. A ruthless empiricist and meme connoisseur.

/opacity
/eulerlagrange

strong disagree

The world is mostly non-crypto assets (ie. RWAs).  Bringing them onchain so they can be turned into a programable asset is a huge win for crypto and opens up a world of experimentation. 

Amazon started selling physical books online in 1995, didn't sell digital books until 2007. Same story for Netflix

> Using a decentralized chain is just an arbitrage on compliance requirements

this is a big win already, especially if the endgame is replacing some of the $10T eurodollar system with cryptodollar using a decentralized chain for settlements

validates crypto for the boomers, not for us

eh, yes and no. USDC's substrate is Ethereum