I have an alternative thesis to crypto, and I think what tends to throw people off when I talk about it is trying to frame it in terms of interactions with crypto today: account abstraction, opt-in privacy, bridge-and-interact – all of these things don't need to exist when rethinking from first principles.

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

Why do we need account abstraction?

Interactions are complicated, require strong key management, & different types of accounts make this a series of logistical hurdles to overcome. But when we interact with the classic web, we typically don't pop open a terminal, fire up openssl and connect with a client-side cert.

Why do we need opt-in privacy?

Interactions on most L1s involve a public ledger – the separation of users from a network has many layers of de-anonymization:
- the indexer apis your wallet relies on
- the RPC that received your transaction
- the transaction record itself which shows your address

Because when I’m negotiating an onchain salary, it’s a big disadvantage if they get to see what I’m making now.

Totally, I'm not arguing why we need privacy, I'm arguing we shouldn't make it _opt-in_.