Miles Davis

@realmilesdavis.eth

68 Following

17 Followers

Miles Davis pfp

@realmilesdavis.eth

Tons of great content here! https://podofjake.com/ @jake

1 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

Cool product, worth checking out @buoy

0 reply

0 recast

3 reactions

Miles Davis pfp

@realmilesdavis.eth

Anyone want to build #1?

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

Worth checking this out

0 reply

0 recast

1 reaction

Miles Davis pfp

@realmilesdavis.eth

I want to meet more engineers/entrepreneurs building on Base

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

8) Just a net new industry and value creation. If this does happen, ETH and Bitcoin will be two big elements. ETH is now deflationary and the supply of Bitcoin is so limited. I don’t think you can loose with either over 10 years, and there’s a chance these absolutely rip. “NFA!”

0 reply

0 recast

1 reaction

Miles Davis pfp

@realmilesdavis.eth

7) Finance aside, I also also predict a huge amount of applications built atop other blockchains in the coming years, creating tons of value. Metaverse like stuff, NFTs, etc. I believe this will be an entirely net new sector of growth

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

6) One prediction is in another decade, we’ll see a world full of government controlled CBDCs and a few large “store of value” blockchains like ETH and Bitcoin, where people are swapping to and from and between CBDCs.

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

5) Imagine if stimulus checks could be delivered instantly to digital wallets in seconds! Think government programmable money, where they can set the rules and enforce them. China has their digital yuan pilot already and a huge amount of countries are launching CBDCs.

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

4) A big thing I’m starting to watch more closely — The path to CBDCs - central bank digital currencies, which i believe will happen in the next decade or two. Governments digitizing control of money will absolutely happen, maybe not in the USA but elsewhere.

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

3) That said, I think there’s a lot more carnage ahead in the next few months following the whole FTX thing and a high interest rate environment the next few years. But it’s all short term.

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

2) In my mind, the innovation really accelerated in the past 3 years, with defi, NFTs, daos, and much broader global adoption. Total Unique active crypto wallets with money in them is at or near all time highs for the big blockchains. There’s such strong network effects!

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

A friend of mine asked for my take on crypto and what the future holds. Just wanted to share a couple thoughts. 🧵 1) On a macro timeline, we’re still only a decade or so since Bitcoin was founded, and really 2017/2018 is when we started to see big innovations built atop crypto.

0 reply

0 recast

0 reaction

Miles Davis pfp

@realmilesdavis.eth

I see the root cause of the FTX debacle was running thin fractional reserves. Exchanges need 1/1 reserves, nothing less. Aside, banking policy in the US allows this ratio to be at 0%. Can someone explain this for me? https://www.federalreserve.gov/monetarypolicy/reservereq.htm

0 reply

0 recast

0 reaction