The super alt that unifies every other alt is $NEAR, so therefore @NEARProtocol is one of the major alts that's going to save crypto ✅️.
Crypto is still the opportunity of a lifetime if you can understand the currents!
As only decentralized, scalable, & private chains make this dream a reality
Crypto will replace all of finance & even money itself!
All we have to do is pick the winners for the grand prize: 🧵
That is what makes the future so aligned with the cypherpunk dream: The incentives lead to freedom. That is always what made crypto such a great & worthy endeavor for us to spend our time on
Crypto has made it; it is not going away. Despite the industry being barely recognizable anymore from the old days, when it was just a bunch of fringe revolutionaries trying to change the world
Do I miss those days? Sure, I do. However, we always knew that if crypto were to truly succeed, it would not be able to remain a niche; it had to go mainstream
Today, crypto is corporate & highly institutional, whether we like it or not, that is what crypto's success looks like
As long as we can enshrine the core primitives that made this entire movement worthwhile in the first place, then we have still won:
Decentralization
This can be a contentious issue, as people often treat decentralization as a binary, when in reality it is a complex spectrum with multiple factors that nobody even weights the same
That makes arguments around decentralization often devolve into religiosity, when in reality it can be approached scientifically & objectively:
By measuring various factors, such as stake distribution, Nakamoto Coefficient, validator count, governance design, client distribution, politics, consensus architecture & more
Scalability
Crypto is pointless without decentralization & useless without scalability. We need both attributes to make a real difference
Programmability is also essential, as what is good decentralized money without good decentralized finance to support it?
We see that in BTC, the only way yield can be earned on BTC is to leave the security of BTC's network, most often forcing users into a centralized custodian or much less secure setups
That is how programmability in the form of a Turing-complete Virtual Machine becomes a critical component for any blockchain's success
When we have decentralized scalability & programmability, privacy is also unlocked:
Privacy
Privacy does not need to be built on the L1 directly. Smart contracts deployed on top can do the same thing, think of protocols like Tornado Cash, Railgun, Privacy Cash & Arcium as prominent examples of that today
Making privacy optional is ideal. Not only because we want transparency from larger institutions, but also because the scalability requirements for default privacy are too high to support global finance
That is why having spot & perp markets remain transparent is also preferable to going entirely dark. As individual users can still anonymize & break links in & out of such markets. While most of commerce involving normal people can remain fully private
Helping to strike a healthy middle ground in terms of the engineering trade-offs, while the fee market takes care of prioritization organically & fairly
Crossing The Rubicon
There is now no doubt that crypto will continue to play a more prominent role in the world. Even banks & governments are on board, the very types of institutions crypto was meant to fight
That is still the case; however, these organizations correctly recognize that the best way to remain relevant is to go along rather than continue fighting this latest wave of technological innovation. While also legitimately seeing the benefits for everyone involved!
Compromise
There lies crypto's next greatest challenge: Not to let the watering down of crypto be taken too far
There is a healthy middle ground between compromising too much & too little
Strategically, remaining a staunch niche with a few thousand cypherpunks running nodes on Raspberry Pi's for an unscalable chain out of their basements is not a formula for success
However, neither is accepting chains like Ripple, Tempo & Canton, which are straight-up permissioned!
Conclusion
Navigating these currents successfully is a real challenge, as it depends on having the correct thesis about the future of crypto & the world
Something we have consistently done over at @cybercapital since I founded the company in 2016. Having started my own crypto journey in 2013
The market might seem depressed now, but the fundamentals have never been stronger
As a value investor & a cypherpunk. High revenue & high usage on scalable, decentralized & permissionless blockchain is what gets me the most excited today
That is what success looks like, not self-congratulatory speeches or ad nauseam virtue-signaling about why XYZ community is morally superior to another...
Crypto has come this far by doing, changing the world through the utility it offers people. That is still where crypto's edge lies. That is why SOL & HYPE are paradoxically more cypherpunk than BTC & ETH today!
When advancing the cypherpunk dream depends on adoption, offering a better product becomes the only way to make that dream a reality! 🔥
Crypto will replace all of finance & even money itself!
Liberating the world with financial sovereignty & privacy
Making crypto the opportunity of a lifetime if you can understand the currents;
As only decentralized, scalable, & private chains can make this dream a reality! 🧵
That is what makes the future so aligned with the cypherpunk dream: The incentives lead to freedom. That is always what made crypto such a great & worthy endeavor for us to spend our time on
Crypto has made it; it is not going away. Despite the industry being barely recognizable anymore from the old days, when it was just a bunch of fringe revolutionaries trying to change the world
Do I miss those days? Sure, I do. However, we always knew that if crypto were to truly succeed, it would not be able to remain a niche; it had to go mainstream
Today, crypto is corporate & highly institutional, whether we like it or not, that is what crypto's success looks like
As long as we can enshrine the core primitives that made this entire movement worthwhile in the first place, then we have still won:
Decentralization
This can be a contentious issue, as people often treat decentralization as a binary, when in reality it is a complex spectrum with multiple factors that nobody even weights the same
That makes arguments around decentralization often devolve into religiosity, when in reality it can be approached scientifically & objectively:
By measuring various factors, such as stake distribution, Nakamoto Coefficient, validator count, governance design, client distribution, politics, consensus architecture & more
Scalability
Crypto is pointless without decentralization & useless without scalability. We need both attributes to make a real difference
Programmability is also essential, as what is good decentralized money without good decentralized finance to support it?
We see that in BTC, the only way yield can be earned on BTC is to leave the security of BTC's network, most often forcing users into a centralized custodian or much less secure setups
That is how programmability in the form of a Turing-complete Virtual Machine becomes a critical component for any blockchain's success
When we have decentralized scalability & programmability, privacy is also unlocked:
Privacy
Privacy does not need to be built on the L1 directly. Smart contracts deployed on top can do the same thing, think of protocols like Tornado Cash, Railgun, Privacy Cash & Arcium as prominent examples of that today
Making privacy optional is ideal. Not only because we want transparency from larger institutions, but also because the scalability requirements for default privacy are too high to support global finance
That is why having spot & perp markets remain transparent is also preferable to going entirely dark. As individual users can still anonymize & break links in & out of such markets. While most of commerce involving normal people can remain fully private
Helping to strike a healthy middle ground in terms of the engineering trade-offs, while the fee market takes care of prioritization organically & fairly
Crossing The Rubicon
There is now no doubt that crypto will continue to play a more prominent role in the world. Even banks & governments are on board, the very types of institutions crypto was meant to fight
That is still the case; however, these organizations correctly recognize that the best way to remain relevant is to go along rather than continue fighting this latest wave of technological innovation. While also legitimately seeing the benefits for everyone involved!
Compromise
There lies crypto's next greatest challenge: Not to let the watering down of crypto be taken too far
There is a healthy middle ground between compromising too much & too little
Strategically, remaining a staunch niche with a few thousand cypherpunks running nodes on Raspberry Pi's for an unscalable chain out of their basements is not a formula for success
However, neither is accepting chains like Ripple, Tempo & Canton, which are straight-up permissioned!
Conclusion
Navigating these currents successfully is a real challenge, as it depends on having the correct thesis about the future of crypto & the world
Something we have consistently done over at @cybercapital since I founded the company in 2016. Having started my own crypto journey in 2013
The market might seem depressed now, but the fundamentals have never been stronger
As a value investor & a cypherpunk. High revenue & high usage on scalable, decentralized & permissionless blockchain is what gets me the most excited today
That is what success looks like, not self-congratulatory speeches or ad nauseam virtue-signaling about why XYZ community is morally superior to another...
Crypto has come this far by doing, changing the world through the utility it offers people. That is still where crypto's edge lies. That is why SOL & HYPE are paradoxically more cypherpunk than BTC & ETH today!
When advancing the cypherpunk dream depends on adoption, offering a better product becomes the only way to make that dream a reality! 🔥
Crypto will replace all of finance & even money itself!
Liberating the world with financial sovereignty & privacy
That makes crypto the opportunity of a lifetime if you can understand the currents
As only decentralized, scalable & private chains make this dream a reality! 🧵
That is what makes the future so aligned with the cypherpunk dream: The incentives lead to freedom. That is always what made crypto such a great & worthy endeavor for us to spend our time on
Crypto has made it; it is not going away. Despite the industry being barely recognizable anymore from the old days, when it was just a bunch of fringe revolutionaries trying to change the world
Do I miss those days? Sure, I do. However, we always knew that if crypto were to truly succeed, it would not be able to remain a niche; it had to go mainstream
Today, crypto is corporate & highly institutional, whether we like it or not, that is what crypto's success looks like
As long as we can enshrine the core primitives that made this entire movement worthwhile in the first place, then we have still won:
Decentralization
This can be a contentious issue, as people often treat decentralization as a binary, when in reality it is a complex spectrum with multiple factors that nobody even weights the same
That makes arguments around decentralization often devolve into religiosity, when in reality it can be approached scientifically & objectively:
By measuring various factors, such as stake distribution, Nakamoto Coefficient, validator count, governance design, client distribution, politics, consensus architecture & more
Scalability
Crypto is pointless without decentralization & useless without scalability. We need both attributes to make a real difference
Programmability is also essential, as what is good decentralized money without good decentralized finance to support it?
We see that in BTC, the only way yield can be earned on BTC is to leave the security of BTC's network, most often forcing users into a centralized custodian or much less secure setups
That is how progammability in the form of a Turing complete Virtual Machine becomes a critical component for any blockchains succsess
When we have decentralized scalability & programmability, privacy is also unlocked:
Privacy
Privacy does not need to be built on the L1 directly. Smart contracts deployed on top can do the same thing, think of protocols like Tornado Cash, Railgun, Privacy Cash & Arcium as prominent examples of that today
Making privacy optional is ideal. Not only because we want transparency from larger institutions, but also because the scalability requirements for default privacy are too high to support global finance
That is why having spot & perp markets remain transparent is also preferable to going entirely dark. As individual users can still anonymize & break links in & out of such markets. While most of commerce involving normal people can remain fully private
Helping to strike a healthy middle ground in terms of the engineering trade-offs, while the fee market takes care of prioritization organically & fairly
Crossing The Rubicon
There is now no doubt that crypto will continue to play a more prominent role in the world. Even banks & governments are on board, the very types of institutions crypto was meant to fight
That is still the case; however, these organizations correctly recognize that the best way to remain relevant is to go along rather than continue trying to fight this latest wave of technological innovation. While also legitimately seeing the benefits for everyone involved
Compromise
There lies crypto's next greatest challenge: Not to let the watering down of crypto be taken too far
There is a healthy middle ground, between compromising too much & too little
Strategically, remaining a staunch niche with a few thousand cypherpunks running nodes on Raspberry Pi for an unscalable chain out of their basements is not a formula for success
However, neither is accepting chains like Ripple, Tempo & Canton, which are straight up permissioned!
Conclusion
Navigating these currents successfully is a real challenge, as it depends on having the correct thesis about the future of crypto & the world
Something we have consistently done over at @cybercapital since I founded it in 2016. Having started my own journey in crypto in 2013
The market might seem depressed now, but the fundamentals have never been stronger
As a value investor & a cypherpunk. High revenue & high usage on scalable, decentralized & permissionless blockchain is what gets me the most excited today
That is what success looks like, not self-congratulatory speeches or ad nauseam virtue-signaling about why XYZ community is morally superior to another...
Crypto has come this far by doing, changing the world through the utility it offers people. That is still where crypto's edge lies. That is why SOL & HYPE are paradoxically more cypherpunk than BTC & ETH today!
When advancing the cypherpunk dream depends on adoption, offering a better product becomes the only way to make that dream a reality! 🔥
The Dutch 36% tax on unrealized gains is anti-prosperity, freedom & capitalism
It makes investment impossible for normal people...
Destroying the middle class & crushing the start-up ecosystem
It has not been passed, yet; we can still save this once-great mercantile nation! 🧵
Writing this from Amsterdam, only a brief walk away from the first stock market in the world. The Netherlands was once the richest country on the planet, dominating global trade in the 17th century. All thanks to free trade & financial innovation
A legacy that the Netherlands has moved steadily away from. It is no longer a leader in finance & sits on the laurels of its historically great past, much like most of Europe does. With extremely high taxes & socialist policies
This latest 36% tax on unrealized gains breaks the camel's back, making all investment quantitatively & mathematically unviable, especially given the volatility of modern markets. Forcing normal people to store their wealth in Fiat currency, something that is designed to lose its value over time due to inflation
That is why this law, in particular, strikes at the heart of how crypto is meant to provide an alternative to that terrible central banking system. That would no longer be possible under this new tax law, impoverishing the middle class, forcing them to remain slaves to the debt-based fiat system
Start-up founders would also have to pay 36% over each share of their company they sell, making being a founder in the Netherlands far more expensive & therefore unattractive
Adding insult to injury, this new tax does not apply to investment professionals like myself who own & manage investment companies. So this law locks normal people out of the investment world while still allowing the "elites" to do business...
Capitalism is great because it gives equal opportunity to all, allowing the best to rise to the top. That is what makes it meritocratic & generates massive prosperity for all. Instead, this proposed tax introduces massive resistance against upward mobility. It would prevent more people from rising out of poverty, keeping them poor!
A 36% tax on unrealized gains in the Netherlands spits in the face of its once-great, historically capitalist legacy. People are waking up & do not want to see what they have built here ruined by incompetent, socialist, & tone deaf politicians
We can turn this around, so help us spread this message far & wide. For the sake of prosperity, freedom & capitalism. We the people demand our full rights to life, liberty, & the pursuit of happiness! 🗽
I agree with @Justin_Bons here
SUI indeed has great tech and terrible tokenomics
I have talked about that in the past and have both used and supported the Sui Network for a brief period, but I believe SUI's problem goes beyond tokenomics at this point
I'm talking about the
🚨 @SuiNetwork is Centralised
> 52% of 10B supply "unallocated" till 2030.
> Founders control that supply.
> They stake it. They earn the rewards.
> 84% of all staked $SUI belongs to them.
> They claim it's parked with centralized custodians (BitGo, Anchorage...)
> Refused to
More brilliant work @Justin_Bons and extremely disappointed in transparency from @SuiNetwork @EmanAbio stating they are decentralized when they are not
I love SUI the protocol which had been making a real contribution to the future of Crypto
Sad
@RaoulGMI - what’s your take? Can you use your influence to get the project to make the right decision here and burn the unallocated supply?
