Occasional thoughts on crypto projects and investing.
Joined January 2024
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Had no clue, what an amazing story.
A man got fired from his job, was unemployed for 10 months, watched his savings crash 75%, and somehow built one of crypto's biggest exchanges.
> In July 2017, Siemens laid off Hayden Adams, a 24-year-old mechanical engineer.
> He had no software engineering career to fall back on.
> His friend Karl Floersch told him Ethereum was the future and convinced him to learn smart contract development.
> Hayden spent two months learning to code.
> Then Karl showed him an idea from Vitalik Buterin about how people could trade tokens without a traditional exchange matching buyers and sellers.
> Hayden started building a prototype. Called it Uniswap.
> By April 2018, he'd been unemployed for 10 months and the crypto he was living on had lost over 75% of its value.
> Most people would've started looking for another job.
> Hayden booked a flight to South Korea to attend a crypto conference.
> He didn't even have a ticket to the event and was turned away at the entrance.
> Then he ran into Karl, who introduced him to Vitalik Buterin.
> Vitalik pulled out his phone and read Hayden's smart contract right there.
> He adviced him to apply for an Ethereum Foundation grant.
> Hayden applied and got the grant which was valued at around $100,000 on paper.
> After $ETH's price dropped, its actual value was closer to $55,000–$60,000.
> He kept building.
> On November 2, 2018, Uniswap launched on Ethereum.
> Today, it's one of the most important decentralized exchanges in crypto, allowing people to trade tokens without relying on a traditional centralized exchange.
A man lost his job, watched his savings collapse, and built one of crypto's biggest financial platforms.
Imagine if he'd just updated his CV and moved on.
I am surprised nobody has copied Vultisig’s multi-device MPC approach, which splits keys across devices so no single one ever holds the full private key.
I am convinced that if a trusted world class team copied the MPC model, and wrapped it in a modern design that lets you do more things with your assets, it would have millions of users quickly.
Great interview and worth watching
Interview with @SoskaKyle to discuss the generational HYPE trade, what it's like trading with @ThinkingUSD, and how to make it this cycle.
0:00 Bull or Bear Market?
2:49 Kyle’s Journey into Crypto
8:44 “Would You Be Right or Make Money?”
15:52 Teaming up with Flood
21:01 The Famous $HYPE Trade
36:02 Bitcoin and the Quantum Problem
43:20 $ZEC vs $BTC
46:30 Selling All Their $ETH
52:53 Crypto’s Real PMF
1:00:05 Are Great Traders Born or Made?
1:11:11 Memorable Trade (A Painful One)
1:21:39 Cycle Skip Theory vs 4 Year Cycle
1:26:50 Midcurve Traps & Onchain Metas
1:31:40 Hardest Lessons & How to Make It
1:37:55 Managing Tilt & the Art of Selling
1:49:02 Regrets and Final Words of Wisdom
I am intrigued by the combination of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp as the Solana-based memetic store of value, and solana:4ZnJ72JoEVazMe7nvbek7CfSKh7eTtR3nikyAua6EkiE as the meme-on-the-meme that pays more solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp for holding it.
Not having exposure to this thesis is irresponsible
My celestia:native prediction
Each month moving forward we will see
1. DA usage growing rapidly from chains like Relay, Derive, Bullet, and other chains being onboarded.
2. Continuous performance improvements hitting mainnet.
3. New partnership announcements for both DA and the Sovereign SDK.
4. Some high profile agentic/corporate partnership in the next 6 months.
1-3 will continuously push price higher. 4 will act as rocket fuel.
And then it’s up only forever Laura. Because Agentic AI will need previously unthinkable levels of performance. And Celestia’s end destination has no competition.
Welcome back Chris
$TIA
I’m intrigued by how $ORE sits at the intersection of SoV, gambling, memes, the growing Solana ecosystem and a community of crazy people who genuinely believe. Feels like an explosive combo.
It’s a shame this space is so tribal that innovation and performance improvements are rarely recognised and celebrated across ecosystems.
Celestia is pushing blockchain performance to previously unthinkable levels.
Feels like celestia:native is one exciting partnership announcement from taking off again.
BullishBits retweeted
This new generation of high-performance protocols serving truly high-performance applications requires a complete rethink of the infrastructure level.
Celestia’s write benchmark is very impressive and shows just how much dedicated high-performance connectivity is going to matter!
DoubleZero
A prospective customer with extreme throughput requirements asked how much capacity Fibre can really deliver. So we ran an end-to-end benchmark across 120 validators.
It sustained 3.07 Tb/s of throughput, enough data for nearly 2 billion transactions per second. Every transaction Visa processed in 2025 would fit in just over two minutes.
Full breakdown: blog.celestia.org/celestia-f…
Never understood why more L1 founders were not more explicit about the best ideas to build on their stack.
There are ton of new and old devs building on NEAR in the past couple of weeks. Building itself got easier too, so it's really about what to build and how stand out to get distribution.
Few ideas I wanted to share:
- AI Tamagochi - use @near_ai to run verifiable inference from prompt encoded onchain, have each character as NFT with some $NEAR attached that pays for it's inference, add gamification with feeding, dressing. Can add all kinds of things on top with battle arena, competitions, etc.
- Universal checkout widget - let any merchant/app to add "checkout" button that allows to pay via intents from whatever wallet and chain user has. Offer it to merchants, try to get it into Shopify.
- AI encyclopedia with prediction markets - instead of community curation, every fact becomes a perpetual truth seeking market (Augur style). The final pages are generated by AI based on current market understanding.
- Private OTC market using 'private deals' from NEAR Intents. Currently there is no way to find counter party unless you already know you are transacting with. Create a more open way to communicate what are deals open and allow people to fill them via NEAR Intents.
- "Never get liquidated" - manage positions via NEAR Intents to keep lending and perp positions to maximize interest while not getting liquidated
- Event registration where funds get escrowed and let the host to check in guests. If guests have showed up - they split all contributed funds (prev project was called Kickback). Make crypto side events signups reliable again, now across any chain and any asset.
- Code review that is fully private - agent that verifiably privately runs code review on private PRs using @near_ai - Company cap table + all instruments around it to raise funds, accept crypto and support banking
- Delta neutral anything - take spot + perp controlled via NEAR contract that manages it via NEAR Intents.
- Private trading where you sell your viewing keys for people to follow/copy trade. NEAR Intents confidential trading is all private and so one can have a social trading app where people sell "keys" for only select people to see. PnL can be publicly displayed so people can choose to buy-in.
- Private medical second opinion - medical frontend that e2e encrypts and sends your data to NEAR AI to get second opinion from AI in guaranteed private way. Use it in combination with crypto and fiat payments. Allow to have custom prompts in NFTs that people can use as a way to get better expertise out of agents.
- Private Granola - desktop app that uses @near_ai to do private transcriptions but keeps all your records with you (and encrypted with your key backups). Use $NEAR staking as an alterantive to pay subscriptions.
- AI benchmarking with private test sets. Submit harness (or new model in hosted privately in @near_ai) and evaluate on private tests sets and see results that are certified for given model and given hash of test set, without revealing any data.
Distribution:
- Engage @NEARLegion
- Make sure your app supports every wallet via @aurora Intent Connect, so user from any chain can engage with it without bridging/figuring out NEAR
- Engage other communities by cross pollinating
- Don't forget about Product Hunt & similar product distribution
- And ofc X
BullishBits retweeted
Bought a stupid amount of ethereum:0x6985884c4392d348587b19cb9eaaf157f13271cd following @AviFelman interview of @PrimordialAA.
Will lay out my thesis with bullet points since no one reads paragraphs anymore:
• Tokenize everything mega trend
• LayerZero is winning a winner take all race (you don't want multiple standards) the same way Amazon won ecommerce through their API models
• Brian is incredibly smart and eloquent. Only founders giving me this kind of feeling were Hyperliquid Jeff and TN Pendle
• Citadel, DTCC, ICE, Sequoai, a16z and every major tradi institution are either buying or holding ZRO
• They'll need it to deploy front-ends on Atlas and get fees rebate (up to 1% of ZRO total total is needed for max discount)
• Lots of revenue streams and buybacks to come: ATLAS trading fees, payment fees, priority fees, MEV, LZ messaging protocol fees (post switch)
• Staking = reduced circulating supply
• Unlocking tokens aren't sold. Sign holders are bullish.
• ZRO isn't liquid onchain for now. It will be once Zero mainnet goes live
• Crypto natives are sidelined, massively. Avi podcast brought the light of all the developments LZ team has been working on for years
• People will either compare ZRO to HYPE or LINK. Will inevitably lead to rerating up in both cases (Hyperliquid wants to replace the existing financial stack with an open alternative while TLAS wants existing financial businesses to adopt a new onchain stack)
It's now my biggest alt position. Coffee can potential.
Wouldn't be surprised if it goes to 10$ IF Brian executes on his vision and go to market strategy is successful with tradfi giants.
BullishBits retweeted
The US adds around $15 billion of new debt every single day.
The Bitcoin network adds around 450 new coins a day. At $84,000, that's roughly $38 million of new supply.
New dollars of debt are being created about 400 times faster than new Bitcoin.
The gap only widens from here.
The US now spends over $1 trillion a year just on interest and the CBO expects that to double within a decade.
There are only two ways to pay for it:
1) Taxes nobody will vote for
2) Or printing the difference.
Bitcoin's supply schedule goes the other way. Supply grows around 0.8% a year today. After the April 2028 halving it drops to roughly 0.4%. By 2032, around 0.2%.
Central banks target 2% inflation forever and usually miss quite heavily to the upside.
Every four years Bitcoin gets scarcer while fiat gets more plentiful.
This is what it boils down to. Everything else is noise.
bitcoin:native
If agentic commerce is the future, it’s likely going to be powered by Celestia + Sovereign SDK.
No other blockchain infrastructure is designed to support these types of performance requirements.
celestia:native
A prospective customer with extreme throughput requirements asked how much capacity Fibre can really deliver. So we ran an end-to-end benchmark across 120 validators.
It sustained 3.07 Tb/s of throughput, enough data for nearly 2 billion transactions per second. Every transaction Visa processed in 2025 would fit in just over two minutes.
Full breakdown: blog.celestia.org/celestia-f…