Utilization will crown the crypto kings. That's why I support crypto with the highest chance for mass utilization. You won't achieve mass with high fees, slow transactions, custodial layers and catering to the 1%. Remind yourself to revisit this tweet in 10 years and you'll see.

The most important chart in all of finance.

State of Tech Crypto: "2.5% transaction fees are outrageous. Let's launch 10 competitors this year to drive this to zero" Web2: "We think a 47.5% transaction fee on digital objects is pretty competitive to be honest" Government: "How can we protect consumers from crypto?"

It seems rare these days, but remember it is possible to agree with someone in one area, disagree with them in another area, and go on with your life while respecting the other person.

Is there a bigger TAM in crypto than decentralised stablecoins?

What does gold know? With real rates rising as quickly as they are, the tried-and-true TIPS model suggests that gold should have fallen to 1600 or so. Instead, it is holding in like a champ at around $1950. Why? 🧵

A very timely and comprehensive write-up on stablecoins 👏 Highly recommended if you want to learn about the space 📒

Today, Delphi Digital submitted to the SEC our strong objections to the SEC's recent proposed amendments to Reg ATS, which, in part, seek to re-define all "communications protocols" as potential securities exchanges.

Alex Gladstein 🌋 ⚡ At a macro level the velocity of stablecoins (25-95) is significantly higher than that of BTC+ETH (4-6). This supports the hypothesis that stablecoins are preferred as a medium of exchange. Source: f.hubspotusercontent00.net/hubfs/5264302/…

That we now have a decentralized stablecoin competing in the league of USDC and USDT is one of the greatest achievements in cryptoland in the past couple years. Centralized stables are an Achilles Heel of our industry. Let's move past them with haste.

1/ I've followed the IMF for 15 years now, and this is the most impressed I've been by any of their live press events. Some rare truths were shared, on a panel in front of ECB President Christine Lagarde and Fed Chair Jerome Powell.🧵 (video clips below)

All this vapid condemnation of Terra 🌍 Powered by LUNA 🌕 is unbecoming. A decentralized stablecoin is one of crypto's most important instruments. I'm glad people are experimenting relentlessly, and enduring the crises that challenge and harden all great projects.

Appropriate time to post this: #bitcoin

The generational buying opportunity for #Bitcoin is now. Don't be Satoshi-wise but Bitcoin-foolish trying to time bottoms.

crypto haters absolutely euphoric right now, dunking - economy is headed for recession/depression - mortgages unserviceable - global energy/food crisis - 60/40 portfolio ruined - sovereign debt crisis - inflation rampant - consumer confidence ATL and they're celebrating

Marc Andrew I think of it more like the Lindy effect. The longer Bitcoin's monetary policy isn't changed in code, the more trust it builds in being immutable. With PoW, this is the biggest and most under-appreciated differentiator that Bitcoin offers over other crypto assets.

Monetary tightening in response to adverse supply (particularly oil) shocks—a requirement of strict inflation targeting—has been a frequent cause of recessions. Solution? You guessed it: NGDP targeting.

Exciting project and alternative to USDT for the offshore dollar market, offering a "risk-free" interest rate back to holders. Like US-based stablecoins issued by Paxos, USDM reserves are high quality, transparent and bankruptcy remote. Great to see competition in this space 💸

Masterclass in realist international relations by a controversial expert.