Sunil Aggarwal
@Trustmachines
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Philosopher-Founder, DropD Network Community; Author of BITCOIN MAGNET book; Dean, Blockchain Programs, TalentSprint, a deep tech education co.
Bengaluru South, India
Joined December 2016
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1. I was in a crypto meet up yesterday. Out of 80 people present, there were only 2 females there.
2. In last 8 years, I have been to nearly 100+ meet-ups but in almost all of them, the gender ratio was more or less similar. Even the females, who come, are there because they
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If you are interested in money truly, you can read this post.
1. Money is a result of nexus of two forces: Economic Mutualization (EM) and Political Mutualization (PM) as theorized by Prof Anush Kapadia of IIT, Bombay in his book " A Political Theory of Money".
2. Economic
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We’re delighted to inform you all that we’ll be hosting our first ever meet-up on the 5th March, Saturday at 5pm in Delhi NCR
Topic: Crypto & Future Of Dating
Venue:
@TheCircleWork
,Huda City Centre, Gurgaon.
Link for registration:
See you guys there!
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A bit different take on film
#Gehraiyaan
by me and
@ruchiruuh
. What started as a review transformed into a beautiful dialogue on our times and changing definitions of love, marriage and relationships with a bit of mythological context.
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I am looking for experienced blockchain developers who have worked with polygon network. We have two open positions right now. Those interested can DM me right now.
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Let us try a global map of emerging politics thanks to blockchain technology.
1. Blockchains are triple entry ledger systems that are as disruptive as double entry ledgers 500 years ago.
2. We moved from monarchies to democracies then but now, we shall move from top-down
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1. All debts have to be paid sooner or later. In year 2023, US govt. raised $3.4 trillion as debt via treasury bonds, notes and bills.
2. T-Bonds raise money for 20 to 30 years, T-Notes raise money for 2 to 10 years and T-bills raise money for few week to a year.
3. On bonds
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This is coming today. I hope that you will appreciate my latest interpretation behind Bitcoin Spot ETF decision.
America's Planning Behind the Bitcoin ETF
This is one of the greatest podcasts with
@Trustmachines
to understand money and how the US has found a savior in Bitcoin.
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It is a moment of gratitude for me to announce my venture
@dropdnetwork
that is a network for cultivating intimate relationships. In a post-covid world, we are social only in a social network. Let us make the best out of it.
@ThatNaimish
@bitinning
@simplykashif
@CryptooAdy
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The market is buzzing with Fed rate cut and I am asking what has changed.
1. In a single word, nothing has changed. Fed has just accepted that they are in panic mode.
2. They have also accepted that a similar massive rate cut is going to happen before December.
3. It means that
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1. Please focus on Indian real estate for a moment and ask whether we have surplus inventory of housing or lack of housing. The answer is both yes and no.
2. Yes, we have a surplus of nearly 10 million unoccupied houses but the majority of these houses are not in the
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AI/AGI will turn all fiat currencies into debt junkyard.
1. All fiat currencies are top-down pyramids floating in two dominant layers, M0 and M3.
2. M0 is the cash and coins printed by central banks.
3. M3 is the credit/loans created by commercial banks against collateral assets.
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1/n I seek Retroactive Public Goods Funding for the Project
#IndianDataDollar
from crypto-community to build a mainstream discourse for regulating crypto in India
@hmalviya9
@sandeepnailwal
@NischalShetty
Check out my NFT listing on OpenSea! via
@opensea
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I recordeda long interviewwith
@simplykashif
. He is a great interviewer who never loses the pulse of the topic.
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I am going to make a strange prediction here:-
1. The maximum number of paid AI platform users will never go more than 300-400 million users.
2. Even if this number reaches this level, it will remain stable for a short time and then keep on declining for years. The additional
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If crypto had disrupted money only, it won't have been an issue but institutions like governments & corporations are facing extinction too. This new universe is difficult to reimagine. That is why crypto users faces the problem of relapse; money is crypto but mind is still fiat.
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How to identity debt in the system?
1. The USA has created a credit of $100 trillion in their economy in last 60+ years.
2. Corporates raise credit via bonds.
3. Government raise credit via securities/bonds.
4. People raise credit via home loans, credit cards, car loans,
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1. 2022 was a great year for me as I solved two very big problems being faced by the world of crypto. First of all, I could build a crypto-compatible and regulator-friendly monetary roadmap for Indian economy relevant for next 1000 years. The main highlight of this map is that..
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Gave a talk on "Three re-incarnations of Satoshi Nakamoto " on the Bitcoin whitepaper anniversary at coworking place 2gether at Outer Ring Road, Bellandur.
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1. Anchoring for crypto-currency prices: - Bitcoin may have any price level; it may be $50,000, $100,000 or even $1,000,000 but how to find the true price anchor. It has to be found in a social and political contract. Can this agreement be a) Let 1 BTC be equal to 1Kg gold.
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@NischalShetty
Current model of CBDC has no relation with crypto regulations. Period. Any attempt to eulogize govt on this is either misinformation or bad information.
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Doing an exclusive show with CNBC TV18 on CBDC and crypto regulation coming Saturday and sunday.
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Singapore to grant first crypto licence in bid to lure digital asset groups
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Looking for Marketing Interns at Chandigarh with appproximate incentives around 30k-40k INR. Please comment or DM if interested.
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Majority of crypto-community people in India are just investor minds. Nothing wrong about that. But it is a big problem if they cannot figure out the future of society, marriage, education, power, money and family in which crypto would prosper. That's Y, people suffer in silence.
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1. Imagine a world where 90% of the people have <10% money and top 10% have >90% of money.
2. This was the world marked by the forces of centralization.
3. Poor could neither get loans nor fair wages because the rich were controlling the access as well as distribution points.
4.
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Really enjoyed doing this long dialogue with
@simplykashif
from
@bitinning
. Theme is definitely tough & frightening but we are amidst the destruction of old order against the rise of new one. This is first half of a series "How crypto can save the world?"
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I made some serious inputs in this article if anybody is interested. "Digital future of CBDC leaves us begging for answers to key questions" via
@indiatoday
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I think that this would be my all time favorite interview ever done on crypto regulation and
#IndianDataDollar
.
@simplykashif
is just awesome in getting the best out of you. The way things came out, it was just unbelievably pleasant experience.
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Now, AI is coming and it is getting better and better. It is time to ask whether we can remain different and better as human beings. I am seeing three streams where we can do something.
1. Pathos : the way we feel about relationships with other human beings, animals, trees and
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Let me drop a few bombshells for you:-
1. Abolish CBSE (Central Board of Secondary Education)
2. Abolish State Boards of Education
3. Abolish ICSE (Indian Council of Secondary Education)
Why? Because these are centralized curriculum bodies and they are obsolete in a world of AI.
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मेरी कहानी
मेरी कहानी
मैं खुद लिखूंगा
मेरे होंठ चुप होंगे
पर बुदबुदाएगी एक कथा मेरे जबड़े के भीतर
गले के भीतर से उगलेगी एक आवाज़
और छप जाएगी कविता बन कर कागज़ के पन्नों पर
मेरी हड्डियों में गड़गड़ायेगी एक ध्वनि
और उतर आएगी एक चीख बन कर
लोग सुनेंगे और भागे भागे आएंगे मेरे
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On March 14, 2024, the Ethereum underwent Dencun upgrade that allowed higher size transactions called Blobs to be deposited on the main chain. In less than 3 months, the average transactions on Layer2 are nearly 10 times more than Ethereum itself. The actual potential of these
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Dear All, here is the second part of my series with
@simplykashif
of
@bitinning
where I state that how crypto would provide solutions to the big global economic problems. If you imagine easy onboarding experience with ERC4337 standard and zero transaction fees, the future is with
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The root term for marriage comes from "matrimony" that literally means mother-making. Yes, marriage is a civil union of two persons but look a bit deeper and ask yourself whether following is not true.
1. Marriage/matrimony is not only togetherness of two persons rather it is a
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This problem is not just for Japan only. It is there in every country of the world. Our schools have failed young and teens, our family systems have failed them, our society has failed them, our political regime has failed them, our money & wealth regime has failed them, our
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Debt is a strange kind of life style. Nobody finds it bad till it gets too bad. Do you know that the world today has over $315 trillion dollar of debt? How do you pay for this?
1. Governments have nearly 100% of debt to GDP ratio. If they have to pay interest on this, they pay
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I am going live at 5pm today with
@hmalviya9
and would discuss the current global monetary regime and its rupture leading to a new world order.
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When everybody is blind, what happens:-
1. Nobody speaks against unlimited expansion of Lender-of-last-resort consensus mechanism that runs our money world and very few take blockchain technology seriously (not in word but in action).
2. When you make a loan, you are basically
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Really enjoyed this session of role-playing with
@simplykashif
who played Jerome Powell, Fed Chairman and myself a dollar sceptic. Very interesting comments in big number too. Ultimate Fight Between Dollar and Bitcoin via
@YouTube
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I consider myself a good crypto teacher but today, I have to salute somebody who can explain next generation blockchain features in a rusty hindi language better than me. Thanks to
@hmalviya9
EIP 4844 Explained | BIGGEST ETHEREUM UPGRADE via
@YouTube
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Watch this interview coming from a great AI mind of the century! He says that decentralized intelligence via a web3 protocol is the real solution and genuine direction we all should take.
Why I'm Leaving My Company Immediately (Stability AI) w/ Emad Mostaque |...
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I loved this dialogue with
@AjazRubz
and
@CryptoSangat
community. I hope that you would like it if you want to understand money and crypto today.
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Understand crypto via relationships. Let me share a bewildering prediction around this to show where the next crypto bull wave is going to come from:-
1. For this, please understand that Central banks are old rich fathers but commercial banks are their mature but independent
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As reported by the Wall Street Journal. BITCOIN liquidity is racing towards absolute squeeze if this trend continues.
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Let us define Nation-State from a purely belief system perspective.
1. It is a network of institutions that we believe in.
2. We believe in law, we believe in justice, we believe in legal tender, we believe in fairness of taxes, we believe in welfare policies, we believe in
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The number of validators on beacon chain reaches 200k. It means more than 3000 validators for one shard chain (assuming 64 shards). Don't forget that the number is still increasing. This scale of decentralization is what makes Ethereum a great ecosystem despite a slow progress.
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How web3 social networks are being built?
1. There are basically two ways in which they are being deployed.
2. First way is that you build a social network over a pre-existing web3 identity. It means that the user is aware of how to make crypto transactions and has some crypto
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1. I am sharing this because this image presents some weird statistics that are actually true. I have seen this very closely in last two years in particularly GenZ kids (18-26 year old).
2. If you ask about their training in an intimate space, it is very very less. Even with
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A country in depression for over 30 years creates a stock market like this. Almost no growth in three decades. This is what is going to happen to the rest of the world stock markets very soon.
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I have been saying that CBDC is a misdirection & the better strategy is On-Chain Sovereign Currency (OCSC) framework. Those who don't believe me, this is for them. FedNow launched in midst of banking crisis, is it a precursor to CBDCs, ... via
@YouTube
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I have often wondered what is the true staying reason for fiat currencies. I have multiple answers to it but one answer is the most satisfying one. Here, it is:-
1. Marriage is the core reason for fiat currency stability.
2. I know that you may get spooked with my reasoning but
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Today, there is a deep sense of defeat in most of the people against machines. A doom mentality is descending upon highly intelligent people. What is human answer to AGI (Artificial General Intelligence)?
1. The answer is Natural Love Shared (NLS).
2. You might wonder what kind
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A human question in front of AI.
1. If you see the latest AI product GP4o from OpenAI, it would show you that this is something that can replace all kinds of human-to-human interactions that involve text, sound and video.
2. It may become a teacher and replace an existing one
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Be ready for a new war! It is not a military war, not a bio-weapon war, not a cyber attack. What if China decides to export its digital Yuan to Africa, Latin America and Asia with a single message "Use my currency as second legal tender and all your debts are forgiven". What if
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Recently broadcast video of the exclusive show on CNBC TV18 over CBDC.
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This is a humble interpretation and a salute to
#thenetworkstate
by
@balajis
. It is in three parts. Please enjoy the first one.
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Why fiat money is losing trust?
1. Money is supposed to be only a symbolic unit for exchanging IOUs (credit units), nothing more and nothing less.
2. But inside fiat money, we have created a bad consensus system called Lender-of-last-resort (LOLR). It assumes that all money
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1. Dating platforms have one very big problem.
2. They don't show your matchpool to you.
3. Just think if your mother is arranging a match for you, she will collect a bunch of potential 5-10 matches and give their photos to you.
4. She will filter it for you before you pick any
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These days, burden of knowledge is becoming too much to handle. Whatever I study, research or think leads me to following events:-
1. We are already in an economic recession as global economy though facts are not yet in place. Even if top 1% may not feel the heat, bottom 99% are
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Casual hook-ups are like 15-sec reels that come and go too fast. Marriage is like a boring movie in a cinema hall where you don't leave because the other person does not say so. Online dating either for a marriage or a casual hook-up today is a strange mess.
1. First of all, it
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Our first meet up in Gurgaon on "Crypto and future of dating". It was supposed to be a 2 hour session but went far beyond that. Thanks
@AmanSanduja
@saipoornaa
@opinderpreet
@NG_exhales
for attending and wonderful discussion.
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Don't forget that all civilizations collapsed when their ledgers were laden with non-performing assets and debased money. So, if you give the people right to choose a ledger, you give them right to save themselves from a sinking monetary system. Now, Let me propose a new human
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A few unpopular predictions for crypto-world I would like to make. 1. Crypto will get mainstream not because of regulation but despite regulation. Regulators don't think about innovation rather they think about status quo. They maintain a narrative that they are still in control.
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Let me try an unpopular opinion. Advance apologies to those who feel hurt but still, I would prefer to say what I wish to say:-
1. People don't marry for love. Love is just an incidental event that may happen or not.
2. People don't marry for embracing beautiful/handsome
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What should be the definition of a crypto community?
1. A community begins with an idea or a value.
2. Once it is shared by people, it starts acquiring gravity.
3. There are three signs of gravity. Users, hodlers and Stakers.
4. Users can be regular or temporary.
5. If a
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Fiat world is old man's baggage.
1. If you look at China's youth unemployment data, over 1/3rd are jobless. If you include boomerang kids and those who have stopped looking for jobs, the figures are even higher.
2. The situation is almost similar in Punjab, Haryana, UP, Bihar
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I feel that we live in a world where we keep postponing critical decisions. I highlighted critical issues behind CBDC 6.5 years back but no change in status-quo till date. Today, I speak on the concept note on CBDC by RBI
@bitinning
@simplykashif
@AjeetK
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@simplykashif
This happens primarily when regulators like Finmin and RBI don't insist on financial inclusion and sectoral lending targets. Since CIBIL score is your qualification, they would demote it if you threaten their monopoly profits by exercising your right to market competition.
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Have you ever bothered to think over 20-year home mortgage fallacy? It is built on something that is based on mass delusion.
1. Nearly 100% of all home purchases are financed via bank loans today. There are a minimum 50 million mortgages in India and over 500 million mortgages in
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If you look at the size of forex derivatives, the daily volume is between $7-8 trillion. In a world fraught with sovereign debt crises, a chunk of this trade will shift to cryptocurrency pairs. The ones who lead this wave will win in the next bull run. Attention
@opinderpreet
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1. My core monetary thesis is that we live under the Lender-of-last-resort consensus system. It does not allow any exit and maintains a monopoly over value exchange between all human beings. Money is nothing but credit/debt. It works like a prison system. You cannot get out of
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Thanks to
@AjazRubz
, I loved this discussion with him. The first part was very enjoyable where I use two stories from Mahabharata to make my case for current world financial war games. Current Economic and Financial Condition of World! Ft. Sunil Aggarwal Si...
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Why I say that Lender-of-last-resort is doomed to die?
1. Let us take the case of India. Our combined central and state debt to GDP ratio is nearly touching 90%. 2. This is critical because our Tax-to-GDP ratio has remained stagnant around 12% in last 30 years.
3. It means
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We are staring at life-long loneliness and unhappy marriages as two plateaus and an infinite death valley between that. Monogamous marriage is a gone institution if people don't redesign ecosystem around it. The surplus attached with nuclear family is now gone and rather
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Why CBDCs are going to be a big failure? I have a few but completely new answers:-
1. A functional CBDC would have to avoid inflation at all cost. For that, it will have to control the extent to how and where we can spend the new money issued by central bank.
2. Let us assume
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Dating industry has a strange sense of hope these days. Let us decode it.
1. The total revenue of dating industry in 2023-24 was around $5.4 billion.
2. Around 80-85% of this revenue went to top players like Tinder, Bumble, Hinge and a couple of others.
3. Where does 15-20% of
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Eurodollars means all the collaterals that are priced in dollars. Collaterals are of multiple types; derivatives out of derivatives out of derivatives. A collateral mismatch is what drives global banking system to crisis. It is million times more than FTX and Terra LUNA. Beware!
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Can dating be reimagined like a Ethereum ecosystem with 100s of Layer2 chains? What do I mean by this?
1. All dating platforms like Tinder, Bumble, Hinge lack a certain social context like community, skill, value etc.
2. Men and women can relate with each other far better in a
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@ThatNaimish
If you remember our discussions on CBDC, this was expected. Launching a retail CBDC is not possible without damaging either commercial banks or Central Bank itself. Without upgrading legal tender rules, a national digital currency is impossible. RBI refuses to understand this.
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1. The most important question today is how we can make Bitcoin a political success and not how we can make it a valuable asset. The first issue makes second possible but not the vice-versa. It means that we have to anchor a currency to bitcoin the way China tagged Yuan to USD.
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I am speaking at HODL '21 on 8th Sept at 10:00 am on Stage 1 on "Stablecoins and CBDC" with focus on
#IndianDataDollar
. I hope
@smtgpt
@_Neha_Singh__
@NischalShetty
@eth_us
@AjeetK
would attend this session. All my followers are also requested to join too.
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1/n. What is the unique thing about Satoshi Nakamoto? The most important things about her/him/them is that it is a template for foundational thinking. It aggregates multiple technologies and articulates them into a new and biggest ever social disruption for the millennia.
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1/2Bitcoin mining industry has consolidated outside China. It is astonishing that China controlled nearly 70% of the space and now controls virtually nil. The entire jolt to the industry by Chinese government has gone literally with just minor bruises. Power to decentralization!
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Lust is hunger untrained while love is the pinnacle of filling every hole empty and crying. We all know lust because we are untrained bastards. But it conceals what we can become. That is why lust is the true guide. It is beginning of you but not you.
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1. There are basically two forms of money in our monetary system. One is called base money or M0 which is printed by the central bank and distributed with the public. The other is what you may call top-up money that is created by banks against the assets.
2. The amount of cash
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I am looking to onboard an influencer marketing expert among my followers. If anybody has the right expertise and matches vibe, let me know via comment or DMs.
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Eurodollar is a credit facility that gives $ for making global trade possible. DeFi is the only way to replace the impending collapse of Eurodollar markets. Let me explain:-
1. You must have seen the rise of $ against all currencies in last one year. This is due to $ shortage in
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Lender-of-last-resort (LOLR) is like big fat old man. It keeps on expanding till it cannot hold its own burden. This game is the operating system of our monetary and legal stack.
Those in power will keep on diluting the purchasing power of the currencies till they face the wall
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Central banks have become like a big fat lady principal of school who has no idea of what her students feel about the syllabus, teachers and campus.
She only knows what she wants to listen; She only sees what she wants to see.
She does not want to hear that her female students
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1. If you ask a simple question what will be the most distinguished property of being a human being in next 5 years. Will it be intelligence? The answer is straight no. The first 15-20 years that we spend in schools and colleges for earning degrees/social prestige would be
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Dear Friends, I am looking for a Frontend Developer for my project
@dropdnetwork
. This is a very well incentivized assignment. Part time contributions are also invited. Please amplify this message. This interested can DM me.
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A few realizations that might provoke you:-
1. No social network would be able to offer free services very soon. They will have to be subscription-only platforms to survive the imminent rough weather coming from deep fakes. This is a problem that will become big within a time
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Dear Friends, economies don't collapse due to lack of demand as you have been conditioned to believe. My reasons are below:-
1. Consumption is a basic human trait and a family will not reduce its consumption unless forced to do so.
2. Food, shelter & energy consumption are
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@ThatNaimish
High volatility in crypto world is primarily because we don't have a collective consciousness of political alternatives, utility theory of money and man-woman relationship norm. A better society is not built only with assets but with fertile relationships.
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