walt smith | {bip420 edition}
@waltjsmith
Followers
3,252
Following
851
Media
686
Statuses
6,153
Explore trending content on Musk Viewer
The U
• 631794 Tweets
#TGS2024
• 181335 Tweets
Miami
• 97891 Tweets
Washington
• 87428 Tweets
Knicks
• 79998 Tweets
Towns
• 71153 Tweets
Minnesota
• 68952 Tweets
León
• 64720 Tweets
Randle
• 60155 Tweets
Donte
• 38449 Tweets
Wolves
• 37973 Tweets
भगत सिंह
• 36891 Tweets
The ACC
• 29197 Tweets
#DAY6INBKK2024
• 28648 Tweets
Asharamji Bapu Case
• 26409 Tweets
Equality Exploited
• 24217 Tweets
Hart
• 22829 Tweets
日本破壊クソメガネ
• 19629 Tweets
Virginia Tech
• 18445 Tweets
Cam Ward
• 18291 Tweets
Canes
• 14294 Tweets
Rutgers
• 12511 Tweets
Celtics
• 11867 Tweets
Pinned Tweet
At the start of the year, we began to ask ourselves - how big is Bitcoin MEV, what forms are there today (and tomorrow), and how is it different then Ethereum MEV?
13
53
184
“What was it like when $JEWEL was $20?”
10
33
222
2021 has been a great year for the
#Cosmos
ecosystem. It's seen major updates, like IBC, come to fruition, & networks like Terra & Secret Network host major adoption
But the apex of the ecosystem, the Cosmos Hub, has grown slower than its parts. But that could soon change👇
8
49
164
Had some thoughts abt
@eigenlayer
& MEV this weekend.
This is largely speculation or an example but I think the direction is mostly correct.
⬇️⬇️⬇️
11
20
169
MEV drives open, expressive systems pathological. Bitcoin, in many ways, was great because it wasn't general enough to generate meaningful MEV.
The creation of Ordinals, along with new sidechains (multisigs, BitVM/opcode, drivechains) changes that.
5
19
114
Nothing says corporate socialism like getting a bunch of CEOs and bankers in a room with a president to discuss their dependence on federal debt
5
28
131
~personal news~
After 2 great years spent between reserach, principal trading, and ventures, last week was my last
@galaxyhq
. Would like to express my thanks to the many great people I got to work with & learn from.
14
1
118
@blknoiz06
@TaikiMaeda2
thx Z
here is a longer thing on the forum:
all the revenue is in the difference btw what users are willing to pay and what it actually costs to run the network/nodes. but rev for blockchains is a freaking meme - anyone who tells u this is a boomer
9
14
81
"everybody celebrating the worst day for decentralisation but the best day for their bags :)"
--
@Lomashuk
lol
1
11
86
in a full bull i can't imagine what this gonna turn into it
lore on retired british people leaving a vacuum and that being filled by 6'8'' degenerate gambler who belongs in the nfl is hilarious
excited for season 2
3
2
66
What else is going to use ETH as it’s token?
17
4
61
Excited to announce our website is live and
@cyberFund_
is open for business :)
1/
We are excited to re-introduce cyber•Fund, a private investment company run by
@Lomashuk
and
@_vshapovalov
. Since 2014, we have partnered with 150+ projects in the blockchain space. Today, we are re-launching our firm publicly with a new $100mm venture arm.
Read more 👇👇👇
27
27
251
4
2
60
I'm thrilled to share today's my first day with
@glxyresearch
. I'll be helping the team cover everything bitcoin, DeFi, & crypto related.
If you're in NYC and want to get a drink and chat crypto DMs are open.
7
5
58
these people are insane lmfao
"father figure" lmao
and because I’m a nice guy, I’ll break down the thesis:
1.
@cobie
moving on (mostly) from ct has left a power vacuum when it comes to the father figure most traders in crypto are constantly seeking to validate their trades. Ansem (
@blknoiz06
) now fills that space, at least for
25
11
129
4
1
58
the 20 solana users dumping wif bonk bingus omni usedcar popcat monk shrimple mommy lmeow and SonicObamaLockheedMartin69Inu on each other
(they're all in the same group chat)
3
6
52
what depin project has worked so far? not dunking on anyone in this deal / company in particular but ...
this entire category is nuts - zero proof points that depin can or should be a thing
and a major Q nobody has answered:
how to make the network economically sustainable?
Lightspeed Faction leads $7.7 million Series A round for DePIN weather startup WeatherXM
13
9
51
42
0
51
.
@eigenlayer
has been the hot topic on crypto twitter last few weeks and while I've given my two cents in little ways, I wanted to share why I think it is so innovative and important (also thinking abt restaking keeps me up at night, so putting this to paper so i can sleep).
3
12
48
wasn't as bullish firedancer until i heard the devs had a meetup on valentines day
1
3
49
TL;DR of discourse in crypto right now:
Bitcoin: halving + MEV in a non-finality nakamoto consensus post-ordinals world
Cosmos: toxic atom discourse + $TIA enjoyers
Solana: Defi Summer 2.0 w/
@blknoiz06
Ethereum: made up acronyms (eg ePBS, pepc) for researchoooooors that
3
1
42
Bitcoiners mixing L2s, ordinals and marketplaces with 10 minute block times
3
4
39
L2s will fracture liquidity but eventually some sort of aggregation will occur -- we will get the benefits of "regionalization" of state, but the security of global state
When execution is sharded by region but still fully interoperable we will get global, instantly settled
3
7
36
@blknoiz06
having worked directly with the people who came over last cycle from the top tradfi places to larp as CT people i can tell you this will make the mrkt so incredibly green lmao but also so rich
3
3
36
Crazy stuff. And great coverage from
@realDannyNelson
SCOOP:
@chainalysis
has been secretly operating a bitcoin block explorer site, , and scraping certain visitors' IP addresses to find leads for law enforcement clients, leaked documents show.
@realDannyNelson
reports
235
421
1K
4
9
33
2017 is looking more and more like all the other little bumps
0
10
40
A week out from ETH Denver! I'll be there representing
@cyberFund_
!
Dm if you want to meet and hit some local breweries which remains Denver's only cuisine venue broadly available
7
2
39
algo stablecoin on solana that shuts down the network whenever peg breaks below a cent
literal perfection
3
3
34
This man has been on his phone the whole game - hence the screenshot of the score.
He is a fake fan there is no other way to put it
And when jokic gets the finals mvp he will weep (~60 minutes away)
2
0
36
We’re excited to share our thesis on
@BackedFi
- a team at the cutting edge of tokenization.
We’ve had the privilege of working with Roberto, Adam, Yehonantan since their seed round and are excited to double down on their A.
2
6
36
I wrote abt
@cosmos
& Inter-chain Security v1 for the
@glxyresearch
NL this week. Proposal live now, more to follow from the Hub and ATOM Soon TM.
Little shoutout to re-staking on Ethereum with
@eigenlayer
as well. More to follow on that in the New Year.
1
10
36
Big thanks to
@Data_Always
for insights and editing work. And thx to
@Psifour
,
@robin_linus
,
@cbspears
,
@GwartyGwart
,
@Truthcoin
,
@bertcmiller
,
@ralexstokes
,
@drakefjustin
,
@_vshapovalov
,
@artofkot
, and
@0x94305
for help on specific parts.
2
1
26
We are thrilled to announce our investment in MetaLeX, a company at the frontier of testing what DAOs and blockchains can really do.
👇👇👇
1
5
34
Lot of similarities btw cross-domain MEV on
@cosmos
and MEV on
@eigenlayer
being cross-domain with Ethereum
2
3
35
To get the full scope on the Hub's current position & where its upcoming upgrades have it headed, check out
@GalaxyDigitalHQ
's report: Reconstructing the ATOM
1
9
31
@MaxResnick1
@AntonioMJuliano
@PodcastDelphi
hey
@AntonioMJuliano
, heard you on
@PodcastDelphi
and you said that "no one has fully solved [mev] yet".
Binance did solve this over 3 months ago by sending all transactions to our servers in Japan. This is why we don't see any MEV in our orderbook .
Happy to chat more about
1
3
33
See this often enough that i want to comment
whenever i see a bullish
@cosmos
tweet I think "what's the index token people use to get (easy) exposure to all these great teams / apps / projects etc"
Cosmos is actually so under the radar
Phenomenal builders, big players getting involved:
@Neutron_org
@CelestiaOrg
@dYdX
No one gonna see it coming in 1 year’s time
16
9
165
3
5
30
The cosmos thesis is really about the customization that sovereignty unlocks — dapps can be more powerful if you can tinker with consensus.
With rollups you can do the same thing without having to build out a validator set. You also get trust minimized bridging 🤯
4
5
32
Can die happy since I saw this live
5
2
30
OH: "gwart is dan robinson???"
"Lmao no"
"thats what the GC im in is theorizing"
“it’s quite well known"
lol
3
0
31
Love Polynya as much as anyone - have learned a lot from their writing - but this really misses the key points
Mrkt microstructure, specifically 10 year fund cycles + pre-IPOs onchain with no vesting, a lack of shared fundamentals + the avg participant having zero basis for
3
1
31
@MaxResnick1
strong disagree - velocity of money outside of l1 has tangible benefits - higher reserve balances, new state / apps
if the us dollar gets used internationally the international banks may not pay fees to jpmorgan etc but hugggggge benefits nontheless
2
0
31
No token has all three:
- good emissions
- good narrative
- good apps
6
4
27
This pod (and the representation of 90% of developer thought in each ecosystem being captured by each respective person) is the best argument for bitcoin i’ve seen in a while.
LIVE NOW -- Ethereum vs. Solana
That’s the debate we’re having today. On Ethereum’s side, we have
@Ethereum
Researcher
@drakefjustin
, and on the
@Solana
side, we have Solana’s Co-Founder
@aeyakovenko
They give us the good, the bad, and the ugly of each other’s blockchain,
100
83
491
2
1
30
A cosmos chain? in the year of our lord 2024?
2
0
29
A few forthcoming upgrades should improve the Hub's utility, reasserting its primacy. These include:
• IBC routing as a service
• Interchain staking
• Farming incentives on the Hub's Gravity DEX
• Seamless access to other chains via Interchain accounts/Emeris
1
4
25
L3s and apps on EigenLayer will treat ethereum as a buffet — taking the features they want (Sybil resistance, DA, messaging, etc) — while scaling to countless users and use cases on account of being abstracted away from the base layer’s restrictive parameters
0
3
29
This is just the beginning. While stablecoins were the initial killer app of crypto, they actually undermine the core value proposition of cybernetic economies.
It’s akin to importing a more stable, more liquid FX into your sovereign country — nobody does it unless they have to
Wow,
@Circle
's Caroline Hill is really begging to congress for the treasury department to go after
@Tether_to
and their banking partner, Cantor Fitzgerald
137
122
529
8
5
25
@blknoiz06
@TaikiMaeda2
tl;dr
no coin has all three:
1. good emissions (stable economics post-lockups)
2. good apps gated via L1 token
3. good narrative / sov from decentralization
________
bitcoin: 1. okay maybe 2. cooked 3. great
ethereum: 1. good 2. good 3. mid
solana: 1. mid 2. great 3. cooked
6
1
26
We are excited to see how this market matures, what solutions are stable in the harsher PoW context, & to work with teams chipping away at the frontier.
1
1
18
@KevinOConnorNBA
Incredible no call on a goal tend and out of bounds pass to a 3. And awesome flops by gave vincent for 3 straight Denver fouls
6
0
24
Counter-intuitively this is a mark of strength — we have so many standards because we don’t have a foundation king making anything in bitcoin — instead the market will pick what it likes and let people always opt out with others
And network effects will solve fragmentation ;)
Biggest problem in Bitcoin ecosystem is fragmentation of standards
BRC20
Inscriptions
Runes
God knows how many L2s
UX is going to rapidly degrade. All ecosystem participants - wallets, indexers, market makers, devs, etc. - will suffer
120
37
444
2
0
28
Still think this happens, sooner than expected too
3
3
25
it is kinda nuts the secret guy was right he was just really bad at political games (lol)
2
2
27
Glad college is over mostly because after years of shilling Bitcoin to friends they bought the absolute top and they’re now very angry with me.
3
0
26
👀👀👀
Happy to announce that EigenLabs, the team behind the initial development of the EigenLayer protocol, has raised $50 million in a Series A round led by
@blockchaincap
44
253
653
1
0
24
This is exactly as awful as you would expect
7
0
24
Sup?
1
1
22
@WorldWideWob
If Russ had avg 3pt percentage for the era he played in he would be in the top 10 player of all time discussion
1
0
23
Okay let’s say the obvious thing —bitcoin L2s become a thing. And one gets volume like Arbitrum with GMX
- how deep a reorg can we get with zero finality?
- how stale are prices for miners with block times avg 10 mins and getting up to a hour about once a week?
5
2
22
A rough heuristic I wrote about quite a bit ago is networks charging right where demand turns elastic
This induces demand, creating a virtuous cycle for the network
More in the below excerpts:
Has anyone worked out the approximate sustained TPS required for Solana to be deflationary?
3
0
3
4
8
21
@level941
i traded for some hosky on sundaeswap when it launched and i waited a whole 24hrs before i got the txn back lmao. here is why it's ass:
basically cardano uses UTXOs instead of immutable accounts with their own logic so the logic has to be stuffed in some UTXO that is spent
13
1
22
“Oh yah i like Bitcoin but what blockchains really need is kyc — have you heard of onyx by JP? It’s got the underlying tech but is works with the fed”
0
1
22
after nearing 3k following had to mass unfollow everyone on CT -- sry if the collateral damage took you, will try to find those with noise amongst the ruin
10
0
22
Earning bitcoin back on steak: it’s the most maxi thing you can do rn.
Excited to announce that we've partnered with
@OmahaSteaks
. We're eating steak tonight! 🔥
Lolli users can now earn 6% bitcoin back on steaks, seafood, appetizers, desserts, and wine.
THIS is what adoption looks like. 🚀
6
6
51
0
1
19
It’s not a bear mrkt until the influencers loose their offices
2
0
21
OH @ ConsensYs:
“The mutant apes are the more [redacted] BAYC, the
@SCHIZO_POSTERS
are the more psycho Miladys”
4
4
21
ETH CC enjoyerrrrrs after 12 ZK events and 23 MEV events in 6 days
1
1
19
Some (but not all) that are well worth a follow and thanks are:
@karimhelpme
@christine_dkim
@intangiblecoins
@0xevevm
@Lsquaredleland
@FullNodeChuck
@sal_coin
@kellyjgreer
@edubermudez94
and
@CJ_Huntzinger
(along with many others whose handle I don't remember).
3
0
18
the idea an layer 2 with 1 or (optimistically) 20 sequencers can compete as a form of 'decentralized money' is pretty nonsensical - hard to see them every break away the network effect / value is in porting a decentralized censorship resistant asset anywhere you want
4
2
18
The first cyber•Grants Program is still open for applications!
The grant covers $500k devoted to studying the broader effects of Minimum Viable Issuance on Ethereum!
Reach out to me or
@artofkot
or other committee members to help keep Ethereum Decentralized!
Decentralization and neutrality of Ethereum are essential.
We must preserve these core values while developing our cybereconomy.
To help achieve this, we announce our first cyber•Grants Program: $500k devoted to studying the broader effects of MVI on the staking economy.
2
5
19
2
10
18
Farming the farmers? That's right, DeFi is getting Meta:
@yaxis_project
has built a simpler way to harvest rewards via its MetaVault.
👇
1
4
18
Galaxy Research covered the ubiquity + necessity of EVM in our recent L1 report, linked here 👉().
Don’t agree? Here’s some data:
NEAR's FDV is $13bn. AURORA, the EVM built on NEAR, is worth $20bn, roughly 1.5x more than its base chain
2
8
17
brother is trying to become a crypto tik tok influencer …. So long friend it was a great 23 yrs
4
1
18
Biased but
@blockspacepod
is crushing its newsletter -- today's write up on owning and trading BTC beta aka mining stocks was really good.
Reccommend a sub
4
3
17
Come swing by the (re)staking house at ETH CC this week!
House parents
@chundamccain
@james_parillo
and I will be there EOW with some of the best and scrappiest hackers in the space
Drum roll...
Introducing our July 14 - 24
@EthCC
hacker house events: trustless apps, ZK, Rust, DeFi, identity, staking, restaking
Get nerdsniped by the best founders & builders in town - aka Jessy's cracked friends ☀️
Engage to get our Google Calendar with all the events!
14
49
220
3
1
17
Since L2s on celestia get their own MEV (no sequencing/settlement/execution on L1) all else equal don’t they have much better value accrual than Eth L2s? Assuming sequencer is decentralized.
Cc
@likebeckett
@Jskybowen
4
1
17