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Welcome to the Cryptso Casts newsletter! Every month, I curate my best thoughts, ideas, and observations on crypto and the industry at large.
1/ I tried to send an angel check last week through my bank’s online wire transfer tool and got rejected because I’ve wired more than my weekly limit Had to call a human, answered like five security questions, then I had to recite the wire info to them twice, hold while they played me a recorded T&C message...
1/ Most merchants today pay 2-4% in fees to accept Visa or Mastercard, and you as the consumer are also taking on this fee in the form of higher prices With crypto, merchants can now accept instant $USDC payments with zero fees on @base, allowing them and you to save money on payment processing
It’s 2024, and this is the state of payments across North America It’s time to update the system, it’s time to pay with $USDC on @base https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/c98a6d4a-bd49-4145-3e35-35506c2fb700/original
Merchants are fed up with 2-4% in fees to accept credit cards Paying with $USDC on @base is borderless, free, and instant https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/9169d18b-c6bf-4c6f-5f7c-1ac42ea24900/original
Had to visit the bank today to deposit a physical check since there’s a limit on mobile deposits They accepted my check but told me that the funds won’t be cleared for use until next week I’m so used to instant cross-border settlements with crypto that it took me a few minutes to register what had just happened
The traditional banking system that you and I use today is antiquated and filled with intermediaries taking cuts A simple bank transfer still runs on SWIFT, which was created in 1973, and if you want to send remittances internationally, the average fees are 6.18% Crypto is a faster, more efficient, and cheaper system
It was great attending the @linea Waypoint event last week to have a fireside chat about all things L2s I had a fun time meeting everyone 😄 https://youtu.be/GK2d8SPRenY
Had a great time at the /cornell Blockchain Conference 2024 gathering with fellow Cornellian builders and builders from across the industry! Kudos to the Cornell Blockchain team for working so hard to make this happen :) https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/5d0440c6-c515-4c5b-0c14-23cdee37e900/original https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/aee443a0-a8d0-44be-0441-9b9c0101bf00/original
Battle of the Infrastructure Panel | /cornell Blockchain Conference 2024 Featuring: Luigi DeMeo at /avalanche Jon Wong at /solana Jack Melnick at /polygon https://youtu.be/i8MrV5552ZA?si=g9aFN0TcwVENnLe6
❌ dapps ✅ onchain apps
🧠 mint anything onchain 🌌 mint everything onchain
1/ Community tokens like $DEGEN and $BONSAI open up a wide range of ways to create and share value with an ecosystem This is powerful because it enables new types of users, applications, and experiences, to live and grow onchain https://x.com/socialgraphvc/status/1776312937805656277?s=46&t=WH1NEB3O4jfMt861gchHvA
Memecoins are the ICOs and NFTs of this cycle, but better: - They are more honest than ICOs - They are more democratic than NFTs Memecoins are the captain now
2017: ICOs 2021: NFTs 2024: Memecoins
Onchain = more empowered creators, merchants, and consumers
Hong Kong approves spot Bitcoin and Ethereum ETF application 🇭🇰 https://www.theblock.co/post/288237/hong-kong-approves-first-batch-of-spot-bitcoin-ether-etfs-in-drive-to-become-crypto-hub
$100B+ is about to flow in crypto from China via Hong Kong The bull market is just getting started...
Consumer social should be onchain Just like how you are sovereign in your physical identity, you should also be sovereign in your digital identity
Nothing needs to be onchain, just like how brands don’t need to be online But if you believe in a future where onchain ownership becomes as important as online presence, then that thing should definitely be onchain
L2 = AWS EC2 L3 = your own data center
In the future, no user will ever need to touch Ethereum L1 to enter the onchain cryptoeconomy There will be hundreds of generalized L2s with direct CEX integrations and thousands of specialized L3s that are world-class consumer experiences
Happy 4th Bitcoin halving! 🎉
A common trend I’ve noticed these days is that once users get onchain with their wallets and start minting, trading, and experiencing what’s here, it’s really hard to leave If we can get everyone onchain once and focus on making it easy and safe for them, they’ll naturally find things that are exciting to them
Crypto never left https://x.com/collision/status/1783559623511011535?s=46&t=WH1NEB3O4jfMt861gchHvA
Streaming is an under-explored design space of onchain social e.g. @unlonely, sanko.tv
Onchain ownership is so important for brands, creators, and consumers It’s the wedge for a much larger vision around co-creation, new commerce primitives, better incentive models, revenue share, and more
Zora mints work so well because they let anyone who was there at the time for /azuki x /arbitrum, /coinbasewallet adding /zora, /friendtech v2 launch week, @zachxbt’s investigation into Lazarus Group, etc. get a free commemorative NFT Then in due course value reveals itself
Mint the moment
We need to stop handwringing and seeing crypto as some niche thing that needs to go mainstream Crypto is already mainstream, and it is here to stay
Platform for onchain-native events https://littleatlas.xyz/
Facebook events for Farcaster https://events.xyz/
Build authentic relationships with your audience and earn via digital collectibles https://solarplex.xyz
Predict price moves and win rewards https://drawthechart.com/
Onchain focus app to help you spend less time on your phone https://www.focustree.app/
Social surveys for Farcaster https://www.weponder.io/
Find out your onchain reputation https://nomis.cc/
The easiest way to build on Farcaster https://neynar.com/
A social account abstraction wallet https://timelesswallet.xyz/
(creator, fans) https://earlyfans.xyz/
Long live the blobs! https://i.imgur.com/KM3NRFx.jpg https://i.imgur.com/gumfSz7.jpg
Custom opcodes, instructions, and gas tokens for the EVM Incredible work from the Reth team https://www.paradigm.xyz/2024/04/reth-alphanet
The first to become a Stage 1 rollup with fraud proofs and now almost the first to become a Stage 2 rollup with permissionless validation Completely decentralized and permissionless rollups will be a reality soon via /arbitrum https://docs.arbitrum.io/bold/bold-gentle-introduction
Proof-of-Humanness (PoH) ⚪ https://worldcoin.org/blog/announcements/introducing-world-chain
Rollups are not a point-in-time snapshot of a framework, they require continuous maintenance, hardening, and improvements @conduit successfully upgraded the first Orbit L2 to post blobs on Ethereum https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/e9fdc889-826e-472a-2ff5-636371ec3f00/original
And that’s my monthly roundup! Subscribe for free to receive new posts and follow me to stay in the loop.
David Tso
Just published a new issue of my Cryptso’s Casts newsletter, “Just Another Onchain Use Case,” via @paragraph! I cover real world onchain use cases, scenecoins like /degen and /enjoy, memecoins, consumer social, onchain ownership, and more https://paragraph.xyz/@cryptso/use-case
Do you want to create a frame from all these casts? It might be faster to publish that.
Just published a new issue of my Cryptso’s Casts newsletter, “Just Another Onchain Use Case,” via @paragraph! I cover real world onchain use cases, scenecoins like /degen and /enjoy, memecoins, consumer social, onchain ownership, and more https://paragraph.xyz/@cryptso/use-case