First they ignore you, then they laugh at you, then they fight you, then you win. As of January 2025, crypto is accelerating through the final line.

First they ignore you, then they laugh at you, then they fight you, then you win. As of January 2025, crypto is accelerating through the final line.

Airdrops of fungible tokens are an aperiodic Proof of Work (or, considering exit liquidity, a proof of latent capital) where discretion replaces defi...

Airdrops of fungible tokens are an aperiodic Proof of Work (or, considering exit liquidity, a proof of latent capital) where discretion replaces defi...

Earlier this year, I wrote Copper and Tin, a reflection of the vibe shift from 2024. The conditions have never been better for bleeding edge software like the World Computer and AI, but societal conditions continue to fray. In crypto, 2025 has so far been a continuation of infrastructural victories, starting with the Pectra upgrade, including the lifting of sanctions on the Tornado Cash, and extending to the imminent Fusaka upgrade. There was also a global realization of a common bottleneck t...

Earlier this year, I wrote Copper and Tin, a reflection of the vibe shift from 2024. The conditions have never been better for bleeding edge software like the World Computer and AI, but societal conditions continue to fray. In crypto, 2025 has so far been a continuation of infrastructural victories, starting with the Pectra upgrade, including the lifting of sanctions on the Tornado Cash, and extending to the imminent Fusaka upgrade. There was also a global realization of a common bottleneck t...