Capitalism is a powerful force for good. It benefits everyone, especially those who lean in and help build the future. But it’s under attack (again). Wealth taxes, price controls, government-run grocery stores, asset seizures. Fear is being used as a political lever and an excuse for control. I’ve seen this play out before, it leads nowhere good. I lived in Buenos Aires in 2008 when the Argentine government seized $30B in private pensions to ‘protect’ citizens from the financial crisis. Then they froze access to the dollar and nationalized companies. Within a decade, inflation was over 50%. The elites had miraculously moved their money, leaving regular people to take the financial hit. Politicians are selling collectivism out of the same playbook used by Argentina, Venezuela, and the former Soviet Union: promise protection, concentrate power, tighten the fist. And the costs fall on the poorest people in society who are unable to protect themselves. Capitalism isn't perfect. But it’s far better than every alternative that’s been tried. Millions of people making independent decisions, with the free market rewarding the best ideas, will out-build any central planner.

(1/2): I have met this person at nearly every crypto conference I have ever attended, and by now I can usually identify him before he even reaches the registration desk, because he arrives wearing the unmistakable expression of a man who has crossed three time zones, answered forty-seven Telegram messages from people he does not like, and paid twelve euros for airport water in order to be physically present at a gathering devoted to the future, only to discover, almost immediately, that the future appears to consist largely of men standing beneath purple lighting and discussing distribution. He checks into the hotel, opens the conference app, scrolls through a schedule containing panels called things like “Reimagining Coordination at Scale” and “The New Institutional Frontier,” and feels, for one brief and embarrassing moment, the stirring of hope, because perhaps this will be the one, perhaps this will be the conference where somebody says something real, where a conversation escapes the gravitational pull of fundraising announcements, ecosystem grants, and whatever the phrase “go-to-market motion” is currently being asked to conceal. By ten in the morning he has received a tote bag made from allegedly regenerative fabric, a metal water bottle that leaks from the lid, a lanyard large enough to function as a municipal permit, and three invitations to side events taking place simultaneously in different parts of the city, each one described as “intimate,” despite having eight hundred RSVPs and a DJ flown in from Berlin. He goes to the first panel. A founder says we are still early and venture capitalist says the next billion users are coming. Eventually a moderator, with the glazed composure of somebody who has already moderated this exact conversation in Singapore, Dubai, Paris, Denver, and a yacht off Mykonos, asks what needs to happen for mass adoption. Everyone agrees that UX must improve and the audience nods with the solemnity of a parliamentary vote. Nothing has technically been said, but the applause is loud. By lunch he has participated in six conversations, all of which begin with “What are you working on?” and end with “We should definitely find a way to collaborate,” which in conference language means that both parties will add one another on Telegram, exchange a fire emoji beneath a future announcement post, and never again occupy the same emotional universe. He meets a man building infrastructure for autonomous agents, although the infrastructure is not yet built and the agents are not yet autonomous. He meets another man launching a protocol for decentralized reputation, who spends most of the conversation explaining which well-known investors already trust him. He meets a founder who says he is obsessed with user sovereignty, then glances every twenty seconds toward the entrance in case someone more important has arrived. By the evening he is standing in a cavernous venue once used to manufacture turbines, now filled with dry ice, ornamental lasers, and several thousand people discussing credible neutrality while trying to get past a velvet rope. There is free food, technically, although it consists of two miniature tacos placed on a slate tile by a person wearing black gloves, and there is free alcohol, abundantly, which may explain why the revolution against extractive intermediaries has temporarily organized itself around a sponsored bar requiring three wristbands and a QR code.

"crypto" has largely forgotten its purpose, which is to empower individuals at the expense of intermediaries...that's because the intermediaries are the last remaining exit liquidity, so we can't disrupt them or they will not buy our bags. . . . massive catch-22 as an industry. the highest-$-value use case--tokenized stocks, etc.--hangs in the balance, and so far the "industry" is massively supporting cosplay intermediary tokenization instead of trying to disrupt and destroy the incumbents using this technology

happy 4th of july and happy 250th everyone. take a moment to notice that the social and material conditions that make it possible for us to read each other's posts like this - social media, the internet, free speech, the computer, the smartphone - are overwhelmingly american

🇺🇸America is the most successful political experiment in history. She aimed to bring liberty, equality, and prosperity for all. And she has succeeded beyond any reasonable person’s wildest imaginations. America and her allies defeated the tyrannies of monarchy, fascism, and socialism/communism. Instead of bringing brutal oppression and deaths on a global scale which any other nation would have done in her place, America created for the first time in history a maritime global order where nations and peoples are free to trade with each other and prosper together. Not only that, America was and is the greatest producer of scientific and technological advancement. Oil, electricity, nuclear power, computers, the internet, and now AI. A truly ludicrous amount of prosperity came as a direct result. America is also the only nation in existence that truly accepts immigrants as her own. If you move to Japan, you will never be Japanese. If you move to the Netherlands, you will never be Dutch. But if you move to America, you can become American. America is objectively the single biggest force for good in history. She is loved by most and envied by the rest. She is living proof of what wonders humanity is capable of when given the freedom to pursue happiness. 🇺🇸🎆🍾Happy 250th birthday America!

🚨Solidity devs: single command in your AI prompt now gets you to ~80% stateful fuzz-testing coverage. Introducing Fizz, fully open source. From repo to invariants, tests, runs and coverage report. Help more people - like & retweet. Stay safe🫡

.@BernieSanders , it is a time to celebrate. @elonmusk has created enormous value for society by building @SpaceX, driving down the cost of rocket launches and creating a global satellite communication network that has brought high speed, low-cost internet and communication access to hundreds of millions and eventually billions of people along with critical advantages for our military and our nation’s defense. SpaceX and its technologies will cause an acceleration in the growth of wages and wealth creation globally, including in some of the poorest communities in the U.S. and around the world. Access to low-cost, high speed communications everywhere will allow children around the world to be educated, families to build businesses, and life-saving medical knowledge and care to be available everywhere. SpaceX will materially bring down the cost of compute, advancing AI and humanity. Meanwhile, 4,000 SpaceX employees yesterday became millionaires, including hourly wage employees who you claim you are trying to help. The Elon Musks of the world drive growth, global GDP, and provide access to goods and services at lower cost that would otherwise not exist. Elon’s nominal trillionaire status is due to his ownership of SpaceX, Tesla, Neuralink, the Boring Company and his other initiatives that have brought new technologies that improve our everyday lives. Elon is not sitting on a trillion dollar pile of cash, jewelry and gold. He is using his controlling stakes in his companies to advance mankind. Elon’s companies don’t pay dividends. They reinvest all of their capital to accelerate innovation and value creation. Elon is working 24/7 for all of us. He deserves respect and appreciation, not smears. Bernie, your socialism would never allow a SpaceX to be built. Socialism has only proven to impoverish mankind and lead to death and destruction. We need to create the conditions for more SpaceXs to be built, not attack the great entrepreneurs who are helping to advance our country.

Ethereum can already start preparing accounts for a post quantum world, without waiting for a hard fork. Today, it would be just 0.07$ . Further audits incoming. Though I squeezed in a review with Fable before Uncle Sam crashed my party. Verity formal proof included for my lean enjoyers

Prediction markets like @Polymarket and @Kalshi are hot, but they have a dirty secret: the smartest money isn’t playing. By letting people bet on any event -- who wins an election, when the next Fed rate cut lands, how a company’s quarter comes in -- prediction markets promise to give us humanity’s best estimate of how likely something is to happen. The mechanism that’s supposed to deliver that is research getting rewarded. If you spend weeks digging into a race and conclude the market’s 60% should really be 85%, you bet -- and you make money for being right. You get paid for your work, and the public gets your information baked into the price. The promise gets fulfilled. Except it mostly never plays out like this. Your bet is public and tied to your identity. The moment you act on your research, you reveal it. Copiers pile in behind you, and the price moves to your target before you’ve even finished buying. You did the work, but everyone else reprices for free off your wallet. The math isn’t mathing. So the people who actually know things stop showing up, and what’s left is sentiment dressed up as a forecast. Just gamblers at the casino, so to speak. And it only gets worse as these markets grow: more volume means more wallet-watching & more copying. Success punishes the people doing real work and rewards the freeloaders. Prediction markets fail to keep their promise. The public deserves high-quality, real-time estimates on elections, geopolitical conflicts, corporate financials, and the rest. Right now we’re not getting them -- we’re getting the crowd, minus the people who actually know anything. The solution is privacy. Private trades, private portfolios, private identities. No more wallet-watching or copytrading. If you can profit from your research without people knowing it's you, then research will actually get done and PM pricing will actually reflect information rather than sentiment. The promise would finally be fulfilled. This is what we're working on at @FoglightPrivacy. Foglight brings privacy to all onchain applications, including prediction markets. And yes, it will work for @Polymarket. Join the waitlist at and follow @FoglightPrivacy to stay updated.

Prediction markets like @Polymarket and @Kalshi are hot, but they have a dirty secret: the smartest money isn’t playing. By letting people bet on any event -- who wins an election, when the next Fed rate cut lands, how a company’s quarter comes in -- prediction markets promise to give us humanity’s best estimate of how likely something is to happen. The mechanism that’s supposed to deliver that is research getting rewarded. If you spend weeks digging into a race and conclude the market’s 60% should really be 85%, you bet -- and you make money for being right. You get paid for your work, and the public gets your information baked into the price. The promise gets fulfilled. Except it mostly never plays out like this. Your bet is public and tied to your identity. The moment you act on your research, you reveal it. Copiers pile in behind you, and the price moves to your target before you’ve even finished buying. You did the work, but everyone else reprices for free off your wallet. The math isn’t mathing. So the people who actually know things stop showing up, and what’s left is sentiment dressed up as a forecast. Just gamblers at the casino, so to speak. And it only gets worse as these markets grow: more volume means more wallet-watching & more copying. Success punishes the people doing real work and rewards the freeloaders. Prediction markets fail to keep their promise. The public deserves high-quality, real-time estimates on elections, geopolitical conflicts, corporate financials, and the rest. Right now we’re not getting them -- we’re getting the crowd, minus the people who actually know anything. The solution is privacy. Private trades, private portfolios, private identities. No more wallet-watching or copytrading. If you can profit from your research without people knowing it's you, then research will actually get done and PM pricing will actually reflect information rather than sentiment. The promise would finally be fulfilled. This is what we're working on at @FoglightPrivacy. Foglight brings privacy to all onchain applications, including prediction markets. And yes, it will work for @Polymarket. Join the waitlist at and follow @FoglightPrivacy to stay updated.

i think "formal verification is not a silver-bullet cuz specs are hard" is a terminal-stage midwit take — theorem statements are ~3 OOM smaller than implementations e.g. zcash bug was something that was obviously breaking the implicit spec

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