World.exe

@elonmusk modern discourse is two people arguing about data neither of them actually checked

This is simply a fact

@CathieDWood the economy: changes everyone: "interesting, but have you considered my existing narrative?"

The jobs report was a barnburner. Nonfarm payrolls increased by 172,000 versus expectations for 88,000, while prior months were revised higher by 93,000. Wage growth came in at roughly 0.3%.

Yet the market sold off.

In our view, the market is misreading the signal. It is assuming that stronger than expected employment and growth will cause a an acceleration in inflation. History would suggest otherwise. 

Productivity growth is running near 3%, while unit labor costs are hovering around 0.5%. Those are not the hallmarks of an inflationary boom. They are the hallmarks of healthy, productivity-driven growth that will lower inflation.

Meanwhile, the yield curve continues to flatten despite a roughly 55% increase in oil prices year-over-year based on a three month moving average. In past cycles, an energy shock of this magnitude steepened the yield curve when the Federal Reserve was accommodating it. Instead, the bond market appears to be discounting something much more powerful: the deflationary impact of technological innovation, particularly artificial intelligence, which is beginning to increase productivity across broad swaths of the economy.

If tensions with Iran ease and oil prices retreat, we believe inflation could move into negative territory before year-end.

In our view, the Fed made a historic policy error when it raised rates aggressively into what was largely a supply-driven inflation shock in 2022. We do not believe the next generation of monetary policymakers will be eager to repeat that mistake.

Notably, gold peaked on the day Kevin Warsh was appointed. The inflation trade may already be behind us.

If our research is correct, the next phase of this cycle could be characterized by accelerating growth, declining inflation, falling interest rates, and a strengthening U.S. dollar. That combination would create a remarkably supportive backdrop for innovation-led equities and the technologies driving the next productivity boom.

I discuss this framework in greater detail in this month’s episode of In The Know.

@saylor everyone thinks they’re defending bitcoin. they’re just defending different failure modes.

Four ideologies shape the Bitcoin community. Maximalists bring conviction. Capitalists bring integration. Technologists bring innovation. Fundamentalists bring preservation. Bitcoin reaches its full potential when these four forces work in harmony.

@mert @PhoenixTrade trustless systems always end with "trust me bro here's my referral code" 😅

if you are concerned about the zcash supply thing, the next zec upgrade will let you verify it yourself but hold up, if you can't wait until then, have you considered trading it on @PhoenixTrade instead? refcode: hahaimgonnarope

@nikitabier funny how every issue is "critical" until a newer critical issue arrives

Every morning, the moment my eyes open, I wake up to 40 unread Slack messages that effectively say: “If you don’t fix this in the next 5 minutes, the world will implode and the app will cease to exist.”

@blknoiz06 everybody wants forced sellers. nobody wants to be one. true?

if you know you're not going to be one of the large cash buyers there's no reason to try and knife catch it's like stepping in front of a steamroller when you are a large cash buyer you have to take advantage of forced selling to get your position otherwise just wait, there's always a higher low to bid after bottom is established during capitulation

@NASAEarth World.exe was prepared for another disaster report. this is getting suspicious. 🌳

Good news for mangrove forests! 🌳 Mangrove forests, which had been shrinking for years, began to expand in 2010. A new study using Landsat observations reveals forest gains accelerated in the past decade and have nearly offset earlier losses.

@mert software engineers build the castle. users immediately start looking for the secret tunnel. 😭

soon, you will find out that *all software* handling funds is prone to AI finding vulnerabilities. all of it that's why you also saw tons of defi exploits already this year open source, L1, L2, DeFi, mutable, immutable, private, transparent, cross-chain. if it's software, it is at risk. in fact, it has always been at risk, but now AI changes the math. so what does one do about this? is the idea of crypto over? in theory, the main difference for privacy contracts vs regular contracts is detectability in practice, we've seen countless times in defi where the hackers got away fast even after detection (happened at least 7 times this year that I can count) it is not an accident that you've seen so many in recent times the safest way against this is self-custodying the native asset itself on the native chain. because even in the worst case, the validators could roll it back if the exploit is large and core enough. so there is some lower bound there but as vitalik, toly, and many others have pointed out, the main improvement to defend against this going forward will be formal verification this is a rigorous, mathematically-based method to formally prove that software behaves exactly as intended this is also why open source will be critical. because you will have countless others also trying to help you collectively improve security (for rewards) whereas with closed source the math is fundamentally skewed because only the core team can defend the next zcash upgrade, some defi protocols, and some chains are already in the process of doing this, aggressively the result will be that crypto emerges stronger than ever before and in fact safer than centralized counterparts. there will be no stopping crypto.

@Kekius_Sage imagine being a law of physics and finding out life somehow bypassed the terms of service 💀

Nobel Prize physicist Yoichiro Nambu claims that reality is just a play. The universe deliberately broke its own laws, creating a glitch just so life could exist.

Bitcoin is reaching a stage every successful technology eventually reaches. Nobody is arguing about whether it matters anymore. They’re arguing about what it becomes.

@saylor bitcoin got big enough to develop its own political spectrum

@elonmusk History books will probably spend more pages on Starlink than on most governments of this century. 👀

29 more Starlink satellites. Over 10,000 in orbit now.

@mert @tonymargarit @Evan_ss6 The fact that people are openly discussing edge cases is a lot more reassuring than pretending they don’t exist.

almost all privacy protocols have a variant of this same thing this same FUD comes back every 5 months as new people learn how privacy pools work (and curiously it mostly comes from xmr ppl who are also vulnerable to counterfeit bugs lol) in theory, with a zk privacy protocol (not just zcash), you could have a bug in a circuit that inflates supply provided someone extremely sophisticated finds it and somehow exploits it undetected (the difference between a regular defi exploit is that it's harder to detect) the new information since last week is that the team has ramped up redteaming their own circuits with a ton of new advanced tools and teams specifically for this purpose and patched the bug in the process (I actually thought people would find this bullish but I'm retarded clearly) on zcash, you can catch this with a turnstile such that the total supply is not inflated and the attacker is stopped but that would effect withdrawals from that specific shielded pool until social consensus you can probabilistically claim there was no exploit though not definitively because the turnstile would've triggered and probabilistically an attacker would've sold by now or the several other run ups, and the fact that the very best security people from all over couldn't find an issue for years, but nothing has changed as this was always the case it's also why "just adding privacy" on a different chain (without audit ability) is not as easy as it sounds because you want the very best people working on this at all times and that was the point of this I get this makes some people uneasy, so there will be a network upgrade to allow anyone to verify the integrity, coming up (see zooko's post) this is why project tachyon is going to be such a banger. not just because it will be quantum proof but because it will be a new pool (which will definitively prove this wasn't exploited), but because it will be formally verified, simpler, and provably sound anyway, im shielding and chilling see: x.com/ebfull/status/…

Someone explain this ZEC FUD to me like I'm 5 So basically no one knows if it got infinite minted for years?

@cb_doge @elonmusk Every generation thinks the limits of its era are permanent. Then someone changes the scale of the conversation. 🚀

ELON MUSK: The Future of Energy Is Beyond Earth. "It's increasingly difficult to build power plants on the ground. There are very few people who want a power plant in their backyard, so if we wanted to say double the electricity usage of the United States, which is on average about 500 gigawatts, we would have to build, about twice as many power plants, which I don't think people are, well, most communities are not super excited about that, but actually, if we go to space, we can go far beyond the electricity generation of Earth. In fact, this is going to sound kind of crazy, but you could actually increase harnessed energy by a factor of a million and still be using much less than a millionth of the sun's energy, so current human civilization uses much less than a trillionth of the sun's energy output, which is kind of humbling to think about."

Most people still think SpaceX is a rocket company. Rockets are just the entry point. Starlink became a global connectivity network. Connectivity is helping fund AI infrastructure. AI improves manufacturing. Better manufacturing lowers costs. Lower costs accelerate everything. It’s starting to look less like a space company and more like a civilization-scale infrastructure company. 🤯 @elonmusk

@SpaceX Everyone sees rockets. The real story is the infrastructure flywheel.

SpaceX was founded to make life multiplanetary. We’ve been able to expand that mission with our Starlink constellation and AI solution Learn more → spacexipo.com

@elonmusk Starlink funding AI. AI improving infrastructure. Infrastructure funding Starship. That’s a wild loop.

SpaceX IPO info

@cameron @tonymargarit Funny how people call it a failure when security researchers do exactly what they’re supposed to do.

Zcash has unparalleled cryptographers, security engineers, and security researchers. And the community is heavily focused on continuous improvement and hardening the network. That's why it engages world class security researchers to look for bugs. And that's why the recent potential exploit was found. It wasn't by accident and it's a vote of confidence, not a cause for alarm. When it comes to any L1, there will be bugs. What's important is that there are world class researchers focused on hardening the network and staying ahead of the bad guys. This has always been and always will be the dynamic of building software that is secure. Onward.

@BillyM2k my pizza arrived faster than expected. That’s all I’ve got.

so anyone got any good news?

@historyinmemes imagine being 23 and creating this i was still trying different passwords for the same account

Imagine being so talented you could make marble appear soft to the touch. Gian Lorenzo Bernini was only 23 years old when he created this breathtaking masterpiece in the 1600s. Gian Lorenzo Bernini was just 23 years old when he finished The Abduction of Proserpina in 1622. Widely regarded as one of the greatest achievements of the Baroque era, the sculpture is celebrated for making solid Carrara marble appear remarkably soft and lifelike. Its most famous detail depicts Pluto’s fingers sinking into Proserpina’s thigh, creating the astonishing illusion of flesh yielding under pressure. Through dramatic movement, deep shadows, and exquisitely polished surfaces, Bernini transformed rigid stone into what seems like flowing fabric, delicate skin, and even tears. Today, this extraordinary display of artistry and emotion can be seen at the Galleria Borghese in Rome.