CyanDNA
336 posts
@Vladcostea I’m well aware lol.
Payments will be a thing.
But monetization has to happen first.
Nobody wants to pay with a 100 vol asset.
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it’s incredible how many people - after 17 years - still fail to read the whitepaper to understand why this was created
Bit Paine ⚡️@BitPaine
it’s incredible how many people - after 16 years - still fail to understand that Bitcoin for payments is a solution in search of a problem. it’s fine, it’s good. use it if you want. I applaud Square giving the optionality. but 99.9% of the population simply doesn’t need this, want this, or care that it exists, and no amount of echochamber podcaster coping will change that. Bitcoin for savings is the killer app. always has been. it’s solves an actual problem that people have (currency debasement) that has no other tenable solution.
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Bitcoin is the first savings technology in human history that actually works the way savings is supposed to work.
You earn it.
You hold it.
It doesn't melt.
Nobody can print more.
You pass it to your kids. That's it.
Yet people will see this and continue to leave their coins on an exchange.
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If you only have 1% of your savings in bitcoin, spending bitcoin is illogical. Spending bitcoin is also logical. Saving in bitcoin is using bitcoin. I'm literally telling people to save in bitcoin. Anyone conflating my position on bitcoin treasury companies knows this!
Parker Lewis@parkeralewis
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@DocumentingBTC bitcoin and lightning can never compete for micropayment UX.
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A bit of a bitcoin to message a stranger, refunded when they reply, would end spam on the Internet.
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@theswansjr > Try sending $50K across the world at 2am on a Sunday with your “traditional” system.
um.... to do it illegally is harder, but if you are legally allowed to send $50k from x country to x country then you can do that instantly with tradfi, not at all hard.
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“Bitcoin has no use case.”
Meanwhile it’s moving billions daily, no banks, no delays, no gatekeepers.
Try sending $50K across the world at 2am on a Sunday with your “traditional” system.
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@SadestDAO @StarkWareLtd exactly the question. it's actually end-to-middle
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Quantum computers will break much of the cryptography securing the blockchains we know today.
Starknet is making sure it becomes end-to-end post-quantum secure well before that happens.
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@BitcoinxDaily @RoaringRagnar Top to top is far more logical than bottom after top to top.
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@RoaringRagnar I mean you can stand behind a wrong opinion if you want.
I stand behind the data, not an opinion.
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It’s increasingly clear that Bitcoin has been in a bear market since late 2021.
That‘s almost 5 years.
This becomes especially clear when adjusted for purchasing power.
It‘s been brutal, not gonna lie.
But once the real bull starts, it will be glorious.
Patience.
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@Cryptotarzan19 this is like saying the more packages the postal system delivers the more the price of stamps will go up.
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I personally expect Ethereum to be settling around $100 trillion in annual value by 2030–2035. It could happen sooner, depending on how quickly global onboarding accelerates.
It will come from hundreds of millions of businesses, banks, institutions, organizations, and consumers using Ethereum and its Layer 2 ecosystem as settlement infrastructure.
If Ethereum becomes the settlement layer for a meaningful share of the global economy, the asset securing that activity cannot remain economically small.
My thesis is that $ETH will need to capture a significant portion of the economic value created by the ecosystem it secures.
Under those assumptions, valuation models begin pointing toward a $10–30 trillion network value for ETH over time, implying an $80k–$100k+ ETH.
This means that in the current expectations, $ETH will become one of the most important assets in the world.
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What’s the reason to own $MSTR? It’s no longer a leveraged Bitcoin bet. MSTR shares will keep being sold at massive discounts, substantially diluting the Bitcoin owned per common share indefinitely. MSTR is really just a funding source for creditors and preferred shareholders.
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@brian_armstrong Humanity had self custody for hundreds of thousands of years. A lot of people are happy it's not the only option anymore. Just saying.
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The Coinbase app works great in developed countries with clear-ish rules. But the U.S. for instance is only 4% of global population.
To get to 1b+ people benefiting from the open financial system, self custody is the only way. Lower friction onboarding, available globally, scales like software rather than a separate regulated entity + local team per country.
Then AI agents also need a wallet, and self custody is the better format for that also.
Even in developed countries, self-custody is very important for economic freedom.
Oxen@0xen1
I still don’t understand. if every asset is available on the regular Coinbase app, what’s the point of the Base app.
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@BuddhaPerchance Let me get this straight, the asset that can not be printed and can not be debased just dropped half its value in comparison to the asset that can be printed and can be debased?
How very strange.
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This is the future that awaits, always has, this isn’t new, you have to find a way to save your money in an asset that can not be printed and can not be debased. BITCOIN.
Jeremy@jeremyct
My wife and I got into it last night about the grocery bill. I pulled up an old Target order from February 2020. 28 items. $64.50. Added every single one back to the cart just to see. $158.30. Same 28 items. Same store. Same cart. $93.80 more. In five years. We didn’t buy more. Didn’t upgrade anything. Didn’t add a single extra item. Just needed the same things we always needed. They told us inflation was transitory. They told us it was under control. They told us the economy was strong. Our cart didn’t get any of those memos. 145% increase in five years. Not one member of Congress has looked at a grocery receipt in decades. And it shows.
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@nadochain @StarkWareLtd yeah no shit. if q-day comes anyone can happily mess up starknet's ethereum contracts and goodybe all of starknet.
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@StarkWareLtd What about Ethereum it is running on? When will that be quantum secure?
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Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
Starknet is best positioned to become fully post-quantum secure.
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@StarkWareLtd Starknet's PQ score is Ethereum's PQ score. They are one and the same. It makes zero sense to evaluate Starknet as if its its own L1.
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Thousands of AI agents stress-tested quantum-resistant blockchains.
One network stood out: Starknet.
Independent analysis keeps reaching the same conclusion: Starknet is uniquely positioned to become end-to-end post-quantum secure.
x.com/MosheMalawach/…
Moshe Malawach@MosheMalawach
Ran a (huge) swarm of agents (think thousands, running on LibertAI) on quantum resistant blockchains/projects. StarkWare / Starknet ended up being the more thoroughly covered projects and nothing reached "live-exploitable-today," so congrats (pretty much the only one at that)! :) The AA point is the right one: swapping the signature scheme as an account upgrade instead of a lockstep fork is the hard and you solved it! One friendly nuance, "quantum-ready" is a bit bigger than the account signature. Three things don't ride that same rail: - the on-chain verifier's own security budget (SHARP masks commitments to 160-bit → ~80-bit classical, and it sits outside the numSecurityBits accounting), - finality still reduces to L1, so you're future-proofed conditional on Ethereum moving (secp256k1 messaging + KZG blob DA), and - the upgrade multisig is itself secp256k1 — harvest-now-forge-later touches the migration's own keys. None of it breaks the thesis, just the parts of "short migration" that aren't the signature. Happy to share the full write-up!
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@MosheMalawach @EliBenSasson the whole thing settles to ethereum and is entirely reliant on ethereum for decentralised security. starknet's readiness IS ethereum's readiness, what is the point of looking at it as if it were an L1?
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Ran a (huge) swarm of agents (think thousands, running on LibertAI) on quantum resistant blockchains/projects.
StarkWare / Starknet ended up being the more thoroughly covered projects and nothing reached "live-exploitable-today," so congrats (pretty much the only one at that)! :)
The AA point is the right one: swapping the signature scheme as an account upgrade instead of a lockstep fork is the hard and you solved it!
One friendly nuance, "quantum-ready" is a bit bigger than the account signature. Three things don't ride that same rail:
- the on-chain verifier's own security budget (SHARP masks commitments to 160-bit → ~80-bit classical, and it sits outside the numSecurityBits accounting),
- finality still reduces to L1, so you're future-proofed conditional on Ethereum moving (secp256k1 messaging + KZG blob DA), and
- the upgrade multisig is itself secp256k1 — harvest-now-forge-later touches the migration's own keys.
None of it breaks the thesis, just the parts of "short migration" that aren't the signature. Happy to share the full write-up!
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StarkWare is committed to ensuring Starknet will be quantum-ready.
Why go through the effort?
Because the migration process will be short, at least compared to other chains, thanks to ZK-STARKs and native AA, and the value -- reassuring Starknet is future-proofed -- is high.
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@FigoETH This is just reaching. It's a type of database that is expensive, but then it does stuff that other databases don't do for these corporations, and that stuff drives real profit for them regardless of the expense of the database, so it makes business sense.
That's all. Really.
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With a corp chain you get:
- low tps (relative to web2)
- security of web2 (company can be sued to censor txns etc.)
- insanely high costs for those tps (because complex blockchain tech / security = web2)
- distribution problems (competitors won't use your chain, otherwise their management gets fired from shareholders, rightly so)
But yes, should be a good cashcow for VCs for a while as ignorance lasts.
Won't be too long though.
Omid Malekan@malekanoms
Lol. None of these networks are blockchains. They are databases with a lot of useless cryptography. People will learn this the hard way, when all these efforts fail, because they are the worst of all worlds.
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@TrustlessState Cool thesis bro. Show me the chart where Ethereum blockspace demand collapsed.
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First Polyana post in a while, discusses the tension between Supply and Demand for blockspace and L1 value capture
I thought about this tension a lot when writing about why I sold my ETH.
Eventually, at the endgame, for max-value ETH, fees won't/cant't matter. 'ETH is money' implies a market cap far higher than revenue could ever support.
But the bootstrapping process is different than the terminal environment for ETH, and the bootstrapping process requires Fees.
Two unfortunates things happened at the same time:
- blockspace demand across the industry collapsed ('strong crypto' died)
- blockspace supply exploded
Ethereum was caught in the middle of this collision, and the ETH bootstrapping process got derailed. So we arrived at the terminal state of ETH economics a little too soon, and imo now it seems we're stuck there.
ETH is now a SoV money, at its current market cap.
That's the story that makes the most sense to me.
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@HubertusVIE @Jestopher_BTC it is RGB, not taproot assets. partly for that reason. taproot assets doesn't work for stablecoin issuers.
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@Jestopher_BTC Thanks, I thought it’s on RGB?
Also, Victor of UTEXO went on today during a Space with Gate about how important regulators are and that they can censor payments.
Seems we need to dig deeper here.
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If stablecoins "on Bitcoin" can be confiscated by governments, they are not trustless.
Calling them "on Bitcoin" seems ...
(Looking for the right word.)
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@brucefenton There is no way the cryptography holds for 50 years. Wont even hold for 5 years.
Building money on solvable math problems (that if solved breaks the money) is crazy.
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Sometimes I hear people say that Bitcoin may take 50 years or more to become a true global currency.
We don’t have 50 years. The fiat system is crumbling and will be replaced - either by something better or something worse. Bitcoin is our best and perhaps only real hope to fix the money. We must move fast.
Fix the money. Fix the world.
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@nvk And people ask why self-custody is not catching on. There is no safe and practical self custody.
There is only safe and completely impractical, or maybe-slightly-useful but definitely unsafe.
The idea that the average person can self custody binary data is just madness
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Hardware wallets should not use touch screens.
Too many vendors don't take security seriously enough.
Fun fact, COLDCARD randomizes the keyboard input matrix.
Bitcoin is precious.
Owen Brake@OwenBrakes
Rip every radio out of your phone. It will still leak your inputs. Capacitive touchscreens scan sequentially. Your finger touching the screen affects the local impedance and modulates the emissions. Able to extract keystrokes and pin inputs from 15cm away with ~90% accuracy.
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