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closing section of buffett's final letter:
"One perhaps self-serving observation. I’m happy to say I feel better about the second half of my life than the first. My advice: Don’t beat yourself up over past mistakes – learn at least a little from them and move on. It is never too late to improve. Get the right heroes and copy them. You can start with Tom Murphy; he was the best.
Remember Alfred Nobel, later of Nobel Prize fame, who – reportedly – read his own obituary that was mistakenly printed when his brother died and a newspaper got mixed up. He was horrified at what he read and realized he should change his behavior.
Don’t count on a newsroom mix-up: Decide what you would like your obituary to say and live the life to deserve it.
Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.
I write this as one who has been thoughtless countless times and made many mistakes but also became very lucky in learning from some wonderful friends how to behave better (still a long way from perfect, however). Keep in mind that the cleaning lady is as much a human being as the Chairman."
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New breakthrough quantum algorithm published in @Nature today: Our Willow chip has achieved the first-ever verifiable quantum advantage.
Willow ran the algorithm - which we’ve named Quantum Echoes - 13,000x faster than the best classical algorithm on one of the world's fastest supercomputers. This new algorithm can explain interactions between atoms in a molecule using nuclear magnetic resonance, paving a path towards potential future uses in drug discovery and materials science.
And the result is verifiable, meaning its outcome can be repeated by other quantum computers or confirmed by experiments.
This breakthrough is a significant step toward the first real-world application of quantum computing, and we're excited to see where it leads.

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The cost of living had begun to spiral out of control. What was to be done? Casting around, people found a life raft: shares. Every day the entire population studied the stock market listings. Sometimes some shares collapsed and thousands of people hurtled toward the abyss. In every shop, every factory, every school, share tips were whispered in one’s ear.
-1923 Germany in the book Defying Hitler by Sebastian Haffner
This is the mindset behind sh*tcoins and the wipeouts on them yesterday. These “assets” are just reflections of something terrible that’s happening to money, and as a result, to society. They have no connection to BTC, other than to show the need for it.
No sh*tcoins. No leverage. Always understand who your co-investors are in an asset; are they sane, or are they reckless? Harvard bought BTC, not Fartcoin.
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Probably one of the most severe flushes I’ve ever seen on alts, I didn’t even imagine alts had this much leverage in them. It feels like someone got hit very hard and will see a large body float to the surface soon, reminds me a little of summer 2021.
Good reminder to myself to own things that I am actually bullish on, and not things I am trying to shift on momentum. Some charts look like they’ll never recover, whereas some things look buyable for the first time in a while.
When everyone is making hilarious amounts of money I am always tempted to start using leverage again. It is almost impossible to fight the feeling that you’re not making enough, or everyone else is outpacing you. Good reminder that fighting that feeling and avoid the wipeouts is worth it in the end.
Check on your friends, likely a bad day for many.
Personally, am concentrating my bags into the things I am happy to own for the next few years, and shedding the fat. Realised I own some assets based on not wanting to miss out, rather than on some actual thesis. Days like today are much easier for me if I think my bags will bounce back, and much worse if I’m losing money owning things I don’t even believe in.
Don’t let a leverage blowup dictate your long-term views. The future is bright, good things to come, patience is rewarded.
嵐の後
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Announcement: Unchained Is Now on PumpFun
At Unchained, we are expanding our distribution: we’ll now be live streaming episodes on @pumpdotfun
Yes, this means a memecoin now exists for our brand. To be clear:
❌ We do NOT have plans to sell, hype, or promote the token.
✅ If people choose to trade it, Unchained will receive the standard creator fee set by Pump (about 1%).
We see this as an experiment in supporting crypto-native distribution models. Just as we’ve done with Zora, Pods, Fountain, Drakula, and more, we’re testing new ways to reach audiences where they are.
Crypto media is evolving. For independent journalism like ours to thrive, we need to explore fresh approaches. Pump is potentially one step on that path.
We’re excited to see where this takes us.
That said, come join us, we are live RIGHT NOW!
pump.fun/coin/GgzH3GfJa…
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growing up with a mom in fashion and dad in tech, i learned that taste is more than preference. it’s a form of intelligence.
sociologist pierre bourdieu (1979) argued that taste functions as cultural capital, maintaining hierarchies and signaling class.
today in an era of generative abundance, access to “high” culture is increasingly available.
the scarcity now is discernment. thoughtful selection.
there’s certainly merit in the idea that taste reinforces the existing social order. but i think it’s deeper than that: taste isn’t just reactive, it’s generative.
it doesn’t just reflect a worldview, it creates one.
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Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order.
In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the “Bitcoin superpower of the world.”
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🎂 Ethereum turns 10:
A decade ago, it launched with a bold idea: general-purpose smart contracts on a credibly neutral, permissionless base layer.
Since then, it has become the settlement layer for stablecoins, DeFi, tokenized assets, and more.
Here’s what it’s built—and what’s next:
2015–2025: Key Achievements:
• EVM & Solidity (2015): Programmable contracts, ERC-20, the ICO era
• Byzantium (2017): First major step towards PoS roadmap
• EIP-1559 (2021): Fee burn + deflation
• The Merge (2022): Proof-of-Stake, -99.99% energy use
• Shanghai (2023): Staking withdrawals, validator maturity
• Pectra (2025): Numerous improvements, L2 scalability
Scaling the Ethereum Economy:
• Dencun + EIP-4844 (2024): Proto-danksharding. Rollup data costs down 10–30×+.
• Rollups surpass L1 in volume (2025): The rollup-centric roadmap realized
• EigenLayer (2024): ETH restaking extends security to oracles, bridges, and more
• ETH ecosystem TPS grew from ~50 at the start of 2024 to over 200 today.
Real-World Assets Come On-Chain:
• Ethereum’s RWA value has grown from ~$1B at the start of 2023 to almost $10B today.
• BlackRock BUIDL:
$2.9B tokenized MMF on Ethereum
• JPM Onyx, Goldman, Fidelity:
Tokenizing deposits, MMFs, and bonds on EVM rails
Stablecoins are Ethereum’s killer app:
• $150B+ in total supply
• ~60% of all stablecoins reside on Ethereum and its L2s
Ethereum is the backbone for tokenized dollars.
What’s Still to Come:
• Full Danksharding: Sub-cent rollup costs at scale
• Single-Slot Finality (SSF): Finality in ~12s
• Enshrined Account Abstraction: Smart wallets, passkeys, session keys
• Statelessness: Light clients on mobile
• zkPrivacy: Selective disclosure
• Post-quantum signatures: Long-term resilience
Onboarding the World:
• Ethereum is building for global scale
• Cheap L2s + shared sequencers → 100k TPS
• BlackRock, JPM, and PayPal choose Ethereum for real-world finance
• EIP-4337 + attestations → self-custodied compliance
• Stateless clients → inclusion for the 1.4B unbanked
Ethereum is not a finished product. It's a continuously evolving ecosystem.
From credible neutrality to programmable finance, from NFTs to sovereign rollups—Ethereum is slowly becoming the settlement layer of civilization.
The next 10 years will bring:
• Sub-second, sub-cent transactions
• Tokenized markets on public rails
• Embedded compliance via smart wallets
• Shared security as infrastructure
• Billions of users self-custodying assets on phones
Etherealize is honored to be part of Ethereum’s journey.
We’ll spend the next decade helping institutions, nations, and everyday users enter the Ethereum economy—from Wall Street to the unbanked.
ETH is the settlement layer of the digital era.
Onward.
Etherealize@Etherealize_io
believe in somETHing
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1/ Today’s White House report is clear: crypto is a pillar of America’s innovation strategy. It advances clear, thoughtful approaches to decentralization, tax, market structure, & GENIUS implementation. Grateful to @realDonaldTrump @BoHines @davidsacks47 for their leadership.

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Every username on the Base App is an ENS name. 750K+ .base.eth handles registered - powering identity across apps and platforms.
This is what onchain identity looks like ⤵️
ens.domains/ecosystem/base

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1/ The GENIUS Act has officially passed Congress — a landmark moment for stablecoins, Ethereum, and the future of crypto in the U.S. 🇺🇸
This legislation unlocks responsible innovation, protects consumers, and affirms America’s leadership in digital finance.
Thank you for supporting crypto innovation.
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The two most important things in the world from here is no longer what school you went to or what your resume looks like
It is the amount of **agency** you bring to the table, and the **taste** you have that lets you get the most out of AI
Agency (prompting) and taste (evals)
Pirate Wires@PirateWires
NEW: Replit founding data scientist and engineer @giansegato: “I’ve begun to see product managers developing business financial models; designers writing commercial ads; barbershops building custom booking systems; and restaurant owners creating advanced pricing tools... These people always had it in them to do these things. The key difference is that it no longer takes years to learn how.” Gian’s in Pirate Wires today with a piece on the "unraveling of credentialism" — and how having an edge in the market is no longer about knowing how to do one specific thing very well, but about being biased toward making it happen. Link threaded 👇
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