Occasional thoughts on crypto projects and investing.
Joined January 2024
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It feels like $ORE may have hit that tipping point where an idea has enchanted a critical mass of people, that initial network effects are beginning to form.
It will be interesting to see whether ORE's democratized approach to mining accelerates the flywheel faster than previous SoV attempts.
Just realised that solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp has no CEX distribution whatsoever.
Upwards reflexivity will be violent
BullishBits retweeted
Zcash attempts to outcompete Bitcoin by adding one additional monetary property: privacy.
This however comes at the cost of a much bigger attack surface, and an increased risk of catastrophic failure.
We saw this exact vulnerability play out just a few months ago.
I think it’s likely that $ZEC won't survive another close call.
The beauty of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is its ability to offer privacy without inheriting Zcash's structural risks.
It is only a matter of time before $ZAMA brings FHE privacy to Solana, while other teams deploy competing ZK solutions
ORE holders can then simply sit back and let the best privacy protocols on Solana compete with one another.
And while solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp can negate Zcash's privacy advantage, it also offers several monetary properties that Zcash simply can’t match. More on this in a future post.
The market cap of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is under $100m.
A fast re-rating will happen as more people think through its monetary attributes, and compare them to say $ZEC.
Zcash attempts to outcompete Bitcoin by adding one additional monetary property: privacy.
This however comes at the cost of a much bigger attack surface, and an increased risk of catastrophic failure.
We saw this exact vulnerability play out just a few months ago.
I think it’s likely that $ZEC won't survive another close call.
The beauty of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is its ability to offer privacy without inheriting Zcash's structural risks.
It is only a matter of time before $ZAMA brings FHE privacy to Solana, while other teams deploy competing ZK solutions
ORE holders can then simply sit back and let the best privacy protocols on Solana compete with one another.
And while solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp can negate Zcash's privacy advantage, it also offers several monetary properties that Zcash simply can’t match. More on this in a future post.
1. Stake solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp
2. Hold solana:G1jonmoSEbMJSwEg1AmgDAJq2utmuBSZct8oqttBf9rT
Sit back and compound.
For a SoV asset to succeed over the long term, there must be clear, rational reasons why its combined monetary properties credibly outperforms existing alternatives.
In short, the evaluation must address at least four key questions:
1. How does the new asset rank relative to existing SoVs across well-established monetary properties?
2. Does the new asset possess any monetary properties that existing SoVs lack?
3. Does the new asset introduce entirely new monetary properties that did not previously exist?
4. Beyond its monetary properties, does the asset offer unique features that accelerate distribution, amplify network effects, and minimize risks?
Nobody has yet put together a comprehensive case comparing Gold, $BTC, $ZEC, and $ORE across these dimensions.
Once they do, I suspect people will be surprised by the strength of ORE's value proposition.
solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp negates Zcash privacy advantage, without inheriting its structural risk.
Big re-rating once people grok this.
Zcash attempts to outcompete Bitcoin by adding one additional monetary property: privacy.
This however comes at the cost of a much bigger attack surface, and an increased risk of catastrophic failure.
We saw this exact vulnerability play out just a few months ago.
I think it’s likely that $ZEC won't survive another close call.
The beauty of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is its ability to offer privacy without inheriting Zcash's structural risks.
It is only a matter of time before $ZAMA brings FHE privacy to Solana, while other teams deploy competing ZK solutions
ORE holders can then simply sit back and let the best privacy protocols on Solana compete with one another.
And while solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp can negate Zcash's privacy advantage, it also offers several monetary properties that Zcash simply can’t match. More on this in a future post.
Buying solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp today is like buying $38 $ZEC in 2025
Yes I will elaborate with a bull case à la Vijay Boyapati
I began buying solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp before Sasha’s thesis. I bought more after. Also added some solana:G1jonmoSEbMJSwEg1AmgDAJq2utmuBSZct8oqttBf9rT for some additional fun spice.
Had no clue, what an amazing story.
A man got fired from his job, was unemployed for 10 months, watched his savings crash 75%, and somehow built one of crypto's biggest exchanges.
> In July 2017, Siemens laid off Hayden Adams, a 24-year-old mechanical engineer.
> He had no software engineering career to fall back on.
> His friend Karl Floersch told him Ethereum was the future and convinced him to learn smart contract development.
> Hayden spent two months learning to code.
> Then Karl showed him an idea from Vitalik Buterin about how people could trade tokens without a traditional exchange matching buyers and sellers.
> Hayden started building a prototype. Called it Uniswap.
> By April 2018, he'd been unemployed for 10 months and the crypto he was living on had lost over 75% of its value.
> Most people would've started looking for another job.
> Hayden booked a flight to South Korea to attend a crypto conference.
> He didn't even have a ticket to the event and was turned away at the entrance.
> Then he ran into Karl, who introduced him to Vitalik Buterin.
> Vitalik pulled out his phone and read Hayden's smart contract right there.
> He adviced him to apply for an Ethereum Foundation grant.
> Hayden applied and got the grant which was valued at around $100,000 on paper.
> After $ETH's price dropped, its actual value was closer to $55,000–$60,000.
> He kept building.
> On November 2, 2018, Uniswap launched on Ethereum.
> Today, it's one of the most important decentralized exchanges in crypto, allowing people to trade tokens without relying on a traditional centralized exchange.
A man lost his job, watched his savings collapse, and built one of crypto's biggest financial platforms.
Imagine if he'd just updated his CV and moved on.
I am surprised nobody has copied Vultisig’s multi-device MPC approach, which splits keys across devices so no single one ever holds the full private key.
I am convinced that if a trusted world class team copied the MPC model, and wrapped it in a modern design that lets you do more things with your assets, it would have millions of users quickly.
Great interview and worth watching
Interview with @SoskaKyle to discuss the generational HYPE trade, what it's like trading with @ThinkingUSD, and how to make it this cycle.
0:00 Bull or Bear Market?
2:49 Kyle’s Journey into Crypto
8:44 “Would You Be Right or Make Money?”
15:52 Teaming up with Flood
21:01 The Famous $HYPE Trade
36:02 Bitcoin and the Quantum Problem
43:20 $ZEC vs $BTC
46:30 Selling All Their $ETH
52:53 Crypto’s Real PMF
1:00:05 Are Great Traders Born or Made?
1:11:11 Memorable Trade (A Painful One)
1:21:39 Cycle Skip Theory vs 4 Year Cycle
1:26:50 Midcurve Traps & Onchain Metas
1:31:40 Hardest Lessons & How to Make It
1:37:55 Managing Tilt & the Art of Selling
1:49:02 Regrets and Final Words of Wisdom