@MaxResnick

Artisanal magic state cultivation and distillation

 NYC
Joined June 2020
  • Tweets9.8K
  • Following1.4K
  • Followers19.1K
636Media

Scoring SIMD 553: The Law of Demand

I am generally in support of pricing based on resources consumed. My validator voted yes on SIMD 553 this morning; however, I am extremely disappointed by the quality of discourse surrounding this pro…

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The Simple Economics of L1 Value Capture.

I'm sharing this post in relation to upcoming votes on SIMD 550 (Double Disinflation Speed) and SIMD 553 (Resource Fees). Rather than a comentary on these proposals in particular (I have already left …

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In Defence of Blockchain Accelerationism

In July 2010, Satoshi Nakamoto added a one-megabyte limit on block size to the Bitcoin codebase. It was an anti-spam measure, introduced without announcement at a time when blocks were nearly empty. W…

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Not all volatility is created equal.

The celebrated LVR papers (Milonis et al, 2022, 2023) mostly consider a diffusion model of "fair" prices in which the "fair" price moves randomly over time according to a series of small continuous pr…

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The Biggest Threat to Bitcoin is Quantum Computers: But it's Not for the Reason You Think

Everyone has heard that quantum computers running Shor's algorithm can theoretically crack Bitcoin's public/private key cryptosystem. But Shor's algorithm's lesser known younger brother Grover's algor…

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Stop Trying to Kill a Mosquito With a Bazooka

If you want to preserve the long tail of the validator set, issuance isn't the right tool for the job. 90% of revenue from validator comissions on issuance goes to top 200 validators. There are othe…

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I Support 228 Because I Want Solana to Win.

I support 228 because I want Solana to win. Continuing excessive SOL emissions means continuing to throw away hundreds of millions of dollars a year to governments and middle men for no reason.

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Ethereum Needs to Dream Bigger

Ethereum was conceived in 2013 to change the world. Since then, the original vision of a blockchain that would serve as the backbone for a new world order—a permissionless financial substrate with e…

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