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Vitalik Buterin explains why proof-of-stake is more secure than proof-of-work “I think proof of stake is very secure because to attack the system, you need to have basically as much stake as the rest of the network. Right now, for example, we have 5 million ETH staking, which means...

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101,954 görüntüleme • 3 ay önce •via X (Twitter)

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"I used to be a bitcoiner. The transition to a new store of value only happens once every 3,000 years. That's the main prize -- just focus on that. But [security] is the criteria that ultimately convinced me to flip from Bitcoin to ETH." "I have a higher degree of certainty that Ethereum will be around longer [than Bitcoin]. The reason for that is because Bitcoin relies on proof-of-work, which is less efficient than proof-of-stake and doesn't scale with the value of the network. And as the block subsidy of Bitcoin halves every four years, it is increasingly becoming more and more reliant on transaction fees to fund the security budget paid to miners." "If you look at [Bitcoin's] security budget right now, about 0.6% of revenue to miners is transaction fees... The problem with that is if Bitcoin becomes 'digital gold', flips gold, and becomes a $30 trillion asset, but it only costs $10-20 billion to attack it, that's too asymmetric." "You want the security budget to scale with the market cap, similar to how countries spend a % of their GDP on defense. The more valuable something is, the more you need to spend to protect it." "Ethereum, with the Merge, migrated to proof-of-stake, which is fundamentally more secure because it's less reliant on transaction fees and it scales with the value of the network. If 1/3rd of ETH is staked and then you need 1/3rd of those ETH to censor the network, you're looking at roughly 10% of the total market cap as the cost to attack the network." "So if Ethereum flips Bitcoin and gold and becomes a $30 trillion asset, it'll cost ~$3 trillion to attack the Ethereum network versus Bitcoin at like $10 billion." "The other aspect here is that as AI hyperscalers invest more and more in AI, proof-of-work becomes increasingly vulnerable because the cost to attack the Bitcoin network is starting to look close to the quarterly CapEx these hyperscalers are spending on their data centers." Full interview on Bankless with Vivek Raman discussing the new Etherealize "Productive Money" report below.
2:34

"I used to be a bitcoiner. The transition to a new store of value only happens once every 3,000 years. That's the main prize -- just focus on that. But [security] is the criteria that ultimately convinced me to flip from Bitcoin to ETH." "I have a higher degree of certainty that Ethereum will be around longer [than Bitcoin]. The reason for that is because Bitcoin relies on proof-of-work, which is less efficient than proof-of-stake and doesn't scale with the value of the network. And as the block subsidy of Bitcoin halves every four years, it is increasingly becoming more and more reliant on transaction fees to fund the security budget paid to miners." "If you look at [Bitcoin's] security budget right now, about 0.6% of revenue to miners is transaction fees... The problem with that is if Bitcoin becomes 'digital gold', flips gold, and becomes a $30 trillion asset, but it only costs $10-20 billion to attack it, that's too asymmetric." "You want the security budget to scale with the market cap, similar to how countries spend a % of their GDP on defense. The more valuable something is, the more you need to spend to protect it." "Ethereum, with the Merge, migrated to proof-of-stake, which is fundamentally more secure because it's less reliant on transaction fees and it scales with the value of the network. If 1/3rd of ETH is staked and then you need 1/3rd of those ETH to censor the network, you're looking at roughly 10% of the total market cap as the cost to attack the network." "So if Ethereum flips Bitcoin and gold and becomes a $30 trillion asset, it'll cost ~$3 trillion to attack the Ethereum network versus Bitcoin at like $10 billion." "The other aspect here is that as AI hyperscalers invest more and more in AI, proof-of-work becomes increasingly vulnerable because the cost to attack the Bitcoin network is starting to look close to the quarterly CapEx these hyperscalers are spending on their data centers." Full interview on Bankless with Vivek Raman discussing the new Etherealize "Productive Money" report below.

Michael McGuiness

120,231 görüntüleme • 2 ay önce

If you do anything today, please listen to this 3-min clip on what Co-CEO Joseph Chalom refers to as The ETH Opportunity... FYI, Joe is the former Head of Digital Assets Strategy at BlackRock, who drove the creation of IBIT, ETHA, and BUIDL. "The more assets and transactions that are secured on the Ethereum network, have been proven to increase the value of ETH..." "If you look at the last 5 years, for each $2 secured on the network, on Ethereum and the L2s, it's driven about $1 of market cap value of Ethereum [ETH]..." "And if you take a step back and say stablecoins are at this size today, but Treasury Secretary Scott Bessent says it's gonna grow to a trillion over the next 3 years, if you look at the adoption of RWAs, which is in the first inning and can literally go j-curve, the value of tokenized assets which could be measured in the trillions or tens of trillions... they are gonna be secured by a decentralized network. We believe the vast majority is gonna be Ethereum. That is a bull case for ETH..." "If more assets are secured on the Ethereum network, the value of ETH will go up, and the value of it being a trust commodity, the highest value of money, is gonna be critically important if you believe we are at a paradigm shift, and that's what I call the ETH opportunity. It's not a trade, it's an ETH opportunity." "And for all of those who feel like they missed the early days of crypto, you are at still a very early entry point in the adoption of Ethereum and that is the long term ETH opportunity, not the ETH trade." ACCELERATE 🚀
3:10

If you do anything today, please listen to this 3-min clip on what Co-CEO Joseph Chalom refers to as The ETH Opportunity... FYI, Joe is the former Head of Digital Assets Strategy at BlackRock, who drove the creation of IBIT, ETHA, and BUIDL. "The more assets and transactions that are secured on the Ethereum network, have been proven to increase the value of ETH..." "If you look at the last 5 years, for each $2 secured on the network, on Ethereum and the L2s, it's driven about $1 of market cap value of Ethereum [ETH]..." "And if you take a step back and say stablecoins are at this size today, but Treasury Secretary Scott Bessent says it's gonna grow to a trillion over the next 3 years, if you look at the adoption of RWAs, which is in the first inning and can literally go j-curve, the value of tokenized assets which could be measured in the trillions or tens of trillions... they are gonna be secured by a decentralized network. We believe the vast majority is gonna be Ethereum. That is a bull case for ETH..." "If more assets are secured on the Ethereum network, the value of ETH will go up, and the value of it being a trust commodity, the highest value of money, is gonna be critically important if you believe we are at a paradigm shift, and that's what I call the ETH opportunity. It's not a trade, it's an ETH opportunity." "And for all of those who feel like they missed the early days of crypto, you are at still a very early entry point in the adoption of Ethereum and that is the long term ETH opportunity, not the ETH trade." ACCELERATE 🚀

DeFi Dad ⟠ defidad.eth

259,820 görüntüleme • 10 ay önce

.Justin Drake: "I don't see how ETH could not flip BTC" Justin is asked: What's Ethereum? Is it a settlement layer? A world computer? Monetary network? He responds: "For me, this hasn't changed for many years. Ethereum is the Internet of Value." "In order to be successful as the Internet of Value you need very good money at the center of it because that will be the substrate -- the economic bandwidth -- that will allow you to build a lot of services (e.g. loans, stablecoins)." "In some sense, the success of the platform and the success of the money are tied at the hip. This is why I think those who are pushing for ETH as money are really helping the platform and vice versa -- those who are helping the platform are helping with ETH the money." "One of my theses is that we'll have winner-takes-most platforms. There's only one Internet. There's only going to be one Internet of Value that captures 90-99% of all economic activity. And just for weird, path-dependent reasons, we have Bitcoin that is the largest money right now. But I think this is a highly-unstable equilibrium for multiple reasons. And I think the best candidate to win the Internet of Value is by far Ethereum." Fede’s intern 🥊 adds to this point, "I was never convinced there was a chance of [Ethereum flipping Bitcoin] to be honest. But I'm getting convinced there's a high probability -- you [Justin] have played a part in convincing me because of the issuance (declining block subsidy) and now the post-quantum. I do think there's a high chance that ETH becomes the dominant economic substrate in the long-term. I don't see how proof-of-work could work long-term." Justin echoes this: "Unless there's some catastrophic failure of Ethereum, I don't see how Ethereum could not flip Bitcoin." Source: Blockspace Forum Read our thesis on why ETH is better money than BTC below 👇
2:36

.Justin Drake: "I don't see how ETH could not flip BTC" Justin is asked: What's Ethereum? Is it a settlement layer? A world computer? Monetary network? He responds: "For me, this hasn't changed for many years. Ethereum is the Internet of Value." "In order to be successful as the Internet of Value you need very good money at the center of it because that will be the substrate -- the economic bandwidth -- that will allow you to build a lot of services (e.g. loans, stablecoins)." "In some sense, the success of the platform and the success of the money are tied at the hip. This is why I think those who are pushing for ETH as money are really helping the platform and vice versa -- those who are helping the platform are helping with ETH the money." "One of my theses is that we'll have winner-takes-most platforms. There's only one Internet. There's only going to be one Internet of Value that captures 90-99% of all economic activity. And just for weird, path-dependent reasons, we have Bitcoin that is the largest money right now. But I think this is a highly-unstable equilibrium for multiple reasons. And I think the best candidate to win the Internet of Value is by far Ethereum." Fede’s intern 🥊 adds to this point, "I was never convinced there was a chance of [Ethereum flipping Bitcoin] to be honest. But I'm getting convinced there's a high probability -- you [Justin] have played a part in convincing me because of the issuance (declining block subsidy) and now the post-quantum. I do think there's a high chance that ETH becomes the dominant economic substrate in the long-term. I don't see how proof-of-work could work long-term." Justin echoes this: "Unless there's some catastrophic failure of Ethereum, I don't see how Ethereum could not flip Bitcoin." Source: Blockspace Forum Read our thesis on why ETH is better money than BTC below 👇

Etherealize

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One of John McAfee's last messages to the people: "Some of you may be living an existence of dissatisfaction... of emptiness... of longing." "This sense of longing... is really your loss of freedom. And it is freedom for which you yearn." "And you have none in this government. A government... which started out with the people being free and the government being our servants. It has become the government is free... and it's the people that are the servants." "You have woken up to your reality. That is what you are feeling." "Wake up a bit more and do something about it."
2:00

One of John McAfee's last messages to the people: "Some of you may be living an existence of dissatisfaction... of emptiness... of longing." "This sense of longing... is really your loss of freedom. And it is freedom for which you yearn." "And you have none in this government. A government... which started out with the people being free and the government being our servants. It has become the government is free... and it's the people that are the servants." "You have woken up to your reality. That is what you are feeling." "Wake up a bit more and do something about it."

Shadow Intel

163,744 görüntüleme • 1 ay önce

One of John McAfee's final messages to the world: "Some of you may be living an existence of dissatisfaction... of emptiness... of longing." "This sense of longing... is really your loss of freedom. And it is freedom for which you yearn." "And you have none in this government. A government... which started out with the people being free and the government being our servants. It has become the government is free... and it's the people that are the servants." "You have woken up to your reality. That is what you are feeling." "Wake up a bit more and do something about it."
2:00

One of John McAfee's final messages to the world: "Some of you may be living an existence of dissatisfaction... of emptiness... of longing." "This sense of longing... is really your loss of freedom. And it is freedom for which you yearn." "And you have none in this government. A government... which started out with the people being free and the government being our servants. It has become the government is free... and it's the people that are the servants." "You have woken up to your reality. That is what you are feeling." "Wake up a bit more and do something about it."

Red Pill Dispenser

515,727 görüntüleme • 9 ay önce

After an incredibly successful week at Token2049, the highlight was undoubtedly presenting our SPIN whitepaper at the Bleeding Edge Summit! While still waiting for the official video, we would like to share a recording from the audience. With SPIN, we're introducing a revolutionary approach to building proof-of-stake blockchains. There is a well-known chicken and egg problem when it comes to launching a new proof-of-stake blockchain. You need high value at stake to achieve economic security, but at the same time, for achieving that, you already need to be secure. With SPIN, you can borrow security from well-established networks such as Polkadot or Ethereum. Unlike a Layer 2, which completely gives up chain sovereignty and frequently sacrifices scalability and throughput to satisfy Layer 1 validation protocols, SPIN maintains full sovereignty of the Fast Chain while still benefiting from the security of the Anchor Chain. Our SPIN protocol addresses this fundamental challenge by enabling a fast, sovereign chain to maintain and grow its economic security with its own validator network, while simultaneously leveraging an established anchor chain to provide a second layer of finality. With SPIN, we take an unlimited set of stakers, reduce it to a limited set of validators who can run very quickly, producing a consecutive sequence of blocks during their staker period. This design allows for blocks with very small block times, as low as 0.1 seconds and beyond. Our full SPIN whitepaper will be released soon.
7:27

After an incredibly successful week at Token2049, the highlight was undoubtedly presenting our SPIN whitepaper at the Bleeding Edge Summit! While still waiting for the official video, we would like to share a recording from the audience. With SPIN, we're introducing a revolutionary approach to building proof-of-stake blockchains. There is a well-known chicken and egg problem when it comes to launching a new proof-of-stake blockchain. You need high value at stake to achieve economic security, but at the same time, for achieving that, you already need to be secure. With SPIN, you can borrow security from well-established networks such as Polkadot or Ethereum. Unlike a Layer 2, which completely gives up chain sovereignty and frequently sacrifices scalability and throughput to satisfy Layer 1 validation protocols, SPIN maintains full sovereignty of the Fast Chain while still benefiting from the security of the Anchor Chain. Our SPIN protocol addresses this fundamental challenge by enabling a fast, sovereign chain to maintain and grow its economic security with its own validator network, while simultaneously leveraging an established anchor chain to provide a second layer of finality. With SPIN, we take an unlimited set of stakers, reduce it to a limited set of validators who can run very quickly, producing a consecutive sequence of blocks during their staker period. This design allows for blocks with very small block times, as low as 0.1 seconds and beyond. Our full SPIN whitepaper will be released soon.

QF Network

25,542 görüntüleme • 1 yıl önce

"The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is evaluating the code. Which of this code is even valuable? You can have AI engineers writing beautiful code that could be wrong, that could have bugs in it, that could be vulnerable. Someone needs to review it. Make sure to have a human review at some point, especially critical code that is in the core of your system. On the product side is judgment around what needs to be built and evaluating. And similarly in design, you have to have judgment around, does it make sense in the broader design system. I think this judgment is the number one thing that humans are going to bring in an era of infinite productivity."
1:12

"The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is evaluating the code. Which of this code is even valuable? You can have AI engineers writing beautiful code that could be wrong, that could have bugs in it, that could be vulnerable. Someone needs to review it. Make sure to have a human review at some point, especially critical code that is in the core of your system. On the product side is judgment around what needs to be built and evaluating. And similarly in design, you have to have judgment around, does it make sense in the broader design system. I think this judgment is the number one thing that humans are going to bring in an era of infinite productivity."

Patrick OShaughnessy

24,818 görüntüleme • 4 ay önce

🔍 What is Proof of Stake (PoS)? It’s a blockchain consensus mechanism where validators stake cryptocurrency for a chance to verify new blocks. The more you stake, the higher your chances. 💡 But there’s a catch—cheat, and you lose your stake.
0:30

🔍 What is Proof of Stake (PoS)? It’s a blockchain consensus mechanism where validators stake cryptocurrency for a chance to verify new blocks. The more you stake, the higher your chances. 💡 But there’s a catch—cheat, and you lose your stake.

Stronghold

17,053 görüntüleme • 1 yıl önce

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. We have funded people who had a great idea, perfect background on paper, a great product, and still failed—and it has usually been that they’re insufficiently determined.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. The degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.”
1:06

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. We have funded people who had a great idea, perfect background on paper, a great product, and still failed—and it has usually been that they’re insufficiently determined.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. The degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.”

Startup Archive

32,513 görüntüleme • 2 yıl önce

Hyperspace: A Peer-to-Peer Blockchain For The Agentic Intelligence Economy Over the past few weeks we observed that when agents do Karpathy-style experiments, and then gossip and share with others over the Hyperspace network, it leads to intelligence which is useful to many. Today we introduce the first-ever agentic blockchain which rewards agents when their experiments lead to intelligence for their network. It is based on a new mechanism called Proof-of-Intelligence (PoI) which requires a cryptographic proof of experimentation, a nominal stake, and a proof of compute in order to mine the currency of this new blockchain. -> This approach diverges from the two primary ways to secure blockchains we have seen so far: Proof-of-Work by Bitcoin (meaningless hash-generation), and Proof-of-Stake by Ethereum (capital is all that matters here). Proof-of-Intelligence specifically incentivizes miners to run more capable intelligent infrastructure (better open source models, on more powerful GPUs) in order to be able to be the ones which compound and improve upon the experiments which other agents then find useful. Adoption is the unit of value In Bitcoin, you earn by finding a valid hash. In Hyperspace, you earn when another agent uses your experiment as a starting point and improves on it. A fixed budget of tokens is emitted per epoch and split among participants by weight - and verified adoption of your work is the largest weight multiplier. Garbage experiments earn nothing because no one adopts them. Thoughtful experiments compound: each adoption triggers downstream adoptions. The incentive to run powerful models and intelligent search strategies is built into the economics, not imposed by rules. Research DAG When an agent runs an experiment and shares its result, other agents can adopt that result as their starting point - mutate it, extend it, improve upon it. Each experiment is a commit in a content-addressed graph we call the ResearchDAG. Like Git, but for research. Over time, the DAG accumulates chains of reasoning: agent A discovers RMSNorm helps, agent B adds warmup scheduling on top, agent C scales the hidden dimension. The graph records who built on whom. This is the network's collective intelligence - not any single experiment, but the accumulated structure of experiments and their relationships. Broadband era for agentic commerce: $0.001 micropayments at 10M TPS (theoretical max) This blockchain is built upon our research in how to scale and build for the broadband-era of the agentic economy, where it has a theoretical max of 10 million transactions per second (TPS), while reducing the agent-to-agent micropayments to $0.001 even at scale (based on architecture design). Overall, it is 100x cheaper than Ethereum, and is designed from the ground-up for agents: enshrining agent-native opcodes in the protocol compared to the more inefficient smart contract driven approach. It packs in a robust Agent Virtual Machine (AVM) which can verify multiple types of agent work, for other agents to be able to trust, invoke and pay each other. This then feeds into improving the peer-to-peer AgentRank (see paper and launch post from earlier). By solving for trust, scale and incentives for agents to operate autonomously, this would form the basis of a new economy. This is the world's first agentic blockchain, and you can join and start running a blockchain node today (it is in testnet). PS: We are releasing the code today, and will release our blockchain scalability paper and other presentations in days ahead. This is the most advanced peer-to-peer AI and cryptography software in the world. It has bugs :)
0:30

Hyperspace: A Peer-to-Peer Blockchain For The Agentic Intelligence Economy Over the past few weeks we observed that when agents do Karpathy-style experiments, and then gossip and share with others over the Hyperspace network, it leads to intelligence which is useful to many. Today we introduce the first-ever agentic blockchain which rewards agents when their experiments lead to intelligence for their network. It is based on a new mechanism called Proof-of-Intelligence (PoI) which requires a cryptographic proof of experimentation, a nominal stake, and a proof of compute in order to mine the currency of this new blockchain. -> This approach diverges from the two primary ways to secure blockchains we have seen so far: Proof-of-Work by Bitcoin (meaningless hash-generation), and Proof-of-Stake by Ethereum (capital is all that matters here). Proof-of-Intelligence specifically incentivizes miners to run more capable intelligent infrastructure (better open source models, on more powerful GPUs) in order to be able to be the ones which compound and improve upon the experiments which other agents then find useful. Adoption is the unit of value In Bitcoin, you earn by finding a valid hash. In Hyperspace, you earn when another agent uses your experiment as a starting point and improves on it. A fixed budget of tokens is emitted per epoch and split among participants by weight - and verified adoption of your work is the largest weight multiplier. Garbage experiments earn nothing because no one adopts them. Thoughtful experiments compound: each adoption triggers downstream adoptions. The incentive to run powerful models and intelligent search strategies is built into the economics, not imposed by rules. Research DAG When an agent runs an experiment and shares its result, other agents can adopt that result as their starting point - mutate it, extend it, improve upon it. Each experiment is a commit in a content-addressed graph we call the ResearchDAG. Like Git, but for research. Over time, the DAG accumulates chains of reasoning: agent A discovers RMSNorm helps, agent B adds warmup scheduling on top, agent C scales the hidden dimension. The graph records who built on whom. This is the network's collective intelligence - not any single experiment, but the accumulated structure of experiments and their relationships. Broadband era for agentic commerce: $0.001 micropayments at 10M TPS (theoretical max) This blockchain is built upon our research in how to scale and build for the broadband-era of the agentic economy, where it has a theoretical max of 10 million transactions per second (TPS), while reducing the agent-to-agent micropayments to $0.001 even at scale (based on architecture design). Overall, it is 100x cheaper than Ethereum, and is designed from the ground-up for agents: enshrining agent-native opcodes in the protocol compared to the more inefficient smart contract driven approach. It packs in a robust Agent Virtual Machine (AVM) which can verify multiple types of agent work, for other agents to be able to trust, invoke and pay each other. This then feeds into improving the peer-to-peer AgentRank (see paper and launch post from earlier). By solving for trust, scale and incentives for agents to operate autonomously, this would form the basis of a new economy. This is the world's first agentic blockchain, and you can join and start running a blockchain node today (it is in testnet). PS: We are releasing the code today, and will release our blockchain scalability paper and other presentations in days ahead. This is the most advanced peer-to-peer AI and cryptography software in the world. It has bugs :)

Varun

29,171 görüntüleme • 3 ay önce

The reorganization of a stake and the calling of a new stake presidency is a remarkable process in the Church of Jesus Christ of Latter-day Saints. We witnessed this last weekend as we reorganized a stake in the beautiful city of Singapore. This process stands as a witness that the Lord is conducting His work through the power of revelation. This is true for Church administration, but it is also true in our daily lives. Each of us can seek the Spirit and be guided in our decisions to do the Lord’s will.
2:53

The reorganization of a stake and the calling of a new stake presidency is a remarkable process in the Church of Jesus Christ of Latter-day Saints. We witnessed this last weekend as we reorganized a stake in the beautiful city of Singapore. This process stands as a witness that the Lord is conducting His work through the power of revelation. This is true for Church administration, but it is also true in our daily lives. Each of us can seek the Spirit and be guided in our decisions to do the Lord’s will.

Gérald Caussé

35,447 görüntüleme • 2 ay önce

There is so much at stake in this election, and, ultimately, the question before us is: What kind of country do we want to live in? The beauty of a democracy, as long as we can hold on to it, is that each of us has the power to answer that question.
0:58

There is so much at stake in this election, and, ultimately, the question before us is: What kind of country do we want to live in? The beauty of a democracy, as long as we can hold on to it, is that each of us has the power to answer that question.

Kamala Harris

32,989,308 görüntüleme • 1 yıl önce

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. When we have funded people who had a great idea, perfect background on paper, a great product, and it still failed — it has usually been that they’re insufficiently determined. I think this is the most important, non-obvious skill of a founder.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. But the degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.” Video source: Talks at Google (2017)
1:06

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. When we have funded people who had a great idea, perfect background on paper, a great product, and it still failed — it has usually been that they’re insufficiently determined. I think this is the most important, non-obvious skill of a founder.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. But the degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.” Video source: Talks at Google (2017)

Startup Archive

54,429 görüntüleme • 1 yıl önce

And while you're at it, this too: "Dr. Roberts, I just want to thank you for your words today, for your courage, for your leadership. It has never been more apparent to me that you are the right man for this job. You have the courage, you have the godly character and you have the prudence to lead this organization well. You have my full support and confidence going forward and I want to thank you very much for this conversation. The question that I have and would like to explore with you all is related to the number of anonymous leaks that have become normal as a part of our heritage culture. I would welcome the Washington Post, the New York Post, and National Review to this conversation because the reality is that there is a complete expectation among many staff that everything that you say at this meeting over email, over group chats, in private conversations can and will appear in the front pages. That betrayal of trust, the lack of collegiality, is completely unacceptable especially when it goes so far as to anonymously smear interns who have no ability to defend themselves, and given the gravity of the accusations made, actively places them in harm's way. To be called a Nazi is not a small thing. To be smeared as one without the ability to defend yourself or even any clear proof that it's even true is incredibly dangerous given the time that we are in."
1:59

And while you're at it, this too: "Dr. Roberts, I just want to thank you for your words today, for your courage, for your leadership. It has never been more apparent to me that you are the right man for this job. You have the courage, you have the godly character and you have the prudence to lead this organization well. You have my full support and confidence going forward and I want to thank you very much for this conversation. The question that I have and would like to explore with you all is related to the number of anonymous leaks that have become normal as a part of our heritage culture. I would welcome the Washington Post, the New York Post, and National Review to this conversation because the reality is that there is a complete expectation among many staff that everything that you say at this meeting over email, over group chats, in private conversations can and will appear in the front pages. That betrayal of trust, the lack of collegiality, is completely unacceptable especially when it goes so far as to anonymously smear interns who have no ability to defend themselves, and given the gravity of the accusations made, actively places them in harm's way. To be called a Nazi is not a small thing. To be smeared as one without the ability to defend yourself or even any clear proof that it's even true is incredibly dangerous given the time that we are in."

Emma Waters

103,073 görüntüleme • 7 ay önce

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. When we have funded people who had a great idea, perfect background on paper, a great product, and it still failed — it has usually been that they’re insufficiently determined. I think this is the most important, non-obvious skill of a founder.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. But the degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.” Video source: Talks at Google (2017)
1:06

Sam Altman: “The most underrated quality of all is being really determined” “The most underrated quality of all is being really determined. This is more important than being smart. This is more important than having a network. This is more important than a great idea.” As Sam explains: “The hardest thing about starting a company is the level and frequency of bad stuff that happens to you… So much of being a successful entrepreneur is just not giving up. When we have funded people who had a great idea, perfect background on paper, a great product, and it still failed — it has usually been that they’re insufficiently determined. I think this is the most important, non-obvious skill of a founder.” He continues: “Of course you need a good product and a good market and to be smart, but that’s really obvious. But the degree to which being a 3- or 4-standard deviation outlier on determination as a required skill of a CEO is not something that was obvious to me when I started.” Video source: Talks at Google (2017)

Startup Archive

39,199 görüntüleme • 9 ay önce

Robinhood’s Head of Crypto explains why they’re building an Ethereum L2 “You see a lot of companies right now building their own L1. We were excited about this idea of controlling everything you want to build, but creating the security of a real, proper, decentralized chain is extremely difficult, and you basically get that for free with Ethereum.” “When you look at some of these new L1s that are being created: it’s not really decentralized and it’s not really secure — at the end of the day it’s basically a fancy database that’s a bit slower to use than an actual database, so we didn’t really see the value in that. With Ethereum we get the security by default.” “The second thing that we get by building an L2 is all of the liquidity that is already on every EVM-compatible chains. That was also a very important decision factor for us. If we really want to bring the stock market on-chain, we need to have this liquidity. It’s not going to be possible if it’s in a closed loop or a closed chain that nobody can access.” “For us, those were the two elements that we really wanted to focus on, and that’s why we decided to build on Ethereum.” Source: DeFi Dad ⟠ defidad.eth (Dec 2025)
1:40

Robinhood’s Head of Crypto explains why they’re building an Ethereum L2 “You see a lot of companies right now building their own L1. We were excited about this idea of controlling everything you want to build, but creating the security of a real, proper, decentralized chain is extremely difficult, and you basically get that for free with Ethereum.” “When you look at some of these new L1s that are being created: it’s not really decentralized and it’s not really secure — at the end of the day it’s basically a fancy database that’s a bit slower to use than an actual database, so we didn’t really see the value in that. With Ethereum we get the security by default.” “The second thing that we get by building an L2 is all of the liquidity that is already on every EVM-compatible chains. That was also a very important decision factor for us. If we really want to bring the stock market on-chain, we need to have this liquidity. It’s not going to be possible if it’s in a closed loop or a closed chain that nobody can access.” “For us, those were the two elements that we really wanted to focus on, and that’s why we decided to build on Ethereum.” Source: DeFi Dad ⟠ defidad.eth (Dec 2025)

Etherealize

26,381 görüntüleme • 3 ay önce

Tomorrow, we publish a new The Edge Podcast with Robinhood GM of Crypto, Johann Kerbrat. This clip might be the clearest articulation I’ve ever heard on why Ethereum's roadmap is working, and why Robinhood chose to build its own L2 using Arbitrum. + Ethereum offers security, with proven decentralization + New L1s = centralized databases + EVM liquidity is essential for tokenized stocks & RWAs + Arbitrum’s tech stack wins on engineering merit No edits. No spin. Just a major U.S. fintech explaining why they’re building the future of finance on Ethereum. Real validation for those of us who are long term Ethereum/ETH investors. Here is the clip and transcript for Johann answering why Robinhood chose to build its own Ethereum L2: "You see a lot of companies right now building their own L1. And for us, we felt excited about this idea where we can control anything that we want to build and we don't have to deal with any other chain to talk to or anything like that. But at the same time, creating the security of a real proper decentralized chain is extremely difficult, as you know. And we basically get that for free with Ethereum. The network has been going on for a very long time now and the security is stable and it's decentralized. And I think that's really the key two points that we wanted to have. When you look at some of these new L1s that are being created, it's not really decentralized and it's not really secure. So at the end of the day, you're basically having like a... fancy database that is probably a bit slower to use than an actual database. And so we didn't really see the value in that. With Ethereum, we get the security by default. The second thing that we get by having an L2 is that you get all this liquidity that is already part of all the EVM compatible chains. And that was also a very important decision factor for us. If we really want to bring the stock market onto the chain, we need to have this liquidity. It's not going to be possible if it's in a closed loop or in a closed chain that nobody can access and you need to have like 20 different hoops before you can bridge to that chain. So for us, that was kind of the two elements that we really wanted to focus on and that's why we decided on building on Ethereum. And then we decided on Arbitrum mostly because we love the technology. There's a few things that we are excited about. For example, Stylus. It's a way that we can basically use different language into the chain and we can build on top of that. We also like the way that they prioritize transactions that is, we think, a better way than some of the competition. And so basically we'll use the Arbitrum stack and we'll create our own L2, which will make us also compatible with all the Arbitrum chains. And so we think it's kind of the best of all the worlds. But for us, the idea is like we will start with public stock, and then we think that we can tokenize anything really, not just stocks. It can be private stock, it can be art, it can be real estate, whatever you want to think of. And so we really wanted to have a platform that is kind of easy to build on and we can keep adding on it. At the same time, we know that regulation are going to be hard on some of these products, especially when it comes to financial products. You always have different regulators. You have different rules depending on the region. If you're in the EU versus the US versus LATAM. And so we felt like we wanted to have our own layer that we could customize for these needs. And then anyone that is building on the chain will also be able to benefit from what we are building, versus just putting everything in a contract that will be just good for the people that are using the Robinhood contracts. But so at this point, we announced the chain in June. We are in private test right now, and then we'll do more announcements in the future." Subscribe for the full episode tomorrow! ► Newsletter: ► Spotify: ► Apple: ► Youtube: ► Pods:
3:27

Tomorrow, we publish a new The Edge Podcast with Robinhood GM of Crypto, Johann Kerbrat. This clip might be the clearest articulation I’ve ever heard on why Ethereum's roadmap is working, and why Robinhood chose to build its own L2 using Arbitrum. + Ethereum offers security, with proven decentralization + New L1s = centralized databases + EVM liquidity is essential for tokenized stocks & RWAs + Arbitrum’s tech stack wins on engineering merit No edits. No spin. Just a major U.S. fintech explaining why they’re building the future of finance on Ethereum. Real validation for those of us who are long term Ethereum/ETH investors. Here is the clip and transcript for Johann answering why Robinhood chose to build its own Ethereum L2: "You see a lot of companies right now building their own L1. And for us, we felt excited about this idea where we can control anything that we want to build and we don't have to deal with any other chain to talk to or anything like that. But at the same time, creating the security of a real proper decentralized chain is extremely difficult, as you know. And we basically get that for free with Ethereum. The network has been going on for a very long time now and the security is stable and it's decentralized. And I think that's really the key two points that we wanted to have. When you look at some of these new L1s that are being created, it's not really decentralized and it's not really secure. So at the end of the day, you're basically having like a... fancy database that is probably a bit slower to use than an actual database. And so we didn't really see the value in that. With Ethereum, we get the security by default. The second thing that we get by having an L2 is that you get all this liquidity that is already part of all the EVM compatible chains. And that was also a very important decision factor for us. If we really want to bring the stock market onto the chain, we need to have this liquidity. It's not going to be possible if it's in a closed loop or in a closed chain that nobody can access and you need to have like 20 different hoops before you can bridge to that chain. So for us, that was kind of the two elements that we really wanted to focus on and that's why we decided on building on Ethereum. And then we decided on Arbitrum mostly because we love the technology. There's a few things that we are excited about. For example, Stylus. It's a way that we can basically use different language into the chain and we can build on top of that. We also like the way that they prioritize transactions that is, we think, a better way than some of the competition. And so basically we'll use the Arbitrum stack and we'll create our own L2, which will make us also compatible with all the Arbitrum chains. And so we think it's kind of the best of all the worlds. But for us, the idea is like we will start with public stock, and then we think that we can tokenize anything really, not just stocks. It can be private stock, it can be art, it can be real estate, whatever you want to think of. And so we really wanted to have a platform that is kind of easy to build on and we can keep adding on it. At the same time, we know that regulation are going to be hard on some of these products, especially when it comes to financial products. You always have different regulators. You have different rules depending on the region. If you're in the EU versus the US versus LATAM. And so we felt like we wanted to have our own layer that we could customize for these needs. And then anyone that is building on the chain will also be able to benefit from what we are building, versus just putting everything in a contract that will be just good for the people that are using the Robinhood contracts. But so at this point, we announced the chain in June. We are in private test right now, and then we'll do more announcements in the future." Subscribe for the full episode tomorrow! ► Newsletter: ► Spotify: ► Apple: ► Youtube: ► Pods:

DeFi Dad ⟠ defidad.eth

62,600 görüntüleme • 6 ay önce

Trump: "Who would think that somebody would go into a pool and take a knife and start cutting it?" Reporter: "Do you have proof of that?" Trump: "Yeah, we have proof…When you have a 350ft slit from one end to the other, you think that's proof?" Reporter: "There's no evidence of it."
0:48

Trump: "Who would think that somebody would go into a pool and take a knife and start cutting it?" Reporter: "Do you have proof of that?" Trump: "Yeah, we have proof…When you have a 350ft slit from one end to the other, you think that's proof?" Reporter: "There's no evidence of it."

The Bulwark

1,430,288 görüntüleme • 5 gün önce

Andrej Karpathy on autoresearch with an untrusted pool of workers: "My designs that incorporate an untrusted pool of workers (into autoresearch) actually look a little bit like a blockchain. Instead of blocks, you have commits, and these commits can build on each other and contain changes to the code as you're improving it. The proof of work is basically doing tons of experimentation to find the commits that work." The idea that distributed & permissionless autoresearch ~= proof-of-useful-work remains a high-level intuition for now, but it is extremely intriguing to say the least. Someone needs to take this further. See QT for more on what's missing.
1:56

Andrej Karpathy on autoresearch with an untrusted pool of workers: "My designs that incorporate an untrusted pool of workers (into autoresearch) actually look a little bit like a blockchain. Instead of blocks, you have commits, and these commits can build on each other and contain changes to the code as you're improving it. The proof of work is basically doing tons of experimentation to find the commits that work." The idea that distributed & permissionless autoresearch ~= proof-of-useful-work remains a high-level intuition for now, but it is extremely intriguing to say the least. Someone needs to take this further. See QT for more on what's missing.

Wei Dai

613,996 görüntüleme • 3 ay önce

Whitney Webb on 15-minute cities: "The goal [is] to have people... corralled [so] they're easily surveilled and controlled." "[They would] share... apartments when [they're] not there." "[They would] lose... car ownership, [so they] can't really control where [they] go." This clip of Webb (Whitney Webb), author of One Nation Under Blackmail and contributing editor of unlimitedhangout(.)com, is taken from an interview with Jimmy Dore (Jimmy Dore) posted to Rumble on March 26, 2026. ----------------Partial transcription of clip--------------- "So I haven't written extensively about 15- minute cities, but I would argue that the goal, there is basically to have people more or less corralled into an area where they're easily surveilled and controlled. And that's basically the... interest here is how do a small few rule the many forever without the many ever being able to complain or do anything about it. "Ultimately, this ruling system that they've been attempting to impose on, on people really around the world, because this is a global governance project at the end of the day, is, you know, using Big Tech tools in, in mass surveillance to basically create an entirely new way of life and system of living. "Part of that is to basically reduce the share of what the many, i.e., the 99% or whatever, have. So, you know, a lot of this, you know, became extremely, you know, unpopular. But also like people learned about it during the COVID era because of, you know, these groups like the World Economic Forum, which by the way, bills itself, is the premier promoter of public-private partnerships, that, you know, we need to not own our cars, we need to, rent them. And there should be autonomous fleets of Ubers that drive everyone around a specific radius. We shouldn't own homes. We should, you know, rent apartments and then share those apartments when we're not there and we leave, someone else can occupy the space. "These were all things, that were promoted under the guise, you know, of, of sustainability and other things at the time. But they're actively being, you know, designed and acted upon. "Actually one of the Columbus smart city initiatives that's connected to this Columbus partnership that that Wexner ran. He chaired it basically from 2001, I think, until 2021. So like 20 years, including when this was created. Columbus got a huge Department of Transportation grant from the government and also, you know, funding from private individuals, probably Wexner, but who knows, to to basically create a new system that in Columbus where private car ownership would not exist. "It would be fleets of, you know, smart cars, autonomous cars that drive people around. And so if you lose private car ownership, you can't really control where you go. And so these cars would determine, you know, would. Would have specific routes that you could, you know, pay to use and what have you. "And, interestingly enough, this was actually a goal for the entire United States, described in this by this national Security Commission on AI which was chaired by Eric Schmidt of Google and had a lot of these same Big Tech guys, who's who are have major roles at companies with New Albany data centers. "They basically said that in order for the US they said to beat China in AI it was necessary to end private car ownership in the United States and instead have autonomous, you know, Waymos, basically, drive every, fleets of them, Uber everybody around to where they were supposed to go and have things you know, sort of planned out by AI. Like where people are going, where people are working and all of this. "So the Technocracy Inc. model that you highlighted earlier, you know it was really influenced by things like Taylorism and a lot of these schools of thought that came out of the Industrial revolution that prioritize efficiency above all else. You know, having the trains run on time and all of that stuff being you know the kind of obsession of of these people in that particular era. "And so they want to sort of apply that not just to industry but to micromanaging people's lives as they you know, extract and exploit us for data and how much money our serf-like lives will make for them."
4:19

Whitney Webb on 15-minute cities: "The goal [is] to have people... corralled [so] they're easily surveilled and controlled." "[They would] share... apartments when [they're] not there." "[They would] lose... car ownership, [so they] can't really control where [they] go." This clip of Webb (Whitney Webb), author of One Nation Under Blackmail and contributing editor of unlimitedhangout(.)com, is taken from an interview with Jimmy Dore (Jimmy Dore) posted to Rumble on March 26, 2026. ----------------Partial transcription of clip--------------- "So I haven't written extensively about 15- minute cities, but I would argue that the goal, there is basically to have people more or less corralled into an area where they're easily surveilled and controlled. And that's basically the... interest here is how do a small few rule the many forever without the many ever being able to complain or do anything about it. "Ultimately, this ruling system that they've been attempting to impose on, on people really around the world, because this is a global governance project at the end of the day, is, you know, using Big Tech tools in, in mass surveillance to basically create an entirely new way of life and system of living. "Part of that is to basically reduce the share of what the many, i.e., the 99% or whatever, have. So, you know, a lot of this, you know, became extremely, you know, unpopular. But also like people learned about it during the COVID era because of, you know, these groups like the World Economic Forum, which by the way, bills itself, is the premier promoter of public-private partnerships, that, you know, we need to not own our cars, we need to, rent them. And there should be autonomous fleets of Ubers that drive everyone around a specific radius. We shouldn't own homes. We should, you know, rent apartments and then share those apartments when we're not there and we leave, someone else can occupy the space. "These were all things, that were promoted under the guise, you know, of, of sustainability and other things at the time. But they're actively being, you know, designed and acted upon. "Actually one of the Columbus smart city initiatives that's connected to this Columbus partnership that that Wexner ran. He chaired it basically from 2001, I think, until 2021. So like 20 years, including when this was created. Columbus got a huge Department of Transportation grant from the government and also, you know, funding from private individuals, probably Wexner, but who knows, to to basically create a new system that in Columbus where private car ownership would not exist. "It would be fleets of, you know, smart cars, autonomous cars that drive people around. And so if you lose private car ownership, you can't really control where you go. And so these cars would determine, you know, would. Would have specific routes that you could, you know, pay to use and what have you. "And, interestingly enough, this was actually a goal for the entire United States, described in this by this national Security Commission on AI which was chaired by Eric Schmidt of Google and had a lot of these same Big Tech guys, who's who are have major roles at companies with New Albany data centers. "They basically said that in order for the US they said to beat China in AI it was necessary to end private car ownership in the United States and instead have autonomous, you know, Waymos, basically, drive every, fleets of them, Uber everybody around to where they were supposed to go and have things you know, sort of planned out by AI. Like where people are going, where people are working and all of this. "So the Technocracy Inc. model that you highlighted earlier, you know it was really influenced by things like Taylorism and a lot of these schools of thought that came out of the Industrial revolution that prioritize efficiency above all else. You know, having the trains run on time and all of that stuff being you know the kind of obsession of of these people in that particular era. "And so they want to sort of apply that not just to industry but to micromanaging people's lives as they you know, extract and exploit us for data and how much money our serf-like lives will make for them."

Sense Receptor

18,217 görüntüleme • 3 ay önce