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Pinned Tweet
16 Jul 2024
gap that will not persist:
- quality of crypto tech and tools
- rarity of crypto integration
Most web development still doesn't include cash
wtf is the point
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BytesOfMan retweeted
May 11
If that's not a sign of local top, I don't know what is.
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May 2
in crypto, so much money is going into re-engineering legacy finance with extra complexity
still value here because legacy finance has both competence and regulatory capture problems
weird spot where crypto tech overhead is "worth it" for unrelated benefits
May 2
Crypto payments have a billion-dollar problem: once you send @USDC, there's no refund. No chargeback. No buyer protection. That’s why most real-world businesses still won’t accept it.
@circle just solved it.
The Refund Protocol - on-chain escrow, three refund paths (including gasless EIP-712), and automatic debt recovery when the escrow is empty. Non-custodial. No intermediary can steal funds. Enforced entirely by the smart contract.
I wrote a full technical deep-dive on @Arc House breaking down every piece - architecture, payment lifecycle, dispute resolution, the debt system, and a builder integration guide.
Also created 5 animated explainer videos covering each concept visually.
This is post 3 in my Arc House series. Post 1 covered CCTP. Post 2 covered App Kit. This one covers the missing piece: what happens after someone pays.
Refunds are the last primitive on-chain payments were missing.
Full post here:
community.arc.network/home/f…
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Apr 9
This is potentially true
But it's also why we won't learn the answer from any journalist
Apr 9
The reason I think it will be figured out this year is because AI is finally good enough to sift through the enormous quantities of data required. And there's only a few hundred people it could possibly be.
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Apr 8
Main takeaway from the Adam Back NYT fumble is that no one making these cases today was paying attention at any point from 2008-2015
New generation, new baseline
The culture tho has been quite static, especially for BTC
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Apr 6
crypto has mostly reinvented banks from first principles
exploits are unacceptable and will kill defi, we need circuit breakers on a chain level
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Mar 11
Lots of "ghost" behavior even on dominant chains like $BTC
for example, nLocktime is basically never used
it could support enforced hold periods by freezing coins until a certain date ... enhancing the standard narrative use case
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Mar 11
unfortunately nobody is actually using UTXO chains for interesting things, so older features, even powerful ones, are ignored for EVMs
narrative has evolved toward something like "using is bad"
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Mar 11
quality of most services is way down but you can get to-go margaritas at the airport now
bad money has its perqs
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Mar 10
serious malaise around crypto.
even industry vets feel like they have to apologize for involvement because of all the scams.
"That Which is Seen, and That Which is Not Seen"
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Mar 10
the vector is much more important than the data point, moreso in exponential systems
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Mar 10
The most visible consumer-facing impact of AI is turbocharged fraud in legacy systems
Crypto is still the best defense and the only serious contender in the fintech arms race
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Feb 12
Poor incentives engineered by bad policy caused the misguided crypto L2 fad
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Feb 12
Every ZIRP-era crypto gold rush was a bet that settlement on one chain or another would have some kind of secret sauce. You had to pick the "right" one, there would be network effects, etc
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Feb 12
All crypto does is re-implement human trade. There are many successful implementations.
The value comes from trade and reducing friction, not from holding and hoping
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