Alex Wittenberg

For example, FWB is tokenized. Membership is limited to tokenholders above a certain threshold. Events are token-gated. Content is token-gated. Life in FWB revolves around the token.

Two significant innovations underpin Bitcoin: a technological one, namely the public and distributed ledger technology called “blockchain,” which securely maintains an immutable record of all user transactions, and an organizational innovation, namely, the existence of an open network of users with special roles and rights called “miners”, who lend... See more

If the market cap is 10% of the FDV and the tokens are all released in the next year, the project needs to grow 10x, or 1000%, in a year just to maintain its current price. 

Americans tend to use new productivity and technology to buy a better life rather than to enjoy more downtime in inferior conditions. And when material concerns are mostly met, Americans fixate on their status and class, and that of their children, and work tirelessly to preserve and grow it.

A year later Chris published a post about his love-hate relationship with Twitter, which took the ideology a step further:

It is risky for protocols to only have their own governance tokens in their treasury. If Uniswap has only UNI in its treasury and the token price falls by 40%, its balance sheet would also shrink by 40%. This is dangerous because it occurs at a time when the protocol needs to ramp up spending, whether it is LP subsidies, token buybacks, or core... See more

Believing that everything will be better if only we gather more information commits us to endless searching and casting about, to one more swipe of the screen in the hope that the elusive bit of data, which will make everything clear, will suddenly present itself. From one angle, this is just another symptom of reducing our experience of the world... See more

Maybe it is possible to bring the spirit of such silences to bear on exchanges that unfold on social media, but it seems that we are then working against the grain of the medium, seeking a fullness of experience in the absence of the materiality that sustains it. But perhaps that is all that we can do. To remember, in its absence, the silence that... See more