Devin Baker

Asking “What problems do blockchains solve?” is like asking “What problems does steel solve over, say, wood?” You can make a building or railway out of either. But steel gave us taller buildings, stronger railways, and more ambitious public works at the outset of the Industrial Revolution. With blockchains we can create networks that are fairer,... See more

On the precipice of this next transformation of the internet, DeepSeek’s release created a watershed moment for open source. It has also resurfaced the drawbacks of OSS, namely coordination challenges and a lack of clear business model. This is precisely where token-based market structures like Bittensor's emerge as a compelling solution. Token... See more

Japan exploited its advantages in producing autos, and the U.S. moved on to things in which it could achieve an advantage of its own. Isn’t that exactly the way things should work in a dynamic global economy?

As I asked in a memo in September, is it a good idea for governments to try to override the laws of economics in an effort to cause their... See more

Social Flywheel . Their virtual trust marketplace allows token holders to suggest trades to the agents, have their reputation evaluated as a source of insights, and grow their influence as their suggestions yield good results. Not only will having a good reputation score and ranking high on the leaderboard be socially desirable, but being able to... See more

“I was discussing bitcoin with an investor yesterday and he replied somewhat dismissively ‘It’s just like buying gold’. No, it’s like buying gold in 1000 B.C. 99% of the financial wealth has yet to address bitcoin. When they do, bitcoin is either going to be worth zero or [up orders of magnitude].”

If the L2 is an Ethereum rollup and posts transaction data to Ethereum blobs, the escape hatch is available for use unconditionally. Because the data behind each state update on the bridge is committed to on an Ethereum blob, rollup users are guaranteed the ability to prove the validity of their withdrawal and get it included utilizing an L1

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When AI demand forces real-world infrastructure investment, not just chips but everything around them, the broader business cycle follows. Semiconductor sales were the ignition. The next leg is second-order CapEx and real-world infrastructure buildout.

As that capital makes its way through the system, the broader cycle re-accelerates.

To me, this is... See more