Devin Baker

The argument in favor of a BSR is similar to the US’s rationale for stockpiling the largest amount of gold vs any other nation-state; it allows the US to assert financial supremacy over every other nation in the digital and physical realms. If Bitcoin is the hardest money ever known, then the strongest government fiat currency is the one whose cent... See more

I wanted the brand to have my face. I wanted the product to convey the culture, life, lifestyle, dignity of work. We are a listed company, and I wanted to manufacture a product with dignity. I wanted a profit with dignity. Because the press all talk about the moral ethics of profit. Why can’t we have a dignified profit then?

Would you buy something ... See more

I highly recommend reading the book, but wanted to take a stab at proposing some inflections that exist within crypto that have been top of mind for me.

The new existence of low cost global permissionless payment rails. For the first time you can now send or accept money from anyone on earth for fractions of a penny. With the improving UX of crypto ... See more

Everyone was happy to buy 18-24-36 months ago, when the horizon was cloudless and asset prices were sky-high. Now, with heretofore unimaginable risks on the table and priced in, it’s appropriate to sniff around for bargains: the babies that are being thrown out with the bath water. We’re on the case.

The key insight here is that the "regular" experience is a form of capital – social capital , to be precise. It's valuable to both the restaurant (which benefits from repeat business and word-of-mouth marketing) and the customer (who enjoys better service and status). However, this capital has traditionally been illiquid and non-transferable. You c... See more

The biggest misconception to dispel is that L2s are a magically profitable design vs. L1s because they don’t have to pay inflation. If you’ve read the article up to here, this should be clear to you why this is incorrect. As we have established, PoS issuance is not a “cost to the network.” It isn’t even a net expense to tokenholders in aggregate.

This may be the first time we see a shift in public perspective where automated accounts and bots are not seen as bad actors on social media, but community leaders and influencers.

Gold historically was the underlying monetary system until recently. Modern tech is by far, more important than gold now, and isn’t essential currently for a reserve system, as tech is much more important to underpin an economic system. Institutions and govts will take tech over gold now .

So if I step back, a good consumer token model in my mind:

• Releases a token early, recognizes the end state is entirely unclear, and maintains optionality on how it’ll evolve in future


• Has mechanics to distribute tokens over a long time frame to users / participants that are creating value


• Captures value from the speculation layer and funnels it into

... See more