Devin Baker

Back in 2013, there was a point where 48.3% of the coins hadn’t moved in over a year, even though the network was still relatively young. The resulting bull market unlocked a lot of those coins, and the ratio fell to 35.7% in 2014. This was a 12.6% reduction in the ratio.

In early 2016 after a long bitcoin bear market, 61.5% of coins had not moved... See more

Leaning into these features of property in the physical world will allow for a highly specialized and differentiated agent that isn’t possible today. For example, imagine J. R. R. Tolkien held a certain NFT agent and used it while writing The Hobbit . Let’s say you want to write your own fantasy novel and are seeking an agent to help you. The fact... See more

Hayek's article argues against the establishment of a Central Pricing Board (advocated by Lange) by highlighting the dynamic and organic nature of market price-fluctuations, and the benefits of this phenomenon.[4] He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent... See more

As with every type of network, there are two main areas of focus: the demand side and the supply side. Suffice it to say, the demand side is (almost) always the more difficult of the two to prove out. The simplest explanation for this is that the token incentive model maps easiest to the supply side. If you’re already driving a car or have some... See more

My opinion is that should the US dollar fail, or lose in a global conflict, there is a possible competitor to the dollar, but that this isn’t enough to supplant the dollar as the global reserve currency. At least not within the next decade, which is what matters to most reading this. The BRICS system doesn’t have the unique economic requirement,... See more

There’s one big difference here, though. While Ben sold Eater and Resy to centralized companies, that’s not an option for Blackbird. Instead, ownership of the network of restaurants will primarily go to the restaurants themselves as the company progressively decentralizes. “Overall, the restaurant industry should own roughly half of the network,”... See more

But you might respond—well, stablecoin growth might be exponential, maybe DeFi volumes are exponential, but they don’t accrue to ETH or SOL. The value doesn’t get captured by the chains.

To which I answer: you still don’t believe in the exponential.

Because the exponential’s answer is always the same: it doesn’t matter. This stuff is going to be so... See more

Given that your project isn’t for everyone, the goal isn’t for everyone to understand it. The goal is for people who might take action to understand it enough that they will take action. Every great brand that I know of has as the unspoken next line in their brief: “This might not be for you.”

Blackbird is the first app I’ve used that’s onchain but doesn’t feel like it is. It feels like a restaurant app. I use it to discover places to eat, and to earn loyalty for eating there. Starting today, I’ll be able to use it to pay my tab — automatically, without getting the check — using credit card, debit card, or Blackbird’s $FLY token.