the endgame of all blockchains is investment DAO almost no one will make it

Hey crypto, You want it done right, but you want it now. You want to be strong, but want no scars. You want freedom, but you need to be supported. This is not the way of perpetual things.

So you think there are too many crypto assets to keep track of... Here are the 15,000+ marketing technology companies of 2025. Each dot is a company logo. https://t.co/GUBIqIe6oj

Enjoyed finding this instant classic in old bookmarks. Mandatory reading. @mZargham @notscottmoore @stephensonhmatt https://t.co/KcHvRMAcni

[ABOUT] When we are not debunking bad ideas we're building an eternal investment DAO; the end game of crypto. Why bother debunking bad crypto ideas? Because nothing meaningful in digital assets will happen until we stop the bullshit.

One important rule of supply elasticity is that over time ALL SUPPLY BECOMES MORE ELASTIC because of business innovation and technology. After a few decades $1 could produce 100,000 toothpicks.

Supply works like this: providing a good tends to get much cheaper (per unit) at scale. And how much the price changes at each increase of supply is the elasticity. Producing toothpicks is very elastic: the first toothpick costs $1 to make And next 10,000 toothpicks? nearly zero

The problem with this pitch is that the proponents of this vision are very excitable about chapter two in any Econ 101 book (Demand), but seemed to get bored by chapter three: Supply side

So EIP 1559 got people excited about this idea: as demand increases, we can charge congestion fees, and that serves a dual purpose of making the network pricing more reliable, and also creates a profit.

For that we need to drill down one level on the actual ETH 1559 mechanism.

OL is here to tell you ETH deflation from 1559 burns will likely not happen meaningfully again. Because the model depends on STATIC supply of blocks/txs/storage Which requires something impossible: Winning the blockchain race, and being a slow computer

Yes there were moments that the network became “deflationary” (about six months in 2023, another six around 2024). However, everyone was warned that this could not continue at steady state. And in fact it did not https://t.co/MYhZQXAEKz

It was thrilling when 1559 was initially in effect; there were moments where the net issuance was negative!

The reason in EIP 1559 to not pay the node operators is solid: there are no outsized gains owed to them The increase in demand for a elevator ride is not from their effort Otherwise you incentivize the node operators to slow down transaction processing to create more congestion!

Previously we described blockchain transactions as a rooftop bar, with an elevator fee. When the line gets impossibly long for our elevator to our playground, instead of paying the “surge” pricing to the node operators, it gets sent to all the members of the bar (token holders).

Ethereum 1559 is actually quite ingenious. It solves a congestion problem on the network with the equivalent of congestion pricing.

What was exciting in Ethereum when EIP 1559 was described was that this might not always be the case.

Conclusion: killing the TxFee Meta: Ultrasound Money is Dumb It's brave to say: ETH is a stock, and it produces dividends It's outrageous to say so when it will lose money -- forever and criminal to do so when you're listing a product on nasdaq 🧵 https://t.co/f2bDP6HIHo

[ABOUT] When we're not calling out governments, and broken commons, we're building an eternal investment DAO for everything that comes next; AI++

Enforcement of intellectual property is a public good. If governments aren't filling the gap with unfunded public goods, it's unclear what governments are for. This I learned from Bitcoin.

The machine learned from you. The question is whether you’ll settle for that — or ask what you’re owed.