"today, a career is a collection of activities, a portfolio. DAOs are an amazing way for people to build this portfolio based on their participation in different communities."
DAOs can help reshape traditional career paths!
3/ Erikan from Audacity Fund
"people should be paid for their passion, their time, their creativity - so many creators are exploited and left empty handed while platforms and their investors are enriched. what's the value of time? DAOs can help people earn money for their time."
4/ such an inspiring conversation - here's to the next 10 years bringing us 10 billion DAOs!
5/ ok here's what's amazing about these conversations - i mentioned casually that if anyone was building a social graph and curation layer for DAOs to ping me, three projects in my DMs already!
i love this industry so much 🥰❤️🥰
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brad sherman just stated he believes it is more beneficial to society that people play the California lottery than invest in cryptocurrencies, ladies and gentlemen this is your elected representative
2/ now on to witness testimonies - Eva Su from the Congressional Research Service reminding everyone that bitcoin and ethereum are *not* securities, good start
she's focusing on securities regulation and potential changes to securities laws
kicking off with archegos capital and form 13-F issues and then extrapolating to crypto - this is nonsensical since exposure today is on-chain and fully collateralized?
she claims "dire risks" from forced liquidations in crypto (how?)
1/ the #Bitcoin network is a complex, dynamic ecosytem, and the latest changes to the distribution of the network are interesting, but not unpredecented
let's look at the data - here is how market share has evolved over the last three months
2/ total hash rate on the network fluctuates in response to a number of factors including the cost and availability of ASICs (capex), the cost and availability of power (opex), and the price of bitcoin
looking at the last six months, we've seen a lot of volatility in global hash
3/ the size and rate of this decrease is consistent with other previous drops. migratory mining has been a trend for the last 3-4 years!
long-term, hash rate will respond to these variables and seek jurisdictions where there is clear, consistent policy and ample renewable energy
2/ over the last 18 months, bitcoin has been increasingly financialized as an asset
our weekly digital asset fund flows report shows AUM in crypto products is nearly $50B, a sharp increase from $5B a year ago when PTJ first talked about bitcoin 😎
2/ our relationship w/ @compass_mining is driven by getting more individuals into mining bitcoin, and distributing global hash rate more broadly
we thought it would be fun, educational, and timely to create a Pleb Mining Council to help drive this effort
POWER TO THE PLEBS!
3/ since starting my self-mining experiment w Compass a few months ago, *so* many of you have reached out to me about your desire to learn more about mining
see my experience below, month 4 update coming shortly 👇
thanks to @CNBC for having me and @jillruthcarlson on. let me just drop some facts here so we can stop talking about elon & other trivial BS and focus on FACTS