Here's an interesting Wordle thought experiment. Imagine if you're playing Wordle and someone is looking over your shoulder. After you choose your guess, but before you see the result, they have to try to guess what the result will be. 1/3
If they get it right, you have to give them $10. Interestingly enough, the strategy that minimizes your money loss is the exact same strategy that optimizes your Wordle play. As a simple way to see why this makes sense. 2/3
Imagine if you guess "pygmy" first. That's obviously a terrible first Wordle choice and it also is very likely to lose you $10 because they will guess all misses and be likely to be right. 3/3
An easy way to see it: To win at Wordle, you need to make guesses that give you as much information as possible. To win $10, the person guessing your result has to guess what information you're going to get.

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More from @JoelKatz

Dec 25, 2021
Given the increasing popularity of issued assets on the XRP Ledger and the various airdrops going on, it's probably a good idea to remind people that the XRP Ledger permits issuers to "freeze" assets that they issue. 1/7
If you choose to hold an asset that someone has issued, unless they have disabled this feature, they can prevent you from transferring the asset (other than destroying it). They can also unfreeze after a freeze. 2/7
This is a powerful feature that permits the XRP Ledger to be used to represent and transfer legal obligations. Legal obligations can be frozen by actions outside the ledger (such as a court order) and the ledger needs some way to represent those external actions. 3/7
Read 7 tweets
Nov 18, 2021
Some things of value are (ideally) completely fungible like money, cryptocurrencies, and gold. Some are completely non-fungible like collectibles and houses. But there are also a lot of things that live in a semi-fungible middle like concert tickets and airplane tickets. 1/7
Blockchains started out with completely fungible assets and are now moving to cover non-fungible assets. But there's a huge market for assets in the squishy middle that is very poorly-served today. That is the market for digital rights. 2/7
Digital rights are rights to access particular content through some service that provides the content when needed. They include video games on services like Steam, books on systems like Kindle, and movies you've purchased on services like Netflix, Hulu, and Amazon Prime. 3/7
Read 7 tweets
Nov 2, 2021
Anyone have any opinions of AngelList's syndicate system? My primary concern is that nobody has any significant incentive to do any due diligence because the investment from the lead tends to be either not disclosed or negligible.
angellist.com/syndicates
If only syndicate members have skin in the game and everyone else is playing with house money, where's the incentive to make the deal fair to syndicate members? And who is incentivized to do the thorough due diligence needed for such early stage investment? Am I wrong?
If I'm investing $10,000 and there's a lead whose investing $500,000 at the same terms I am, then I don't worry too much about having to check out the deal in full detail. But for $10K, I can't afford to do that and if nobody else can either, then it seems like a bad deal.
Read 4 tweets
Sep 30, 2021
1/ ICYMI my keynote (or two) at #ApexDevSummit, I want to highlight the exciting updates coming to the #XRPL 👇
2/ Today, XRPL devs can take advantage of the 1st implementation of Federated Sidechains – a toolkit or test lab to build your own blockchain while still enjoying the benefits and functionality of the #XRPL Mainnet. @MonkScott dives in here: bit.ly/3AWFVkB
3/ Sidechains make it easy for developers to customize the chain for their use cases, such as private networks, securities trading, DeFi...
Read 9 tweets
Jun 7, 2021
Today I introduced my vision for adding federated sidechains to the XRP Ledger which means a lot of things but essentially that anyone who wants to, can run a sidechain to the XRPL. 1/6 dev.to/ripplexdev/a-v…
The “federator” is software that acts as a bridge between at least two instances of the XRP Ledger, i.e. the XRPL mainnet and one or more sidechains. 2/6
This concept would allow each sidechain to have its own ledger and transactions, as well as a federation system that allows XRP and issued tokens (BTC, fiat, anything really) to move from one chain to another. 3/6
Read 6 tweets

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