The Network State. Author of @TheNetworkState. Previously co-founder of @CoinCenter. @a16z partner. Princeton '05. Immigrant.
Jan 28, 2022 • 4 tweets • 1 min read
In 2021, the Bitcoin network's take rate from transaction fees was significantly (over 20x!) lower than that of Visa.
Even if you include all costs to run and secure the Bitcoin network (namely, total miner revenue):
The Visa network extracts almost twice as much revenue compared to Bitcoin.
Dec 21, 2021 • 28 tweets • 5 min read
1/ Another long thread on web3... this time, what does web3 hope to solve?
Below, a thread on 1. the importance of decentralization and 2. a simple mental model to quantify the value it provides.
And, in here somewhere, a few of my musings on... what we mean by ownership...
2/ Before jumping in, I think it's important to clarify that I strongly believe that crypto != web3.
Crypto is a broad term that describes the many ecosystems & innovations developing on public blockchains. IMO, this is broad on purpose.
Nov 1, 2021 • 14 tweets • 3 min read
I've been thinking about the metaverse, web3, and our future—as our lives increasingly shift online, what changes about our consumption?
Below, a thread on consumption moving from the physical to the digital & why this shift could have a positive environmental impact 🧵 (1/14)
As a quick framework, I think of consumption in these three buckets:
