Pete Cooling

Led Prod @Visa Crypto. Open source wallets, digital id at Linux @OpenWalletFdn. Building new networked tribe of tinkerers. Practical dreamer, NFA/Trust Yourself

[Pete Cooling @PeteCooling]

the world is ready to be tokenized and crypto as a technology is winning

[Pete Cooling @PeteCooling]

programmability is eating the world, starting with money finance and culture

[Pete Cooling @PeteCooling]

@fastfwd_eth for sure, new paradigm requires new methods of organization and cooperation 🙏

[Pete Cooling @PeteCooling]

there is an extraordinary change going on in the financial system

crypto is new, holistic, and integrated for everyone in the world to interact with unlike the existing system which is fragmented and exclusionary

[Pete Cooling @PeteCooling]

The first recorded millionaire in the U.S. was John Jacob Aster around 1800 (fur, opium)

The first recorded billionaire in the U.S. was John D. Rockefeller in 1916 (oil)

The first recorded trillionaire in the U.S. will be in the next couple decades (ai, crypto)

[Pete Cooling @PeteCooling]

"Powerful writing should take one side and stick to it tenaciously, ignoring the other even though it may have merit. Objective writing is impotent."

-Dee Hock

[Pete Cooling @PeteCooling]

if the global financial system was sound crypto would literally have no value

[Pete Cooling @PeteCooling]

the larger the company the more glorified the "doing of the doing" becomes

[Pete Cooling @PeteCooling]

@ryanberckmans one thing missing is standardization of the account structure. 4337, EOA, and native AA breaks unified account structure and therefore composability

[Pete Cooling @PeteCooling]

@jessepollak L1 - monolithic
L2 - scaling
L3 - apps

[Pete Cooling @PeteCooling]

it's time to start paying attention to defi again

[Erik Voorhees @ErikVoorhees]

Trustworthy stablecoins (USDT, USDC, etc) across defi are earning 20-30% right now on trustworthy platforms (Compound, etc), where they're being lent out with overcollateralized loans.

How can rates get this high without enticing large financial players to convert bank fiat into stables and earn that yield? Gotta be one of the best risk-adjusted trades in the world right now... am I missing something?

[Pete Cooling @PeteCooling]

investors, managers, and founders often miss the most important ingredient to success...insight

insight is the critical skill that 99% of people lack, yet is required for success - and it doesn't exist on a spectrum

you either have it or you don't

[Pete Cooling @PeteCooling]

we've never seen economic change happen as quickly as it has the last decade. the old system is crumbling, giving way to a rebirth of money and a new age of financial freedom

[Pete Cooling @PeteCooling]

In the 50's a check took 2 weeks to move through the banking system, called float

money float has dissipated since, yet remains

removing float by using blockchains will compress time & events by allowing money to be sent/received in milliseconds

the impact will be profound

[Pete Cooling @PeteCooling]

either populations use AI to exert control over their govt

or govt will use AI to exert control over their populations

[Pete Cooling @PeteCooling]

less than 50% of people in the world are able to participate in the internet economy

that's a huge problem

the crypto economy excludes no one

[Pete Cooling @PeteCooling]

something digital in nature should not see a decrease in value but a premium due to an increase in utility (distribution, shareability, divisibility, liquidity, etc)

[Pete Cooling @PeteCooling]

all i want to do is move money across all my accounts instant and free

today it's impossible but soon users will just be clicking buttons across their fav fintech/social apps and txs will get sent out to blockchains without them having to know or care

[Pete Cooling @PeteCooling]

naivety can be a superpower

[Pete Cooling @PeteCooling]

@AriDavidPaul the social contract is up for renewal, time to renegotiate

[Pete Cooling @PeteCooling]

@alexandre_lores they will need to tap into their creative nature and start exercising the right brain

the value of analytical work will fall, while the value of creative work will increase exponentially