Bill King

Crypto, AI & Investing. In discovery mode.

[Bill King @killbiing]

@naiivememe @benjamincowen

[Bill King @killbiing]

@AleoHQ @AleoHQ Do you guys not have a Whitepaper? Is that a little sus? I asked many times but never got a straight answer. Anyone know what’s going on?

[Bill King @killbiing]

@AleoHQ So you guys don’t have have a whitepaper?

[Bill King @killbiing]

Note to Self: Blobs, Parallelization, & L2 Rollups

Blobs in L2 Rollups:
Purpose: In L2 rollups, a "blob" typically refers to a large packet of transaction data. The main purpose of using blobs in this context is to manage the storage of extensive transaction data more efficiently.

Functionality: These blobs are used to store a significant amount of data off the main blockchain (Layer 1) while ensuring its availability. This is crucial for rollups, which process and store transaction data outside the main chain to reduce congestion and improve scalability.

Impact: By storing transaction data in blobs, L2 rollups can significantly scale the throughput of a blockchain network without overburdening the main chain.

Parallelization in L2 Rollups:
Definition: Parallelization in the context of L2 rollups refers to the capability to process multiple transactions or operations concurrently, rather than one after another.

Benefits: This approach greatly increases the processing capacity of the network. In L2 rollups, parallelization can be applied to transaction processing, data handling, or even the execution of smart contracts.

Result: By enabling multiple transactions to be processed at the same time, parallelization enhances the overall efficiency and speed of the blockchain, making it more scalable and suitable for handling higher volumes of transactions.

L2 Rollups:
Overview: Layer 2 rollups are solutions that operate on top of an existing blockchain (Layer 1). They handle transactions and computations off the main chain but post transaction data back to it.

Scalability Solution: As a scalability solution, rollups aim to reduce the load on the main chain, allowing for faster and cheaper transactions.

Evolution: The use of blobs and parallelization in L2 rollups represents an evolution in these technologies, aiming to address the scalability and efficiency challenges faced by many blockchains.

[Bill King @killbiing]

Note to Self: Envisioning a Decentralized, User-Owned AI Foundational Model

Present-day AI systems are primarily trained on vast datasets that are scraped from various public and private sources. This often happens without explicit individual consent, raising concerns about privacy and data ownership. Now, imagine a different scenario: a user-owned AI model, created through the voluntary contribution of data by 100 million individuals. This concept emphasizes personal consent and ownership over the data used to train AI systems.

In this envisioned model, each user contributes their private data to build the AI. This approach would not only ensure the privacy and consent of the participants but would also create a dataset that is incredibly diverse and expansive, covering a wide range of human experiences and knowledge. The benefits of such diversity in data are significant: the resulting AI model would be more inclusive, equitable, and less biased, representing a broader spectrum of the global population.

However, this approach brings its own set of challenges and considerations:

Privacy and Security: Ensuring the privacy and security of contributed data is paramount. This would require robust encryption and secure data handling protocols.

Decentralized Compute: The processing power needed to train the AI could be distributed among participants, akin to blockchain networks, which would help in managing the massive computational requirements.

Ownership and Governance: This model proposes a shift in AI governance. Users, as contributors, would have a say in how the AI is developed and used, leading to more democratic and transparent AI development.

The potential impacts of such a decentralized, user-owned AI model are profound. It could lead to the democratization of AI development, making it more ethical, transparent, and aligned with the interests of a broader range of stakeholders. This concept challenges the traditional, centralized approach to AI development and paves the way for a more inclusive, user-centric AI future.

[Bill King @killbiing]

Note to Self: BlackRock's BUIDL

BlackRock is making waves in the cryptocurrency world with its Ethereum-based tokenized fund BUIDL. In just its first week, BUIDL has attracted a significant $245 million in deposits, showcasing BlackRock's entrance into the realm of blockchain-based assets. This move highlights BlackRock's acknowledgment of the growing importance of cryptocurrencies and blockchain technology in the financial industry. As a major player in traditional finance, BlackRock's involvement lends further credibility to the legitimacy and potential of tokenized real-world assets.

How it works:
Selection of Assets: BlackRock selects a portfolio of assets for its fund, which in this case includes U.S. Treasury bills and repo agreements.

Creation of Tokens: Using a platform like Securitize, BlackRock converts ownership rights of these assets into digital tokens on the Ethereum blockchain. Each token represents a share or portion of the underlying assets.

Pegging to Value: The value of each token is typically pegged to the value of the underlying assets. In the case of BUIDL, the token's price is set at $1, reflecting the stable value of the U.S. Treasury bills and repo agreements it holds.

Yield Distribution: Holders of BUIDL tokens receive yields from the underlying assets. This means they earn returns on their investment in the form of interest or dividends generated by the U.S. Treasury bills and repo agreements.

Accessibility: The tokenized fund offers access to institutional investors who can trade and hold these digital tokens on the Ethereum blockchain, giving them exposure to traditional assets in a blockchain-native form.

[Bill King @killbiing]

Note to Self: Understanding Non-Fungible Tokens (NFTs) and Ordinals in Bitcoin

Non-Fungible: Means unique and irreplaceable. Unlike fungible items (like money, where each unit is interchangeable), non-fungible items have distinct characteristics.

NFTs in Digital Realm: Digital assets that represent unique items or content. Each NFT is distinct, even within the same collection, and its value comes from its uniqueness.

Real-World Analogy for NFTs: Similar to unique collectibles or artworks in the physical world. No two NFTs are identical.

Blockchain and Ownership: NFTs are recorded on a blockchain, providing a secure record of authenticity and ownership history.

Ordinals in Bitcoin: A new concept where each satoshi (the smallest unit of Bitcoin) is made uniquely identifiable, enabling them to carry specific information or metadata.

Satoshi as NFT-like Asset: With ordinals, each satoshi can represent unique digital assets, similar to NFTs on other blockchains. This includes digital art, collectibles, etc.

Inscriptions on Satoshis: Users can inscribe data onto individual satoshis, creating permanent, unique records on the Bitcoin blockchain.

Impact and Controversy: Ordinals introduce NFT-like functionality to Bitcoin, leading to debates about blockchain space usage and Bitcoin's original purpose.

[Will @wstone_bd]

Ok hold up, pump the brakes

Are you telling me that Lisa Su, the CEO of AMD, and Jensen Huang, the CEO of NVIDIA, are COUSINS????

I'm sorry, WHAT????

[Watcher.Guru @WatcherGuru]

JUST IN: Grayscale spot #Bitcoin ETF banner featured on Wall Street in New York City.

[BRITISH HODL @BritishHodl]

In the last cycle, if you made money holding $TSLA 2019-2020, and wanted to pivot to #Bitcoin:

1. Sell $TSLA with a click of a button.
2. Withdraw funds into your bank account.
3. Open your Coinbase/Gemini account. Wait 3 - 7 days.
4. Wire the funds to Coinbase/Gemini after calls from your bank to see if you're nuts and how high risk the move is.
5. Buy the Bitcoin.
6. Go to YouTube and get shitscared about losing all your funds.
7. Order a cold wallet.
8. Wait a week to receive the Cold Wallet.
9. Set up the Cold Wallet and secure seed phrase and wonder why it feels like going back to the stone ages of wealth management.
10. Bring up receiving address and panic into typing every single letter correctly into your Coinbase.
11. Hit send and pray your Bitcoin actually arrives and you didn't fuck it up.
12. Never forget 12/24 words otherwise you lose all your wealth.

You'd say, fuck that and just pivot into QQQ.

In THIS cycle, if you made money holding $NVDA and want to pivot to #Bitcoin:

1. Click "Sell" on $NVDA.
2. Click "Buy" on a #Bitcoin ETF.
3. Go tell your friends about how much of a genius investor you are and the amazing pivot you just made.

Follow the incentives, they will lead you to the promise land.

[BRITISH HODL @BritishHodl]

As many have pointed out.

#Bitcoin all time high in 2021 was $69,000.

However, Inflation Adjusted high now in 2024.

Is $78,500!!!

At a cumulative rate of inflation of 13.8%.

I will not bat an eyelid until we cross $79,000 for good measure.

You are not going to steal something from me in 2021, give it back to me in 2024 and expect me to be happy.

No smile until #Bitcoin crosses $79,000.

Anyone who celebrates All Time High at $69,000 is weak.

[Crypto Zombie @TheCryptoZombie]

With the exception of some small resistance around $62k, you do realize there is basically nothing significantly holding us back now from reaching a new #Bitcoin all time high?

Craziest part is most retail still isn’t even here yet. No Uber drivers or cashiers talking about it.

Friends and family not calling you asking about it.

This is easily going to go down in history as the most hated #BTC rally of all time as the majority are still either sidelined or completely unaware of what’s actually happening.

Congrats, on the other hand, to everyone who stuck it out and put in the hard work!

As usual, they will probably all say you just “got lucky.” But we know the truth.

Stay humble and stack sats my friends!

[The Figen @TheFigen_]

Unfortunately, the summary of life ...

That's why we must live in the moment!

[Crypto Zombie @TheCryptoZombie]

Does anyone else realize how UNSUSTAINABLE this is?!!

272,000 #Bitcoin bought in the last 28 days by ETFs.

Meanwhile only 25,200 $BTC were mined!

Yes, GBTC outflows are still a concern, but at some point that will have to end.

Assuming this number stays consistent (or possibly even increases) with roughly ~2 million #BTC on exchanges (based on today's liquidity), that would mean that in about 8 months time there would literally be ZERO BTC available for sale!!!

Oh, and not mention the halving in 3 months will cut this amount to just 12,600 BTC mined in the same amount of time!

Then the REAL FOMO will kick in!

Most people have no idea this is even happening. The truth is, NO ONE is bullish enough right now!

[Watcher.Guru @WatcherGuru]

JUST IN: Bloomberg predicts $4 billion in spot #Bitcoin ETF inflows on the first day of trading, with the possibility of $2 billion directly from BlackRock.

[Emperor👑 @EmperorBTC]

What will Happen Next in Crypto

1. Bitcoin Tops for a short while.

2. Meme Coins Pump, suggesting the end of the Rally.

3. Whale and Market Makers go on a Holiday. This gives a small Dump.

4. Late longs get liquidated. People lose hope.

5. Economy turns Bullish next Year. Cheap Money enters market Again.

6. Whale come back after the Holiday. Market Pumps. Retail misses the rally again.

[Bill King @killbiing]

@JuliusThomasIII @coinbase almost overtook @elonmusk with a solid 500 billion dollars