yoitsyoung

you're not looking at someone who woke up a loser. that loser attitude, that loser premise, makes no sense to me.

prev @multicoin @foliusventures @nansen

[yoitsyoung @yoitsyoung]

Sounded so crazy I had to check how he prompted ChatGPT.

He only wrote 9 sentences.

"Don't use the internet.

</problem>
</lemma 1>
</lemma 2>
</lemma 3>

REMEMBER: this unconditional argument may require non-trivial, creative and novel elements."

Wow.

[Ananyo Bhattacharya @Ananyo]

23 years old with no advanced mathematics training solves Erdős problem with ChatGPT Pro. "What’s beginning to emerge is that the problem was maybe easier than expected, and it was like there was some kind of mental block.”-Terence Tao https://t.co/Cphu6dexyb

[yoitsyoung @yoitsyoung]

highly professioned power law investors re-invent labour economics from first principles

[donn @tzedonn]

such an insane chart from @thomas_coatue 's talk at Liquidity.

tldr: topblasting works!

[yoitsyoung @yoitsyoung]

That's why he dumped 8M of HYPE right after Arthur Hayes sold

[Mikli @CryptoMikli]

Andrew Kang says Peter Thiel and Chamath might have made more money if they had just held their Facebook stock

“If you look at some of the best-known investors, like Peter Thiel or Chamath, they sold all their Facebook stock at the IPO. They’ve made a lot of great investments, but they might have outperformed if they had just held their Facebook stock instead of doing 100 other things.”

“Humans have the itch to find the next best thing and to take profit when something goes up a lot. But we underappreciate the fact that the universe is almost infinite, and so is the TAM for some of these really great companies.”

“It’s the longer-term stuff that outperforms. Probably 90% of people would tell you they wish they had just held Bitcoin from 2019 or 2020 and done nothing else. Or just held Apple, Google, Nvidia, or Amazon.”

[yoitsyoung @yoitsyoung]

@EthosVentures In case it isn't obvious to you

a store of value asset needs a pristine, auditable history, private or not

[Udi Wertheimer @udiWertheimer]

btw this isn’t the first time a bug like this was discovered in zcash. last time it was disclosed after being a year+ in the wild and everyone lost faith and zcash went to zero for 7 years, until they found a new generation of buyers who doesn’t know the history (that’s you)

[yoitsyoung @yoitsyoung]

Due to the nature of the privacy of the protocol .... "there is no definitive way to determine using only cryptography whether such exploitation occurred before the vulnerability was discovered and fixed."

Don't see how this can stand as a privacy SoV now?

[zooko🛡🦓🦓🦓 ⓩ @zooko]

https://t.co/v7BiOdzU9E

[yoitsyoung @yoitsyoung]

If you had bought HYPE 6 hours ago and sold it now, you would have outperformed five years of holding Ethereum.

[Tomas Babej @TomasBabej]

@peterrhague Inside Claude Code, you can just use "!" to execute any bash comamnd directly, i.e. typing "! git status" would work without having the agent to execute it for you.

[yoitsyoung @yoitsyoung]

@cz_binance @sershokunin how much of the SBF's anthropic estate was transferred to Binance lol

[yoitsyoung @yoitsyoung]

Did @cz_binance just beat @sershokunin to launching Anthropic pre-IPO perps?

[yoitsyoung @yoitsyoung]

@lukecannon727 Why does HIP-4 fix this? Is the single token model better?

[yoitsyoung @yoitsyoung]

gm, this is about valuation not accounting,

methinks the fair value of hype circ supply shld in fact include that treasury amount, as it is an approved future share dilution, similar to RSUs + warrant converts in GAAP,

whereas staking yield is in fact proportionally claimable by circulating equity (via staking) and in fact should be removed when calculating fair value....

this in fact is a much more transparent operating process than say a scrip issue in trad stocks land, which is arbitrary stock dilution ...

not to say i'm a fan of the artificially high staking rate, in fact i think it's bearish hype long term, but hey you can grow your way out of anything

TLDR: HYPE to $80

young

[Kyle Samani @KyleSamani]

Serious gaslighting here

When an asset has been earmarked for a specific use for future spending…. It should be reported and accounted for as such

Totally different than saying a company can grant equity to employees who may or may not exist. Or who may or may not take comp packages.

[yoitsyoung @yoitsyoung]

Inevitable: something certain to happen

[yoitsyoung @yoitsyoung]

Who are the best traders & PMs in NYC? Hosting a private dinner just before Tech Week. DM or comment for invite.

[yoitsyoung @yoitsyoung]

@0xTiino enough vibe coding today

[yoitsyoung @yoitsyoung]

What I took away from this post is that Vitalik has a net worth of 400M

[vitalik.eth @VitalikButerin]

Some of my perspective on where the @ethereumfndn is going.

First of all, this is only my own view. The board is not just me, and I have no extra special powers on the board that the other board members do not. @aerugoettinea is the one executing much of this transition. My input has been largely on technical questions. The board is in the process of expanding, and my own power within the org will continue to decrease, which is honestly what I want.

The 2025 era brought many important improvements to EF and its ability to execute. Many issues were resolved, and EF continues to benefit from its improved efficiency and greater focus on concrete goals to this day. And so with those problems resolved, early this year, the largest remaining hole that I perceived was something different nagging at me: I would regularly spot people saying things like "vitalik says these beautiful things about ethereum needing to be decentralized, and have privacy, and be a sanctuary technology, but why do the EF's actions not reflect that?"

Now, you may have been hearing something different. You may not have been sensing a feeling of crisis at all, and maybe were hearing people saying that finally we were taking execution and BD seriously and the main task for us is to keep going that way and be even better and faster. Then probably there is genuine difference between you and me, in what kinds of criticism I take most seriously, and what kinds of critics through their criticism are most able to make me feel pain.

As an analogy, let's briefly switch over to a different domain.

One belief you can have about Google is that it is a success story, and has brought a lot of good to humanity in organizing the world's information. Another belief you can have about Google is that they had a beautiful idealistic beginning, but at some point the corruption of mainstream corporate attitudes seeped in, and they slowly bit by bit completely abandoned the "don't be evil" slogan.

My belief on Google specifically is probably somewhere between the two. BUT, if you had taken me back in time to ~2008, and offered me a button to press to make Google one or two standard deviations more "dogmatic", eg. give Richard Stallman permanent veto power over some key policies, I would immediately press it.

Why? Because a choice for one company is not a choice for the world, or even one country. Google existed and exists in the context of a technology industry generally drifting away from early idealistic don't-be-evil roots and toward greed for financial gain, totalizing visions of accelerated superintelligence, infiltration by sociopaths, and craven capitulation to (or worse, active participation in) government pressure for ideological control, surveillance and war. And so *one company* doing something different, positioning itself to be what George Bernard Shaw calls the Unreasonable Man, resisting the trend of the times, would have been better for freedom, balance of power and stability of society as a whole, than *all* large companies bending to dominant trends. This is a part of my version of pluralism.

This line of thinking is not just mine, but I also is not too far off from what Aya and others had in mind with the Mandate.

Now how does this all get to the role of the EF?

EF is not a "center of Ethereum", rather EF is "one node, with a defined purpose, alongside other nodes". We've always said that the EF should be the latter, but many in the Ethereum ecosystem (and even within the EF) wanted us to be the former. Now, we are taking action to ensure that we will be the latter.

This is particularly important because EF is a limited organization, with limited resources and limited organizational capacity. The EF has only ~0.16% of all ETH (less than many other individual ETH holders), whereas among other blockchains it's common for "the central foundation" to have 10-50%. Fiscally, the EF was originally designed to fulfill a limited work scope defined in the token sale docs and other pre-launch materials (building the chain software; getting through Frontier, Homestead, Metropolis, Serenity), which was fully completed in 2022; it was not designed to be an eternal steward.

And so today, the EF is choosing to use its remaining resources to pursue longevity over breadth (yes, this means we sell less ETH). The EF focuses *specifically* on those activities critical to the success of ethereum as a censorship/capture-resistant, open, private and secure system, that would not happen otherwise. This means making hard choices, and in some cases even activities that we highly approve of and people that we highly respect becoming outside of the EF. People of great technical talent, public respect and even alignment with the mission and CROPS being outside of the EF is in fact necessary if we want important tasks to be able to attract outside capital. This also means the EF taking opinionated stands culturally.

This is all intended in cooperation with all other parts of ethereum. We recognize that many other parts of the ethereum world highly respect CROPS and related values. But highly respecting is not the same as choosing to specialize and totally dedicate to a domain (Compare in a different domain: I think reducing animal cruelty is important, and I like vegan food, but am not full unconditional vegan myself)

EF is still in a transition period, and we expect its new long-term form to stabilize over the next few months. What are the guiding principles of this new form? Again, I am only one person, but I can give my answer from a technical perspective (there are also critical non-technical aspects).

At the core, *Ethereum must be impressive*. We are living in an age of highly intelligent AI and all kinds of other technological acceleration. "Status quo EVM, with a hard fork or two a year to optimize for short-term needs of users" is not interesting.

To some, "impressive" means: 250ms latency and 1M TPS. I think Ethereum trying to go that route is a mistake. Being as fast and as scalable as possible, and only a small epsilon more decentralized than the others, is a route to mediocrity, and if we try it we will lose.

I think Ethereum should scale. But I think Ethereum should strive the hardest to be deeply impressive in a different dimension: the CROPS dimension. This means things like:

* Provably bug-free Ethereum. This is a goal that all cybersecurity researchers would have thought is absurd and impossible, up until roughly 6 months ago. Now, it's on the cusp of being possible, thanks to AI-assisted formal verification. So we should be frontrunners in doing this.

* Available chain consensus. Ethereum is, and with lean consensus will cotninue to be, the ONLY chain that has both (i) traditional-BFT style properties that it's safe under asynchrony up to a high level of fault tolerance, and (ii) the bitcoin PoW-style property that under synchrony it's safe up to 49% attackers. As far as I can tell, literally no other chain has this or is planning for it; bitcoin goes for (ii) only and most other chains go for (i) only. Some will remember I fought hard for this, Unreasonably insisting that it is not OK for ethereum to rely on social consensus and hard forks to rescue ethereum from 34% of nodes going offline. It's OK for chains like hyperledger, bnb, solana, tempo, etc. It's not OK for bitcoin or ethereum or eg. zcash.

* Intermediary minimization. The fact that smart contract wallets, protocols like railgun, etc have to send transactions through intermediaries to get included onchain is honestly embarrassing, and it's a constant point of fragility. Hence the work on FOCIL and EIP-8141 (and 7701 and years of work before) to make transaction sending intermediary-minimized with public mempool and strong inclusion properties, in a truly general-purpose way, that covers not just eg. secp256r1, but also privacy protocols and much more. Kohaku is pushing intermediary minimization at the user layer, pulling Ethereum away from the dystopian status quo world where our wallets don't even verify the chain, send our private data out to a dozen third-party servers, and toward a brighter CROPS future.

Some of these goals are Unreasonable - maybe Ethereum would be "fine" getting only 50% of the way - what if we depend on intermediaries, but make it easy to switch? But going 50% of the way would not make Ethereum Deeply Impressive in the CROPS way. So we push for 100%.

Fortunately all these goals are compatible with high TPS, this is a major focus of research (esp. on scaling the state). Well-designed L2s can also help, especially L2s optimized for specific applications (eg. high-volume trading, privacy...). These goals are even compatible with significantly lower slot times, thanks to Raul's work on erasure-coded P2P, and many other optimizations.

The most high-value "product" of the ethereum blockchain, financially speaking, is ETH the asset. Ethereum secures $250 billion of ETH. The types of properties of Ethereum that I mentioned above are very good for ETH the asset. Nearly 90% of my net worth is in ETH, and most of the remainder is ~$40m of onchain fiat of which every dollar has already been allocated for some open-source biotech or software or hardware initiative. That said, there are aspects of supporting ETH the asset - *necessary* aspects even - that are outside the scope of the EF. This is where we need other heroes (some of whom hold more ETH than the EF does) to step in and help. EF has been recently thinking more about how it will relate to other such organizations, and give them needed initial support.

EF will be a smaller ship than in previous years, a more opinionated one - in some cases more opinionated in ways that might be difficult to comprehend - but a longer-lasting one, and one suited to making sure that ethereum brings something meaningful to the world. We are grateful to all those inside and outside the EF who are helping to make this happen.

[yoitsyoung @yoitsyoung]

As a major funder of quant / factor strategies that freeload off another trader's marginal pricing function, I wholly disagree.

[Robin Hanson @robinhanson]

"prediction markets are useful because they make knowledge more widely available. … insider trading on prediction markets is a feature rather than a bug" https://t.co/Dilx2VVBmt

[yoitsyoung @yoitsyoung]

Real convo I overheard in New York:

"how much is that, 7 years?"

...

"I feel like if I go to jail I want to risk it with something bigger,"

*mutters something in Chinese*

"like perps on India stocks, you know."

[yoitsyoung @yoitsyoung]

@karpathy +10B market cap

[yoitsyoung @yoitsyoung]

Equally incredible tech btw

[yoitsyoung @yoitsyoung]

Gabe Newell, founder of Team Fortress 2, Half Life, Portals, reportedly worth 11B, is the second largest individual donor to OpenAI behind @elonmusk

[MTS @MTSlive]

Donations made to OpenAI from 2016-2023.