wherever I feel like
Joined December 2017
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Self Made 🐸 retweeted
I'VE BEEN THINKING A LOT about Treasury/Fed dynamics (remember, Yellen's Treasury started the latest round of it...#fiscaldominance), but this morning's near-miss news about Jack Henry also factors into it. The skirmish is about far more than monetary policy. Why? @SecScottBessent understands how antiquated the banking industry's core tech is (incl the Fed itself). The origin of the problem is that, years ago, the Fed pushed >95% of banks into picking one of 3 Fed-approved integrators for banks' integrations with the Fed (the so-called "banking cores": FIS, Fiserv & Jack Henry). And this morning, news of a data breach hit one of them (no customer data tho, it said). Near-miss.
Bessent's best move for the long-term health of the US financial system would be to start issuing US Treasuries in tokenized form. Why? That'd give the banks an alternative large-value payment network--one that's programmable and runs on modern payment rails, so that banks can choose. It'd also solve the banks' single-point-of-failure/honeypot risk to which the entire US financial system is exposed via concentration in these 3 banking cores. I know Bessent has long been thinking about issuing tokenized Treasuries...let's see what he does here...
zerohedge.com/markets/treasu…
Self Made 🐸 retweeted
🤖WILD: Virtuals Protocol is building an entire NATION for AI agents, complete with identity, banking, commerce and capital markets.
The project gives every AI agent a crypto wallet, a payment card, an email address and the ability to hire, pay and evaluate other agents, all on-chain.
One AI-only company built on it has reportedly generated $200,000 in revenue with zero human employees.
Self Made 🐸 retweeted
This is the path to making better money a reality. We have all the infra to make it happen.
Self Made 🐸 retweeted
gained a ton of new insights working in bitcoin red team 🟥 that i wish i could share without vague posting. but this is what i got anon.
- we’re experiencing a massive collision between decades of human open source slop against 2 weeks of kimi k3 (not good)
- everything is broken, bitcoin is burning
- bitcoin is becoming stronger through this
- bitcoin is the obvious first target but the rest of the world will follow shortly
- sometimes old things need to burn so new things can grow on healthy soil
- humans should never code in c (just stop)
- lightning is complicated and is more broken than the average (sorry)
- verification is free. we used to complain about slop PRs. then about slop security audits. if you can’t handle the information overload, stop complaining and use AI to sort through it.
- those projects that started AI audits months ago are in a completely different position than those who didn’t
- projects need their own AI audit pipeline going into the future
- the burden for a developer to keep software safe and secure is pretty stressful and not for everyone. it has become a lot more stressful now.
- unmaintained projects are most probably broken, don’t rely on them. i’d rather one-shot it myself with a modern AI
- multiple concurrent, diverse human approaches have proven to be the best vulnerability search method
- external red teaming will probably have to continue forever
- we’ve basically completed a basic scan of virtually the entirety of bitcoin open source. the low hanging fruit is done.
- we’ve reported a ton of real critical and high vulnerabilities. project maintainers across the board have validated our findings.
- response speed is very different across projects and shows how healthy each project is. i recommend acting fast these days.
- red team etiquette matters. if you don’t disclose responsibly, boast on twitter about your findings on a particular project, or make indications about the nature of particular findings, you’ve disqualified yourself as a serious security researcher. trust is the most important factor in this game. if you lose it, it’s very hard to win it back.
- did i mention that humans should not code in c?
love you all.
Self Made 🐸 retweeted
“Like we either live in a world with freedom or we don’t, and like many Americans who have come before, I’m willing to give my life to fighting for it. That’s the real plan America deserves, not some totalitarian dystopia where you think you know what’s good for me better than I do. A nation of free men, not a bunch of pussies who are so worried about what their grown up neighbors might do.”
More of this energy hell yes @realGeorgeHotz
AI 2040 and the Cult of Intelligence geohot.github.io//blog/jekyl…
Self Made 🐸 retweeted
This is what a mixed quantum state looks like and it’s hypnotizing
ρ = ∑ pₙ |ψₙ⟩⟨ψₙ|
Self Made 🐸 retweeted
🚨: According to Philosophy, the highest form of peace is to have zero desire to be understood, admired, pitied or even known.
Self Made 🐸 retweeted
Such a good piece. Must reading.
In both cases, the banking lobby is arguing that novel instruments that benefit consumers – whether fully reserved depositories or interest-bearing stablecoins – pose a risk to the banking system and bank deposits. A more accurate description would be that skinny master accounts and interest-bearing stablecoins pose a risk to banks’ monopoly over payments.
Self Made 🐸 retweeted
We are just getting started…
Visa is leaning hard into agentic commerce and stablecoins.
• Agentic commerce live in the US & CEMEA, expanding globally
• Stablecoin cards now in 50+ countries
• USDC settlement live in the US
• $4.6B annualized stablecoin volume
Visa is positioning itself as the infrastructure layer between crypto and traditional finance.
source: Visa Q1 earnings call
Self Made 🐸 retweeted
String Theory is one of the few frameworks that tries to describe Quantum Physics and Gravity in the same mathematical language.
In this animation, the glowing loop is the string, the shifting color along it represent its quantum vibration modes, and the surrounding fabric is a proxy for Spacetime responding.
When you quantize a string, one of its vibration modes behaves like a graviton. So, geometry shows up as part of the same quantum system.
#StringTheory #QuantumGravity #GeneralRelativity #QuantumPhysics #TheoreticalPhysics #PhysicsVisualization
Self Made 🐸 retweeted
So far today...
1) Meta revealed plans to roll out stablecoins payments across Facebook, Whatsapp and Instagram (that's 3 billion users);
2) Coinbase turned on stock trading -- 24/5, zero commissions;
3) Kraken rolled out 24/7 perps trading on tokenized stocks;
Eight months ago the SEC said "let there be superapps" and the market is responding.
Self Made 🐸 retweeted
the gap between what these models can do and what the average person uses them for is the biggest market inefficiency i've seen.
we have tools that can reason through multi-step legal analysis, build entire applications from a paragraph, synthesise hundreds of research papers in minutes, generate and iterate on business strategy with more rigour than most consulting firms.
and the median use case is still go read my emails or some shit, not a criticism, just an observation.
it's giving early internet / early iphone vibes
there is a goldrush, so get your shovels ready boys
Self Made 🐸 retweeted
The math on this project should mass-humble every AI lab on the planet.
1 cubic millimeter. One-millionth of a human brain. Harvard and Google spent 10 years mapping it. The imaging alone took 326 days. They sliced the tissue into 5,000 wafers each 30 nanometers thick, ran them through a $6 million electron microscope, then needed Google’s ML models to stitch the 3D reconstruction because no human team could process the output.
The result: 57,000 cells, 150 million synapses, 230 millimeters of blood vessels, compressed into 1.4 petabytes of raw data. For context, 1.4 petabytes is roughly 1.4 million gigabytes. From a speck smaller than a grain of rice.
Now scale that. The full human brain is one million times larger. Mapping the whole thing at this resolution would produce approximately 1.4 zettabytes of data. That’s roughly equal to all the data generated on Earth in a single year. The storage alone would cost an estimated $50 billion and require a 140-acre data center, which would make it the largest on the planet.
And they found things textbooks don’t contain. One neuron had over 5,000 connection points. Some axons had coiled themselves into tight whorls for completely unknown reasons. Pairs of cell clusters grew in mirror images of each other. Jeff Lichtman, the Harvard lead, said there’s “a chasm between what we already know and what we need to know.”
This is why the next step isn’t a human brain. It’s a mouse hippocampus, 10 cubic millimeters, over the next five years. Because even a mouse brain is 1,000x larger than what they just mapped, and the full mouse connectome is the proof of concept before anyone attempts the human one.
We’re building AI systems that loosely mimic neural networks while still unable to fully read the wiring diagram of a single cubic millimeter of the thing we’re trying to imitate. The original is 1.4 petabytes per millionth of its volume. Every AI model on Earth fits in a fraction of that.
The brain runs on 20 watts and fits in your skull. The data center required to merely describe one-millionth of it would span 140 acres.
Self Made 🐸 retweeted
Autonomous agents are an entirely new category of users to build for, and, increasingly, to sell to.
Today, we’re launching (a preview) of machine payments on @stripe—a way for developers to directly charge agents, with a few lines of code. 🤖💸
$ Let’s start tinkering… ⤵️
Self Made 🐸 retweeted
This is really interesting… A twitter agent seems to have deployed the world’s first “agentic company”.
It seems to be architected in a way that it can self sustain itself, with no human to fund it. Runs on stablecoins.
Here’s how I think it works 🧵
Self Made 🐸 retweeted
Bank of America CEO on why stablecoins shouldn't pay interest:
(TLDR: consumers shouldn't earn yield so banks can)
Quick summary:
Interest on stables -> mass deposit flight
Fully reserved money -> no fractional leverage
Banks lose free funding -> profits go bye bye!
If you're wondering why the banks don't want yield on stablecoins, here's the summary of National Deposit Rates from the FDIC:
-> Savings = 0.39%, Checking = 0.07%, MM= 0.58%!
-> All while the Treasury Yields are 3.89% (from 12/15)
-> That fat spread of 3.82% represents bank profits and it's what they don't want anyone jeopardizing
