ittai (@ittai) • Hey
Co-Founder of Den • Core at ConstitutionDAO • Guardian & Delegate at SafeDAO 🔰
Publications
- My latest nerdy curiosity deep-dive: **how Bitcoin NFTs work, since Bitcoin support smart contracts**
What I learned: Bitcoin NFTs take advantage of the Taproot Bitcoin upgrade****
Taproot lets you permanently inscribe Satoshis — the smallest atomic units of Bitcoin equal to 0.00000001 BTC — with any arbitrary data (e.g. artwork)
Bitcoin NFTs are just Satoshis that contain inscribed data 🤔
- Ship so fast that it's scary
- DeFi just makes sense — especially permissionless composability
We can't even imagine the financial products that'll emerge 5 years from now as developers keep building on top of each other's protocols like lego building blocks
You should be so excited
- Stop hunting down signers for every multisig transaction
Den now lets you create batched transactions, so your signers can approve more transactions in less time
Send tokens, interact with contracts, and connect to dapps — all in one transaction
- Stop doing this to increase your social authority at work
Most first time founders and new professionals make this mistake trying to sound friendly
#bytes
- Avoid this if you want to start a company
There's a mistake that almost all first time founders make. Avoid it.
#startups #businessadvice #bytes
- How the FTX "Infinite Equity" Machine worked:
1) FTX loans customer deposits to Alameda Research
2) Alameda Research invests those deposits into startups
3) Alameda Research makes those startups deposit funds on FTX
4) Repeat 🔁
- This is how FTX scammed startups for equity
You know that FTX loaned customer deposits, but the story gets crazier.
Here's how they turned stolen customer funds into an infinite startup equity machine.
#bytes
- How FTX imploded
This has been the craziest week in crypto history — maybe ever
Prices tanked and cortisol levels spiked
Here's how it happened
- Reddit NFTs Turned Out Successful?
Reddit's crypto expedition has been surprisingly successful. Reddit NFTs have had large daily trading volumes and have onboarded more than 3 million new people to Web3.
- Ethereum isn't a currency — it's a world computer
Most people talk about Ethereum as a currency, but Vitalik's original vision was that Ethereum would be The World Computer, and that's what it really is today.
- I've spent a lot of time thinking about this
Crypto adoption was held back because most products:
1. started with the "technology"
2. tried to force-fit it to a problem
But it's obvious this trend is reversing
The next wave of web3 companies is clearly coming and it’ll be led by the customer-obsessed ones
- So many people don't realize that on-chain transactions can do so much more than a single transfer of value
When my TradFi friends find out that a single Ethereum transaction can do countless things based on conditional logic, they're mind blown
- The current social media platforms like Facebook and Twitter are facing a new challenge: decentralization.
Here's an eye-opening (no bullshit) explanation of Lens:
Have you ever wondered why there are so few social networks?
It's because of the "cold start problem":
→ new networks start with no users
→ therefore they provide no utility
→ therefore no users sign up
It makes creating a new social network nearly impossible
The cold start problem has real ramifications for you and me — people who aren’t trying to start new social networks, but are content consumers and creators
We’re locked into platforms and can't easily travel between them:
• If you have an audience on Twitter, you still need to start from scratch on Youtube
• If you get shadow banned, you have no recourse
• If you hate the algorithm, you have no alternatives
But what if you could easily travel between social networks, taking your content and followers with you?
You could use Twitter, but with an interface or algorithm you prefer
Or you could start creating content on another social network, carrying over your existing audience
The magic of Lens is that it lets new social networks bypass the cold start problem and have content and utility from day one
It's a decentralized social graph — a tool for developers to build new social networks by bootstrapping content and follower graphs
For us content consumers and creators, Lens means we can hop from social network to social network, taking our content and followers with us
We get optionality and we control our data
It's pretty crazy, and I can't believe we get to be the early adopters of what's clearly going to be the future
And long-term, it gets even better
Our ability to travel from network to network, keeping our content and followers, hurts the monopoly social networks have today
It decreases their leverage
And increases ours
- Actual footage of devs building in the bear market
- Welcome @mikeshinoda.lens to Lens!!!
- Crypto usage is up despite the bear market?
On-chain data shows more teams are executing transactions that ever before
- Also in the PAPER-VIEW #SHREDAGEDON line-up for this evening...
Wiggle Wagon vs Mixed Vegetables!
Join us for a free livestream of battling spreadsheets, because, why not?
- TONIGHT: Cartridge Blow vs Glitchy Gibbon - who will $SHRED their way to pride and THOUSANDS in prizes?!
Come, take a Sheet, and battle with us. LIVE!
- #SHREDAGEDON IS UPON US!
Sure, there's a big merge this week... but there ALSO happens to be a lot of fighting spreadsheets. Consider this a warning, but like, a totally non-threatening one.
- A little alpha for the Lens community: #SHREDAGEDON IS UPON US!
Sept 12th @ 6PM-PT.
Prepare your body, mind, heart and holes...
Not a typo.
Come, say "GM" to the Sheet Fighter team: http://sheetfighter.party
- SAY GM, AGAIN!
We've come a LONG way since mint and here's lil' something to re-introduce you to the single greatest AI generated, 100% fully in-and-on-chain spreadsheet battler; where you stake, upgrade, win and compete for REAL PRIZES!
It’s all begins this Monday, September 12.
Prepare to Sheet thyself.
Discord: http://sheetfighter.party
- 👊 Last weekend, we launched our open beta: a fully on-chain P2E fighting game, with charming graphics, and amazing use of @polygon.lens and Chainlink.
It was spectacular.
We spent months building up to it.
💔 And here's how Twitter rugged us, and how @LensProtocol saved the day!
- day one on @lensprotocol