Fair markets and intelligent systems that empower people. Launching @contro_app, the best place for constructive debate leading to clear decisions.
Controverse
Joined November 2022
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Contro retweeted
Good moment today to remind everyone to stay frosty with AI. I was working on making a server stoppable via the CLI, and Codex decided the best path forward was to implement an unauthenticated network API to every server to shut itself down. Excellent work.
I responded with "I don't know about that." (I usually give more direct feedback but this was so absurd) and it thought for like 20 seconds and responded "Server stopping should not be part of an unauthenticated network API." Yes. lol.
By the way, the result I was looking for was that we automatically start a locally discovery Unix-socket bound server so I wanted it to discover that (using prior mechanisms already made) and gracefully stop that.
The driver is absolutely accountable here (me). My lazy prompting led AI to think I wanted to be able to stop ANY configured server I was talking to. Shame on me for thinking it was obvious here. But, I also reviewed it and found this idiocy, so, that's where good AI drivers come in. Also me.
Contro retweeted
Crypto allows you to convey information by committing capital into permissionless markets.
A very effective system of transmitting market information via prices, this data is a collection of the belief of individuals.
Stronger belief in something? Commit more capital.
Contro retweeted
I've made 3 new markets on @controrg testnet today!
1. Number of active Kamis in @kamigotchiworld.
2. Will @KPeruggi write about Arsenal (again).
3. Will @0xMista write "yomo" on Kami or @Whisperseers Discord.
Come and have some fun with us!
Contro retweeted
.@ItsAlwaysZonny explains how the "glob" levels the playing field allowing participants to succeed based on the accuracy of their predictions rather than the speed of their information access.
teapawt.net/therollupco/status/183…
NYC Sessions EP. 6: The Interwoven Appchain Thesis
In the 6th episode of our NYC chain abstraction focused content marathon, @andyyy & @0xask sat down with @ItsAlwaysZonny of @initiaFDN to discuss the vision and architecture Initia.
We discussed the novel apps being built on Initia, how Zon is thinking about chain abstraction within their stack, and the inspiration from both Ethereum and Cosmos.
After wrapping up testnet recently, Initia is set to go live on mainnet shortly. We asked Zon about his learnings from testnet, the roadmap to mainnet, and his vision for Initia and the modular ecosystem.
Watch or listen to the full video to learn about one of the upcoming mainnet launches in modular ecosystem:
02:25 Asian Influence in Initia's Brand
04:28 Building a Modular Future
09:48 Chain Abstraction Focus For Users
17:44 Why Another L1?
19:34 Appchains on Initia
28:16 Testnet Results & Feelings
31:05 Road To Mainnet Launch
Contro retweeted
We need more products that are clear about the users they care about and the problems they're solving, with a full understanding of context and history.
@controrg is one of those products. Building for the right reasons and for regular peeps like us.
Oh yes, it's on @initiaFDN.
Contro retweeted
nine (9) interwoven rollups
Study @controrg
Study @civitiaorg
Study @lunch_xyz
Study @zaar_gg
Study @Inertia_fi
Study @blackwing_fi
Study @milky_way_zone
Study @TucanaNetwork
Study INIT AI
The interwoven future is upon us.
Contro retweeted
Ya
Now imagine if we let people speculate on something they actually care about like
Celebrities, Music, TikTok trends...
Contro retweeted
My most high conviction non consensus thesis: 2024 will be the year of prediction markets
I may have some bias as an ex poker pro, coming from a culture where we bet on everything
But dammit what else to use crypto rails for if not for permissionless betting on anything
Anyone paying attention can tell that
prediction markets are more reliable than the news.
Trust in journalists, pollsters, and experts is at an all-time low.
We looked at on-chain data for the largest prediction market, @polymarket.
We'll cover:
1. Usage and adoption
2. Protocol net-flows
3. Trader earnings
4. Future of prediction markets
1. Market movers like @BillAckman and @realDonaldTrump have already started referencing @Polymarket and @Kalshi. It seems like 2024 is finally the year that prediction markets cross the chasm and go mainstream. Look at the Google trends. We've come a long way since @robinhanson popularized decision markets and futarchy over a decade ago.
2. We looked at Polymarket's on-chain treasury on @0xPolygon. They've processed hundreds of thousands of transactions and over $200m in inflows. Their net flows (outflows - inflows) since inception add up to $13.66m. This is a proxy to gross revenue.
3. We analyzed the top 20 traders on Polymarket. They've generated ~$5m in earnings, averaging $220k. Seems like a sufficient enough profit motive to drive more users. (link in the comments)
4. Today, markets are selected, created, and curated by the Polymarket team. Sure, users can submit requests on Discord. However, in the future, it's obvious that the next step is to allow 100% user generated markets. This reduces the marginal cost for each $ earned and therefore COGs for the company, while increasing the moat.
Conclusion
- Incentive-driven, free-market solutions can be extremely effective at governance.
- Prediction markets are the obvious next phase of evolution of the news.
- Blockchains enable prediction markets to function efficiently and transparently at scale.
You can use @loch_chain to analyze any individual or protocol's earnings (Link below).
And thanks to these chads who have helped us navigate this market: @0xRemiss, @wajahat, @arndxt_xo, @0xTindorr, @rektdiomedes, @defitrader_, @Dynamo_Patrick, @crypto_linn, @2lambro, @AkadoSang, @CryptoShiro_, @TheDeFISaint, @TheDeFinvestor, @iambullsworth, @0xJok9r, @CryptoGideon_, @I_am_Subcaptain, @joeljohn, @hrojantorse.
Contro retweeted
It’s time to scrap AML / KYC entirely.
The idea that politicians should know how citizens spend their money is a new and deeply flawed idea.
An entire generation has been fooled into thinking this is a necessary part of finance and the world continues to double down on an unworkable system.
Only 30 years ago when I started my career as a stockbroker/ financial advisor I could call you on the phone and sell you MSFT or IBM stock and I did not need your DOB or your social security number. You didn’t even need to have money in the account.
The 1990s to the post 9-11 Patriot Act (which was a horrible law) saw a radical increase in AML /KYC requirements. These seem to get worse every year.
In my office when we were first required to take a drivers license, the older brokers were incredulous: “What do you mean we need an ID for someone buying stocks?!? What’s next, you need an ID to buy gas or groceries?”
Now, just 25 years later an entire generation thinks this is normal or how it should be. Worse yet, some think the system won’t work without it. The opposite is true — the compliance gums up the works and adds friction where it should not exist.
While the regulator class arrogantly acts as if AML KYC is their birthright and ending it is some sort of untouchable rail, the justifications are weak. Why do we have these regimes? To stop “money laundering”? What is that? Who is the victim? Is it to stop “human trafficking” or “terrorism”? If so, how? Is it to “stop” the 12,000 entities on the OFAC list by messing with the 2,000,000,000 people not on the list?
Are major criminals somehow stopped by this? Has it stopped crime? Even if it did, is it worth burdening millions of firms and billions of people with paperwork and procedures that slow down commerce? Shouldn’t efforts be made to go after the actual criminals rather than encumbering the entire world with an inefficient compliance regime?
Money must be able to flow and move. People must be able to take risks and make investments as they choose. This is the lifeblood of a solid economy and the jobs, growth, prosperity and peace that comes with it. The US (and by extension much of the world due to our influence) is sacrificing jobs, innovation and opportunities by chasing an extremely ineffective and indirect compliance regime.
The entire idea belongs back in the dumpster of history. Let the investigators chase terrorists & human traffickers for those actual crimes and let the other billions of us use and move our money as we wish.
