@AcronymFNDN ecosystem advocate // @ampdotxyz grant committee // @anvil_xyz protocol guardian // @spenders_club //

San Diego, CA
Joined December 2012
// immutablevalue ∎ retweeted
67 million is a drop in the bucket. What happens when it's 200m plus and everyone wants their digital assets to be more productive? Really great insights with @NatCryptoAssoc & @anvil_xyz
67 million Americans currently own crypto. According to @NatCryptoAssoc, they're not just engineers & traders, but construction workers, business owners, & everyday consumers. Yet much of that wealth remains disconnected from traditional financial services. Asset holders shouldn't have to liquidate their positions to secure financial commitments. It's time digital asset ownership translated into real financial flexibility.
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France once turned land-backed debt into everyday money, and it ended disastrously. In 1789, the revolutionary government created assignats: interest-bearing certificates backed by state lands, including property confiscated from the Church. The plan was for people to use them to buy that land, after which the government would retire the certificates. But in 1790, assignats became legal tender, and their interest payments were eventually eliminated. What began as something resembling a bond had become money. War and collapsing public finances undermined the arrangement. The government increasingly relied on issuing money without sufficient alternative revenue, and France suffered hyperinflation in 1795–1796. Banque de France’s historical analysis emphasizes that fiscal breakdown, not simply the existence of paper money, drove the disaster. The lesson: “backed by real assets” isn’t enough. You also need credible rules governing how claims are redeemed and how many can be issued.
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In 1963, lenders discovered that their collateral was mostly water. Anthony “Tino” DeAngelis ran Allied Crude Vegetable Oil Refining. His business borrowed against warehouse receipts, documents representing stored vegetable oil, and used financing to support large commodity-futures bets. But much of the oil on the paperwork didn’t exist. One trick involved tanks filled with water and a thin layer of soybean oil floating on top. After Allied filed for bankruptcy, an American Express warehousing subsidiary discovered the scale of the problem. A later federal court opinion reported that it had issued $100 million in receipts to Allied, but found only about $6 million worth of actual vegetable oil. The receipts looked like evidence of valuable assets. Their reliability depended on someone actually verifying what was inside those tanks. Collateral doesn’t eliminate trust. It shifts trust toward whoever proves the asset exists, controls it, and confirms it hasn’t been pledged elsewhere. Better paperwork cannot fix nonexistent backing.
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Just a reminder that the GENIUS act takes effect on January 18th, 2027. The great migration is about to begin. @anvil_xyz is uniquely positioned to see massive inflows from this movement. NFA, but I know what I'm doing: stacking ethereum:0xaeeaa594e7dc112d67b8547fe9767a02c15b5597 .
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n 1609, Amsterdam had plenty of money. The problem was figuring out what it was worth. International trade brought a jumble of coins with different weights and precious-metal content. Settling a payment could mean assessing the coins themselves, not simply counting them. The city established the Wisselbank. Merchants deposited coins and received balances in the bank’s ledger. Paying another account holder meant transferring those balances rather than moving bags of metal across town. The surprising part is that bank money eventually traded at a premium to ordinary coins. Merchants would pay extra for a balance they couldn’t physically hold because it offered a more reliable way to settle payments. Amsterdam didn’t invent cashless payments, but it demonstrated something modern: the system that moves money can make it more valuable than the physical money itself.
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// immutablevalue ∎ retweeted
Capitalism has a win condition. Socialism does not. Here's why, explained so simply a 10-year-old could get it. It starts with a book written in 1944 by an Austrian economist named Friedrich Hayek: The Road to Serfdom.
Capitalism has a win condition. Socialism does not. Here's why, explained so simply a 10-year-old could get it. It starts with a book written in 1944 by an Austrian economist named Friedrich Hayek: The Road to Serfdom. Imagine a classroom of 30 kids. One day the teacher says: "From now on, I decide what everyone eats for lunch, which games you play at recess, and who sits next to whom. It's fairer that way." First problem: the teacher doesn't know what you like. You hate carrots. Your friend is allergic to peanuts. Lucas wants to play football, Emma wants to draw. 30 kids, 30 different wishes. Nobody can know all of that, not even the smartest teacher on Earth. Hayek called this the knowledge problem. The information needed to run an economy is scattered across millions of heads, and it can't be gathered in one office. Second problem: the kids start fighting. "Why does he get the window seat?" "Why football again?" Before, everyone just chose for themselves. Now every choice is a fight, because every choice is made for everyone. Third problem: the class can't agree on a plan, so someone says "we need one person in charge who just decides." This is Hayek's key insight. Planning doesn't fail because planners are evil. A plan needs everyone to agree on the same goals, and free people never agree on everything. So the plan needs force to work. Fourth problem, and it's the scariest one: who wants that job? The kind kid doesn't want it, because the kind kid doesn't want to force 29 people to eat carrots. The job attracts the one who likes giving orders and doesn't mind punishing those who disobey. Hayek wrote a whole chapter on this, called "Why the Worst Get on Top." It doesn't happen by accident. It happens by selection. Here's the trap. When the person who controls your lunch also controls your job, your home, your shop and your newspaper, they control your whole life. You can't say no, because there's nowhere else to go. Controlling the economy doesn't mean controlling one part of life. It means controlling the means to every goal you have. That's the road to serfdom. Nobody votes for a dictator. People vote for "someone should fix this," then for "give them more power to fix it," and one day they wake up with no one left to say no to. The USSR, Maoist China, Cambodia, North Korea, Cuba, Venezuela. These are different countries with different cultures and languages, and the story has the same ending every time. When a script produces the same ending every time, it isn't bad luck. It's the script. Now capitalism. Back to the classroom. Instead of one teacher deciding everything, every kid can trade. You give me your carrots, I give you my apple, and we both walk away happier. Nobody needs to know what everyone wants, because prices do that job. A price is a message telling millions of strangers what's scarce and what's wanted, with no one in charge. That's the win condition. In capitalism, you get rich by making something other people freely choose to buy, so your success depends on serving others. In a planned system, you get ahead by pleasing whoever holds power. One rewards usefulness. The other rewards obedience. And this isn't theory. Two centuries ago, almost every human being was extremely poor. In 1990, about 38% of humanity still lived in extreme poverty. Today it's under 10%. More than a billion people escaped it in a single generation. It happened when China, India, Vietnam and South Korea opened up to markets, trade and private enterprise. The largest reduction in poverty in human history came from letting people trade. So why do so many people hate capitalism? Because what they hate usually isn't capitalism. They hate the bank that got bailed out with their taxes while they lost their house. They hate the giant company that writes the regulations so no startup can compete with it. They hate rent they can't afford because building new homes has been made nearly impossible. They hate the lobbyist who gets a subsidy while the small business owner drowns in paperwork. Look closely at each one, and you'll find a state handing out privileges. A bailout is not the market. The market would have let the bank fail. A regulation written by incumbents is not competition. It's protection from competition. None of this is capitalism. It's cronyism, which is what happens when businesses stop competing for customers and start competing for politicians. People see the symptom and blame the wrong cause. They say "capitalism failed" and ask for more state. That gives more power to the same people who created the problem, and it puts us right back on Hayek's road. The answer to bad capitalism isn't less freedom. It's less privilege. That means fewer bailouts, fewer protected incumbents, fewer permits, and more people allowed to build, compete and trade. Capitalism has a win condition: make things people want. Socialism has an end condition: someone has to be in charge. And history keeps showing us who ends up in that chair.
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When postage stamps became pocket change. By summer 1862, Civil War-era coins had become scarce as Americans held onto them. Stamps helped fill the gap, but they crumpled and stuck together. That August, the Treasury began issuing “postage currency”: stamp designs printed on larger, thicker paper without adhesive, in denominations of 5, 10, 25, and 50 cents. Later issues dropped the stamp imagery, and fractional paper currency continued through 1876. The takeaway is that money needs to work physically as well as financially. A recognizable value isn’t enough if the payment medium cannot survive repeated handling or provide convenient change. Sometimes monetary innovation begins with a very ordinary problem: making a small purchase.
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// immutablevalue ∎ retweeted
Stablecoins aren't just entering the financial mainstream, they're becoming a priority across the industry. At @money2020, @m_at_anvil, @Akhparty, & others connected with everyone from payment processors & VC firms to fintech platforms & more through interviews, meetings, & partnership discussions. Across these conversations, one trend was clear: even the most traditional companies are exploring how to adopt onchain value. As this adoption accelerates, so does the demand for infrastructure that makes digital assets usable across existing financial workflows. The timing couldn't be better for Anvil. 🛠️
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Before stock tickers, Osaka sent market prices by flags. In Japan’s Edo period, feudal domains collected taxes in rice, then sold it through warehouse auctions. Buyers received bills redeemable for rice, and those bills became tradable. In 1730, the shogunate officially authorized the Dojima Rice Exchange, with both a market for rice bills and a futures market recorded in account books. Membership rules and a clearing function helped organize trading. Prices traveled hundreds of kilometers by courier and flag signals. The striking part isn’t just that people traded rice on paper. It’s that a market needed ways to settle obligations and distribute prices. Finance’s supporting infrastructure can matter as much as its cleverest contract.
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// immutablevalue ∎ retweeted
"I didn't qualify for the lowest rate, despite saying I had the highest credit score he's ever seen. I didn't have enough debt to qualify. A system that says you're not in debt enough to get a lower rate is backwards. Conviction ep. 5 with @m_at_anvil hosted by @cryptosmiff 00:00 Not enough debt to qualify 04:08 How Max ended up running Anvil 06:35 When "blockchain" was a marketing term 13:37 Why Anvil built on Ethereum anyway 20:31 Digital letters of credit, explained 25:45 Promises, not payments 28:03 Why your rate pays for other people's defaults 31:35 What he wants to be right about in 20 years 34:18 The 850 credit score that didn't
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All you need to to do is hold infra and chill
JUST IN: 🇺🇸 US officially finalizes new crypto stablecoin regulations under the GENIUS Act.
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// immutablevalue ∎ retweeted
JUST IN: 🇺🇸 US officially finalizes new crypto stablecoin regulations under the GENIUS Act.
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The U.S. once printed dollars with a wartime “off switch.” In 1942, it replaced regular currency in Hawaii with special $1, $5, $10, and $20 notes stamped “HAWAII.” The reason wasn’t local pride: if enemy forces occupied the islands, the U.S. could declare those identifiable notes worthless. The notes wouldn’t automatically stop working. The markings made it possible to invalidate that particular currency without invalidating everyone else’s dollars. Think of it as financial containment printed onto cash. Capturing the banknotes wouldn’t necessarily mean capturing their spending power. Money’s value depended on its continued recognition, not simply possession of the paper.
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// immutablevalue ∎ retweeted
Stablecoin issuers held roughly $153 billion in US Treasury bills at the end of 2025. That means onchain dollars are no longer isolated from traditional markets. They are becoming meaningful participants in government funding and short term liquidity. Source: bis.org/publications/working…
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// immutablevalue ∎ retweeted
"You go to a bank and say, 'Hey, I have this PSA 10 Illustrator Pikachu.' They have no idea what you're talking about. But if it's truly worth that and it's liquid, why not? It's in their interest to absolutely give you a loan based on these things." Tokenization of alternative assets could open the door to making almost ANYTHING collateral, even your Pokémon cards!
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$ANVL holding strong, almost time for the next leg up ⚡️
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Wow, @coinbase MCP is legit. Why was I not using this sooner?! 🫠
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Yale owns a piece of goatskin from 1648 that still earns interest. A Dutch water board issued the bond to fund river works, promising interest indefinitely. Centuries later, the obligation hadn’t expired. In 2015, a Yale curator traveled to the Netherlands and collected €136.20 in accumulated interest. The strangest part is the paperwork. Payments were originally recorded directly on the goatskin. By 1944, they had run out of room and added a paper extension. That also solved a museum problem: Yale generally wouldn’t let the historic document leave its library just to collect money. The newer paper extension could travel instead. A financial promise had outlived its writing space. The artifact wasn’t merely evidence of an old debt; it was still getting paid.
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Imagine having lending markets in Anvil. You could supply time-locked $USDC to earn yield from Flexa users paying with BNPL. Flexa would draw from the USDC pool to make instant payments. User would pay back over time or their collateral would get claimed to pay back the pool. The fees for the payment go to ethereum:0xff20817765cb7f73d4bde2e66e067e58d11095c2 pledgers, and fees for the lending go to lenders and a small portion to the protocol? Why rely on traditional lenders? Let the people earn higher yield on their vault assets. Bullish on ethereum:0xaeeaa594e7dc112d67b8547fe9767a02c15b5597 and $AMP
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Is @FlexaHQ integrating @anvil_xyz to offer BNPL backed by crypto to any merchant that wants to turn it on? I think they might be 👀 ethereum:0xff20817765cb7f73d4bde2e66e067e58d11095c2 ethereum:0xaeeaa594e7dc112d67b8547fe9767a02c15b5597
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