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This isn't a bad thing by the way Betting on UFC fights is a hyper-niche thing too; a very small percentage of the world does it It's just worth pointing out that this form of gambling won't ever be super mainstream

Many dismiss social value because we still can’t quantify it.  Both financial & utility value can be modeled, but social value really can’t. But it is real. @matt_levine wrote about a different form of social value last week - the “Pope Premium”

This is an extremely misinformed take IMO. The question of sequencer centralization is completely orthogonal to the collection of fees. An L2 is going to always charge fees in excess of what is being paid to the L1. The reason for this is because you may want to have some resource metering (e.g. congestion) fees in place, or you may want to implement a protocol to charge a form of priority fee like PGA or Timeboost. The collection of those fees is not the sequencer but rather the chain operator. I will use @arbitrum as an example, as I am most familiar with it. Arbitrum One (the main public Arbitrum chain) is operated and governed by the Arbitrum tokenholders. All chain fees, less reimbursement for L1 data posting, flow into treasury wallets controlled onchain by the token holders. These fees since the establishment of the DAO are in excess of $50m. That is the case irrespective of whether the sequencer is centralized or decentralized. The operator of the seuqencer does not get to keep these profits. Should the sequencer be decentralized the analysis would be exactly the same. The sequencer doesn't get to choose how much they get to keep. The market or a negotiated agreement will determine how much value the sequencer is entitled to and that can range from anything between 0%-100%. Chain operation today is a 90%+ gross profit margin business, and is a potentially extremely lucrative business. You don't NEED the sequencer to be decentralized for that to be the case.

RT @_ryanrconnor: Over the next 2-5 years nothing will hurt your portfolio more than assuming the crypto premium in its current form will…

Dragon's Hoard of Digital Gold: How $BTC, $ETH, and $SOL Form the Core Ingredients of a Resilient Investment Zongzi In ancient lore, dragons are legendary guardians of immense treasures – vast hoards of gold, jewels, and artifacts accumulated over millennia. This imagery resonates powerfully with the concept of building enduring wealth in the digital age. Just as these mythical beasts meticulously gather their riches, we too can craft our own "Dragon's Hoard" of digital gold, embodying resilience and potential. At the heart of such a hoard, forming the core ingredients of a truly robust investment "zongzi," are Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL). A zongzi, that delicious parcel of glutinous rice and fillings, represents a carefully assembled package of prosperity. When designed for resilience, it includes components that withstand time and pressure. Similarly, a crypto portfolio built with BTC, ETH, and SOL aims for long-term strength, weathering market fluctuations while capitalizing on innovation. The Foundation of the Hoard: $BTC – The Pure Digital Gold Standard Every legendary hoard begins with its most precious and unyielding element: pure gold. In the realm of digital assets, Bitcoin ($BTC) is unequivocally this digital gold. Conceived in the wake of a global financial crisis, BTC was designed as a decentralized, immutable, and scarce asset, serving as a direct counterpoint to inflationary fiat currencies. With its fixed supply of 21 million coins and a proven track record spanning over a decade, Bitcoin has solidified its position as the premier store of value in the cryptocurrency space. Incorporating $BTC into your investment zongzi is like securing the largest, most valuable gold nugget at its core. 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Adding $ETH to your investment zongzi infuses it with dynamic potential. Ethereum's ability to host complex smart contracts allows for entirely new financial systems and digital economies to flourish. Its ongoing evolution, particularly the shift to Proof-of-Stake, aims to make it more scalable and sustainable, enhancing its long-term value. These "jewels" of utility ensure your hoard isn't just static wealth, but a living, evolving collection of assets connected to the cutting edge of digital transformation. The Swift Gems: $SOL – The Agile Diamonds of Scalability Beyond traditional gold and established jewels, a truly magnificent hoard might include rare, swift-moving gems that embody speed and efficiency. Solana ($SOL) is this agile diamond, providing unparalleled scalability and performance to your digital wealth zongzi. Built for high transaction throughput and low costs, Solana aims to solve the "blockchain trilemma" (decentralization, security, and scalability) with innovative technology. Including $SOL in your hoard diversifies its resilience by introducing a rapidly growing, high-performance asset. It caters to the demands of real-time applications, large-scale gaming, and high-frequency trading, offering an alternative to slower, more congested networks. These "swift gems" provide flexibility and access to a rapidly expanding ecosystem that complements the strengths of BTC and ETH, ensuring your zongzi is not only robust but also capable of adapting and thriving in the fast-paced digital landscape. Forging a Resilient Hoard: The Dragon's Wisdom The wisdom of the dragon, in guarding its hoard, lies not just in accumulation but in strategic diversification and an understanding of each treasure's unique value. Building a resilient investment zongzi with $BTC, $ETH, and $SOL means: * Diversification for Strength: Combining the foundational stability of $BTC, the expansive utility of $ETH, and the high-performance agility of $SOL creates a balanced portfolio capable of navigating various market conditions and technological shifts. * Long-Term Vision: Like a dragon's centuries-long reign, this strategy emphasizes holding these core assets for the long term, allowing their intrinsic value and ecosystem growth to compound. * Adaptability: While foundational, this trio also represents the cutting edge of blockchain technology, allowing your hoard to remain relevant and grow as the digital landscape evolves. By consciously selecting $BTC as your digital gold, $ETH as your utility jewels, and $SOL as your swift gems, you are not just buying cryptocurrencies. You are carefully assembling a "Dragon's Hoard" of digital wealth, wrapping it into a resilient investment zongzi designed to endure, prosper, and grow through the ages, much like the timeless legends of the Dragon Boat Festival.