Musings on Technology
A personal collection of notes, reflections, and essays on technology, finance, and building — written over the years as I made sense of the ideas shaping our industry.
Bitcoin at $8,000: The Narrative Shifts Again
Bitcoin has doubled from its December lows. The narrative is shifting from 'crypto is dead' to 'crypto is back.' Neither was accurate. The technology never died, and the recovery is not a return to 2017. It is something different — and potentially more durable.
The Binance Hack and the Reorg Debate
Binance lost $40 million in a security breach. CZ briefly considered asking Bitcoin miners to reorganise the chain to reverse the theft. The idea was rejected — but the fact that it was considered reveals uncomfortable truths about the concentration of power in crypto.
The DAO Governance Problem Nobody Wants to Solve
Decentralised autonomous organisations promise governance without hierarchy. In practice, they suffer from voter apathy, plutocracy, and the inability to make hard decisions quickly. The governance problem is not technical — it is human.
The Staking Economy Emerges
As Proof of Stake networks launch and mature, a new economic layer is forming: the staking economy. Validators, delegation services, and staking-as-a-service providers are creating an infrastructure layer that will define how capital participates in PoS networks.
Bitcoin Rallies Past $5,000 — Is the Bear Market Over?
Bitcoin surged past $5,000 in a single day, catching most of the market off guard. The move is significant, but declaring the bear market over based on a single rally is exactly the kind of premature conclusion that leads to poor decisions.
Why Crypto Lending Is the Quiet Killer App
While the market debates price predictions, crypto lending is quietly becoming the first DeFi use case with genuine product-market fit. Compound, Dharma, and BlockFi are proving that earning yield on crypto assets is a real, sustainable business.
The SEC Token Framework Finally Arrives
The SEC's long-awaited framework for digital asset securities is here. It is not perfect, but it is specific — and specificity is what the industry needed. For the first time, builders have a concrete rubric for evaluating whether their token is a security.
JPMorgan Launches JPM Coin — What It Means and What It Doesn't
JPMorgan — the bank whose CEO called Bitcoin a fraud — is launching its own digital token. JPM Coin is not a cryptocurrency. It is a settlement tool for institutional clients. But its existence validates the thesis that tokenised money is the future of financial plumbing.
The DeFi Stack Is Taking Shape
Lending, trading, stablecoins, and derivatives are converging into a composable financial stack on Ethereum. For the first time, the pieces fit together — and the implications for financial infrastructure are profound.
The QuadrigaCX Collapse: Why 'Not Your Keys, Not Your Coins' Is Not Enough
The death of QuadrigaCX's founder — and the $190 million in customer funds locked in wallets only he could access — is a catastrophic failure of custody, governance, and operational controls. Self-custody is part of the answer. But the real lesson is about infrastructure.