Peter Thiel's holdings. $PLTR $BMNR $BLSH (IPO) $ATNF

For the love of god and Satoshi, we don’t need any more L1s! And we really don’t need L1s for stablecoins. They won’t have other desirable assets, so no DeFi. They’ll be single stablecoin (from the creator) so no interop. They’ll only utility for their native coin will be to pay fees, so low value and little economic security.

Qubic just reached 51% share of Monero. This is a huge feat. They will be the first to manipulate a cryptocurrency with a 51% attack. They intend to orphan all blocks from every other miner, making themselves the only mining entity of Monero. The only way to mine Monero will be through them and they are 3X more profitable than mining Monero directly. They are giving half the profit to miners and selling the other half of the profit to buy QUBIC and send it to the burn wallet. If they mine 100% of the Monero blocks this gives them 432 Monero mined per day. This is $118,342.08 at the current Monero price. They keep 50% of that and give the rest to miners making their profit $59,171.04 of Qubic being burned every day. $414,197.28 burned a week and $1.656 million burned every month. This is insane. This is history being made here. Qubic a less than 300 million dollar market cap will be the sole miner of a 6 billion dollar market cap coin.

After meeting with several EF people at ETH SF, I'm more optimistic about Ethereum. There's a real urgency and an understanding that things need to change. It's not 2020 anymore, and they get it—they want Ethereum to matter. They're taking input from investors, from builders, and they're noodling how to replicate the success of Solana's @superteam within the Ethereum ecosystem. Less focus on research and the academy, and more focus on capital formation and founder journeys. I can sense a lot less "not invented here" syndrome. Ethereum leadership have been getting a lot of criticism, and it's important that you all know this—it's working. They're listening. They're thinking hard about how to adapt. It's a teachable moment for them. Keep sharing your opinions. They're being heard. I'm bullish.