Teemu π @teemupai Twitter profile

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Teemu π

@teemupai

6 years

1) We are in the strangest market right now in crypto. Many seed valuations are north of 200M, yet the market has been in decline for months and seemingly no one is doing ICOs anymore so the quick exit is gone. What's going on?

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Teemu π

@teemupai

5 years

Today we at Equilibrium Labs are excited to announce that @Ripple Xpring has invested in Equilibrium Connect. The new company will be focused on developing the Interledger Protocol. Read on to understand why @Interledger and what we're doing with it.

Announcing Xpring’s Investment In Equilibrium Connect

We are very excited to announce that Ripple’s Xpring has invested in newly created Equilibrium Connect…

medium.com

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Teemu π

@teemupai

6 years

I would start listening to the people screaming bubble when there are a number of people in the top 100 richest people in the world on the backs of cryptos that have no actual usage. I.e. Now.

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Teemu π

@teemupai

2 years

You know what says a lot about Ethereum and Solana? The fact that @VitalikButerin & @aeyakovenko could actually sit down and have a reasonable discussion.

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Teemu π

@teemupai

6 years

It’s kind of depressing how much attention the price of #bitcoin gets, while people all over the world work on potentially earth-changing applications for blockchain technology. I’m waiting for everyone to get *as* excited about the potential impact as they are about a X% return.

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Teemu π

@teemupai

6 years

8) One area where I think there are a few use-cases like this is financial tools: Derivatives - @dydxprotocol Decentralised exchange - @0xProject Stablecoins/loans - @MakerDAO These are all examples of things that don't inherently *require* scalability to function.

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Teemu π

@teemupai

3 years

Synthetic tokenised assets turn Fi into DeFi and I suspect we’ll never go back. Imagine every stock in the world available on @UniswapProtocol via @synthetix_io & @UMAprotocol , with lending markets on @AaveAave & @CompoundVC and in use as collateral in @MakerDAO 👀

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Teemu π

@teemupai

6 years

13) Investors need to understand the risk they are taking. There are no safe crypto investments, period. Every investment, even Ethereum and Bitcoin, is at most equivalent to Series A-C and most are pre-seed at best... Be careful and play the long game.

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Teemu π

@teemupai

6 years

10) Examples of projects like this are: Smart contract upgradeability - @zeppelin_os Decentralised github - @oscoin Governance & Upgradeability - @AragonProject These again will only ultimately be successful if blockchains scale, but also serve the experimentation period.

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Teemu π

@teemupai

4 years

Truly decentralised cross-chain exchange is an existential necessity for crypto.

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Teemu π

@teemupai

6 years

6) Proof-of-stake, sharding, payment channels, plasma are all highly experimental technologies. Anyone expecting these to suddenly in the near future allow for orders of magnitude improvements on scalability is out of their mind. Scaling will be a slow process.

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Teemu π

@teemupai

5 years

Breaking news from twitter-hiatus-land: Twitter users in near constant state of outrage over X, where X can be any subject being discussed on twitter. Experts (on twitter) are concerned about the emotional toll this may be having on individuals, causing outrage on twitter. 😂

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Teemu π

@teemupai

3 years

Anyone else pleasantly surprised that @mcuban has actually done his homework regarding #Ethereum and its implications?

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Teemu π

@teemupai

6 years

5) Basically we are currently in a situation where Ethereum needs to scale and soon. If it doesn't 90% of all promised use-cases are unattainable for the time-being. Personally I think it is highly unlikely Ethereum will scale to the extent people are hoping in the near future.

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Teemu π

@teemupai

3 years

I think many people are underestimating the impact of #Ethereum moving quickly to PoS. PoS essentially solves scalability for the current needs of the market on a chain that is already being used a lot more than any other chain including Bitcoin. I hope we pull it off!

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Teemu π

@teemupai

3 years

The proposed #Ethereum quick merge to PoS by Vitalik is the most exciting thing happening in crypto. Let’s do this guys. Fuck the miners.

Quick merge via fork choice change - HackMD

# Quick merge via fork choice change The goal of this document is to describe a mechanism by which

notes.ethereum.org

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Teemu π

@teemupai

6 years

3) This all comes right as the scaling debate has risen to prominence and most devs have understood that crypto, as it is today, is unusable for mainstream applications. Granted there are off-chain options for scaling, but that means a considerable sacrifice in decentralisation.

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Teemu π

@teemupai

3 years

What the actual fuck. So Dfinity is creating a "public cloud" owned entirely by the team and a small group of VCs. From:

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Teemu π

@teemupai

6 years

7) But this was to be expected. These constraints have been known for a long time and a lot of smart people are working on this problem. In the short term, I would look for specific products which don't require high scalability to deliver a basic use-case.

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Teemu π

@teemupai

2 years

Everyone seems to pretty much think the world is going to end. The issues we face are definitely real, but there is also a lot to be optimistic about. We *already* have the technology to solve most of our problems. We just haven’t had time to implement them at scale yet.

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Teemu π

@teemupai

6 years

2) Many companies are also raising more capital right after closing their previous round. This seems like they are preparing for a long winter and are trying to milk whatever remaining FOMO there is for all it's worth. This does not spell good things for investors.

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Teemu π

@teemupai

6 years

12) I would be wary of projects declaring that they will build highly scalable platforms of any kind (computation/payments/etc) unless they are planning to significantly compromise on decentralisation. In which case, I would also be wary because AWS scales pretty darn well.

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Teemu π

@teemupai

6 years

One of the coolest things about #cryptocurrency is that I’m now regularly meeting 15 year olds who are highly technical and understand economics, game theory, geopolitics, securities law, trading, etc. Theres an entire generation growing up for whom these subjects will be easy!

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Teemu π

@teemupai

6 years

9) Another area is development tools. The tooling in this industry is still in the stone age and there are plenty of opportunities to build helpful things which can capture immense amounts of usage from the people experimenting with these technologies.

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Teemu π

@teemupai

2 years

Now that we have access to technology to fake text, voice, video, public private key cryptography will become ever more important as a way to verify authenticity.

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Teemu π

@teemupai

3 years

The code collaboration model of @radicle is actually really clever. Its basically a p2p social graph like Secure Scuttlebutt for the collab part but then layers a #Ethereum based registry on top of that for single source of truth. More depth->

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Teemu π

@teemupai

6 years

I just published "Political Differentiation In Protocols: Avoiding A Capitalist Dystopia", where I describe why I think cryptocurrencies will need to take sides on political issues. Let me know what you think.

Political Differentiation In Protocols

Avoiding A Capitalist Dystopia

medium.com

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Teemu π

@teemupai

6 years

13) Having said that, someone building a scalable something will probably succeed, but it will be extremely hard to identify which project will achieve this. @ethereum has some of the best minds in the industry and if they are struggling, so will everyone else (I think).

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Teemu π

@teemupai

6 years

Is there a monetary policy think tank for crypto already? Seems like something worth funding.

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Teemu π

@teemupai

6 years

1) Governance is often cited as one of the most pressing problems in crypto-economic networks. However, we currently have almost no ability to create and experiment with different models.

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Teemu π

@teemupai

3 months

So excited to partner with @jessewldn @AlanaDLevin and all the great folks at @variantfund When I started chatting to them, literally no one had thought much about decentralized proving and it took time to build up intuition for the design space. Now it looks obvious.

Gevulot

@gevulot_network

3 months

We are excited to announce our $6M seed round led by @variantfund with participation from @Rockaway_X @VoltCapital @StakingFac & more. We are also launching the Gevulot devnet March 25th in collaboration w/ @_Supranational & @P2Pvalidator Sign up: 🧵👇

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Teemu π

@teemupai

1 year

As some of you may have noticed, @EUROemoney announced the first EU regulated EUR stablecoin today. We started this journey at @equilibrium_co with @juhaviitala almost two years ago and while this is just the beginning, I'd like to share some of the journey so far. 🧵

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Teemu π

@teemupai

6 years

For anyone interested in getting into the crypto industry, I highly recommend going to hackathons over the lame shmoozefests that are regular conferences.

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Teemu π

@teemupai

3 years

As many of you know, I fully agree with this analysis. Valuation for #Ethereum is very low considering it is far and away the most used (and most useful) blockchain on the planet right now.

Chris Burniske

@cburniske

3 years

Analyzing past multiples of network revenue, @CryptoHayes is telling us $10K is too conservative for $ETH...

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Teemu π

@teemupai

3 years

Arguing that #Ethereum or #Bitcoin is going to fail because transaction fees are high is like arguing that a new iPhone is going to fail because everyone is competing to buy one.

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Teemu π

@teemupai

1 year

So LastPass was hacked. Can we move to sign in with #Ethereum already please?

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Teemu π

@teemupai

6 years

11) So how should one think about this market? The same way one thinks about any highly speculative investments. Crypto is a big experiment and will hopefully "work" in the long run, but the road to get there is far from clear. These are venture investments.

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Teemu π

@teemupai

2 months

The @gevulot_network stress tests are getting serious. 10K+ proofs in 24 hours. All systems running smoothly. Devnet launches tomorrow!

Teemu π

@teemupai

2 months

Watching the @gevulot_network dashboard during internal stress testing is pretty therapeutic. Real numbers from the past 2-3 days.

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Teemu π

@teemupai

1 year

These are very valid points. Unfortunately removal of fractional reserve banking equals collapse of the global economy. What we need is more transparency, not less liquidity.

Ben Hunt

@EpsilonTheory

1 year

Without the fractional reserve banking system, credit would only be available to the already rich. Mortgages, auto loans, credit cards, student loans, start-up loans … all of these would no longer be available if you moved to a fixed reserve banking system.

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Teemu π

@teemupai

3 years

Everyone's all excited about the hype around #NFT but the world hasn't yet caught up to #DeFi .

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Teemu π

@teemupai

1 year

Exchanges that don’t use customer funds for dubious things, would honestly rather you self custody. Custody is a pain in the ass for them as well.

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Teemu π

@teemupai

3 years

@rohamg have you talked to any esports orgs about creating something like @nba_topshot ? Tens of millions of internet and tech savvy viewers who are used to trading skins and whatnot. I have a few esports moments I would definitely try to buy myself :)

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Teemu π

@teemupai

7 years

Finally getting to publish ”Thin Protocols” - my predictions for how protocols will evolve. Check it out:

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Teemu π

@teemupai

2 years

ffs can we get a viable metamask competitor already? plz #Ethereum community. We suffering.

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Teemu π

@teemupai

3 years

We are very close to being able to build truly private decentralised applications, which will unlock a whole new frontier for experimentation. It will be massively controversial, but ultimately unstoppable.

Teemu π

@teemupai

3 years

Private computation is the future. Get ready.

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Teemu π

@teemupai

3 years

All technological and social systems should be designed to fail elegantly.

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Teemu π

@teemupai

3 years

Cryptoprices are inversely correlated with productivity.

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Teemu π

@teemupai

4 years

We're looking for Rust developers to work on open source protocols like #ipfs #interledger #orbitdb etc!

jantto

@ottnaj

4 years

Want to work at the forefront of latest distributed tech? We've got two new remote positions at @equilibrium_co , be sure to check them out at !

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Teemu π

@teemupai

6 years

10) It may seem strange to invest in things that still rely on scalability working out to be successful, but that's what is available right now. Trading and building are two things that people are *actually* doing right now.

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Teemu π

@teemupai

6 years

In the flood of new stable coin proposals, I completely forgot how cool the @MakerDAO system for Dai is. If you've never read the whitepaper, read it. It's a brilliant example of clever crypto-economic design.

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Teemu π

@teemupai

3 years

A problematic truth that will have a profound impact when #cryptocurrency reaches scale is that the initial distribution of many foundational projects was highly unfair and greatly favored a select few.

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Teemu π

@teemupai

5 years

Things get really weird when deploying your own blockchain is as easy as creating an ERC20.

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Teemu π

@teemupai

1 year

Sharding harms the one usecase where blockchains have product market fit: finance. Also these arguments around solana not being decentralized just because it has slightly higher HW reqs are so meh…the whole world economy is not going to run on laptops/mobile. Sorry.

Justin Bons

@Justin_Bons

1 year

I do not see the point in Solana long-term It might be scalable now due to it making dangerous trade-offs against decentralization However, SOL will never be able to compete with truly sharded blockchains As these achieve greater scalability while preserving decentralization

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Teemu π

@teemupai

4 years

Crypto cannot fulfill the promise of programmable money unless there is a way to send value across networks as easily as you send data. We’ve built the first cities. Now we need roads.

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Teemu π

@teemupai

6 years

@mhass33 Winters are great for real builders. Invest in them :)

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Teemu π

@teemupai

26 days

OH: "It's okay, I verified it on Gevulot."

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Teemu π

@teemupai

2 years

You know Ethereum is currently the bridge to everything, right?

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Teemu π

@teemupai

2 months

Mhmm...

Gevulot

@gevulot_network

2 months

🔥🔥🔥GEVULOT DEVNET IS LIVE🔥🔥🔥 - Deploy arbitrary provers and verifiers. - Run workloads to generate and verify proofs. - Free for registered users. It's there. You can start using it. Get started:

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Teemu π

@teemupai

4 years

We’re building a new digital nation on the internet. It is the single largest and most powerful human collective ever gathered. It will continue to grow along with the children of the internet and eventually bring the entire population online. But wait, who’s in charge?

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Teemu π

@teemupai

3 months

If you are affected by the @0xPolygonLabs layoffs and want to take on new cahellenges in low level protocol engineering @gevulot_network is hiring to decentralize proving. DM me!

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Teemu π

@teemupai

6 years

Scaling debate in the spotlight again due to digital cats. We probably need to figure this out before someone puts #pokemon on ethereum...

roham

@roham

6 years

The top two @CryptoKitties contracts now account for 24% of all transactions on the Ethereum network 🇨🇦 Working actively on scaling solutions, community expertise welcome @VitalikButerin @VladZamfir @ethereumproject

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Teemu π

@teemupai

3 years

This is such an important post from @VitalikButerin . Public goods funding is very tricky and ultimately relies on the #Ethereum community demanding that projects they use participate in it.

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Teemu π

@teemupai

1 year

Very exciting day! @equilibrium_co portfolio company @elusivprivacy launched launched private payments on #solana mainnet. I sent SOL privately to a friend. It took a few seconds and cost $0.008 in fees. Wild. 🤯 I'll send 5 SOL privately to a random person who retweets this!

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Teemu π

@teemupai

6 years

My hotel in Prague has a #Bitcoin atm. That’s a pretty encouraging start to #DevCon4

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Teemu π

@teemupai

6 years

@mhass33 Stay lean and flexible. Keep burn low. Build things that work today. Crypto has gone through this before and there aren’t any special strategies. It’s just basic capital/runway management.

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Teemu π

@teemupai

3 years

This is very exciting indeed! @equilibrium_co will be implementing a StarkNet full node in #rustlang (of course) 🚀

Uri Kolodny

@ukolodny

3 years

What's better than one full node implementation for #StarkNet ? Well, two full nodes. The @equilibrium_co team are starting to build another #StarkNet full node - in addition to the #Fermion full node being built by the @ErigonEth powerhouse!

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Teemu π

@teemupai

1 year

Has anyone mentioned to the SEC that ChatGPT session tokens may in fact be securities?

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Teemu π

@teemupai

2 months

I miss the early Ethereum days when every week/month someone would propose some completely insane new crypto-economic design. Everything is so practical now and thats good, but I wish I could relive some late night whitepaper reading sessions from back then.

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Teemu π

@teemupai

8 months

New episode of The Spelunking Podcast just dropped. @stskeeps joined me and @ArgesRic to discuss @cartesiproject , @RiscZero , Linux and the future of expressive compute on blockchains. Check it out:

The Spelunking Podcast #20: Carsten Munk - Cartesi, Risc0 & Linux

Ricardo, Teemu and Carsten discuss Cartesi, Risc0, Linux and the future of expressive computation on blockchains.

www.youtube.com

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Teemu π

@teemupai

2 years

Microwave knows whats up.

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Teemu π

@teemupai

2 years

You’re a pattern.

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Teemu π

@teemupai

5 years

Today I'm going to shill, but for good reason. @hajanetworks just released their Ambients Protocol paper and I think it's far and away the most important paper to come out this year. Bold statement. I'll elaborate:

Re-decentralizing the Web

The current web is in trouble. To re-decentralize the web, we present the Ambients protocol — a novel protocol for distributed computation.

medium.com

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Teemu π

@teemupai

2 months

All right. That's 20K+ proofs over 48 hours in @gevulot_network stress tests. It's time to launch! P.s. we'll be releasing the dashboard/explorer tool I'm using later in the week.

Teemu π

@teemupai

2 months

The @gevulot_network stress tests are getting serious. 10K+ proofs in 24 hours. All systems running smoothly. Devnet launches tomorrow!

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Teemu π

@teemupai

6 years

I highly recommend taking a look at @Interledger - it's a platform agnostic payment protocol *without* a token. Thank god.

Evan Schwartz

@_emschwartz

6 years

I just published “Interledger: How to Interconnect All Blockchains and Value Networks”

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Teemu π

@teemupai

6 years

Excited to be investing in the seed round of Haja and thus in the future of OrbitDB!

Haja Networks

@hajanetworks

6 years

We have raised seed funding! Read the announcement at . We're extremely excited to be working with @OVioHQ @polychaincap @creathorventure and @BigchainDB !

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Teemu π

@teemupai

3 years

Finnish customs has almost 2000 #Bitcoin that they are going to auction soon. Should I co-ordinate a syndicate to buy them?

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Teemu π

@teemupai

10 months

I’ve said it on The Spelunking Podcast and I’ll say it again now. I think @Filecoin subnets offering a combo of security and file storage may be the best offering for L2s on the market right now.

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Teemu π

@teemupai

6 years

When it comes to market crashes, a good heuristic is: It’s not over until even true believers begin to lose their shit.

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Teemu π

@teemupai

3 years

@MrSumfing Nah dude. Sentiment isn’t even close to the widescale mania/psychosis that is a regular feature of peak prices in a cryptobubble.

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Teemu π

@teemupai

1 year

Finally, there are interesting new technology things happening in crypto again. I love bear markets. Here's a few which I think have entire rabbit holes we'll get to go down in the next few years. 🧵 #Ethereum #Solana #Layer2 #Flashbots

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Teemu π

@teemupai

3 years

You always think you need a role, but you eventually discover you needed a person :)

Shane Curran

@arcurn

3 years

Hire people, not roles

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Teemu π

@teemupai

5 years

For those of you feeling down about the prospects of blockchain: don't worry. Changing the world takes time. In the meantime some advice I got from @AdamDraper a long time ago, which I frankly didn't appreciate enough at the time: Be a cockroach.

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Teemu π

@teemupai

2 months

Decentralized proving for *everything* is here.

Gevulot

@gevulot_network

2 months

🔥🔥🔥GEVULOT DEVNET IS LIVE🔥🔥🔥 - Deploy arbitrary provers and verifiers. - Run workloads to generate and verify proofs. - Free for registered users. It's there. You can start using it. Get started:

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Teemu π

@teemupai

3 years

Today the @VanillaDeFi core team is incredibly excited to present to you the Vanilla v2 Litepaper! "Vanilla is a decentralized asset manager, which uses a self-improving incentive mechanism to crowdsource and curate actionable trading signal." TL:DR >

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Teemu π

@teemupai

3 years

Great piece from @kaiynne - highlight for me is acknowledging burnout. Great things happen when you can comfortably maintain a pace indefinitely. Burning out helps no one. Ignore the hustleporn. Create a situation where the ride is enjoyable.

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Teemu π

@teemupai

3 months

The vision for @gevulot_network

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Teemu π

@teemupai

2 months

Get your @Starknet @zksync @0xPolygon @aztecnetwork @Scroll_ZKP @taikoxyz etc etc provers ready. It's almost go time!

Gevulot

@gevulot_network

2 months

Instructions on how to run a local Gevulot prover node have now been released. Start developing for Gevulot TODAY.

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Teemu π

@teemupai

6 years

Very well written article on wealth and money, which calls into question many of our intuitive reactions to accumulating either.

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Teemu π

@teemupai

5 years

Let's be clear, I have been on twitter for years and have definitely been way too deep in many emotional debates, but now looking at it from the outside I can't help but feel like it's completely unproductive. Now it just looks like an infinite emotional loop everyone is on.

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Teemu π

@teemupai

2 years

Just FYI @equilibrium_co will continue to invest and build in web3. In fact, we’ll probably start ramping up early stage investments considerably over the next 2 years. Many VCs will leave, but trust me, there is plenty of capital available to get useful things built.

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Teemu π

@teemupai

5 years

In other words, it needs to be a pure protocol, like TCP or email. This is why we like Interledger so much: it is a generic protocol and Ripple cannot control it anymore than Google can control email. I think this was an incredibly wise design choice by @Ripple

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Teemu π

@teemupai

6 years

@mhass33 Completely agree. We aren’t in winter until even hardcore believers start to lose hope.

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Teemu π

@teemupai

4 years

Even in these extraordinary times, the development of the distributed web does not stop. We at @equilibrium_co are very excited to announce Rust IPFS. Onwards.

Equilibrium

@equilibrium_co

4 years

Today we are very excited announce a new project and associated grant from @protocollabs : A #Rust implementation of #IPFS . Read about our development roadmap here:

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Teemu π

@teemupai

2 months

It begins on monday @gevulot_network

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Teemu π

@teemupai

6 years

This is epic.

Cloudflare

@Cloudflare

6 years

Cloudflare goes InterPlanetary - Introducing Cloudflare’s IPFS Gateway

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Teemu π

@teemupai

3 months

Seeing more zk projects going really low in the computing stack. People are exploring proving new instruction sets, sql queries, even TLS. The viability of these ideas often depends on one thing: the cost of proving. @gevulot_network will make many new things viable 👀

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Teemu π

@teemupai

3 years

One of the most fascinating things to observe in the #ethereum community is how ideas are conceived in multiple individuals/groups in parallel and then spread like wildfire. It’s much more visible in this industry because much more of the work is done out in the open.

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Teemu π

@teemupai

2 years

To people railing on @elonmusk for adding a subscription fee to the blue check: Please consider that if we pay directly for twitter, they have way more freedom to build the product *we* want vs the product that advertisers want. Free services are not services designed for you.

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Teemu π

@teemupai

5 years

I genuinely can't recommend taking a break from social media enough. Even if just to see how many times a day you check your phone. On that note, I shall return to my no-social-media world, where I can mostly convince myself algorithms aren't in control of my emotions.

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Teemu π

@teemupai

6 years

Spent the last 2 days in #Vancouver with the @CryptoKitties team. I think they just might take over the world. I’d keep an eye on these guys.

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