Byron Gilliam

Byron Gilliam

Byron Gilliam writes The Breakdown newsletter, in which he tries to explain crypto markets to traditional investors and traditional markets to crypto investors (while trying to explain both to himself). Before joining Blockworks, Byron spent 25 years trading international equities for banks and brokers in Frankfurt, London, Paris and New York. He holds a bachelor's degree in History from Binghamton University. Contact Byron at [email protected].
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When not knowing the odds improves your chances

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What Thomas Edison actually invented — and what it tells us about the future of crypto

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But who gets a key to the gate?

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Throughout its billions of searches, Google’s goal has always been to train and hone its algorithms

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It’s getting harder and harder to trade crypto like the good ol’ days

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Stablecoins are no substitute for what makes the dollar dominant

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Quantum teleportation could make money a physical resource again

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And the bear case for bitcoin

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Bad math makes headlines: real progress, a history of candlelight, and “the worst poverty analysis…ever seen”

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Anthropic researchers report that their AI agents successfully exploited 56% of vulnerable smart contracts

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For new growth, crypto may need to shed tired norms like over-raising and the hoarding of investment resources

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Futuristic DeFi is stuck inside the computer. An old idea might be its escape hatch

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From passageways to penumbras: a history of private life

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The AI bubble could pop even if demand for AI is unlimited

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Are stablecoins “the most dangerous form of crypto” or a “global public good”?

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Randomness is easily mistaken for meaning, especially in markets.

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With every generation, new problems arise — usually caused by the previous generation’s solutions

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The need for a public, verifiable ledger system may have prompted the creation of an ancient mountain site

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GPUs are starting to go dark even as data-center spending doubles — is a bubble on the horizon?

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Jeff Yass bets that prediction markets could stop wars, Paul Atkins’ announcement on “tokens,” and more