It’s changed the way I view crypto: It truly is about what’s being built and not what’s being traded. There are amazing things in the works and it’s still so, so early.
I learned a lot at Permissionless this week. Among other things, I learned that readers of this newsletter are awesome. Special thanks to everyone who made the effort to track me down (no easy task in a 7,000 person conference) — meeting everyone in real life was the highlight of my week.
The close-second highlight was seeing all the builders and creators speak with such genuine enthusiasm for both their projects and the space in general.
It’s changed the way I view crypto: It truly is about what’s being built and not what’s being traded. There are amazing things in the works and it’s still so, so early.
One of my priors remains, however: The crypto things being built will be great for users and great for the world — whether they turn out to be great for investors, I’m not yet convinced.
But I’m more excited than ever to find out.
Permissionless Awards (unofficial):
Best Booth Attention-Getter: Giddy for the real-life Back to the Future DeLorean.
Most Thoughtful Merch: Arbitrum for the microfiber glasses cloth.
Worst Joke of the Week: Michael Ippolito for “two talking muffins in an oven.”
Best Joke of the Week: Michael Ippolito for “two talking hats on a hat rack.”
Most Renaissance Man: Ben Jones, co-founder of Optimism, for providing the musical interlude on the melodica before dropping knowledge in the session on L2s.
Best Hot Takes: Nic Carter on stablecoins. (Among others: Some things are just not worth attempting.)
Most Tell-Us-How-You-Really-Feel Speaker: Alex Mashinsky, Celsius (e.g., We all have one enemy, which is TradFi.)
Worst Name I Was Called: “on-chain maxi,” by an astute newsletter reader.
Note: Voting was conducted via a 1 of 1 multi-sig.
Crypto Conference Pro Tips:
Arrive extra early on day 1 — the best merch will go fast.
Leave space in your luggage for all the merch you will score by getting there early. (Bonus tip: Consider not packing shirts and wearing the merch you get on Day 1 instead.)
Only put your first name on your badge — people will think you’re important. (Like Madonna or Ronaldo.)
Get to the booths early. There are tons of super smart people manning the booths, and they’re not allowed to leave, so they have to answer all your dumb questions.
Sit near the exit for the panels just before coffee breaks.
Eat a big breakfast — there are too many interesting people to talk to at the lunch break to bother eating lunch.
If you’re at a 7,000 person conference, maybe don’t wait until the last minute to go find the bathroom. (There might be a looong line.)
At the crowded after-party, tip the bartender $40 for your first drink — no one else tips at open bars, so you won’t have to wait for another drink all night. (Bonus tip: They take Venmo.)
Signs o’ the Times:
You know it’s a bear market when:
The USDC t-shirts are the first to run out.
You know it’s not a bear market when: Ray Bans (real ones!) are the parting gift at the yacht party.
You know everything will be OK when:
The person sitting in front of you at the sessions is writing code.
You know we’re just getting started when: Half the people you meet are attending on their personal account.
That’s a wrap for Permissionless.
Thanks for following along this week — looking forward to seeing you all at the next one.
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