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Murmurations II

The second edition of Murmurations, a publication devoted to stablecoins, fintech, startups, and other assorted musings.

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Polymarket needs to completely overhaul their market resolution system

In the wake of the contested "Strategy sells BTC by May 31" market, Polymarket should abandon UMA and settle markets directly

Stablecoins are private money. There’s nothing wrong with that

A response to the WSJ and a century of misreadings of the "free banking" era

AI is not hiking your electricity bill – yet

Consumers worry about AI is driving up their bills. But inflation and the climate transition are to blame

If the Quantum Canary Sings, It’s Too Late

Why we can't rely on early warning systems for an ECDLP break

Prediction markets have an inescapable insider trading problem

Prediction markets promise accuracy via informational edge – but too much edge drives users away. Is a balance possible?

How to resolve the matter of the Satoshi coins without a freeze

It sounds crazy, but it just might work

One simple reason why I think Satoshi is no longer with us

Satoshi wouldn't sit idly by and leave Bitcoin to its fate at a time like this

My Takeaways from Google’s and Oratomic’s Quantum Resource Estimate papers

A discussion of the implications of two papers on quantum resource estimates for an ECC-256 break

The One Huge Oversight in Project Hail Mary

What do Eridians know about music theory?

Prediction Markets Are Not Good Markets (Yet)

Prediction markets suffer from some under-discussed but critical structural problems that might permanently impair their growth