The Ledger
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Yakovenko: Crypto Will Cap Around 100M High-Spending Users, Not 8 Billion
“I think there is just a set of users that are kind of heavy users, and that might be a limited, that's not going to be eight billion people. I don't know how big that set is, but it could be like A hundred million. Right now, that sounds like a small fraction …”
Yakovenko: Global demand will force US to adopt stablecoins
“Like the world is so big that if this, everybody wants us dollars and if the programmable us dollar is tether or circle or whatever, they'll use it. And then us has no choice but to accept them because the economy is so big right now. The global economy is so …”
Yakovenko: Visa will settle via stablecoins instead of banks
“And normal people are not going to switch from credit cards because it's just kind of entrenched. But the way Visa deals with like banks, I think it's going to change because they don't have to care about banks as much anymore. They can actually just do everyt…”
Yakovenko: Crypto wins if Bitcoin becomes a portfolio hedge like gold
“It's weird if it actually ends up being like a, you know, part of somebody's like hedge strategy, like gold. I think that is, if that happens, then this whole crypto experiment is effectively won, whatever, whatever you want to call it.”
Yakovenko: Stablecoins will reach $1T in near-future crypto growth mode
“I think at some point the, We're, we'll see that accelerated event. It's hard for me to predict whether it's the next two years or some other two years short in the near future, but you'll see this massive kind of growth mode for crypto where we see a trillion…”
Yakovenko: Centralized closed algorithms are worse than offensive speech online
“I think that what sucks is the only innovation in this over the last like decade is like basically a centralized closed source algorithm that feeds you a specific set of information and then you don't have user engagement. That's kind of a very sad outcome. Li…”
Yakovenko: AI is more of a product than a movement
“AI is more of a product, honestly, and less of a movement.”
Yakovenko: Tech movements evolve from punks to hoodies to suits
“I think you see the punks do it first, and then kind of the hoodies built a bunch of stuff and commercialize it. And then the final stage is when the suits take over. And we're kind of seeing that awkward transition right now, I think, as the hoodies are makin…”
Yakovenko: Most meme coins launch on Solana, peaking over 100k daily
“At this point, most, but I think Ethereum has probably the most valuable ones, but by sheer number of launches per day, I think it's like, was peak over a 100,000 per day. I think it may be like 20 to 50,000 right now.”
Yakovenko: Apple's 20% app fee cannot function on scarce crypto assets
“With crypto, you can't produce another loot box. There's only one, you know, CryptoPunk NFT. There's only one Bordet. So, You are selling it for 10,000 dollars. You cannot add a 20% fee inside the Apple store on that digital item. It would be absurd, right? A …”
Yakovenko: There is very little crypto demand for euro stablecoins
“No, I mean, we've seen very little demand for even just euros. Like it's just been a slog trying to get anyone to want them.”
Yakovenko: Stablecoin adoption will be limited to USD and Chinese yuan
“I think it's USD and maybe like Chinese R&D. Yuan, yeah. But that, that's gonna be, like, muscled in. I don't know how much, like, adoption we'll have organically.”
Yakovenko: Discounted cash flow models cannot be applied to Bitcoin or gold
“You know, if you leave, if you read the Intelligent Investor, or you actually try to think things from first principles, there's no way to put a discount cash flow model on Bitcoin, or gold for that matter.”
Yakovenko: Solana's Seeker phone has 150,000 pre-orders and ships August
“Seeker, the device, we got 150,000 pre-orders and it's shipping August.”
Yakovenko: US crypto legislation will take 2-4 years to take effect
“For them to pass a bill, right, it just took six months. For that to take effect is going to be the next two to four years.”
Yakovenko: Public AI models inevitably suffer worst-case adversarial misuse
“I think these are kind of growing pains for AI systems that have public access. Like it's just Sam has built systems that have untrusted user inputs. As soon as you build one of these, people will do the worst possible thing just, you know, for fun, for whatev…”