This new, long Matt Levine article about crypto is really good.
I often write long blog posts where I try to explain technical topics in a fun, accessible manner without dumbing them down. And this article might be the single best entry in this genre of writing I’ve ever seen.
It’s a tour de force, a master performance. In the future, if I want to get better at this kind of writing, I’m sure I’ll revisit this article as a reference point.
I understand the topic a lot better having read it. I knew, or “knew,” a lot of the material beforehand, in a more-or-less vague and disconnected way, but Levine’s systematic, step-by-step explanation let me finally see how it all fits together.
I also feel like I understand the purported technical/intellectual appeal of Blockchain for the first time. Levine isn’t a Blockchain hype-man (as you’ll know if you’ve read his column), but he understands and communicates the intellectual seed behind the hype. The light-bulb moment where you think “there’s something here, I can feel the potential, there must be some revolutionary application for this, there’s no way something like this could just be useless …”
On a related note, Levine’s attitude toward crypto feels reminiscent of my own attitude to modern deep learning / large LMs / ML scaling. I won’t elaborate, for obvious reasons, but this gave me a nice, warm glow of “same hat!” validation.
