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Recent Tweets by ErikVoorhees

Since word is getting out, wanted to start clarifying what this DIEM thing is all about... - The Venice token $VVV has always granted stakers free inference on the Venice API (private/uncensored generative AI, text and image) - The amount of free inference received was determined by the capacity supply divided pro rata among all stakers on any given day. This amount naturally fluctuates, which made it difficult for stakers to plan long-term. - Separately, our number one request from VVV stakers was the ability to tokenize their compute access so the *credit itself* could be traded... this is understandable since the a VVV holder is not always an API user. - To address both the fluctuation of compute issue, and the desire from stakers to be able to sell their compute access, Venice is *tokenizing the compute itself* into a token called "Diem" - DIEM (latin for day or per day) will grant $1 per day of Venice API credit. If you have 10 of them, then you get precisely $10 of usage every day. This solves the planning issue. - As a token (on @base), DIEM will allow AI compute to be directly tradeable. This solves the request by stakers to trade their access to those using it. - DIEM will be minted exclusively from $VVV, which locks the VVV until the same amount of DIEM is burned again. - The amount of VVV required to mint 1 DIEM is determined by a novel "mint curve." This sets a natural asymptote on DIEM supply (required since each DIEM is a liability of Venice). When more DIEM is minted, the rate to mint another one increases. When DIEM is burned, the rate to mint another one decreases. - A natural equilibrium will thus emerge, based in any moment on the demand for free inference from Venice's API relative to the price of $VVV and the current mint rate. - All else equal, higher demand for private and uncensored AI inference from Venice will lead to higher DIEM price, and thus higher VVV price (because each VVV can now mint a more valuable asset) - As an asset that grants access to $1/day of a resource (AI inference), DIEM can be valued with various Perpetuity Value formulas (what's an asset worth if it gives me $1 every day?) - We believe this is a novel token design, in which two connected tokens exist, one of which has an unbounded trading range (VVV has no obvious min or max reasonable price), and the other of which has a clearly bounded trading range (DIEM can be properly valued with Perpetuity formulas). For the crypto econ nerds, it may be fun to study how this works and see what interesting relationships emerge. - We'll convey more details via @AskVenice soon, and we expect the upgrade to happen this month. The upgrade will also reduce the $VVV emission rate (inflation) by roughly 1/3.

Mentioned on : 08/09/2025

Bitcoiners would have more credibility in calling out garbage like XRP if they didn’t call everything garbage.

Mentioned on : 01/25/2025

Tell me something... do you believe Bitcoin adoption would be higher or lower today if stablecoins were never invented? How about EVM and smart contracts? You think Bitcoin as digital money is stronger in the absence of such things? You would prefer a world in which Bitcoin existed but not privacy coins, such that every transaction you ever made digitally was observed by Chainalysis? Perhaps you rarely even use onchain transactions, sitting cozily in your KYC'd custodial Bitcoin companies? Perhaps you still use banks for your loans instead of defi lending markets? Bitcoin's ascent has been greatly helped by the ecosystem of digital assets all around it. I know you don't agree with me, but some of us don't think these other things are "ancillary."

Mentioned on : 07/29/2025

@attorneysanders @MartyBent @brian_armstrong I perceive a meaningful difference between Ethereum and Fortnite vBucks, yes. How does one get by in this world with a mind so easily boggled?

Mentioned on : 07/29/2025

@MartyBent @brian_armstrong It's so weird how maxis cannot recognize that Bitcoin is best money AND that digital assets might exist and be useful that aren't narrow money.

Mentioned on : 07/29/2025

@1984_is_today @THORChain Hyperliquid is a great product, but it's for gambling Thorchain is a messy protocol, but it's actually important technology for permissionless finance The latter is the more noble project

Mentioned on : 07/23/2025

@BTC_Archive So they're just doing that one purchase then

Mentioned on : 07/22/2025

btc-e just credited my account with my mtgox coins 👍

Mentioned on : 07/25/2024

Behold... this has never been done before. Native (unwrapped) #Ethereum in Native (unwrapped) #Bitcoin out $5,000 trade No intermediary No custody No KYC @ShapeShift_io today launched decentralized cross-chain trading, by integrating @THORChain (which also launched today)

Mentioned on : 04/13/2021

That the meme literally has cute little bitcoin shields is so perfect

Mentioned on : 07/05/2025

Don't fret, brother. Crypto is, and has always been, 99% nonsense grifty garbage/scams/jokes, and 1% fundamental global financial system revolution. But this 99/1 is based just on quantity of projects. Considered by market cap, it's more like 75% quality, 25% nonsense. Bitcoin is good. Ethereum is good. Stablecoins are good. Several dozen defi projects are good. Wildly cool technology permeates through all of it, and sound economics underpins its long term growth, though the short term feels often like an appallingly irrational market. How to cope with this dichotomy? Embrace the degen frontier and have fun, and recognize that amidst it all, a decentralized financial system is real, is important, and is working. None of it is forced on anyone, after all. We are building and we are attracting the world toward us... and much of the world simply wants to gamble and have fun. This is okay, and actually provides capital for the important work happening behind the casino. It is, actually, working. We are realizing the wildest dreams of those who are into it for all the right reasons, despite the accompanying fantasies of those who aren't. Just keep building, and build well.

Mentioned on : 01/18/2025

The toxic maxis are the absolute worst part of the entire movement. Their allegiance is to brand and idol-worship, not to principle. But Bitcoin is only useful, only virtuous, to the degree it brings its underlying principles into the world. And wherever else those same principles are found, is to be celebrated. Schiff attending the conference is *good.* While he is wrong about Bitcoin, he is a thoughtful person, and has advocated for market-based money longer than most maxi's have been alive. Ross speaking about unity among those who desire decentralization and freedom is *good.* The battle is about markets vs the state. Any friend of the former is a friend of mine.

Mentioned on : 06/02/2025

I like Saylor, but a slide like this has no place at a Bitcoin conference... on the Nakamoto stage, no less.

Mentioned on : 06/02/2025

Refresher on $VVV, the token of Venice is an app for generative text and images. It's similar to ChatGPT, except private and uncensored. Late last year Venice released its API (which uses the OpenAI standard), enabling AI agents and 3rd party app devs to access the same text and image inference that Venice's own app uses. API users can pay like a normie with credit card/Stripe. But more interesting, they can alternatively stake $VVV. Staking $VVV grants the staker a share of Venice's API capacity on a continual basis. If you staked half the tokens, you get half our capacity. This changes the pricing structure from "pay per request" to "pay once and use forever" Since the launch of the token, Venice's API has grown from <1% of Venice usage to roughly 20%. This has occurred even while Venice non-API usage grew over 100% during the same timeframe. But why Venice when so many AI services exist? We have the world's most uncensored large language model, and all the prompts and responses are private, stored only client-side. No other provider offers private, uncensored generative AI at our scale. If you're building an AI app or agent, try our API at and consider holding $VVV to get all your inference for free.

Mentioned on : 05/29/2025

Ethereum hard-forking in 2016 was not initiated by a sole entity/person. It was a community decision, broadly supported. Bitcoin's 2010 bug was also resolved with the understood consensus of the community, no person mandated it. A decentralized network can fork and fix problems. The allegation against Sui isn't that problems were fixed, but that the means by which such a fix occurred was overtly centralized.

Mentioned on : 05/27/2025

It's bout time we had a new well-done Bitcoin documentary

Mentioned on : 05/23/2025

It's bout time we had a new well-done Bitcoin documentary

Mentioned on : 05/23/2025


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