Notes and essays by Fish.https://prob.fishing/https://prob.fishing/posts/the-supermarket-that-was-never-built/https://prob.fishing/posts/the-supermarket-that-was-never-built/New York City promises groceries 30% below private stores. Food retail earns about two cents on the dollar. The missing $30 does not come from profit, it comes from the taxpayer.Tue, 04 Aug 2026 00:00:00 GMTeconomicspoliticstheoryhttps://prob.fishing/posts/if-you-give-a-mouse-a-cookie/https://prob.fishing/posts/if-you-give-a-mouse-a-cookie/Uncapping ALGO is not the threat. Spending the treasury without growing the network is. Why node runners should withhold the upgrade vote until the Foundation concedes.Fri, 12 Dec 2025 00:00:00 GMTalgorandtokenomicsgovernancehttps://prob.fishing/posts/the-chicken-and-the-algo/https://prob.fishing/posts/the-chicken-and-the-algo/Not users-vs-builders but a supply-and-incentive mismatch: the Foundation is the largest seller, funding little that grows demand. Four ways to cap or hand off the treasury.Fri, 13 Jun 2025 00:00:00 GMTalgorandtokenomicshttps://prob.fishing/posts/misalignment-of-spending/https://prob.fishing/posts/misalignment-of-spending/$72.5M of net outflows in Q1 2025, of which roughly 14% arguably helped the community. Plus the story of asking $2–3k/month to maintain Réti, and being told no.Thu, 01 May 2025 00:00:00 GMTalgorandtokenomicshttps://prob.fishing/posts/haydrops-build-tools-not-empires/https://prob.fishing/posts/haydrops-build-tools-not-empires/Built in two weeks and released permissionless. Why we gave away the airdrop protocol instead of gatekeeping it, and how NFD-duration gating makes sybil attacks expensive.Wed, 23 Apr 2025 00:00:00 GMTalgorandopen-sourcehttps://prob.fishing/posts/algorand-a-very-american-coin/https://prob.fishing/posts/algorand-a-very-american-coin/On being left out of the US Crypto Strategic Reserve, and why chasing political favor for a pump betrays the thing that made crypto worth building.Mon, 03 Mar 2025 00:00:00 GMTalgorandpoliticsregulationdecentralizationhttps://prob.fishing/posts/algorand-governance/https://prob.fishing/posts/algorand-governance/Tying xGov voting power to blocks proposed hands the treasury to whales. The case for an elected council with median-based budget voting, and what the current proposal gets wrong.Fri, 28 Feb 2025 00:00:00 GMTalgorandgovernancevotinghttps://prob.fishing/posts/musings-on-the-pond-ii/https://prob.fishing/posts/musings-on-the-pond-ii/A year on: outflows nearly halved and consensus rewards landed, but revenue is ~$730k/yr, xGov is still broken, and the RWA focus is costing us on-chain growth.Fri, 14 Feb 2025 00:00:00 GMTalgorandgovernancetokenomicshttps://prob.fishing/posts/a-new-blockchain-enabled-economic-paradigm/https://prob.fishing/posts/a-new-blockchain-enabled-economic-paradigm/Reading Berg, Davidson and Potts alongside Coase: blockchain as institutional technology, manufacturing trust cheaply enough to flatten the firm.Tue, 13 Aug 2024 00:00:00 GMTeconomicsdecentralizationgovernancetheoryhttps://prob.fishing/posts/who-said-governance-was-simple/https://prob.fishing/posts/who-said-governance-was-simple/xGov pays for promises, not delivery, and lets stake decide. Four fixes: an elected committee, retroactive-only funding, no stake-weighted votes, and median voting.Tue, 11 Jun 2024 00:00:00 GMTalgorandgovernancepublic-goodsvotinghttps://prob.fishing/posts/the-ecosystem-activity-score/https://prob.fishing/posts/the-ecosystem-activity-score/A weighted, normalized score for on-chain activity, usable for airdrops, voting power, and public goods funding. Asking for help on the variables and weights.Tue, 16 Apr 2024 00:00:00 GMTalgorandpublic-goodshttps://prob.fishing/posts/proposal-for-the-establishment-of-the-impact-oracle-dao-to-fund-public/https://prob.fishing/posts/proposal-for-the-establishment-of-the-impact-oracle-dao-to-fund-public/A concrete draft: 600M ALGO over ten years, allocated by a 115-member DAO scoring impact retroactively, with median voting and a 5% per-project cap.Mon, 19 Feb 2024 00:00:00 GMTalgorandgovernancepublic-goodshttps://prob.fishing/posts/musings-on-the-pond/https://prob.fishing/posts/musings-on-the-pond/Algorand is spending ~$350k/day against ~$5k/day in fees. A holistic proposal: node incentives, retroactive public goods funding, and an uncapped supply with a burn.Tue, 30 Jan 2024 00:00:00 GMTalgorandtokenomicsgovernance