@toly on X
Code replaces the state: Bitcoin, privacy, smart contracts
Shrinking state power needs four tools together: Bitcoin as money the state can't print, privacy coins to hide from it, open ledgers to keep power honest, and smart contracts to replace its services.
Result
If held over the last 3 months (Jul 24, 2026 – Oct 23, 2026): +35.8%. Over the same days: BTC +27.4%, ETH +30.2%.
What it holds
- Money the state can't print, 32% of the money, +28.1% over 3 months: BTC (Bitcoin), GOLD (Gold), MSTR (Strategy). Bitcoin and hard assets are savings that no government can inflate away.
- Privacy tools, 23% of the money, +100.7% over 3 months: XMR (Monero), ZEC (Zcash), AZTEC (Aztec). People need to hide their money from watchers, or freedom on-chain means little.
- Open ledgers and smart contracts, 27% of the money, +51.7% over 3 months: ETH (Ethereum), SOL (Solana), HYPE (Hyperliquid), AAVE (Aave), NEAR. Public blockchains with code-run apps can do what banks and agencies do, with no boss.
- State-friendly money loses, 9% of the money, −39.1% over 3 months: against CRCL (Circle). Money that governments can control and freeze is what open money replaces.
- Cash, 10%.
The plan behind it
The take says no one tool is enough, so the portfolio has four groups, one for each tool. Bitcoin is the base, because it's money no government controls. Privacy coins protect people from being watched or frozen. Open blockchains and smart contract platforms do the jobs that governments and banks do today. A small short on the biggest government-friendly crypto stablecoin company and a bit of gold keep the bet honest. The cash is there to buy more when a crackdown knocks prices down.
It’s both, or all 3 or 4 aspects of crypto are important. 1) SoV matters because the world is unstable and there is a non zero chance that the local superpower falls apart. bitcoin matters 2) privacy matters because technology improvements increase the power of the state more than the individual 3) “blockchain” matters, because fully on chain transparent ledgers of everything that happens in the markets you are operating in reduce a bunch of risks, aka archegos/knight capital. Putting everything onchain is good for markets 4) smart contracts matter because 3 and 2 and 1 require a bunch of innovation that we can’t predict. Can’t build 1 and 2 without censorship resistance, pita to build 3 without programmability
What would prove it wrong: Governments ban or choke off Bitcoin and privacy coins, and people stop using them anyway.
FAQ
Can I make one from my own idea?
Yes. Write what you believe in plain words at https://f.xyz/create. fxyz asks a couple of questions, builds the portfolio and shows how it would have done over the last 3 months.
Can I turn a post on X into a theory?
Yes. Reply to the post and tag @fxyzai. It tests the view in the post and replies with the 3-month result and a link.
What can it trade?
Stocks (Tesla, Apple, Nvidia), crypto (Bitcoin, Ethereum, Solana), pre-IPO companies (OpenAI, Anthropic), indices (Nasdaq 100, S&P 500), commodities (gold, silver, oil, copper) and currencies (EUR/USD, USD/JPY). One theory can mix them, and bet for or against any of them.
How does it react to news?
On each check it reads the last two days of news on its biggest holdings and says whether the idea still holds. It can make one small change at a time: trim or drop one holding by up to 5 points. On autopilot the change waits 10 minutes so the owner can skip it; otherwise it asks first.
How do I run it with real money?
For real money, tap Make it mine, open your copy and choose Use real money, with an exchange connected: Hyperliquid, Lighter, Lighter (Robinhood), Backpack, Pacifica or Binance. The money stays in your own account there. fxyz can place trades, but it can never withdraw.
Can the AI get it wrong?
Yes. fxyz's AI turns the idea into holdings, and it can get that wrong: add a coin or stock that doesn't fit, or miss one that does. Check the holdings before you put money in. In your own copy, ask its chat to add or drop any of them.
What do the 3-month numbers mean?
What $100 would have done holding this mix over the last 3 months, at real prices. It is a what-if, not a record: past or simulated results are no promise of future ones, and nothing here is investment advice.