lex_node

. @CampbellJAustin this & the DM followups were why I blocked you; I found you very condescending and your position was extremely bad for DeFi

now that the great @brianeklein has won the fraud claim for his client & the good of DeFi through brilliant and dogged advocacy it is time to eat crow publicly, and we can be friends again, and you can embrace positions that are consistent with the spirit of DeFi from here on out = )

I argued up and down here that what Avi Eisenberg did wasn't fraud and it would be disastrous for DeFi if it was. Got a lot of grief for it. Congrats Brian Klein, this is a win for DeFi.

you're going to see a lot of crazy degenerate and semi-desperate RWA plays

a lot of it will mostly be some combination of stupid and illegal and people will be asking us lawyers "how can they do that?"

well, they can't, and it won't be sustainable, but they need headlines & need to be 'first'

pay attention to those building for the longer-term

another aspect of Ethereum is that basically the 'leaders' / early ecosystem players voluntarily decentralized it--whether idealistically (probably true re: Vitalik) or cynically to protect their wealth effects against legal threats (probably true in the case of ConsenSys and some others)

this may never be repeated again due to much more friendly legal climate and the proven fact that decentralizing kneecaps B/D, "shipping fast", etc. . .

to me although Ethereum has a doxxed founder and some other early issues, its lore and path to decentralization are as unique and as un-repeatable as Bitcoin's thus making Ethereum and ETH special snowflakes indeed

I really don't get how in crypto it's totally normal not to disclose you were massively bribed to participate in some activity made to look like it's natural/organic. Crime.

Ethereum has made two really unique formative choices, interrelated with each other:
(1) favoring liveness over 'safety'
(2) rejecting "interventionism" after the DAO hack incident (i.e., the DAO hack was the one and only exception)

these are really strong choices both architecturally and socially to achieve cryptoanarchist type results, and Ethereum's main "competitors" made very different choices that means imo they can't really be cryptoanarchist

there are other related choices like hardware requirements for validators..and in-protocol slashing and inactivity leaks; it all adds up to a very unique picture for Ethereum vs every other smart contract blockchain

remember, every smart contract chain other than Ethereum is just an enterprise blockchain

SUI hacker moving from SUI into ETH because Ethereum is actually censorship-resistant

we love you @VitalikButerin

what's the best decentralized/autonomous document storage solution tied to hashes?

IPFS seems to be having a lot of problems (see https://hackmd.io/sRmr-vnPRH2THaPxMIoKjA)

other stuff suggested to me:
-- @ArweaveEco ?
--@irys_xyz ?

any others people like/use?

If you want to understand the dangers of Ripple acquiring Circle, look no further than this article

"We already objectively know that REV is a terrible value driver for L1 assets as BTC has basically no fee revenue and yet is worth $2tril. On the flipside, Tron has massive fee revenue (more than Ethereum!) and TRX is only worth $25bil (which is less than 10% of ETH)."

-@sassal0x cooked on this one

MegaETH are smart guys because I like it just because it's an Ethereum L2 with ETH in the name, they can almost do no wrong at this point. . .

Ethereum is the only non-ponzi-scheme in crypto. Most of the complaints about ETH's tokenomics etc. essentially boil down to the fact that Ethereum is not designed as a ponzi scheme. This is why even people who hate Ethereum like Ripple ultimately also end up building on Ethereum and even people who Ethereum leadership despises like Trump build on Ethereum. You can be Vitalik's personal enemy and it's not going to matter one iota.

the worst place to be in as a blockchain is too decentralized for institutions, not decentralized enough for cypherpunks. . .

1stly, never thought I'd have to agree with @RaoulGMI on anything but here we are

2ndly, real chains are multifarious socioeconomic phenomena, not corporations...there is no reason why BTC has to be a special snowflake and the only thing where MoE/SoV effects count toward or explain val...what will they do if Bitcoin starts having L2s and gets "REV" from them? will you start valuing it like a business at that point? . . . conversely, just because some chains have MEV/REV doesn't mean you have to value them like businesses

3rdly, Dunleavy is getting roasted in the replies by 'economic security is a meme' guys but if you believe economic security is real, his point makes sense. . .people trusting a chain with TVL sets an implied val for the token which may be higher than its current price. . .I do admit this gets more nuanced with centralized assets like stables since they rely *less* on economic security (though not 0) but that's another discussion, it doesn't mean the point is wrong. .

most of you don't even remember when this was the official http://ethereum.org homepage, and it shows

"Crypto is about empowering people and taking away control from institutions."

-@NTmoney

imo this is the North Star, very few in crypto are focused on it anymore, they just want to "make a product that people will use" and it basically stops there . . .