the worst place to be in as a blockchain is too decentralize | lex_node on Binance Square

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

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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. .

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

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"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 . . .

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if all the ETH lawyers and DAO guys move to Solana is this bullish or bearish Ethereum?

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imagine one day a headline, "No, You Don't Actually Have a Right to get your Transactions Included in Blocks" Ethereum is building for that day. . .

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