Discover and read the best of Twitter Threads about #ethereum

Most recents (24)

Once #bitcoin finds bottom quality cryptonetworks will find bottom relative to it, as #crypto currently lives in world of relative valuations.
$ETH the main wild-card here. While I expect it to find bottom relative to $BTC (coinciding with its own supports, likely mid double digits), if it doesn't then it will have knock-on effects given it serves as the unit of account of the #Ethereum ecosystem & its many ERC-20s.
Regardless of how one feels about the merits of #Ethereum, one must also acknowledge the size of the network & its ability to influence sentiment (which inevitably feeds back on $BTC).
Read 3 tweets
#Blockchain is more than a market. It’s a movement.
Market cap doesn't reflect activity. Decentralized networks are growing.

-10B+ daily API requests served by @infura_io
-1M+ @trufflesuite downloads
-1M+ @metamask_io downloads
-12K+ live @Ethereum nodes
-48M+ unique #Ethereum addresses
-3x @LinkedIn #blockchain job openings
Blockchains are solving real-world problems. Governments get it.

-Israel’s encrypted messaging system
-Estonia’s electronic healthcare record trials
-Dubai’s 2020 initiative
-South Africa Reserve Bank’s @goquorum trial
-Japan’s e-voting system
-Zug @uport_me IDs + crypto ATMs
Read 20 tweets
OKEX straight up asked us to increase volume by any means necessary or get delisted. Wonder why the SEC won't approve ETFs? 🤔

Sry OKEX we'd rather focus on our business not yours.

@SilvioSchembri @JosephMuscat_JM this is why 🇲🇹 needs to be very selective.

(Continued)
Bittrex is the most legit exchange, period. No bullshit fees to get listed, no fake volume or manipulation, the future of Blockchain tokens will be tokenized securities on approved exchanges with ring fenced custody. These other exchanges are in trouble long term.
The fact that OKEX charges token teams massive listing fees then forces them to fake liquidity is 😂.

Exchanges need to stop robbing token teams & start building platforms to enable innovation & access.

They need real tokens like $UKG more then we need them.
Read 7 tweets

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One year later and 2018 has clearly been an echo of 2014.

The question now becomes: will 2019 be the new 2015?
2015 was slow for the crypto industry (lots of pivots), markets consolidated (no V-shaped recovery) & private blockchains (with the term DLT not yet widely used) began to inflect in focus. Heavy regulation came out too (Bitlicense). But 2015 was also the yr #Ethereum launched 🙂
In 2019, many teams will pivot & mainstream won't come roaring back- too many got badly burned.

A V-shaped market recovery is unlikely & we don't want one either- consolidation a stronger base.

DLT? 🤷‍♂️

More regulation is certain.

Most imp: many key networks *should* go live.
Read 4 tweets
What is the latest thinking and formal communication around #Ethereum’s monetary policy?
While it was clearly communicated earlier in #Ethereum’s life, as an investor it’s been harder to follow of late (maybe just more info?).

Clearer communication around intended monetary policy is one of a few things that would put the markets more at rest around $ETH.
While one could argue it’s a distraction to keep investors up to date — investors take time and #Ethereum’s intended audience is devs — a stable capital base will be key over the long run.
Read 6 tweets
TO THE HATERS...

@coindesk released a data product today that was really hard to do that was the result of *14 months* of debate.

The CoinDesk Crypto-Economics Explorer is simply a TOTALLY NEW way to view crypto assets that is _UNLIKE ANYTHING ELSE_

coindesk.com/data
2/ Here are 3 ways that the product has TOTALLY CHANGED my view of certain crypto asset networks, simply by offering a one-of-a-kind VISUAL AID that replications traditional pricing charts

BUT that provides a much more complete view for crypto asset investors
3/ Here is a chart where you can INSTANTLY see that XRP has a social media premise that outpaces @ethereum despite being behind in most other metrics
Read 10 tweets
1/ Let's take a trip down #Crypto memory lane together !🗓️

The year is 2014. In the middle of the bear market, #Bitcoin enthusiasts are still optimist about the potential of their cryptocurrency and a book "Bitcoin for the Befuddled" is published to explain it to novices.
2/ One specific extract from this book was then published as a blog post and stood out in my memory: “A Typical Day in a Blockchain-Enabled World Circa 2030”. ⛓️

blockchainfutureslab.wordpress.com/2016/02/27/a-t…
3/ In this chapter, we follow Crowley 🐊 the humanoid crocodile character as his day unfolds in a #hyperbitcoinized world and witness his interactions with smart contracts and programmable money.
Read 18 tweets
1. I’ve been thinking a long time about how #ecommerce, #fintech, #blockchain etc. can solve real problems in the developing world. I think I’m close to being able to formulate a theory.
2. As with many other things to understand the developing world we have to back to the book the Mystery if Capital by @ReadingSignals goodreads.com/book/show/8615…
3. Most Developed world fintech sits on top of a trusted centralized society built on governments, banks and other institutions that mostly work.
Read 15 tweets
#Augur $Rep is the #65 dapp by users (35 DAU), and not even the most used prediction market. 😐
dappradar.com/category/other
#ethereum
17 people work for Augur.
linkedin.com/company/augur-…
Remember, this was the crown jewel of #ethereum after the DAO exploded.
Read 4 tweets
1/ Great study via @sebastianhrw on #Ethereum's top 250 ERC20s, investigating the fat protocols thesis via value accrual in 4 layers of the stack. medium.com/@sebastianhrw/…
2/ "The total market cap of these projects was about 10b, so compared to the ~20b of Ethereum, the initial premise of the Fat Protocol thesis seems to hold true." -@sebastianhrw
3/ While highest up the stack, "67% of the projects are being developed on the application layer (layer 4)" medium.com/@sebastianhrw/… (note: graph is by *number* of projects)
Read 8 tweets
1/ Great morning for a tweetstorm updating the latest on the interaction of #WallSt & #bitcoin, drinking coffee from my new BitMug (thanks AC Fenton!) @brucefenton
2/ The most significant news--maybe most important news to date on the #WallSt front--was @tzeroblockchain's token generation event on 10/12 (a fully-compliant #STO on the public #Ethereum mainnet of true preferred stock, issued by an SEC registrant). Investor letter captures...
3/ ...perfectly the true benefit of owning #cryptoassets (which defenders of the legacy system love to ignore): investors have the option to opt out of the legacy system, which is unstable & unfair. Owners can either hold tokens at a broker/dealer OR IN A PERSONAL WALLET at...
Read 13 tweets
OGs will often look at #cryptoasset charts in $BTC terms, in addition to $USD terms.

If investing in any ERC-20s, I recommend looking at them in $ETH terms too, $ZRX and $MKR shown below.
$ZRX / $ETH & $MKR / $ETH both in beast mode, showing growing confidence in these projects relative to #Ethereum.

Could also be pricing in of the growing trend of "middleware protocols" looking to operate across multiple base layer chains, de-coupling from original parent chain
While $USD prices may feel relatively static in #crypto right now, there is a lot of underlying movement in the relative accrual of value between different projects. $BTC makes this clear, but it's also showing in other quality projects.
Read 4 tweets
#Ethereum miners are starting to realize the value of their $ETH doesn't come from transactions. 1/
2/ In fact, including everything into the current state and/or archival blockchain, increases miners' cost.

The connection they might have made is all the dapps and other silly stuff isn't where the value comes from, the value comes from marketing.
3/ The success of ethereum's marketing is only partly correlated w/ the number of transactions. There needs to be enough volume to support the narrative, but not too much to make it extremely hard to stay synced.
Read 5 tweets
1/ @alexhevans recently dug into the numbers behind forks of #Bitcoin, #Ethereum, #Monero & #Zcash.

Main conclusion: Value can’t be forked away as easily as people like to think. placeholder.vc/blog/2018/9/17…
2/ Secondary conclusion: Despite parent #cryptonetworks retaining users, devs & value, the child forks trade at (puzzling) relative valuation premiums.
3/ To follow are graphs and conclusions from @alexhevans that are relevant to specific actors or ratios (if you're not a fan of long form writing 😉)
Read 11 tweets
1/ #Ethereum is crashing (not just in USD terms but in BTC terms); has the demand for a decentralized world computer disappeared, or is something else at play? Let's consider the fundamentals from an economic point of view.
2/ The price level of all monetary goods is determined by (and only by) reservation demand. More precisely, the duration that the average unit of the monetary good is held in reserve.
3/ At one extreme you have a good like gold that is stored in vaults in perpetuity because of a widely held belief that it will retain its value long into the future.

Gold has a very high reservation demand which is why it has a market cap of over seven trillion dollars.
Read 13 tweets
1/ in markets, investor psychology is everything. i shared my thoughts on greed, investor psychology, shitcoin, and market cannibalization at @dezentral_io in berlin and wanted to share some of these ideas here...

option b: skip directly to slides here: slideshare.net/DCGCo/how-to-n…
2/ investors in the crypto ecosystem saw everything go up and to the right. everyone in the market is feeling good, and worth a lot on paper. everyone outside the market is feeling FOMO, and wants in on some juicy returns. the narrative is "blockchain, make me money!"
3/ everyone starts looking for the next #bitcoin, #ethereum, #ripple. people begin to believe that the market will go up and to the right forever, and investors flush with paper returns from the crypto casino rush to multiply their money at the shitcoin roulette wheel.
Read 22 tweets
As of yet, no #cryptoasset is too big to fail-- not even #bitcoin.
Too big to fail applies in 2 areas

1) #Cryptoland, where the question is: will crypto be crippled if a core network suffers catastrophic failure (or slow fade 2 obsolescence)

2) Macro-land, where the question is: will global economies be severely affected if X #crypto goes down
3/ In case #1, there's no doubt #cryptoland would go through a period of heavy puking if #Bitcoin or #Ethereum went down, and while a few #buidlers would defect, the majority would stay and adapt.
Read 5 tweets
I'm convinced that all of the smart people in #ethereum have to know it's an outright scam at this point, and probably have for a long time.

The only question is, how to unwind their positions of 10s of millions of ether?
They want you to think the #ethereum network is viable by stringing you along on this decade long wild goose chase for PoS. They'll happily sell you their bags as they move onto their next scam.
Read 4 tweets
1/ Hey #CryptoTwitter, grab a glass of vino and come sit by the fire so we can discuss your narrow-minded views on FAT PROTOCOL THEORY.

See what I did there -- how I juxtaposed "narrow" with "fat"?

No?

Just shut up and drink your wine. 👇
2/ First, let's acknowledge it as a "theory" even though it wasn't clearly labelled as such.

A theory is just a plausible principle offered to explain phenomena.
3/ In Joel's case -- @jmonegro penned the original theory -- he was observing the phenomena that #Bitcoin and #Ethereum both had market caps that far exceeded the value of applications built on top of either protocol.
Read 22 tweets
A 75 tweets long tweetstorm by @VitalikButerin on Casper. Interesting at many levels. Timing is providential. $ETH needs its community to rally and pull together to stop & reverse the sell-off. PoS would be bullish for prices by creating a new use for existing coins. #Ethereum
Another providential appearance from a key player of the Ethereum community: @ConsenSys. From yesterday. Seems key stakeholders are just as worried as other holders, and acting on it. This is good. Communicating with the marketplace is crucial. #Ethereum

media.consensys.net/40-ethereum-ap…
This piece by Jonathan covers the $ETH defense subject succinctly. Great read.
Read 4 tweets
1/ It seems like a lot of approaches to blockchain-based smart contracts, recognizing that "code is law" was unworkable, are going to the opposite extreme where smart contracts will be easily stoppable through administrator-type privileges, and claiming that this is necessary
2/ to ensure legal compliance. If that is true, then the benefits of deploying a smart contract to a public blockchain (vs. someone's server) are modest. By far the biggest benefit dreamed of by cypherpunks for blockchain-based smart contracts was always their potential
3/ to reduce both ex ante and ex post transaction costs by establishing an "unstoppable" arrangement on a world computer where (assuming good ex ante due diligence into the code), the parties had close to 100% certainty that the code would execute and the funds would flow.
Read 19 tweets
1/ #Crypto has created a *Republic of Value* reminiscent of the “Republic of Letters,” which some claim seeded the Enlightenment & Industrial Revolution. press.princeton.edu/titles/10835.h…
2/ Global diversification of thinkers is key for #crypto as it breeds resilience to any nation's attempt at intellectual censorship.
3/ People ask, “What happens if the gov seizes mining equipment? Or bans crypto transactions? Or..." But banning minds from thinking and tinkering has proven near-impossible over time.
Read 6 tweets
Monster 100+ page #crypto report from @AutonoFinTech: next.autonomous.com/crypto-utopia/ First takeaway graph shows crypto-penetration per country, Japan in the lead w/ 83% awareness
2/ Succinct narrative of 3 waves of #crypto funding:

Bitcoin startups, Enterprise blockchain, ICOs.

#ICO funding in 2018 nearing double that of 2017.
3/ Smart contract platforms other than #Ethereum are growing... but w/ the top (@wavesplatform) at ~30 ICOs, all still pale in comparison.
Read 5 tweets
The key thing here is not the hack itself - it's the fact the Bancor team had the ability to freeze funds. How many other "decentralized" DApps have a built-in kill switch that's centrally controlled?
Starting a thread here of "decentralized" DApps/exchanges etc. that have a centralized kill switch or control. Let's start with @KyberNetwork ... looks like they can halt the network, per github.com/KyberNetwork/s…
Correct me if I'm wrong, but does this code not allow the owner of the MakerDAO contract to mint new coins? Source: etherscan.io/address/0x9f8f…
Read 7 tweets

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