Something quite remarkable happened since 2017. I don't think it was deliberate. If it was, you couldn't have planned it better.
What happened in 2017 was that BCH split from BTC and loudly preached their "we're the real Bitcoin" doctrine from every roof top.
1/n
This had the effect of attracting the attention of the very effective blockstream troll army. I know people who are into all sorts of cryptos but have no real tech knowledge. To this day they think BCH is a scam.

2/n
Unbeknownst to those very busy little trolls, the Ethereum devs and community just quietly went about building a heap of cool shit. BCH/BSV/BTC were busy all day long arguing with each other, and none of these groups noticed what was happening outside their quaint battle grounds
I'm personally guilty of not paying attention too.

BCH et al acted as a flak shield for the ethereum community. The incessant trolling from blockstream employees and their devotees was directed at BCH supporters.
So just recently new tools were built that showed how much activity is happening on the ethereum network. And all the attention from blockstream staff and bitcoin maxi anarcho capitalist austrian devotees has all gone to ethereum.
I mean, BCH is in the middle of a potential split, their community is in crisis, a civil war is underway, and no one in BTC is paying attention.
If this happened a year ago, they'd be mocking them all day long.
But they finally realised BCH is not the threat.
The actual threat is something that was never trying to be "the real bitcoin".
In the last two years a bunch of cool Dapps have reached a tipping point too. They're not "why bother doing that on chain" experiments, but really useful financial tools that could never work on BTC.
The attitude from inside the eth community isn't one of anger over the recent mockings from BTC. Everyone just finds it amusing that people still call it a scam... like "ok boomer" kind of vibes.
They don't feel a need to prove it will work one day because it's already working.
I believe the recent mockings of "what's the supply" from tech illiterate maxis had the opposite of the intended effect too. It just made people on the fence go and have a look. Activity on eth has just kept booming.
As soon as there's a price collapse on defi products maxis will claim "told you so". But keep in mind Adam Back told everyone "the bottom is in" at $9500 in 2018, and Pierre Rochard told his followers to keep buying at $20k in 2017.
If Roger Verr and co's actual strategy was to create as much distraction as possible for ethereum to the core trolls stayed busy while eth built out stuff, it worked a charm.
Once maxies read about and learn the implication of eip 1559, I think there's going to be even more people taking a serious look at ethereum.
but idk tho Image

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More from @iwearahoodie

22 Sep
A #uniswap V3 thread.
There are plans to tackle slippage, and improve capital efficiency.

Read 36 tweets
7 Sep
You know, I think Andre Cronje may have been right about governance tokens being valueless.

Here's why:
1/
Here's a thought exercise: If Andre left the yearn protocol to "the community" and went and started a new product, with a team of VC funded devs who made the UX 10x better, would you park your money in the new thing, or hang on to YFI and invest in the vaults there?

2/
Governance tokens are valuable if you believe in the wisdom of crowds.

The only thing I think governance tokens should do, IF ANYTHING, is elect a genius CEO/dictator who runs things, and everyone else gets out of the way or builds what they say.

3/
Read 8 tweets
6 Aug
If you wanted a cryptocurrency that gave you privacy, sound money, cheap on-chain txs, had sustainable funding, world class devs, wasn't always on the verge of a split, and attracted people who seemed to want to leave the world better than they found it, you'd look at #Zcash.
@zooko and his team's deliberate style of getting the foundations right before worrying about the flourishes has resulted in a product that seems to have what is needed to stand the test of time.
But best of all, is really useful today. It doesn't rely on absurd or dogmatic predictions about the future to define its value. It's really useful, even vital in some cases, right now.
Read 4 tweets
6 Aug
Dear #ethereum experts. Please help me understand the hype around ethereum
This is 100% not a troll question. I'm genuinely trying to see what I'm missing.
Ok there’s a heap of hype about defi and eth lately. But I can’t for the life of me figure out what exactly has succeeded;
... what the big deal is. What are people now able to do exactly that is the breakthrough? Borrow crypto against their crypto? Create yet more tokens? What am I missing?
Despite being into mostly bitcoin and zcash I admit basic attention token seems quite viable because their browser and creator network seems to have reinforcing network effects. But it would work on its own chain too.
Read 4 tweets
3 Aug
Hey #Bitcoin users. If you want privacy, don't convince yourself your coinjoins do anything. They're painfully easy to track. Just use zcash or monero. You're better off consolidating your UTXOs in anticipation of the mempool being perpetually clogged. BTC can't be used as money
in the sense that you can spend it. The Litecoin "silver to bitcoin's gold" was actually accurate. Gold couldn't be used daily by most people because small pieces were tool valuable. Bitcoin in the future will be way too expensive to actually send. It will be money for the rich.
Sorry. I know you wanted to bank the unbanked. But you won't be able to do that with small blocks. And it seems noone is interested in layer 2 stuff.
Read 4 tweets
1 Aug
I know we've mocked the Schelling point meme re #BTC, but I do _try_ to look at objective facts when I can. Check out this thread if you have doubts about #Bitcoin's future.
I struggle with altcoins' and forks' predictions in the face of this kind of data. via google trends
Read 23 tweets

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