1/Does ETH2.0 sound decentralised enough for you?
- You need to have US$130,000+ to become a validator.
- the average person can’t run a node at home.
- the protocol hard forks at the beck and calling of a minority of participants.
Most people don’t care about decentralisation
- You need to have US$130,000+ to become a validator.
- the average person can’t run a node at home.
- the protocol hard forks at the beck and calling of a minority of participants.
Most people don’t care about decentralisation
2/ even though this is one of the main factors that differentiated #bitcoin from our current political and financial systems.
3/ the worst thing is that there is such a lack of education around other crypto assets vs #bitcoin. Everyone knows the bitcoin buzzwords and then they apply them to all other crypto assets even though they don’t apply. “Decentralised” is a great example of this.
4/ I thought Stan Druckenmiller’s assessment of Ethereum saying it is unlikely to be the category winner for utility protocols and comparing Yahoo to Google or MySpace to Facebook was very well put.
5/ the utility protocol space is barely ~6 years old. It’s still so early and there are still many improvements to be made.
Ethereum’s constant changes and congestion, high gas fees reminds me ideas on the internet that came before their time (I.e. before appropriate bandwidth)
Ethereum’s constant changes and congestion, high gas fees reminds me ideas on the internet that came before their time (I.e. before appropriate bandwidth)
6/ The internet makes it essentially frictionless for users to move from one platform to another and it’s the same moving from one utility token to another.
I’m not quite sure how big a moat ETH has vs some other competing protocols.
I’m not quite sure how big a moat ETH has vs some other competing protocols.
7/ Ethereum tries to do a lot of things, making it very complex which means there are a lot of attack vectors for competing chains to come in and do one/some/all of those things better.
8/ no doubt Ethereum has some network effects and a first mover advantage. But the network effects rely on the continuing utility of the network.
9/ ETH should also be weary of trying to compete vs BTC as a store of value. It’s characteristics do not improve on BTC in that respect and an attempt to make NgU stronger in ETH may harm it’s utility while failing to improving on BTC as a store of value thereby losing in both
10/ some other random thoughts. Current NgU could make ETH contributors complacent/lazy.
Currently all ETH staked in 2.0 cannot be used/sold. When the current chain merges and people who’ve had their ETH locked up for months/years and have made 10x return can sell
Currently all ETH staked in 2.0 cannot be used/sold. When the current chain merges and people who’ve had their ETH locked up for months/years and have made 10x return can sell
11/ what do you think is going to happen?
• • •
Missing some Tweet in this thread? You can try to
force a refresh
