eriverse Profile picture
19 Nov, 5 tweets, 2 min read
Everyone complains exchanges aren’t enabling Lightning withdrawals/deposits & the narrative seems to be that ”exchanges don’t want to admit bitcoin scales!/they’re busy listing shitcoins” and then @binance integrates @arbitrum Ethereum L2 straight out of the box what’s that about
Binance has every incentive to pretend Ethereum doesn’t scale since it leads to tons of trading volume in other competing L1s, including their very own Binance Smart Chain geth-fork, which they’ve been trying to steer people toward heavily on their withdrawal page interface.
Maybe it’s because all you need to withdraw to an Ethereum L2 is an Ethereum address, no set-up or inbound liquidity needed, and that Ethereum L2s can do large transfers just fine and don’t need to worry about routes?
Nah I’m probably just making shit up because I am mean and evil
Oh and yeah, @arbitrum doesn’t have a token

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More from @ercwl

20 Nov
ETH is priced as if it can flip BTC (% of BTC mcap)

ETH-killers are priced as if they can flip ETH (% of ETH mcap)

Even though they aren’t optimized as monetary assets

And nobody knows what the value for “smart contract fuel” is..

..when they’re supposed to solve high fees...
There’s a monetary premium here that’s being broadbrushed all over everything that’s on CoinGecko.

Most of it is just valued by association (in relation to something else) even though those links don’t really survive when they’re interlinked in two, three, questionable steps
I’m not complaining but FA is completely broken at this point
Read 4 tweets
5 Nov
Sweden's financial regulator just released an article in which the director-general concludes that if cryptocurrency mining via Proof-of-Work is allowed in Sweden, we'll run out of renewable energy and endanger our chances of meeting our Paris Agreement climate responsibilities.
He reached this conclusion by, according to my read, googling @DigiEconomist and @CambridgeAltFin stats by himself and the director-general of the Environmental Protection Agency. They now recommend that the EU starts an investigation to "ban Proof-of-Work mining".
They also conclude that there are other ways to mine cryptocurrency which wastes 99.95% less energy and maintains the *same* functionality.

Link to article:…
Read 19 tweets
30 Oct
Making a high-throughput L1 to reduce gas cost is a bit like making a road wider to reduce traffic

In reality, the wider road makes more people think ”oh I can take my car to work now instead of commuting!” => traffic re-clogs => it takes exactly as long to get to work as before
In reality, a wider road does not reduce the time it takes to get to work. It only allows more people to endure the same level of traffic at the same time.

What you need in order to solve the traffic problem is more roads, coming in from different directions to the city.
Intuition: if everyone had their own road into the city, there would be no traffic.
Read 12 tweets
27 Oct
SHIB is better than DOGE because it doesn’t suffer from DOGE’s Litecoin merge-mining problem, its inflationary nature and isn’t as sensitive to Elon’s tweets. And also piggybacks and integrates directly with the world’s most common token standard and developed DeFi ecosystem.
DOGE isn’t going to help out to rejuvenate the renewables industry and isn’t going to facilitate controllable load to strengthen the power grid through controllable load as other PoW coins like bitcoin could. No industrial efforts are being focused on DOGE mining.
In fact, Scrypt ASICs are so behind the curve and development is nowhere near plateauing (as opposed to Bitcoin mining where an Antminer S9 would have served you 5 yrs despite focused industrial efforts) a continued expansion of DOGE would lead to mountains of mining scrap waste.
Read 8 tweets
10 Oct
it’s both fascinating and disappointing to see how my brain went from seeing a cryptopunk avi and thinking ”oh so this is a bandwagon guy with no sense of originality/taste, typical crypto garbage waste tool of a person” to ”neat, wonder if it’s real, that guy fucks”. ffs brain
i don’t see status symbols in anything, there is no car, watch, house or even physical fitness that will make me think ”oh who’s that” and now a pixelated ugly ass profile pic triggers this response? so disappointed
i suppose what i respect is that they had the conviction and foresight not to sell this garbage thing, understanding that it would become the status symbol it is today/alternatively buying it at a ridicolous price, having convicition the top wasn’t in? i would’ve sold it at $100k
Read 5 tweets
8 Oct
well you can argue Samson made it already but he still can’t count

maybe that’s a flex idk
sorry @Excellion you’ve always been nice to me but when you spread misinfo I will dunk on you

there are plenty of reasons why BTC is good

when you resort to misinfo you make it seem like bitcoiners have to fabricate data to be appealing (we don’t)

that’s just counterproductive
Read 4 tweets

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