Thread by @daddysether

There are a lot of people out here who are criticizing Ethereum for either, not having a strong narrative, or not having enough educators, and so on..

What's interesting about this critique, is that it only seems to be circling within the CT community, and yet, Ethereum thrives.

It is extremely naive to think that Ethereum, a nearly decade old, hardened, proven, time-tested blockchain worth nearly $400 Billion (and growing) will live and die by the very, and I mean very, minute and insignificant circle of crypto twitter.

Now of course, we've spent the last 12+ months hearing people from non-Ethereum communities harp on about the so called, crippling impact that things such as "liquidity fragmentation" will have on Ethereum.

These people are Ethereum competitors - it is their job to FUD Ethereum.

Again, this is something that only seems to be circling the echo chamber of CT, and it does not line up with the reality that we are seeing play out.

If you think I'm wrong, point me to the stats that prove that the adoption of Ethereum and it's L2 ecosystem are slowing down.

Despite these crippling effects, Ethereum and its many L2s are continuing to flourish and onboard more users and developers with each passing day.

Why?

Shouldn't devs & users be dropping from Ethereum like flies??!!

Shouldn't Ethereum's value be eroding??!!

Well, no, and why would it?

Ethereum L2s are merely an extension of Ethereum, and each and every one of them makes building on Ethereum, and using ETH in things like DeFi, more accessible than ever before.

If L2s are winning, so is Ethereum - and by extension, ETH holders.

But MuH liQuIdItY fRaGmEnTaTiOn

Well, so far, we aren't seeing these supposedly crippling effects have any negative impact on Ethereum's development or growth.

(Unless you count the 20 or so people who are clambering on about these things with very little-no evidence of such).

Let me ask you this..

If liquidity fragmentation was something that Ethereum should feel threatened by, then why hasn't Bitcoin's value slowly eroded?

Since the launch of Bitcoin, we have seen Ethereum, along with many, many other "new and more performant" L1s pop up with the goal of revolutionizing crypto, and solving all of our inefficiencies in finance until the end of time, etc etc..

And yet, Bitcoin still dominates, and remains in a league of it's own.

Out of all of these new L1 blockchains that we have today, attracting new capital, fragmenting liquidity, and yet Bitcoin remains unbothered, with Ethereum being its closest competitor.

As a final note, don't mistake my dismissal of "liquidity fragmentation" as a bearish narrative for something that we still aren't working to improve.

Part of Ethereum's development is to continue making the L2 ecosystem much more interoperable - this has always been the case.

Many L2 teams are already working on this, in fact, many are actually collaborating together to define new sets of industry wide standards to make ongoing developments and collaborations more efficient in the future.

Ethereum is an infinite garden that spawns infinite possibilities.

One day, we'll look back on 2023/2024 and wonder why we spent so much time arguing, and gaslighting each other about inefficiencies that were always going to be solved in the first place.

Rantover

I hope that anyone who reads this comes out with a better perspective on why some of the FUD that is constantly being slinged at Ethereum, seemingly out of nowhere, will continue to have close to zero negative impact on the growth and adoption of the Ethereum ecosystem.

If you want to keep finding new reasons to FUD Ethereum, be my guest.

I'll be over here stacking that Gwei