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First - kudos to $BTC acting as the haven asset not only for crypto, but also across all risk assets
In the risk-off environment that shrouded September, Bitcoin stepped up and acted as digital gold. Gold also held its ground. Only the dollar outperformed both in Sep
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Aug 14, 2022 • 9 tweets • 3 min read
The Ethereum Merge is no longer an “if”, but a “when”
Yet, knives are out (as always) attacking ETH - this time claiming PoS governance is more centralized than PoW
This is false. Let’s see how ETH governance actually works:
(Hint - it’s the exact same process as BTC!)
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First and foremost, Proof of Stake is *not* a voting mechanism. It is a consensus mechanism
ETH is not governed by whoever holds the most tokens; if you have the most tokens, you can’t magically change the protocol
The Merge has been part of the Ethereum roadmap for 6+ years: a community-wide effort telegraphed from the early days
Yet now, less than 8 weeks away from mainnet Merge, a wave of doubt is rising focused on a hostile PoW fork
Here's why a PoW ETH fork is a *non-event*:
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First, what is a fork?
The ability to fork is a *fundamental right* for a blockchain's community. Forks provide the community the ability to choose; forks represent a right to underlying freedom
There are 2 types of forks - soft forks and hard forks - with key traits:
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Jul 23, 2022 • 8 tweets • 4 min read
Why ETH will flip BTC:
There are 900 BTC mined per day. At current prices, that’s ~$20mm to miners daily
Let’s assume miners sell 90% to cover costs. That’s ~$18mm in sell pressure *every single day*
Meaning, without ~$18mm of new daily buy pressure, BTC price goes down
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What if that ~$18mm in daily sell pressure vanished - what would that do to BTC’s price?
Wouldn’t it naturally drift up with each marginal new buyer vs being constantly weighed down by daily sell pressure?
This is exactly what is going to happen to ETH after the Merge
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Jul 10, 2022 • 12 tweets • 10 min read
The Ethereum Merge is one of the most powerful catalysts in crypto history, and it is quickly approaching
As we reach the endgame for ETH under the proof of work regime, let's address 10 important characteristics of post-Merge, proof of stake ETH:
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1. Post Merge, ETH L1 fees will NOT come down
The purpose of the Merge is to deprecate Ethereum's PoW consensus mechanism and replace it with PoS. Fees are a function of blockspace demand, NOT consensus mechanism. For lower fees, use the L2s (already live) for execution
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Dec 30, 2021 • 10 tweets • 4 min read
2021 was won by alt L1s b/c rollup scaling on ETH moved too slowly
Web3 went mainstream with NFTs, gaming, DeFi 2.0
Blockspace supply on ETH remained scarce while demand blossomed. Excess demand went to alt L1s
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