1/ A thread on the past, present and future of Ethereum’s security (monetary) policy and why I think ETH will be the most unique asset on EarTH after the PoS merge. 2/ PAST
The first time I can remember issuance being discussed is in a blog by Joe Lubin in April 2014. It was a very simple model of getting ETH to "near 0" inflation over ~100 years. blog.ethereum.org/2014/04/10/the…

Very happy to see newcomers be able to enter the Loot community for only the cost of gas.

That said, it’s amazing how important communication and narratives are.

While long term mLOOT is a good thing, short term the shock just destroyed Loot and AGLD markets. All of these crypto and NFT markets heavily rely on memes and narratives. More than most people think.

Threatening them even in the slightest can shake the market hard.

You've probably seen a lot of chatter about Ethereum vs. BSC the past few weeks. I wanted to take a moment to explain the differences and tradeoffs between the chains. The funniest part? They are *almost* identical but a few tweaks make a huge difference.

A thread... First up everyone should understand The Scalability Trilemma which consists of scalability, security and decentralization.

Ethereum optimizes for decentralization and security on the base layer and hopes to rely on L2 solutions for scalability.

Some of the most important takeaways from the Ethereum 2.0 Researchers AMA today. Note, some comments are cut down to fit in tweets.

1. @VitalikButerin on unsolved challenges: "I really honestly think that there are no unsolved research challenges at this point." 2. On when Beacon Chain could start finalizing the Eth 1.x chain: "My best guess is early 2021." -@drakefjustin

0/ Yesterday I said I now have concerns over protocol based funding for development after watching conversations unfold. Here is a very high level overview of why I feel that way... 1/ We pay miners for security. Now we’d be paying devs for development. We’ve seen how complex/contentious/political mining rewards get, we are now doubling this.

0/ It’s Friday and crypto twitter is dead so what better way to wake it up than talking about uncle blocks??? I see lots of confusion around this subject so let’s talk about what uncles are, how they are formed, the gas limit impact, selfish mining and the falling uncle rate. 1/ First, let’s discuss what an uncle block is. At any point in time, Ethereum has a block height (how long the chain is) and miners are working to solve the next block. However, it’s possible for two miners to solve the next block at the same time.

Curious why the @compoundfinance Dai rate is so high? Someone is trying to protect a massive @MakerDAO CDP. Here's how...

1. Supply 724,000 REP as collateral
2. Borrow all the Dai available.
3. Send Dai to @ParadexIO and buy ETH.
4. Lock ETH in CDP to protect.

Proof below... Here we can see the address supplying all the REP (7% of all in circulation) and borrowing ETH and DAI. Thanks to curiousgiraffe.io for the data.

0/ A thread on blockchain economics and how price volatility wildly impacts the security and fundamentals of each chain, especially block rewards and staking.

Let's dive right in... 1/ The issue with any blockchain economic discussion is that realistically, most people still think about their returns and costs in fiat.

We are pricing things like block rewards and staking entry in crypto but those participating are worried about net fiat returns.

0/ A thread on Ethereum economic abstraction. I’ve recently seen a lot of nonsense spread about how Ethereum could be wildly successful but ETH itself could be worth 0. It’s time to debunk this myth so why don’t you go on a journey with me into economic abstraction? 1/ So what IS economic abstraction when it comes to Ethereum and why is it used to argue Ether will go to 0? The theory is that users could pay their transaction costs to miners in something other than Ether. Therefore, if that becomes rampant, Ether itself would have no value.

0/ I see a lot of discussion about the technicals of Ethereum’s Casper PoS but not much discussion around the economics. I’ve been giving a lot of thought to the current incentive structure and here are my thoughts. SPOILER: I think we need more discussion around the economics. 1/ First, a quick reminder that PoS will allow users to “lock up” their Ether (32 of them) in order to secure the network. In doing this, you run a “validator” which votes on blocks. You are rewarded for this effort by paid interest on your total stake in ETH.

1/ After last weeks Ethereum Core Dev Call on issuance, I wanted to post a tweet thread follow up to my blog. I've pulled updated data, laid out my argument again, and compared the 3 EIPs below. I still strongly stand behind EIP-1234 and am very against EIP-1295.

https://twitter.com/econoar/status/1022942239851311104

2/ First let's revisit my post. I theorize that since network participants are paying for network security, you can create a baseline against another chain to analyze if you are overpaying or underpaying versus said chain. For my Ethereum comparison I take Bitcoin.

1/ Quick thread on crypto valuations and gain multiples. I’m tired of seeing bubble graphs that point out BTC and ETH’s >1000x multiples and saying it’s not sustainable. Crypto allows anyone to participate in early “funding rounds” unlike private rounds of traditional companies. 2/ Let’s use Facebook, which is currently valued at $600bn. If you look at the graph of $FB stock since IPO, then you’d be led to believe that FB has only risen ~5.5x since IPO. This is not a fair comparison to crypto, we need to look at the early funding rounds for FB.

1/ I don’t think there is any type of scam or fraud behind @bitfinex, #Tether, and $USDT reserves. Today’s report gave the market the most important information they needed (reserves are there), yet doubters want more. Here is why I don’t think there is fraud with #Tether: 2/ The hit on Bitfinex is that they are printing $USDT with no backing. This would mean that Bitfinex is knowingly committing fraud and market manipulation for in the crypto space, all while the biggest spotlight is on them. This seems extremely unlikely to me for many reasons.