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Lane 'one meme behind' Rettig Profile picture
Lane 'one meme behind' Rettig
@lrettig
Bitcoiner, Etherean, Urbiter, Smesher. Building @teamspacemesh. My hobbies include sci-fi, running, fireside chats, and preventing metadata information leaks.
Aug 18, 2022 • 5 tweets • 2 min read
I got asked a few times if Ethereum shouldn't make an exception to let Coinbase and other large-scale, politically exposed validators off the hook, and allow their validators to exit quickly, cleanly, and without penalties. I think this is highly unlikely. First of all it's not even clear whether it's possible. In PoS, you *can't* have a bunch of validators suddenly disappear, or you lose liveness since you no longer have enough left to validate blocks and the incoming validator set.
Aug 18, 2022 • 11 tweets • 4 min read
So, okay, some smart folks are saying that actually none of this is new and PoW miners have been dealing with this stuff for a while and we should all stop freaking out. I beg to differ for a few reasons... Reason 1. OFAC never sanctioned an Ethereum address before (AFAIK). This alone is new, and I don't think we fully understand what this means or all the consequences yet.
Aug 17, 2022 • 10 tweets • 4 min read
Another way of looking at the situation: it really sucks to be @coinbase right now. They're in a "damned if you do, damned if you don't" situation. I don't see a scenario where they don't lose a lot of money (and/or people end up in jail).
We don't know how much of the beacon chain stake Coinbase controls, but it's at least 15% and potentially more. For sake of argument let's just assume it's 15%. That's 2.1M $ETH or around $4bn
Aug 17, 2022 • 23 tweets • 6 min read
Let me try to qualify this tweet. I see seven possible scenarios playing out, and none of them seem both likely and a good outcome. Let me attempt to break it down. Let me know what I'm missing: Scenario 1: We get lucky. The US government says "just kidding" and rolls back the sanctions, or decides not to enforce them. Seems totally implausible, especially given that the intent here seems specifically to "send a really critical message."
Oct 14, 2019 • 7 tweets • 3 min read
This is going to be interesting. @hosseeb: What is one thing you thought would've happened by now that hasn't?
- @FEhrsam: more and better games, prediction markets
- @VitalikButerin: more progress on wallets
- @JihanWu: using crypto as means of payment
Jun 6, 2019 • 11 tweets • 5 min read
Just finished reading the @oscoin whitepaper. I agree with the problem statement, that open source projects are playing a bigger and bigger role in critical infrastructure and that we haven't figured out how to incentivize their contributors. But help me understand something... As @RealZandy asked here, "Who is on the buy side" of this token?

I am not an economist (crypto- or otherwise) and I haven't done nearly the degree of analysis that folks like @cburniske and @mZargham have, but I have a strong intuition here.

May 11, 2019 • 5 tweets • 2 min read
.@MolochDAO is an important, valuable project. @ameensol and the other folks behind it deserve credit. It's a big improvement over the status quo where funding exclusively comes from ICOs, the Ethereum Foundation, or ConsenSys.

But let me play devil's advocate here a little... The minimum "tribute" to become a member is 100 ETH. That's a lot of money to most people. The founding members are a small group of wealthy, influential community members who already know and trust one another, and already have many open lines of communication.
Mar 30, 2019 • 12 tweets • 2 min read
Ethereum governance has failed.

We are a de facto technocracy, where a small group of technocrats, the core devs, have final say over what goes into the protocol. But the challenges we face today are increasingly non-technical. Core devs don't want to make these decisions because they feel unqualified, fear legal liability, are conflict avoidant, and prefer just to write code.
Mar 6, 2019 • 15 tweets • 5 min read
Rick @AFDudley0 responds to twitter questions at #EthCC: "What is the one thing you'd change about Ethereum?" A: "I wish the early design factored in more CS and more democracy in both the protocol and the Foundation." "Ethereum 2.0 #eth2 is a bunch of napkins. No one knows what the bandwidth requirements are going to be."
Dec 30, 2018 • 18 tweets • 4 min read
One of my favorite quotes of all time: when Julia Child, who did more than anyone to make cooking accessible to everyday people, said, "The more I cook, the more I like to cook."

There's a lot to unpack in this seemingly simple quote. Let me try to explain why I love it so much. Most people don't know this, but Julia Child was _not_ a natural at cooking and discovered it rather late in life. She was self-conscious due to her height (6'2"), played sports in college, and majored in history. She began her career as a copywriter in New York.
Dec 29, 2018 • 15 tweets • 5 min read
In a nutshell:

- ETH is overvalued for what it's delivered. True. All cryptoassets, including BTC, are overvalued - but a lot less today than a year ago.
- ETH is a "science experiment." Mostly true, but a bit less true every day. Real apps like @MakerDAO are in production now. - Ethereum won't scale. I don't buy this claim. One way or another, it will. There are many ways that can happen: ethereum-magicians.org/t/hypothetical…. I see no fundamental reason BTC will scale and ETH won't. What works for BTC (eg, lightning) will work for ETH too; ETH has more options.
Nov 30, 2018 • 12 tweets • 3 min read
#Eth1x sync call just finished, after 2.5 hours. Here are a few quick takeaways while they're still fresh on my mind: This call set a new record for attendance on _any_ Ethereum planning call. We had something like 43 people at the peak (out of maybe 60 core devs globally). It lasted 2.5 hours which is also a record. I feel bad for those in Asia Pacific!
Oct 29, 2018 • 15 tweets • 3 min read
Twas the night before DevCon, when all through the chain
Not an Etherean was stirring, not even Vlad's brain.
The blocks were all hung on the blockchain with care,
In hopes that Vitalik soon would be there. The hackers were nestled all snug in their beds,
While visions of hodlmoon danced in their heads,
And Doge dressed in rainbows, and I in swag cap,
Had just settled down for a crypto winter nap,
Oct 22, 2018 • 14 tweets • 7 min read
One major argument for NOT attempting to formalize blockchain/Web3 governance: it gives corporations a system they can capture. - @VladZamfir on the difference between Web2 and Web3 governance and how to prevent capture in Web3 at the #Web3summit Up next, @harryhalpin on the standardization failure of the web: the very technology that was designed to protect Web2 from centralization (via identity), OAuth, was captured by Facebook via Facebook Connect.
Oct 15, 2018 • 23 tweets • 10 min read
Some commentary on the #Ropsten testnet upgrade to Constantinople: what happened this past weekend, where we’re at now, and what this means for Constantinople. Hopefully this helps get everyone on the same page. It’s long but there’s a lot of information to convey! The Ethereum core devs have been working on the Constantinople hard fork for months. The two major clients, parity and geth, were feature complete nearly a month ago. See the progress tracker here: github.com/ethereum/pm/is…
Jun 20, 2018 • 13 tweets • 4 min read
I want to talk about why Ethereum matters to me, and why it should matter to you, too.

In 2018 when most people in the world hear "Ethereum" they think of ICOs and scams and shills. That's disappointing but understandable. The true message has gotten buried. I posit: the existing system is broken. By "system" I mean economic, political, social, take your pick. Turn on any news channel anywhere in the world for five minutes if you need evidence. The list of broken things is too lengthy to detail here but, briefly...