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Ethereum Virtual Mavericks - NFTs born out of r/Ethfinance - a movement that fights for and embodies the ideals of decentralization https://teapawt.net/t.co/nA0mT5sBgs

Joined April 2022
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Supply inflation doesn’t preclude an asset from being a SoV Gold supply inflates @ ~1.5% ethereum:native supply inflates @ ~0.8%
If $ETH is a store of value, why does it keep inflating? Doesn’t that make it just like the inflationary fiat it was designed to escape? Maybe the solution to all our problems is a bitcoin L2 after all
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EVMavericks retweeted
“The ticker is $ETH, bitch”
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token". Three primary reasons: 1. ETH as fee-burning token never was as strong as it seemed 2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance. 3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS) EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere. The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
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The ticker is $ETH
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token". Three primary reasons: 1. ETH as fee-burning token never was as strong as it seemed 2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance. 3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS) EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere. The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
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please if you are in crypto, and *especially* if you are in Ethereum, read this thread it's a 'nature is healing' moment from Vitalik and is saying so much of what a bunch of us ETH holders have believed for years...even some of the REV maxis from last cycle are having a similar realization now with Zcash P.S.: I think on fundamentals ETH can be a much better SoV than both ZEC and BTC, though I'm in ZEC now as well...the fundamental question is whether smart contracts are a help or hindrance to SoV (and Vitalik himself lays out the dilemma well below) and there is a bunch of theory around this, but I lean that net/net they are a help because it means you potentially never have to exit that hard-money CROPS ecosystem to use your money privately & keep it private...and *use* means more than just 'spending' . . .
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token". Three primary reasons: 1. ETH as fee-burning token never was as strong as it seemed 2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance. 3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS) EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere. The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
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We're delighted to share Making Treasury ETH Productive: a data-driven look at the state of ETH treasuries By @Kairos_Res, in collaboration with @golemfoundation & @ethereuminsti
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Replying to @WatcherGuru
I like how its "we" when they get hacked and lose money. socialize the losses, privatize the gains.
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ETH supply is up about 1% since the Merge. In the same time period: > solana:So11111111111111111111111111111111111111112 supply grew 66%, from 354M to about 589M. > ripple:native supply grew 27%, from 49.83B to about 63.1B. > cardano:native supply grew about 10%, from 34.18B to about 37.5B to 38B. > bitcoin:native supply grew 4.96%, from 19.15M to about 20.10M. > ethereum:native supply grew 1.0%, from 120.52M to about 121.7M.
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Today at 12ET will be the last @EVMavericks Doots Podcast possibly forever. I'm not going to be alarmist like something is wrong personally, but there are some good changes going on. Good news is /u/haurog just crossed the 400 mark! 🗣️EVMaverick Discord: discord.gg/evmavericks 📺EVMaverick YouTube: youtube.com/@evmavericks Live on X: @evmavericks + @prodjkc All channels can be found here: 🖥️dailydoots.com/podcast
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shut up bears
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Believe in somETHing.
Believe in somETHing. 10.21.26.
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EVMavericks retweeted
Believe in somETHing.
Believe in somETHing. 10.21.26.
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Final epoch for Aerodrome starts now. See you on the other side 🛫
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Aero is coming to unify liquidity across Ethereum. 9 days. Then liftoff 🛫
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Aerodrome became the all-time revenue leader for holders while competing for only 15% of the DEX market. In just 10 days, it expands to Ethereum Mainnet, Robinhood Chain, and Arbitrum. Buckle up 🛫
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probably nothing
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It has been prophesied. Aero 🛫
Can't spell "Next-Generation" without A E R O.
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Aero is cookin 🛫
"15% of the market and generating more revenue than anyone else in the market. If we're already leading on revenue today, and we're entering new markets that represent a 4x while growing the pie through things like tokenized stocks... I think we have a tremendous opportunity."
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$ETH has a history of moving sideways before going parabolic
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EVMavericks retweeted
I don't recommend anyone scramble to move their funds to new wallets today. But we should take the risks to cryptography from AI-accelerated math seriously, and minimize our exposure to not just quantum-vulnerable cryptography, but also potentially AI-vulnerable cryptography. The core new area of risk from this viewpoint is, unfortunately, ML-DSA / FHE / lattices. (and it's also another reason, along with quantum, why ECDSA might fall even faster than expected, hence the "fresh address" recommendation) So far most people have been in the mode of thinking "elliptic curves broken, hashes safe, lattices safe". But there is a good chance that the concrete security of lattices will take serious hits from the next two years of AI math. The basic threat model is: factoring is something that naively takes 2^(n/2) time, but over decades smart people have found and optimized number field sieves, and degraded that to 2^O(n^(1/3)), which is why RSA keys and signatures need to be ~400 bytes (and not 64 bytes). What if there are skeletons in the closet like that, both for elliptic curves and lattices, that we are simply not smart enough to discover - but bots soon will be? This is a major part of the reason why for the past year ethereum's lean roadmap has been going in the "hash-only" direction: no lattices, no ML-DSA, no Falcon, no lattice-based commitments inside ZK proofs, etc. Signatures in lean ethereum are all hash-based, either WOTS or SPHINCS-. For signatures and proofs, we already know how to go hash-only. The bigger challenge is for *public-key encryption* - and this goes far beyond blockchains. Secure communication, anonymizing protocols, lots of things need public-key encryption. And unfortunately there are long-standing mathematical theorems showing why public-key encryption cannot be done with hashes alone. You have to have some kind of trapdoor object that has at least one form of usable "structure" - either group theory (incl. isogenies) or lattices or code-based or potentially in the future even more newfangled and spooky things (local mixing?). But for anything that has structure, you should assume that AI will make at least some progress in breaking that structure. Here, one reasonable inference is that if you want to make something plausibly long-term secure, multiply the key sizes by 10. To me that's a very plausible world and something not at all extreme to predict. If AI will bring us 50 years of math in 2 years, then that 50 years of math may very plausibly include a "naive factoring -> GNFS" level of improvement to our ability to break lattices. In that world, lattices will still exist, but they will have to be significantly bigger to guarantee the same level of safety. And at those new larger sizes, hash-based constructions will beat lattice-based constructions on concrete efficiency in every use case where hash-based constructions are possible at all. Theoretically, of course it's possible that hashes are broken too (eg. P = NP would imply that). But I think P = NP is very unlikely. And intuitively, it's much more likely that a mathematical object has exactly no exploitable structure (like hashes are intended to), than that a mathematical object has exactly ~3 forms of exploitable structure (for elliptic curves: associativity, Schoof, pairings) and not some secret fourth form of structure we have not yet discovered that greatly degrades its security (for elliptic curves, ECDLP and pairing security). Similar for LWE, SVP, RLWE and the zoo of lattice problems. For this reason, we do not yet see any reason to worry and start padding the byte size of hashes (if we start to worry more, we would pad the round count first before doing anything to the byte size). Concrete TLDR, my own personal views: * Hash-based > lattice-based, in those situations where hash-based is possible at all * For anything lattice-based, be much more paranoid on param sizes. Remember that blockchains are only a small portion of the cryptography story; this point goes far beyond blockchains and applies to eg. access to websites, secure messaging, Tor / VPNs ... * For privacy protocols, strongly favor NOT putting encrypted notes onchain. Instead, send them offchain through some third-party mechanism. * If it's not difficult for you, keeping your funds in addresses which have not yet been used to make a transaction is a good idea. If it's easy for you, do it. **But be careful about migrations; I personally have lost more money in botched migrations than I have lost in all hacks combined**. * For multisig wallets, doing confirmations offchain is better than onchain, because this way the signatures of signer wallets do not get exposed to the public, so if ECDSA falls to AI much faster than expected, at least the multisig "gracefully degrades" to a 1-of-1 where the 1 is whoever was gathering the signatures - a much better place to be than "anyone can take the money" firefly.social/post/x/210783…
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It wouldn’t be Devcon without @VitalikButerin. This November, Vitalik is back on the Devcon stage, joining builders and communities in Mumbai to question, debate and build what comes next for Ethereum. Mumbai, November 3–6. 🇮🇳 Get your ticket → devcon.org
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