Remember the desperate calls for Ztrash exit liquidity from some big CT accounts the other day?
Absolutely disgusting
Collected a few receipts
Meanwhile ZEC is the worst performer and getting absolutely cooked
@RookieXBT @osf_rekt @ceterispar1bus
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Ct is upset cause this is very very bearish for ztrash
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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ef3 retweeted
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.
ef3 retweeted
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.
Just sold these two Hamilton Topps Chrome cards and got paid
Still can鈥檛 wrap my head around who鈥檚 buying at these prices
Imo we are witnessing an NFT level bubble, if not bigger
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ef3 retweeted
The real difference between $XMR and $ZEC isn鈥檛 the tech.
It鈥檚 who actually holds the coins.
$XMR has been at billions for years. The supply is in the hands of people who鈥檝e been waiting for banks to get hacked and governments to crack down. That moment is starting now and they鈥檒l simply never sell their coins.
$ZEC lately got pushed to billions by some opportunists and @Mert, who brought the Solana degens into $ZEC. They鈥檙e the best at farming engagement on X, and that鈥檚 how he鈥檚 getting his exit liquidity right now. They鈥檙e already distributing and dumping into the narrative, while $XMR is just waking up for the moment it鈥檚 waited for since its creation.
That鈥檚 why $XMR will lead the future of privacy and hacking. Not even close.
ef3 retweeted
Haven't been adding net new capital to crypto (just recycled gains) the last year or two. Exception being $XMR.
What I like about it is the coin has history, one of few projects with true Cypherpunk ethos, a vibrant community, relatively detached from 'crypto' and still used in transactions. Feels a lot like the old days.
And to add, the quarterly chart is 馃
Dear slab collectors,
Unfortunately, the counterfeit problem is only going to get worse.
Maybe it's time to switch to NFTs? Zero risk of counterfeits.
I'd start with Cryptopunks. A 10x is still on the table, with plenty of liquidity to deploy size.
Regards
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Hopefully this exploit triggers a lasting repricing of DeFi yields to better reflect the risks we are actually taking
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Hold tight crypto believers
Just a few more hacks until we finally achieve perfect security
Don't capitulate to the fiat scam
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Exploring alternative prediction markets after Predict's massive disappointment.
Been trying @pascaldottrade and so far the experience has been surprisingly good.
Worth checking out: app.pascal.trade/join/ef3arc
Back in March, @dingalingts mocked Opinion for a 3% airdrop.
Fast forward to today: Predict is giving its community a whopping 2.45% after nearly a year of farming.
Turns out we misunderstood him.
3% was apparently too generous 馃槀
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