So now the US will focus on Ukraine vs Russia war instead of Iran vs Israel?
Inflation gonna shift back from US to Europe?
Why are we going around in cycles
X will tell you things are fucked, but lie about the reason
Some people will call it greatest source of information
the past week has been a reminder that X is not a real place
it’s an over-privileged microcosm
it’s incredible the sheer number of smart tech bros in my feed who think this election was lost because of Chinese data center propaganda and similar
as I’ve been saying for months: people can’t afford groceries
Ravi retweeted
Red Team screwed us, let's give Blue Team a shot.
Blue Team screwed us, let's give Red Team a shot.
Red Team screwed us, let's give Blue Team a shot.
Blue Team screwed us, let's give Red Team a shot.
Insanity: doing the same thing over and over and expecting a different result.
"Each cycle brought more money and less talk about the common person. There are still talks on those original topics, but more and more the stage seems to reflect the worldview of Silicon Valley elites"
This is exactly what happened to crypto post 2021 mania. The focus on common people has increasingly faded and now its majorly about making more money by aligning interest with the Silicon elites.
If it was just a difference in principles things would have been simpler, but the issue is much bigger. Crypto was always about protection of sovereignty and allowing a transaction system which doesn't need you to give it up to participate.
The entire industrial revolution was an offspring of providing sovereignty back to the people (read: civil and property rights). Now, networks have again taken control over things especially in the digital domain coz of unrestrained growth with minimal corporate governance.
In a rapidly collapsing world it becomes even more important to focus on the moving growth in a direction which can increasingly create resilient systems capable of replacing the old guards of silicon valley with highly governed and accessible systems by design.
Ethereum was the first ecosystem to take things beyond just money and apply it to the wider domain of any middleman driven network (ex: social media, cab aggregators, messaging/mail, loyalty clubs, political activism, science research, IoT, so on and so forth) and lately it has been one of the last ecosystem to still care about the wider mission. That said, the loss of soul is indeed visible and felt but as any anti-fragile system Ethereum also gains from the turbulence happening outside and the focus is due to return as soon as the world gets crazier.
TL:DR - We need more EIPs and we need to test it at scale. The pie is much bigger than DeFi
Has Ethereum lost its soul?
Day 2 at @EFDevcon Mumbai. 🇮🇳
It pains me to say it, but the mood feels a bit disenchanted. You can see it in the half-empty rooms and in the hallway conversations.
I've been to every Devcon since Cancún 2017. Back then, the narrative was about inclusion and empowering the weak.
For those of us coming from emerging countries, it was a tool to circumvent bad institutions (and maybe build better ones bringing the rule of law where it was lacking.)! Many of us Argentines got into Ethereum because stablecoins were the way around capital controls. It wasn't an ideology. It was a survival tool.
For people from advanced economies, it was a way to escape government and big tech surveillance.
Then the narrative started drifting. DeFi yields, NFTs, memecoins... Each cycle brought more money and less talk about the common person. There are still talks on those original topics, but more and more the stage seems to reflect the worldview of Silicon Valley elites: transhumanism, longevity, life beyond biology.
The contrast couldn't be sharper. Inside, conversations about transcending the human condition, governing societies through futarchy and handing DAO governance decisions over to AI. Outside, the chaos of Mumbai's streets, where millions hustle to survive and deal with very human problems every day.
My impression from day 2 is that Ethereum is at a crossroads: solving the problems of nerds and Silicon Valley, or addressing the every day problems of real people.
The real test isn't whether Ethereum scales, but for what and for whom. If it ends up as a playground for a tiny niche of insiders talking to each other, we can expect emptier conferences every year.
Sorry for the pessimistic take. 🥲 Hoping day 3 finds me in better spirits!
Ravi retweeted
Ethereum isn't a recruitment pitch for young builders.
It's civilizational tech, rails that outlast a TED talk.
These corpo rent seekers will never understand.
Go build your corporate greed machine.
Ravi retweeted
Le plus fou : une banque se fait vider d'au moins 133 M$ et c'est un enquêteur onchain qui l'apprend au public, pas la banque.
La traçabilité de la blockchain fait le boulot que la com' ne fait pas.
Des gels de fonds côté exchanges, tu en sais plus ?
So yes - it was a french bank, the laundering identified is $133 Million types. Could be much higher but this is the amount which was laundered through that particular crypto supply chain. Hack was in FIAT
> Hack in FIAT
> Buy crypto with it (difficult to source $133 Mn in FIAT currencies or bonds)
> Censor resistant money
> Banks respond much slower than crypto so difficult plug this
teapawt.net/gregory_raymond/status…
Now this is better news than the rumours which reached me
Today morning some french financial institute was hacked (initial gossip was a 3B EURO+ loss), hope this is much milder than that
Should be clear by 1-2 weeks, and then the transparent investigation will be buried in files for 30 years post which it can be made public (et,al - credit suisse fiasco)
Hedging, but in 2026
Send a man to kill an elephant, if he kills it - he is not hungry anymore, if elephant kills it - he is not hungry anymore.
Now this is better news than the rumours which reached me
Today morning some french financial institute was hacked (initial gossip was a 3B EURO+ loss), hope this is much milder than that
Should be clear by 1-2 weeks, and then the transparent investigation will be buried in files for 30 years post which it can be made public (et,al - credit suisse fiasco)
THE BLOCK: ZachXBT says he suspects that a large Western European financial institution was exploited for more than $133 million from CEX accounts, and that the incident is currently being covered up.
He notes the lack of proper disclosure has allowed the laundering of over $30 million in stolen funds that EU authorities could have frozen.
The coming of fileverse will melt faces !!!
looking like the personification of @fileverse
>yellow smiling face
>privacy cloak
>treat data as toxic waste by default
Ravi retweeted
🚨 VITALIK: “We really need to treat data as toxic waste by default.”
At Devcon Mumbai, he calls for open-source tech and zero-knowledge proofs to protect privacy and reduce reliance on trust.
So the reason why we can never have true decentralisation is North Korea?
- Unfreezable coins
- Censorship resistance
- Trustless oracles
- True Interoperability
This is what we will never achieve, coz KimJimWim?
Create your Firefly account now! Join the Web3-native social experience. @thefireflyapp #Web3social
firefly.social/profile/23896…
just trying out something
