Harga AptosLaunch TokenALT

Anyone still in the Ethereum ecosystem today after years in the space has rejected countless lucrative offers from alt L1 projects every year. You have to respect that.

RT @Brentsketit: the alt run is in crypto equities i’m sorry

First of all, I always loved both Bitcoin and Ethereum, and to me they always have been special and the only credible attempts to build unstoppable systems that can resist to nation state attacks. And I never understood how it can be possible to believe in Ethereum for this reason and not wishing Bitcoin to succeed or believe in it's potential to succeed. And yeah, I can understand the other way around, even if it can seem unfair, because Ethereum objectively did some compromises to get there. So depending on where you place the cursor on some dimensions, you may or not be fine with the compromises. Bitcoin is unique and will always be, it's impossible to reproduce the conditions in which it was launched, in which it grew organically, in which it's social layer was consolidated over time, against giant forces, with a noble mission. It's not just a protocol, it's the symbol of freedom, it's the hope for humanity to build something better, in which individuals can take back their sovereignty. It's the reason why we can even have this debate trying to compare them. And no, I am sorry, but it does not mean being blind about the things to improve on Bitcoin or it's weaknesses. It's not perfect, that's true. Ethereum was also driven initially by cypherpunk values, and it's original community was a good reflect of this I would say. However it's now trapped for multiple reasons IMO (technical complexity, pace of updates, market and people that most of the times don't care about decentralisation and security, it's success and adoption: yes it can be a challenge actually). Which I think over time contributed to a dilution of the social layer in terms of the cypherpunk values. It's also happening to some extent on Bitcoin with a new wave of so called Bitcoiners who are just simping Saylor and ETFs and don't care at all about decentralisation or censorship resistance. But despite this, the social layer on Bitcoin is IMO doing a better job in calling out the bullshit, in fighting strongly to protect the important properties. Yes sometimes it's frustrating because it slows down innovation, but it's the price worth paying given the importance of the mission. We cannot fuck up, this is too important. I was also distracted for years about the technical excitement to work on cool things, it's normal, it's part of the human nature. It takes some humility and patience to be able to overcome this excitement and keep in mind the greater goal that is a path of frustration, challenges, battles. Decentralisation is not a given and we have to constantly fight to preserve our sovereignty and our chances to win. I understand for many reasons why it's much harder for Ethereum to have this level of hardcore maximalism on the cypherpunk values all the time, because it's not finished yet (Bitcoin neither but you get my point, there is a gap in terms of % of completion that forces Ethereum to continue moving). Problem is that I see the pace of upgrades is actually accelerating, which amplifies the problem of dilution of the social layer I mentioned before. Even if new comers wanted to care about the upgrades (and only a very small minority actually want to) it's just going too fast and too many things in parallel to be able to properly catch up on things. It's too much core devs / research centric (which kind of makes sense of course because those are the expert matters on most of the topics), but it comes at the expense of involving more power users and normies to understand the core principles and why we do all of this. And the result is visible pretty much everywhere, including in tooling and infra. For example, on Bitcoin, most of the wallets and tools will show clear warnings to the users if they are using public RPC endpoints (and explains why it's bad for privacy and self custody). On Ethereum (and even worse on all Alt L1s of course, i don't even consider them to be honest), people are too used to use public RPC, to not care deeply about self custody, about running nodes, etc. Those seem details but they are not, they are the reflect of a small degradation over time of the cypherpunk values and ideals that drove us all in the first place. Ethereum is honestly amazing, and a great attempt for freedom tech in general, and brought amazing innovations all the time. And I still believe it can succeed, despite all my concerns and worries. But what bothers me the most is the attempt to antagonise Bitcoin. it's a huge mistake IMO. Ethereum is not money and should not try to compete with Bitcoin as money. Same for store of value IMO. Ethereum is great for many other things and is a beast of it's own. Why is it so hard to love Ethereum while still wanting Bitcoin to succeed ? If Bitcoin fails the whole crypto industry is dead. The opposite is not true. Think about it. I do believe that Bitcoin has more chances to succeed if Ethereum remains as strong and a credible attempt as it is now, because it makes the combination of the two more resilient and harder to attack for their common enemies. One general comment also, you forget / dismiss the importance of the social layer. I am sorry to say, but on this front Bitcoin is a clear winner, especially when it comes to being money / store of value. And for many different reasons (one of them being of course that with a much narrow scope it's easier to consolidate a strong social layer to preserve the core properties). Ethereum cannot shine in war time (at least in the current shape), and we saw that during this cycle, there needs to be a huge rally / coordination / happy path from all parties to try to improve things (and this is not even going in a good direction in all fronts IMO but that's another topic), it's too much driven by fear of Solana and alt L1s. Now let's talk about some of the metrics you shared. Sustainable scarcity: you assume that the current status of fees will always remain like this, which is to me a bold assumption. And also related to another thing I suspected which is that you are not following at all what's happening on the Bitcoin front (especially on the scaling solutions space). Native programmability: this is evolving, and even if not on the L1 this programmability will come from L2s. Which is more or less what Ethereum has became (settlement layer), even if this again changing and people want to put things back to L1 again (which is another reflect of some of the issues with the pace of upgrades and "changes" of narratives). Institutional onchain builders: well, again you don't follow actively what is happening on Bitcoin I think. In terms of builders ok I would also say Ethereum has an advantage there, so I won't nit peak here. Operational cost: honestly, i can't believe that some people are still bringing this nonsense fud on Bitcoin POW... Scalability roadmap: well first the notion of roadmap is interesting here. There is no Bitcoin roadmap, and it's a feature, not a bug, and yet another big difference there is with Ethereum. But ok, let's talk about scaling solutions being explored / built, you omit many of them (with different tradeoffs and trust assumptions): Ark, BitVM, Cashu, and others. Also for the comment on Lightning, I can agree to some extent with some of the elements on the channel limits etc, but honestly you should try lightning, it improved a lot, including in terms of UX (and yes even in self custody mode). Lightning also became the common language for the Bitcoin economy, and is used as an interop layer between many of the different scaling solutions. Scaling adoption: yes you are totally right, Ethereum is clear huge winner here. Real yield today: Bitcoin does not need yield, it's the real hardest money on earth. Social contract anchor: the 21M hard cap is not what describes Bitcoin entirely. It's only a part of it. Structural selling: last survivor theory. feature, not a bug. They have to remain competitive. Founder supply concentration: seriously can't believe i am reading this. On everything about governance or token distribution etc, there is just no comparison even possible. Bitcoin had the purest form of launch ever and the most fair by all means. No premine, no foundation, etc etc. Enough for the metrics, as you see, my main problem is not even about the metrics themselves.

the alt run is in crypto equities i’m sorry

@OurTinTinLand @Xi_195 @BITMAINtech @fiamma_labs @citrea_xyz @berabaddies @sophon @build_on_bob @ankr July 2nd: (re)Fundamentals, Cannes not another hook. (re)turn to what matters. join Boundless, @alt_layer, @eigenlayer, @brevis_zk at our summit during EthCC