Spacetime

Observer, not a researcher. Crypto and other catalysts for acceleration.

[Spacetime @0xSpacetime]

The European Commission is not Europe, just as the Biden Administration is not the USA.

I'm a non-European (by citizenship). I love Europe and believe it matters in the global context in virtually every respect.

https://t.co/TE8ifQQR4g

[Spacetime @0xSpacetime]

I think it's reasonable enough to argue that BTC is morally superior to everything else -- immaculate conception.

But ETH definitely isn't morally superior to other L1s/L2s. Possibly better, in ways, but not morally superior.

https://t.co/vd52VepM5I

[Spacetime @0xSpacetime]

Agree that an L1's economy resembles that of a nation state more than a corporation. This is why 'App Store', 'dividends', 'earnings' are not good ways to pitch ETH to TradFi. The dominant L1(s) will be more economically significant than any corporation.

https://t.co/qKB8oFG4Q3

[MilliΞ @llamaonthebrink]

If you look at any L1 through the lens of a business, you will never want to touch the asset. It makes no sense under that model. I've said this forever.

The correct lens to view L1s is through that of a Country or large State/City. L1s are much more analogous to open and permissionless sovereign states existing on the internet than they are to businesses or corporations.

Native assets in these "internet cities" represent the real estate. The infrastructure on top is akin to commercial public infra/transportation. The dApps living on top represent the businesses, corporations and the rest of the economy.

This is the only lens to view crypto through by which it all makes sense. This is the lens of a true crypto believer.

Ppl who are unable to view Ethereum (and blockchains in general) through this lens will always have a hard time defining the value prop of an L1 and approach the space as more of a "rational investor" and will generally be impartial to the crypto base layer.

Basically everyone who doesn't have a strong opinion about ETH vs SOL and can't really relate to performance trade offs, falls in that camp.

Those ppl will always be more attracted to the application layer because the properties of those assets fit their prior mental models much better. Those ppl will not be the marginal ETH or BTC buyers in the long run.

The long term marginal ETH or BTC buyer will always be high net worth individuals and those with decent savings who do not live in growing economies or where currency debasement is prevalent. These ppl will very easily see the value prop of globally accepted assets and can reason about the "sovereign sate" model no problem.

That type of person will be attracted to the most decentralized, and economically largest, internet Cities/States/Countries.

If they want pure brainded decentralization and digital scarcity, they will buy BTC.

If they want decentralization coupled with a large and active economy, they will buy ETH.

Which lens do you view crypto through?

Long Live Ethereum✌️

[Spacetime @0xSpacetime]

AGI will never happen unless we relax the requirement of it exhibiting general intelligence (i.e., drop the 'G'). General intelligence can only ever be exhibited by human beings -- with a will. AI is applied mathematics and cannot develop consciousness.

https://t.co/fnpZzyjJRC

[Zach Vorhies / Google Whistleblower @Perpetualmaniac]

My god, this paper by that open ai engineer is terrifying.

Everything is about to change.

AI super intelligence by 2027.

[Spacetime @0xSpacetime]

"A vestige of this fiat-cucked mind. [...] A lot of this talk of yield is this Keynesian, TradFi, rent-seeking mentality [...] What do you people think we're trying to do here?"

Many have simply forgotten the point, or never understood it to begin with.

https://t.co/sedwWuwWXy

[Gwart @GwartyGwart]

Alex let me screech a lot on this one 😋

[Spacetime @0xSpacetime]

I hear this a lot but I don't particularly agree with it. The infrastructure still has a long way to go -- there are many deficiencies in even the largest existing SC platforms. Continued investment and experimentation in infrastructure is necessary.

https://t.co/7RT9JsIFpY

[Kyle @KyleLDavies]

Crypto consumer apps are massively under invested and underbuilt. Infra and IP are ready. Bring in the the mega retail apps to tie it all together.

[Spacetime @0xSpacetime]

@JasonYanowitz tether v circle

[Spacetime @0xSpacetime]

@arthur0x Dorchester

[Spacetime @0xSpacetime]

Solana will probably be a 'ZK project' within a few years. Validity proofs (with/without the zero-knowledge part) will be pervasive, unless genius-tier researchers come up with a breakthrough new cryptographic method.

https://t.co/XvmFf13nkg

[Solana Legend 🎒💧 @SolanaLegend]

There are a lot of ZK projects

Zero knowledge on how to build a community and brand

[Spacetime @0xSpacetime]

Execution sharding has its merits but is not a panacea because:

1. Sharding necessitates the fragmentation of stake across shards which in turn broadens the attack surface of a network
2. There is an upper-bound on the number of shards in a sharded network, so the capacity to scale horizontally is quite limited

(Note: I'm referring to the 2019 sharding designs from Ethereum, and I'm not familiar with the details of your project's implementation. If you've found workarounds to the above, please point me to them.)

For practically limitless horizontal scaling, in my view most L1s will eventually embrace validity-proven execution layers. Validity-proven execution layers are currently (severely) constrained by large proof sizes and long proving times, but proving schemes and hardware acceleration chips are advancing rapidly.

There's no 'psyop', there is just a trajectory of fundamental technological improvement which indicates that execution sharding is unlikely to be the primary scaling solution for public blockchain in the medium to long-term.

[Spacetime @0xSpacetime]

Most of the Solana community is 'anti-crypto' relative to what? Most of the Ethereum community, as if it's the ultimate arbiter?

It's a question of trade-offs. Solana is pragmatic and engineering-driven. Ethereum is more research/formalism-driven but is pursuing a scaling strategy that, for now, has led to centralization in the form of some L2s that are relatively immature (e.g., lacking fraud proofs).

If the yardstick for being pro-crypto is staying true to the early cypherpunk ethos, one could argue that the trade-offs that the Ethereum community is willing to accept are also 'anti-crypto'.

For the record I don't see either of these communities as 'anti-crypto'. It just depends on perspective. But I share your concern about the lack of open source projects in Solana -- this should change, for the sake of the ecosystem's resilience.

[Spacetime @0xSpacetime]

I was intrigued by Toly's comment that it would require the force of NATO to take down Ethereum. He clearly meant it as a compliment, but I'm not sure everyone would see it that way... 🤔

https://t.co/ohEXlxG37f

[Bankless @Bankless]

LIVE NOW -- Ethereum vs. Solana

That’s the debate we’re having today. On Ethereum’s side, we have @Ethereum Researcher @drakefjustin, and on the @Solana side, we have Solana’s Co-Founder @toly

They give us the good, the bad, and the ugly of each other’s blockchain, settling their endgame towards the end of the episode. We tried our best to give both guests time with minimal intervention. At times, it went well, and at others, it caused deep semantic rabbit holes. As we said before, this is likely our spiciest show. But overall, both guests were able to communicate their messages.

Timestamps:

0:00 Intro
7:16 The Good
22:30 The Bad
52:03 Global Shared State
1:06:07 Economic Security
1:30:08 The Ugly
1:47:23 The Endgame
1:55:22 Closing & Disclaimers

[Spacetime @0xSpacetime]

Bitcoin is transcendental value. Artificial absolute time — for the first time in human history.

Study Nick Land