China has won as Clarity Act is dead
Now, China will take total control of this major ‘happening’ because Trump wouldn’t sacrifice his personal financial interests.
Just kidding. Crypto probably moons anyway because Clarity act passing would just kill another sexy narrative for the future.
Who is a cypherpunk?
Someone who advocates the widespread use of strong cryptography and privacy-enhancing technologies as a means of effecting social and political change.
Ultimately, cypherpunks write code.
Yours can run on the Polkadot Products Devnet.
Start building applications for the new privacy-respecting web.
◼️ https://t.co/6oBK9I5cYC
while it is annoying the gerontocracy seems to be against all frontier tech these days
and while I feel for the hardworking crypto folks in DC & american friends
there is no stopping this train
unstoppable internet native money & markets at planetary scale
come and take it
I'm having a lot of fun being in the trenches and trading onchain.
People are often looking at it in terms of memecoins.
I don't really look into memecoins at all, as there are many small gems with legitimate projects that are being built.
Those are fun.
Longer period before you'll get returns for these #Altcoins, but it's great to be in those communities and to see new projects being built up.
One positive consequence of all the recent detailed thinking about transaction formats - not just 8141, also "future of state" discussions eg. UTXOs, PBT, keyed nonces, and also recursive STARK mempool - is that we have a much more explicit understanding of how transactions have "actions" and "dependencies", and we can engineer around optimizing the two separately.
An action is an effect that a transaction has.
A dependency is a fact about the transaction and/or the state that must be true for the transaction to be valid.
eg. a signature is a dependency, a Merkle proof of a UTXO is a dependency, a ZK-SNARK (or STARK) is a dependency, a call that sends ETH is an action
Dependencies can be processed in parallel. Dependencies that involve state can be reasoned about by a mempool, especially if the specific state accessed is statically declared. Dependencies that are pure (no state calling allowed) can be processed once at the mempool layer and never need to be processed again - and potentially even replaced with a STARK verifying them, allowing not just execution but also data to be elided.
In principle, dependencies and actions can all be expressed as calls (if needed, calls to precompiles). This would make the transaction format itself very bare-bones and minimalist (a list of calls, flags for the type of each call eg. dependencies would be static or pure calls, and origin, nonce, etc) and allows maximum cross-compatibility even if different EVM chains have different features.
In 2015-era Ethereum, thinking explicitly about these differences was not very important: execution was execution, there were few enough transactions that we could process them all serially, and single-key ECDSA accounts were good enough for everyone.
Ethereum's current scaling strategy, however, requires moving beyond that paradigm. Ethereum is beloved by many developers because the execution and state model is so dynamic and flexible. But dynamic and flexible is not friendly to scaling. Fortunately, >90% of Ethereum's activity by volume does not require anything dynamic and flexible. So, we require contracts, accounts and transactions to more explicitly specify what is dynamic and flexible and what is more statically-analyzable but more restrictive, and more statically-analyzable things get the lowest gas cost and thus scale the most. Effectively, learning from the best of both the 2015-era Ethereum model and a more Bitcoin-like model (reminder: Bitcoin has had what I call account abstraction since the beginning), and making a mixture of both (really, the full spectrum between both) available, with gas costs appropriate for the level of scale involved.
New state types, the recursive STARK mempool, keyed nonces, etc all go in this direction.
This all relates to transaction types, because a general-purpose transaction type is a very natural interface layer on top of which all of this can be implemented, and the current thinking around the EIP-8141 transaction type is going in this exact direction that is friendly to these kinds of future generalizations.
So in that sense, 8141 done well is not just a culmination of 10 years of account abstraction work, it's also preparation for the next few years of responsible decentralization-friendly hyper-scaling.
Mark Moss puts 80% odds on $58K being the bottom
"I believe the bottom is in. I would say probably with about 80% probability. I think the bottom was in at the level that we got to, at the $58K level."
"Could we get back and retest into the mid 60s? We certainly could. I think maybe we could retest at the 200 week moving average kind of thing, and I'm not a technical analyst."
"But I would say the low, back at whatever it was, at 58, I think that was the low. I don't see us dropping back below that."
"I was certainly on the bandwagon, Scott, that the four year cycle was dead. Some people are still hanging on to that. I don't see how you technically could."
"What's happened is it's sort of turned into this self fulfilling prophecy where people want to front run it. And now they're front running getting back in, and it's happening a month early."
Bottom line is there's literally nobody on earth that can reliably day in day out trade anything profitably on micro time frames. And since the advent of HFT and now AI it's even more impossible. So the idea that some drug addicted broccoli heads can do it means they're cheating.