Any Californians interested in getting a CLASS ACTION LAWSUIT together for the knowingly GROSS NEGLIGENCE and theft of $180B+ of our tax dollars? Any attorneys want to get on board? We have standing and the evidence pouring out is overwhelming.
Cc @HarmeetKDhillon
A great list put together by @ethereum detailing 35 major financial institutions building on Ethereum in just the past few months
Ethereum is the future of finance
$ETH
$BMNR @BitMNR
Ethereum itself must pass the walkaway test.
Ethereum is meant to be a home for trustless and trust-minimized applications, whether in finance, governance or elsewhere. It must support applications that are more like tools - the hammer that once you buy it's yours - than like services that lose all functionality once the vendor loses interest in maintaining them (or worse, gets hacked or becomes value-extractive). Even when applications do have functionality that depends on a vendor, Ethereum can help reduce those dependencies as much as possible, and protect the user as much as possible in those cases where the dependencies fail.
But building such applications is not possible on a base layer which itself depends on ongoing updates from a vendor in order to continue being usable - even if that "vendor" is the all core devs process. Ethereum the blockchain must have the traits that we strive for in Ethereum's applications. Hence, Ethereum itself must pass the walkaway test.
This means that Ethereum must get to a place where we _can ossify if we want to_. We do not have to stop making changes to the protocol, but we must get to a place where Ethereum's value proposition does not strictly depend on any features that are not in the protocol already.
This includes the following:
* Full quantum-resistance. We should resist the trap of saying "let's delay quantum-resistance until the last possible moment in the name of ekeing out more efficiencies for a while longer". Individual users have that right, but the protocol should not. Being able to say "Ethereum's protocol, as it stands today, is cryptographically safe for a hundred years" is something we should strive to get to as soon as possible, and insist on as a point of pride.
* An architecture that can expand to sufficient scalability. The protocol needs to have the properties that allow it to expand to many thousands of TPS over time, most notably ZK-EVM validation and data sampling through PeerDAS. Ideally, we get to a point where further scaling is done through "parameter only" changes - and ideally _those_ changes are not BPO-style forks, but rather are made with the same validator voting mechanism we use for the gas limit.
* A state architecture that can last decades. This means deciding, and implementing, whatever form of partial statelessness and state expiry will let us feel comfortable letting Ethereum run with thousands of TPS for decades, without breaking sync or hard disk or I/O requirements. It also means future-proofing the tree and storage types to work well with this long-term environment.
* An account model that is general-purpose (this is "full account abstraction": move away from enshrined ECDSA for signature validation)
* A gas schedule that we are confident is free of DoS vulnerabilities, both for execution and for ZK-proving
* A PoS economic model that, with all we have learned over the past half decade of proof of stake in Ethereum and full decade beyond, we are confident can last and remain decentralized for decades, and supports the usefulness of ETH as trustless collateral (eg. in governance-minimized ETH-backed stablecoins)
* A block building model that we are confident will resist centralization pressure and guarantee censorship resistance even in unknown future environments
Ideally, we do the hard work over the next few years, to get to a point where in the future almost all future innovation can happen through client optimization, and get reflected in the protocol through parameter changes. Every year, we should tick off at least one of these boxes, and ideally multiple. Do the right thing once, based on knowledge of what is truly the right thing (and not compromise halfway fixes), and maximize Ethereum's technological and social robustness for the long term.
Ethereum goes hard.
This is the gwei.
Has your lived experience in California gotten 3x better in the past 20 years? Because your taxes and borrowing have gone up to triple spending in that same time.
California Population:
2004: 35.6M
2024: 39.4M
California Spending:
2004: $155B ($4,350/person)
2025: $510B ($12,940/person)
Fusaka is live on Ethereum mainnet!
- PeerDAS now unlocks 8x data throughput for rollups
- UX improvements via the R1 curve & pre-confirmatons
- Prep for scaling the L1 with gas limit increase & more
Community members will continue to monitor for issues over the next 24 hrs.
.@pmarca on an Atlas Shrugged movie in 2025: " It would be the Silicon Valley version of the Minecraft movie. It would just be like, 'Yep, we're all going.'"
"Every time I've ever talked to anybody who's read Atlas Shrugged in the last five years, they're like, 'Wow. It's the novel about the world we live in.' It's like, 'Oh I know that guy, and I know that guy, and I know that guy.'"
Why don’t socialists understand this straightforward concept and always land in the red area with their populist taxation approach?
Isn’t it common sense that successful people either lose motivation to work hard, or simply emigrate, when they are taxed too much?
I am 100% aligned with almost all of what Tom @fundstrat says here.
Yes, Wall Street will stake because they currently pay for their infrastructure and Ethereum will replace much of the many siloed stacks they operate on (e.g. JPMorgam probably operates on several siloed stacks from all of the banks they've acquired and absorbed over the years). They will need their heads fully in our game, because our game will be called ... Finance. They will need to become a TradFi company that operates on decentralized rails, and that means staking, running validators, operating L2s/L3s/etc, participating in DeFi and writing smart contract software for agreements, processes and financial instruments, etc. This will be a relatively easy transition for JPM because they've been exploring and using Ethereum technology for their private blockchain networks since 2014-2015. And many other financial institutions also have solid Ethereum experience.
The narrative of L2s cannibalizing L1 will very soon be shattered. See @lineabuild and Proof of Burn at https://t.co/vrKG3vRuUe for an example of how this will soon pick up momentum.
Yes, ETH will likely 100x from here. Probably much more.
Yes, Ethereum/ETH will flippen the Bitcoin/BTC monetary base.
Yes, Tom and I are friendly and get on calls intermittently to discuss elements of the strategy and ways we can collaborate in the general furtherance of the strategy even while we compete in highly differentiated ways over time.
The one quibble that I have with what Tom has been saying, and I keep telling him this: he is not nearly bullish enough.
But the real problem is that it is not possible to be bullish enough. Nobody on the planet can currently fathom how large and fast a rigorously decentralized economy, saturated with hybrid human-machine intelligence, operating on decentralized Ethereum Trustware, can grow. Trust is a new kind of virtual commodity. And ETH, the highest octane decentralized trust commodity, will eventually flippen all the other commodities on the planet. Decentralized trust is all you need.
.@pmarca: "The person who writes down the thing has tremendous power."
In most companies, almost no one does it.
If you can turn chaos into a coherent plan on paper, people will follow your lead, whether you have the title or not.