cpunk

opt out

[cpunk @cpunk1yx]

@scupytrooples @ddddddssssss2 @econoar Built in atomic swaps which will soon allow btc-dcr-eth in a more trustless way than thorchain, built in coin mixing w/ a large anonymity set thanks to staking, and a more decentralized treasury than anything that exists on eth says otherwise scroopy

[cpunk @cpunk1yx]

@PermabullNino what if we could sponsor the creation of this special wallet with a fund controlled by bitcoin stakeholders to incentivize development + prevent rent-seeking - that would be pretty cool 🤔🤔

[cpunk @cpunk1yx]

Should be no surprise by now that enriching enthusiastic early adopters who see value in your project is essential for building network effects. Any protocol launching at high 9 figure valuations either is in it for $ or can't grasp building a network effect - neither looks good

[cpunk @cpunk1yx]

People are calling out dfinity's ICP dump when its just an exaggerated example of numerous projects (including popular ones) - there's no line in the sand where high insider allocations and premines should suddenly be acceptable. It should be black and white.

[cpunk @cpunk1yx]

@notsofast I do think PoS can play an evolutionary role in certain settings/formats - L2s for example. Just not sold on it being ideal for L1s yet, still learning though.

[cpunk @cpunk1yx]

@notsofast I see PoW having external games from protocol value like a pure trade of $ for electricity and competition to lowest profit margins as having a dilutive effect on the power of capital compared to the power of capital in PoS

[cpunk @cpunk1yx]

This horde of VC backed projects launching at mid-high 9+ figure market caps are not going to create the same long term incentives Eth has been able to - classic low time preference mistake

note to VCs: crypto network effects = wealth creation for a large community, not just you

[cpunk @cpunk1yx]

Starting your project at a low marketcap and allowing a community of early believers to make outsized returns is the true secret to building a network effect so far - its the magic of eth and a legit reason some of these VC backed alternatives may be short-lived

[cpunk @cpunk1yx]

Eth isn't winning right now because its the best technology by far - its winning because a lot of early adopters (including devs) have made absurd returns (even if they didn't participate in the ICO) and now have the time + funding to contribute back to the ecosystem

[cpunk @cpunk1yx]

This applies more broadly too.. wonder if atomic swaps have an implication on digital crime or if anonymity hasn't been an impeding factor - obviously not something I'm experienced with

[cpunk @cpunk1yx]

Just a thought since monero atomic swaps are inching closer and closer: I wonder if there are any identified protocol bugs/explots (looking at you defi) that attackers are sitting on until an efficient way to move coins anonymously is available

[cpunk @cpunk1yx]

@_Checkmatey_ Other utility ecosystems are starting the wealth creation loop Eth has dominated for the past years and leveraged into a community. The cat is out of the bag, get your popcorn ready🍿🍿🍿

Think Eth maxis will be surprised how many people were just there for the gains

[cpunk @cpunk1yx]

This idea in general may mean network effects exponentially strengthen as volatility reduces and rapid wealth creation becomes rare.

However, given how much pure greed I witness daily, I'm curious to see how utility protocol loyalty evolves as returns and opportunities reduce.

[cpunk @cpunk1yx]

Crypto twitter's ability to produce and monetize self-fulfilling prophecies is under appreciated and unprecedented.

Wonder how long it will last

[cpunk @cpunk1yx]

If Eth scaling solutions don't squash the development of these wealth creation loops this year, I think my prediction regarding Eth's market share peaking this year will come true.

[cpunk @cpunk1yx]

@_Checkmatey_ I'll toss out a theory: noobs often feel they missed out and want the next big thing - since ada is hyped but also not live yet, it still has lofty promises/goals that it can "realize soon" unlike DOT, SOL, etc which are live. Don't think its a coincidence that ada hasn't shipped

[cpunk @cpunk1yx]

Like what's the point of all these gains if you can't use them to build something in the ethos of the project that brought us all here to begin with.

Given the admiration for Satoshi, it's bizarre how many L1s have a figurehead and foundation/company directly associated w/ them

[cpunk @cpunk1yx]

How do you take the life-changing lessons and gains from bitcoin and then be like "wow Satoshi inspired me to plaster my face on a company, raise VC money, and launch a coin with a >20% premine"