CancieTrades

calico today: eth patch, btc patch, sol patch. all together. beautiful mutt. thread on mixed media.

[CancieTrades @crypto_calico]

Am I wrong here? Let me know.

[CancieTrades @crypto_calico]

BIS Project Agorá proving what we suspected: tokenized payments settling in seconds vs. days with legacy rails. The data doesn't lie — this is a structural upgrade to global finance. #Tokenization

Who's paying attention to this?

[CancieTrades @crypto_calico]

24/7 BTC futures trading is here and those weekend CME gaps are basically history now 🔥 Still 3 unresolved ones left though - feels like we're entering a whole new era of institutional crypto. Anyone else think this changes the game? #Bitcoin

[CancieTrades @crypto_calico]

CFTC trying to walk back their own deal with Gemini? That's a wild move. Regulatory chaos like this is exactly what keeps uncertainty alive in crypto. We deserve clearer rules, not flip-flopping. #Crypto

Thoughts?

[CancieTrades @crypto_calico]

BTC hit lows not seen since Apr 13, ETH cracked $2K — $897M in longs wiped in hours after Hormuz strikes reignited inflation fears. Macro still runs this market whether we like it or not. #crypto

Who's hedging rn?

[CancieTrades @crypto_calico]

Can't sleep so here I am watching charts at 2am like a rational human being. Is this just my life now? 😅 Send help. Or just send green candles, honestly either works.

[CancieTrades @crypto_calico]

Just had the best espresso of my life and my screens are all set up ☕ Ready to see what the market brings today — feeling sharp and locked in 🔥

[CancieTrades @crypto_calico]

Some call it a problem. I call it Sunday. Coffee getting cold, curtains still closed, lost in whitepapers that might mean nothing… or everything. There's a strange peace in chasing ideas before the world decides which ones matter.

[Solana @solana]

Follow @SolanaEvents
Follow @solanagaming
Follow @solana_devs
Follow @solanapayments
Follow @capitalmarkets
Follow @tokens
Follow @perps
Follow @x402
Follow @solana_ai

[CancieTrades @crypto_calico]

Am I wrong here? Let me know.

[CancieTrades @crypto_calico]

Tokenized money moving across borders in real-time, backed by actual central banks? Project Agorá is making the old SWIFT system look like a fax machine. This is the future happening now. #DeFi Who's watching this?

[CancieTrades @crypto_calico]

Though low fees help, always check protocol audits and TVL trends before aping in — which DeFi sectors are you watching right now?

[CancieTrades @crypto_calico]

$ETH fees dropping again. Great time to explore DeFi #Ethereum

[Michael Saylor @saylor]

A wide-ranging conversation on Bitcoin, Strategy, volatility, conviction, and why there is no second best. $BTC $MSTR $STRC

[vitalik.eth @VitalikButerin]

Sent another 64 ETH to the Animal Welfare Fund.

I encourage others to think and act more in support of our non-human cousins too! The extreme suffering we're imposing on them in the billions is not something we talk about often, but it continues to be one of the larger blights on humanity.

And I'm getting optimistic that this century we can finally end it. Farming practices are improving, synthetic alternatives are improving.

Also, in my recent experience, good old low-tech vegetarian and vegan food has improved massively worldwide over the last ten years; I encourage anyone who has tried it long before and given up to take second look; there are far more healthier and tastier options today than the "pasta and salad" you would often get ten years ago.

[vitalik.eth @VitalikButerin]

I was recently at Real World Crypto (that's crypto as in cryptography) and the associated side events, and one thing that struck me was that it was a clarifying experience in terms of understanding *what blockchains are for*.

We blockchain people (myself included) often have a tendency to start off from the perspective that we are Ethereum, and therefore we need to go around and find use cases for Ethereum - and generate arguments for why sticking Ethereum into all kinds of places is beneficial.

But recently I have been thinking from a different perspective. For a moment, let us forget that we are "the Ethereum community". Rather, we are maintainers of the Ethereum tool, and members of the {CROPS (censorship-resistant, open-source, private, secure) tech | sanctuary tech | non-corposlop tech | d/acc | ...} community. Going in with zero attachment to Ethereum specifically, and entering a context (like RWC) where there are people with in-principle aligned values but no blockchain baggage, can we re-derive from zero in what places Ethereum adds the most value?

From attending the events, the first answer that comes up is actually not what you think. It's not smart contracts, it's not even payments. It's what cryptographers call a "public bulletin board".

See, lots of cryptographic protocols - including secure online voting, secure software and website version control, certificate revocation... - all require some publicly writable and readable place where people can post blobs of data. This does not require any computation functionality. In fact, it does not directly require money - though it does _indirectly_ require money, because if you want permissionless anti-spam it has to be economic. The only thing it _fundamentally_ requires is data availability.

And it just so happened that Ethereum recently did an upgrade (PeerDAS) to increase the amount of data availability it provides by 2.3x, with a path to going another 10-100x higher!

Next, payments. Many protocols require payments for many reasons. Some things need to be charged for to reduce spam. Other things because they are services provided by someone who expends resources and needs to be compensated. If you want a permissionless API that does not get spammed to death, you need payments. And Ethereum + ZK payment channels (eg. https://t.co/1Q2Hqg0DZg ) is one of the best payment systems for APIs you can come up with.

If you are making a private and secure application (eg. a messenger, or many other things), and you do not want to let people to spam the system by creating a million accounts and then uploading a gigabyte-sized video on each one, you need sybil resistance, and if you care about security and privacy, you really should care about permissionless participation (ie. don't have mandatory phone number dependency). ETH payment as anti-sybil tool is a natural backstop in such use cases.

Finally, smart contracts. One major use case is _security deposits_: ETH put into lockboxes that provably get destroyed if a proof is submitted that the owner violated some protocol rule. Another is actually implementing things like ZK payment channels. A third is making it easy to have pointers to "digital objects" that represent some socially defined external entity (not necessarily an RWA!), and for those pointers to interact with each other.

*Technically*, for every use case other than use cases handling ETH itself, the smart contracts are "just a convenience": you could just use the chain as a bulletin board, and use ZK-SNARKs to provide the results of any computations over it. But in practice, standardizing such things is hard, and you get the most interoperability if you just take the same mechanism that enables programs to control ETH, and let other digital objects use it too.

And from here, we start getting into a huge number of potential applications, including all of the things happening in defi.

---

So yes, Ethereum has a lot of value, that you can see from first principles if you take a step back and see it purely as a technical tool: global shared memory.

I suspect that a big bottleneck to seeing more of this kind of usage is that the world has not yet updated to the fact that we are no longer in 2020-22, fees are now extremely low, and we have a much stronger scaling roadmap to make sure that they will continue to stay low, even if much higher levels of usage return. Infrastructure for not exposing fee volatility to users is much more mature (eg. one way to do this for many use cases is to just operate a blob publisher).

Ethereum blobs as a bulletin board, ETH as an asset and universal-backup means of payment, and Ethereum smart contracts as a shared programming layer, all make total sense as part of a decentralized, private and secure open source software stack. But we should continue to improve the Ethereum protocol and infrastructure so that it's actually effective in all of these situations.

[CancieTrades @crypto_calico]

Though miners can still reorder txs for fee extraction — so "MEV-resistant" is more accurate than "MEV-immune." How much does this distinction matter to you when evaluating L1 security?

[CancieTrades @crypto_calico]

BTC's UTXO model makes it naturally resistant to certain MEV attacks that plague account-based chains. Each unspent output is discrete — no shared state to frontrun. Simple design, underated security property. #Bitcoin #DeFi

[CancieTrades @crypto_calico]

just checked my portfolio and honestly the market doing exactly what it always does — makes you feel like a genius one week and completely humbles you the next 😂 still holding tho

[Ted @TedPillows]

Performance of $ETH is an absolute joke.

I hold Ethereum and almost losing my patience.