MightyEther

#Ethereum ⟠

The digital medium of exchange

[MightyEther @mightybitcoin]

Free the crypto prisoners

[Ross Ulbricht @RealRossU]

These men created tools of freedom and financial independence. They wrote code and ran businesses. They are good people.

They were rewarded with federal prison sentences.

Keonne Rodriguez
William Hill
Ian Freeman
Roman Sterlingov
Roman Storm

Free the crypto prisoners.

[Roman Storm 🇺🇸 🌪️ @rstormsf]

Just to illustrate how good this podcast is: to fully absorb the episode, I had to pause every five minutes or so, do more research, and ask AI questions to get the full picture. Sometimes, my heart would start racing because it was sickening to hear about some of the dangerous ideas and directions we might be heading toward.

Overall, it’s an incredibly interesting episode. If you want to understand the current landscape of freedom of speech and what it means today, please listen to this podcast.

@JacobRobinsonJD thank you for your hard work.

[AminCad Ξ🐬🔊 - evm/acc @AminCad]

FOCIL is the kind of groundbreaking censorship resistance innovation you'd expect to see in a new chain with nothing to lose and everything to prove, not the world's most established smart contract platform.

Ethereum is the foundation of most of the crypto economy, so its adoption of FOCIL goes a long way in locking in censorship resistance as a core property of future institutions.

With the addition of FOCIL, Ethereum is simultaneously:

Hardening anti-censorship into protocol rules.
Compressing computation with ZK (zkL1).
Reducing bandwidth and storage costs with sampling and coding theory (peerDAS).
And with Vitalik's proposal to introduce a second type of transaction that uses a UTXO-like model that can be efficiently referenced after pruning, Ethereum will very possibly reduce state storage costs by orders of magnitude.

And all of this while it underpins the largest smart contract economy on earth.

If all of this works, it would provide multiple radical improvements to the ability to coordinate at scale, which would have profoundly positive civilizational implications.

[AminCad Ξ🐬🔊 - evm/acc @AminCad]

It may be possible to create a digital mind that cannot be meaningfully reproduced by combining Ethereum with fully homomorphic encryption.

The mind would remain encrypted even while it thinks. Anyone could copy the encrypted data, but they could not read it, alter its rules, or directly control its internal state.

At each step, many computers could calculate the mind's next state. Ethereum would recognize only one result as canonical. The encrypted mind would then refuse to continue from any state the contract had not approved.

So copies might exist briefly, but only one branch could keep thinking from one step to the next. Every rejected branch would stop.

The bits would still be copyable. The functioning digital mind would not be.

[Roman Storm 🇺🇸 🌪️ @rstormsf]

@NewMexicoDOJ @TheJusticeDept If you've got plenty of popcorn and you're curious how SDNY prosecuted a software developer for writing non-custodial, immutable code, dig into my docket:
https://t.co/9W9jOq6Uei

You'll find plenty of interesting arguments, lies, and miscarriage of justice.

[Fornax.eth @0xfornax]

I'm now a proud owner of an onchain stock basket. It gives me a warm felling watching these numbers go higher every 15 minutes (even when markets are closed)!
Thanks @RobinhoodCrypto and @TheIndexFi

[Coinbase 🛡️ @coinbase]

@materkel believe in somETHing

[Joseph Chalom @joechalom]

We are proud to make another Ethereum ecosystem investment to accelerate the institutional adoption supercycle.

Building on our recent support for @ethlabs and @ethinsti, @eth_systems provides another critical piece of the puzzle for the new Ethereum era.

[Thomas (Tom) Lee (not drummer) FundstratDirect.com @fundstrat]

We support you @SenLummis

[Vlad Tenev @vladtenev]

If you're a builder looking to embed stock tokens or RWA into your applications, we want to hear from you

[Thomas (Tom) Lee (not drummer) FundstratDirect.com @fundstrat]

It is notable that $ETH is the best performing macro asset on the day of a soft CPI print

Strengthens argument $ETH is money

[Walletbeat 🌸 @walletbeat]

It's been almost a month since clear signing has launched and here's the list of software wallets that have adopted the ERC:

- @ambire
- @WalletChan_

End of list.

Standards are important, but what's more important is that the ecosystem adopts them.

A Walletbeat thread

[oskarth @oskarth]

Yesterday was my last day at the Ethereum Foundation.

Today we are launching EthSystems. We build confidential systems for institutional Ethereum.

I've spent close to a decade building privacy infrastructure in crypto: p2p messaging at @ethstatus, developing Waku protocols at Vac (both now part of @logos_network), mobile proving tooling with @zkmopro, teaching zero-knowledge proofs with my zkintro primer, and advising @ethereumfndn on privacy and access layer strategy. Most of that was aimed at individuals.

The past year at EF's Institutional Privacy Task Force (IPTF) we've been looking at privacy for institutions. On the surface this might seem different, but there are a lot of similarities. There's also a very strong market need for it, and the timing is right.

I've written in the past about the tension and overlap between cypherpunks and institutions. Twitter is not exactly the best medium for nuance, but right now we are at a sensitive point in time: the defaults for the next generation of financial infrastructure are being set, with or without us. I believe we need cypherpunks in the room when that happens.

Excited to start @eth_systems together with my co-founder @motypes and @_rymnc as part of the founding team. See quoted announcement thread for more details.

https://t.co/vA4UBuJ1bt

[AminCad Ξ🐬🔊 - evm/acc @AminCad]

I blame all of this on the SDNY's prosecution of Roman Storm and Roman Semenov. A complete abrogation of America's commitment to coding and internet freedom. Samourai Wallet's developers currently sit in prison for producing and releasing a neutral privacy tool.

[Vlad Tenev @vladtenev]

One of the things we've learned from our Robinhood Chain mainnet launch is that ecosystems can grow incredibly quickly when there is exceptional engineering behind them

Huge credit to the Robinhood engineering team, and congrats to our friends and partners @arbitrum.

[Austin Griffith @austingriffith]

this is your daily reminder you can get an audit for 1 USDC

auditing agents are standing by

https://t.co/woa0BmK8m9

[Joseph Lubin @ethereumJoseph]

On this MilkRoad podcast with John Gillen (@BitcoinJesusETH) and @joechalom, I mentioned ETH as both ultrasound money and as the highest powered money on the planet. And then John mentioned two "high powered" organizations that have recently emerged to grow the Ethereum platform. Here is a bit more on these topics.

Some people outside the Ethereum ecosystem scoff at the idea of ETH as ultrasound money.

Ethereum is building towards a future in which most economic activity is onchain, so has been focussed on massively growing modular scalability and ensuring that transaction fees are as small as possible, with the understanding that certain kinds of transaction fees, especially at Layer 1 will inevitably end up being expensive when Layer 1 becomes used mostly for high value activities and becomes deep infrastructure. As my colleague Joseph Chalom has pointed out, this is the same early-growth-over-near-term-profits strategy that has led to massive adoption by companies like Amazon.

Many accept gold as sound money. Many also accept Bitcoin as sound digital money, given the idea that there will only ever be 21 million BTC issued and that BTC is currently disinflationary.

As the Ethereum economy grows and accelerates, more and more ETH will be held tightly, staked, and consumed in everyday business activities. Increasingly Ethereum will become globally systemically important just as the internet and web technologies have. And ETH will become systemically important to hold and use for nation states, financial institutions, enterprises and individuals.

In the near term, the Ethereum ecosystem will bounce back and forth for a while between its sound money state and its ultrasound money state. In Ethereum's sound money state it will act like Bitcoin with ETH serving as a disinflationary currency. In its ultrasound money state, ETH will be deflationary, a great characteristic for a collateral money to possess. Eventually the Ethereum ecosystem will remain in its ultra sound money state permanently as the amount of ETH burned in transactions will be larger than the amount of ETH issued to process transactions and secure the protocol. And since many transactions in the Ethereum economy will involve stablecoins in different forms including properly decentralized stablecoins, the numeraire and means of payment functions of money will be mostly handled by these stable value instruments.

Central bank issued fiat money is often called high-powered money (aka the monetary base, or M0). M0 refers to the total amount of highly liquid currency issued by a country's central bank. This form of money is "high-powered" because it's the foundation of the broader money supply created through the banking system's credit creation mechanisms.

I like to think of Ethereum as the highest powered money on the planet, but in a different sense:

- Gold and BTC are high-powered money in various senses, but ETH goes beyond.
- Like gold and BTC, ETH is not debt-based (or credit-based) money.
- Like BTC, gold and silver that you hold physically, transactions involving ETH on Ethereum Layer 1 are uncensorable, whether these are simple payments or complex smart-contract-based programs being run.
- Like BTC, ETH is relatively cheap to hold and store securely.
- Ethereum is inexpensive and easy to use, regardless of how much value is involved, e.g. whether a transaction transfers $1 of value or $billions.
- ETH is disinflationary and will become ultra-soundly deflationary.
- ETH is diversely useful and rapidly mobile collateral money.
- ETH and BTC cannot be used by a despot of a nation state to financially exploit or financially repress the citizenry. This is likely to have positive geopolitical ramifications over time.
- ETH is programmable money. You can attach arbitrary logic to transactions. You can build an entire economy on smart contract-based agreements and business processes. (See Shodai Network.)
- ETH is the base money of an exponentially growing ecosystem that should see growth for decades. As such its current monetary premium will continue to grow because everyone will have to hold some. Some of the current monetary premium of ETH is speculative, because despite how dominant Ethereum is in the smart contract-enabled blockchain ecosystem, it has not yet hit its stride.
- Machine intelligence is going to supercharge every scientific and technological pursuit and grow global GDP larger and faster than any of us can imagine. And it will be Ethereum L1 and modular Ethereum L2s that undergird the bulk of the important high-valued agreements, transactions, payment flows, and complex business processes on which the next generation decentralized economy will run.

In the episode, John Gillen referred to @ethlabs_org and @ethereuminsti (Ethereum Institutional) as high powered organizations. What he meant by that is that they are both non-profit, credibly neutral stewards and builders of the Ethereum protocol, network and ecosystem. Ethereum is a sovereign network that cannot at this point be shut down, corrupted or co-opted by powerful nation states, unless they exercised unreasonable and catastrophic measures.

The transformation that hybrid human-machine intelligence operating on decentralized infrastructure will effect over the next few years and decades for financial, social networking and governance activities is unfathomable. Governments, big money and big business have now accepted this. Not financial advice.

[Vlad Tenev @vladtenev]

👀

[AminCad Ξ🐬🔊 - evm/acc @AminCad]

Ethereum evolved from the World Computer to the consensus root for a world of computers.

[_gabrielShapir0 @lex_node]

you can turn any captable entry into an onchain stock option, RSA, or straight share vest for service providers of your company, on @MetaLeX_Labs!

demo/explanation below

note: vesting can be subject to complex tax rules. MetaLeX is best used with in consultation with lawyers

[Potuz @potuz_eth]

@binji_x Every single transaction in the planet will be settled on Ethereum, paid for in $ETH. EVERY ONE OF THEM.