Subsonicflo

🦇🔊

[Propy @PropyInc]

Here’s how the Propy x @milocredit stack works:

- Qualify using your $BTC holdings
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https://t.co/w9Gdzr39p4

[Propy @PropyInc]

No liquidation. No tax event. Full $BTC sovereignty.
Join us at at 1PM EST while we break down crypto mortgages and onchain closings .
Joined by: @JRupena + @nataliepropy @thinkingcrypto @itsthatgigi, hosted by Propy & @milocredit
Real alpha on how the onchain real estate game works.
Tap the 🔔. Set the reminder.
https://t.co/YHqMKvz8ZM

[vitalik.eth @VitalikButerin]

Some of my perspective on where the @ethereumfndn is going.

First of all, this is only my own view. The board is not just me, and I have no extra special powers on the board that the other board members do not. @aerugoettinea is the one executing much of this transition. My input has been largely on technical questions. The board is in the process of expanding, and my own power within the org will continue to decrease, which is honestly what I want.

The 2025 era brought many important improvements to EF and its ability to execute. Many issues were resolved, and EF continues to benefit from its improved efficiency and greater focus on concrete goals to this day. And so with those problems resolved, early this year, the largest remaining hole that I perceived was something different nagging at me: I would regularly spot people saying things like "vitalik says these beautiful things about ethereum needing to be decentralized, and have privacy, and be a sanctuary technology, but why do the EF's actions not reflect that?"

Now, you may have been hearing something different. You may not have been sensing a feeling of crisis at all, and maybe were hearing people saying that finally we were taking execution and BD seriously and the main task for us is to keep going that way and be even better and faster. Then probably there is genuine difference between you and me, in what kinds of criticism I take most seriously, and what kinds of critics through their criticism are most able to make me feel pain.

As an analogy, let's briefly switch over to a different domain.

One belief you can have about Google is that it is a success story, and has brought a lot of good to humanity in organizing the world's information. Another belief you can have about Google is that they had a beautiful idealistic beginning, but at some point the corruption of mainstream corporate attitudes seeped in, and they slowly bit by bit completely abandoned the "don't be evil" slogan.

My belief on Google specifically is probably somewhere between the two. BUT, if you had taken me back in time to ~2008, and offered me a button to press to make Google one or two standard deviations more "dogmatic", eg. give Richard Stallman permanent veto power over some key policies, I would immediately press it.

Why? Because a choice for one company is not a choice for the world, or even one country. Google existed and exists in the context of a technology industry generally drifting away from early idealistic don't-be-evil roots and toward greed for financial gain, totalizing visions of accelerated superintelligence, infiltration by sociopaths, and craven capitulation to (or worse, active participation in) government pressure for ideological control, surveillance and war. And so *one company* doing something different, positioning itself to be what George Bernard Shaw calls the Unreasonable Man, resisting the trend of the times, would have been better for freedom, balance of power and stability of society as a whole, than *all* large companies bending to dominant trends. This is a part of my version of pluralism.

This line of thinking is not just mine, but I also is not too far off from what Aya and others had in mind with the Mandate.

Now how does this all get to the role of the EF?

EF is not a "center of Ethereum", rather EF is "one node, with a defined purpose, alongside other nodes". We've always said that the EF should be the latter, but many in the Ethereum ecosystem (and even within the EF) wanted us to be the former. Now, we are taking action to ensure that we will be the latter.

This is particularly important because EF is a limited organization, with limited resources and limited organizational capacity. The EF has only ~0.16% of all ETH (less than many other individual ETH holders), whereas among other blockchains it's common for "the central foundation" to have 10-50%. Fiscally, the EF was originally designed to fulfill a limited work scope defined in the token sale docs and other pre-launch materials (building the chain software; getting through Frontier, Homestead, Metropolis, Serenity), which was fully completed in 2022; it was not designed to be an eternal steward.

And so today, the EF is choosing to use its remaining resources to pursue longevity over breadth (yes, this means we sell less ETH). The EF focuses *specifically* on those activities critical to the success of ethereum as a censorship/capture-resistant, open, private and secure system, that would not happen otherwise. This means making hard choices, and in some cases even activities that we highly approve of and people that we highly respect becoming outside of the EF. People of great technical talent, public respect and even alignment with the mission and CROPS being outside of the EF is in fact necessary if we want important tasks to be able to attract outside capital. This also means the EF taking opinionated stands culturally.

This is all intended in cooperation with all other parts of ethereum. We recognize that many other parts of the ethereum world highly respect CROPS and related values. But highly respecting is not the same as choosing to specialize and totally dedicate to a domain (Compare in a different domain: I think reducing animal cruelty is important, and I like vegan food, but am not full unconditional vegan myself)

EF is still in a transition period, and we expect its new long-term form to stabilize over the next few months. What are the guiding principles of this new form? Again, I am only one person, but I can give my answer from a technical perspective (there are also critical non-technical aspects).

At the core, *Ethereum must be impressive*. We are living in an age of highly intelligent AI and all kinds of other technological acceleration. "Status quo EVM, with a hard fork or two a year to optimize for short-term needs of users" is not interesting.

To some, "impressive" means: 250ms latency and 1M TPS. I think Ethereum trying to go that route is a mistake. Being as fast and as scalable as possible, and only a small epsilon more decentralized than the others, is a route to mediocrity, and if we try it we will lose.

I think Ethereum should scale. But I think Ethereum should strive the hardest to be deeply impressive in a different dimension: the CROPS dimension. This means things like:

* Provably bug-free Ethereum. This is a goal that all cybersecurity researchers would have thought is absurd and impossible, up until roughly 6 months ago. Now, it's on the cusp of being possible, thanks to AI-assisted formal verification. So we should be frontrunners in doing this.

* Available chain consensus. Ethereum is, and with lean consensus will cotninue to be, the ONLY chain that has both (i) traditional-BFT style properties that it's safe under asynchrony up to a high level of fault tolerance, and (ii) the bitcoin PoW-style property that under synchrony it's safe up to 49% attackers. As far as I can tell, literally no other chain has this or is planning for it; bitcoin goes for (ii) only and most other chains go for (i) only. Some will remember I fought hard for this, Unreasonably insisting that it is not OK for ethereum to rely on social consensus and hard forks to rescue ethereum from 34% of nodes going offline. It's OK for chains like hyperledger, bnb, solana, tempo, etc. It's not OK for bitcoin or ethereum or eg. zcash.

* Intermediary minimization. The fact that smart contract wallets, protocols like railgun, etc have to send transactions through intermediaries to get included onchain is honestly embarrassing, and it's a constant point of fragility. Hence the work on FOCIL and EIP-8141 (and 7701 and years of work before) to make transaction sending intermediary-minimized with public mempool and strong inclusion properties, in a truly general-purpose way, that covers not just eg. secp256r1, but also privacy protocols and much more. Kohaku is pushing intermediary minimization at the user layer, pulling Ethereum away from the dystopian status quo world where our wallets don't even verify the chain, send our private data out to a dozen third-party servers, and toward a brighter CROPS future.

Some of these goals are Unreasonable - maybe Ethereum would be "fine" getting only 50% of the way - what if we depend on intermediaries, but make it easy to switch? But going 50% of the way would not make Ethereum Deeply Impressive in the CROPS way. So we push for 100%.

Fortunately all these goals are compatible with high TPS, this is a major focus of research (esp. on scaling the state). Well-designed L2s can also help, especially L2s optimized for specific applications (eg. high-volume trading, privacy...). These goals are even compatible with significantly lower slot times, thanks to Raul's work on erasure-coded P2P, and many other optimizations.

The most high-value "product" of the ethereum blockchain, financially speaking, is ETH the asset. Ethereum secures $250 billion of ETH. The types of properties of Ethereum that I mentioned above are very good for ETH the asset. Nearly 90% of my net worth is in ETH, and most of the remainder is ~$40m of onchain fiat of which every dollar has already been allocated for some open-source biotech or software or hardware initiative. That said, there are aspects of supporting ETH the asset - *necessary* aspects even - that are outside the scope of the EF. This is where we need other heroes (some of whom hold more ETH than the EF does) to step in and help. EF has been recently thinking more about how it will relate to other such organizations, and give them needed initial support.

EF will be a smaller ship than in previous years, a more opinionated one - in some cases more opinionated in ways that might be difficult to comprehend - but a longer-lasting one, and one suited to making sure that ethereum brings something meaningful to the world. We are grateful to all those inside and outside the EF who are helping to make this happen.

[Bankless @Bankless]

From Bankless, to ETHless

@TrustlessState speaks on the Weekly Rollup tomorrow...

[AdrianoFeria.eth 🦇🔊 🛡️ @AdrianoFeria]

Everyone is unstaking ETH and leaving... it's over.

[Bitcoin Well @bitcoinwell]

The American Bankers Association sent a panicked email to every bank CEO in America on Mother's Day.

Their problem? The Clarity Act might let Americans earn real yield on stablecoins instead of the 0.04% your checking account pays.

They called it a "loophole." Watch the language. They mean "competition."

Here's what nobody fighting this is saying out loud: both sides want you on permissioned money. Banks want your deposits trapped at zero. Stablecoin issuers want them trapped at five. Either way, your money lives in someone else's database, subject to someone else's terms, frozen by someone else's keystroke.

Bitcoin doesn't have a deposit. Bitcoin doesn't have an issuer. Bitcoin doesn't have a CEO writing panicked Mother's Day emails.

The fight neither side is having: the right to hold your own savings.

Self-custody is the only exit from the current game.

[soothsayer @iamasoothsayer]

2023: Corona ended
2026: Hantavirus

[Ryan Cohen @ryancohen]

I have been suspended from eBay

[GameStop @gamestop]

GameStop Proposes to Acquire eBay at $125.00 Per Share

https://t.co/QYynT84H7Z

[Ryan Cohen @ryancohen]

Proposal to acquire eBay.
https://t.co/FwjcxbDmyt

[Jon Flynn | Real Estate Data & Analysis @JonFlynnREstats]

Highest monthly MLS sales in Canadian History, March 2021, 65,960 sales.

Avg Price $713,878

Avg Closing 60 days

5 yr fixed rates then 1.59-1.99%

5 yr fixed rates now 4.09-4.29%

This year will be interesting.

[Subsonicflo @subsonicflo]

@Ledger Freedom from compromise for me: unrestricted control over my own assets.

[Ledger @Ledger]

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[Bankless @Bankless]

$ETH will rise

[Benjamin Cowen @benjamincowen]

I have a:

BS in Mathematics
PhD in nuclear engineering
Post Doc in high energy density physics
Worked at NASA and a National Lab

and yet you reduce me to a "crypto influencer"

If educated people cannot talk about politics, then who are you left with?

Trump already told you smart people don't like him.

I wonder why that is?

Do you think you might be able to figure it out?

[NASA @NASA]

A new milestone for humankind: The crew of Artemis II are now the farthest any human has ever travelled, reaching a maximum distance of 252,752 miles from Earth.

This surpasses the previous record set by Apollo 13 in 1970 by about 4,102 miles.

[Aave @aave]

Aave V4 is now live on @ethereum.

[Coinbase 🛡️ @coinbase]

Get your house and keep your crypto.

Crypto-backed mortgages are here - increasing access to homeownership for millions of Americans.

Buy a home without converting your portfolio by using BTC or USDC as collateral for your down payment.

Offered by Better, powered by Coinbase.

[The Block @TheBlockCo]

BREAKING: FANNIE MAE TO ACCEPT CRYPTO-BACKED MORTGAGES FOR THE FIRST TIME — WSJ

[Bankless @Bankless]

Justin drake makes the bullish case Ethereum in a post-quantum world:

He doesn't see it as “a hurdle that we have to overcome,” but “more as an opportunity.”

If Ethereum gets this right, it could become “the very first global financial system that is post-quantum secure”

A huge differentiator not only versus Bitcoin and crypto rivals, but also versus “Fiat and TradFi.”

@drakefjustin argues the transition is a chance to “start with a clean slate and wipe out technical debt,” using the rewrite to turn Ethereum into “the best version of itself.” 🎬