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sniping market inefficiencies

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when all is said and done, Ethereum will have operated just far enough from the mainstream

to allow one of the most asymmetrical trades of our generation to quietly form

⏳

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Study

[Joseph Lubin @ethereumJoseph]

@jdorman81, you are working with a snapshot of the current state and ignoring what I believe is the inevitable trajectory.

The FIs and FMIs are here and more are coming. @Consensys is working with some of them.

As more of the economy moves onchain -- on Ethereum tech -- there will be more demand for, and contention for certain kinds of block space on layer 1 and on some (many, eventually) L2s.

Demand for ETH will outstrip supply as more users need to land their transactions in high value block space, while more users lock their ETH in protocol staking, and other kinds of applications. DATs will keep vacuuming up ETH. Companies that use Ethereum ecosystem apps will need to hold and use ETH. And when activity in the Ethereum ecosystem grows, more and more ETH will be burned in a positive feedback loop.

All of these mechanics (and more) can be thought of as the monetary premium of ETH. In perhaps 2 years no platform will have anywhere close to the monetary premium of ETH. ETH is the base collateral currency of the next generation AI-powered economy that will run on the decentralized protocol rails of Ethereum Trustware.

[Joseph Lubin @ethereumJoseph]

We haven't seen real mainstream usage yet.

We've seen people buying ETH and BTC to hold it speculatively. We've seen protocol and cryptography nerds build and evolve the protocol and continuously kick the tires on it. We've seen finance nerds build and kick the tires on DeFi. We've seen art nerds and collectors build and kick the tires in the NFT space.

We spent over a decade growing usability, modular scalability, and affordability of block space and transactions. And we've recently seen regulatory uncertainty dissipate significantly with deeply thoughtful rulemaking from Chair Atkins and Chair Selig at the SEC and CFTC.

But there hasn't yet been compelling applications for the mainstream. This is changing. One perfect example is the evolution of MetaMask from a transaction signing tool to a wallet to a financial super app in which you are in full custody of your assets and in full control of your financial life. That is going to be a game changer for people as the world grows more complex and less trustworthy.

The TradFi industry is rapidly onboarding itself onto our rails. And when global decentralized finance is bigger, more fluid, significantly credibly neutral, self custody-based, and very inexpensive to use, we will see a wide variety of organizations, applications and retail users onboarded to our technology.

In an era in which frontier machine intelligence can empower good actors and bad to rewrite all the rules of the global economy, a global, rigorously decentralized, shared source of truth that can serve as (1) a global digital asset settlement layer and (2) trustware that ensures proper guaranteed execution of transactions, agreements and processes, becomes essential.

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@DhananiZain doesn't rice run the same routes? Why would they trade for another slot guy....

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@SonuSahu87 is FDV still a meme lol

[MilliΞ @llamaonthebrink]

I feel like ppl are misunderstanding this post as Vitalik pivoting to the ETH as an SoV thesis.

I’m quite certain that he always viewed ETH as an SoV.

Why else would he keep >90% of his net worth in ETH?

[Haseeb Qureshi ＞|＜ @hosseeb]

ETH is playing the biggest game, which is the SoV game.

Read this.

[vitalik.eth @VitalikButerin]

Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".

Three primary reasons:

1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)

EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.

The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.

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@CoinbaseDuck @coinbase cheap but @brian_armstrong is running the other way

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@brian_armstrong How are you not buying $COIN at these prices instead of filing for a future option to sell your entire 24% of shares?

As a long time shareholder, I would much rather see you doubling down here if you have true conviction in your own company. Disappointing.

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@brian_armstrong How are you not buying $COIN at these prices instead of filing for a future option to sell your entire 24% of shares?

As a long time shareholder, I would much rather see you doubling down here if you have true conviction in your own company. Disappointing.

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$ETH will be a post-quantum store of value btw

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

ethereum:native will be a post-quantum store of value btw

[DonAlt @DonAlt]

Last time the market didn't properly sell off after a huge event like this was the FTX collapse

When I saw the lack of follow through then I got giga bullish
And we subsequently went from 16k to 100k

Hard to be bearish here after having been given the same setup yet again

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That’ll do

Buying

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crypto has been trading quite heavy the last few weeks

when it’s bullish we normally don’t test support 9 times &amp; then just sit right above it with low volume

in all reality crypto has been red hot the last 4 months

prices need to adjust, intuitively lower

then we run it back

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crypto has been trading quite heavy the last few weeks

when it’s bullish we normally don’t test support 9 times &amp; then just sit right above it with low volume

in all reality crypto has been red hot the last 4 months

prices need to adjust, intuitively lower

then we run it back

[Ethereum Maxis @Ethereum_Maxis]

Seriously how long are these fucking market makers gonna continue to “re-test” the lows here, it’s getting silly at this point.

ETH doesn’t want to go below $2,300
BTC doesn’t want to go below $80,000

For fuck sake, time to move on already after the 99th retest.

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@TrustlessState when do we not dump on Friday lol

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@SleeperNFL @MatthewBerryTMR @DhananiZain

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what if I told you that green candle hasn't even happened yet

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$ETH is one green candle away from many questioning their life choices

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@DhananiZain Mayer or Ferg this week?

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@safetyth1rd I still go back and watch old episodes all the time. So much nostalgia for me. Funny you singled out the first dozen seasons, did you notice a change after that?

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@DCinvestor @evercaderetro Keep us posted on which ones end up being your favorites