the alt trying to pass their main @defimooner
Joined January 2022
- Tweets421
- Following226
- Followers1K
- Likes1.1K
lowkey does anyone else go to church to understand how cults were sold to generations
or am i just beyond saving
gm (in forever). time to find out how much shadow banning 600 days of inactivity gets me
if you see this, pls reply with emoticon ^-^
oz retweeted
THE TECHNO-OPTIMIST MANIFESTO part 1
“You live in a deranged age — more deranged than usual, because despite great scientific and technological advances, man has not the faintest idea of who he is or what he is doing.”
— Walker Percy
“Our species is 300,000 years old. For the first 290,000 years, we were foragers, subsisting in a way that’s still observable among the Bushmen of the Kalahari and the Sentinelese of the Andaman Islands. Even after Homo Sapiens embraced agriculture, progress was painfully slow. A person born in Sumer in 4,000BC would find the resources, work, and technology available in England at the time of the Norman Conquest or in the Aztec Empire at the time of Columbus quite familiar. Then, beginning in the 18th Century, many people’s standard of living skyrocketed. What brought about this dramatic improvement, and why?”
— Marian Tupy
“There’s a way to do it better. Find it.”
— Thomas Edison
Lies
We are being lied to.
We are told that technology takes our jobs, reduces our wages, increases inequality, threatens our health, ruins the environment, degrades our society, corrupts our children, impairs our humanity, threatens our future, and is ever on the verge of ruining everything.
We are told to be angry, bitter, and resentful about technology.
We are told to be pessimistic.
The myth of Prometheus – in various updated forms like Frankenstein, Oppenheimer, and Terminator – haunts our nightmares.
We are told to denounce our birthright – our intelligence, our control over nature, our ability to build a better world.
We are told to be miserable about the future.
oz retweeted
⚠️⚠️ Do NOT interact with $RPL twitter account
oz retweeted
I think we'll look back at this time of crypto as one where some lost the plot and those that prioritized delivering the best product & user experience came out ahead because demand drives everything, including attracting validators to bootstrap network security and creating sustainable security budgets.
Find me a network with a ton of demand that hasn't figured out a viable way to monetize...
Many missed this point when social media networks were getting started. The most important thing was the product and Facebook prioritized that above all. Ultimately becoming king in the space...
Great products are ones users are willing to pay for. I used to think that users paying high fees was a strong signal that the product was there - that demand for crypto was strong and, eventually with lower fees, there would be even more demand. But it is unrealistic to assume crypto grows without becoming more accesible to users.
In a similar way, the Internet too was once slow and expensive. Users were willing to pay because the Internet hit a powerful nerve and unlocked potent demand to socialize, communicate and transact. That justified capex spend to roll out cellular towers and lower the cost unlocking yet another demand curve.
Blockchains have been stuck in that initial slow and expensive phase but their evolution will be no different than the internet. The difference now is that there are growing set of alternative networks where users can transact with very low fees and the products are equally or more delightful to use. That's Solana and other next-gen L1s (Aptos, Sui, Sei etc).
I'll keep saying it: utility, not scarcity, drives value. Without organic demand you can't have sustainable network economics and, therefore, a long term viable security model.
A ghost chain is one that has no organic demand for blockspace and lack of products. True demand for blockspace will be stimulated by mainstream use cases not a few beta testers with a lot at stake willing to subsidize high costs (sounds a lot like universities and governments subsidizing computers and internet costs in the early days).
There's one important transition happening in crypto this cycle. Crypto is entering a phase where there will be growing divide between the have and have-nots in terms of usage at scale.
Last, I don't think Ethereum is dead. Far from it. It has the largest mindshare of developers. No chain is perfect today. To assume any is misses the point of how big the challenge and opportunity is to build decentralized trustless networks at scale.
However, I have been impressed by the growth and agility of Solana. That network is not perfect either. Ultimately, it is a very exciting time in crypto especially for users who are finding a growing number of exciting and innovative products on-chain.
We must constantly think bigger and think mainstream. Those that do will be rewarded and those that resist will fade, perhaps slowly, but eventually into oblivion eclipsed by those networks that prioritize the user experience. That picture will become clearer this cycle...
oz retweeted
Serious post, most apps have pushed updates for the ledger exploit but your browser could still be loading old versions for efficiency reasons
Best way to force an update is by clearing your cache, instructions here: support.google.com/accounts/…
oz retweeted
By the way, props to @Rabby_io as the wallet did actually display a simulated transaction with the draining occurring (failed to take a screenshot), which should make you think something is wrong even if you weren't aware of the attack.
Even if Rabby also uses a lot of packages and is potentially vulnerable to the same type of supply chain attack, at least the wallet simulates the transaction before making you sign it.
There is really NO REASON to use metamask in crypto in 2023.
oz retweeted
Modularity isn't the best for ETH in the short term, necessary for ETH in the long term.
With rising complexities and modifications in blockchain architecture, I'd argue Ethereum's main priority is attracting new use cases and developers. It has established itself as the best (for now) settlement layer in terms of liquidity, decentralization, and adoption. Now the question remains: how do we get the average retail user on Ethereum?
Most people point to pyUSD as a first step but if you take a look at it, it's a pretty small first step. Fees are still generally high which makes it pretty difficult for it to be used compared to traditional money transmission services.
Specifically we have identified two main bottlenecks for Ethereum: data availability and poor execution. The DA debacle has been explored extensively and names like Celestia, EigenDA, and Avail have risen to provide superior DA solutions with the intention of allowing users to leverage Ethereum for settlement without the pains of egregious DA costs (think Blobstream).
The last remaining piece of the puzzle is solving Ethereum's execution bottlenecks hence the rise of SVM and MoveVM in the modularity discussion. Secure and high-throughput localized fee market to enable a superior user experience where noisy environments don't lead to insane gas fee spikes. During times of high usage (like Pyth Airdrop), next-generation VMs have proven to be the solution for managing network stress especially if we are ever to onboard the millions of users we all expect. Furthermore, next-gen VMs are now coming with EVM compatibility to reduce EVM's stickiness and the typical technical overhead for next-gen migration
The narrative is clear: cheaper DA and superior execution environments are finally here and living on Ethereum. The question is now: is this good for Ethereum?
In the long run, yes.
To illustrate this example, I'd like to turn to Amazon. Before the Prime days, Amazon was a giant but was looking to establish its hegemony in multiple sectors (and now its in pretty much every industry wit Prime). Initially, Amazon's Prime service offered free shipping and other benefits for a flat annual fee, was a loss leader for the company. However, by courting in users and builders from new verticals with an adjusted business model (at the time not profitable), Amazon locked in customer loyalty and increased the frequency of purchases, even though the cost of providing these services outweighed the revenue from the membership fees. As time went on, Amazon leveraged Prime as their settlement layer to attract customers from every industry from medicine to movies. Today, everyone and their mom has Amazon Prime.
Modularity is Ethereum's Amazon Prime. In the short term, sure, less ETH is being burnt and EVM mindshare is diminishing (most Ethereum folks hate the EVM anyway and are ready for a replacement). I would contend this is necessary for Ethereum to stay competitive within the next 2-3 years. Networks like Solana are simply superior technologies that will only continue to see further adoption just like there are better websites that offer best user experience and options than Amazon. To establish its hegemony, Ethereum can establish itself as a global liquidity layer where L1s, L2s heck even L10s can trust on Ethereum for security and adoption. In the meantime, it will slowly work on modifications (proto-danksharding, re-entrancy protection, etc).
In the next 1-2 years, modularity enables Ethereum to unlock new use cases such as fully on-chain gaming, next-gen fee market management, dynamic NFTs, and atomic composability - features simply not possible with its traditional stage.
The end game is next-generation. Next-gen chains like Solana, Aptos, and Sui provide a great integrated user experience while next-generation VMs scale Ethereum's settlement layer to unlock new markets and bring in new users. So yes, while on paper modularity may not be "ETH aligned", in practice it is necessary for ETH to not be prehistoric.
oz retweeted
Congratulations to the class of 2020-2023. Now you’ll be able to tell the class of 2024-2027 that you managed to survive the collapse of a major exchange, multiple lending desks and hedge funds, major “stablecoin” protocol, countless apps and lived to see another day. Forged in the fire 🔥