Do Kwon, Zhu Su, Kyle Davies, and Sam Bankman-Fried have committed fraud for tens of billions of dollars.
Not a single one of them is in jail.
Alex Pertsev is rotting in a Dutch jail cell without even being charged.
Lido may be the biggest attack on Ethereum's decentralization ("credible neutrality") in our entire history
It's about to breach 33%
Yet many are staying silent
Why?
S(c)am Bankman-Fried is hanging out with his parents in Palo Alto
Alex Pertsev is in jail.
One engaged in pervasive money laundering.
The other wrote open source code for privacy.
BREAKING: MAJORITY OF
#Bitcoin
BLOCK PRODUCTION CURRENTLY CONTROLLED BY TWO ENTITIES
Out of the last 1000 $BTC blocks, 501 have been built by Antpool and FoundryUSA
Two pools control more than 50% of block production!
In 2018,
@vitalikbuterin
proposed a hard cap of 120,204,432 for ETH supply
It was rejected by the Ethereum community
At current burn rates we will be under Vitalik's supply cap in 2 weeks
The best way to understand Bitcoin is to realize that all the builders left for Ethereum years ago.
The only people left are the non-technical people who believe in the 21m supply cap fairy tale.
Since Ethereum turned off proof of waste (PoW) 100 days ago
$ETH issuance: $3,791,882
$BTC issuance: $1,515,262,500
Bitcoin "inflation" is 400 times higher than Ethereum "inflation"
The Merge occurred one month ago when Ethereum turned off and obsoleted PoW forever.
Since then:
Bitcoin issued 27355 $BTC ($523m)
Ethereum issued 6798 $ETH ($9m)
π¦π
Since Ethereum turned off proof of waste (PoW) 112 days ago
$ETH issuance: $5,280,936
$BTC issuance: $1,709,401,200
Bitcoin "inflation" is 324 times higher than Ethereum "inflation"
Since Ethereum turned off proof of waste (PoW) about 3 months ago
$ETH issuance: $2,967,831
$BTC issuance: $1,437,820,664
Bitcoin "inflation" is 484 times higher than Ethereum "inflation"
In 2018,
@vitalikbuterin
proposed a hard cap of 120,204,432 for ETH supply
It was rejected by the Ethereum community
At current burn rates we will be under Vitalik's supply cap in 2 weeks
Withdrawals testnet launched today. It's successfully running and finalizing
πππ
It appears one client had some issues, but otherwise, looking very good
He actually tweeted this
Cardano has never consistently had more than 1 transaction per second.
$ADA is a stain on this industry that never seems to wash out
It now costs $39093 to buy the 32 $ETH necessary to become an Ethereum staker and be part of the validator set that secures the world's settlement layer.
#StakeFromHome
Ethereum has not had a single "inflationary" block in half a month
Every 12 seconds, the total supply of ETH ticks down
Meanwhile the Bitcoin printer continues to inflate away BTC holders
At 20 billion dollars, the $ADA zombiechain π§βοΈ is a top 5 blockchain by market cap.
This is a graph of DeFi by chain
Do you see Cardano? It's a brown slice
In the last 365 days
Bitcoin has inflated away its holders by 328k $Btc ($14.5b at today's value)
Ethereum has accrued value to its holders by 338k $ETH ($755m at today's value)
It now costs $37373 to buy the 32 $ETH necessary to become an Ethereum staker and be part of the validator set that secures the world's settlement layer.
Annualizing using last 90 days:
The Ethereum protocol makes $71m a year, and that value accrues to $ETH holders
The Bitcoin protocol loses $5872m a year (that is, almost $6b) and $BTC holders inflate themselves away to pay for this
Which of these sounds like a store of value?
BTC maxis think it's a great dunk that ETH stakers won't be able to withdraw for 6 months
But Bitcoin miners can't withdraw the money they stake in ASICs
BREAKING: MAJORITY OF
#Bitcoin
BLOCK PRODUCTION CURRENTLY CONTROLLED BY TWO ENTITIES
Out of the last 1000 $BTC blocks, 501 have been built by Antpool and FoundryUSA
Two pools control more than 50% of block production!
It now costs $35553 to buy the 32 $ETH necessary to become an Ethereum staker and be part of the validator set that secures the world's settlement layer.
Since Ethereum turned off proof of waste (PoW) 119 days ago
$ETH net issuance: $2,578,589
$BTC net issuance: $2,039,092,200
Bitcoin "inflation" is 791 times higher than Ethereum "inflation"
BREAKING: MAJORITY OF
#Bitcoin
BLOCK PRODUCTION CURRENTLY CONTROLLED BY TWO ENTITIES
Out of the last 1000 $BTC blocks, 501 have been built by Antpool and FoundryUSA
Two pools control more than 50% of block production!
"Betting against the Ethereum ecosystem's ability to produce technology is something that clearly does not have a very good track record." -
@VitalikButerin
Let's check in on the $ADA zombiechain π§βοΈ
Not only does Cardano do less than one transaction per second...
Uniswap does substantially more transactions than Cardano
Remember how
@CoinDesk
wrote a hysterical article about supposed centralization when Ethereum had 420 of the last 1000 blocks built by 2 pools?
I await the Coindesk article about a MAJORITY of Bitcoin block production being controlled by 2 corporations!
If you had followed Gary Gensler's financial advice from a year ago and put $10,000 in a bank account, you'd have gained ~$10 in interest, paid ~$2 in taxes on that interest.
And lost $850 in purchasing power to inflation.
Happy Halloween!
At this very moment Sqlana has been down for over 100 minutes.
they still claim 100% uptime
Sqlana downtime printer go brrrrrrrrrrrrrrrrrrrrrrrrrr π¨οΈπ¨οΈπ¨οΈ
652 blocks built by Antpool, Foundry, f2pool
761 blocks built by top3 + viaBTC
855 by built top4 + Binance
86% of block production controlled by just 5 entities!
Proof of Waste increasingly centralized
So all the Eth people move to Eth-centric Twitter clones and live in a bubble
Everyone else sticks around on the world's public square and FUDs ETH
ETH underperforms
...surprise?
Since Ethereum turned off proof of waste (PoW) 117 days ago
$ETH net issuance: $3,621,810
$BTC net issuance: $1,851,832,764
Bitcoin "inflation" is 511 times higher than Ethereum "inflation"
Some memecoin maxi delisted eth on some exchange that I'd never heard of until now
But he still has to hold, use and burn $ETH because it is a "must for real usecases."
Bullish.
Over the last 12 months, the media has published hit piece after hit piece about
@brian_armstrong
and
@jespow
Meanwhile it was all unctuous adulation and hagiography for
@SBF_FTX
SBF successfully transferred tens of millions of stolen dollars to his family
Probably most people in the world would do 25 years in jail to give their entire family generational wealth
BREAKING: MAJORITY OF
#Bitcoin
BLOCK PRODUCTION CURRENTLY CONTROLLED BY TWO ENTITIES
Out of the last 1000 $BTC blocks, 501 have been built by Antpool and FoundryUSA
Two pools control more than 50% of block production!
Last night I was thinking about how every idea in "crypto" is a derivative of something on Ethereum (or its predecessor, bitcoin)
Has there ever been a unique app idea on a different chain?
I can't think of any.
Memecoiners actually believe that I am the Chief Decentralization Officer of Ethereum.
This isn't even the first in the ~12 hours since I changed my bio.
It seems undercommented that Christian has stepped down as lead of
@solidity_lang
Love or hate Solidity (and I hear both!), the whole ecosystem is in his debt that under his leadership solc has never been exploited.
π
Lido is on the verge of being able to hold Ethereum finality hostage with one governance vote
A common refrain I hear is "bUt VitAlIk iSnT tWeEtInG aBoUt iT"
A year and a half ago:
Lido keeps
@dannyryan
up at night
If we let Lido breach 33% of ETH stake, then he says the Ethereum immune system is BROKEN
It's time to defend our ETH
Since the all-time high of Ether supply on October 7, 2022:
$Btc total supply has inflated by 190,081 bitcoin
$ETH total supply has declined by 190,100 ether
π¬
Geth dominance is becoming less of a problem thanks to Nethermind, Besu and Erigon (and soon Reth!)
It's time to tackle Lido dominance.
It's not enough that Ethereum is the most decentralized chain. We must be maximally decentralized.
Lido keeps
@dannyryan
up at night
If we let Lido breach 33% of ETH stake, then he says the Ethereum immune system is BROKEN
It's time to defend our ETH
When Ethereum enables staking withdrawals in 3-4 months, it's going to be incredibly bullish for the price of $ETH
But if it leads to an increase in staking centralization, then we've failed.
#StakeFromHome
In this crazy unpredictable world of bank runs and depegs, it's good to know that a few things are certain
* Death
* Taxes
* Cardano under 1 transaction per second