𒂭_𒂭 on Farcaster

Catch0x22 pfp

defi eco getting up in arms about researchers or vitalik not pumping their bags is why Ethereum will remain on top could easily argue that because of ETH economic security, it's able to have cash positive business on top programmable gold the issue is whether or not you trust large stakers or more specifically colluding stakers it is also a very real possibility as well that other chains attract enough talent from Ethereum that it stagnates probably more dependent on where the future leads RE economic security worldwide. if VCs can't ZIRP up new chains every 6 months, then the mindshare goes back to BTC/ETH

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𒂭_𒂭 pfp

ultimately, ETH is chicken-and-egg for network security. if L1 isn't the critically secure basis of future applications (even if they just juggle between rollups), it's really hard to see "WW3-resistant state" as a monetary hedge. imho, RE & gigs are the two forks of "cash-positive" business. one has equity, and the other should as well. 11x valuation on a based L+ w/ gigagas seems like nothingburger. if we demonstrate a closed-loop surplus on property with equity, then compound that by network security into perpetuity, then I think the intergenerational SoV can be tokenized, which Bitcoin can't do to the same extent. atm, it's encumbered in a way that a VCchain's culture can capitalize on more futureproofing at the application layer. it seems pretty clear that ETH-native VCs have overindexed on spendthrift picks & shovels, so I'm kind of waiting for a BNB/Tron-shaped shoe to drop where there's significantly less red tape, lifestyle creep, & unsaturated market.

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Catch0x22 pfp

a lot of that is over my head normies just need to recognise blockchain systems as an alternative outlet for governance. genuinely think it'll be DAOs which di this, it just won't be anything we expect. it'll be like a meme response DAO to something already in the public eye i think most of what drives crypto is ego. people want a satoshi or a vitalik or mert to follow. unless it's blackrock that pushes out their own chain but I think they love the chaos and would rather build a state on ETH and every chain

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all DAOs should have some active treasury management on L1 (the "autonomous" part), otherwise they're just an onchain corporation moving at the speed of...government. I could see blackrock, van eck, citadel pushing an appchain, after all, they're in the business of orderflow (maybe evgeny helps, idk). then again, Uniswap is swooping in w/ hooks on v4, so permissioned DEX might work for all parties. but how cooked would we be if ETH reduced to L1 pumpdotfun for boomers, with everything else rentseeking on a wealth effect? that's unsettling to me. internet culture has roots in FAFO culture beforehand (e.g. hands across america, silicon valley, etc). /farcasterfridays is a good start, but eventually they'll be makerspaces. needs some sort of ego ⇋ curiosity step function.

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Catch0x22 pfp

i imagine one-click DAOs will have a pump fun effect on social issues. it's just a matter of time i don't think this will be pretty fwiw DAOs won't replace government, that's silly lol more like multiple DAOs communicating with AI but let's say a group of kids start up an independent journalism company in their city that really needs it, and they use a DAO to get funded but worry about legal later out of necessity legal stuff doesn't mean a whole lot imo if it's a real social issue. something like buying a constitution is fun but it's stupid probs right wintermute would work on appchains for tardfi, someone will I think that's much further down the line. Imo the etfs don't signal they want to be part of the industry, just invest in it and take fees. also helped their image somewhat *if* crypto works out in the long run

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