Scientist by day, other things at night.
Writing complex and nuanced takes, viewed by few, appreciated by none.
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Nuanced take: No one wants to be the SoV. SoV is boring. Long term, at best, it either keeps up in real value terms or grows as much as the overall economy. Everyone want to be the next SoV, to get that multi-trillion dollar potential future market cap.
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@metamask you are really dropping the ball...
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Ethereum rollups allows anyone, even evil mega-corporations, to make credible promises to their customers. Anyone makes whichever promise they like, Ethereum does the enforcement. This is the most under-discussed feature of rollups.
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Hard to handle truths:
1. Ethereum doesn't have any fundamental problems. The main problem (decentralized blockchain) has been solved. All we do now is move forward with the implementation and add minor UX improvements.
2. People are upset because price is low. That's it.
3. Price is low because (a) printer doesn't brrr right now (b) bitcoin /w Saylor help is doing great, making ETH look bad (c) SOL is doing well as a casino with a low(er) MC.
4. Ethereum can run just fine with ETH at 1000$, and even 100$.
5. The choice of SoV among all suitable assets is a social choice.
I still think ETH will go up. And maybe people will talk about the pivot as the reason. Correlation does not imply causation.
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hey @metamask, you do requests? Can I get cross-chain sends? Which bridge you ask, let me set one in the settings (and you can even push your solution as the default). You can also go ahead and integrate send+swap - i.e. any token on any (supported) chain to any token on any other chain. Just let me have control over the which backend.
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I call ETH season.
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1. You can do this with a wrapped ETH token, or even better, wrapped staked-ETH token, today, no EIP required. rETH for example can migrate to a contract that supports this.
2. Adding this to ETH will mean a huge amount of trust in the code and math. Bugs may mean someone can mint free ETH, and we will have no way of knowing it. Unlike regular exploits, we may not know we've been hacked. Something similar happened with zcash (probably only by the good guys).
I'm not saying this is a bad idea, I am saying I would like to see it implemented on a token first, and probably formal verification in addition to bug-bounty and multiple audits.
