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Mr. V | mariokondo.ethMoloch - The root of all problems?
1/ I listened to @Liv_Boeree on the @lexfridman podcast talking about #Moloch. It inspired me to write a Thread about this phenomenon & why this ancient demon god is responsible for so many problems we face today. 🧵 I hope you enjoy the thread and my thoughts about #MolochMoloch in Metropolis 1927Who is Moloch?2/ #Moloch originates from the Canaanite religion and was a demon god who gave power to tribes to win wars but in return, they had to sacrifice their children to Moloch. The essence is...
Mr. V | mariokondo.ethThe Crypto Revolution - Josh Rosenthal on the Bankless HQ Podcast
Joshua Rosenthal PhD in History is a crypto-native historian and talked about the parallels between the Renaissance, American Revolution, and #Crypto and how we can learn from history. If you missed it, this article is for you:Let’s travel to medieval timesImagine yourself as a medieval peasant. After centuries of static, permission society ruled by kings, two decentralized technologies converged: Ledger-based financial primitives (double-entry bookkeeping) and new permissionless communicatio...
Mr. V | mariokondo.ethBrave New World vs. 1984
How will the future look? "1984" or "Brave New World"? 🧵 A thread comparing the two books and my take on which course we're currently taking.Before we talk about our current path, let's understand the content of both books. Let's start with Orwell: Orwellian surveillance state in 1984: A society governed by a big brother ➡️ Propaganda & Censorship as key tools https://twitter.com/SizweLo/status/1425455068556451842 #Huxley, on the other hand, envisions a hedonistic "pleasure so...
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Mr. V | mariokondo.ethMoloch - The root of all problems?
1/ I listened to @Liv_Boeree on the @lexfridman podcast talking about #Moloch. It inspired me to write a Thread about this phenomenon & why this ancient demon god is responsible for so many problems we face today. 🧵 I hope you enjoy the thread and my thoughts about #MolochMoloch in Metropolis 1927Who is Moloch?2/ #Moloch originates from the Canaanite religion and was a demon god who gave power to tribes to win wars but in return, they had to sacrifice their children to Moloch. The essence is...
Mr. V | mariokondo.ethThe Crypto Revolution - Josh Rosenthal on the Bankless HQ Podcast
Joshua Rosenthal PhD in History is a crypto-native historian and talked about the parallels between the Renaissance, American Revolution, and #Crypto and how we can learn from history. If you missed it, this article is for you:Let’s travel to medieval timesImagine yourself as a medieval peasant. After centuries of static, permission society ruled by kings, two decentralized technologies converged: Ledger-based financial primitives (double-entry bookkeeping) and new permissionless communicatio...
Mr. V | mariokondo.ethBrave New World vs. 1984
How will the future look? "1984" or "Brave New World"? 🧵 A thread comparing the two books and my take on which course we're currently taking.Before we talk about our current path, let's understand the content of both books. Let's start with Orwell: Orwellian surveillance state in 1984: A society governed by a big brother ➡️ Propaganda & Censorship as key tools https://twitter.com/SizweLo/status/1425455068556451842 #Huxley, on the other hand, envisions a hedonistic "pleasure so...
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1/n The #Ethereum #Merge is coming around Sept 14th. It isn't easy to predict the exact date bc/ it is defined on terminal total difficulty but it will happen around this date.
🧵But what is the merge and why is it so important? The following thread should help to explain it
2/ What is the #Merge? It is a long-awaited change from #ProofOfWork to #ProofOfStake or to be more precise the merging of the #PoW Execution Layer with the #PoS Execution Layer.
This will bring the #Ethereum Chain into a new era by removing miners and using validators instead
3/ Imagine a castle wall: #PoW is a wall made of electricity & if someone wants to break through, they need at least 51% of the total energy in place. #PoS is a wall made of money & if someone wants to break it, they need at least half the money piled up (50% atm: 6.7 Mio #ETH)
4/ There are 3 major effects resulting from the Merge:
Reduced Sell Pressure (from miners)
Environmentally Friendly (less energy consumption)
Eventually Deflationary: Less issuance of #ETH can lead to #UltrasoundMoney
https://twitter.com/BanklessHQ/status/1560963630539096065
5/ If you want to keep track of the number around the #Merge, there are plenty of awesome @DuneAnalytics dashboards that will keep you up to date. One of our favorites is this one from @hildobby_:
https://dune.com/hildobby/ETH2-Deposits
6/ #ETH will become ultrasound if the fee burn rate (thx to #EIP1559) is greater than the #PoS issuance. This only works if the network demand & therefore gas prices are around 30GWEI. @ultrasoundmoney has one of the best websites about this, check it out:
7/ Once the #merge is completed there is no need for expensive hardware & lots of energy to protect the #ETH Chain. With 32ETH you can become a validator or with less you can participate in liquid staking w/ @LidoFinance, @Rocket_Pool, etc. → You get rewarded with Network fees
8/ No, gas prices won't go down right after the #merge. We have #Layer2 for this. #Ethereum will remain the most secure place for your transactions. For everyday usage, the various L2 will be the place to be
https://twitter.com/brenstweetss/status/1527339334306713618
9/ It also won't be possible to withdraw your staked #ETH right after the #merge. You have to wait until the #shanghaiupgrade in 2023. @apolynya calls this a derisking event because investors will gain confidence after a successful unlocking period.
https://twitter.com/apolynya/status/1563715638148837376
10/ The journey of #Ethereum is also not over after the #merge and there are plenty of steps to be taken:
The #Surge (Scalability), The #Verge (Statelessness), The #Purge (protocol simplification), The #Splurge ("fun stuff")
We see each other on the other side of the merge
1/n The #Ethereum #Merge is coming around Sept 14th. It isn't easy to predict the exact date bc/ it is defined on terminal total difficulty but it will happen around this date.
🧵But what is the merge and why is it so important? The following thread should help to explain it
2/ What is the #Merge? It is a long-awaited change from #ProofOfWork to #ProofOfStake or to be more precise the merging of the #PoW Execution Layer with the #PoS Execution Layer.
This will bring the #Ethereum Chain into a new era by removing miners and using validators instead
3/ Imagine a castle wall: #PoW is a wall made of electricity & if someone wants to break through, they need at least 51% of the total energy in place. #PoS is a wall made of money & if someone wants to break it, they need at least half the money piled up (50% atm: 6.7 Mio #ETH)
4/ There are 3 major effects resulting from the Merge:
Reduced Sell Pressure (from miners)
Environmentally Friendly (less energy consumption)
Eventually Deflationary: Less issuance of #ETH can lead to #UltrasoundMoney
https://twitter.com/BanklessHQ/status/1560963630539096065
5/ If you want to keep track of the number around the #Merge, there are plenty of awesome @DuneAnalytics dashboards that will keep you up to date. One of our favorites is this one from @hildobby_:
https://dune.com/hildobby/ETH2-Deposits
6/ #ETH will become ultrasound if the fee burn rate (thx to #EIP1559) is greater than the #PoS issuance. This only works if the network demand & therefore gas prices are around 30GWEI. @ultrasoundmoney has one of the best websites about this, check it out:
7/ Once the #merge is completed there is no need for expensive hardware & lots of energy to protect the #ETH Chain. With 32ETH you can become a validator or with less you can participate in liquid staking w/ @LidoFinance, @Rocket_Pool, etc. → You get rewarded with Network fees
8/ No, gas prices won't go down right after the #merge. We have #Layer2 for this. #Ethereum will remain the most secure place for your transactions. For everyday usage, the various L2 will be the place to be
https://twitter.com/brenstweetss/status/1527339334306713618
9/ It also won't be possible to withdraw your staked #ETH right after the #merge. You have to wait until the #shanghaiupgrade in 2023. @apolynya calls this a derisking event because investors will gain confidence after a successful unlocking period.
https://twitter.com/apolynya/status/1563715638148837376
10/ The journey of #Ethereum is also not over after the #merge and there are plenty of steps to be taken:
The #Surge (Scalability), The #Verge (Statelessness), The #Purge (protocol simplification), The #Splurge ("fun stuff")
We see each other on the other side of the merge
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