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.ethVitalik Buterin on Bankless - Ethereum in 2023
After a difficult year in the crypto space (bear market, Terra/Luna, FTX, 3AC) @RyanSAdams & @TrustlessState from @BanklessHQ want to know from @VitalikButerin how he envisions the upcoming 2023 for #Ethereum. 🧵 I summarized this awesome episode for you guys. Let's dive inEsperanto, Linux & CryptoVitalik wrote a blog post in 2011: Bitcoin, Esperanto, Linux or the Internet. He described a few possibilities for how Bitcoin (or in general the Crypto Space) will move forward. Will it be mas...
Mr. V | mariokondo.ethThe Network State - A worthy successor of the nation-state?
1/ Is there a successor to nation-states? @balajis proposes the idea of a #networkstate powered by #crypto #web3 technologies. We shouldn't assume that nation-states are eternal 🧵This Twitter thread summarizes the @BanklessHQ podcast & should help to understand this novel ideaThe Network Archipelago2/ Nation-States are only a few hundred years old after they replaced some form of monarchy in most areas. Do we need an alternative? @balajis argues that the post-world-war-era is ending & p...
A digital Mario Kondō: Digital marketeer from Switzerland who is good in complexity reduction and likes to clean up work processes.
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.ethVitalik Buterin on Bankless - Ethereum in 2023
After a difficult year in the crypto space (bear market, Terra/Luna, FTX, 3AC) @RyanSAdams & @TrustlessState from @BanklessHQ want to know from @VitalikButerin how he envisions the upcoming 2023 for #Ethereum. 🧵 I summarized this awesome episode for you guys. Let's dive inEsperanto, Linux & CryptoVitalik wrote a blog post in 2011: Bitcoin, Esperanto, Linux or the Internet. He described a few possibilities for how Bitcoin (or in general the Crypto Space) will move forward. Will it be mas...
Mr. V | mariokondo.ethThe Network State - A worthy successor of the nation-state?
1/ Is there a successor to nation-states? @balajis proposes the idea of a #networkstate powered by #crypto #web3 technologies. We shouldn't assume that nation-states are eternal 🧵This Twitter thread summarizes the @BanklessHQ podcast & should help to understand this novel ideaThe Network Archipelago2/ Nation-States are only a few hundred years old after they replaced some form of monarchy in most areas. Do we need an alternative? @balajis argues that the post-world-war-era is ending & p...
A digital Mario Kondō: Digital marketeer from Switzerland who is good in complexity reduction and likes to clean up work processes.
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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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