Ethereum
$2,927.91 -5.42%
ETH · 4w

Ethereum has ☝🏼 genuine competitor:

In the smart contract crypto-asset space, Ethereum doesn't have any competitors. The "*ETH killers*" as they're called, will eventually end up zombie protocols with sub-dollar token prices. The reason for this is simple: Within 12 months, the EVM will have both commercial sharding and ZK-Rollup infrastructure. It's L1 and L2 (Batman and Robin) will provide faster transactions, cheaper transactions, and better security than any of the ETH killers in Gotham. Then these villains will have to compete with each other. And if that wasn't bad enough, they'll have to compete with a protocol (EVM) that has the network effect, the users, the trust, the 5-star Dapps, the 400k global Solidity programming army, the rockstar founder, the ETF's, and most importantly, the better tokenomics, as its native token Ether is deflationary. That's not to say I don't trade the Solanas, Cardanos, Algorands, Polkadots, Avalanches, Binance Smart Chains, ICPs, etcetera. I do whenever my data lights up. But none of these projects have viability, and none of them are investment grade. Which makes them no better than shitcoins, even if their developers have good intentions and they've produced a working product. There is one villain in Gotham that won't die though, and he's been locked away in Arkham Asylum plotting his next move: 🤡 Before we talk about the Joker as the only real competition to the EVM, I'd like to digress: Price action will cause people to believe anything. You see, it's very easy to produce a system of ledgers with immense throughput, cheap transactions, and good security. It is EXTREMELY difficult however, to design one that is decentralized. Because you have to distribute away the center, have a system of governance and philosophy that for centuries most would call a utopia, and is resistant to impairment from the powers outside. Now back to the Joker and his healing power of laughter. The EVM's only competition will be him: Bitcoin. The narrative around it by now...
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ETH -5.42% · threadreaderapp.com · 18h

The “economist” who is behind USA regulatory attack on crypto is the same guy who crashed the economy in 2008! Gary Gorton whose paper compares crypto to wildcat banking, was in AIG and devised faulty models that failed to account for mortgage defaults, leading to a $185 Bn Taxpayer bailout of AIG.

Thread by @twobitidiot: 1/ What if I told you the “wildcat banking” line of attack Biden appointees have been levying towards crypto came from the same source? Former AIG “expert” economist, Gary Gort...