BTC cannot support MASS self-custody: If everyone in the world did only one BTC TX, the queue would be over 37 years long! The math is undeniable: (Block size (1.66MB)/Transaction size (P2PKH) (374B)) / Block time (10M) = TPS (7.75). 8B (Users) / 217M (Yearly TXs) = 37 years!

BTC cannot support MASS self-custody: If everyone in the world did only one BTC TX, the queue would be over 37 years long! The math is undeniable: (Block size (1.66MB)/Transaction size (P2PKH) (374B)) / Block time (10M) = TPS (7.75). 8B (Users) / 217M (Yearly TXs) = 37 years!

Ethereum has failed! The cause is centralized control & dysfunction; a fatal combination Vitalik is a dictator steering ETH into oblivion, losing its lead in usage & fees due to their "L2 scaling" roadmap Refusing stakeholder voting means we must vote with our feet instead: 🧵 We can know this for certain, as the political analysis clearly exposes centralized control & dysfunction. The leadership, including Vitalik, has repeatedly spoken out against token voting, but what exactly is the alternative here? Centralized Governance You guessed it, the only alternative is centralized control & decision making Without formal systems of on-chain governance, power instead concentrates informally within the pre-existing status quo, as the only way to solve this hard coordination problem off-chain is through extreme centralization For those in the know, this is following exactly the same playbook as BTC, which went through a civil war that managed to squash all opposition to this status quo & entirely pivot BTC away from L1 scaling, contrary to its original design & vision That also tells us that this problem is systemic to these blockchains' design & not purely contextual, as this pattern keeps repeating itself. Fortunately, that also means we can most likely fix it with more systemic changes That is why token voting is so important to break out of that vicious cycle of failure. That is why it must be part of the next evolution of blockchain design Ethereum Scaling You might now protest & say that ETH is scaling, but that is unfortunately not exactly true, at least not in a competitive sense There are now finally plans in place to increase capacity, but not speed... This makes ETH utterly uncompetitive in the most lucrative use cases in crypto. Putting ETH on a losing path! More specifically, the ZKEVM roadmap is the next blunder in ETH's roadmap history. Just like the "L2 scaling" roadmap, they will waste the next four years on it & they will have very little to show for it The time it takes to compute a fraud proof requires slow block times. This slows the entire chain down, permanently, as this also only scales linearly... Overly complex, slow & with additional centralization trade-offs (builder centralization). Another terrible decision in a long line of terrible decisions, with trade-offs that make no logical sense from an engineering perspective! But Decentralization The argument, then, is always "but decentralization". This also falls apart when you properly factor in the economic effects on blockchain design. As it is, fees that ultimately pay for decentralization, security & scarcity Therefore, in the long run, whatever chain that wins the most fees will be the most decentralized, precisely because it is so useful. By making ETH useless, they are severely hurting its long-term decentralization! We then end up in a situation where competitors are faster, cheaper & more decentralized, scarce & secure What argument is then left for ETH? None! At that point, it becomes a cult centered on a purely speculative meme token. That is exactly what happened to BTC, as ETH is more useful, scarce, more secure & decentralized than BTC today. The exact same thing will now happen to ETH as it continues to be overtaken & history repeats itself Centralization Spiral Paradoxically, the more ETH's leadership denies that they exist, the more they distance themselves from decision-making: The more centralized it gets! That is because human beings need power structures/leadership/governance processes & in the absence of formal structures, human beings gravitate towards informal power structures, which always tend to be more dictatorial, corrupt, & dysfuctional Explaining ETH's steady decline over several years now The Alternatives What is the alternative, you might ask? Well, there are plenty. The leaders in terms of fees & usage are most certainly SOL & HYPE. If, like me, you wished ETH had implemented sharding as initially promised, NEAR is a great option. At scale, NEAR is also far more decentralized than ETH! SOL's relative evaluation compared to ETH only needs to double to overtake ETH in the security budget, at only one-fifth of the market cap! This is due to a higher rate of staking participation We can get even crazier: although I am still a critic of ADA's scalability, I would argue it is actually more decentralized than ETH TODAY. Due to its comparable validator count and robust on-chain governance! ETH Maximalism Maximalism is stupid, as it blinds us to the truth That ETH is becoming more cult-like is par the course. As such, an ideology is necessary to cope with the massive cognitive dissonance required to continue believing in what ETH has become That is why, over time, as things get more extreme, the reasonable people leave & the demographics shift to become more & more insane It is all so fascinating from an anthropological perspective, but tragic from the perspective of anyone who cares about this movement My History I say this as a former die-hard Ethereum supporter, as I own & help manage the oldest multi-asset liquid token fund in the world (@cybercapital) & from 2016 till 2022, ETH was the largest asset in the fund I even personally mined ETH in the first week after launch with my own 20 kW mining farm in 2015. I was seen wearing an Ethereum T-shirt at every conference I attended during that time, too! By 2023, when I became a critic of ETH's "L2 scaling" roadmap, I was ostracised & attacked. Going from respected community member to pariah overnight. (This does a lot to explain some of the tribalistic pressure for groupthink within crypto communities!) Yet now, four years later, my position is validated as even Vitalik acknowledges the "L2 scaling" roadmap as a failure & mistake: They are not the smartest people in the room when they keep messing it up! Conclusion We speak out because we care, we care about what Ethereum's leadership claims to care about The difference is that we are able to build a viable & competitive path towards that future, through actually building useful products, we can change the world for the better by being competitive in the free market Ethereum's centralized leadership is stuck in its own ivory tower, so out of touch that they have the audacity to release such an insane manifesto that every institution that would seriously look at it should run away There is no hope for Ethereum because the mechanisms for change are captured, while political analysis shows a leadership more extreme than ever. The opposition has been pushed out; that is what the recent mandate & all of the people leaving ETH reveal to us That is why Ethereum has failed; it has already lost, as there is no way to correct course anymore Because they refuse to give us the vote: We have to vote with our feet instead! ✊

The Netherlands is becoming an authoritarian state: The 36% capital gains tax destroys our property The anti-free speech laws took away our liberty Now they want our children, as they ban homeschooling! Completing the full tyranny set by stealing life, liberty & property! 💀

The Netherlands is becoming an authoritarian state: The 36% capital gains tax destroys our property The anti-free speech laws took away our liberty Now they want our children, as they ban homeschooling! Completing the full tyranny set by stealing life, liberty & property! 💀

I've been seeing a lot of FUD and think a lot of people are misunderstanding this. In the past year, industry major mobile data carrier offloads emerged as @helium's primary revenue driver. This marked a major shift not only for Helium, but DePIN at large, as AT&T and T Mobile marked the first traditional infra players to leverage DePIN at scale. Data transfer revenue directly accrues back to token holders through token burns, making solana:hntyVP6YFm1Hg25TN9WGLqM12b8TQmcknKrdu1oxWux deflationary. @helium_mobile validated this use case, attracting the biggest players in telecommunications. Through @AndrewYang 's acquisition, Helium Mobile shifts from a native service provider to an offloader just like AT&T and T-Mobile. This puts both teams in a position to focus on what they do best, affordable consumer facing mobile services for @joinnoblemobile, and highly scalable industry ready DePIN for Helium.