simone.dev retweeted
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".
Three primary reasons:
1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)
EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.
The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
Three primary reasons:
1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)
EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.
The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
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When being just and honest comes at a price, pay it.
When being just and honest comes at a price, pay it. When forgiving seems like a defeat, forgive. When everyone tells you to think of yourselves first, do not be afraid to put yourselves in the last place. Be willing to give up time, money, comfort and plans to serve others. May those who see you find themselves asking: “Why do they live in this way? Where do they get this freedom? Why do they love one another so much?” #ApostolicJourney #Uruguay
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simone.dev retweeted
If a company scammed you in one way (hypothetically, say it's some other crypto card company) then they're probably scamming you in many other ways that you just don't know about yet.
Scam you once, shame on them, scam you again and again and again, maybe you're retarded.
Scam you once, shame on them, scam you again and again and again, maybe you're retarded.
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simone.dev retweeted
Banks, payment companies and asset managers are moving onto Ethereum. What do they need to get there, and what changes when they do?
@_rymnc, Director of Engineering at @eth_systems, was part of the Ethereum Foundation’s Institutional Privacy Task Force before the team spun out DotDev, Head of Payments at @ether_fi, is building the payments side of its crypto neobank.
Ruchir Dalmia, Europe Director at @0xPolygon, leads Polygon’s work across Europe.
They’ll be on the panel, Institutions Onchain. Payments, privacy and the plumbing institutions need, from the people building it.
Moderated by @rashmivabbigeri of Sun Flora Collective.
4 Nov · Mumbai, inside Devcon
@_rymnc, Director of Engineering at @eth_systems, was part of the Ethereum Foundation’s Institutional Privacy Task Force before the team spun out DotDev, Head of Payments at @ether_fi, is building the payments side of its crypto neobank.
Ruchir Dalmia, Europe Director at @0xPolygon, leads Polygon’s work across Europe.
They’ll be on the panel, Institutions Onchain. Payments, privacy and the plumbing institutions need, from the people building it.
Moderated by @rashmivabbigeri of Sun Flora Collective.
4 Nov · Mumbai, inside Devcon
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simone.dev retweeted
"We need to be able to trust our operating systems.
We need to be able to trust our hardware.
We need to be able to trust the things that are most relevant to our health.
We need to be able to trust our sources of information and connection to other people.
We need to be able to tools.
We need to be able to trust our AI.
What is the answer? We need to figure out together." - @VitalikButerin
📍 Devcon 8, Opening Ceremony
We need to be able to trust our hardware.
We need to be able to trust the things that are most relevant to our health.
We need to be able to trust our sources of information and connection to other people.
We need to be able to tools.
We need to be able to trust our AI.
What is the answer? We need to figure out together." - @VitalikButerin
📍 Devcon 8, Opening Ceremony
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simone.dev retweeted
Goodmorning
On the email users got, about converting points for KAST Pioneer Units. Let me say this, and then will leave it for you to absorb.
—-
First -
We are super limited in the language we can use, because of country-by-country rules. Use that for context, in what we released.
Second -
We didn’t just come up with some program out of thin air. The conversion of points to KAST Pioneer Units, came after a long and super expensive process with Tier 1 law firms, and with approvals from investors to create this setup. It literally cost us millions just to setup. We got legal opinions on dozens of countries. Obviously, we would only do this because we are really trying our absolute best to create a strong program for the community.
Third -
Just to reconfirm.
The KAST Pioneer Units, will be issued by a KAST-linked SPV. This is the only practical step for issuance globally. The points will convert to the KAST Pioneer Units.
There will be periodic cash out events. We can’t legally promise you the amounts, the dates, whether it goes up or down. No surprise in that.
But we are putting in the hard work, so the community gets an outcome aligned to the success of KAST.
The only thing you have to do, is quickly accept the conversion, details early December in app.
Fourth -
Why is there no token? Because no single project in the crypto card or Neobank space in history, has ever delivered a token which is not down. Tokens are almost always not aligned to the community. The founders and team most often end up with a treasury they wholly control, they along with investors cash out, and the token holders deal with the volatility and the ultimate decrease in price.
By not launching a token, our team and investors get none of that optionality. They stay locked in equity. To date, I have personally only net purchased equity in KAST and never sold.
Launching a token completely counter to our ambition to build a $100B+ company. We believe the KAST Pioneer Units will be the best long term outcome, and in time people will realise this.
Finally -
We understand that in a market which is very far down, many are looking for anyway to cash out. We get it. There is real pain in crypto prices, many have seen their wealth fall substantially.
But still strongly believe the KAST Pioneer Units, issued by the SPV, will ultimately prove to be the right decision. Time be our witness.
Thanks all.
(Note: I won’t respond to most comments, as I’m keeping to approved language)
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simone.dev retweeted
Dia de jogar o lixo fora @KASTxyz @kastbrasil 🗑
Marque um amigo nos comentários que deve jogar a #Kast no lixo também. Bora mostrar para o projeto como estamos contentes com as novidades! 🔥
Marque um amigo nos comentários que deve jogar a #Kast no lixo também. Bora mostrar para o projeto como estamos contentes com as novidades! 🔥
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simone.dev retweeted
Your Swiss francs, with everything ether․fi offers
ZCHF is now supported across ether․fi. Spend it with your card and earn cashback, borrow USDC against it, or buy stocks
Built for our Swiss members
Made possible by our partners @frankencoinzchf @mtpelerin 🇨🇭
ZCHF is now supported across ether․fi. Spend it with your card and earn cashback, borrow USDC against it, or buy stocks
Built for our Swiss members
Made possible by our partners @frankencoinzchf @mtpelerin 🇨🇭
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simone.dev retweeted
Repeating this again: get your funds off ANY AND ALL Solana/SVM chains immediately. 🚨
Further updates will arrive in 24 hours.
Further updates will arrive in 24 hours.
Get your funds off any Solana or SVM chains and move them to Ethereum Mainnet.
f5df29e4e18d99626f6676cfebfd026f86ff2e14643b5391d7c8df22f18e2494
github.com/anza-xyz/agaveCommunity noteSolana's Agave GitHub shows routine development and the hash is unlinked to any reported issue or exploit. The network has operated normally since the successful Alpenglow upgrade.
status.solana.com
github.com/anza-xyz/agave
solanacompass.com/news/solana-al…
theblock.co/news/ecosystem…
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So many feature will be tied to this. You'll regret not claiming a good one now!
We made sending money on ether․fi as easy as tagging someone
> Just claim your @name
> Pay by tag
> Get paid by tag
No wallet addresses ever again
Claim yours now: ether.fi/app/cash
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simone.dev retweeted
We made sending money on ether․fi as easy as tagging someone
> Just claim your @name
> Pay by tag
> Get paid by tag
No wallet addresses ever again
Claim yours now: ether.fi/app/cash
> Just claim your @name
> Pay by tag
> Get paid by tag
No wallet addresses ever again
Claim yours now: ether.fi/app/cash
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simone.dev retweeted
look the foundational problem with ethereum protocol design is that most of the people designing the protocol don't actually use ethereum themselves. you can't fix the right things if you don't use your own fucking product. you don't have enough skin in the game if you don't personally depend on the system you're designing & stand to lose money when it breaks. i understand, everything looks great from an ivory tower lol. things look very different when you're actually on the ground dealing with the consequences. if you don't use ethereum yourself but still think you're qualified to design its protocol, you're playing god with a system you don't have to live with and whose consequences you don't have to suffer.
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