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56391316 No.56391316 [Reply] [Original]

>everyone else OOOOOOing but me
what the fuck, it's not fair...

>> No.56391348

>>56391316
Despite the conspicuous death of nearly all of its competition at L1, I think ETH is in its most tenuous position in years, due to three main reasons:
1) Lido, and the conflict between core devs harping about "ETH principles" vs actors acting economically rationally, especially on the back of the "ultrasound money" fixation that has seen Ethereum core values put aside for profit maximisation.
2) L2s. Low value transactions moving onto an abundance of cheaper chains, leaving ETH with the narrative that "we are the gold standard of secure, decentralised blockspace", which would be fine, BUT
3) Sergey straight up coming out and saying that enterprise has no interest in settlement infrastructure, and will build and use their own.

So the low value txs are moving onto cheaper L2s, the high value txs will stay on enterprise settlement infra, and the whole platform is at risk of destabilisation from centralised staking derivatives.
Not a good time to be a diamond boi, if you ask me.