2021-02-24
Tuesday Night Roll-up
- Shrug off Dan Larimer's hype accusations, noting Cardano raised 2 percent of EOS's 4 billion yet shipped nearly 100 papers and a leading governance system.
- Champion working with rivals like Gavin Wood, Tezos, and Ethereum, since crypto's progress needs adults, not petty feuds.
- Frame Bitcoin as the steam engine of crypto, indispensable but due for an upgrade past its energy catastrophe and broken governance.
- Denounce maximalism as a cult and a road to nowhere, arguing altcoins already have tech like Prism and NIPoPoWs that could improve Bitcoin.
- Cast Catalyst as letting anyone get paid for their passion, so people will flock to and imitate Cardano, which is how you change the world.
25 entries
Opens February 23rd 2021 from Colorado joking about doing a whole prior video with no audio, and notes Bitcoin's volatile crash reminding everyone that what goes way up can come way down.
His frenemy Dan Larimer calls ADA hype and speculation, but he is happy to work with anyone, having gotten an email from Gavin Wood and being open to the Tezos and Ethereum foundations when it serves crypto's progress.
EOS raised 4 billion dollars while Cardano raised 2 percent of that, yet Cardano wrote nearly 100 papers, built a colossal ecosystem, and has the most advanced and fastest-growing governance system in crypto.
Cardano's consensus work leads the industry with Ouroboros Omega as the capstone, plus contributions in every field like the Sonic SNARK competing with Plonk and the pioneering extended UTXO model.
The Ouroboros agenda consumed six years and needs another two to four before everything is iterative, and programming language theory needs 10 to 15 more years to get smart contracts right, much as JavaScript took two decades.
Contrasts that Cardano told users everything up front while EOS promised 500000 to a million transactions per second and to kill Ethereum, renting floors at Consensus and a Times Square billboard, and is now a joke.
EOS is not decentralized and will never meet its promises despite having the money to build teams, since its founders got paid up front with no fiduciary responsibility, yet call Cardano hopium.
He never quits and every person he hires shares that relentless mentality, so some were let go or quit because the pace was too hard, and he hates not being further ahead, always reading papers for the next edge and optimizing every deal to bring millions into Cardano.
Shares a meeting about ideal stake pool hardware, considering a roll-up of NitroKey, Qubes OS, seL4, and a 600-dollar RISC-V device.
Takes ultimate CEO responsibility for setbacks, saying they could have launched with a working Ethereum virtual machine and led with Yoroi and an enterprise CLI instead of betting the farm on Daedalus and languages not ready for mainstream, but the superior language model and common suffering made the ecosystem stronger.
Turns to Bitcoin maximalists with a love-hate view, acknowledging none of them would be here without Bitcoin, the most important innovation of the 21st century that sparked a global awakening for programmable money.
Argues Bitcoin, like the steam engine that launched the industrial revolution, should be upgraded past its ecological catastrophe to competitive throughput, settlement, cost, programmability, and a governance system.
Bitcoin needs governance, or explain why Bitcoin Cash exists and why people were demonized over block-size disagreements, since an ecosystem that cannot evolve has a broken governance system.
Calls maximalism a cult and a road to nowhere, noting altcoins already built things that could make Bitcoin better, like Prism from Pramod Viswanath making it 10000 times faster with few trade-offs.
Cites NIPoPoWs from Dionysis Zindros and Aggelos Kiayias for light clients and side chains, and extended UTXO for programmability with a similar security model, asking why not do these things faster and cheaper.
Technology evolves like leaving Windows 95, 56k modems, and 3dfx Voodoo cards behind, but the cult of Satoshi blinds people to that progress, which was the point of his lost-audio video.
The industry stands at a crossroads between being a Rube Goldberg machine enriching a lucky few or fundamentally changing the world, depending on how its people treat each other with empathy and openness.
He does not see competitors as evil but as people with different opinions and values, giving benefit of the doubt while holding them accountable, admitting he often makes incomplete bad decisions on partial information.
He has no patience for maximalism or blind criticism, since welcoming newcomers by making them pick a side others hate is like a federal prison where you join a gang, making the more inclusive legacy system look better.
Urges the industry to slay maximalism, hold people accountable while venerating their good, work together when it serves everyone, and take a chill pill, since competitors are fellow travelers on the road of crypto.
It is not a zero-sum game and there could be five or ten standards like the world's dominant languages, and Cardano just happens to have the best chance and values, though the future may look radically different.
People to ignore price and optimize their own talents, since an inclusive system lets anyone rise while legacy systems treat people as commodities and push children into safe careers they hate.
Mathematics is a dreary undervalued field outside the Academy, but imagines getting paid to write proofs part-time, which their product Qeditas explores as a marketplace for deduction that could apply to every domain.
Catalyst will let hundreds or thousands wake up and work for a cryptocurrency, impossible with Bitcoin, so experts, politicians, artists, and scientists paid for credible passions will flock to Cardano within 12 to 24 months.
Growth begets imitation so people will work for Ethereum too, which is victory and changing the world, and some come for the money like Gene Simmons but a good community reveals a higher purpose, so the industry just needs to grow up with empathy bigger than egos and wallets.