0xGood retweeted
If you really want to see the competency of the SEC to protect investors, you ought to see what they allow Masterworks to do.
Aggressive salespeople sold the idea of owning fractional shares of art with a secondary market place.
They appraise the art you own to be higher and higher so your portfolio indicates you’re up, but the orderbook for their secondary marketplace shows the true value of the art has no buyers unless you sell 25-50% below initial offering.
For what little money I sunk into it years ago, I can only hope they sell the art pieces to some other collector eventually.
TLDR: I couldn’t sell shares worth a few thousand dollars of an Andy Warhol piece rn for anything better than 25-50% below what they show as the “appraised value.” 🤦♂️
0xGood retweeted
What was the valuation of Monad in the last round?
Pair trade idea: long Monad, short $SEI
SEI is overvalued vaporware. Standard cosmos SDK chain. Nothing special. Sei is a larp
Monad is real HFT bros
@blknoiz06 @keoneHD
0xGood retweeted
Replying to @blockgraze
We should start a venture capital firm now that we’ve proven ourselves
0xGood retweeted
I am so fucking weak
"We have been informed by reliable sources that Irys is considering forking Arweave. [...] however, they plan not to maintain the dataset and to start the token supply from scratch. When asked why, they stated that they didn’t want to have to support the existing data and ‘give tokens to a bunch of (expletives)’.
This is going to be really interesting... Irys is responsible for like >90% of data that is published to Arweave
So here is some crypto drama for you… 🍿
This week we heard that @irys_xyz is planning to fork Arweave.
Permanent storage needs forks – they are required for long-term resilience. There is a pro-social and anti-social way (which Irys is unfortunately pursuing) of forking Arweave. Let’s take this opportunity to explore them…
tl;dr:
- @iris_xyz is considering forking Arweave. They intend to drop the dataset and reset the token supply. This appears to be a play motivated by greed, as users have placed their trust in Irys to upload to Arweave for them.
- There is an established mechanism in the network, called protocol evolution, which allows a safe way to fork and upgrade the network. They are ignoring it.
- There is a new, 100% free and 100% Irys compatible bundler available at up.arweave.net. Simply swap your Irys node URL to this one in order to use it. This conclusively solves the problem for Arweave users.
- Given this situation, @ar_io_network intends to remove the Irys bundlers from the trusted set on the main Arweave gateways. This will lead to significant delays before user data is available.
We will be organizing an X spaces soon. Stay tuned.
Ok, now the details… 👇
Background
Forks are an important part of blockchain governance. They allow communities to try out different approaches and to solve problems together.
For a permanent storage network, however, forks need to be done in the right way: preserving and building on the state, not destroying it. When forks are done in this way, they allow the network to improve itself and route around problems over time, keeping the dataset safe. When forks are not done this way, they will not be able to achieve information permanence – as all of the data would be periodically dropped.
In order to facilitate smooth evolution of the Arweave protocol through forks, our ecosystem has established the evolutionary protocol guidelines. You can read about them here:
arweave.medium.com/arweave-i…
Think of them like a social constitution for a blockchain network.
Arweave protocol evolution in brief
In a nutshell, the rules of the evolutionary forking system work like this:
1. Anyone can build a fork at any time.
2. That fork should carry forward the network’s dataset and token supply.
3. The fork can also mint any number of new tokens to compensate its builders.
This system allows forks to compete and improve the protocol in a pro-social way: the dataset remains safe, a market for new ideas is created, and innovators are rewarded. It also allows token holders to accrue a basket of tokens across the set of forks of the network, or to actively trade them if they believe that one or another fork is preferable. It’s a win-win for everyone.
So what is the Irys fork?
We have been informed by reliable sources that Irys is considering forking Arweave. Despite the existence of the framework for evolving Arweave, however, they plan not to maintain the dataset and to start the token supply from scratch.
When asked why, they stated that they didn’t want to have to support the existing data and ‘give tokens to a bunch of (expletives)’. We are having a hard time finding reasons for this other than greed.
Vulgarities about our ecosystem aside, this approach shortsightedly hampers even their own project of permanent storage. If the dataset and token supply are consistently reset, no fork can ever succeed at the long-term mission.
We are still hoping that they see the light and decide to build their fork the right way. We are always open to chat and to support their experiment if it is done in a way that helps the ecosystem.
What if I use Irys and don’t want to be part of this drama?
Irys may stop uploading your data to Arweave at any time.
Fortunately, switching bundlers is super easy and solves the whole problem for our entire ecosystem. @fwdresearch is currently running a free (100% subsidized) Arweave bundling service, thanks to the awesome support and services of @ar_io_network. We will keep this service running for the foreseeable future as users migrate. In the long-term, both @ar_io_network and @EverVision offer fantastic hosted bundling services. Alternatively, you can always spin up your own bundler for your app.
All you need to do to switch to the free Arweave bundler is swap your Irys node URL in your code to up.arweave.net.
@irys_xyz is currently part of a trusted group of bundlers that are allowed to ‘optimistically’ show their content on the main gateways of the Arweave ecosystem before their content settles onchain. This system requires trust that the data will eventually be uploaded to Arweave. Trust that has now been lost. As a consequence, the optimistic cache for Irys data will be imminently disabled on the @ar_io_network maintained arweave.net and associated gateways. The effect of this is that content uploaded through Irys will experience a significant delay before the data is available to view (~20 minutes to an hour).
If you are an Irys user and you would like help migrating, DM @ar_io_network and we can get you setup with 1:1 support right away.
If you are curious about the rationale for Arweave’s evolutionary forking system, check out our paper about it:
arweave.net/loJ6EmO_2pTA313k…
Crypto: It’s never boring 😄.
There's a new version of this post
0xGood retweeted
Love the airdrops to developers, client teams, and open source contributors but uhh... Don't make them too rich please. Idk how else to say it. Can't have everyone retire at the same time lmao.
0xGood retweeted
Presented without comment
I have a new fund.
Naval, Brian Armstrong, Fred Wilson are backers.
I'm also putting in my own money.
I'll be seed investing in every promising company.
Especially startup societies & network states.
The fund is for accredited investors.
And it's live at balaji.com.
0xGood retweeted
of course ethereum has no liquidity you retards locked 850 million dollars until february
0xGood retweeted
iight bros two hours till the finance guys leave the friday office and log in to crypto land for the weekend what altcoins are we buying
0xGood retweeted
Looking like it's going to be increasingly difficult for decentralized AI projects specifically focused on inference to compete with centralized alternatives.
ZK proving costs for inferencing a model is 75x more expensive than just using AWS. Hard to see many users paying for proof of inference except for areas where its critical like in DeFi. Can't see ZKML taking off in verticals like gaming or social.
(pic from @ModulusLabs research)
0xGood retweeted
kudos to @realDonaldTrump for being one of the few NFT creators that gives actual utility to his holders:
- dinner at mar-a-lago
- a piece of his suit from his mugshot
- a physical trading card counterpart
NFT utility is here – it's just not evenly distributed
0xGood retweeted
you are not in the trenches you are a 30 year old gambling addict and your mother desperately wants a grandchild
0xGood retweeted
Binance Smart Chain did a closed-source hard fork on 7 December. No details have been released. We still do not know how their state roots diverged.



























