Long uni (Uniswap), short eth (Ethereum)
Expresses my hunch/worry: The coming "Cosmosification" of Ethereum, via L2s, won't be kind to eth holders. But, it is bullish for successful DeFi tokens on Ethereum.
If the thread gets likes and retweets, I'll convert to blog post
Meher Roy
7,566 posts
Chemical engineer, biotechnologist, entrepreneur
Basel, Switzerland
Born April 15, 1988
Joined May 2014
- Ethereum's "ground has shifted beneath it's feet" issue. The sharding roadmap led to most of Ethereum 2's design choices. It took years to implement Beacon chain. But on arrival, it is uncompetitive with the State of the Art (SOTA) in blockchains. Examples follow:
- A pre-preduct ICO followed by large founder salaries and in-ability to ship product is indistinguishable from a scam.
- The story of how I got diagnosed with blood cancer. OR How heart rate monitoring led me to catch a deadly cancer 2 weeks early, and maybe saved my life.
- Bitcoin is a shitcoin! Ethereum merge & it's ripple effects demonstrate the instability of the Store of Value market. This market will be dominated by networks with attractive products & business models. Bitcoin has too long ignored these and has humongous costs. A thread:
- I am quite pleased at these recent "Cryptocurrencies are a systemic risk" posts. From a toy currency for drug dealers, we've come to be perceived as a major financial systemic risk - we've all been promoted :).
- My hospitalisation ends today. With some luck, this might be my last hospitalisation for a long while. Been an epic journey. Learnt a ton and grew as a person.@MeherRoy’s inpatient journey ends on Diwali 🪔 I am choosing to remember this journey as one filled with many afternoon naps in the hospital garden, loud laughter, some childish posing and a lot of love ❤️
- Replying to @MeherRoy1/ Take time to finality for example. On ETH2, it is ~48.5 blocks, 12 second per block on average. Roughly, 10 minutes. Meanwhile, Avalanche has a 750 ms time to finalize transactions with 1000+ validators. Ethereum 1000X slower than Avalanche.
- Replying to @MeherRoy7/ And so on. There's zero good critics in Ethereum. Either they're the Bitcoin crowd thats stuck with odd ideas. Or alt L1s. There isn't a good educated ether holding Ethereum skeptic. My nature is to build, not to critic. But, I have to step up here.
- Replying to @MeherRoy1/ I was knocked out of crypto by cancer for ~15 months. Recently went to an Ethereum meetup. Conversation completely dominated by L2s. Ambitions for L3s. Issue: L2s solve "scaling", but they take away MEV and tx fees from main chain, weakening its business model.
- The most entertaining outcome will be Ryan Selkis as SEC chair in a Trump administration.
- Replying to @MeherRoy3/ This trend of a central ecosystem developing token being progressively weakened due to a bad business model & transactions (MEV) being exported to other infrastructure is what I call Cosmosification. Cosmosification is Ethereum's great risk over next 5 years.
- Replying to @MeherRoyPreface: Eth made my career. I hung out at Zug hacker house in 2014. Bought eth in 2015, and still hold. Vitalik is an intellectual God to me. I am thankful to eth. Without it, I would have been frustrated in a pharma job. But, I find my confidence wavering. This expresses why.
- When the US Government responded to SVB crisis on Sunday, I was positively amazed - what a fast and decisive action. Two days later, I am scratching my head at the various prongs. Here are a few childish questions from a crypto bro:






