Read on Twitter
1/24
For those who don't spend every moment reading about #Ethereum , here is a crash course on what is about to happen in the next 6-12 months…
I’m keeping the time frame tight and trying not to speculate too far into the future (maybe another thread).
For those who don't spend every moment reading about #Ethereum , here is a crash course on what is about to happen in the next 6-12 months…
I’m keeping the time frame tight and trying not to speculate too far into the future (maybe another thread).
2/24
DApps will begin adopting and implementing layer 2 scaling solutions. We’ve had an absolute avalanche of layer 2 projects launch in the last 2 months. The community is doing a great job of breaking down the tradeoffs involved and the advantages of certain platforms.
DApps will begin adopting and implementing layer 2 scaling solutions. We’ve had an absolute avalanche of layer 2 projects launch in the last 2 months. The community is doing a great job of breaking down the tradeoffs involved and the advantages of certain platforms.
3/24
We will see a lot of DApps start to announce their chosen scaling solution. This will be based on the needs of their specific service and the tradeoffs of the respective layer 2 scaling platforms. For example: https://twitter.com/neondistrictRPG/status/1280431676842115072?s=20
We will see a lot of DApps start to announce their chosen scaling solution. This will be based on the needs of their specific service and the tradeoffs of the respective layer 2 scaling platforms. For example: https://twitter.com/neondistrictRPG/status/1280431676842115072?s=20
4/24
The rollout of layer 2 scalable solutions will take many by surprise. The adoption will be fast and it will redefine the 15 transactions per second paradigm that Ethereum has been limited by since the beginning.
The rollout of layer 2 scalable solutions will take many by surprise. The adoption will be fast and it will redefine the 15 transactions per second paradigm that Ethereum has been limited by since the beginning.
5/24
Users of specific DApps will be first to recognize the step change. The DApps that benefit the most will be gaming platforms and exchanges. This will enable the first crypto game to finally go mainstream (reach +1 million players).
Users of specific DApps will be first to recognize the step change. The DApps that benefit the most will be gaming platforms and exchanges. This will enable the first crypto game to finally go mainstream (reach +1 million players).
6/24
Outside of hard core Ethereans, many will not recognize the paradigm shift. Count on steady FUD from Bitcoin maximalists who will move the bar yet again and claim this doesn’t matter because…silly reasons.
Outside of hard core Ethereans, many will not recognize the paradigm shift. Count on steady FUD from Bitcoin maximalists who will move the bar yet again and claim this doesn’t matter because…silly reasons.
7/24
Ethereum killer chains will claim that if it isn’t on layer 1 it doesn’t matter because…silly reasons. Lots of VCs and investment groups will listen and repeat the FUD because of their heavy bags. Tron will try to copy everything and claim it as their own.
Ethereum killer chains will claim that if it isn’t on layer 1 it doesn’t matter because…silly reasons. Lots of VCs and investment groups will listen and repeat the FUD because of their heavy bags. Tron will try to copy everything and claim it as their own.
8/24
Slowly we will see the congestion of Ethereum layer 1 start to lessen. However, as layer 1 block space is freed up, new DApps (or existing ones converting) will take advantage and clog the chain again. We won’t see dramatic drops in transaction fees until ETH2.0 Phase 1.
Slowly we will see the congestion of Ethereum layer 1 start to lessen. However, as layer 1 block space is freed up, new DApps (or existing ones converting) will take advantage and clog the chain again. We won’t see dramatic drops in transaction fees until ETH2.0 Phase 1.
9/24
ETH2.0 Phase 0 official testnet launch. I’ve run nodes on every dev testnet (Schlesi, Topaz, Witti, Onyx and Altona) using Prysm, Lighthouse and Teku. The clients are getting very, very good and the testnets are getting smoother. We are so close, so close.
ETH2.0 Phase 0 official testnet launch. I’ve run nodes on every dev testnet (Schlesi, Topaz, Witti, Onyx and Altona) using Prysm, Lighthouse and Teku. The clients are getting very, very good and the testnets are getting smoother. We are so close, so close.
10/24
Lots of ETH2.0 staking service companies will make huge marketing pushes. The battle for market share in providing staking services will be intense.
Lots of ETH2.0 staking service companies will make huge marketing pushes. The battle for market share in providing staking services will be intense.
11/24
The push is intensified because any customer acquired during Phase 0 will be locked in until Phase 1 when transactions are enabled. There will be two competing ideologies, custodial vs non-custodial services.
The push is intensified because any customer acquired during Phase 0 will be locked in until Phase 1 when transactions are enabled. There will be two competing ideologies, custodial vs non-custodial services.
12/24
A custodial solution by an exchange will offer liquidity during Phase 0, and it will be hard for investors to pass up. Many will warn "Not your keys, not your tokens". Very few will listen. At least one service will go belly up, the fallout will be ugly.
A custodial solution by an exchange will offer liquidity during Phase 0, and it will be hard for investors to pass up. Many will warn "Not your keys, not your tokens". Very few will listen. At least one service will go belly up, the fallout will be ugly.
13/24
ETH2.0 Phase 0 mainnet launch will be the most pivotal event in all of crypto since the launch of ETH1.0. People talk about Bitcoin halving events…they are minor league compared to this. Devs feel a lot of pressure already, and we need to encourage them to be brave.
ETH2.0 Phase 0 mainnet launch will be the most pivotal event in all of crypto since the launch of ETH1.0. People talk about Bitcoin halving events…they are minor league compared to this. Devs feel a lot of pressure already, and we need to encourage them to be brave.
14/24
Phase 0 needs to launch mainnet in 2020 or the market will punish Ether prices severely. The market has already been brutal due to delays thus far.
Phase 0 needs to launch mainnet in 2020 or the market will punish Ether prices severely. The market has already been brutal due to delays thus far.
15/24
A successful ETH2.0 Phase 0 mainnet launch will cause ETH price to skyrocket and memes about the flippening will come out in full force. Lots of institutional money and projects are waiting to see if Ethereum will deliver on its promises.
A successful ETH2.0 Phase 0 mainnet launch will cause ETH price to skyrocket and memes about the flippening will come out in full force. Lots of institutional money and projects are waiting to see if Ethereum will deliver on its promises.
16/24
Hard core hodlers will prep during the testnet to run nodes at launch, but most will not risk it. The wave will grow exponentially as Phase 0 proves stable and stakers are envied for the fat rewards they are piling up while others sit on the sidelines.
Hard core hodlers will prep during the testnet to run nodes at launch, but most will not risk it. The wave will grow exponentially as Phase 0 proves stable and stakers are envied for the fat rewards they are piling up while others sit on the sidelines.
17/24
Taxes during the ETH2.0 transition will be a nightmare. I’m begging the Ethereum Foundation to make an official statement saying that ETH2.0 Ether is the same as ETH1.0 Ether.
Taxes during the ETH2.0 transition will be a nightmare. I’m begging the Ethereum Foundation to make an official statement saying that ETH2.0 Ether is the same as ETH1.0 Ether.
18/24
I know the foundation doesn't want to make authoritative statements so that we remain community first, but please, we can’t trust gov’t agencies to understand technical nuance on their own.
I know the foundation doesn't want to make authoritative statements so that we remain community first, but please, we can’t trust gov’t agencies to understand technical nuance on their own.
19/24
An additional tax headache will be accounting for staking gains while the tokens are locked on the beacon chain. In the US, mining rewards are taxed as ordinary income. But how are you supposed to pay taxes on Ether you can’t sell?
An additional tax headache will be accounting for staking gains while the tokens are locked on the beacon chain. In the US, mining rewards are taxed as ordinary income. But how are you supposed to pay taxes on Ether you can’t sell?
20/24
Additionally, if you leave a portion of your Ether on ETH1.0 and sell it to pay taxes on your staking rewards, do you have to pay additional capital gains on the previously acquired ETH1.0 coins? This will be a nightmare, you have been warned!
Additionally, if you leave a portion of your Ether on ETH1.0 and sell it to pay taxes on your staking rewards, do you have to pay additional capital gains on the previously acquired ETH1.0 coins? This will be a nightmare, you have been warned!
21/24
The pressure to create a ETH1.0 to ETH2.0 bridge will grow. Currently, the Ethereum Foundation plans to bridge the two during Phase 1.5 when ETH1.0 becomes an actual ETH2.0 shard.
The pressure to create a ETH1.0 to ETH2.0 bridge will grow. Currently, the Ethereum Foundation plans to bridge the two during Phase 1.5 when ETH1.0 becomes an actual ETH2.0 shard.
22/24
This may feel like the right technical decision, but as the amount of Ether locked in ETH2.0 grows, the push to get liquidity earlier will become deafening. I don't think the Foundation realizes the pain this will cause. Make contingency plans now.
This may feel like the right technical decision, but as the amount of Ether locked in ETH2.0 grows, the push to get liquidity earlier will become deafening. I don't think the Foundation realizes the pain this will cause. Make contingency plans now.
23/24
ETH 2.0 will give DeFi superpowers. I’m cheating a little since the real superpowers won’t engage until after Phase 1 when transactions become possible. Projects will create superpowered DeFi products using staking reward derivatives.
ETH 2.0 will give DeFi superpowers. I’m cheating a little since the real superpowers won’t engage until after Phase 1 when transactions become possible. Projects will create superpowered DeFi products using staking reward derivatives.
24/24
The beacon chain will control the interest rate of a new class of asset which I call "crypto treasury bonds". These will become the beating heart of the crypto financial industry. They will spawn almost infinite crypto financial instruments.
The beacon chain will control the interest rate of a new class of asset which I call "crypto treasury bonds". These will become the beating heart of the crypto financial industry. They will spawn almost infinite crypto financial instruments.
