Ethereum Gave Away Too Much for Too Long. Will Its Pivot Be Enough? - Ep. 829
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Mean, one thing you could do is just blacklist all the l twos. Just, like, hard fork out all the l two contracts and just say you're not allowed to post to these anymore. I don't really understand why you would not do that. If you're, like if you would took over Ethereum today as a company, this is what you would do. You just say, like, hey, your guys are not posting to us anymore. You're not using us anymore. We're not doing this alignment games. We're gonna freeze all the assets. You have to pay us to get them out, and let's, you know, hard do a hard reset. And that would probably be a good
Hi, Hi, everyone. Welcome to Unchained. You're a no high resource for all things crypto. I'm your host, Laura Shin. Every episode, we're featuring your comments. Today, we have a comment responding to my recent interview with Sam Kessler about the move scandal. On YouTube, doom guy PR says, quote, I'm tired of how scammy this industry is. The fact remains, way too many unsavory elements got early into crypto. While its idealistic values have always been important, we've had to carry the baggage of shitty people along. This is what made BTC maxis far too extremist in the other direction. If you
Excited to be here. Hey.
Thanks for having me.
There's been a bunch of changes in Ethereum recently at the foundation, plans for the layer one, proposals for the virtual machine, and more. I'm just gonna start with a general question before we dive into the specifics of each of these and any other changes. Before we got to this moment of this pivot or reprioritization as some people are calling it, how would you have characterized Ethereum's main problems? And just to differentiate voices, for this moment, I will call on, I'll call on Tarun first.
Yeah. I mean, I guess, like, first off, the fact that no one can agree on the fact that there's a pivot even though it's, like, very clearly a pivot if you, like, read the the the documents from, you know, now versus, you know, 2021. I I think, like, one kind of clear realization is that Ethereum kind of really did something that is very unique for a company to do, let alone a sort of decentralized network and decentralized community, which is it kind of took users of its protocol and said, actually, we're gonna give away 90 percent of what you're paying us for for free via roll ups. And we're
Yeah. I mean, I think at the end of the day, just to go back to the core question, what are the main problems with Ethereum? Basically, any company needs to build something people want, and Ethereum did that initially. And and other people build something that people want more, and Ethereum didn't make their product better. And so people moved over to the other product which was better. And for a long time, the network effects on ETH sustained what was going on there, a ton of activity because there's some value from doing your activity where everybody else is doing your activity. But eventual
I can't remember who said this to me. This was a while back, but I remember, they were comparing different chains and they described them by, like, country. And so I don't remember the full description, but I remember they said Ethereum is Canada because Vitalik is from Canada. And and not that I'm saying that, hopefully, people won't take it as me criticizing Canada. But but there is, you know, Canadians like to say, like, compared to Americans, they're kind of, like, more nice. They think about all of society. Americans more capitalist, blah blah blah. So, anyway, point is, like, I remember
I think, the kind of concession to increase the g
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