Epiphany

Just realised this is just a settlement layer. It hurts me to say this but linkies were right all along. How to cope?

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Settlement layers are one of the backbones of our modern economy

Yes, sure, but now all the fuss about 2.0 seems silly to me. ETH should just focus on security, let middlewares and layer 2 solutions do the rest. I can see all the development efforts moving to these really quickly

True, but did you just realised this now? We've been saying this for years

ETH is fucked.
Enjoy your bags. ETH 2.0 will release in 2025 and will be redundant.

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Weak fud.
Get rekt faggots no one cares.

All this fudding lmao

Ethereum is here to stay regardless of what fudders say. It is the bitcoin of smart contracts fucking deal with it. ETH 5k EOY 2021

Ethereum? Oh you mean the chainlink transfer network

necer said it was doomed. Just that it'll be used as a tamper proof database and not really for anything else

Just wait until Vitalk gets arrested for possession of child porn. Those bags will go to 0 faster than you can say Sir Jimmy Savile

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kek
yeah i'm buying FUND

Buy ETC

That's still a pretty fuckin' huge value proposition, my lad.

In case you guys aren’t watching the stream ETH basically bent the knee to LINK

Baseline protocol is basically Chainlink, literally says it’ll use Chainlink

Yes absolutely, I'm just a bit bummed out by the realisation I guess. I missed Link because I was too slow to realise this

You didn’t miss shit (yet).

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Yeah the settlement layer that everyone uses.
Get fucked ya wanker

It's never really claimed to be anything else though. What did you think it'd be?

>in b4 world computer
A calculator is a computer. I hope you didn't think it'd be a massive super computer running like iExec or something.

lol, I actually bough the supercomputer meme. ffs

It is, but it isn't. It enables those things though.

Yes, exactly. All the coding that can be done on it has to be done like a very low level, operating system/kernel coding for hardware. Creating dapps directly on ethereum while possible is straight up stupid. This will still be around 10 years from now, but none of the dapps you use will be the same. Instead we will be using L2 solutions that all settle across the world on ethereum. An actual use case lol. I really wonder how much it is going to cost between scalability solutions that require less ETH pet tx and increased demand for ETH because there will be more txs AND hype
I keep getting the $10k figure in my head, but it could be more.
Also, running an eth2 node in future will be akin to running a small bank that settles information globally. It will be like a small business in a couple of decades.

Link?

Oh it’ll play a part in the world computer.

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You're still gonna make it bro. Just because it's not what you thought it was doesn't mean it's any less better. What it is, is actually better and more necessary than the super computer meme, since it enables and is the infrastructure for those things.

You still need Ethereum. It's price will still moon.
- Ethereum is the base currency as opposed to BTC on decentralized exchanges to swap in and out of
- Ethereum is needed for gas to power transfers, DeFi
- Ethereum will now be needed to stake and keep the Ethereum network running for all layer 2/ERC-20 tokens
- Everyone who has a layer 2 token has to have an Ethereum based wallet -- everything runs through Ethereum
- Besides all the cool layer 2 shit going on, Ethereum still has a use case as currency (more so than Bitcoin) and store of value

Fat protocol theory , linkie

The truth in this thread is heartwarming, Zig Forums

I can't handle that level of hopium user. I hope you're right

user is very right. Ethereum has already been picked. All other blockchains will just serve niche fields and settle for total finality on Ethereum through chainlink and other methods.

What an absurd conclusion.
Every layer2, dapp and middleware token is worthless. There are no networks effects on ethereum and everyone immediately moves to the cheapest place for anything. Which means the moment anything tries to extract rent it's going to be outcompeted by some alternative. Tokens only have value if they can extract rent.
This reality is only hidden by the enormous bubble of speculative money that distorts valuations of everything to absurd proportions.

Ethereum itself is the only thing that has network effects. This means all extractable value is going to flow to eth in the form of fees paid by everything else.

Timeline is unknown. It's going to require a full cycle of speculative interest waning -> dapps/middleware find out they have to charge fees rather than fund itself from investors -> they start charging fees -> everyone switches to tokenless feeless alternatives -> everyone realizes everything on ethereum lacks any moat.

Yes, LINK!