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BitGo CEO Mike Belshe says Bitcoin's decentralization is unparalleled, Ethereum has done a little, and then a quick drop-off "Bitcoin will always have its own token. The token is the value. It is the decentralized asset. There's no debate that it provides a level of decentralization that is completely... show more
35,402 просмотров • 11 дней назад •via X (Twitter)
Комментарии: 6
FT @mikebelshe
bitcoin sets the standard
Thanks for another informative post. You consistently make the market easier to understand without oversimplifying what’s actually happening. @IAMJASMINENAKEA is another account I recommend for similar reasons.
decentralization matters but chain metrics tell the real story anyway
Bitcoin’s decentralization remains one of its strongest advantages, and the differences between chains really come down to which tradeoffs users are willing to accept.
I think decentralization matters most when it actually limits concentrated influence, not just when it sounds good on paper. VOICE fits naturally into that broader conversation about who gets heard and who shapes the network.
!["Something interesting that Vitalik mentioned was that none of that [Ethereum scaling] roadmap took into account AI developments. My kind of personal hot take is they're actually gonna ship this [strawmap] faster than people think. Iterations in things like Claude, helping out with the Ethereum developer community." - Nomatic ---------- "No one's ready for Ethereum to actually ship faster than what we think. No one's ready for Ethereum to actually go into like the driver's seat of winning mode, while retaining the most important quality, which is decentralization. I mean, as software becomes more commoditized and as development cycles get faster and faster, it's gonna be easier and easier to spin up new chains. But the one thing no one can recreate is a fully decentralized smart contract chain. Ethereum has the most amount of nodes. That can't be recreated. If anyone wants to cut corners and try and create a blockchain, they need a tiny validator set. They need a centralized validator set. Everyone knows what the tradeoffs are. So Ethereum kind of has the best of both worlds where it went slow when it needed to, during regulatory overhang, and now it can go a lot faster than people think. It's gonna be post-quantum money way faster. It's gonna be money for AI agents way faster than we think. And I think it'll flippen Bitcoin faster than we think as well. And I think that needs to happen during a bull cycle." Vivek Raman, CoFounder of Etherealize](https://image.24vids.com/tw-2056713987254051036/amplify_video_thumb/2056477631541899264/img/f8lmKWBN8cjlJp5E.jpg)
![Etherealize CEO Vivek Raman: The Repricing of ETH as Money Could Start Pretty Soon "ETH is like BTC++ in that it's productive, it has yield -- which financial people love -- but also it's a store of value and used as collateral. It's basically used as money across the Ethereum economy." "It is an asymmetric bet that Ethereum will reprice from being valued like a technology company to becoming money. There is a potential 100x as that starts to happen." "It'd be wishful thinking to suggest an immediate 100x, but the repricing could start pretty soon. People now know what Bitcoin is. People obviously know what gold is. There is a need for a digital asset store of value or multiple of them. ETH is emerging more and more as that second pristine store of value asset, and we think it will become the primary one." "BlackRock just launched their staking ETF, so they're calling ETH a productive asset that's earning yield. Harvard just rotated some of their Bitcoin holdings into ETH. You're seeing the institutional allocations diversify, so it's starting now, and [Productive Money] is the thesis for it to really catch hold." Read the full report and watch the full @MilkRoad interview with Vivek Raman in the links below.](https://image.24vids.com/tw-2046755747992596802/amplify_video_thumb/2046753199680274432/img/Njpmmpb2aaVpqVm6.jpg)
![Danny Ryan on why Wall Street cares about decentralization Etherealize co-founder and a key architect behind Ethereum’s transition to proof-of-stake is asked if Wall Street institutions care about “decentralization.” “That’s not the right word,” Danny replies. “They care about counterparty risk.” He explains: “They care about — in a transaction or a particular market — who can screw me over? And if the infrastructure is decentralized, nobody can turn it off, and their transactions will execute as intended . . . [that’s an] elimination of counterparty risk. That’s the operative lens of how they view the world, and if you explain how these systems work to them — and the difference between Ethereum and alternatives — they’re like, ‘Oh yeah, we do love decentralization because we have risk models and this helps us on our risk model.’” Danny jokes: “I’ve been looking for a customer of decentralization other than the cypherpunks I hung out with for the past 8 years, and I found it on Wall Street.” As long as you speak the right language and frame it the right way, Ethereum’s decentralization is deeply important to Wall Street institutions.](https://image.24vids.com/tw-2028561871956242597/amplify_video_thumb/2028561350230753280/img/PG2EJNNldipUMRGm.jpg)
![Erik Vorhees: “ETH is still the king, and I don’t see it being dethroned" The founder of ShapeShift and Venice AI is asked if Ethereum was a “sustainable ecosystem.” He replies: “I think [Ethereum] is more than sustainable. I think it is the clear winner of the smart contract innovation. It actually wasn’t the first mover in smart contracts, but it was the first one to achieve any sort of scale with smart contracts. What’s most important about Ethereum isn’t so much the first-mover advantage as much as it is the network effect it has had since it was released.” Erik continues: “I think both Bitcoin and Ethereum have achieved a network effect that is close to unassailable. People have gotten distracted with some of these other L1s, but if you look at metrics like where the developers are and where stablecoin volumes are, these are hard to fake metrics that are very important. They’ve always been predominantly on Ethereum. It’s not even close. I’m glad that other people tried to build L1s. The process of innovation and competition is really important. But ETH is still the king, and I don’t see it being dethroned. It has had various scaling challenges — the patchwork of L2s and the UX problems between them sucks. But I have a suspicion that Base is going to end up becoming the predominant L2 on top of the predominant L1 of ETH and that vertical is going to be very powerful and very strong. So yes, I’m always bullish on ETH in the same way I’m always bullish on Bitcoin.” However, Erik warns that if Base loses its permissionlessness it “will flounder and deserves to die”: “Base has designed things very well. It has gotten a lot of adoption and very quickly became the major L2 even though it was not the first mover. I think it’s gaining a network effect pretty quickly. It obviously has a very powerful corporate ally in Coinbase, and to the degree that Coinbase does not abuse that privilege, that’s a very good privilege. Abuse here means: if Coinbase tries to exert control over base such that it loses its permissionlessness, then it will flounder and deserves to die. But Coinbase has been a very good actor in this regard, and they deserve a lot of credit for demonstrating the principles of decentralization and permissionless innovation in several parts of what they do. Obviously the centralized exchange is not that, but it’s not trying to be either.” Source: CoinDesk (Dec 2025)](https://image.24vids.com/tw-2033981697172136010/amplify_video_thumb/2033888995977961473/img/PEtL3f3arzYDJAFh.jpg)
