my thoughts on the ETH issuance reduction proposal, a video reaction thread

For the literate who don't have 30 minutes (15, if we're being honest) to watch the thread. Gabriel, feel free to comment if wrong/something's missing

thank you for this! would do it myself if not half a boomer lol

I was led to believe that the move from proof of work to proof of stake was the greatest thing to happen to Ethereum, now I am being told that too much staking is bad for Ethereum and although the chain is no where near that I am being led to believe that it is urgent. 1) What

@grok can you transcribe this I can't watch videos I'm literate

They need to cut the fluff and focus the proposal on the game theory if the main target for this proposal is centralization risk. Is it a risk for major American companies like blackrock, fidelity, bitmine, and coinbase to stake enough such that they could control the chain if they work together? Probably. Governments can strongarm companies. Would seem to be why the 50% number was chosen.

Yes, I believe we are in a crisis: if changing this now is hard later it will be impossible

💯💯

Solana a good benchmark stop the video there

First half second I thought it was Seth Rogan popping on the screen

Appreciate someone actually walking through the proposal 👏

Remember the 2022-23 bs about social slashing because Lido was going to consume ETH. Since social slashing didn't get traction, now we slash issuance to 0 to kill LSTs as a business

Excellent format!

Appreciate the format change up, good to see you sir and fine points.

Nice discussion, but your steelman missed the most salient argument. They want to reduce issuance so NUMBER GO UP. In theory, every holder can agree that number should go up, so you are powerless to slash this argument.

haha I *did* address that in one of the videos

Finally someone made issuance brainrot watchable

As a busy parent this video was an awesome way of absorbing and digesting why this EIP sucks, so thank you.

Wen lexnode podcast launch? Great voice for it lol.

“I’ll keep it crisp.” 👌🏾

I did nOT expect to see this when i opened up my timeline.

I might be missing something, but increasing the L2 tax would be a much better move for PRICE GOES UP

Love this live reaction and the intellectual dishonesty to delibrately release this 48 hours from finalizing lost of proposals to include in the next update should tell you where the intentions lie. This type of thinking only evolves when someone has been too deep into the weeds in a sylo Eth current issuance is far lower than any other major L1 in the market that should rell you everything.

Solana is voting to cut inflation by 75% now, I think though

Another leeching rent seeker

The concern about other upcoming protocol changes necessitating changes in how we incentivize protocol participants is the strongest argument I've seen against this proposal

Only thoughts should be to ignore it, as it's clearly never happening.