Three Arrows Capital's Su Zhu Discusses Hasu Academic Paradigm: Ethereum VS New Public Channel, Dragon Slayer Has Become A Giant

One of the most powerful cryptocurrencies in the world, Su Zhu (now known as Zhu Su on Twitter), founder of Three Arrows Capital, now has an additional ID and has been named one of 10 best "bad guys" in the world by Cryptobriefing. It all comes down to a previous argument between Su Zhu and Synthetix creator Kain Warwick over the new Ethereum \ L2 \ chain. Almost everyone who knows KOL has joined here and gradually evolved from personal combat. It is a public channel.

Su Zhu, an Ethereum and L2 skeptic, immediately took to the other side of the Ethereum community. According to Qianfu, what really is Su Zhu's heart and why has he gone from an Ethereum fan to disbelief? New public channel ??

This interview will give you the answers. This sentence was edited by the "Ethereum vs. Alt L1s" audio podcast during a discussion between Paradigm partners Hasu and Su Zhu. They both meet from different angles. You and I are very happy.

The content of this article was written and edited by the TechFlow community to volunteer 0xz, in honor of 0xz ancestor and grandfather Ruisby.

Xu state:

1. Early Bitcoin and Ethereum players like me were more likely to make the mistake of being a bad guy.

2. Ethereum's current situation is similar to Bitcoin's in 2017. Although new user is the best public channel, it is not a choice. For public channels, getting new users is essential, and Ethereum cannot do that at this time.

3. In fact, the main reason people are now entering crypto is to benefit from the early holders of Bitcoin and Ethereum. Thus, they will often join the new channel to the public. But now Bitcoin and Ethereum are more important to them. It's like a coin philosophy.

4. If the oil prices go up again, nobody can protect the chain in the end, the prices go down and people don't use it. This negative impact can also be seen with nft, where the value of nft continues, so no one will buy nft and people shouldn't use it.

5. I think Ethereum today knows less about its users and developers than ever before. And while the Ethereum community now has the same type of arrogance as the Bitcoin community back then, that arrogance will be present in every community created. Because when people become billionaires, their ideas often don't change, but how to live.

6. Ethereum and Bitcoin are the representatives of the old financial system, everyone knows that just having these two symbols doesn't make you really rich, and only adults have these symbols. However, with so many new tokens people can get rich if they sign up.

7. Now Ethereum has become a money-driven public channel due to its superior performance and remains the only target capable of competing with Bitcoin in terms of cost savings. However, the main difference with Bitcoin is that it has a stable financial model as well as a security model.

8. A new chain starts from scratch. No technical fees and no need to think about how to profit from Bitcoin like Ethereum. The only thing they have to do is attract new users to grow faster.

9. When Ethereum lost its new development, all that was left of Ethereum was EVM, and the L2 path did not live up to its name.

10. One of the most important symbols for Web2 marketers when entering the crypto industry is the growth rate of the network if you have ever invested in Ethereum why it seems so sim ? If Ethereum is waiting to develop on its own, Ethereum sounds like Bitcoin, so you can think about protection and choose to invest in new chains.

11. Although today many new chains cannot be separated, we have to understand that Ethereum is still considered unaffected by some of the major ones.

12. My biggest concern is that when the cryptocurrency game ends, people like me won't be able to decide the game. Everything.

13. They don't see the same thing, new users don't have the patience or need to wait for Ethereum to really succeed. Also, for jobs like Starkware, it doesn't integrate with Ethereum, it's only for itself. I'm not. Rent came to the conclusion that the whole of Layer 2 did not aim to pay rent to Ethereum and wanted to gradually move to Layer 1.

14. In a previous community discussion, someone asked why the Ethereum Foundation isn't worried about Ethereum not being networked. The Ethereum folks have said they're waiting for a big enough zk-rollup. zk-rollup to resolve this issue. The problem, however, is that zk-rollup is not limited to Ethereum and may be available on public channels.

15. Everyone should have an open mind, but in today's Ethereum community, Ethereum extremists are very active and very dangerous.

16. Dragon Slayer Must Be Big the challenges of latecomers and regular audiences. late.

17. When I talk to Arthur and talk about LUNA my attitude is that LUNA was not created by the Ethereum chain and is not worth watching. However, the facts are inconsistent, as a first step we must recognize that Ethereum is the only smart public contract, and make the unfair decision to recognize that there are exceptions. sees the blind man and gives him courage.

18. However, the current attitude of Ethereum extremists towards other public channels does not differ from that of Ethereum Bitcoin extremists at the start of the bear market.

19. Don't ask me to sell Ethereum or persuade me to buy Ether just to point out the big differences between Ethereum and Ethereum today.

Hasu:

1. The strategies and practices of Bitcoin extremists prevent Bitcoin from turning into a better network and better investment platform.

2. This new string will at some point be understood as the middle data, but that also means that it will be from the beginning, so the worst will not be the fate of this new string. Good things happen because they have a similar path to Ethereum. As with the old Ethereum method, very fine data can be fragmented.

3. Currently, much of the growth of the new public channel has been supported by high takeovers. It is not a permanent solution. Also, even if you can fix it, you will experience similar issues with Ethereum. I don't think they can. do better

4. I firmly believe that the future is a world where many chains and chains are important for the future. However, you may be affected by the application. The program is the only interface people can use to touch the blockchain in the future. Users do not have the right to decide which channel to use, only the manufacturer has the right to decide in this case. In addition, existing strings will be subdivided and the included data will be different. After separation, the steps are separated because you can create a good process for faster completion.

text:

Hasu: Suzhu, congratulations on achieving the title of Crypto Villain in 2021. Your article recently reached number one in Reading Volume. Very happy. Do you have something to say to your fans?

Suzhu: It's very interesting. For many years my photo was published in the media. Around 2019, I was an Ethereum expert and Bitcoin enthusiast. As the industry has evolved over the past couple of years, my fan base has grown. We give it 20 times and slowly enter another area.

Now he likes to analyze, mostly to make predictions, but now he's a bad guy for negative BTC and ETH comments that others don't like.

For example, we now think Ethereum's GAS is a big deal, but early Ethereum entrants believed Ethereum GAS high should be true, eternal, and sacred.

He then posted a tweet against Ethereum GAS, which received 15,000 likes and indicated that many users, especially new users, agreed with this view, which also means that this new user should not. not use cryptocurrency. These are only the old men of the community, but it must be everyone.

This issue can be resolved with further extension. So, is Ethereum the heart of the pure truth of GAS? What is the sacred truth in the crypto industry?

Ethereum and Bitcoin have a lot in common. First, Layer 1 needs to be as fair as possible, and then it needs to be extended by Layer 2, like Bitcoin's Lightning Network and Ethereum's Zk-roll and Optimism Rollup. Public channel infrastructure as well as a good network and a good public channel community. So I can't say that the true sanctity of high GAS claimed by Ethereum veterans is wrong. .

Keep in mind that in the bear market, organizations like Multicoin have a different take on cryptocurrencies than most investment and silver companies at the time. With public channels accessible to millions of people at the same time, like Solana, we have invested in a lot of things that seemed incomprehensible at the time, but we are seeing huge gains in 2021. Looking at the market last year , compared to April, the current price of Bitcoin and Ethereum is a similar start, but tests of public chains such as SOL and AVAX have increased several times.

So last year I read a few articles to identify the issues new businesses were facing, and finally I was surprised at the uncertainty. There is a huge difference between how it works and how it works. The obvious data is that over half of the users who currently use Metamask only use BSC. It shows that people are ready to participate in new networks because they can benefit from network improvement for the first time. Bitcoin / Ethereum players like me are prone to the mistake of becoming a Bitcoin / Ethereum expert.

As a member of the Ethereum community, I agree that ETH is an asset that we need to continue to grow, and we believe that Bitcoin and Ethereum are the best value in cryptocurrency. . . . However, this is not very effective in introducing new users to the network. Thus, Ethereum's market share has gradually reached Bitcoin over the past year. At the same time, the market value of the new chain born to the public is also the reason it is venturing into Ethereum.

In terms of location, Ethereum's current location is no higher than it was 17 years ago and has not been visited twice. We have already checked and the reason is that the whales will choose Ethereum. Whales have a lot of Ethereum because of their good security and stability, but at the same time, it means new users won't be able to access level 2 or otherwise. new public channels.

Ethereum's current situation is similar to Bitcoin's in 2017. This means new users don't have to choose even if they are the best public channel. Without new users, we don't know if Ethereum will eventually be able to defeat other public channels. There is no doubt that consumers will pay rent for their public options, but from a business logic perspective, consumers are reluctant to pay too much rent. I think Ethereum can compete with Bitcoin because Bitcoin has a lot of differences. But if Ethereum is a network, I don't think most people will be able to use it. Because it doesn't need a big intervention like Ethereum.

Over half of Metamask users use BSC which is good for me as most users don't owe sharing and pay for it. However, that doesn't mean they like this network, it does mean that new users now want to access the new audience channel as early as possible to take the first few hours of attribution.

It really fits with the utopian spirit of cryptography. For example, you are a veteran of Ethereum or Bitcoin and have a lot of Ethereum or Bitcoin on hand, of course you want others to come and buy your coins. ; However, if you are a new user, you will usually go for results that are not very diverse and not very old.

The performance of this bull market is very different from the prediction of many important veterans advantages, for example, many believe that Bitcoin will exceed $ 100,000 and Ethereum will exceed $ 6,000. But this is not true. Since April, SOL has increased eight times and AVAX six times.

In fact, the main reason people are now getting into crypto is that they want to benefit from the early holders of Bitcoin and Ethereum, so they can join the new chain. Bitcoin and Ethereum are now philosophical coins. The average person with $ 1,000 or $ 10,000 will not touch the base of the public channel, hear about bitcoin from someone else, and only buy it from a Coinbase trading account. , but the operation of the chain seems to be heard and understood. Cooperation.

However, the holders of BSC, SOL and AVAX tokens are different, these tokens have attracted a lot of new users and most of the token holders have also made similar products, so the number of new users is aimed at this public channel. growing rapidly, with amazement every month.

Some people think the new chain of user growth is from the Ponzi scheme, but it is actually Ethereum's Ponzi scheme in 2019-2020. Is it true?

The current Ethereum upgrade is a bit of a letdown. I think Ethereum has issues with the developer i.e. Ethereum veterans are part of most companies. They also prove the market, but at the end of the day, they don't win the market. I still think there is a good opportunity for Ethereum to earn and trade with Bitcoin, but not now. Ethereum cannot do this at this time because getting new users is the key to the public channel.

Multicoin has pointed out the downsides of the network over the last cycle, and it's happening now. If the prices of oil keep rising, no one can interpret the chain, the prices will drop and people should stop using it. . This negative impact can also be seen with NFTs, where the cost of NFTs continues, eventually no one is buying them and people should not be using them.

I think there will be more options for the public in the future because Ethereum has good times and bads, and it has yet to be measured against customer needs. And Ethereum has become a money-driven public channel because of its excellence, and I think it's still the only one that can compete with Bitcoin in terms of value savings. It is very different from Bitcoin in that it has a permanent inflation pattern with a stable pattern.

The new public channel like BSC has many developers. Because there are so many users and so many new projects this year started from the new channel to the public.

Many Ethereum owners are now thinking negative thoughts. In other words, I am very rich. So new users should understand why I am getting rich and follow the path I have come. And in fact, having Lord Matic is not the best answer. Because when new users ask why they chose to own Matic instead of publicly owning the new channel, we can't give you the answer.

Ethereum has worked very hard, EVM allows developers to quickly adapt applications to the needs of their users. If it was last April, Ethereum would have benefited from more than one EVM because it could bring Ether to another bridge and be usable. as a guarantee. But the efficiency of doing this is lower than using other direct strings, and I think the efficiency is very important because high performance can attract a lot of people. . So, you can see that the Ethereum challenge project has cost in the past in terms of dollars.

The early participants of the Ethereum community tried to use Ethereum as a network, but as the network grew, the early participants had more tokens and, as a result, got richer and lowered their motivation to create. . Moreover, most of the people choose the cross chain without having new users.

A lot of Ethereum developers I know are connection experts. It's a very good channel. I asked why he chose Crosschain. They think the necklace was cut because I was so rich. The price is too low for me.

In fact, the current Ethereum project is not the most recent, but many Ethereum projects, including the airdrop ecosystem, have followed LUNA's lead.

I think the Ethereum community now has some of the same arrogance as the Bitcoin community back then. In fact, because of the problem maker, this arrogance will be present in all design communities.

The reason that when people become billionaires their thinking is usually not how they are going to change, but how they are going to keep it. Now, new public campaigns often do better. Because developers don't have the money yet, so they have to manage their efforts to innovate and create services that millions of people use at the same time.

Hasu: I think I made a mistake like some. As I warned a few months ago, the strategies and practices of Bitcoin extremists do not improve Bitcoin. Better network and investment.

Suzhu: We recognize that the issues we talked about in the past are very important and now the most important issue is investment. If we can see what Ethereum is right now and know they're not doing well, we can complete the list.

This way, we can see many differences, and the biggest difference is that these are considered to work on Ethereum.

For example, we invested in a project called Monaco. Founders love Ethereum followers. There is no cost to help develop the project and help provide all GAS funding for all users of the NFT project. It was very rare that it was finally decided to release the tokens between BSC and AVAX.

For lovers of alternating current, he understood this a long time ago, so that users only pay a small price for gas to have a good experience when interacting with Phatom and Solana. AVAX also works for this. It's not hard to see Ethereum's current focus on other newer chains slowly fade away.

The fact that culture matters is the idea that all engaged communities should communicate with new users and new developers.

Starkware is an interesting example, and as the dark web grows, the question arises as to whether you should pay rent on Ethereum and the rest of the public channel.

The answer is obviously no, but it gives them another impression that people will continue to use technology. You go to the older one and pay rent to continue using the skills. This view is now very popular in the Ethereum community. Part of the reason is that EIP1559 has been proven. EIP1559 brought many benefits to maintaining Ethereum, and EIP1559 has been released. for other chains like BSC.

However, since the current concept of the Ethereum community was adopted by EIP1559, I believe the competition Ethereum is currently facing has been even greater. The main reasons are that the current state of Ethereum is losing enough network resources, not attracting enough new users, and lacking in performance.

I told a lot of people in the Ethereum community at the start of the year and they said that the bullish competition can be huge and can be accomplished in one fell swoop and will definitely win the whole store.

But now I see it takes 7-8 days to build a bridge, and there's not much that there's a lot that manufacturers can do. What I can see now is that there is a big difference between Ethereum's goals and objectives and its actual implementation.

Compared to Bitcoin, Ethereum is now doing better. However, it also spread a lot of skepticism in the community, with the biggest knocking down Bitcoin. For Ethereum to win Bitcoin, Ethereum has to become more important than Bitcoin, and I think there is still a long way to go.

And when two pieces are reversed, it is more likely that the other will advance.

This situation is similar to the bigger cryptocurrency payments Ethereum and Bitcoin are two representatives of the old financial instruments, we all know that holding these two symbols doesn't make people really rich. new. , people can get rich if they participate.

Hasu: I understand why you say it's a cultural issue. It's really helpful, but what I'm trying to say is that culture doesn't make as much sense as an easy-to-make argument. What the chain does is include some fairness of blockchain-based trade or specialist advice to swipe to get better performance and go through the public chain. Actually, it is not a real measurement and you may very well change for a while, but after a while you will encounter the same problem. That is, the ability to reach the maximum. AVAX, BSC and SOL are expected to select some retired users. This new public channel may at some point be understood as a central repository, but it also means that it could have been so from the start.

At worst, there will be nothing in this new chain. Instead, it has a similar approach to Ethereum (the old way), making it a very fragmented database and may be similar to Ethereum, but that also means it will be a higher battery model.

Suzhu: That's what we agreed to. The best method for all public channels may be similar, but the question is which channel tried to be fair to using that card.

If Ethereum were just trying to outperform Bitcoin, I think it wouldn't work well.

The other public channel starts from zero. The only thing they have to do is attract new users. They don't have to think about how to profit from Bitcoin.

As you can see, oil prices have fallen since AVax's recent overhaul. Assuming Ethereum and AVAX use the same path, who will use it more and provide better, faster, and cheaper services to new users and developers? I think that's the point.

There has never been a saying in the world that if there is a competitor in the same field, the one who starts with a big win comes first. In fact, those who start late are more likely to win.

Taking the operating system as an example, BlackBerry was born before IOS and Android, and BlackBerry also owned the mobile operating system for a while, but as a result, the market was dominated by IOS and Android.

Primary immigration is often limited by a number of restrictions, for example old technology limits the direction of further development, called technical costs. However, latecomers have no technical merit and have a completely different mindset, so they don't have to work for existing users and want to get more new users.

I think Bitcoin and Ethereum are better than other tokens in terms of value because I am a firm believer in the concept of a cryptocurrency value market. However, looking at the implementation of the platform and knowing which connections are best for attracting new users to the crypto space, I don't think Bitcoin and Ethereum can really do that.

As a crypto value retailer, we strongly believe that the value of Bitcoin will increase further because Bitcoin is worth investing.

But more and more people like the idea of ​​zamani. In the near future, BNB will have hundreds of millions of users, even with data in the middle.

Bitcoin holders should encourage new users to buy Bitcoin as a valuable commodity instead of buying them in new channels that benefit people.

Therefore, we need to think about how to attract new users to the crypto site and deal with cryptocurrencies, rather than assuming that the internal users of new users are not. It is also one of the biggest issues that is causing negative changes in the prices of cryptocurrencies.

Hasu: Yes, for new users, if you are the only user and you only have $ 1, you should use BSC, SOL, AVAX, not Ethereum. This is because the first level of Ethereum is not required as it will not measure for the average user.

So if we fast for two years, we can see that Ethereum does not have regular users and that there are whales in the first phase of Ethereum. Interaction with the end user can be achieved through rollups. Rollup can achieve reliability with export files by sending the certificate to the first floor and then modifying the file such as dydx.

I think the above model is viable for every layer of public channels. You could say that it gets bigger and bigger as it attracts new users, but I also said that perks like this won't make you useful in the long run. Because all new channels are different, new public channels are technically new and you don't have to do anything else, just give freebies to attract new users. He has many gifts.

This is why I hesitate to join the new channel with the public. Because the current development model of a new public channel is not a reliable way to develop the channel.

However, Ethereum is a stable and high impact global chain with a distributed process. If we start with the Chinese first floor trust, I think Ethereum is unique. And while I like all the public channels that have developed the same structure as Ethereum, I think the other public channels are myopic.

Suzhu: But I think you don't have a goal attitude. The above is very good. You must be XXX. recognize XXX. So you only enjoy XXX. Above are some negative comments on early SOL. However, the point is that SOL has attracted a lot of attention from many developers and applications.

Additionally, I would like to point out that over 15 of the last 20 apps we've invested in are non-Ethereum apps. How many people are using the program.

For a lot of money, even those who oppose SOL entered a new channel and tried to invest. So I want you to move away from the point of view of thought and move more to the point of view.

We now know that the crypto industry's growth model is more pragmatic. This means that you have to think from the point of view of the end user, as well as your users. So I think the Ethereum community should have more respect for the same users, but it doesn't appear to be.

We can say that this is not necessary. After all, Ethereum is developing in other ways in terms of strengths. But take the Bitcoin Lightning Network as an example, you can do whatever you want, but Bitcoin Network loses its network value.

The Ethereum network is challenged by the new public channel, as people can benefit from buying Bitcoin and Ethereum as a value retailer, but the outlook is not good to compete for the Ethereum network. It is important to know that the Ethereum network will not update its connections in the short term.

And the makers of other public channels started to improve. Because we have selected the new channel for the audience, we want to reach more users. So Luna is improving well now.

This fact is very different from the culture of Ethereum because Ethereum can no longer leave room for developers.

You may recall in an interview with AC last March that it was said that if you are an evm developer today you should head over to BSC immediately.

I believe that Quxin Public Chain is the real future from the point of view of users and developers. Years ago I really miss the Defy era, I miss him so much, and I hope he can do better.

But in the future, I think the error with Bitcoin extremists will be back with Ethereum extremists. However, the issues that arise with Ethereum are not significant for Bitcoin. Because we will have nothing to do with Bitcoin, but we will have to work with Ethereum.

It's a dangerous sign when developers turn to other better public channels. Because one cannot say that Ethereum could be more and better new in the future.

When Ethereum abandoned the new development, all that was left of Ethereum was EVM, and for the second time, I didn't think the solution depended on its name.

Hasu: I think Vitalik says he has 5 cents on Bitcoin, which shows that he still wants to improve Ethereum.

Suzhu: I think I have more Ethereum than anyone I know of, but the above is very dangerous for Ethereum.

Hasu: But I think Vitalik is a very smart person.

When BCH failed, requiring some determination to be sacrificed to complete the network well, vitalik did the same, but it did not succeed. But now I understand that this statement is short and will not be fulfilled. Now that I've seen these new chains do the same, I don't think this new chain will ever be complete. They will fall like BCH and Vitalik.

This is why I see the problem from a visual point of view.

From a technical standpoint, utilities have only limited capacity, and when fuel prices rise further, without a credible map, the story surrounding this chain will not flourish and become dead.

But for me, I've seen many times what the new channels do publicly, and they've never been done before, and they won't.

Suzhu: I'll be the shortest and strongest rebuttal.

Looking at the network growth of other networks, think that you are a bottleneck and that you are approaching the growing problem in a way that is not necessary for the Ethereum community.

Although Ethereum's measurement strategy is still unrecognized in the eyes of the Bitcoin community. However, I think now the public competition is better for the market, the point is that these groups are more motivated to reach out to users, so I predict all first level operations will change.

Speak to Web2 vendors to confirm this prediction is correct.

One of the most important symbols for Web2 marketers when it comes to crypto sites is network growth. If you've ever invested in Ethereum, why is this happening? If Ethereum were to wait to develop on its own, Ethereum would look like Bitcoin, so I think it needs protection and would choose to invest in a new public chain.

Although there are now many new state-owned enterprises can not complete the distribution. However, we have to understand that even now Ethereum is considered unaffected by very tall people.

Best of all, I developed this view on the bear market and found that many public first layer channels like DOT, KSM, AVAX, NEAR are worthless. As with Ethereum's rapid growth, this year has also been a gradual one.

Moreover, the interaction between the real application and the blockchain is still at level 0. For example, XTZ recently partnered with Ubisoft to give Ubisoft users 1000w wallets and will release some of the tokens it contains.

New channels may sacrifice some of the distribution, but there is health in getting more involved in the bigger world. From this point of view, Ethereum's control over the public chain is indeed troubled. If Ethereum can find its way to 2025 ahead of time, its chances are high and it will be able to counter Bitcoin's market value.

In today's world there are more and more imitators of Bitcoin or Ethereum, their results are very high, and I do not agree, but let us point out this phenomenon.

Hasu: Yes, Ethereum has also seen tremendous growth in its infants. In the past, we thought Ethereum was more viable to keep costs higher than Bitcoin, but over the last few years of development we've seen some improvements. Ethereum's metrics have outperformed Bitcoin, but over time Bitcoin has proven to be viable for storing value. Are the new chain challenges I'm talking about right now the same as when Ethereum first challenged Bitcoin? I don't think they will be successful.

Suzhu: The growth of this new chain has been faster than that of Bitcoin and Ethereum, and may be faster due to lack of value. Bitcoin and Ethereum are both extremely valuable.

Additionally, once these new chains are close to ending their point of sale, Ethereum will have to go months without a point of sale by now. Even if Ethereum ends its POS, it is important not to overdo it, as it is expected that there will be a lot of problems at this point.

Another very important factor is the meteorological community. The first place in the community is very easy to get people interested in participating. However, Ethereum now has huge social costs and no community thinking has started.

Ethereum has a very good community in 2019. For example, in 2019 I was actively involved with ENS and signed up to use it, and at the end of 2020, like some products, the experience was very good. Finally, around 2,000 to 5,000 people took part in this project.

But now, due to the high oil content, the growth of Ethereum users on the first floor is starting to stall.

I think Ethereum would be more profitable with the competition, but my disagreement is that other SOEs will have more growth than that if they think the competition will be really successful. There is no time to wait for the tournament to become successful, and you need to get involved in the crypto space.

For me, the rate of increase in user count and market share of other public channels will be faster than Ethereum.

In terms of income, SOL has been multiplied by 1000 and we also want to count the next question. What should be part of Ethereum's market value?

But when it comes to the number of consumers, when it comes to the innovative work of manufacturers, especially when it comes to the number of users, manufacturers who want to create projects for thousands of dollars, I think about the cost of marketing. SOL is constantly expanding and it makes even more sense to increase the market value of other public companies such as AVAX. And with respect to the first layer of Ethereum, the developers are ready to send to the second layer.

The bottom line is that Ethereum has really lost its network value, and it's hard to attract new developers to the Ethereum layer to improve it, and admit it's a bit late. All ETH buy SOL, AVAX.

I know a lot of young people who make crypto a little too much money a lot of people have 50SOL or AVAX, but very little Ethereum. These people don't know why holding Ethereum and Bitcoin is good. Bitcoin and Bitcoin on the better sense and them. think the purchase of this new channel will be more rewarding.

This is something I have to remember myself. Youth is very important. Each step of encryption will bring in new people and I admire these young people. But your opinion is very different from mine, and you think they should follow our course.

Hasu: I don't think so. We are also seeing that new entrants entering the market will not buy Bitcoin and Ethereum. But in the long run, that's not a good way for newcomers to do it.

New hires who have been employed for less than six months clearly have problems with the certification process, which is, at best, overestimating new ones and underestimating existing ones.

I consider myself to be a pragmatist, far from being an idealist. As Ethereum approaches, adding the integration will improve the user experience and experience. This is the only conclusion one can draw from colorless pragmatism.

Suzhu: For someone like me who has invested a lot in apps, the strongest app is if it's not based on Ethereum.

If you shared your findings with me a year ago, I totally agree. But now things are different. Now I am sad for Ethereum. The current improvements are not what I have seen before.

My biggest concern is that in the end game of cryptocurrency people like me won't be able to decide on the end game. Because there are so many strings in the middle, some say they don't need the encryption, they just need the token.

They think tokens are important because they can support anyone and remove restrictions from the blockchain. It will be difficult to deliver new tokens unless the existing Ethereum can generate some expansion to attract enough new users. If there is not enough encouragement, new players can leave Ether.

The field of crypto itself is a level playing field, there is no doubt that the market plays a part, new users play a part and new developers play a part.

Therefore, the new path for the public channel is a predictor of the future development of crypto, and I believe the industry will continue to improve as well.

Haas: I totally agree.

Your thinking can be simplified as follows: if we go faster in the next 5 years, people won't have to manage channels anymore, and now they will have to manage channels through applications like Web2. They're all decentralized, but they don't really know and don't really want to know which app chain is working.

Users have no preference for public channels and it's up to the developer to decide which channel can win. If there was a public channel that could attract better manufacturers and support it in the long run, I would choose it.

But unfortunately we don't see such public channels now. And I don't think the current growth of the new public channel will continue. The important thing is that the rapid growth of data is not by the quality of the chain itself, but by the great revival.

Suzhu: Your subject's biggest challenge is the myopic awakening you've been talking about for months. This may prove that our assumptions from last year were incorrect. And your question should be, when are our assumptions a year ago or true in the future.

Most members of the Ethereum community think it will be fair when Ethereum has two more layers that can improve user experience.

But they looked alike. New users don't have to wait or have the patience to wait for Ethereum to truly complete.

Another problem is that for services like Starkware they are not affiliated with Ethereum, they are only for themselves and they do not have a rental plan on Ethereum. And I'm guessing not every Tier 2 developer intends to pay rent on Ethereum, but they would gradually upgrade to Tier 1.

With or without assistance, the process operates in an environment that provides the best experience for your application. With a well executed process and user added flywheels these chains make them extremely strong.

One thing is the BSC, you can see how much the BSC has increased this year. BSC's technology roadmap appeals to most users, even if it is not very good.

This is why every new GameFi project has started from BSC because it has users.

We believe that Ethereum now has less understanding of its users and developers than ever before. Of course I guarantee users will come back or Ethereum 2 can be done, but I don't think it's very easy.

Hasu: If the manufacturers are considering choosing the cheapest channel for improvement and want to make the user experience as reliable as possible, I see it is the best one for The developer chose Ethereum Layer 2 to build, like dydx . In a dydx environment the price is really cheap and on average cheaper than SOL. We will see more of these apps in the future.

Suzhu: dydx itself is a very good application. The examples you provide are not relevant.

According to Antonio, they started developing this application on Starkware and eventually went to Ethereum.

And there doesn't appear to be any Ethereum OG rollup or zk-rollup at this time. Ethereum Funds funded the project from the start, but had no idea.

In a previous community chat, someone asked why the Ethereum Foundation isn't concerned about Ethereum interfering with the network. Ethereum users are waiting for zk-rollup to be large enough for zk-rollup to resolve this issue. The problem, however, is that zk-rollup is not limited to Ethereum and may be available on public channels.

Hasu: What I find interesting is that there are some facts that can support yours and mine at the same time.

Suzhu: Because your thoughts and feelings are supporting you. As you saw about Bitcoin, people who leave Ethereum will eventually come back to Ethereum.

But what I mean is I'm not sure what the future holds. As other new channels have appeared with more users and more new apps, we don't know if users will return to Ethereum.

After all, having a future is more dangerous than having a future with endless possibilities.

Hasu: I should clarify that I agree with you. I don't think anything should go back to Ethereum.

I firmly believe that the future consists of many world channels and cut chains that are very important for the future. The app is the only interface that people can touch to the blockchain in the future, the user does not have the right to decide which channel to use, only the developer has the right to decide in this case. Public channels are separate and included data is different. This is because you can create a perfect process for completion soon after separation.

Also, I don't think Ethereum realizes the importance of fallout. They think Ethereum can be used as a reliable data source for storage, but I don't think so. Therefore, I agree that Ethereum's performance will gradually decrease and other good 1 or 2 process will become more efficient. However, in this regard, the situation for other public channels seems to be worse, so we have been cautious about the advantages of Ethereum.

Soju: Yeah. I agree with all of your previous posts, but your latest review sounds a bit like the original Bitcoin extremist.

Almost half of the tweets at the time were about how Ethereum was centralized. During the last bear market, Ethereum almost died and people agreed that Ethereum had entered the vortex of death.

However, at that time there were a lot of strong Ethereum people, and there was a good community culture. They believe they want to protect the assets they deem valuable. This is one of the reasons I like to trade on Ethereum. at this moment.

At the time, Ethereum had over $ 100 in cash which was really undervalued as a public channel.

Hasu: But back then, people were losing most of their money.

Suzhu: However, the neighbors are still working hard to create it. I have attended all of the Ethereum gatherings that I can attend in Southeast Asia. I see that I am at a crossroads in the history of Ethereum.

But now I'm afraid to see the same energy in the new channels.

There is only one thing in this world. When you get rich, all is well.

As Bitcoin holders get richer, we hope the latecomers learn from the practice and some become Bitcoin extremists. I think there are people in the Ethereum community who are also very Ethereum extremists.

We need to realize that not everyone in the Ethereum community is right, and if the current security culture continues, the end of Ethereum will be like Bitcoin.

I think everyone should have an open mind. Now the Ethereum extremists in the Ethereum community are active and dangerous.

Hasu: I totally agree. I also see what you say. Even though we don't engage with these models, especially the expansion of Ethereum villains, we generally ignore them. The good news, however, is that the Ethereum cultural community is now more open than Bitcoin.

Suzhu: Really, the culture of the Bitcoin community has become more and more open now. Recently chatting with our best friend LEO he added a letter from the Bitcoin community and wanted to make Defi possible. He says there is a lot of renewal.

Later, chatting with other members of the bitcoin community, he asked to help out the bitcoin created by nfts, but was ultimately unsuccessful, but he found the nfts very interesting and said he was a secret billionaire. .

The current culture of the Bitcoin community seems to be slowly coming back, which is good. They say they are not nft and they know it, but they really want to try the right one so fast. The current trend of increasing criminals in the Ethereum community is actually forcing new users to access other public channels.

It can be a recurrence of human progress. Dragon Slayer will always be a great dragon. When the pioneer gets rich, there will be endless competition, asking newcomers to follow the rules. A challenge for latecomers, because latecomers are always different.

Often times, if the community moves too fast, you run the risk of not getting in touch with the market that you really need. An example of no rest is optimism. They want to be entrepreneurs and make a difference, which is great.

So, I think there is still a good way for Ethereum to be cut. Basically, the members of the Ethereum community are very different people and there are a lot of different people working. However, I think the current community has ignored new user development and there is no other negative theme.

Hasu: I heard you felt at least one minor error when you criticize Ethereum first. Hahaha.

Suzhu: We talked about SNX before, it was the first project challenge we told the audience about, and he introduced SNX to people. But the current situation is that SNX is not like I said at the start, let alone LUNA. Truly like LUNA, only LUNA has better performance.

Why is this happening?

I have also had a lot of Luna in the past, but I have sold a lot of them and replaced them with other products, but there is no clear answer. But at least it proved that my choice was wrong, and I also made the wrong choice to seduce people.

I remember talking about LUNA when talking to Arthur. The attitude at the time is that LUNA was not created by the Ethereum chain and was not worth listening to. However, the difference is clear. The market value of LUNA is greater than the combined market value of all challenge products.

So we guarantee you have a blind eye when looking at things. The main reason for this blind spot is that we made this mistake thinking that Ethereum is just a smart public contract. Looking back, it was because of this situation that I decided not to buy SNX.

This is why everyone except Ethereum extremists now loves bullish stacks.

Now, what is the difference between the attitude of Ethereum extremists towards other public channels and the attitude of Ethereum Bitcoin extremists in the first bear market? There is no difference. Hope people can think about it.

There is a big difference between whether Ethereum can be a good legacy or a good future partnership, the two very different.

The question arises as to whether Ethereum's key role in the smart contract will continue in the future. As for the assets, I don't know if they will be better than Bitcoin in the future, but since they generally have a large consensus and a large investment, their performance improving in the future will not be like the same. most of the results.

All I want is not to get people to sell ether or to get people to buy ether. Explain what Ethereum is. And now, what is Ethereum? There is a big difference between them.

Hasu: We all love crypto, we've been in crypto for a long time, but there are still big differences in how we're going to change. But I think it's also the happiest place in the crypto world, the smartest place in the world, and the most interactive place in the world. Thank you very much for our conversation today. Thank you.