Conversation

SBF
@SBF_FTX
1) Why do we have to be so tribal? twitter.com/elonmusk/statu Sometimes
@elonmusk
is wrong, sometimes he's right. This time I think he's mostly right.
Quote Tweet
Elon Musk
@elonmusk
Replying to @MattWallace888
BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high. There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.
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SBF
@SBF_FTX
2) I mean, the reliance on DOGE is a bit odd--it's not exactly what I'd choose for a high-throughput L1. But fundamentally, he's got a decent point here: trying to patch slow L1's with a fast L2 only sorta addresses the problems.
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SBF
@SBF_FTX
3) A few months ago, we applauded everything
@elonmusk
wrote, even when it was just memes. Now we decry it, even when he's making a good point.
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ZippiZ
@ZippiZ6
Replying to
@SBF_FTX
@SBF_Alameda
and
@elonmusk
You know why Sam. Replace Elon Musk with Craig Wright in this context. Would you still feel the same? Even if he is right about exchanges. The solution he is suggesting is a lazy one and it seriously compromises the key aspect of this entire industry; decentralisation.
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blk014 ⚡
@blk014
Replying to
@SBF_FTX
@SBF_Alameda
and
@elonmusk
Because we had all these discussions and an entire #Bitcoin civil war FIVE YEARS AGO about this shit. It was settled. The Elon Musk side of now was called Bitcoin Cash (and its further forks). If you like that, go there. They did it! (whatever!). End of story.
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blk014 ⚡
@blk014
Replying to
@blk014
@SBF_Alameda
and
@elonmusk
#Bitcoin L1 chose to be primarily a Store of Value that comes with a very robust but expensive payment system. L2 is for all other features that shall never ever compromise the SoV properties. L2 protocols have fast payments, smart contracts, confidential transactions. Use them!
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