EDIT: People, I’m talking about building on top of Ethereum not building Ethereum itself. Also, note I said “beyond security”! I’m talking about people waiting for security unrelated standards to finalize for their dApps.
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You're thinking like a startup engineer with 3-month-horizon You need to think like a monetary architect with a 1000-year horizon This is the key difference. Money is about trust, security, anxiety-reduction. NOT moving fast and breaking things. Value Accrual = Money First
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This tweet was about building on top of Ethereum, not building Ethereum itself. I still think I disagree with this 1000 year time horizon thing (trust is important but not the only variable) but I’ll have to write a blog post for that (partially to help clarify my own thinking)
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To build a robust *Money* trust and perceived reliability are of utmost, predominant importance. That’s bare minimum. Why am I so obsessed with *Money*? Because it’s the only thing in this whole space that will *capture value*, not just create utility
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No. Just... No. You're talking about a borderless and self-sovereign currency. Don't rush proposals because you think it "captures" more value. Finalize proposals when it's ready, like Bitcoin. Bitcoin is not built on debt -- it was built as a reaction to it.
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Err .. ETH is not a starup.. remember the DAO hack? Or the parity wallet screwups? There’s a lot of money riding on that tech (still). Maybe the lightning network that started with small amounts is a good example to emulate?
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IIUC you're saying ETH devs need to ship sooner. Tech debt is one way. Scope reduction is probably a better one.
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And software engineers are the only engineers with no faith in the reliability of their technology.
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And with good reason, because their technology is in fact not reliable. It’s just that the consequences of it don’t kill people (usually).
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YOLO DAO
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Agreed, when the definition of success is exiting relatively fast. If it’s building a lasting company, you better care more about tech debt than the average does.
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you might be right in many cases, but projects like the DAO could have done with a bit less tech debt
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Ridiculous! You don't ship half backed financial application, unless you want peoples to lose a lot of money!
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High ETH prices really threw a wrench in the works. Ethereum was this move fast platform, and all that money brought attention but a lot of unneeded risk when what I think should be #1 priority is speed of innovation.
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I agree if the debt can be paid. But on ETH contracts are immutable so it can never be paid or it’s very expensive. Look at the parity contract issue, the DAO, etc.
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That’s how you lose people’s money.
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Everyone accumulates tech debt, it’s only a matter of how much. Everyone does it regardless
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Successful startups are perceiving their debt relative to their success, it’s an after effect analysis. Not a prediction.
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