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The Battle for Interest Rates: Tezos (XTZ) vs Ethereum (ETH2)Been writing a few long articles lately but the tl;dr of it is that now that interest rates are going up, the asset speculation market (real estate, stocks, venture capital, crypto/NFTs) is largely over and money will start to flow into financial products that provide more "reliable" returns - mainly interest rates. Given that the banks are dragging its feet in terms of giving people interest in their savings accounts, coins that offer reliable staking rewards will probably start to gain more attention as time goes on. I've been promoting the coin Tezos quite a bit lately since it's the coin that I feel like has the biggest long-term promise. They currently offer: 1) staking rewards (4.63% on Coinbase but higher if you stake them yourself) 2) on-chain governance (which most don't have, including Bitcoin and Ethereum) 3) people building/minting lots of things on top of it all the time, despite the dips in the market right now You probably remember me stanning for ETH since that's how I got my first successes is crypto, but to be honest they may be in trouble longer term if they don't do their merge sooner than later - gas fees are one thing but their decision to stick to off-chain governance models (basically trusting its users to make decisions behind closed doors) has been causing major issues in some projects, especially in DAOs. (Look up Brantley and ENS for an example of what happens with coin-based voting systems.) Whether I give up on ETH completely (I did sell off a pretty big chunk of it recently) will largely depend on how the Consensys merge goes this August and if they move towards or away from the ideals that they're advocating for all the time. They have a lot of catching up to do because #XTZ right now has all of the things they like to talk about already running. For the average person out there, what they're going to see is banks and crypto competing against each other in something that more people can understand: interest rates. Right now crypto is winning since they have the capacity to offer people better rates than the banks are - and can definitely win if they play their cards right. NFTs are still confusing for most people but one number being higher than another number is something that almost anyone can understand. You might even argue that this is the first time crypto is competing against the banks in a very direct way. The markets might look scary right now but once it settles down we'll start to see new patterns emerge with new ideas and products taking the scene.
COINBASE:ETHUSDLong
by RyanTanaka
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ENS Org Fires its Ops Director. How Did it Affect its Price?True Names Limited (ENS-based Non-Profit) fires its operations director. What kind of impact did it have on ENS's price? -- From CoinDesk: www.coindesk.com Over the weekend the Ethereum Name Service (ENS) community voted to remove Brantly Millegan as a steward because of a tweet he posted in 2016 that recently resurfaced. He will also be removed from his position as director of operations of the decentralized autonomous organization's (DAO) corresponding legal entity True Names Ltd. In the tweet, Millegan wrote that “homosexual acts are evil. Transgenderism doesn’t exist. Abortion is murder. Contraception is perversion. So is masturbation and porn.” ENS gives the ability to point a domain name to a wallet. Users would be able to go to a .eth domain name as opposed to a complex wallet address. Domains can be traded as non-fungible tokens (NFT). There are over 675,000 registered names, according to ENS. “Practically, it means that you can have a name that you own, that has all the decentralization and censorship resistance and programmability of Ethereum,” Millegan told CoinDesk in 2020 in describing the project. Millegan hasn't apologized for the tweet, citing his religious beliefs. In a post on Discord, he reaffirmed his beliefs and said he’s open to working with and being friends with a wide range of people. He also said that traditionally minded Christians, Muslims and Jews should not be excluded from Web 3 – and he has received messages of support from those who self-identify as being traditional followers of these religious groups. As of late Sunday Pacific time, community delegates from the ENS DAO voted to remove Millegan from his position with a majority voting in favor. But the vote wasn’t unanimous, with some delegates warning about the dangers of "cancel culture" or the irony of a decentralized service centralizing around the voice of one person. “Brantly contributed to ENS success and deserves to be here. I respect the fact that he stands by his words and doesn’t pull the usual 'It was four years ago, I’m different now, blablabla,'” wrote "victorstark" in the discussion thread. “Woke and cancel people are more toxic than Brantly ever could be, pure herd mentality at work.” Nick Johnson, founder and lead developer of ENS, said mid-Monday Asia time that Brantly would also be removed from the DAO's corresponding legal entity. "Brantly has been a valued team member of TNL for the past three years. However, as a team we felt that his position with TNL is no longer tenable," Johnson said in a Twitter thread. "Many of you were hurt by Brantly's comments over the past 24 hours, and we strongly believe that ENS should be an inclusive community. Going forward we'll continue to do everything we can to ensure that remains the case." Johnson did not respond to a request for comment from CoinDesk. Brantly has yet to make a new statement on this development. The ENS token is up 4.5% to $20.76 at the time of this writing, according to CoinMarketCap.
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by RyanTanaka
ENS Airdrop - Ethereum's Big Experiment in Political GovernanceAs of this week, ENS (Ethereum Name Service) tokens have been airdropped to .eth domain holders. The idea was to issue tokens for governance and policies, but the odd thing is that they decided to let it have its own market. I think the idea behind this decision is to make the connections between politics and money explicit, rather than trying to deny it or separate it. We can see in the real world that politicians lie about this stuff all the time, while their supporters just hold their heads down and pretend it's not going on. Is this system a better one than the ones we have now? We'll find out, I guess.
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by RyanTanaka