Evan Jones 🦇🔊
@ib1gymnast
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Following
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Media
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Statuses
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Naval Flight Officer. Physics Degree. USNA Class of 2017. Tesla FSD 10.3.1. Staking ether with a raspberry pi using @Rocket_pool . My views are my own.
Seattle, WA
Joined May 2016
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ANILPIN WE ARE THE ONE
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Pinned Tweet
reorganizing my writings so that it is more accessible.
see below for my crypto writings in chronological order
ill add new writing here as they come out
let’s go! 🚀 🌒
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@CollinRugg
he’s reiterating the US’s position of strategic ambiguity, which has been its position for decades
not giving a greenlight
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did i really hold eth all the way down from 4.8k to .8k and back up to 3.5k?
yes. yes i did.
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Hello everyone!
I wrote an investment thesis titled "Accelerating Validator Returns Using
@Rocket_Pool
"
If you are considering becoming an ETH validator or spinning up more validators, check it out and consider becoming a node operator on Rocket Pool!
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Hey everyone!
6 months ago on April 1st, I published a paper on why I believe being a
@Rocket_Pool
node operator could be much more lucrative than any other way to stake.
Let's take a look at how Rocket Pool has done since then!
1/9
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Spent the last few months writing an investment thesis about Ethereum. Here it is!
Looking forward to everyone's feedback!
I'd like to thank the following people for their content + inspiration
@Data_Always
@SquishChaos
@draecomino
@RandomWalkNFT
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ETH will soon be close to 10x more secure than Bitcoin. More here:
on a long enough time horizon bitcoin’s mechanism design is just as flawed as terra’s
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2K
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hey Fred - would you want to make a fun bet for charity?
in four years, if ETH outperforms BTC, i win
if BTC outperforms ETH over the next four years, you win
loser donates to the winner’s charity of choice and gives the winner a tungsten cube
ETH BTC was at 0.1189 on May 31, 2017.
7 Years later, it is less than half of that.
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hey
@vaneck_us
, i’m sure you guys are thinking about how to create a “staked eth etf”
are you guys considering using decentralized staking protocols like
@Rocket_Pool
or
@divastaking
?
would be fantastic for the ecosystem as a whole :)
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Okay, here goes. RPL tokenomics proposal - my reactions.
This will be strongly worded, and I apologize, but this proposal needs to be shut down.
TLDR: This proposal should be dead in the water and is destructive to RPL and by extension the community.
Let's discuss. A thread.
valdorff and knoshua are proposing a change to RPL’s tokenomics and I will be making a thread with my thoughts. stay tuned.
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proposed my first block since the merge today and it was worth close to 0.2ETH for the smoothie pool!
nice
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@dunleavy89
@Pierce_Brown
if you like fantasy, highly recommend these two book series:
Lies of Locke Lamora
and
Malazan Book of the Fallen
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@1914ad
this is equivalent to saying miners have control of bitcoin governance.
would recommend that you take the time to understand the ethereum community’s gov process before you comment on it
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okay hear me out:
Shopify, but on Ethereum
Shopify’s revenue in the last 12 months was approx. $7 billion at 50% margins…
who’s building this?
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@superphiz
i was still attesting the whole time :)
using besu and lodestar!
yay minority clients
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@montana_skeptic
@GordonJohnson19
you have to admit, montana, that you’ve been wrong about tesla for about a decade now
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if I published an update to my ethereum thesis on its 3 year anniversary, would you guys read it?
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@MetatronX77
@CollinRugg
drawing a line in the sand in international politics is a cardinal sin
because your adversaries will either:
1. come right up to the line as close as possible
or
2. cross the line and see what you do
do you do what you say you would? or draw another line for them to cross?
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@DillonLoomis22
it’s always funny when i hear the “competition is coming” argument and I ask how many EVs the competition delivered in 2022
they never know the answer
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rETH utility should increase over time as more protocols incorporate it due to the sharp increase in liquidity
it’s a fly wheel:
—> increase in liquidity means it gets incorporated by more protocols
—> utility goes up
—> demand goes up
—> more rETH is created
—> liquidity goes
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@Rocket_Pool
‘s rETH is trading at a 2.6% premium to its underlying value right now!
this is equivalent to ~ 6 months staking yield per ETH
Demand for a truly decentralized liquid staking derivative is through the roof!
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lower bound short term buy pressure for $RPL may be ~ 1000 ETH or more, if the nodes that are currently below 30% collat ratio want to split their 16 ETH pools into 8 ETH pools and continue receiving RPL rewards post Atlas.
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@Tazerface16
go navy! usna ‘17
owned my tesla model 3 for 6 years and i love it
full confidence they will deliver
remember: tesla’s number one mission is accelerating the transition to sustainable energy
it probably has not made sense for them to deliver on this product yet with that
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the difference here is that
@Rocket_Pool
is actively working on removing these protocol risks
where as, Lido is actively *not* self limiting and has been called out by
@dannyryan
major differences here
During the deep dive into the
@Rocket_Pool
contracts
@LidoFinance
Community Staking team discovered an astonishing fact - the Rocket Pool team owns EOA () that can CHANGE ANY PARAMS and call ANY method on the pDAO contracts!
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something im using crypto for right now:
i have one year left in the US Navy
so for the next twelve months, im saving up on US dollars as i transition to a new industry
but it’d be nice to earn a competitive yield on those dollars
so i’ll be lending them permissionlessly to
@mcuban
@SenateDems
@HouseDemocrats
Other than speculation, avoiding taxes and engaging in criminal activity, what is the utility of crypto?
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if anyone has been considering swapping stETH for
@rocketpool
's rETH, the stETH "peg" has been restored, so now's a great time to make the swap!
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So you ask, how is the “Layer 2 Centric Roadmap” going for Ethereum?
Pretty well i’d say:
—>
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some people on CT are criticizing some of
@drakefjustin
’s comments on decentralization
a short thread 🧵 1/4
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@0x3689c
@tjk____
@fraxfinance
rETH is not controlled by an 8/15 multisig, this is not correct.
The oDAO provides an oracle service, informing the execution layer how much eth is staked per rETH
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@PolitiReality
that’s funny because I had the *exact* opposite experience earlier today:
it was incredible
i just had a 35 minute interventionless drive in my tesla model 3 on FSD 12.3.6.
it even navigated its way out of a gate at a military base w/ multiple barriers
amazing, life saving technology.
seriously incredible
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I won my RPL bet against
@HekmatCrypto
, so he has donated $2k (the original bet was for $1k but he threw in an additional $1k) to the following ten
@gitcoin
projects of hekmat's choosing, for a total funding impact somewhere between $4k and $5k:
-
@remy_roy
's ETH validator
@HekmatCrypto
@Rocket_Pool
i like it.
bet starts when Atlas is implemented and ends exactly 1 year later.
if the RPL/ETH ratio is higher, you win
if it’s lower, I win
loser donates $1k USD on chain and responds to this thread with the tx on etherscan
deal?
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“if all client devs that are involved as being operators say we need to self-limit then all of a sudden we’d have a real conversation” -
@dannyryan
@ethnimbus
@NethermindEth
@prylabs
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As stated earlier, here are my thoughts on the most recent proposal.
A (long) Thread
There’s a significant change to $RPL being proposed right now, I will come out with a thread on my thoughts later today.
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@thepowerfulHRV
Mark, bitcoin has also hard forked away from an exploit, so everything you said above also applies to bitcoin
see here:
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@JasonPLowery
@evan_van_ness
ETH validation is more accessible than BTC validation.
I can do it on a raspberry pi.
BTC requires a substantially larger investment and access to cheap electricity to be profitable.
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anyone claiming that people are antagonizing Lido is missing the point imo.
It's nothing personal against Lido.
What happens when, 20 years from now, Lido is above 33% of stake and its is composed of entirely different actors?
I don't understand people who antagonize Lido
If someone uses the system in an intended way and in good faith but ends up being a threat to the system, then it's a failure of the system.
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valdorff and knoshua are proposing a change to RPL’s tokenomics and I will be making a thread with my thoughts. stay tuned.
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RPL now roughly at fair market value based on my RPL valuation metric.
At a today's price of Ξ0.01281527 per RPL, It is predicting roughly 607k rETH in existence.
( 0.012815/0.021114) = 0.6069
Today there is around 650k rETH, which means RPL is roughly fairly priced.
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@thepowerfulHRV
@0xAcronix
Mark, bitcoin has also hard forked away from an exploit, so everything you said above also applies to bitcoin
see here:
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@garyblack00
Gary, what if their global market share fell because they are supply constrained? Ie they physically couldnt make enough cars to meet demand?
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I want to emphasize that this is in a discussion phase, so there's no need to panic - just respectfully signal that you do not support this change.
Thanks all
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personal challenge:
if you follow me and are running validators, switch away from geth.
this is more than just “its healthier for the network”
this is simply the selfish preservation of capital.
if geth has a bug and votes on an invalid block, you stand to lose ~80% of your
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@sassal0x
hey sassal - just wanted to say thank you for all your hard work and please enjoy your week off
happy holidays to you and your friends + fam
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@LeilLikeNeil
@WSBChairman
@elonmusk
I hope you realize they *literally* modeled Tony Stark as a character after Elon…? They even have Elon in as a cameo
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I believe it's likely the cost to attack $ETH will become close to 10x the cost to attack $BTC in the next 12 months.
A quick thread. ✍️ 1/9
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will be hosting a twitter space this afternoon with
@marceaueth
and
@ewaneth
to chat about a few things
- $ETHE discount
-
@NodeOperators
(NodeSet) implications for Rocket Pool and to increase awareness
will open up for questions at the end. should be a fun convo, come join us!
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@SquishChaos
thanks for getting me into the Ethereum ecosystem! I now stake with
@Rocket_Pool
and you got me started down the rabbit hole. Genuinely grateful!
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Hey everyone! My first validator officially came online today. I am using
@Rocket_Pool
to run
@go_ethereum
and the
@ethnimbus
clients, all on a Raspberry Pi 4! Rocketpool's documentation at is impressively extensive.
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heading into this new bull, ive grown my eth stack by 75% since the 2021 bull
and all of my research was provided publicly for free
feels good man
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@drakefjustin
it’s even higher if you account for whats required to control the chains
$10B * 0.5 = $5B
$60B * 0.66 = $40B
$40B / $5B = 8x
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someone pls do this with
@Rocket_Pool
’s rETH
let’s call it Rocket Pad
- user deposits stETH
- gets converted to ETH
- Rocket Pad spins up rocketpool minipools permissionlessly
- original stETH depositors earn a cut of the RPL emmissions
- NO gets a cut as well
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@bradherenow
@phildaian
vitalik was 20 years old when he first publicly introduced Ethereum
its market cap is literally 251 Billion right now
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@resistancemoney
PoS > PoW
switching to PoS has been a publicly stated, heavily researched goal for the Ethereum community for a long time
and the successful switch was one of the most impressive feats of software dev + coordination that has occurred + will be celebrated for a long time
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unless you run a node with
@Rocket_Pool
and earn an extra 15% commission 😜🥰
@lopp
Everyone is rewarded with the same 5% APY on their staked ETH. This is contrary to Bitcoin that the more capital you invest the more you make. Mining at home makes 0% APY and large capital businesses stand to make 100%+ APY.
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i had a lot of fun speaking with
@orangeSamus
and
@waqwaqattack
yesterday!
i discuss an alternate approach to Rocket Pool tokenomics with a different set of tradeoffs than what Samus and Valdorff have proposed, excited to hear what people think about it!
Today's special Rocket Fuel is here. This episode covers
@ib1gymnast
's alternative tokenomics proposal for Rocket Pool.
@orangeSamus
gives feedback. It includes:
- making LEBs smaller
- RPL collateral requirements
- Samus' critiques
and more!
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The Rocketpool Community is again discussing tokenomics, here are my thoughts.
TLDR: This is a well thought out proposal, however, for the below three reasons, I do not support these changes.
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@superphiz
I think somehow getting some validators in the hands of public highschools comp sci departments would be really cool.
Might take some people smarter than me to be able to accomplish that though.
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@sassal0x
hey
@sassal0x
, i wrote an educational piece about
@Rocket_Pool
, would love to hear your thoughts about it! linked below:
Hello everyone!
I wrote an investment thesis titled "Accelerating Validator Returns Using
@Rocket_Pool
"
If you are considering becoming an ETH validator or spinning up more validators, check it out and consider becoming a node operator on Rocket Pool!
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@0xboodle
@NorthRockLP
@Rocket_Pool
going to reiterate Ben here -
@rocketpool
is great for a few reasons:
- collateral to run a node comes down to ~ 17.6 ETH vice 32, meaning you can run almost twice as many validators + your rewards are more regular
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@PolitiReality
isnt it exhausting just assuming everyone is lying all the time?
what if, and hear me out… im telling the truth actually?
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Rocket Pool thesis intact. Keep an eye on this space!
charts and data from
follow
@RocketscanIO
,
@RP_Intern
,
@marceaueth
,
@shtimseht
,
@Jasper_ETH
, attend the weekly twitter spaces and come hang out in the discord!
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Node Operator's returns are *highly* sensitive to the RPL/ETH ratio.
If Node Operators cannot break even staking through Rocket Pool, the protocol will be unable to attract more Node Operators and the protocol will not grow.
Full stop.
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I graduated from the US Naval Academy with a degree in Physics and I wrote a research paper on Bitcoin and Ethereum.
Jason: you’re wrong. The US Govt SHOULD NOT be purchasing crypto assets with tax payers’ money.
Debate me in public on youtube.
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people forget why we even need decentralization in the first place
we dont decentralize just to decentralize
we decentralize to:
- create a neutral base layer
- achieve censorship resistance
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I predict 11 hours and 42 minutes
i did some math behind this I won’t reveal my thinking until after the guessing period is over 😇
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@montana_skeptic
@GordonJohnson19
nikola was fraud. tesla’s the real deal.
safest and most fun cars on the road
🤷♂️
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@0xLiquidated
@NateGeraci
@vaneck_us
@HeleneBraunn
they’re referring to the burn, which is kind of like a stock buy back
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@EricBalchunas
@NateGeraci
i mean, someone will sue
and Grayscale has a fiduciary duty to ETHE holders to sue
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wanna make a bet for charity?
if ETH outperforms bitcoin over the next four years, i win
if BTC outperforms ETH over the next four years, you win
loser makes a donation to the winner’s charity of choice
An Ethereum ETF might actually get approved?
Unfortunately, an ETF won't save ETH.
ETH will continue its trend toward 0.
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@superphiz
@Rocket_Pool
Put out my paper on Rocket Pool earlier today, would love to hear what everyone thinks! :)
Hello everyone!
I wrote an investment thesis titled "Accelerating Validator Returns Using
@Rocket_Pool
"
If you are considering becoming an ETH validator or spinning up more validators, check it out and consider becoming a node operator on Rocket Pool!
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Thanks everyone! Rocketpool really is a kickass community.
I've had a blast being part of the ride and plan to continue sticking around.
Looking forward to everyone's thoughts.
cc
@waqwaqattack
@Jasper_ETH
@RP_Intern
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@LordTyphon
@waltshaub
I drove across the country in my Model 3 for $196 and didn't have to plan anything. It was awesome.
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Bankless holds $RPL
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@Rocket_Pool
continues to be a force for decentralization in the Ethereum ecosystem and remains the most profitable way to stake.
I expect to see continued protocol growth in the future and excited to see what it holds for Rocketpool!
cc:
@marceaueth
@Jasper_ETH
@RP_Intern
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@MayanRanch
@brad_eth
@econoar
Inflationary = supply increases (bitcoin until 2140)
Disinflationary = supply is static (bitcoin after 2140)
Deflationary = supply decreases (eth post merge)
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@indexcoop
is revamping their product launch process with an exciting new mechanism - Product Revenue Tokens, or PRTs.
Index Coop enjoyooors will soon be able to earn a portion of the fees generated on Index’s product offerings, allowing users to gain exposure to Index’s
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@NorthRockLP
I wrote an article discussing
@Rocket_Pool
and accelerating one’s returns relative to solo staking, would love to hear your thoughts!
Hello everyone!
I wrote an investment thesis titled "Accelerating Validator Returns Using
@Rocket_Pool
"
If you are considering becoming an ETH validator or spinning up more validators, check it out and consider becoming a node operator on Rocket Pool!
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@AdamGausepohl
@garyblack00
@petteri_bergius
@RabidMonkies
Among Elon’s “fabrications” are the safest cars on the road, the world’s only orbital-grade reusable rockets, and a network of satellites which will provide internet globally. Don’t bet against Elon. I wish you luck good sir! :)
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@ChrisBlec
@swaggyAlexyo
@d_gusakov
@Rocket_Pool
@LidoFinance
@Jasper_ETH
also, your behavior makes it clear that you’re engagement farming. the rocket pool community is actively working on these issues. you should be cheering them on!
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To demonstrate how sensitive Node Operator returns are to the RPL/ETH ratio, I've made a few interactive charts with sliders in Mathematica.
Here's a link to the code, if you want to convert it to python you can use chatGPT (or any LLM of choice)
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i’ll be hanging out with
@terencechain
for the
@eth_pnw
meetup this saturday
if you’re in the seattle area, come hang with us!
would love to chat about ethereum and
@Rocket_Pool
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@1914ad
an ad hominem, nice
if you want to have an intellectually honest discussion, I would love to hear your thoughts on my paper about why ETH has more utility, is more scarce, and more secure than bitcoin
Spent the last few months writing an investment thesis about Ethereum. Here it is!
Looking forward to everyone's feedback!
I'd like to thank the following people for their content + inspiration
@Data_Always
@SquishChaos
@draecomino
@RandomWalkNFT
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I want to emphasize: this is not my opinion, this is how the mechanics of demand for RPL work. It's just math. Anyone who says "well that's just your opinion, man" is wrong.
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possibly unpopular opinion:
rpl tokenomics are largely irrelevant.
it’s far more important that rocketpool safely minimizes the eth that is required to spin up a new minipool
it’s roughly an order of magnitude difference
i’ll be writing about this soon, just gotta make some
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eth quietly outperforming bitcoin in the last 3 months by 20%
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@drjasper_eth
@0xMert_
@unlock_VALue
“everyone does this” and “everyone does that”
anyone who makes massive generalizations like this is clearly not arguing in good faith. big red flag in mert’s thinking as this is clearly not the case.
running validators on raspberry pi and rock5b from home atm and they draw ~ 5
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