What is the Ethereum ‘Merge’ and What Does it Means for Crypto?

This week Ethereum had a major software update called "the merge" which should greatly reduce energy consumption on the platform and perhaps give it an advantage over Bitcoin and other crypto currencies.

On Wednesday, the world’s second-most valuable cryptocurrency completed an update that would significantly slash its energy usage.

The new system will use 99.95% less energy, according to the Ethereum Foundation. The upgrade, which changes how transactions occur and how ether tokens are created, could give Ethereum a major advantage as it seeks to surpass rival blockchain Bitcoin. 

Interesting stuff.

Bitcoin vs Ethereum

Interesting look at Bitcoin (BTC) vs Ethereum (ETH) and why this investor is going with ETH.

Still bullish on crypto and blockchain technology. 

Notes on Web3

This post had some interesting and valid criticisms of Web3. But this one really got me thinking:

Web3 promises rewards - maybe even a kind of justice - for "users," but Ethereum doesn't know anything about users, only wallets. One user can control many wallets; one bot can control many wallets; Ethereum can't tell the difference, doesn't particularly care.

While the above rings true - what would a Web3 bot look like? And if it was something that was able to make "money" via generating "likes" - wouldn't that be kind of cool? An AI that makes you laugh or think new thoughts? Are you as curious what that would look like as I am? And if successful wouldn't that bot be creating not scamming? Or am I way off base here.

Linky Links

Stuff I found interesting or amusing and thought I'd share.

-  Matt Taibbi on Biden Administration nominee Timothy Wu and the First Amendment. Interesting viewpoint.

- How to Forgive. A great parable to know.

- The Most Important Scarce Resource is Legitimacy. Although the article is Ethereum-centric the concept of "legitimacy" is one that will be central to public discourse for years because of applications in politics, media, education, etc.

- Money can buy happiness after all. Only people who have always had money doubt this. (HT Newmark's Door)