Show notes
GM Web3 ☀️Recap - May 26, 2023
Degenz Market Report by @osf_rekt and @rektmando
Another good day for stocks today with the S&P up 1% and the Nasdaq up 1.5%. Interest rates are heavy and were up almost 1.6% on 2 yr treasury. OSF thinks this may be due to PCE numbers coming in properly, as well as some constructive talk around the US debt issue. Interest rates have sold off for basically the past two weeks with stocks rallying which is inverse from the norm.
Crypto is up slightly but still lagging behind stocks which have moved up roughly 10% higher. @farokh checked price, price was good.
The payrolls report is coming next friday which is the next major macro event.
ETH 4 LIFE
@0xfoobar joined us to tell us that BTC is going 0 after we had the bitcoin Maxis on stage yesterday. He also described the nuanced differences and advantages of using ERC-20's vs Bitcoin and BRC-20's, ordinals etc. He says that Bitcoin is basically a great store of data, but not a practical, or even capable, choice for many of the things we are seeing built on ethereum.
"People saying they will build ZK rollups on Bitcoin are just flat out lying" - foobar
Conceptually, you could hard fork the chain completely and update things, but this is just not realistic, and a soft fork doesn't solve the issues because the problems are on the main chain. What people are doing on Bitcoin is just a worse version of Ethereum; they are recreating things with less efficient tech.
GM
The positive side to what's happening on BTC is that there could be a cultural advancement around the first coin and the space as a whole. Hopefully people experiment and break things which leads to people trying to fix things and finding solutions to further advance blockchain tech.
Non EVM chains to 0! (jk we love BTC still but had to provide some ETH propaganda after yesterdays episode)
Jalil & Checks
@jalil_eth joined us from Germany! He has been a friend of Jack Butcher for years, prior to web3. He has worked with the Visualize Value brand and Checks behind the scenes on the coding side.
The original Checks project was minted on Zora with the original concept of just burning checks to reduce supply to get to the single checks being ousted; The problem was that this didn't reward everyone. Jalil points to the different traits of the checks that are all determined on chain; This all tells the story of wanting things to be immutable and how the community will create the art based on their decisions.
Jalil was mainly a programmer for 10 years and only recently became involved in the Ethereum world over the past few years. His passion comes from a love for combining technology with art.
Code is Art.
He tells a story of having to rewrite the entire Elements code due to an economical issue that was brought up that might have allowed for people to get early access. He rewrote it all along with the user interface for elements just days before launch.
"The power of Art inspires us to act a certain way, and checks does this." - Jalil
There will be two new Opepen sets available for holders to opt in. Apparently, Batsoup’s art was the original inspiration for the Opepens!
We were joined by Orlando to talk @nftees_com, an idea where you can wear your NFTs. You just choose one from your wallet and then you can rock it on clothing. There is an option to do digital wearables or physical clothing!
Dress to Flex,
@mylama_eu is an exchange that allows for traditional currencies to be used and is expanding globally. @brighamsantos is the founder of the LAMA bank, with the goal of pushing the mission of mass adoption. They want to enable new participants to buy/sell crypto and NFTs in a safe and secure way.
https://linktr.ee/rugradio
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