Hey yo, what’s the word with those who have
enlisted, the Chico Army & if you're new around
here, a lowly viewer of the tube.
My name is Tyler, the host of the crypto channel,
that keeps it weirder than how Korean baseball
players brawl.
You know how we Chicken fight, it’s time
for Chico Crypto!
Speaking of a fight...there is a war brewing
and on the horizon, and it’s not crypto
vs the systems of old, like the Fed, but within
crypto communities themselves.
Kingdom vs kingdom.
Tribe vs Tribe.
What are you talking about Tyler?
Well, many people don’t realize, we are
building web based tribes, which can eventually
morph into kingdoms, where communities are
built, internet based and their people are
savage, willing to defend the place they call
home, and the leaders at all costs.
Now this concept of an internet tribe not
kingdom yet…. is reinforced by the people,
communities, communication channels and loyalty
built, as these were a factor of the internet
but with the creation of blockchain and crypto,
we now have within these, a means of trade,
governance, and even ranks through nodes.
The people within communities can transact
with each other, cast votes, elect leaders
& build their monetary and social status within
the community, creating a virtual society
like never before...which can take an internet
tribe & morph it into a kingdom!
Bitcoin was the first, the cypher punks, just
an internet tribe stumbled upon bitcoin from
Satoshi Nakamoto, a gift from the Internet
God or God(s) which would transform their
tribe into a kingdom & it did.
Bitcoins market cap grew, trade was established
& the community grew.
Although with the disappearance of Satoshi,
this was a leaderless kingdom being formed
& without proper governance structures built,
it was destined to break apart especially
as the gold of this kingdom’s value rose.
The basic governance structure, forced BITCOIN
to fork and the tribe bitcoin cash was created,
but this time with actual leaders, Roger Ver,
Jihan Wu, and Craig Wright.
But as we know, they were each trying to become
king of this newly created tribe, and power
wars took place which ended with the young
tribe splitting, and the creation of the Satoshi
is craig tribe, BITCOINSV.
Now, that was one of the first highly publicized
kingdom splits, which led to tribal wars.
But that was in 2017...there was actually
one I think is more important as it highlights
the concept of .bending the freaking knee.
Now this was when Ethereum was just a tribe,
no kingdom yet.
They were one tribe in 2016, but on a fateful
day in June a highly anticipated project was
hacked where smart contracts were exploited,
and 3.6 million Ether were stolen, worth 50
million at the time, but now over 1 billion.
A 50 million dollar heist happens, which is
over 4 percent of the total supply of your
tribe's gold.
And your internet tribe is only a year old,
it's young and fresh.
Ya this is gonna cause a tribe split, and
it did.
Some people within the Ethereum wanted to
hardfork the chain, and thus return all the
Ether taken from the DAO to a refund smart
contract, which those affected could use.
Other’s didn’t, as they felt code is law,
it was a bailout, and it could lead to a slippery
slope.
Thus, there were now two camps, fighting for
the communities, and the people that were
once one...became two as ethereum vs ethereum
classic happened.
The hardfork went down, while miners kept
mining the old chain which became classic.
And what’s interesting about these tribes,
especially back in 2016, when Ethereum was
young, and still to this day, is hashpower
from miners.
The higher the hashrate, especially if they
are using the same algo, the more dominant
the tribe.
Which was seen when the split happened, most
miners went with the fork, while Ethereum
classic, the OG chain, dropped off a mining
cliff...which, the gap between hashrate, and
mining power, has only widened to where Ethereum
Classic is an afterthought, and a failed tribal
kingdom.
Need an example?
Of bending the Knee to the once tribe, that
has now worked its way up to the kingdom called
Ethereum?
You guys know Barry Silbert of DCG, digital
currency group.
CEO and founder Well, he’s an ethereum classic
tribal elder, who backed it, massively invested
in it, funded it and thought his influence
would push it to the moon…
Guess what?
He bent the knee and tweeted on July 30th,
Ethereum’s bday this “Happy birthday,
Ethereum.
I’ve come to respect and appreciate you!
[Disclosure: DCG is long $ETH & $ETHE]
King Vitalik thanks you for your service Barry,
but you are a traitor of the Ethereum kingdom
Barry, everyone knows that.
But the reason he is bending the knee, is
because the ethereum kingdom, if getting very
powerful.
Developers stuck with Ethereum, and the smart
contracts they have built, have reinforced
the kingdom’s fortress walls.
And now from those smart contracts DeFi has
been built, and it’s Ethereum's offensive
weapon, the catapults of flaming fireballs
that can & will batter tribal attackers within
the crypto space holding off their attacks,
XRP, EOS, NEO & more.
What is the common theme with every single
one of these?
2017 hype, their communities grew and gained
massive followings, bringing them closer to
internet based kingdoms.
Keyboard warriors were enlisted in each camp,
shills, bot farms and more were unleashed...which
can be seen in the subreddit growth of each,
the same freaking pattern, explosion upwards
during the end of 2017, beginning of 2018
craziness.
Then flatlining….
What else is common with each of these?
They didn’t bend the knee to Ethereum, and
tried to compete as a warring tribe & still
to this day are holding out on...bending the
knee.
EOS, no doubt about is competitor to Ethereum.
No solidity integration, no bridge, nothing...for
2 years.
It wasn’t until, a member of the Ethereum
Kingdom, Kyber Network, reached out to the
defeated EOS tribe, and built a bridge, connecting
the two.
Kyber announced the waterloo bridge in February
of 2019, which if you know what the actual
bridge in London was built for?
To celebrate a victory of war...hmmmmm, has
EOS bended the knee?
How about NEO?
Another pure Ethereum competitor, which held
out for the longest time on Ethereum, not
adding any bridges, solidity integration for
almost just as long.
Luckily a small tribe within their ecosystem,
Switcheo, created one just before EOS, in
November of 2018...bridging the two for their
DEX.
And just look at currency volume numbers on
Switcheo, today.
Ethereum is the dominant currency, even on
NEO’s own chain and one of it’s DEX’s.
How about the other one NASH?
Dominant currency is largely USDC, an ethereum
stablecoin, then BTC, then Ethereum, and lastly
NEO.
Bending the Knee now?
Oh heck yes!
Finally what about da ripple tribe?
Aka the xrp army.
Well they were the first to realize Ethereum
integration would be needed to survive.
In May of 2017, the interledger twitter posted
this “The Interledger call on Wednesday
will include a sneak preview of payment demo
between XRP and ETH.
So, XRP was the first to build a bridge?
They tried...but failed, I think, going to
the interledger github, for the Interledger
Ethereum Payment Channel Plugin...you can
see they have a roadmap, that isn’t complete
and the code hasn’t been worked on in over
a year.
Either they failed at it, or they got gungho
that they didn’t need a bridge, and decided
to not bend the knee.
Well you remember how I said DeFi, is Ethereum’s
offensive weapon, which will batter and bruise
opposing tribes to their knees.
Well XRP, decided to retry in february of
this year..and decrypt covered it in an ironic
headline titled “Why Ripple is funding a
bridge to Ethereum's DeFi market” Yes they
are funding a bridge, Warren Anderson, senior
product manager at ripple, put out a blog
post, explaining to what’s left of their
XRP army, why they are doing this...Bending
the knee to ethereum.
In the post it states “Last weekend, we
sponsored ETH Denver, one of the largest Ethereum
hackathons and conferences in the U.S” Unsurprisingly,
one of the most frequently asked questions
that we received while on the ground at the
event was:"What is Ripple doing at an Ethereum
thing?"
He tries to explain himself, saying Xspring
is open source but basically he sums it up
the reason as Ethereum has the largest community,
including development aka a large dominant
kingdom.
He continues saying “So, Xpring sponsored
three challenges during the Sustain Web 3
virtual hackathon on Gitcoin leading up to
ETH Denver.
Each challenge has an interoperability theme
with a focus on building bridges between XRP
Ledger (XRP) and Ethereum (ETH) over Interledger
Protocol (ILP) & as we can see including bitfrost
the main layer bridge being built.
Now, you wanna know why I compare these things
to internet tribes and kingdoms.
Because those involved and higher up with
projects do too.
Per example what Warren says next “You may
recognize that we were inspired by the Norse
mythology of Bifröst, a burning rainbow bridge
that reaches between Midgard, the realm of
the humans, and Asgard, the realm of the gods”
Kyber called the EOS bridge waterloo, to celebrate
the british victory over napoleon and Ripple
is calling their Ethereum bridge Bitfrost?
Like Warren mentioned bitforst is a bridge
that reaches Midgard Earth, and the realm
of the gods, Asgard.
So, if Ethereum is England in this sense,
and ripple considers themselves norse, the
vikings.
We know what went down in England in the early
ADs.
The Vikings invaded, and tried to take England
as theirs and kept it for about 300 years,
the viking age, but finally lost it around
1066 AD.
So is this DeFi bridge attempt named Bitfrost,
a bend of the knee?
Or is it actually a war cry??
Are they attempting to take the technology,
the developers and the offensive weapons of
DeFi and bring it back to their tribe?
As XRP is no kingdom yet.
Well I wouldn’t doubt their trojan horse
plan for a second.
The same goes with another tribe, who is trying
to build their way to a kingdom and they consider
themselves the vikings too.
Who am I talking about?
Cardano.
Just 2 weeks ago, they announced their bend
of the knee bridge...Cardano tribe leader,
Charlie Hoskinson announced it 2 weeks ago….
What’s hilarious, is he is contracting out
a firm
to build the converter.
Now if you have any history with them, you
should be like WTF?
Charles tried to join, the Ethereum Classic
tribe to go to war with Ethereum, and IOHK
still support ETC development as it’s listed
on their website
So why would they need to contract a firm?
Why not use IOHK, shoot charles, you even
suggested Tron’s DPOS blockchain use an
ethereum classic client IOHK built, Mantis.
You said “the code is much better, security
audited and consensus is pluggable for a DPoS
style protocol” Ok, so why doesn’t Cardano
use it?
Pluggable to DPOS, why not your POS?
But regarding Vikings, and Charles plan to
attack, which he showed is his goal by trying
with ETC...everything in Cardano is named
after Norse mythology.
Ouroboros the name of their proof of stake
consensus, means Serpeant, and one of their
testnets is named Jörmungandr is a norse
mythology serpent, also known as the Midgard
(World) Serpent.
Then according to AZcoinnews, who covered
a recent charles talk in regards to voltaire
testing..
They said this “The Viking test sandbox,
Hoskinson called it, will see new capabilities
and concepts added after six to eight weeks.
And Charlie loves taking pictures, with Viking
memorabilia.
Gearing up for a tribal attack on the kingdom
of england, I mean Ethereum?
So, I hope you see this, and understand that
the internet is a virtual landscape, which
can be conquered.
Fortresses are being built, as we speak, through
code and smart contracts.
Offensive weapons are being primed and put
into action through DeFi.
And the communities are getting more savage
by the moment.
I should know, I have faced many of these
tribes head to head, the keyboard warriors
& sometimes their leaders.
And some think, I’m loyal to King Vitalik,
and his kingdom of Ethereum.
But what people don’t realize is I’m a
godless, tribeless, kingdomless video warrior,
who is still looking for his internet home.
Cheers viewers I’ll see you next time!
