5 Tweets Oct 11, 2022
Demand for Ethereum L1 has surged due to some ponzi (reminds me of when Forsage was the top gas guzzler throughout 2019)
Now, this may lead to annoyance and questions like - why are they not on L2?
The simple answer is because they have sufficient demand to justify being on L1
To state the bleeding obvious - Ethereum is a neutral and free market, anyone can bid for transactions as they please, and neutrality means ponzi transactions are more valuable than, say, a donation to Ukraine, if the ponzi participants can afford to pay more
This particular ponzi seems to be quite valuable, for whatever reason, and that means it has *earned* it's way to being a premier L1 application
Even when L2 rollups are perfectly mature, it's important to remember that economic activity will always prioritize L1
Premium applications & wealthy users that generate most value will forever live on L1, and as L1's throughput increases over time, it'll accommodate more
It's only applications & users that cannot afford to use L1 / impossible to build on L1 that will spill over to L2s
Personally, I find perfectly free markets wildly dystopian for a variety of reasons, but this is the only unique proposition of crypto and Ethereum. It could very well be Ethereum's endgame is being used for more evil than good, and it's something we must be prepared for.

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