Justin Bons
@Justin_Bons
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Founder & CIO of @CyberCapital Europe’s Oldest Cryptocurrency Fund, full-time crypto researcher since 2014. My words are my own & are not investment advice.
Joined January 2018
1/6) Solana was DDoS attacked again yesterday. This attack exploited fundamental design flaws which are considered features by SOL. As it sacrifices decentralization & security for speed. While ignoring the consequences of that trade off. Specifically Proof of History & Turbine:.
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1/25) Solana has far too many red flags. Blockchains should never have downtime. Yet SOL has gone down at least 7 times since I first spoke out!. A consequence of their own design decisions. There are many examples of lies, fraud & bad design. Exposing a pattern of bad behavior:.
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1/18) I do not support SOL, there are far too many red flags. Consistently displaying a pattern of bad behavior. Prioritizing attracting ignorant investors over good blockchain design. There are many examples of lies, fraud & bad design. I will go over several in this thread:.
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1/6) In early April 2020 the Solana team stated that the total circulating supply was 8.2M. When in reality the total circulating supply was above 20M!. Marking the start of a long series of lies, fraud & deception by SOL. The following story is all based on verifiable evidence:.
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1/17) Tether is a 118 billion dollar scam; bigger than FTX & Bernie Madoff combined!. No proof of reserves & an audit has never been done; USDT is printing counterfeit money (fraud). Caught falsifying documents, obscuring identities & lying about reserves. Stop using USDT now! 🧵.
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1/25) I do not support SOL, far too many red flags. A blockchain with downtime is unacceptable. ETH & BTC never go down. SOL is suffering from the consequences of their own design decisions. There are many examples of lies, fraud & bad design. I will cover several in this thread:.
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1/25) Polygon is still highly insecure & centralized!. It would only take 5 people to compromise over $2B. Adding insult to injury 4 out of these 5 are the Polygon founders!. This is one of the largest hacks just waiting to happen. Reckless & irresponsible, a warning to the wise:.
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1/25) Ripple is centralized & permissioned, contrary to the claims made by its executives. XRP is misleading investors by lying about its decentralization. The foundation has total control over the network!. Attracting retail buyers with such false claims is straight-up fraud! ⚠️.
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1/7) SOL has gone down again. This is the 8th time SOL has gone down in the past year!. Blockchains should never have down time, yet SOL goes down almost every month!. This is another consequence of bad design. As SOL prioritized attracting investors short-term over good design:.
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1/9) Elrond has solved the blockchain scaling trilemma!. EGLD is now the first chain that has crossed the scaling finish line. The holy trinity; state, execution & data sharding. All fully interoperable, achieving ETH's roadmap before ETH!. The future is now, the future is Elrond.
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Congratulations to the ADA community for implementing on-chain governance today!. A critical milestone that most have not achieved yet. As true decentralization at scale is impossible without governance. Others pretend to be decentralized but are still controlled at the center!.
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1/14) Polygon in its current state is insecure & centralized!. It would only take 5 people to compromise over $5B!. 4 of those people are the founders of Poly!. This is one of the largest hacks or exit scams just waiting to happen. Reckless & irresponsible, a warning to the wise:.
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WARNING: BTC is vulnerable to a bank run! ⚠️. If a panic sets in; the vast majority of 33M on-chain users will not be able to exit. The queue would in fact be 1.82 months long!. Potentially even triggering a death spiral, annihilating investors; BTC's code & math do not lie: 🧵.
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1/6) The cryptocurrency top 50:. BTC - The king is dead.ETH - Long live the king.USDT - Trusted without trust.BNB - Wild West.USDC - Trust Brian.XRP - Decentralization LARP.ADA - Academic-paced innovation.DOGE - Started out as a joke; still a joke.MATIC - Ignore the admin key.
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Solana is broken; it fails to meet demand!. Before leaving crypto, try other chains!. Here are all L1s in the top 100 based on decentralization & scalability:🧵. BTC - Low capacity❌.BNB - Centralized❌.ETH - At capacity & centralized L2s❌.SOL - At capacity (parallelization)❌.
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1/25) MultiverseX (EGLD) is the technological holy grail of crypto. Capable of exceeding 100k TPS now, as it has fully implemented sharding!. After ETH & others gave up on this goal, EGLD came along & proved them all wrong!. Come with me & explore the cutting edge of crypto: 🧵.
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Let's cut through the BS with hard facts: 🧵. ETH= 119 TPS with 50k+ nodes.SOL= 10k+ TPS with 1.4k nodes.ADA= 18 TPS with 2k nodes.SUI= 10k+ TPS with 100 nodes.NEAR= 100k+ TPS with 238 nodes.APT= 10k+ TPS with 151 nodes.ALGO= 10k+ TPS with 1.5k nodes.EGLD= 100k+ TPS with 3k nodes.
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1/25) HEX is a scam!. Technically not a Ponzi scheme but something much worse. HEX is designed to enrich its founder through ponzinomics. Unable to generate its own revenue, it purely relies on new investment to avoid collapse!. Not all cryptocurrency innovation has been good:.
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A list of the top 10 L2s by market cap; a dystopian nightmare of centralization:🧵. Arbitrum - Can steal all user funds instantly with a multi-sig, has permissioned proposers, centralized operator can exploit MEV & centralized sequencer can censor. Base - Can steal all user funds.
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Buyer beware; a list of major red flags in the cryptocurrency top 50:. 3. USDT - No proof of reserves. 5. XRP - Claims to be decentralized but is not. 13. MATIC - Admin key can steal user funds. 19. LINK - Admin key can manipulate oracle prices. 31. HBAR - Claims to be.
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What would you say if I told you the most technically advanced blockchain today;. Is from a small team in Romania that raised $5M in 2019. Achieving what ETH gave up on & NEAR only recently achieved; full execution sharding!. EGLD is that chain & it deserves more of our support!.
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1/20) Cardano has been propped up by false promises & claims. Promising the moon while only delivering mediocrity. ADA is one of the oldest 2nd generation blockchains. Yet it is objectively the least capable compared to all of the competition. I will cover why in this thread:.
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1/38) BTC's security model is broken. It has to double in price every 4 years for a century or sustain extremely high fees!. Just to maintain the present level of security. Which is impossible, as it would exceed global GDP within decades. Therefore, BTC security is doomed! 🧵.
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1/16) SUI has a great design, except for its token economics:. SUI claims to have a capped supply of 10B, with 52% being "unallocated" till 2030. The problem is that over 8B SUI is being staked right now!. Over 84% of the staked supply is held by founders! SUI is centralized: 🧵.
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6/6) This is just one aspect of SOL's design that exposes the bad faith of its creation. Prioritizing attracting ignorant cryptocurrency investors over good sustainable blockchain design. There are many examples like this in terms of design as well as lies & fraud, buyer beware.
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1/25) Elrond is the closest to solving the blockchain scaling trilemma!. The holy trinity; interoperable state, execution & data sharding. However, there are also major flaws which I will expose in this thread. Flaws that have to be overcome!. Here are the pros & cons of EGLD:.
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1/45) Solana has far too many red flags. SOL has gone down at least 9 times this year alone!. A consequence of their own design decisions; sacrificing decentralization & security for speed. There are many examples of lies, fraud & bad design. Exposing a pattern of bad behavior:.
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Looks like Arbitrum went down for an hour yesterday. At this stage, Solana is more reliable than ETH L2s!. While everyone rallies around BASE, which had $10 fees today!. That is what you get when you sacrifice the L1 on the altar of "L2 scaling"; unreliable & expensive custodians.
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1/8) The roadmap released by @VitalikButerin today proves that ETH will never scale. There is, in fact, zero L1 scaling on the roadmap. Everything is focused on L2s instead of empowering people to use the blockchain directly. That is not cypherpunk at all.
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1/11) BTC is unique in that it is technically one of the worst cryptocurrencies. It has a broken long-term security model. It lacks capacity, programmability & composability. With comparatively weak economic qualities. BTC is, in fact, a purely speculative asset without utility.
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1/5) The cryptocurrency top 50:. BTC - The king is dead.ETH - Long live the king.USDT - Trusted without trust.BNB - Wild west.USDC - Trust Brian.XRP - Federation without purpose.BUSD - Trust CZ.DOGE - Started out as a joke; still a joke.ADA - Academic-paced innovation.
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1/6) EGLD has completely solved the problem of MEV! (Miner Extractable Value). A problem that ETH research still spends countless hours of research & debate over. All while this remains a non-issue in EGLD as they focus on more important things. The solution is elegantly simple:.
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SOL is breaking new records today, with usage topping out at a whopping 1511 True TPS. This is more than all other chains COMBINED!. Even if we deduct for consensus TXs & failed TXs; (1511x0.85=1284): SOL still comes out on top. Hate SOL all you want, but do not deny its success:
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It is disappointing to see SOL go down today. There is a correct balance to be struck between innovation & stability; this is not it. I will investigate the cause of this outage in depth later. However, if SOL goes down more than twice this year, I will drop my support entirely!.
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BNB, XRP, MATIC & BTC are not DeFi!. The “De” stands for decentralization & “Fi” for finance. BNB, XRP & MATIC are centralized due to their permissioned blockchain architecture. BTC is just not capable of complex financial products. ETH, ADA, DOT, AVAX, NEAR, EGLD & XTZ is DeFi!.
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1/9) EGLD found the holy grail of blockchain technology. Massive scalability while preserving decentralization!. The first to solve the scaling trilemma with sharding, unlocking over 100k TPS of capacity now. All other narratives distract us from that powerful & undeniable truth:.
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1/9) SOL has the same economic model as ETH. Yet many act as if it is dangerously flawed. The only major difference to ETH is that it has high capacity & therefore lower fees. All of this criticism around SOL's economics is nonsense; a 1.5% inflation rate is not a fatal flaw:.
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1/25) Solana has been marred in controversy since its founding. With frequent downtime, failures, hacks & scandals!. This is why I have put together a short & incomplete history of SOL's skeletons. Working our way down a colorful history of lies, fraud & dangerous trade-offs:.
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Crypto is absurd;. The top 3 chains are nonsense, that is if we are honest with ourselves:. BTC has no capacity, programmability & no long-term security, or scarcity!. ETH also pivoted to reject utility, only to become a worse version of BTC. All while XRP remains centralized!.
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1/6) In early April 2020, the Solana team stated that the total circulating supply was 8.2M. When in reality the total circulating supply was above 20M!. Marking the start of a long series of lies, fraud & deception by SOL. The following story is all based on verifiable evidence:.
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1/41) BTC is fools gold. It has a broken long-term security model. It lacks capacity, programmability & composability. With comparatively weak token economics. I abandoned BTC by 2017. Yet I still believe in Bitcoins original vision, which I first fell in love with back in 2013:.
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I am sorry for anyone who has lost capital due to FTX. Keep in mind that cryptocurrency is not fundamentally affected. Blocks continue to be created like clockwork. This reminds us that:. Trust in centralized authorities is exactly the problem blockchains were invented to solve!.
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Ethereum is in deep trouble. UNI moving off-chain is only the final nail in the coffin, all apps are moving to competing L1s & L2s instead. Collapsing ETH revenue, UNI was ETH's biggest fee-paying customer!. Now ETH is being left behind, irrelevant & broken; Ethereum is cooked 🧵
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1/9) Ethereum is dying while L2's dance on its grave. ETH cannot sustain high fee revenue because it lacks the capacity. At the same time, L2s are seeing record highs in usage & fees while they lobby to keep ETH's capacity down!. That is what makes it a parasitic relationship: 🧵.
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XRP is extremely centralized;. Permissioned, low validator count, high node requirements & no stakeholder governance!. It is centralized in every single way you can imagine. It is criminal that they claim to be more decentralized than BTC & ETH; XRP is an investment fraud/scam!.
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Arbitrum, Optimism, Base, Blast, Starknet & ZkSync all have admin keys!. All of the top L2s can steal all user funds right now. If this is considered safe, then we might as well go back to legacy banking. ETH gives decentralization lip service, but actions speak louder than words.
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1/25) The two biggest offenders for "fake" TPS metrics are SOL & ADA:. SOL is misleading investors by a factor of 6.5, while ADA does so by a factor of 26.5!. Both are guilty of ignoring industry standards for TPS. Time to break down the numbers & separate truth from fiction: 🧵.
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Arbitrum, Optimism, Base, ZkSync & DyDx all have admin keys. These are the top 5 L2s & they can all steal user funds right now. If this is considered safe, then we might as well go back to legacy banking. ETH gives decentralization lip service, but actions speak louder than words.
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Blaming SOL for the fraud & scams that occur there is a brain-dead take;. This always happens to permissionless chains that rise to a dominant position 🔥. In 2014, it was BTC scams & criminal markets. In 2017 ETH ICOs & in 2021 it was ETH NFTs!. SOL is the BTC & ETH of 2025: 🧵
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BTC has become a joke; I can barely take it seriously from a tech perspective. It has an outdated & broken design. While being hopelessly unequipped to improve due to its own politics & governance. Yet it tops out in market cap; this is why I will keep warning you of its downfall.
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1/5) I have softened up on SOL over time. The network effects are undeniable, even after taking inflated metrics into account. Stability has improved by fixing the very issues I pointed out years ago. Since ETH pivoted away from L1 scaling; SOL has become a strong opposing voice:.
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BTC is a dead end. Lighting adoption is a pipe dream, with a UX only usable with custodians. Spending hundreds of terawatts on a speculative asset & spinning it as environmentally friendly is delusional at best. No capacity means no utility & without utility; there is no security.
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Solana is failing right now. The rate of dropped TXs has degraded SOL's UX to an unacceptable state. Victory laps by modular scaling advocates are premature, though, as this will be fixed within weeks. SOL will return to reliably hosting more TPS than ETH & all L2s combined soon!.
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1/36) BTC's security model is broken. It has to double in price every 4 years for a century or sustain extremely high fees!. Just to maintain the present level of security. Which is impossible, as it exceeds global GDP within 31 years. Therefore, BTC security is doomed!🧵.
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1/7) Nobody is doing what Solana is doing; talk is cheap. SOL stayed up during an unprecedented meme coin rush last week. There was severe congestion, that was bad. However, meeting that demand is still impressive. As no other chain in the top 10 is even remotely capable of that!.
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Satoshi Nakamoto was a big blocker!. This contradicts maxi narratives, as it exposes the capture & resulting pivot of BTC. The truth is that Satoshi would oppose everything that BTC stands for today!. As the facts of history expose BTC for abandoning its own founding principles:
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Ethereum is finished; Solana has now overtaken ETH in application revenue!. All while ETHs core devs pontificate on 5+ year timelines at Devcon. Far removed from reality, focused on their petty L2s, building infrastructure for infrastructure. The future is now & it is not ETH!.
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1/11) Kaspa lacks key features that are critical for L1 blockchains. KAS has no Turing-complete smart contracts or PoS!. Chains without these two features are uncompetitive, no matter how scalable they are. KAS claims to be technologically advanced, yet it fails to measure up:.
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1/15) BTC is a purely speculative meme-coin with ZERO utility. ETH is also totally uncompetitive; as they sold their soul for L2 tokens & equity!. XRP is centralized & they are deceiving the public. So what is left? Plenty! Let's explore some options together with impartially: 🧵.
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The real bitcoiners left BTC by 2017. What BTC became had nothing to do with the original intent, vision, or purpose. BTC has, in fact, totally abandoned Satoshi's vision; it was meant to be P2P Cash, not a pet rock!. That is why real bitcoiners support BTC's competitors instead!.
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Algorand deserves our praise. ALGO is decentralizing by adding a P2P gossip network, as this can replace the permissioned relay nodes!. Reserving judgment until I see the specs, as devils might still be hiding in the details. Nonetheless, it is a huge step in the right direction!.
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It has been great visiting SOL's Breakpoint conference this week. Exciting to learn about all of the new developments, especially Firedancer!. I have high hopes that it will be able to achieve massive scalability. As it is breaking new ground in terms of single-shard performance
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BTC - Play & pretend magic internet money.ETH - Hates users but loves L2 funding.USDT - The biggest Ponzi scheme of the century!.BNB - Looks & feels like crypto, but is not crypto.SOL - Crypto hates SOL, but SOL loves its users.USDC - Trust Brian!.XRP - Pretend decentralization.
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BTC is based on lies & perpetuated by greed. As it is not useful, scarce, or secure in the long run. People are being sold a fantastical vision of BTC that is untrue. This mass collective delusion has pushed the BTC meme coin into the trillions; this can only end in tragedy.
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6/6) The total circulating supply was now 16M, double the supply promised in April!. After this they just moved on,. Not even publishing this release on any of their official announcement channels. This is just one example of a pattern of behavior exposing SOL's bad character.
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1/9) Stop saying that sharding is too hard or impossible. When several cryptocurrencies have succeeded in implementing this technology today. Solving the scaling trilemma by achieving massive scale while preserving decentralization. Let me explain; using EGLD as a living example:.
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I do not support SOL; far too many red flags:. SOLs founders were caught lying about supply & made false statements about TPS. SOL falsely inflates usage by design & its ecosystem was complicit in faking peak TVL numbers. Any blockchain with downtime is also utterly unacceptable!.
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Everybody loves to hate Solana. Not for what it is, but for what it was & represented; update your damm thesis!. SOL is a different beast now, so stop with the BS criticisms & recognize SOL for what it has become. We should praise SOL for carrying the L1 scaling torch of freedom!.
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1/6) The good, the bad and the ugly of cryptocurrency:. The ugly; Matic's & Arbitrum's admin keys can steal all user funds! A total value of over $2B!. Chainlink's admin keys allow for the manipulation of its price oracles, which are used across DeFi. Putting over $40B at risk!.
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The top 50 blockchains by market cap rated on scalability (1), governance (2), decentralization (3) & token distribution (4):. 1. 2. 3. 4. BTC: ❌❌✅✅.ETH: ❌❌✅✅.BNB: ❌❌❌✅.SOL: ✅❌✅✅.XRP: ✅❌❌❌.TON: ✅❌✅❌.DOGE: ❌❌✅✅.ADA:.
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@SuiNetwork I love SUI's tech, but the token distribution is garbage. You are making it worse by doubling down on some terrible takes. "Unallocated" allocations, seriously?. It comes across as defensive & insincere; clean up your communication, please; this is bad:.
1/7) The SUI Foundation responded!. Turns out all of SUI's "unallocated" supply has been allocated. "Every token that will be released has been allocated". Now, who is really being dishonest here? 84% of SUI stake is still controlled by "founders"! 🧵.
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1/25) Algorand's technology is cutting edge. Highly scalable without sharding or L2s, boasting a TPS of up to 6k with 4-second finalization times & on-chain governance!. Unfortunately, ALGO is also centralized & permissioned:. Permissioned gatekeepers can censor any TX on a whim!.
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1/7) The SUI Foundation responded!. Turns out all of SUI's "unallocated" supply has been allocated. "Every token that will be released has been allocated". Now, who is really being dishonest here? 84% of SUI stake is still controlled by "founders"! 🧵.
Recently, there have been some misleading posts issued about Sui’s token supply. Let’s set the record straight, starting with the basics: locked tokens are locked by third-party custodians. They cannot be moved, and are safely custodied until they are unlocked according to Sui’s.
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There are some harsh truths in the top 50: 🧵. BTC & ETH have centralized governance & do not scale. USDT, BNB, USDC & XRP are permissioned. SOL & TON lied about the circulating supply. ADA & LINK still have centralized "upgrade" keys. DOGE, SHIB & PEPE are collective delusions.
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SOL went down many times last year, in part due to a lack of fee markets. That was one of the reasons why I was a SOL critic. This year, SOL implemented local fee markets & it has been stable all year!. It would be irrational to stick to my critique; that is why I support SOL now.
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Using SOL is faster, cheaper, easier & more decentralized compared to an ETH L2. Seriously what is ETH even doing? No wonder SOL keeps winning!. That is why SOL has more TPS than ETH & all L2s combined today!. ETH is too far behind & it cannot catch up socially or technologically.
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1/9) BTC has to double in value every four years for the next century or sustain extremely high fees. Just to maintain the current level of security. Such growth is impossible since it would exceed global GDP in 31 years based on current price. Therefore; BTC security is doomed!.
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The SUI network went down today!. A consequence of innovating on the cutting-edge. What SUI has done is still far more impressive than any dinosaur chain's uptime! 🦕☄️🌊. Cryptocurrencies should never go down. Early development has always been a painful exception to that rule. .
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BTC, XRP, BNB & XLM are not DeFi!. The “De” stands for decentralization & “Fi” for finance. BNB, XRP & XLM are centralized due to their permissioned blockchain architecture. BTC is just not capable of complex financial products. ETH, ADA, DOT, AVAX, NEAR, EGLD & XTZ are all DeFi!.
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Solana has an excellent economic design. With a long-term inflation rate of 1.5% combined with a 50% burn rate of the base fee. It is perfect, as tail inflation ensures long-term sustainability while the burn allows for scarcity. The fear-mongering around SOL's economics is FUD!.
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1/11) Tether is one of the greatest threats to cryptocurrency right now:. With the potential of a collapse greater than Terra Luna's UST!. We have to trust they hold $74B in collateral without proof!. Even after the CFTC fined Tether for lying about their reserves in 2021. 🧵.
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1/9) NEAR has finally implemented sharding!. The holy grail of blockchain scaling, solving the blockchain trilemma once & for all. Stateless validation was the last missing piece of the puzzle. Giving us massive capacity without sacrificing decentralization, the future is now! 🧵.
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1/9) BTC is a dinosaur; the technology is ridiculously out-of-date. At an embarrassing 7-13 max Transaction-Per-Second, it is in a position to disrupt nothing. All while being the most inefficient possible, as it excels at nothing. From utility to economics, BTC is a failure: 🧵.
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Roger Ver is one of Bitcoins greatest heroes. That is why the BTC maxis attack him, as he exposes their lies. The truth is that BTC was hijacked & perverted by bad actors, destroying Satoshi's vision. History has been laid bare for all to see, as the truth will set us free: 🧵.
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I am going to start a show where I will ask to be pitched by cryptocurrency founders. So I can respond with criticism & bring the listeners along on that journey. In some cases, I will come in fresh, so you can learn with me. I am making a schedule; so join me by responding here:.
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You cannot scale a blockchain through L2s. As it routes traffic away from the chain instead of actually scaling it. In reality, L2s are parasitically in competition with the L1 over fees!. This is why restricting L1 capacity in favor of L2s is a perversion; born from corruption!.
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Blockchains should be scalable & programmable!. Decentralization is also critical; two factors are governance & permissionlessness. Unfortunately, out of the top 100, only 13 meet these 4 criteria: 🧵. 1. BTC: ❌.2. ETH: ❌.5. SOL: ✅.7. XRP: ❌.9. TON: ✅.10. DOGE: ❌.11. ADA:.
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Because @IOHK_Charles called me a disgusting liar. I challenge him to a debate! Please come & defend the ADA genesis keys in a proper debate. ADA literally has a multi-sig that controls upgrades, that is not decentralized!. Attack me all you want it does not change that ugly fact.
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1/9) BTC is a dinosaur; the technology is ridiculously out-of-date. At an embarrassing 7-13 maximum Transaction-Per-Second, it is in a position to disrupt nothing. All while being the most inefficient possible, as it excels at nothing. From utility to economics, BTC is a failure:.
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1/9) Tezos released enshrined roll-ups yesterday. Achieving massive scale while preserving decentralization. Utilizing the advantages of roll-ups without the disadvantages of L2 scaling. ETH should pay attention or get left behind; talk is cheap; scalable blockchains have arrived.
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I made a mistake in yesterdays post, I was wrong!. I said SOL & SUI have on-chain governance, however, after reading comments & further research;. SOL & SUI do not have on-chain governance, despite misleading language, especially in SUI's case!. Truth always comes before pride!.
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You cannot scale a blockchain through L2s. As it routes traffic away from the chain instead of actually scaling it. In reality, L2s are parasitically in competition with the L1 over fees!. This is why restricting L1 capacity in favor of L2s is a perversion; born from corruption!.
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1/14) We need to bring ICOs back!. Fundraising in crypto used to be democratized; anyone could participate on equal terms. Now, the market is dominated by predatory VCs instead!. The culprit; regulators made ICOs illegal, as this gave the entire early-stage market over to VCs: 🧵.
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1/96) Scaling a blockchain exclusively with L2s is a terrible idea:. Horrible UX due to fragmentation, terrible economics & worse trust trade-offs!. Pushing users into centralization & ultimately into scalable L1 competitors!. That is what makes "L2 scaling" a losing strategy:🧵.
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1/31) Scaling a blockchain exclusively through L2s is a terrible idea. As it comes with horrible UX & trust trade-offs; pushing people into centralization. Inevitably leading to failure; as users move to scalable chains instead. L2s have become the greatest source of corruption:.
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BTC should not be taken seriously as an investment. As it is an emperor wearing no clothes; without utility or long-term security. Making it a purely speculative asset, contrary to the original goals of the project. Here are fourteen reasons why you should not invest in BTC: 🧵.
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Can we please stop pretending like BTC is good. It is literally the worst chain; a dinosaur. Please also save me the sanctimonious BS about decentralization; they are ruled by a "Core"!. Perverting Satoshi's beautiful vision & turning it into a plaything for the rich is shameful!.
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Why would anyone choose an L2 ecosystem over an L1 ecosystem?. Worse UX, fragmentation, trust trade-offs, bridges, higher total fees & lack of composability. ETH is coasting off its past success; usage only moved to L2s because ETH failed to meet demand. Better L1 options exist!.
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3/6) Instead in SoL it is possible to predict & therefore attack the next block producers inline. For instance attacking the next 100 validators inline instead of attacking the entire network. This attack also works regardless of scale, thereby severely reducing SOL security.
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2/6) A consequence of PoH is deterministic block creation:. There is a good reason why public blockchains before SoL did not take this route. Non-deterministic block creation adds to security & censorship resistance as you cannot predict who will create the next block.
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