š“ā Chainletter
Welcome to the Chainletter.Ā
Our new weekly newsletter covers Chainforest - a recap of our latest happenings, our membersā accomplishments, and our projects to come. Weāll also offer a collection of the best threads and articles sparking conversation within our Discord.
This Week - The Question is, to Buy a Punk, to Not by a Punk?, Urbit & Community Developments!!
ā”ļø Bitcoin .vs. Ethereum
Holy wars are nothing new to crypto: Bitcoin over Ethereum, Ethereum over Bitcoin. Thus, it is always nice to see a nuanced, respectful engagement between those looking to develop the best risk-reward asymmetry for their portfolio. Below youāll find a follow up from the Bitcoin vs Ethereum thread stitched together last week between Chainforest Users.
On Ethereum and its non-deterministic supply
On Bitcoin, the Economic Security of its TXN Fees and the Cost of Entry vs Ethereum
To dive even deeper, the BTC v ETH allocation thread has been dug up from the archives for this weekās feature.
š¤ To Buy or Not Buy a Punk?
WHAT THE PUNK? Is the question floating around the NFT space lately as CryptoPunk floor prices drop, signaling a possible flippening of BAYC [Bored Ape Yacht Club] to become the NFT collection with the highest floor prices to date. Here is a comparison between the two projects.Ā
Regardless of personal art preferences, weāre looking at this from a long-term investment point of view and the two projects have very different investment theses. Punks are culturally and historically relevant given they are credited as the oldest / most popular NFT, whereas BAYC is focusing on utility supported by a roadmap, CC0 (Wondering what this is? Check this article in the context of Punks vs Apes), and content. Is one better than the other? Nope, they are simply different approaches, which weāll expand on below.Ā
Punks
Holders arenāt fussed by CC0/IP & commercial rights and care about the historical relevance of the project above all else and donāt feel the need to add further utilityĀ
Holders expect the overall art market to increase via NFTs and Punks will valuable as long as NFTs are valuableĀ
Apes
Holders are hype that IP rights are limited to individual owners and allow further monetization of their initial investment via derivatives (merchandise, content, branding) of the artĀ
Holders expect BAYC to stay relevant and increase in value through partnerships, exclusive events, and gamified participatory community & art initiativesĀ Ā Ā
With that said, one project is not more important than the other given they have entirely different purposes. If youāre looking for a more passive investment that carries significance then Punks may be the way to go. However, if you want to leverage a super active community focused on utility then Apes and other projects are likely a better fit. With that said, both projects should be supportive of each other to bolster the overall NFT market and community. There is no reason these two projects canāt coexist while finding mutual, yet different, types of success long-term. WAGMI!
šŖ Urbit Learning Group
2PM EST, this coming Thursday, December 16th, Chainforest will gather to examine Urbit. A two part, groundbreaking project that has risen over the past 20 years, the Urbit foundation tackles the very architecture of the internet, looking to replace it with a decentralized operating system to facilitate sovereign software and corresponding digital identity to match. Conversations will be guided by experts on the project as well as individuals working directly on Urbit and its upcoming projects.
Some Resources to prepare for the learning group:
Understanding Urbit | Podcast on Spotify
Listen to Understanding Urbit on Spotify. As a highly secure personal server, Urbit aims to deliver on many of the ideas pioneered by the Cypherpunks. After nearly 20 years in development the platform has begun a phased launch. Urbit gives us persistent digital identity, a new benchmark for secure computing, and maybe even an open source response to modern social computing platforms like WeChat and Kakaotalk.
Urbit for Normies ā¢ Blog ā¢ urbit.org
A laypersonās guide to the coming new internet.
If you want to learn more about Urbit, visit https://urbit.orgCredits:Script by ~minder-foldenVideo by ~rivpyl-sidfylMusic used in this video:Khan & Polo - Sā¦
š“ DAO Dashboard: Chainforest at Large
A massive congratulations goes out to Parker Jay-Pachirat for making the NYC FinTech Womenās 2021 list of Inspiring FinTech Females!
Wallet security has been a hot topic lately, and itās as important as ever, especially when a wallet is tied to a personal ENS or high value NFT. Join the conversation in #wallet-security, under Tech/Dev/Infra.
CF is talking about Proof of Stake, and Yousef wrote some great thoughts on the essay āProof of stake is a scam and the people promoting it are scammersā.
After some confusion, Ed explained the options, puts, and calls needed to understand this tweet about the Ribbon Eth Put Selling Vault.
Joao and Tomas have been busy brainstorming an improved onboarding flow inspired by the Blank community, in which the onboarding flow is run entirely within discord, including the application and approval process. This would be done through having a few public entry channels where potential members apply publicly to the existing CF community, and are auto approved as members based on predefined criteria, i.e. number of thumbs up reacts or votes from existing members on their post. Theyāre looking for community feedback, so let them know your thoughts here!
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