brypto

this seems true - related, punks specifically feel emblematic of a specific cypherpunkish ethereum L1 culture (stuff like terraforms, xcopy also fit here). the decline of $ETH the asset, and Ethereum L1 as an execution layer, has also led to the decline of this specific culture

i think i used to think punks where like, the premier scarce cultural artifacts in crypto, but this no longer seems true to me, they are specifically the premier artifacts for *ethereum L1*

so ETH L2s can "win", but if $ETH continues to underperform and people don't use the L1 then i'd still be bearish punks

great point here. 

i actually think this is a temporary blip. as l2s are abstracted away from the wallet ux we will stop seeing this as “L1” or “L2” assets and instead see them as “ETH” assets with varying degrees of security and censorship resistance 

bullish

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