THE merge, verge, splurge. Splooge (literal ethereum transitional names)

2,571 Views | 19 Replies | Last: 3 yr ago by Adverse Event
Adverse Event
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11:17p, 8/18/22


Allegedly the biggest transition of a not bitcoin thing called ethereum is going through a transition where it will identify as decentralized through a process called proof of stake.

Is anyone actually excited about this transition? Sounds absolutely terrifying to me, especially if I had eth locked up for a year post merge.

Don't expect sympathy. Fortune favors the bold but the opposite isn't far off either.

Someone please tell me I'm being overly cynical.

Different threads on the topic (non twitterers be damned)













Separate thread:






Lubin courting WEF









Alright. I posted some good reads. I'm gonna be here watching and enjoying the Lulz.

Don't be someone else's exit liquidity.
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exp
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12:15a, 8/19/22
AG
I feel like that entire ethereum community is marching headlong into an ambush and they know it, but are too afraid to stop it.

They will complete the merge and Eth will become a captured coin.
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exp
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12:30a, 8/19/22
AG
Also this is not a good look. This is Sam Harris level bad



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MRB10
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6:40a, 8/19/22
AG
No comment here but I'd like an invite to the party LatinAggie is going to throw if ETH orchestrates it's own demise through The Merge.

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jagvocate
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9:04a, 8/19/22
AG
****coins

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YouBet
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9:47a, 8/19/22
AG
I'm not sure I understand the full context of what's about to happen here with ETH even after reading those tweets, but I do know I want no part of it if I understand the last half of those tweets with some ETH dude advocating for CBDC to take over everything.

Is there a 3 sentence summary of what's happening?
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9:53a, 8/19/22
YouBet
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In reply to [removed post] • 9:54a, 8/19/22
AG
ac04 said:
YouBet said:
I'm not sure I understand the full context of what's about to happen here with ETH even after reading those tweets, but I do know I want no part of it if I understand the last half of those tweets with some ETH dude advocating for CBDC to take over everything.

Is there a 3 sentence summary of what's happening?


ETH is and always has been a centralized pre-mined ****coin with monetary policy that is determined by people instead of math. those people caved to ESG pressure and decided to switch to a proof of stake consensus mechanism. this will only further centralize control and could bring the whole house of cards down.
When I learned that 60-70% of ETH nodes are on AWS, that was all I needed to see and I've had it on ignore since then.
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Adverse Event
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11:36a, 8/19/22








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tysker
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11:42a, 8/19/22
AG
ETH was always the preferred chain for systems needing centralized registration systems. The OFAC-forks may provide legitimacy and protection to regulated agents.
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Adverse Event
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In reply to tysker • 11:54a, 8/19/22
But for what gain and at what loss?
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tysker
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In reply to Adverse Event • 12:11p, 8/19/22
AG
Exactly. The marketplace will decide. Some users want the legitimacy and protections that a more centralized system can provide. It seems some use cases may even require the centralized block production.
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Adverse Event
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In reply to tysker • 1:35p, 8/19/22
tysker said:
Exactly. The marketplace will decide.

Some users speculators have listened to the lute of the VC/WEF/Central Bank/etc pied pipers and believe they want the legitimacy and protections that a more centralized system can provide. (the coin is super cheap and if it catches on it'll be to the MOON)

It seems some all use cases may even require the centralized block production. outside of bitcoin have been found to be lacking severely.
fify
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tysker
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In reply to Adverse Event • 1:58p, 8/19/22
AG
Maybe so. Other chains, at least right now, seem need require super specific handling and/or seem to have significant flaws or dangers to make them widely functional. I've said BTC appears to have perfectly solved its use case, I'm just not certain its use case is very useful.
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Whirligigs
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4:58p, 8/19/22
Ahh the FUD is here - greatness. Time to grab some more.
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Troglodyte
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10:32a, 8/20/22
AG
If I don't understand anything in this thread, I should probably sell my ETH, right?
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YouBet
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In reply to Troglodyte • 10:34a, 8/20/22
AG
Troglodyte said:
If I don't understand anything in this thread, I should probably sell my ETH, right?
Yes, and this should usually apply to any investment but probably most importantly to investments being made in a new frontier such as this. Just my opinion though.
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Adverse Event
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In reply to Troglodyte • 11:44a, 8/20/22
Take the extra work to grasp what is being discussed here and then figure out your own plan of action with this new environmental data.

3 choices
Do nothing because you're comfortable with your position
Buy more until you're comfortable with position
Sell until you're comfortable with position
(4th, learn nothing, continue blissful ignorance and YOLO in the wind)
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Troglodyte
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12:41p, 8/20/22
AG
I dipped my toe into crypto mining BTC. I have done EVERYTHING wrong. I started mining at $8k, sold at $10k, kept my cash in my Coinbase acct, bought ETH at $3k. My machine are about at the end of their useful life and I have still doubled money. Of course, I could have 10x but I'm learning.
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Adverse Event
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5:58p, 8/20/22
Gary gensler out to smoke a bunch of defi ponzis soon.

https://www.wsj.com/articles/the-sec-treats-crypto-like-the-rest-of-the-capital-markets-disclosure-compliance-security-investment-mutual-fund-protections-blockfi-bankruptcy-bitcoin-11660937246
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