0 sats \ 3 replies \ @sandbeach123old 21 Aug 2022 \ on: The Merge continues to not look good. Censorship is coming to Ethereum. bitcoin
if that coin goes full 100% compliant with the US regulations and the WEF, that may actually work. It will not be hard self sovereign money though. And I don't see countries adopting eth as legal tender. That would be like adopting <USD+extra surveillance> as legal tender.
That's where this ends up. Ethereum has too many centralising points of failure to survive in an adversarial environment, so the winning strategy is to let it get captured and become a banker coin.
Perhaps that's been the plan all along? I find it incredulous that only now developers and influencers are openly panicking about the risks of censorship, less than a month before the merge. These risks have been self-evident for years.
To be honest the only reason I pay attention to Ethereum is because I think it's likely to become an attack vector for Bitcoin. Big players are likely to back the protocol they control, and vilify Bitcoin as being anti-ESG / dinosaur tech / unsustainable fee market / etc.
reply
I guess it will be some form of CBDC, easy to use and fully controlled by the state. Most people won't care since approximately 100% of participants have a firm ideological commitment to being in it for the money.
reply
Yeah, it is disgusting. Centralized security, centralized leadership, centralized wallet metamask.
reply