Could Ethereum Collapse on Day 1 of the Merge?
7 sats \ 6 comments \ @kilianbuhn 22 Aug 2022 bitcoin
I think we all agree that PoS is piece of shit 💩💩 and the long term incentivation of PoS is the worst for small users, the risk of censorship by rich people huge and the risk of a 51% unacceptable.
But do you think it could literally fail with the first few blocks? What if a big staker tries a maneuver in the first few blocks? What if the mass of poor users just continue to use the PoW chain.😂😂
I just want to see the shitcoin ship burn 🔥like the Hindenburg 😂. Anyway 🍿🍿
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3 sats \ 2 replies \ @falsejaguar 22 Aug 2022
The miners gave ethereum value. Without mining it's like a car powered by money and not gasoline anymore. Makes no sense. A snake eating its own tail.
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0 sats \ 1 reply \ @kilianbuhn OP 22 Aug 2022
Will the snake slowly orobourus itself or will it swallow itself up on day 1? 🐍🐍
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0 sats \ 0 replies \ @falsejaguar 26 Aug 2022
If switches to becoming an equity security essentially. Pay to play and it only has the value it can create as opposed to the value of the work done as a baseline (energy converted to coins instead of empty fiat converted to coins). Like instead of gold mining, only being able to "stake" gold. Hahaha so dumb.
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0 sats \ 0 replies \ @02174b3c39_lntxbot 7 Sep 2022
It could, but it isn't likely.
And if it does, don't think the public will make subtle distinctions like that between Ethereum and Bitcoin, it's all crypto to them and there'll be an indiscriminate condemnation of all crypto, as there was after Luna, if Ethereum stumbles and takes down it's very large and diverse ecosystem.
We need Ethereum to fail slowly with plenty of time for people to reach the exit.
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0 sats \ 0 replies \ @Ge 23 Aug 2022
We will see if it even ever happens so many broken promises and push backs from them. It's incredible people still fall for it....Hoping that when that happens btc dumps to the teens and elimates more shitcoins :) see how these companies build in a bear market where the common man is to scared to dive into a speculitive securities.
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0 sats \ 0 replies \ @badabing 22 Aug 2022
I'm expecting little resistance against the PoS gov-captured chain. Number will go up, and ETH maxis will conspire with govs for a full-on ESG attack on Bitcoin.
On the other hand, what would an ETH crash mean for Bitcoin? I guess everything will crash with it (alts more than btc).
So either way it's bad short term for bitcoin's price, but good long term?
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