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102 sats \ 0 replies \ @scampy 13 Sep 2022 \ on: Do you care as a bitcoiner about the upcoming merge? bitcoin
I'm interested, but IMO the merge itself will be a non-event. It'll probably launch, maybe with some bugs.
The real drama is going to come after the fact, namely:
  • How much Lido continues to dominate validator share (currently at ~33%). They recently voted against self-capping.
  • The great unlock of funds in the beacon chain. The code or even specification of this haven't even been written to my knowledge. Do devs even have an incentive to unlock funds as it dillutes circulating supply? This is years away IMO.
  • Censorship as > 50% of block builders are entities which can be easily pressured (exchanges + Lido).
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