3 sats \ 1 reply \ @k00b 7 Aug 2021
Building on Ethereum is like building on a foundation of worms. Sure you might be able to erect a building there today, but who knows where the worms will be tomorrow.
You have to trust that the Ethereum Foundation is going to do what's in your best interest, which maybe has better incentives than some FAANG company, but it stands in direct contrast to Bitcoin which only changes when we all consent.
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2 sats \ 0 replies \ @gmd 8 Aug 2021
It's interesting that they could theoretically rug pull you at any time. But I suppose the same could be said about so many other platforms on which successful businesses have been formed- Amazon, FB, etc. It doesn't seem to have stopped the number of developers flooding to this space, although it's not clear to me yet the net value add being created from most of this stuff, but then again I'm not as bullish / visionary about the decentralized universe as balaji et al, outside of sound money.
Fast-iterative and possibly reckless startup approach vs more open source and principled... will be interesting to watch.
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3 sats \ 0 replies \ @0268486dc4 OP 7 Aug 2021
Everything I've wanted to express to those who inquire.
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2 sats \ 0 replies \ @ugmug_old 7 Aug 2021
Excellent article. Only thing it's missing is the ruling class claims that the token is fairly distributed distributed now, since they've had time to dump on the subjects. Also would be good to note that the premine's issuance is still greater than all the ETH mined since the genesis block.
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1 sat \ 0 replies \ @spain 9 Aug 2021
Nicely written! Very readable. I really learned something (had no exposure to this world yet). Someone should make a short film/animation out of this!
Thank to you and all other straight Bitcoiners for saving me from even touching this stuff already a few years ago when I started wondering what is this "Bitcoin&crypto"… Really. I am thankful I got on-boarded at a later date and for missing all the crypto hype back in the days.
Stay humble! :)
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