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And everything I predicted about Eshekels turns out to be accurate.

The problem with that article is they assume a cost basis of value, which is entirely bullshit.

But yeah. Ethereum is way too connected to JP Morgan. Any time a crypto currency changes their protocol it demonstrates an ability to be captured by the state, not just for itself, but for all cryptos, and so it is a bad practice. The protocol should be immutable, because if you own any currency at all it is just a position in a set protocol.

Proof of stake also has the problem (depending on how you set it up), of allowing a few to monopolize new coin issuance and fees.

If you want to do proof of stake right you keep proof of work, but also have the submitted solution include a largish utxo that will be invalidated if they lied, rather than have a large group stake themselves into a new class.

Otherwise proof of staKe is just an excuse for a crypto currency to be taken over by a corporation. Remember that it is miners who "accept" changes in protocol (something that shouldn't exist anyway). If the miners are now consolidated in a few corporations then protocols can change rapidly and in bad ways.

Fuck Ethereum, but not because cost basis of value exists.

Coming up next:

All other crypto is too dangerous because it's used to fund right wing extremists & terrorism, they must be made illegal.

All coins eventually go to zero. But Bitcoin is the only coin that came from zero, and that's important.

I instinctively sold all of mine before the crash and merge.

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Ethereumclassic is keeping mining and remaining decentralized.
It has already doubled since July has all the miners and smart users switch from Ethereum to ethereumclassic

Converting layer-1 of the blockchain to PoS sacrificed security to gain speed. This will impact all layer-2 protocols that build on top of the Eth blockchain. Cryptocurrency was born out of the need for a secure & free (as in freedom) currency, not out of the need for faster transactions.

For folks who value security over speed, this switch to PoS just devalued the entire Ethereum ecosystem. Its price in USD, however, will continue to pump because it now has more value to those who now control it, and they will happily pour money into it while simultaneously market it to the commoners to do the same. Trading Eth is more like playing russian roulette now.

Since July when this started to become widely known that ethereum was going to go to the dark side ethereumclassic has doubled in price in comparison to ethereum and I think it's reasonable to assume that etheriumclassic will assume much of the use cases in terms of online contracts and things like that and it's already assuming most of the mining activity and therefore it's reasonable to assume that it would approach and perhaps even at some point surpass the current value of ethereum. So given that today ethereumclassic is floating around $35 having already doubled since July when all other cryptocurrencies have pretty much been stagnant I think there's possibly a lot of upside in ethereumclassic because ethereum is trading in the $1500 range repeatedly and of course it topped out at a multiple of that back when everything peaked.

And this ethereum classic movement is a separate thing from cryptocurrency market in general which of course is just waiting for the next halvening in Bitcoin which will happen in about a year which always in the past five cycles has caused the next big run in Bitcoin and then in all cryptocurrency. So this movement in ethereum classic away from aetherium is a separate thing in exists on its own without waiting for that Bitcoin action

That was supposed to be lcx :(

Didn't read, still love you sf9k!

someone is mad about their mining rigs becoming useless