/biz/ - Business & Finance

oh no please don't pump my bags!

china miners already control btc btw

Its amazing how this shit has actually been sold as bullish for Eth

>>50928444
checked

>>50928444
This. That's why PoW is so effective, because any average joe can just set up a warehouse full of ASICS and take part.

>>50928463
Can't tell if parody.

>>50928444
checked.

>>50928400
But if they do they'll tank the eth price.

>>50928444
The stake holders wanna get all the huge fees and call it a "yield". And because they have all the voting power they will never vote to lower the fees. Because then they are choosing to give less money to themselves.

>>50928622
will it? megacorps/presalers own most of eth already

>>50928463
lol just like anyone can buy a bunch of ETH instead.

>>50928700
it's too late for any random to get involved either way

>be rich
>buy mining farms
>control BTC
>be rich
>buy coins
>control ETH

what's the difference?

>>50928463
Holding BTC doesn't give you yield or any power whatsoever on the network though.

>>50929223
idiot

>>50928400
They already started to. bye bye tornado cash.

>>50929260
explain then

People have no clue how consensus and governance are two very different things. Ethereum PoS doesn't have on chain governance. nu/biz/ is incredibly tech illiterate and eat all the PoS fud so easily, go read.

>>50929223
>what's the difference?
You need to continuously invest in new mining equipment as stronger machines keep entering the market. With staking, all you need is a single (low-end) machine and you'll never have to reinvest in anything.

>>50928400
>fellow Ethereans
Just when you think the eth community can't get gayer than this they drop the big monkepox bomb.

>>50928657
Kek, they literally recreated our corrupt governmental system, but on the blockchain.

>>50929480
Its either going to become largely adopted by everyone(gl with that), or its going to death spiral.

>>50928400
>>50928444
No, the slashing mechanism actually makes this kind of attack even worse to pull off than with PoW. They effectively would nuke all their capital and have to start from scratch with a new attack using 2x the amount of funds until they bleed dry. It's not a winning battle even if they can capture some short term wins.

>>50929223
one is proof of work. the other will become proof of stake

>>50928700
>>50929246
It's the same thing. With ETH, you need to spend shitloads of money to buy a controlling share. With BTC, you need to spend a shitload of money to buy a significant share of computing power. Both suffer from the eternal problem of control by the super-wealthy. No problem has been solved. It's just a fractal of the repetition of history.

>>50928444
checked
eth is a scam

After the merge pump I'm out of eth and all in bitcoin. Buterin himself said he didn't think 'expensive' eth was a good thing. It will drop and after reading this thread I think it will indeed become some disneyfied harmless platform for banks, like Vegas after the mob days.

ethereum sucks now, they have sold out.

https://www.youtube.com/watch?v=gyP0uxxB6V8

ETH will unironically be $15,000 per ETH by 2025-2030.
Go ahead. Let go of the bags due to FUD. Dump it. I'll buy more. Thank you.

>>50931353
>With BTC, you need to spend a shitload of money to buy a significant share of computing power
that does not give you control over anything on the blockchain, contrary to eth

regulatory capture coin eth has abandoned the ethics of crypto to become the very thing it was created to replace.

>>50928400
>>50928444
eth is a giant scam

PERIOD

>>50931540
Maybe I'm mistaken about how BTC works then. Does control over hash power not give you control over the network? How is it different than with POS ETH?

>>50928444
this is literally everything in life

>>50931591
with btc your computers are only solving problems to proof the transactions. thats it, you have no control over anything. more computers : less waiting time per transaction, less reward per transaction. less computers- more waiting time for transaction in the market, more reward per transaction for the computer owner.

the market regulates itself in terms of efficiency and how many computers are there, at some point it becomes pointless to farm btc because its not profitable (summer of 2021), and when and the demand is high the rewards are higher so people farm more (January of 2021). eth being POS has no usecase, Vitalik can change anything on the blockchain whith a press of a button if the billionaire eth owners tell him so. eth+smart contract is no different from paypal+regular contract, except the anonymity part, and even thats debatable since eth operates on an open ledger.

>>50931637
You have 0 idea what you are talking about you retarded newfag.

>>50931603
This, how oblious can you be typing this out and not see thats the current state of the whole world lmao

All the miner losers are still seething, kek.
This is the best possible thing that could happen for ETH. I couldn't care less about ethics or the tech, I am in it for the money.
Crypto is a disgusting ponzi scam, period.
ETH will flip shitty ass grandpa coon coin now, and that's all that matters.
BTC network will shut down once all the coins are mined since there will be no incentive to continue paying the electricity bill. ETH chads are smart and can see the writing on the wall.
Biz seething at this is the perfect seal of approval.

>>50931662
enjoy your ride to zero. eth will be forgotten in 3-5 years. if im buying a coin with no use case, purely for dumping it later, because im speculating that the market will go up, id rather buy an obscure dogcoin and maximize my earning by 1000

>powered by chainlink

>>50928400
Effferium was a globalist centralized faggotry coin from the beginning.

>>50931678
i hold more eth then btc and i'm seething because eth sucks now. it's got blackrocks dick up its ass and its disgusting. fuck compliance. fuck this regulatory capture this is not the point of crypto. you're becoming more and more right about this all being a disgusting ponzi scam every day. but it wasn't supposed to be this way. we were lied to and violated by moneyskelly the traitor.

eh looks like 'buying shitton of eth' and dumbing btc will actually flip btc for sure in like 2 months

lets just bend over backwards for institutional money, give an inch they take a mile. and then we think we're going to dump our bags on them, sell the tops, no. they'll outsmart us, the market is theres now and they'll manipulate the fuck out of it even harder then they already do. and when all is said and done they probably wont even let your withdraw, they own it now, you buy and sell when they say you can buy and sell. fucking institutional cuck money raping our assholes

fuck your cucked institutions, fuck your regulatory capture, fuck your compliance department, fuck eth, and fuck you

>>50928400
Meanwhile, 5 mining companies that could also merge or form a cartel own Bitcoin mining and BTC devs are literally paid by the Bilderberg group. And Bitcucks think that's just fine and dandy like the good little goys they are.
Yawn. I'm going to make money with Ethereum and accumulate actually decentralized coins like Monero. Dial 8 Adam.

>>50931812
yeah eth is a whore now, only good for pump and dump. no reason to use it or prefer it over anything else when more secure and actually decentralized options exist.

this whole thing with tornado cash, even defi stabbing us in the back. et tu aave? pathetic. at a whim they can just deny anyone their money even when they did nothing wrong.
>just code your own backend bro
implying you or anyone else even knows how, implying they won't seal that shut too. implying they won't fuck us every way they possibly can and then invent new ways to fuck us. eth isn't safe

>>50931773
>>50931795
>>50931809
>>50931847
>>50931866
take meds, you deranged schizo

>>50931878
fuck off back to breddit normie if you wanna downvote wrongthink. no updoots for you here

>>50931878
Jump off a cliff communist psychopath

>>50928400
>Big corpos all over the world will fight over controlling Ethereum
>the only way to do it is by market buying a fuckton og ETH
>this is somewhat bearish

Oh no, it will really suck when Ethereum reaches a 10 trillions mkcao

>>50931967
if they want to buy more they can just manipulate a dump for lower prices. shorting for profit because they know when it dumps, then funneling that into grabbing eth otc.

>>50931690
you can cope all you want but that anon is right. block times don't vary based on hashing power mate