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51145555 No.51145555 [Reply] [Original]

I don't get it. Mining sell pressure going to zero seems bullish, until you remember that the biggest miners last year all went full retard borrowing and hodling against their own stash hoping prices would go up forever. Now they have a huge pile of dollar debt they need to repay and can't make profit fast enough staking. They also have no more long term incentive in keeping prices steady for a token they can't even mine anymore. First one who blinks makes the most money, so why won't they dump?

Eth inflation going down also seems bullish, but cost to produce new eth for validators is basically zero, so all of what they make is "free money" when sold at any dollar price. Why won't validators just dump for as much money as they can get, especially if miners are also dumping?

The tech is better and encourages adoption, except what adoption? Its biggest use case is just defi yield farming degeneracy and that train left the station long ago once people realized under magic internet money box ponzinomics their own investment was the yield all along. If prices do surge in the short term due to supply constriction from a validator price fixing cartel, then users and dapps will just leave for a centralized scam chain like BNB that's cheaper to use. No actual users around wanting to pay high fees long term means eth can't become a fee earning service, but remains a bagholder game of hot potato, and those always end real well for everybody.

So why isn't the merge the mother of all catalysts for a megadump? Somebody explain this shit to me. How is this shit not radioactive?

>> No.51145629
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51145629

>>51145555

>Somebody explain to me why the eth merge is bullish

>I don't get it. Mining sell pressure going to zero seems bullish, until you remember that the biggest miners last year all went full retard borrowing and hodling against their own stash hoping prices would go up forever. Now they have a huge pile of dollar debt they need to repay and can't make profit fast enough staking. They also have no more long term incentive in keeping prices steady for a token they can't even mine anymore. First one who blinks makes the most money, so why won't they dump?

>Eth inflation going down also seems bullish, but cost to produce new eth for validators is basically zero, so all of what they make is "free money" when sold at any dollar price. Why won't validators just dump for as much money as they can get, especially if miners are also dumping?

>The tech is better and encourages adoption, except what adoption? Its biggest use case is just defi yield farming degeneracy and that train left the station long ago once people realized under magic internet money box ponzinomics their own investment was the yield all along. If prices do surge in the short term due to supply constriction from a validator price fixing cartel, then users and dapps will just leave for a centralized scam chain like BNB that's cheaper to use. No actual users around wanting to pay high fees long term means eth can't become a fee earning service, but remains a bagholder game of hot potato, and those always end real well for everybody.

>So why isn't the merge the mother of all catalysts for a megadump? Somebody explain this shit to me. How is this shit not radioactive?

>> No.51145649
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51145649

This guy hit the nail on the head

>> No.51145741
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51145741

>>51145629
So the answer is maymays? hfsp I guess

>> No.51145756

>>51145741
You're fudding his bags, you want him to accept he's holding flaming hot garbage?

>> No.51145810

>>51145756
I don't want him to accept it, I want him to explain to me why I'm wrong. I'm far from the smartest person around so if I'm seeing this then what the hell am I missing? Surely eth hodlers can't be that full of dumb money.

>> No.51145821

>>51145555
It isn't, after merge Ethereum will finally settle between other PoS shitcoins with marketcap 10 times smaller.

>> No.51145829

>>51145555
What fucking "merge"? Is ETH going to merge with.... what? with itself? Try making some sense if you want anyone to take your thread seriously.

>> No.51145848

>>51145555
If btc dumps eth will get chumped

>> No.51145912

>>51145829

Its a fork but they've stuck the "merge" label on it and it stuck I guess

>> No.51145916

>>51145555
Stop telling everyone about the dumpening. Shitposting is ok but there's no need to make a thread about it

>> No.51145939

>>51145912
Okay, redditor.

>> No.51145987

>>51145829
Eth is merging their proof of work chain to the proof of stake "Beacon Chain" consensus layer. So yes it is merging with itself. That's what the devs are calling it and that's what everyone else is calling it too now.