/biz/ - Business & Finance

>>53641524
>> ETH with mega burning ponzi nomics and staking scamnomics!!!!!!! YUM!

>>53641552
>Its real yield you retard but you dont even know what it is likely

>>53641574
>> muh scam money terms. OOOOOOO I AM LE FINANCIAL GUY. fuck off yieldboomer. Money in its entirety is a scam

Imagine paying miners hundreds of millions of dollars ever year.
Fuck that Bitcoin scam

>>53641524
kys OP, vitalik holds the majority of this shittoken that is also sponsored by JPM, you will get dumped.

>>53641602
So you dont understand why it is real Yierld ok

>>53641609
>hundreds of millions of dollars
Uhm sweety you need a zero more

>>53641618
he also premined 70pct of the token and then gave a lot of it for free to his friends and people he wanted to control the network when they would eventually move to proof of stake. yes they did decide before the PoW based system was live they would move to proof of stake later. ETH was supposed to be just a quick money grab but it blew up so vitalik decided to build out his scamproject

>>53641609
yeah instead the validator market should not be competitive and churned but should be monopolized by limited supply stock holders, nothing can go wrong there
>long range attack? What's that?
>I can't hear you I'm saving le environment!!

>>53641602
So you dont understand why it is real Yield Ok

>>53641623
>> MUH BOOMER YIELD
i don't care dude. its bullshit

>>53641629
>ETH was supposed to be just a quick money grab but it blew up so vitalik decided to build out his scamproject
>I make things up

>>53641632
>>53641639
Its still read yield unlike 98% of the rest keep seething
People paying for transac tion fees are the source

>>53641618
>you will get dumped.
I am already getting dumped, poor ethfaggot me. :(

>>53641524
Ethereum is a centralized shitcoin that began with a massive 72 million ETH premine. Ethereum launched with 12 million ETH given to the developers and 60 million ETH sold sold for BTC as a part of its "initial coin offering" during the presale. The Ethereum developers purposely misled investors by suggesting that there was merely a 12 million ETH premine and ignoring the 60 million ETH that they sold during the presale, misleading total supply graphs in their prospectus. This is a serious concern in light of Ripple getting sued by the SEC due to XRP being an illegal security, which means in due time we should expect the SEC to also go after Ethereum developers and the Ethereum foundation for creating and selling an illegal security (ETH is a security because it passes the Howey Test).

https://i.imgur.com/HpBR7C5.mp4
Here is a clip of the co-founder of Ethereum, Joseph Lubin, describing how they allowed whales to use multiple fake identities to buy as much ETH as they wanted during the Ethereum presale. "A person can buy with any number of different identities. We may limit the unit size of a single sale to make it easier to disguise. So that nobody scares people with an enormous initial purchase. If you are a whale and you plan on investing several million US dollars worth, then you can do so with with multiple identities."

>>53641681
wow!

>>53641681
Vitalik and many others in the Ethereum space are known scammers. Vitalik is not an idiot and he knew better than to pitch something as ridiculous as quantum mining to investors. Another example is pitching turing completeness as the valuable aspect of ETH, now pivoting away from that and saying it was never about turing completeness but "rich statefulness."

http://www.newsbtc.com/2016/08/17/gregory-maxwell-vitalik-buterin-ran-quantum-computer-scam/
https://www.youtube.com/watch?v=DkUpZkeqhF4
https://medium.com/bitcoinerrorlog/vitaliks-quantum-quest-9e6af6570f23

The Ethereum community has endorsed radical changes and pivots, trying to find narrative fit and the Ethereum leadership team is more willing to embrace alternations to the core objective of the protocol in their search for product market fit. They've literally tried world computer, dapps, crowdfunding, NFTs, DeFi, open finance, radical markets, store of value, and more. Ethereum is an aggregator of these narratives, trying each one out over the years in an attempt to seduce people that are uneducated about cryptocurrency. But there is no persistence of a singular narrative when it comes to Ethereum and they are still trying to find product market fit even after all this time.

Ethereum is a pointless project that will lead to no efficiency because there is no censorship risk in code execution. What purpose does Ethereum solve if it comes with a horrible trade off of an extremely large attack surface and huge scaling problems? They also advertised immutability and unstoppable contracts that were then immediately reversed with multiple hard forks.

>>53641693
Unlike Ethereum, Bitcoin's issuance rate and maximum supply are clearly defined and they will never change. Ethereum's inflation rate, maximum supply, and final algo are not even defined and people are investing in this. This is insane and it basically amounts to faith in Vitalik and his team. While at the same time newbies are misled into believing that Ethereum is decentralized. Meanwhile, Vitalik has full control over the whole project. Does anybody else here remember the DAO smart contract? Someone found a way to drain ETH and some of Vitalik's buddies lost a ton of ETH, so he rolled back the entire blockchain because Ethereum is centralized, Vitalik is the leader of it, and everyone in the Ethereum community agrees with him, so he can do whatever he wants with Ethereum. He chose to change the name of the real Ethereum blockchain to Ethereum Classic and calls his rolled back blockchain Ethereum. Not long ago ETH miners said they weren't going to follow Vitalik into adding a ponzi style transaction fee burn, so Vitalik, the leader of Ethereum, called their consensus a 51% attack and changed the rules.

The fact that Ethereum has switched over to staking rewards also has serious tax implication in many countries where merely holding your ETH being staked will expose users to legal tax obligations. Exchanges for example must send a 1099-MISC to the IRS on behalf of any American user earning $600 in a year. Proof-of-Stake also makes it so the already rich whales control the network and will be collecting compounding interest to dump on the open market.

>>53641524
Explain to me how PoS, in particular ETHs system isn't a ponzi. Go ahead I'll wait. I genuinely would like to hear the mental gymnastics on this

>>53641681
>>53641629
>gets called out, changes ip and continues

>>53641702
Ethereum has already failed to scale as expected and so they have hard forked again and switched to a proof-of-stake consensus algorithm and started over from scratch (formerly called Ethereum 2.0). This can only be done because Ethereum is centralized. I have no expectation that this new Ethereum will be any more successful than the previous Ethereum and this new Ethereum is still a centralized scamcoin that is controlled and ran by scammers.

https://i.imgur.com/mxIzBYK.mp4
Vitalik laying the groundwork for another scam, Ethereum 3.0!

https://www.youtube.com/watch?v=wUUVlatCvp0
Ethereum scam part 1 - Here we focus on the Ethereum token pre-sale which to anyone with any financial experience, is an obvious sale of an unlicensed unregistered security.

https://www.youtube.com/watch?v=mCiHTJRbIf4
Ethereum scam part 2 - Here we take a look at the value & business proposition of Decentralized Smart Contracts and why it's one of the dumbest ways to make your business more efficient.

https://www.youtube.com/watch?v=BgFXqVpGDNg
Ethereum scam part 3 - The Ethereum scam part 3.

>>53641719
https://medium.com/startup-grind/i-was-wrong-about-ethereum-804c9a906d36

https://www.youtube.com/watch?v=qxtVLjCxPDU
Ethereum and Ethereum Classic are Scams and so are the developers that build on them

"The Ethereum blockchain growing 85 terabytes per year is totally fine. If you have even one person that just keeps buying like a hundred dollar hard drive like I think once every month then they can store it." –Vitalik Buterin
Source: https://i.imgur.com/1FZdLC5.mp4

https://s3.eu-west-2.amazonaws.com/john-pfeffer/An+Investor's+Take+on+Cryptoassets+v6.pdf
Institutional investors have no interest in ETH and this report titled "An Institutional Investor's Take on Cryptoassets" details why. This report even explains that when Ethereum's fees get too high and things don't go as planned, users will switch (and are switching) to use a different centralized cryptocurrency. You can already see this happening right now with all of the "ETH killers." That report also explains why institutional investors are interested in BTC.

SEETH-O-Meter is up in the sky in this thread, I should buy another 100k effrumz!

>>53641727
Over 99% of altcoins were created to enrich their founders and over 99% of them have no future. None of them are as secure, as decentralized, or launched as fairly as Bitcoin. Satoshi created Bitcoin to allow online payments to be sent directly from one person to another without trust or permission from anyone else. Bitcoin had no premine, no developer fund, no developer tax, and no leader. Satoshi never sold, made no profit, got no fame for his real identity, removed himself from the project, and he gave a two month heads up before he launched Bitcoin. Bitcoin is decentralized and trustless with the full nodes in control of the protocol rules. And Bitcoin doesn't have a person, CEO, or company in charge of it or leading it.

Satoshi took careful steps to make sure that the world would look back and observe that Bitcoin was launched fairly:

- No premine (Satoshi didn’t grant himself any coins)
- Gave a 2 month heads up before launching the network (no sudden release and no mining before release)
- Coins had no value for 1.5 years so they circulated freely (it's not even possible for an altcoin to replicate this)
- Satoshi never cashed out (unlike every altcoin founder in history and I bet it stays that way for eternity)

>>53641715
Imagine triggering this retard with a single picture, they are knowing it deep inside :D

>>53641727
>>53641719
>>53641704
>>53641702
>>53641693
>>53641681
>>53641639
>>53641630
Call the SEC guys, Your bags will need it!

>>53641730
This eth will flip btc and nobody will care about PoW in the future.

>>53641737
>Satoshi didn’t grant himself any coins
and somehow over 1M btc magically ended up in his wallets

>>53642496
stop asking questions goy, put up a laser eyes and spew toxic shit on the internet!

>>53641681
>>53641693
>>53641702
>>53641719
>>53641727
>>53641737
Kek'd. Maxis never disappoint with their seetheposting.