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23880874 No.23880874 [Reply] [Original]

I'm not gonna pretend I know shit about dick, but I do know I like hodling and memes.
When ETH2 is released, will ETH dump from people moving onto the new currency, or will there be any reason that it will pump?

>> No.23880907

>>23880874
Same thing

>> No.23880908

>>23880874
Define "released", because the ETH2 deposit contract is now live on the ETH main net. It's being rolled out in phases, and I expect every phase release to cause speculative pumps.

>> No.23880926

its going to create a pump.

I will explain it to you desu.

Ethereum 2.0 is creating a proof of work platform, which will be locking up a significant amount of eth to be locked up (32 per validation to be exact)

What this does, is that it takes away a large amount of ethereum from the market to be purchased, which will create a higher demand x ethereum getting mined.

TLDR

Eth getting locked up = costs more to buy less available

>> No.23880938

>>23880874
there won't be a new token. it's just that you can't get your coins back to ETH1 once they're on ETH2, maybe there will even be a bidirectional bridge such that you can move ETH freely between both chains.

>> No.23880995

>>23880874
I might lock my 32 eth just before december, for the meme pump. Maybe others are planning the same?
Do I need to host my own node or is there any cloud platform I can use or smth? Can I just delegate it somewhere?

>> No.23881023

>>23880938
but if there's 2 seperate chains, that means it's 2 seperate coins? How can one coin exist on 2 chains..
wbtc and btc are 2 coins

>> No.23881041
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23881041

>>23880926
Thanks G
>>23880995
From what I've heard if you commit 32 ETH you can't get it back for some years

>> No.23881066

>>23880938
There will be two "tokens" if exchanges and staking pools offer IOUs

>> No.23881070

>>23881041
oh no!!!
>won't leave a dent on my stack
but if many people do the same, the amount staked would increase significantly and cause some pump I'm sure
Question is, how many people are planning this?

>> No.23881087

>>23881023
Basically, ETH 2.0 transactions will be frozen for an indefinite period of time even while stakers accrue block rewards on the new chain. I absolutely think that IOUs will be traded publicly before that though. There's no reason why they wouldn't.

>> No.23881112

>>23881023
you can have the same coin on multiple chains as long as the chains make sure that at every time the coin is only available on one chain. when sharding is introduced there will be 64 chains but still only one ETH token.

>> No.23881130

>>23881087
and once the eth2.0 transactions start rolling, the old one will still exist and we will have 2 coins

>> No.23881149

>>23881112
by this logic, wbtc and btc is the same coin (both chains make sure it's only available on one chain)

>> No.23881266

>>23881149
this is a good analogy

>> No.23881301

>>23881149
they effectively are, thus the price parity. if you convert ETH1 to ETH2 then you will always get exactly one ETH on the new chain for each ETH that you sent to the contract on the old chain. it's therefore impossible that the "ETH1 token" will dump while the "ETH2 token" will pump, because people can just convert them 1:1 and could therefore get free money from the price difference.