Ethereum is collapsing

Bitchud, stay alert! I have a chart for you, i ll present it in 4 hrs!

Meanwhile, BTC hits ATHs literally twice a day every day.

WTF.

btc was always the correct play because this is all fake internet money but belief in one tender is much more powerful
however eth has always been strong and who knows what that schizo buterin is waiting for, the entirety of eth might see a facemelting boost compared to sol

did you even look at ETH today?

Never understood why people FUD a stablecoin like ETH. If ETH goes to $10k, it brings ALL the alt / jeetcoins with it and always have?

Must be a Rothschild thread starter...

Vitalik is a snake oil salesman and people are retarded. Not buying but also not shorting. I just don't touch it.

Actually no. I've been watching MSTU literally all day since opening.

You goy must swap it to solana

Rubbing hands meanwhile restarting his "blockchain".

This is merely a blip in an otherwise uninterrupted todnwards trajectory. youtube.com/watch?v=NOKyPmOLcZQ

VCs have a shitload of SOL they acquired cheaply ready to be dumped
I wonder who could be behind all the FUD

ETH/BTC broke below a 1.5 year wide descending triangle in mid 2019 when BTC pumped to $13k
Based on TA, ETH/BTC should have gone to 0... but that was actually the bottom and ETH/BTC pumped by nearly 5x after that

It was proof of work back then. Different game. BTC is king, bow to it. Smart money is out of ETH.

I knew you are an insufferable maxi

How does Ethereum being PoW or PoS change anything? The chain is secured and consensus is reached with either one. If anything, it has lower inflation with PoS.

No underlying production cost = no underlying value. Might as well be chuck-e-cheese tokens.

This expensive production cost of BTC actually bleeds away value from the chain. Electricity companies and mining hardware manufacturers are making profit with BTC inflation. If something is more expensive to create, it doesn't make it more valuable, just inefficient. Is a hole dug by shovels more valuable than one dug by heavy machinery?

You are completely wrong but I respect your opinion to be completely wrong. That being said, it is delulu to think that increased production cost REDUCES value. I remember very well how the ETH foundation tried to shill this as a "tripple halving", but the fact that ETH started dumping hard against BTC exactly when the merge happened says a lot.

You are completely wrong but I respect your opinion to be completely wrong.

Can you point out how I'm wrong?

it is delulu to think that increased production cost REDUCES value

In crypto it does, because increased production cost (mining costs) leads to more value bleeding away from the chain (electricity costs, mining hardware costs).

tripple halving

If you look at issuance there's nothing wrong with this statement.

the fact that ETH started dumping hard

Not an argument against issuance numbers.

ETH

relentless fudding everywhere

I just sold earlier today before the pumping started, finally buckbroken by years of hodling

it will guaranteed hit 4k before the week is over

go on without me lads

At least its price action is not nearly as shitty as monero, a coin that also attracts midwits

How does Ethereum being PoW or PoS change anything?

PoW means it's
-permissionless
-it can recover from 51% attacks
-it is unique and cannot be copied.
PoS means it's not those things.
Simple as

You also got slashing which is basically mob rule instead of nakomoto consensus.

-permissionless

So is Ethereum PoS (and most other PoS implementations).

-it can recover from 51% attacks

See picrel part of vitalik.eth.limo/general/2020/11/06/pos2020.html
tl;dr: PoW can only recover from 51% by switching consensus algo and all those options are bad. In an apocalypse scenario PoS can UASF.

-it is unique and cannot be copied.

What do you mean by this?

Do you have a better solution for nothing at stake problem? I think slashing is a much better repellent for attacks than simply losing some electricity like in PoW.

basically mob rule

How? It's a very credibly neutral way of punishing double signing.

So is Ethereum PoS (and most other PoS implementations).

It's not faggot. You have to ask someone for coins to stake if you want to push through your transaction.

PoW can only recover from 51% by switching consensus algo

Wrong. An attacker might rent miners for a short attack but after that the chain recovers just fine. If someone borrows 51% of stake it's over unless slashing which might as well be proof of vitalik or whoever makes the slashing rules.

>-it is unique and cannot be copied.

What do you mean by this?

Have you seen a bitcoin fork that was able to copy the bitcoin miners? No? Didn't think so.

You have to ask someone for coins to stake if you want to push through your transaction.

And in BTC mining you have to ask someone (the market) for mining hardware and electricity? How is this different from purchasing ETH to validate? It is permissionless. And you don't need to mine/validate to "push through your transaction", not on Bitcoin or Ethereum.

after that the chain recovers just fine

It doesn't because every other miner will shut down their miners because they aren't getting any block rewards, making the attack cheaper to sustain. Why would the attacker stop? "wait out until the attacker gets bored"?

it's over unless slashing

UASF is not slashing. You seem very misinformed.

whoever makes the slashing rules

They are hard coded on protocol level. Nodes who agree on the Ethereum version decide the rules, just like Bitcoin nodes decide Bitcoin protocol rules.

Have you seen a bitcoin fork that was able to copy the bitcoin miners?

Have you seen an Ethereum fork that was able to copy the Ethereum validators?

the future is a multi-terabyte excel sheet on a venture capitalist firm's mainframe that they have to shut off every three months for maintenance and, no joke, has to actively be marketed by shit like sponsoring RC quadcopter racing leagues on television

But yes, I'm sure SOL will succeed where ANT, NEO, EOS, TRX, ADA, BNB, XLM, ICP, FTM, AAVE, HBAR, ALGO, XTZ, AVAX, ALGO, etc. failed.

SOL is terrifying, lot of zoomers that grew on phones investing in that piece of shit with nodes growing 500 terabytes per year in size, a blockchain that crashes every month and can't even run a chain explorer on it.

It's the result of zoomer technological ignorance and will be this cycle FTX we can only pray that eth pumps because if Solanatards even get closer to number two crypto is done.

Imagine the regulatory damage a flash crash of that piece of shit could cause it's unbelievable how the big players in the ecosystem tolerate it.

saaaar nooooooo reeeeeeeeee muh efferiumz

dead cat bounce, it will continue crashing tomorrow

Can you point out how I'm wrong?

Concencus of value is represented by supply and demand. There is little demand. Thus, the general "investor" concencus is that ETH is not worth as much as BTC, evidenced by the price

In crypto it does

Crypto is Bitcoin. Everything else is a derivative. Have you noticed how historically, the pumps of "crypto" are coincided with the halving of Bitcoin? Bitcoin literally carries the entire market. You live in a little Crypto bubble, but the intention from the beginning was WORK = VALUE. You base too much off stupid Keynesian economics, which have failed us. Meanwhile, Austrian economics perspective has held true and stayed strong, while the other fades into obscurity.

Not an argument against issuance numbers.

I don't care what work salad you conjure. The market has decided ETH has lower value than BTC, so it has lower value.

Pic related, notice Pepe's reluctancy expression. It's like "OK, stupid little retarded brother, you may come, even if you are unworthy". In general people like you have diminished value from the true king, by "Balkanizing" crypto. Anything non-pow is a mockery of the true fundementals. It's a cheat, a cheap, easy way of copying someone else. And that is what ETH is. Even Vitalik has been buckbroken into understanding work=value, with him being immensely optimistic on Doge. changelly.com/blog/ethereum-founder-endorses-dogecoin-as-the-second-most-significant-cryptocurrency/ - eblockmedia.com/news/articleView.html?idxno=5256 - bitcoinist.com/dogecoin-number-2-bitcoin/. Either way, again "wordsalad" as much as you want, the price will do the talking.

WORK = VALUE

Sounds pretty Marxist economics to me, desu.

You go try being an unemployed bum with no income and getting rich. I will point and laugh.

Is it fair to think of BTC as a King, and ETH as his queen (for the time being), but the King is thinking of divorcing ETH-chan and going for a sexier Solana-chan as his next queen?
and the rest of cryptos as his little servants? lol
Tune in in the next episode of Crypto Infidelity

Why do that, when I can be an unemployed bum WITH income because I'm already rich off of ETH?

"Our" next queen seems to be Doge. coinmarketcap.com/view/pow/ - It is the second biggest in market cap, hash rate, and respects the model of work. Maximalists think Doge is a joke, and they are right, yet that JOKE is far more in line with the concept of true Crypto than POS shit tokens. I would respect ETH as queen, or prince, or whatever you might want to call second place. But only if it was POW. I loved ETH a lot, but the merge changes everything. It has faded from making actual sense in an economical perspective to a bunch of beatniks/hippies that think they are better for society, while contributing almost nothing. Again, WORK CARRIES EVERYTHING. Neither ETH or SOL deserve to be the second place. Expect a lot of people to wisen up soon. The trend that has been established now will be even more solidified next bull run, smart money will abandon POS even more than it already has.

Richness acquired when ETH was WORKING. Now it is not. You are living off your savings. Relative to BTC, ETH has been a horror show, and will continue to be so.

I agree with you there, and i also WANT to agree cause i completely missed out on the Solana train anyway lol.. i saw it climb from the 70s a year ago to 200+ today and didnt do jackshit thinking it was just gonna crash back to nothing, and yet here we are lol.
Yeah Dogecoin is still special and i have faith in that OG little cutie. (RIP real japanese Doge tho)