It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions and fee. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but that's a whole other headache for regular investors. You expect Ethereum to work and when it eats your money away your left stunned and furious why anyone would use it.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Cardano (ADA)'s Best Salesman is Ethereum | Cardano Rumor Rundown #99 | Army of Spies
https://www.youtube.com/watch?v=MEvHS72K3Wo
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Cardano (ADA) Watching ETH KO Itself | Cardano Rumor Rundown #102 | Army of Spies
https://www.youtube.com/watch?v=ELgoHFPYce4
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Ethereum Ecosystem in the future. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions and fee. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but that's a whole other headache for regular investors. You expect Ethereum to work and when it eats your money away your left stunned and furious why anyone would use it.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Cardano (ADA)'s Best Salesman is Ethereum | Cardano Rumor Rundown #99 | Army of Spies
https://www.youtube.com/watch?v=MEvHS72K3Wo
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Cardano (ADA) Watching ETH KO Itself | Cardano Rumor Rundown #102 | Army of Spies
https://www.youtube.com/watch?v=ELgoHFPYce4
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem in the future. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Cardano (ADA)'s Best Salesman is Ethereum | Cardano Rumor Rundown #99 | Army of Spies
https://www.youtube.com/watch?v=MEvHS72K3Wo
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Cardano (ADA) Watching ETH KO Itself | Cardano Rumor Rundown #102 | Army of Spies
https://www.youtube.com/watch?v=ELgoHFPYce4
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Cardano (ADA)'s Best Salesman is Ethereum | Cardano Rumor Rundown #99 | Army of Spies
https://www.youtube.com/watch?v=MEvHS72K3Wo
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Cardano (ADA) Watching ETH KO Itself | Cardano Rumor Rundown #102 | Army of Spies
https://www.youtube.com/watch?v=ELgoHFPYce4
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.iy/Madror7/status/1408505144984051716
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://nitter.it/MeiTrades/status/1408117430656905219
https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://twitter.com/Madror7/status/1408505144984051716
https://twitter.com/JamesSpediacci/status/1407761823143645189
https://twitter.com/MeiTrades/status/1408117430656905219
https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgrade doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
Third, ETH 2.0 upgradedoesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum is dead.
I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes Ethereum valuable? The projects built on Ethereum. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum is dead.
I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good project at all.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020
https://files.catbox.moe/uea6n1.mp4
Seventh (got erased before saving)
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good project at all.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020
https://files.catbox.moe/uea6n1.mp4
Seventh (got erased before saving)
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Cardano Ecosystem. One of the biggest points I remember was he plans to have only 1 centralized entity have a complete copy of the Ethereum blockchain.
- LINK
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good project at all.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good project at all.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would take 20+ of the top stake pool groups to cause a 51% attack
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about 42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH.
Third, ETH 2.0 doesn't fix failed transactions. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but thats a whole other headache for regular investors.
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (more strict, less expressive) than Solidity ones (more expressive, more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer.
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020