Ethereum Enron 2.0? Can anyone explain how this works?
Somewhat confused here, I come from a traditional finance background TradFi if you wish, I decided to do some research on Ethereum as its in the talk next to Bitcoin .
What I discovered this Ethereum is a mix between Enron and WorldCom and completely useless.
Correct me if I'm wrong.
1. Ethereum is no longer PoW meaning there is no energy to create or maintain the network.
2. The only value I have seen on Ethereum making it relevant and keeping the structure going is stable coins that are ultimately after Bitcoin .
3. Ethereum developers who clearly cannot do math but they can code have create a collapse scenario for Ethereum .
Only posting this is I noticed people wondering why are my Ethereum tokens locked in something called the Merge?.. .
Well think about it, Tether and USDC don't need Ethereum , Ethereum needs them, Ethereum developers bright idea? add a APY / Yield for staking Ethereum .
This yield goes up the less Eth are staked and the more are sold, this is creating a government issued bond but there's no country backing Ethereum .
The thought process is institutions and banks will plug into Eth to do transactions when in reality they're laughing at the Ethereum community.
Institutions will create their own network to transact to Bitcoin , they're never going to opt into a network that they have to pay for a token? to transact stable coins?
What you're going to see is Bitcoin rise Ethereum fall, more Ethereum users run to unstake the Yield will rise creating more Ethereum > causing more people to unstake > more selling Ethereum .
Like its not even like we did not just go through something similar collapsing.
Have listen to a few Ethereum developer calls and I'm wondering do you even understand what you just created? probably not because none of these people have any clue about finance.
You can actually already start to see a deflationary death spiral before the coins locked have even been unlocked?
What I discovered this Ethereum is a mix between Enron and WorldCom and completely useless.
Correct me if I'm wrong.
1. Ethereum is no longer PoW meaning there is no energy to create or maintain the network.
2. The only value I have seen on Ethereum making it relevant and keeping the structure going is stable coins that are ultimately after Bitcoin .
3. Ethereum developers who clearly cannot do math but they can code have create a collapse scenario for Ethereum .
Only posting this is I noticed people wondering why are my Ethereum tokens locked in something called the Merge?.. .
Well think about it, Tether and USDC don't need Ethereum , Ethereum needs them, Ethereum developers bright idea? add a APY / Yield for staking Ethereum .
This yield goes up the less Eth are staked and the more are sold, this is creating a government issued bond but there's no country backing Ethereum .
The thought process is institutions and banks will plug into Eth to do transactions when in reality they're laughing at the Ethereum community.
Institutions will create their own network to transact to Bitcoin , they're never going to opt into a network that they have to pay for a token? to transact stable coins?
What you're going to see is Bitcoin rise Ethereum fall, more Ethereum users run to unstake the Yield will rise creating more Ethereum > causing more people to unstake > more selling Ethereum .
Like its not even like we did not just go through something similar collapsing.
Have listen to a few Ethereum developer calls and I'm wondering do you even understand what you just created? probably not because none of these people have any clue about finance.
You can actually already start to see a deflationary death spiral before the coins locked have even been unlocked?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.