Dump Bitcoin & Buy Ethereum?

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nhgjob

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Is "The Merge" going to crush Bitcoin?

Kyle McDonald, an independent researcher, predicts that the Bitcoin network may be "regulated away," causing the price of bitcoin to collapse.

He recommends selling bitcoin now. The reason is that after the Ethereum blockchain switches to a drastically less energy-intensive method of validating transactions, known as "proof-of-stake," investors and regulators may realize that the energy-intensive method that both Bitcoin and Ethereum use now, called "proof-of-work," was never really necessary.

Ethereum's switch, a software update called "the Merge," is expected to happen this month, and one expected benefit is that not as many computers will be required to keep the blockchain going.

McDonald said the possibility of Ethereum cutting energy costs by 99.95% is “highly realistic.”

Source

Thoughts?
 
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Always better to spread the risk between 2-3 cryptos.
 
After merge it will become a tool for big players. Most of these big boys are strictly regulated by Govts. Firms like cloudflare will become the safe keepers. These companies are publicly traded firms, they wont touch anything that cause a fall in their stock price. So govts can easily regulate Eth, and control whats happening on the block chain.

On one hand its a good thing, because big money will pour into the system, because these guys trust each other. And strict regulation will protect small investors by keeping bad players away. But still they will find a way around this. On the other hand its against the main concept of crypto, because it will become a centralized tool.

Its like the story of the fish and crocodile in a pond. They were bitter enemies. When the pond owner decided to drain the pond to catch the crocodile the fish came out in support of him. The result was all the fish died and the crocodile escaped as it could live in both water and land.

Like every other good thing, Eth will become firms like google, Facebook, twitter. They will throttle and control everything passing through their system. Because in a way they are responsible for it. They have no other option. Now think about BTC, is this possible with POW? NO is the answer.
 
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I cannot believe someone wit no logic speaking against bitcoin. Bitcoin has proved its worth over time even after so many updates and news .
 
Eth is a shitcoin, will be more so after abandoning proof-of-work.
 
Kind of agree. BTC is old and rigid. ETH is not perfect, but it's flexible. I'd definitely sell bictoin for ethereum. The only other option outside of these 2 is a privacy focused coin.

The positive feeling around this forum (not just this post) regarding BTC is scary.
 
Eth will become more centralized, thats true. However, from a business point of view, that centralization makes it more appealing to investors as they can now manipulate it at will. The net effect is more money into Eth, therefore higher prices..that is until the manipulation starts in earnest.
 
There's a very high chance that ETH will crash
It's just a lot of hype related to the merge and transaction fees
ETH already ripped 50% last month. It will stabilize imo
 
jasonforrest said:
ETH becoming even more centralized is a horrible thing.
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Brickbat1 said:
Eth will become more centralized, thats true.
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Does it look like PoW is different? Try to mine with ASICs and see how big of an investment you need. There's no way you think that a warehouse near a powerplant is accessible for anyone. On the contrary, after PoS it's easier to participate in block validation.

You've been caught. Don't believe any shitty article on the internet.
 
Enlightened Orangutan said:
Now think about BTC, is this possible with POW? NO is the answer.
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they are manipulating energy prices so people think pow is no longer an option.
but guess what, if people suddenly start going off-grid or on self-sufficient, im dead sure there will be ways to power pow coins without paying tons of cash on electricity.

Cypherpunk Zero #4027 said:
I'd definitely sell bictoin for ethereum. The only other option outside of these 2 is a privacy focused coin.
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either btc or monero-like coins. eth is no longer an option; eth became the kyc version of crypto :/

Cypherpunk Zero #4027 said:
Does it look like PoW is different? Try to mine with ASICs and see how big of an investment you need. There's no way you think that a warehouse near a powerplant is accessible for anyone. On the contrary, after PoS it's easier to participate in block validation.

You've been caught. Don't believe any shitty article on the internet.
Click to expand...
it's easier to participate but without your privacy... aka not good.
i like crypto to be anonymous ;)

im going with bitcoin and monero-like coins
 
The New ETH will be total centralised because you need 32 ETH to run a validatior node which the network within a few hands which makes it easier for the government to censor transactions.
 
Cypherpunk Zero #4027 said:
how do you lose privacy mining PoS
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well, lots of miners won't mine stuff that's "illegal" (even though there's nothing wrong,, like tornadocash) so people/miners will only do what the govs do. so if one gov says that your funds must be frozen, that means that no miner will verify any transactions coming from your eth address for example :/
 
MasterOfMasks said:
well, lots of miners won't mine stuff that's "illegal" (even though there's nothing wrong,, like tornadocash) so people/miners will only do what the govs do. so if one gov says that your funds must be frozen, that means that no miner will verify any transactions coming from your eth address for example :/
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Ok, how is it different from PoW?
 
Cypherpunk Zero #4027 said:
Ok, how is it different from PoW?
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technically, it shouldn't be different,, but PoS is controlled by the ones that have "more coins" than the avg fellow. in eth, you need 32 eth to be able to validate transactions;; which means that either hodlers from long ago or people with big money will be the ones to validate your transactions in the eth network. AKA gov and people with too much money are the ones that will validate your transactions OR decide to reject your transaction due to any reason; for example, rejecting it if you used tornadocash :(
 
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