News Ethereum Hits 15-Month Low As The Merge Is Delayed Again

[Anubis01212]

CRYPTO MELTDOWN as Prices CRASH, BINANCE & CELSIUS Suspend Withdrawals & BOE Warns of 100% LOSSES. - YouTube

Yeah the fud is real, don't forget
2013-2015
BTC: $1,127 --> $200 (-82%)
2017-2018
BTC: $19,423 --> $3,217 (-83%)
ETH: $1,448 --> $85 (-94%)

Current cycle:
BTC: $67,167 --> $23,000 (-65%)
ETH: $4,815 --> $1,200 (-75%)

Some might call that an opportunity...

 

[digitalgriffin]

Yeah the fud is real, don't forget
2013-2015
BTC: $1,127 --> $200 (-82%)
2017-2018
BTC: $19,423 --> $3,217 (-83%)
ETH: $1,448 --> $85 (-94%)

Current cycle:
BTC: $67,167 --> $23,000 (-65%)
ETH: $4,815 --> $1,200 (-75%)

Some might call that an opportunity...

Might....if you don't look real far down the road by what the Feds are doing to slowly choke it.

 

[Anubis01212]

Might....if you don't look real far down the road by what the Feds are doing to slowly choke it.

That's what people in fear said last time... .
We agree to disagree

 

[rgd1101]

old news. binance resume 4hr ago

 

[digitalgriffin]

That's what people in fear said last time... .
We agree to disagree

I would be willing to place a gentlemen's wager to charity on that. All 3rd party crypto (non government created) will be banned by USA in 10 years.

 

[Anubis01212]

I would be willing to place a gentlemen's wager to charity on that. All 3rd party crypto (non government created) will be banned by USA in 10 years.

Pfew 10 years, play it a little safer and say 100 years...
If I would have other investments that do x1000 in 2 years and I get 10years, sign me up!

 

[digitalgriffin]

Pfew 10 years, play it a little safer and say 100 years...
If I would have other investments that do x1000 in 2 years and I get 10years, sign me up!

The government is slow, but it's like stopping a bulldozer. When it wants something, it will eventually get it.

We'll let a neutral party hold it. If you lose, you pay out to Child Fund international.

In Ponzi schemes, someone always pays. Someone is always left holding the bag. Much like Chinese the real estate bubble, someone will be left with empty promises. You may be smart enough to get out in time. Who knows, maybe the gov't will create a transition plan for crypto holders. But that's not what this bet is about. It's about gov't eventually banning every version but THEIR approved version.

 

[Anubis01212]

The government is slow, but it's like stopping a bulldozer. When it wants something, it will eventually get it.

We'll let a neutral party hold it. If you lose, you pay out to Child Fund international.

Still my point stands, I will take any investment that does x1000 even if it's only for a year. If you believe 10 years then I definitely don't understand why people prefer to give their money to the government instead of investing. Weird.
Well I know it changed my life and I'll continue to take profits for as long as possible.
In my opinion it's here to stay so . But if it goes to 0 tomorrow instant I would already be insanely positive so I'm Gucci in all cases.

 

[digitalgriffin]

Still my point stands, I will take any investment that does x1000 even if it's only for a year. If you believe 10 years then I definitely don't understand why people prefer to give their money to the government instead of investing. Weird.
Well I know it changed my life and I'll continue to take profits for as long as possible.
In my opinion it's here to stay so . But if it goes to 0 tomorrow instant I would already be insanely positive so I'm Gucci in all cases.

x1000 huh?

Tulips.

 

[Anubis01212]

x1000 huh?

Tulips.

A 1000 was easily doable since 2018 yes.

 

[2Be_or_Not2Be]

The PoS switch by Ethereum has promised for years, and it always get delayed. Pretty much as long as there is money to suck up from someone & greed exists, there will never be a switch.

Meanwhile, while crypto-bros tout all of the perceived benefits they receive from crypto, crypto-bros never acknowledge the past & current waste of energy that crypto consumes, both from an environmental and economic standpoint. They usually point to switch to PoS as how the excessive waste of energy will change, and that has been repeated for many years as already noted above. The tech in crypto isn't something better; what it does now through blockchain has been done far more efficiently by databases. I like the concept of blockchain, but its use by cryptomining is just a wasteful application.

Now, I also know with crypto-bros, it pretty much is useless trying to get them to see the larger picture. They already "know" the big picture. So no need to convince me - it's all good, bro!

 

[Anubis01212]

The PoS switch by Ethereum has promised for years, and it always get delayed. Pretty much as long as there is money to suck up from someone & greed exists, there will never be a switch.

Meanwhile, while crypto-bros tout all of the perceived benefits they receive from crypto, crypto-bros never acknowledge the past & current waste of energy that crypto consumes, both from an environmental and economic standpoint. They usually point to switch to PoS as how the excessive waste of energy will change, and that has been repeated for many years as already noted above. The tech in crypto isn't something better; what it does now through blockchain has been done far more efficiently by databases. I like the concept of blockchain, but its use by cryptomining is just a wasteful application.

Now, I also know with crypto-bros, it pretty much is useless trying to get them to see the larger picture. They already "know" the big picture. So no need to convince me - it's all good, bro!

Pos was not promised for years... Actually the contract only opened like 2 years ago. And it opened without a date so all locked up eth 2.0 was know to be locked till the merge that had no date. It was always very clear and open that this could take years. And true there have been setbacks on intermediate goals then again this is cutting edge tech that actually needed several completely new developments to become a reality. And nope this has not been done by db's and more efficiently. Problem with db's is the trust, this is solved inherently by chains (among countless other things, another example is immutable, db's are not immutable or anonymous either... ). So claiming chains don't do new stuff is just cause you don't understand how it works. Show me how to do zksnarks rollups in a dB context, it's just not possible.

 

[Co BIY]

Every single bank has blockchain projects, yeah probably a hoax. Every fortune 500 company is involved, wall street, JPMorgan. But not with Fran, she sees right through it, luckily.

Yes, Blockchain is a neat technology. I think investing in a Blockchain startup might make sense.

A cryptocurrency though - no barriers to entry - and "Every single bank" , "Every Fortune 500" and Wallstreet charging in. Still no direct purchases really being made. Recipe for unlimited competition and a race to the bottom.

This dip must really hurt. The currency the dip is measured it is down 8-12%! So double downer!

Even me as a crypto skeptic would have assumed that high inflation in government fiat currencies would help the cryptos .

 

[Anubis01212]

Yes, Blockchain is a neat technology. I think investing in a Blockchain startup might make sense.

A cryptocurrency though - no barriers to entry - and "Every single bank" , "Every Fortune 500" and Wallstreet charging in. Still no direct purchases really being made. Recipe for unlimited competition and a race to the bottom.

This dip must really hurt. The currency the dip is measured it is down 8-12%! So double downer!

Even me as a crypto skeptic would have assumed that high inflation in government fiat currencies would help the cryptos .

It would for sure! The problem is not only inflation. The full world economy is hurting not just inflation(war, pandemic,...) .
This dip is nothing compared to past events. This time however there is a <Mod Edit> of worthless projects that will (and should) crash and die. Comparable to the .Com swan event. But don't forget the biggest companies on the planet today come from surviving and thriving from that event.
There is tons and tons of bad crypto out there. Hell the creator of doge coin literally spend 2h on the creation of it (and he openly admits it is just a meme), still people poor millions and millions into it. Obviously stuff like that shouldn't survive black swan events.

 

[watzupken]

Burnout from moving too fast on something that has been delayed by a few years already? Or burned out from push-back from miners and hardware manufacturers who don't want their money cows to go udders-up?

In my opinion, the delay is deliberate. Some say that the developers delayed it again because they don’t want the value of Ether to drop further. But the truth is that the migration to POS has been delayed for no less than 2 years now. So it pretty much negates the argument that they delayed it again because the value of crypto is dropping and thus, a step to prevent further losses. I feel they are getting paid by miners, especially the big players, to delay it. If the transition goes through, these miners have a lot to lose since GPU prices are very low, and besides Ether which is high in value, the rest of the crypto using POW is less lucrative. Otherwise, I have to say that the developers are simply incompetent to complete the transition.

 

[Anubis01212]

In my opinion, the delay is deliberate. Some say that the developers delayed it again because they don’t want the value of Ether to drop further. But the truth is that the migration to POS has been delayed for no less than 2 years now. So it pretty much negates the argument that they delayed it again because the value of crypto is dropping and thus, a step to prevent further losses. I feel they are getting paid by miners, especially the big players, to delay it. If the transition goes through, these miners have a lot to lose since GPU prices are very low, and besides Ether which is high in value, the rest of the crypto using POW is less lucrative. Otherwise, I have to say that the developers are simply incompetent to complete the transition.

It's not delayed for 2 years at all, there are different phases in the merge and yes deadlines have been pushed but the eth 2.0 is just 3 years old and they said back then it could take years to the merge, so max delay is 1 year. Which is not a lot given the past 3 years had insane Impacts on all business developments (pandemic).

Second there is no delay this time, it is exact on track to go live at the moment the said during last eip push. The difficulty bomb is delayed, so the devs can focus on the merge without releasing the difficulty bomb eip in the same week. Complete failure of media to comprehend this (TH as well). Luckily more and more sites have updated this mistake.

 

[-Fran-]

Asmond's take from the "gamer" PoV is quite interesting. Beware strong language:

View: https://www.youtube.com/watch?v=z6iIEwUG-u8


Regards.