Originally posted by xraygoggles
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Originally posted by jacoavlu View Post
if there's something I said that you disagree with, quote it and we can have a real conversation. If you're going to attribute to me things that I didn't actually say then I'm going to ignore you
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Originally posted by xraygoggles View Post
You were literally betting about Tether's demise, so it's normal to infer you think it won't go under, right?
am I certain? No, and I have never expressed certainty. Am I willing to bet on it? Yes
do you want to participate in the bet - chump change, meaningless to us - with proceeds to charity? I’m guessing you don’t, because if you had to bet I think you probably agree with me
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Originally posted by jacoavlu View Post
generally kinda yeah. I'm more neutral on lightning network than most "bitcoiners" - it still has quite a ways to go if it's going to be used for daily payments. But yeah I agree with Mallers with regards to the fundamental innovation of bitcoin, and the necessity for proof of work
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Originally posted by Doctordoctah View Post
Ethereum does everything bitcoin does but better. Faster transaction speeds. Proof of stake which is better for the environment. Decentralized applications (defi). NFTs. Bitcoin only has negative externalities with mining energy waste. Largely, it has already been replaced by ethereum and other layer 1s. Bitcoin is obsolete.
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Originally posted by Doctordoctah View Post
If the problem to solve is self-sovereignty over your money, yea I’d say so. There’s nothing btc does that eth can’t do better. Plus btc miners waste tons of energy
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Originally posted by jacoavlu View Post
but ETH was / is already largely captured by the state, and the move to proof of stake only accelerates this. There is no hope of it being actual censorship resistant money if shtf
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Originally posted by Doctordoctah View Post
That's all just a narrative brother. In the bear market right now, ETH chart looks a lot more bullish than the BTC chart. Plus so many new, promising projects launching on eth, not btc. If ETH proof of stake is too 'centralized' than so is BTC as the mining power (hash rate) is concentrated in a few hands
something like 70% of eth blocks now are censoring transactions to comply with ofac, a huge increase post merge. Coins staked with validators are frozen. all the stablecoins that are central to "defi" are captured, those coins can be frozen at the whims of the state.
people might do some neat things on eth but it's not money
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Originally posted by jacoavlu View Post
not interested in charts, price talk is always uninteresting
something like 70% of eth blocks now are censoring transactions to comply with ofac, a huge increase post merge. Coins staked with validators are frozen. all the stablecoins that are central to "defi" are captured, those coins can be frozen at the whims of the state.
people might do some neat things on eth but it's not money
ETH is actually more transparent that BTC, to be honest. I can go on etherscan and check any ERC-20 to see the public info on liquidity pools, daily volume, top holders, etc
BTC offers nothing like this. BTC has no NFTs. No defi/yield (unless you give your custody to blockfi or celsius). Takes forever to send (up to 1 hour). It wastes I believe by now more energy than the entire country of Argentina.
And last important point is that btc miners will always be selling their bitcoin. Why? They need to pay 90% of their profits to the electric companies to keep mining. This introduces ridiculous sell pressure into the system. Not sustainable long term.
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Originally posted by Doctordoctah View Post
ETH is deflationary. BTC is inflationary.
ETH is actually more transparent that BTC, to be honest. I can go on etherscan and check any ERC-20 to see the public info on liquidity pools, daily volume, top holders, etc
BTC offers nothing like this. BTC has no NFTs. No defi/yield (unless you give your custody to blockfi or celsius). Takes forever to send (up to 1 hour). It wastes I believe by now more energy than the entire country of Argentina.
And last important point is that btc miners will always be selling their bitcoin. Why? They need to pay 90% of their profits to the electric companies to keep mining. This introduces ridiculous sell pressure into the system. Not sustainable long term.
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Originally posted by jacoavlu View Post
none of this refutes my point. ETH gave up trying to be actual money. Which is fine for what it is. It's a blockchain utility token competing with a bunch of other blockchain utility tokens.
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Originally posted by Doctordoctah View Post
The argument is that BTC has no utility. It's only utility is to waste energy which ETH doesn't do. That's why it was the #1 underperforming coin last cycle and will continue to underperform moving forward.
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Originally posted by jacoavlu View Post
it's the only coin that has a chance of being actual uncensorable money, which is the ultimate utility
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