Doesn’t mean I’m completely wrong. Not sure why people would do that, no offense. Ethereum is barely better than something centralized like BlockFi that also gives you interest. Ethereum has Vitalik and the ethereum foundation at the wheel hardforking to upgrade and rolling back when things like the DAO happen, so imo that isn’t much better than centralized and then there are the fees.
It’s just a difference in opinion really. I have some ether and will stake it when they upgrade but I don’t use ethereum because I find it underwhelming and unusable to my standards. Meta mask has come a long way, the mobile app is actually really impressive but besides that I don’t see the appeal.
So I am sadly in ETH just for the profit.
There is no other reason. Nobody cares about decentralization only for profit. Everything in the crypto right now is just speculation with different levels of risk. The DeFi products on ethereum have the best risk / profit ratio at the moment and in high probability it will remain so in the coming years.
Well, I wouldn’t say no one. The cypher punks weren’t and aren’t in it just for the profits. I don’t think all of us are either. I can be somewhat idealistic (maybe that is a flaw) and I chose to support Maidsafe over Ethereum because of the tech implications and the perceived ideals.
I’m still here today because I do care about the tech and haven’t gained anything monetarily (yet). I genuinely care about Safe Network’s impact on the world.
What are the interest rates for lending wrapped bitcoin on ethereum btw? BlockFi has different tiers and adjust their rates periodically based off demand and participation. Was 6% for under 2.5 BTC but that was lowered to 1 BTC recently.
I thought so too, so I rushed to promote Safe with such enthusiasm. Unfortunately, the reality exists and I am preparing for a fight that will continue on for decades instead of a Blitzkrieg war.
I have no idea, I was tempted by more speculative offers and sold my little bitcoin for something with a greater opportunity for rapid growth
Strictly as worded, yes. I could have been more clear. In context, what I was getting at is that the funds going into wrapped certainly seems to be “old money.” People who are moving some of their much appreciated ETH. It’s the new money who are complaining about gas fees.
You miss the fact that cryptocurrencies redirect value from the fiat money and gold. Ie cryptocurrencies have no upper ceiling because fiat has no bottom.
Once again, no one likes high fees and slow transactions, but when you can make a lot more money on the Ethereum network than on the Lightning network, we will continue to see how the Ether is used for Layer 2 solution for Bitcoin.
I think this is a misconception, the Summarians, Greeks, Romans and more found out all money has a bottom, you can devalue to a point, but … It’s never really reached as society collapses just before then. But a lot of these memes are a bit overused.
The difference now is that most people live from paycheck to paycheck, this allows the system to continue to exist as long as people get pizza, air conditioning and a TV. People who dream of the system collapsing to use their crypto and gold will not live to see it (as long as there is pizza, air conditioning and a TV for the masses).
I sold too early, sometimes to know that something is not of good quality works against you. The market once again proves that it can be irrational for longer than I can imagine…
I think that they were lucky, that only part of total circulation is ready to sell. Closed ICO to public, miners buying FIL from exchanges, every trader willing to make trades must first buy and large companies drain the low supply with adding into own portfolio.
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