Ethereum is much like the stonk market:
It'll always get pumped, even though it is complete dog shit.
The biggest scam in crypto history (next to XRP).
One of the major differences between Bitcoin and Ethereum’s economics is that the latter is not deflationary, i.e. its total supply is not limited.
I don't think many of the people who buy Eth know this. It is claimed by the (centralised) "founders" they have this inflation for "security" reasons.
To me it sounds just like the need for inflation in a fiat currency: some reason that doesn't make sense.
Bitcoin already shows you don't need inflation because of "security".
Currently: avg Eth fee: $31.4. avg BTC fee: $4.17
Makes no sense to chase ETH when we all know BTC is the store of wealth and not even the ETH scammers claim that their chain is that. Their letting fools think that perhaps but I've never heard them say it is that.
If there is such a need for smart contracts, ie if my fridge needs to automatically order eggs and milk from a supermarket computer and pay the robot delivery then it would cost $63 before anything is delivered.
Nonsense carry on.
XRP is probably a bigger scam but I am starting to think Cardano is similar also.
Just a bunch of dudes trying to make their own Bitcoin / blockchain / copy for whatever reason they can sell it and fleeing when they get found out.
See also Charlie Lee with Litecoin and Roger Ver & whatever other assholes were involved with Bitcoin cash.
The thing that is so annoying to me is that the logic is so simple as to why Ethereum is a bad idea.
Smart contracts? Yes this is a VERY interesting idea. And the lightning network is built on them, for example. But not only do they not NEED to be run on a blockchain beyond the most simple ones, it actually does not make sense for them to be. All the security aspects of a smart contract can be rooted on a blockchain via efficient hashes. You do not need a "world computer" using one of the least efficient storage systems ever developed by humankind.
Ethereum BREAKS one of the two things blockchain is important for. Decentralization. Any blockchain used for indiscriminate data storage is destined to centralize and become a digital version of the Federal Reserve/IMF/WEF/IBS machine that currently enslaves the world. Only if we get this digital version it will make what we have now look fair.
I do not think Ethereum would centralize to a single authority. But it would collapse to a small number of very powerful members of a group. It would need the kind of infrastructure that only countries and huge corporations (think Amazon, Google) could create and maintain. So we just end up with a new system that works just like the old one. The members of that "fedaration" could meet and set policy as they see fit.
And then the obvious question. Why on earth waste all this time and money running a blockchain when they can just do it with a good old shared database? There is no reason.
And poof the reason for Ethereum to exist in the first place disappears into a puff of logic.
The central banks seem to have already figured this out. They are not going to waste time trying to make something decentralized for their CDBCs. Why would they? It would not benefit them. Now i imagine they might use the NAME "blockchain". But...
Bitcoin truly is humankind's best chance of destroying this eras system of mass enslavement.
Ethereum (and all the other centralizing "blockchains") is more than a scam to enrich it's founders. It is a direct attack on the freedom of humanity. And that is not an exaggeration.
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