[ANN] Ethereum: Welcome to the Beginning

[sp_]

Billions worth of USDT are sold to prepare for the end of POW.

[1715440483]

1715440483

[1715440483]

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[FP91G]

This is a great example of why I'm so proud of @optimismPBC for adding non-token governance (the Citizen House).
Optimism explicitly has goals *other* than just "make OP go up", and the only way to do that long-term is with explicit representation of non-token-holder interests.
source
https://twitter.com/VitalikButerin/status/1532533086352576512

[Cryptotushar]

Ethereum 2.0 is about to come which will reduce the gas cost significantly and makes Ethereum a blockchain for everyone.

[Super Protocol]

In terms of the development of the Ether project, there are very big plans that they have already implemented into their product for a long time and this is very good news. Then he has a plan to reduce the price of gas and increase the transaction throughput in the network.

[ivomm]

https://cryptoslate.com/will-26b-staked-in-eth-2-0-be-unlocked-and-sold-after-the-merge/
Will $26B staked in ETH 2.0 be unlocked and sold after the merge?
Later this year 13 million ETH will be unlocked once Ethereum moves over to proof-of-stake leaving proof-of-work behind. Will this cause a sell the news event?
“there will be an exit queue which may take more than a year in the worst-case scenario or several months in a more realistic one. The release will be slow.”

---------

No matter how slow it is, $26B additional selling pressure is quite a lot IMO. Even now just 2 months before the alleged swtch to POS it is so big that eth/btc crashed 33% from the last top. This is especially discouraging for the miners who keep some stash with the hope that POS will bring more profits. I expect most of them to switch their rigs to ETC and, as in the first few years of ETH creation, to pump the price enough at some point to become profitable. 10x-50x increase (etc/BTC) is doable for ETC in the next 3 years, and it will surpass anything that ETH can achieve from now on. In the last bear cycle ETH touched 0.016BTC, now I can bet that it will fall at least to 0.03BTC. May be ETH will survive another crypto winter, may be not. Terra is a good lesson why people must not trust some shady individuals with their money. Except for mining and converting to BTC. That is how even the small home miners who started in 2016 with a single gaming gpu, are all millionaires now. So, overall, thank you Vitalik for this opportunity and farewell to your project!

[FP91G]

Ethereum's Ropsten Testnet Set to 'Merge' Today
The Ropsten public testnet, Ethereum (ETH)'s longest-lived proof-of-work (PoW) testnet that allows for blockchain development testing before deployment on the mainnet, is expected to go through The Merge in a matter of hours.

https://cryptonews.com/news/ethereums-ropsten-testnet-set-to-merge-today.htm

[zasad@]

https://blog.ethereum.org/2022/05/30/ropsten-merge-announcement/#ru
"Ropsten will be the first longstanding testnet to run through The Merge
A new Ropsten Beacon Chain was launched on May 30, 2022 to provide consensus to the network
The Ropsten Beacon Chain will upgrade to merge-compatible protocol rules (Bellatrix) at slot 24000, expected on June 2, 2022"

Ropsten support will end after a successful testnet

https://discord.com/channels/476244492043812875/476588476393848832/979075630761115719

Yorick | cryptomanufaktur.io:
Kiln: Merged testnet, early testing. Abandoned at mainnet merge or before.

Ropsten: To-be-merged testnet, first look at what mainnet might look like. Abandoned at mainnet merge.

Goerli: To-be-merged testnet, will live on after mainnet merge, anyone can run a validator. Getting GöETH is a heroic effort.

Prater is the PoS half of this network, that name will become "legacy" with its merge.

Sepolia: To-be-merged testnet, will live on after mainnet merge, permissioned validators only.

Kovan, Rinkeby: Testnets without a maintainer, currently. Likely to be abandoned, not scheduled for merge

[sp_]

Ethereum: Welcome to the End...

https://www.youtube.com/watch?v=tqLhvUDodOY&t=465s




The Nordic translation will be something like "Order or Nothing" (edit: and cracked by SkidRow...)
https://www.pouet.net/

[FP91G]

EIP-5133: Delaying Difficulty Bomb to Mid August 2022
Delays the difficulty bomb by a further 500000 blocks, to the middle of August 2022.
https://github.com/ethereum/EIPs/blob/master/EIPS/eip-5133.md
Possibly at the end of this month EIP will be launched at the end of this month.

[r_victory]

Ethereum 2.0 and ETH Ropsten Merge Explained

Ethereum Merge is one of the biggest stories in crypto moved one step closer to its end goal. Yesterday we witnessed Ropsten, Ethereum’s longest-running testnet, had a successful transition to the proof-of-stake algorithm.

Read more...

[zasad@]

https://u.today/vitalik-buterins-japanese-name-pig-forest-evokes-comic-reactions-tron-founder
Vitalik Buterin's Japanese Name, "Pig Forest," Evokes Comic Reactions: TRON Founder

https://twitter.com/justinsuntron/status/1535222492742270977?
"Why @VitalikButerin’s Chinese name is 豚林? Sounds strange to me. I have a better name for him 柏林. "

[jokers10]

https://u.today/vitalik-buterins-japanese-name-pig-forest-evokes-comic-reactions-tron-founder
Vitalik Buterin's Japanese Name, "Pig Forest," Evokes Comic Reactions: TRON Founder

https://twitter.com/justinsuntron/status/1535222492742270977?
"Why @VitalikButerin’s Chinese name is 豚林? Sounds strange to me. I have a better name for him 柏林. "

May be cypress forest has more sense then dolphin forest, but both Túnlín and Bǎilín are far from his surname sounding.
If only in context of a tweet of Vitalik Buterin referred in a first article:

Please stop using "real name" to refer to your passport name. Your government doesn't get to define who you "really" are. If you use a different name in most day-to-day interactions, that is your real name.

"Passport name", "legal name", "slave name" to be edgy are all fine.

Then of course he can introduce himself as Cypress Forest as well.

[pressing207]

I am not happy with the price of Bitcoin going from c.$70,000 to c.$48,000 in a few weeks but with the market so unstable Ethereum is doing very well holding up with a price of $4000+ throughout.

This is still a great investment because it still has yet to hit the $10,000 barrier which it inevitably will do....

  hahahahaha!

[estenity]

I am not happy with the price of Bitcoin going from c.$70,000 to c.$48,000 in a few weeks but with the market so unstable Ethereum is doing very well holding up with a price of $4000+ throughout.

This is still a great investment because it still has yet to hit the $10,000 barrier which it inevitably will do....

  hahahahaha!

in effect, not so good !!! in this crisis market (post-covid, global financial crisis induced by ukraine war)

[piebeyb]

A price that keeps dropping is better than not being able to solve the problem of transaction fees, it's still too high

people still haven't stopped transacting on ethereum using lower fees 

[jokers10]

A price that keeps dropping is better than not being able to solve the problem of transaction fees, it's still too high

people still haven't stopped transacting on ethereum using lower fees 

Ethereum network is still the most popular for creating own tokens so I see no reasons for significant decrease of transaction number. And as for the price... entire crypto market is in red zone for now. We just need to stay calm and hodl waiting for better times! Ethereum will go to the moon again in the future!

[FP91G]

Cardano Founder Announces Ethereum 2.0 Is Not As Early As You Think
https://www.thecoinrepublic.com/2022/06/14/cardano-founder-announces-ethereum-2-0-is-not-as-early-as-you-think/
On the other hand, Hoskinson, the founder of Cardano disagrees with the proposition. He said that the public should expect it to be merged in around 2023 as the earliest time frame.

[Mr.Scott]

A price that keeps dropping is better than not being able to solve the problem of transaction fees, it's still too high

people still haven't stopped transacting on ethereum using lower fees 

Ethereum network is still the most popular for creating own tokens so I see no reasons for significant decrease of transaction number. And as for the price... entire crypto market is in red zone for now. We just need to stay calm and hodl waiting for better times! Ethereum will go to the moon again in the future!

ETH fell to as low as $950 this June 13, which is the proof that the whale sold its ETH possessions. Indeed, the economic situation is in red zone and the complete crypto market cap is under 1 trillion. This free fall is crazy however anticipated. ETH is additionally impacted however everyone love ETH, and will hold until better times comes.

[jokers10]

ETH fell to as low as $950 this June 13, which is the proof that the whale sold its ETH possessions. Indeed, the economic situation is in red zone and the complete crypto market cap is under 1 trillion. This free fall is crazy however anticipated. ETH is additionally impacted however everyone love ETH, and will hold until better times comes.

IMO Ethereum can go much lower and nevertheless stay trustful crypto asset as volatility is a natural feature of any crypto project nowadays and would be so for some time more. And as for single crypto assets any can be manipulated by whales as even bitcoin does still not have big enough market cap to not to be manipulated.

[zasad@]

https://github.com/ethereum/EIPs/blob/master/EIPS/eip-5133.md
Delays the difficulty bomb by a further 700000 blocks, to the middle of September 2022.
https://ethereum-magicians.org/t/eip-5133-delaying-difficulty-bomb-to-mid-september-2022/9622

https://www.bloomberg.com/news/articles/2022-06-10/ethereum-s-difficulty-bomb-delay-is-bad-news-for-its-revamp?
Ethereum’s ‘Difficulty Bomb’ Delay Is Bad News for Revamp