Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 20/02/2019, 02:16:26 UTC
Quote from: Biodom on February 19, 2019, 10:51:30 PM
Quote from: becoin on February 19, 2019, 06:29:14 PM
Quote from: goldkingcoiner on February 19, 2019, 06:20:14 PM
Quote from: GHCoins45 on February 19, 2019, 05:30:28 PM
Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon

This has been said for forever, still nothing. I doubt anything will change.

LOL.
POW is where workers rule.
POS is where rent seekers rule.
You can never create sustainable economy where rent seekers rule!
Ethereum was created as a coin of the people that don't understand monetary theory by the people that don't understand monetary theory for the people that don't understand monetary theory!


I agree, however, I worry that current rent seekers (which are dominant in the current economy) will simply transplant themselves onto POS, thereby strengthening it.


So?  How long will it take for their ponzi to play out?  They can keep it going for 20 to 50 years, yet half of the battle is recognizing the POS as a propped up ponzi scheme that is not much different from fiat... On an individual level maybe you hedge some of your value into that situation, but if you recognize the true value as POW, and you largely invest in POW, then likely you are going to experience value appreciation in your POW investment.  The snake oil salesmen are not likely going to make it easy for you to distinguish the real value from the snake oil, right?