Quote from: Abiky on June 18, 2024, 07:31:21 PM

We shouldn't change our perception of ETH from being a security to a commodity. Especially when it's utterly-centralized. The PoS mechanism "kills" it. ETH is now a "corporate coin" where big companies with a lot of money can influence the future direction of the project. You're basically entrusting your ETH to centralized entities. Not to mention, the huge influence Vitalik Buterin has over Ethereum.

If (God forbid) something bad happens to him, Ethereum will be done for good (or at least, it will lose value big time). Talk about being a security. The only real commodity is Bitcoin due to the way it was designed. I have a feeling the SEC will prosecute the Ethereum Foundation due to the sale of "unregistered securities" (the ICO before ETH's launch). Bitcoin never had an ICO or publicly-known founder, so it's safe from harm's way. Lets move on, shall we? Cheesy

SEC has decided it's now commodity, so we don't need to either, and if they don't see it as a security, no one has reason to. Centralization doesn't make it a security and idea of whole centralization around it is debatable anyway imho, especially when we compare it to other cryptos, like bitcoin. And i don't see PoS centralizing it any more then huge mining farms do to PoW coins. In same way, Bitcoin is centralized around people with biggest rigs and most money to run them when price of electricity is high and price of BTC low.

And vitalik isn't the main guy anymore, there are numerous active developers, and if we compare the numbers of active developers on both of them, eth doesn't seem to be that centralized around the main team.