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Showing 8 of 8 results by midasjohn
Post
Topic
Board Altcoin Discussion
Re: Q:Why isn't the Shocking Ethereum Fees discussed more in Media? A:...
by
midasjohn
on 13/03/2023, 09:19:44 UTC
It's true that Gas fees are ridiculously high since a long time now and we are not seeing a resolution to this. It is actually creating market gap for BNB. Nowadays BNB has become the most preferred chain to complete transactions for the token owners.

Vitalik is definitely aware of this issue and I am sure bigger plans are ongoing in the background. ETH 2.0 is definitely coming sonner than later. Otherwise there's literally no solution to the high gas fees.

Developers are stalling by delaying network upgrades that would benefit the end user. The difficulty bomb has been extended, so ETH 2.0 will take quite a lot longer than expected for it to become a reality. I don't think it's hard to introduce a short-term solution for ETH's high fees. Developers could simply roll a new upgrade that would alleviate high gas fees until ETH 2.0 comes into fruition. What I see here is that miners don't want fees to go down, as it would mean less money for their pockets. I mean the higher the fees, the more money miners will make, right?

If this keeps going, I'm afraid BNB will take ETH's position as the second-largest cryptocurrency by market cap. It's unfortunate to see what's happening with ETH right now, when developers could've done something about it in the first place. They're only focused on ETH 2.0, instead of dealing with the current blockchain's situation. Of course, decentralization and security/reliability comes first. But sometimes enough is enough. Mainstream media don't say anything about the fees, because it's manipulated by big players on the market. I hope ETH 2.0 takes over the mainnet next year, or we can "say goodbye" to Ethereum for good. Just my opinion Smiley
I agree totally. I am a Charles Hoskinson fan myself and Cardano has the best opportunity laid down to be the ecosystem Ethereum could have deserved to be. It's nacient technology that shouldn't be taken as complete in any way shape or form.

Let's hope for a decade of Creative Destruction and Accumulation. Every $10,000 you can put in will be worth $1,000,000 in a Decade (inflation adjusted).
Post
Topic
Board Altcoin Discussion
Re: Q:Why isn't the Shocking Ethereum Fees discussed more in Media? A:...
by
midasjohn
on 13/03/2023, 05:29:40 UTC
I think your appraisal is bang on! Equally regarding usurious finance street and Etherium which for me is a massive MASSIVE aberration and monstrous detour from the way the blockchain should have developed. I'm not a maximalist however ... Similarly to all software, there's a best tool for the job. Bitcoin is best being Bitcoin.
Post
Topic
Board Bitcoin Discussion
Re: How do you interpret the fluctuation of Bitcoin price ?
by
midasjohn
on 10/03/2023, 17:13:57 UTC
I believe from my 11 years experience, that we will bottom somewhere around $8K after the CBDC and Western Hemisphere Vendetta begins and smashes the idiots out of the space. Then we true hodlers can enrich ourselves still further. It's so long since I posted many many years ..... these times are bringing the true spirit back again. Hodl On! (p.s. be careful as we may go much lower than that - it's a wonderful opportunity for those who missed the foundation years)
Post
Topic
Board Altcoin Discussion
Topic OP
Q:Why isn't the Shocking Ethereum Fees discussed more in Media? A:...
by
midasjohn
on 08/12/2021, 17:34:36 UTC
I believe because most 'Investors' in the space that have just arrived from Wall Street or Sherwood Forest are buying and selling nominal Ethereum on the Exchanges without ever performing an onchain action. Ethereum is utterly broken and 2.0 may never come.

Do you think this is a fair appraisal?
Post
Topic
Board Altcoin Discussion
Re: Do you invest in new projects?
by
midasjohn
on 08/12/2021, 17:07:14 UTC
Hello everyone, my question is: how often do you invest in new and young projects? Aren't you afraid of losing money if the project closes?

I want to invest in a promising project called Yearnlab. Their token sale starts on 7th Dec and I think this is a good opportunity to successfully invest money.

Share your thoughts on such an investment. Maybe you have some interesting cases on this matter.

That's one way to shill a coin I guess  Cheesy
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin runs off the fumes of fiat.
by
midasjohn
on 24/12/2020, 05:55:03 UTC
Coins are bought with fiat.
Miners are bought with fiat.
Electricity is bought with fiat.

Bitcoin runs off the fumes of fiat.

It will be a central banker with the biggest mining farm in the end, and your grand kids will be slaves to network fees AKA enforced tax.

Keep being cattle.

The truth is, you are still a slave to central bankers who create fiat out of thin air, even with bitcoin.
Bitcoin does not fix this. A coin everyone mints at the same rate will.

https://pbs.twimg.com/media/Ep-JU9WXcAEIWeX?format=png&name=small
You really need to investigate what money is. We can use Pebbles or Sea Shells or Peppercorns or ANYTHING as a Unit of Account. Confusion sets in when one attempts to liken Money with Assets .... and yes Crypto-faithful ... that includes associating Crypto with Assets .. expect perhaps {   }
Post
Topic
Board Beginners & Help
Re: Whitelist Requests (Want out of here?)
by
midasjohn
on 10/09/2012, 11:29:37 UTC
I've been visiting for over a year 'bemused' why I couldn't reply to posts!  I'm here for the long term and a Business Owner embracing Bitcoin, so whitelist me please or give me a step by step way to status asap rsvp (*Midasjohn
Post
Topic
Board Beginners & Help
Re: Introduce yourself :)
by
midasjohn
on 07/07/2012, 09:06:00 UTC
Hi,

I read about bitcoins a few years back and thought is sounded interesting, but did not have time to invest in it because I was spending time on learning the fundamentals of economy and trading.

I am reviving my interest in bitcoins because knowing a little more about the history of finance and the history of currencies, I can now appreciate btc on a whole new level.

I am working with Android as a software engineer for a cell-phone company. I trade currencies and stocks as a hobby.

I am managing some friends and family members money and I am here because I want to learn more and participate in the open/decentralized digital currency community. When I have learned some more, I will start to trade btc with their and my own money.

Kiss

I have a similar interest background and motivation too Wink  I am also interested in mining for a very small profit (e.g. 2% daily) that we could reinvest, as compound interest.