False. DeFi/NFT traders don't care about or need maximum decentralization. You only need enough to remain open and without KYC, which isn't much.

it will be hard to convince the world that a project with ~50,000 daily active users, solves no real-world problem other than avoiding KYC, deserves a valuation that's 5-10x companies that have revolutionized the daily life of every person on earth

also, there's nothing ETH has that can't be copied/pasted and offered cheaper/faster by competitors. That's what BSC did and they surpassed all ETH competitors extremely quickly

For as long as Binance stays relevant, BSC will be relevant. BSC has nonstop free advertising on every page of the biggest crypto exchange in the world.

you're betting that the team which has made zero progress on scaling in 7 years will suddenly scale to support the entire ecosystem. you're betting that intelligent, wealthy people with critical thinking and rationality will trust arbitrary decisions of anonymous eth devs with their life savings they wish to preserve for their heirs.


i genuinely wish i had the ability to be this out of touch with reality as you show here

ETH is more decentralized, but it's equally as vulnerable to regulation as BSC, making the decentralization difference negligible. Also the DeFi/NFT traders don't care about decentralization; they only care about an open system they don't need to KYC to use, which you don't need much decentralization for.

A bet on BSC is basically a bet on Binance, for as long as Binance is a dominant player, they will always be able to get users to swap to BSC off of ETH.

ETH can't even handle one chain, nevermind interlinking others; how that's plausible to you is beyond me.

it's counter-productive to explain to them why it's not a scam. since they are the ones who have identified the issue, they should be able to explain why they think it's a scam. as they explain why it's a scam, you'll quickly realize that a) they don't understand bitcoin and b) it's far easier to correct them on the points they raise

Polkadot won't do much to displace ETH because it requires an entire re-education of deploying and using smart contracts. You need to rebuild the network effects from step 1. That's like trying to climb a mountain, but putting a bag of rocks on your back first. It doesn't benefit from the encyclopedia of documentation and open source software designed for ETH.

Learn from CZ: To kill ETH, you copy/paste it, and make it cheaper and faster. BSC has blown past all ETH competitors very quickly, if you haven't noticed.

BSC has the exact same security model as ETH

Binance does not have access to your private keys, just as ETH devs don't have access to your private keys. You can self-custody BNB just as you self-custody ETH.

You seem to be thinking about your funds held on Binance exchange, which are not yours, they are Binance's funds.

Sure, Binance can change their protocol whenever they want, but so can ETH (if you haven't noticed, they hardfork about once a month... ex: EIP 1559 is an extremely controversial hardfork which devs are bruteforcing in despite a lot of legitimate pushback)

In BSC, you're trusting Binance devs, in ETH, you're trusting ETH devs.

You don't need a fully decentralized system to host DeFi/NFT projects; you only need enough for them to be open and KYC-less. BSC opted for more centralization with PoS, so they can gain 100x cheaper and faster transactions. A very smart trade.

If regulators ever attempt to control these DeFi projects, projects on ETH are just as vulnerable as BSC (start fining amazon for allowing ETH nodes to be run on aws, and ETH dies; it needs commercial cloud services to run nodes)

And binance-bridge facilitates moving assets from ETH to BSC. If this died, BSC would not die. Also this service does not need to rely on Binance the exchange; it can be done all on-chain

Yes, coinbase is the worst exchange in the space. How it's the most popular I have no idea

If your wallet.dat isn't encrypted, you don't need any words to access it.

You're saying that Bitcoin Core (new version) created this file "wallet.old" when you attempted to view your wallet?

Polkadot, Cardano, EOS, etc are all run by morons.

To kill ETH all you need to do is copy/paste it and make it faster and cheaper. That's exactly what CZ did with BSC, and it's surpassed all the other silly ETH competitors very quickly.

BNB is currently 100x better than ETH, priced at 0.23ETH

Even if ETH fees were equal to BSC, BSC would still have a significant advantage. Binance can provide infinite incentives to motivate users to swap to BSC from ETH.

ETH has no properties which cannot be effectively copied/pasted except for it's network effect. Binance has a bigger network effect.

BNB is not threatening ETH only because of ETH's high fees; although it helps.

Binance, the biggest crypto exchange in the world, is offering incentives for users to stop using ETH and start using BNB. that's a lot for ETH to compete with. Imagine what an altcoin project would pay for 24/7 advertising on every page of Binance. BSC gets this for free.

If you haven't noticed, DeFi/NFT users don't give a shit about decentralization. CZ is taking advantage of that fact by offering a more centralized network, but the trade-off is that it's 100x more scaleable, cheaper and faster. A long criticism of ETH is: "If this is useful and successful, then competitors will simply fork it and offer it cheaper and faster". Oh, that's exactly what CZ did!

ETH devs have failed to provide a solution for scaling in 5 years. They've simply failed and now they need to deal with more competent competitors. If ETH fees go to $1 tomorrow, they'd still have a very significant challenge.

ETH fees are more likely to decrease because people stop using it than ETH devs do something innovative for scaling.

ETH Foundation approximation for ETH2 2.0 is late 2022. they have missed every deadline they've set by at least a year, why would this be different?

what makes you think the high fees will be resolved in July? EIP 1559 does not reduce transaction fees, it burns them. ETH would need to reduce fees by 10000% to compete with BSC. you need ETH2 Phase2 for that.

you'll need to wait until about 2024 before they can address the fee issue (Phase 2 ETH2). the only ETH competitor that matters is BSC, and it's a huge problem for them

It's not just institutional investors that Bitcoin has and Ethereum doesn't. ETH more generally will always have an issue getting intelligent investors of any kind who don't like the fact that they're trusting the actions of a few developers with their life savings. those with big money are more interested in protecting it than growing it

no, this is not a normal situation for Ethereum. this is the first time in history ETH has had a competitor with a brain (CZ!). BSC can do everything ETH can do right now, at 100x the speed and 1/100 the cost. sure it's less distributed but who cares?

ETH price of $2100 may sound impressive but actually it's a massive disappointment for the ETH Foundation who have tried everything to drive it to $5k+ and break it out of the bear market vs Bitcoin

you're looking at 2024 at the earliest before ETH fees will decrease (Phase 2 ETH2 is when PoS is live)

it's more likely ETH fees will decrease because people stop using it than the ETH devs actually show some competence to reduce them

if you want more excitement in your life just trade BTC with high leverage. no need to give up your money to hardcore scammers