Did Vitalik's AMA Change My Mind About Ethereum 2.0?
Vitalik's AMA did little to convince me of Ethereum 2.0.

Did Vitalik's AMA Change My Mind About Ethereum 2.0?

By AlucardLife | cryptoinvesting | 20 Nov 2020


If you're new here, I'm the guy who rants and raves about how stupid everybody is for sticking with Ethereum even though it's slow, centralized, philosophically confused and falling behind the tech curve.

I see a dim future for the network if Ethereum 1. does not speed up its update process and 2. blockchain tech continues to improve at the rate it has.

Did Vitalik's recent Reddit AMA change my mind about any of the viewpoints I had in the linked article above?

Not a one.

The AMA was insightful, but not on any issues that mattered to a midlevel investor. None of the points he made told me anything about why I should stake directly in the network. Vitalik spoke extensively on the technical implementation of the launch. He also attempted to address concerns of timing, condensing the roadmap for full implementation of 2.0 without giving specific dates.

None of this inspired me to add to the staking of Ethereum's 2.0 deposit contract.

There are still third party options that offer more to me, and as a midlevel investor, I don't get nearly as much of the upside as I deserve for such a huge investment in the future of Ethereum. Not only do I need to have 32 ether, but I also need to invest in a node that will stay online 24 hours a day, 7 days a week. I'm not protected against any sort of hacks or personal issues. This is a game for whales exclusively.

And the whales on Ethereum do not offer any sort of reason to join them in protecting this network. The line of questioning in the AMA was all profit-based. Basically, everyone who matters in Ethereum comes from degen investing, and they will leave smaller investors high and dry if they see the first opportunity.

The only advantage that the Ethereum Network truly has is first market move advantage. Matic, BSC and quite a few other networks have already solved the problems that Ethereum is still AMAing about. The edge ETH has is that no one wants to leave the platform for some reason.

I don't think this narrative will last. Crypto changes very quickly, and there is room for one more major changing of the guard. I think the final straw will come from the Ethereum Foundation's developers, who have shown a propensity for behavior that mimics fiat oligarchs. Once people see that the philosophy of Ethereum is flawed and other networks ramp up their profitability opportu

 


AlucardLife
AlucardLife

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