So I guess technically the merge worked, but it definitely didn't bring the results that all of these Ethereum shills were yelling about. This is exactly why I said that I was short term bearish on this entire process. In terms of trading, the merge was a buy the rumor, sell the news event — just like everything else in crypto.
The actual reality of the merge was also underwhelming. Of course we knew that simply changing over to proof of steak wasn't going to lower gas fees, and we were correct about that. There's not enough volume on Ethereum to raise gas fees, anyway. When I was trading on UNIswap and sushiswap, I got the same gas fees as I had been getting on the proof of work Ethereum chain.
However, all of the environmental crap that everyone was talking about definitely did not occur. I mean, if the proof of stake Ethereum chain is all of a sudden supposed to be this jolly green giant, then why is my computer fan still working overtime when I go to sushiswap? Absolutely nothing changed about that, and the process may have even gotten worse. So in terms of resources and carbon footprint, there is no improvement here.
Can somebody tell me when that is supposed to change? I mean, we have no volume on chain, we are now supposedly in an environmentally conscious chain, and my computer is still working overtime to get transactions done. I think somebody lied to me.