I saw this post today from Vitalik Buterin saying "Ethereum is good" with a subtle sense of humor since he would have been told to do more bullposting... And apparently it worked!

This got me thinking... Are we being brainwashed about Ethereum? Are we buying into a narrative that's not entirely true? Let's dive into three false ideas that might make you question everything you thought you knew.

False Idea Number 1: ETH investors are smarter

• The Vitalik Effect: When Vitalik tweets, ETH pumps. It's the same phenomenon we see with Elon and DOGE. Does this mean ETH investors are making rational decisions, or are they just following the hype?

False Idea Number 2: Ethereum is the most decentralized smart contract blockchain

• The Layer-1 Mirage: Sure, the base layer might be decentralized, but what about the Nakamoto Coefficient? Coinbase and Lido could potentially take control.
• Layer-2 Centralization: Layer-2 chains are even less decentralized. You might as well use Binance Chain – at least you know who's in charge.
• Polkadot and Cardano: Frankly, I prefer their decentralization models. (Not financial advice, I only own DOT).

False Idea Number 3: ETH is ultrasound money, deflationary, blah blah blah

• The Blob Space Effect: Layer-2 gas fees are so efficient that the Ethereum base layer is actually losing money. ETH is inflationary again, not profitable at all.
• The Real Winners: The only profitable blockchains are Binance Chain and Tron. (I know, I don't like Tron either, but they're making bank).

Conclusion

So, is Ethereum brainwashing us? Are we blinded by the hype and ignoring the reality? Next time, we can talk about Solana brainwashing...

Disclaimer: This post is meant to be thought-provoking, not financial advice. Do your own research and invest responsibly.