There is an idea of a David Hoffman. Some kind of abstraction but there is no real me. Only an entity... something Non Fungible. And though I can hide my fake smile and you can see my persona and feel my shilling ear fucking you on my podcast and maybe you can even sense your an Eth-head too and our lifestyles are probably comparable. I simply am not there.
Ethereum hasn't been Ethereum since Ethereum Classic. The Ethereum DAO formation in May 2016 was supposed to be a venture capital fund with no centralized authority presence to ensure no single person controlled the funds. By June, a hacker was able to take advantage of the decentralized nature of the platform by using a recursive call attack to send Eth out mutiple times before the smart contract could update it's own balance. In the first few hours the hacker managed to drain 3.6 million Eth from the DAO. A saving grace of the smart contract was that the hacker would have to submit a proposal and have it passed by the community, in order to take the money out of the DAO completely. This provided a conundrum with 3 possible choices: allow it to happen, initiate a soft fork or initiate a hard fork. Despite the majority of the community being against a hard fork, Vitalik and company went ahead with the process that created a restore point on the blockchain to just before the hack and rewrote history to restore the stolen Eth to investors. This move was in complete opposition to the culture of a Decentralized Autonomous Organization which the Ethereum blockchain was proving that it was in fact centralized and maybe the immutable blockchain was not so at all.
'Is that a new phone?' 'New NFT what do you think?' Whoa very nice!' 'I had an A.I algorithm generate the same image and now I have a collection with 2000 versions. The shading is something called Free-form scribbles.' 'It's very cool Hoffman but that's nothing look at this. Oldeus: Origins shaping the next generation of mangas.' 'Nice... How'd an ape like you get so tasteful?' "I can't believe that Ryan prefers Matney's NFT to mine" 'Wait you ain't seen nothing yet. Pale nimbus... white, last sold for 0.118 ETH.
'Impressive very nice. Hmm. Let's see Beeble's NFT.'
"Look at that subtle off-white coloring. The tasteful thickness of it. Oh my word, He even put the logos on all the dicks."
The Neutering
The monster that is Ethereum is a software company posing as blockchain technology with a CEO named Vitalik Buterin and if it was always the intention of the Ethereum Foundation to move from Proof of Work to Proof of Stake then there was never to be anything truly decentralized to be built on the base layer. It is important to know that the degree of decentralization of blockchain networks varies. This implies that decentralization is a spectrum and not an actual state. Decentralization can be interpreted as fully autonomous, no middleman, trustless (permissionless); Dapps do not met this criteria when the Layer 1 chain can be censored.
The founders of Ethereum solidify control of the blockchain by moving from PoW to PoS. PoS = the more coins you own, the more control you have over the protocol. There was a hugh pre-mine of coins before the ICO in Switzerland. Rent Seeking: is an economic concept that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity. The more Eth that you have staked, the higher the probability that you will be chosen to validate the next block and earn more Eth as a reward.
Remember that one time Infura, the default endpoint used to access mainnet via MetaMask was down in Venezuela. Now that seems very hypocritical that you would call your blockchain decentralized or trustless yet still sanction certain countries. There was an easy work around by using another node provider like Alchemy or Pocket Network but the default endpoint is pretty indicative of the blockchain intentions. Did you agree when they blacklisted the Tornado Cash protocol and read between the lines that anonymity would not be tolerated on Vitalik's FED chain? People stopped using the protocol because they upped the fees to a ridiculous amount, barred addresses that had any associations with the protocol from software company dapps such as Uniswap, Aave and MakerDAO and pretty much made it clear that if you used the protocol your address would be blacklisted.
It's Hip to be Square
"Hey Vitalik do like Satoshi's whitepaper?" 'Uhm it was okay.' "His early work was really groundbreaking in solving The Byzantine Generals Problem and I think he or they really came into their own in 2008 financial housing collapse. The whole whitepaper genius is perhaps the small block header size 1MB allowing the chain to grow organically and for the average person to still house the blockchain on their node for 435 GB. He's been compared to Dorian Nakamoto but I think Hal Finney far more enjoyed his cypherpunk disruption to Austrian economics. "Hey Sean-Adams?" "Yes Buterin?" Why did you have pictures of your NFTs laying around... your not going to try to give me one are you?" "No Buterin". "Is that a raincoat?" "Yes it is. In 2019 Robbie P 808x release this... Bitcoin slang his most viewed video. I think his undisputed masterpiece is Bitcoin slang (epic Bitcoin rap song). A song so catchy that most people probably don't listen to the lyrics but they should because its not just about the pleasure of conformity and the importance of trends. It gets real funny at the end when some guy is going off on Peter Schiff about the value of Bitcoin. Hey Vitalik. AAGGHHHH. TRY DOING A RAP WITH THE ETHEREUM FOUNDATION NOW YOU FUCKIN' BASTARD! AAAHHH. YOU FUCKIN' BASTARD."
