# [PCGamer] Ethereum won't ditch GPU cryptocurrency mining until much later in the year



## Space Lynx (Apr 14, 2022)

Ethereum won't ditch GPU cryptocurrency mining until much later in the year
					

Seems like Ethereum won't be moving to proof-of-stake just yet.




					www.pcgamer.com
				




_On Tuesday, ethereum core developer, Tim Beiko, confirmed on Twitter that the much-anticipated Ethereum Merge will be delayed from June to a "few months after" according to the tweet (via CoinDesk)._

Who knew? Who knew?  

What a fucking joke.  All because of World of Warcraft nerfed a character in a patch this shit is never going to end... what a fucking joke our species is.  LMAO

Sauce









						NFT mastermind says he created Ethereum because Warcraft nerfed his character
					

WoW patch 3.1.0 made him ‘realize what horrors centralized services can bring’




					www.polygon.com


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## Selaya (Apr 14, 2022)

looks like they still havent managed to sell off all their ETHs (yet).

oof.


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## R-T-B (Apr 14, 2022)

I don't get it myself.  The livetest went well, and this news is not helping eth price.  I wish they'd just hurry it up, both from an investor perspective and as a citizen of the planet.

It doesn't matter much though ultimately.  Mining is presently heading towards a slump and I'm certain they will have transitioned before the next mining bull run has any potential.


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## Space Lynx (Apr 14, 2022)

its more as im just not sure i care anymore. mine away. who gives  aflying fuck about anything anymore. speaking of which, my latest health insurance denied my medicine again even though my doctor says i need it LOL

what a fucking joke all of it is


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## kapone32 (Apr 14, 2022)

Nicehash is all I am going to say. It pays people in Bitcoin to mine ETH.


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## ir_cow (Apr 14, 2022)

Lol it will be delayed until 2030 at this rate. The team must realize that the coin support will radically drop off once it transitions. Only thing keeping this $hcoin a float is gpu mining.


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## mb194dc (Apr 14, 2022)

One word: Worthless.


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## trog100 (Apr 15, 2022)

i expected it to get delayed.. i cant say why but i just did..

trog


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## R-T-B (Apr 15, 2022)

ir_cow said:


> Lol it will be delayed until 2030 at this rate. The team must realize that the coin support will radically drop off once it transitions. Only thing keeping this $hcoin a float is gpu mining.


It supports a lot of other coins, pretty much the majority of them actually.  I don't see it caving like that as such.


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## MentalAcetylide (Apr 15, 2022)

CallandorWoT said:


> its more as im just not sure i care anymore. mine away. who gives  aflying fuck about anything anymore. speaking of which, my latest health insurance denied my medicine again even though my doctor says i need it LOL
> 
> what a fucking joke all of it is


That's when you take it to arbitration, if possible, or sic the government on them. Some of these health insurance companies don't seem to understand that denying someone coverage of a few hundred or thousand dollars in medicine could mean said insurance company will end up paying a few hundred thousand dollars later on down the road; and at the worst, end up paying out a multi-million dollar settlement in a wrongful death lawsuit.


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## Space Lynx (Apr 15, 2022)

birdie said:


> This is the most illogical and wildly inaccurate thing I've ever read about crypto. Let me hand you a medal, sir!



oh is it? World of Warcraft nerfs your character so you go batshit crazy and say centralized everything is evil, so you make something that destroys the planets climate even further with gpu mining... yeah cause decentralized healthcare has worked out great for our society... while Australians and other first world countries with centralized healthcare love their healthcare and prosper as a society because of it...

god forbid though... World of Warcraft shows the dangers of a centralized system!!!! ooooo aaaaaaa


enjoy paying taxes on your decentralized shit...


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## chrcoluk (Apr 15, 2022)

This was originally announced to happen back when I had my 1070s, it will get delayed for infinity.


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## Testsubject01 (Apr 15, 2022)

R-T-B said:


> I don't get it myself. The livetest went well, and this news is not helping eth price. I wish they'd just hurry it up, both from an investor perspective and as a citizen of the planet.


Currently, they are more or less the only reason for “viable” GPU mining and high GPU pricing, even though it is heading in the direction of a downwards spiral at the moment.
They quietly changed the ETA of the merge twice on the webpage in recent months, wouldn't be surprised if hands are getting greased by now. After all, the crypto market grew to a multi-billion dollar “investment venture” in the past decade.


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## Vayra86 (Apr 15, 2022)

CallandorWoT said:


> oh is it? World of Warcraft nerfs your character so you go batshit crazy and say centralized everything is evil, so you make something that destroys the planets climate even further with gpu mining... yeah cause decentralized healthcare has worked out great for our society... while Australians and other first world countries with centralized healthcare love their healthcare and prosper as a society because of it...
> 
> god forbid though... World of Warcraft shows the dangers of a centralized system!!!! ooooo aaaaaaa
> 
> ...


But its not Ethereum where crypto and mining originated, so what's the connection between WoW and the self applied apocalypse all about then? If anything you could defend the idea Ethereum is furthest, allegedly, in reducing the impact. If that's what you choose to believe, because honestly, I'm not so sure it'll ever come to pass.


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## R-T-B (Apr 15, 2022)

Testsubject01 said:


> Currently, they are more or less the only reason for “viable” GPU mining and high GPU pricing, even though it is heading in the direction of a downwards spiral at the moment.


They are a factor (a big one) but hardly the only reason.

I'm well aware of the history.


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## caroline! (Apr 16, 2022)

CallandorWoT said:


> Can't wait for government to get desperate some more and tax the living fuck out of crypto even more, its going to be to great to watch the great selloff.


people in third world hellholes trying to survive one more day thanks to crypto reading this:





It's easy for americans and europeans to say crypto is shit and a joke because they earn inxs of $5-6k a month, they can use it to gamble a couple hundreds and maybe get some small profits but that's about it, if they want big money they just go to stocks trading as their financial systems are relatively stable and don't have 60% inflation/mo, wish I could say the same about crypto, at first I also thought it was just a meme coin but then I saw my profits and realised I had literally a fourfold increase in my income when BTC hit 50K, at that point my job was paying me about $100 a month, but also what I made with crypto in just a week just by mining, no trading at all. Having $100 a month is definitely not the same as $500 a month, not even qualified engineers earn that much in my country so that's why they choose to leave for western europe or america. When I saw the big dump coming I traded mostly everything for stable tokens and also some Euro cash in the black market.

Crypto was a game changer for me, of course I wasn't dumb enough to say "hurr durr gonna leave my job and live off trading XD" like others did because I know how prices fluctuate, but still, it's not as bad as living through a constant hyperinflation and needing a wheelbarrow of cash to get a pack of gum.

There's still P2P but it's tru underground and only for the most 1337 h4x0r5, not everyone can operate there as you often need hardware wallets, encryption codes, etc.
normie exchanges are THE SAME as regularl banks, it's ridiculous to say ETH or just surface level crypto in general -including shitcoins- is decentralised, the truth is corporations and governments have ruined crypto and are forcing users to prostitute themselves to KYC/AML and using smartphone apps to gather all of their sweet data, as always, for "security" reasons, heh... if it's not the oldest excuse in the world.


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## Sandbo (Apr 18, 2022)

It’s probably redundant to say “in the year”.”


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## Mac the Geek (Apr 18, 2022)

In April 2022, Ethereum proof-of-stake is roughly "six months away".
Six months ago, Ethereum proof-of-stake was roughly "six months away".
Twelve months ago, Ethereum proof-of-stake was roughly "six months away".
Eighteen months ago, Ethereum proof-of-stake was roughly "six months away".

Gosh, I wonder if there's a pattern developing here...


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## R-T-B (Apr 19, 2022)

Mac the Geek said:


> Gosh, I wonder if there's a pattern developing here...


The last two aren't true at all.  They only started pushing the "this year" thing in early 2022.

Before that, the last missed deadline was YEARS ago.

Not that their rep is solid, but let's stick to some factual information, yeah?


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## Vayra86 (Apr 19, 2022)

caroline! said:


> people in third world hellholes trying to survive one more day thanks to crypto reading this:
> 
> 
> 
> ...


Do you know why people are in third world hellholes? Because they haven't managed to create stable financial systems. For reasons extremely diverse, and not to point fingers at anyone, but thats the long and short of it - you can take a brief look at Russia's exclusion from SWIFT and how China is trying to build an alternative. If you control financial stability, you control a whole lot of things. And stable financials go hand in hand with _TRUST._ Crypto is by definition untrustworthy for exactly the reason you describe: its volatile, unstable, and even if you can trust the blockchain, its users have a far too great influence on its value. So no, crypto isn't a solution, its just making hellholes deeper. And not just for third world countries, but for everyone. Crypto is the supposed 'win-win' where the real winners will remain anonymous, and make you think you're winning too. The bill however is footed to... you guessed it: those that have made themselves dependant on crypto. And guess who those are? The bottom of the social laddder and... third world countries. If you have wealth you have the wisdom to tell those you love: _Only go into crypto with money you can lose. _For every winner, there are losers, and crypto is remarkably close to a winner takes all principle, because its transparency and security is fake. Its not fake because the system is fake, but because it lacks checks and balances. The exact checks and balances that make our real financial systems *stable.*


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## GreiverBlade (Apr 19, 2022)

caroline! said:


> It's easy for americans and europeans to say crypto is shit and a joke because they earn inxs of $5-6k a month,


well... i earn around and even less sometime, than half the lowest amount in the range you specify and live in a first world country and not the cheapest one also ...

because of Cryptos is am rocking a 1070 since 5 yrs, because even the lowest of the low end is too expensive, well, "was" ... finally see some interesting potential upgrades, like a 6600XT,  coming to a pseudo sane price, aka the overinflated 530ish chf that my 1070 did cost me over the fabled unicorn that the 359chf MSRP  was supposed to be ...

yeah Crypto is not my teacup and i consider it to be the main culprit for a lot of thing, from scalper rise (the return) to normal retailer pricing and dreamer trying sell second hand 2070 in the 1200ish range ...
all that because of GPU mining ... it's a freaking plague~!

although i am not really generalizing ... (i do not blame miner, but rather GPU mining induced by the crypto )
but i'd like to remind you some 1st worlder are also quite poor by any standard poor but happy in my case ... i make do with what i have and content myself of it most of the time ... but i still hope i will see a change rather sooner than later ... (yeah ... i know i know 2500 is not a bad salary by your standard but in my country it's borderline poverty threshold)

as i like to say : "some have leasing for cars ... me, for computer parts... mostly"


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## Assimilator (Apr 19, 2022)

caroline! said:


> the truth is corporations and governments have ruined crypto


Oh boy, we've got a live one here folks.


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## lexluthermiester (Apr 19, 2022)

R-T-B said:


> and this news is not helping eth price.


If you mean the dive it took a few weeks ago, then yeah. It is hovering around $3k currently.


R-T-B said:


> I wish they'd just hurry it up, both from an investor perspective and as a citizen of the planet.


Yeah, they really do need to get the hell on with it!


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## trog100 (Apr 19, 2022)

i see the anti crypto sentiment is still running high.. he he

trog


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## R-T-B (Apr 20, 2022)

trog100 said:


> i see the anti crypto sentiment is still running high.. he he
> 
> trog


My sentiment isn't anticrypto (though there certainly is plenty of that here).  It's more as an investor and ethereum user.


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## timta2 (Apr 20, 2022)

This reminds of how the perpetrators of Ponzi schemes always keep telling people to "hold on", to not take their money out, wait until later or you will lose, etc.


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## freeagent (Apr 20, 2022)

If I hadn't started breeding I would have got in on this. By the time I became less ignorant to the subject and had some money it was too late. 

Ahh well. 

I was a bit miffed that I couldn't get a GPU though.. but that isn't the miners fault, they were willing to pay what others wouldn't/couldn't.. I don't hold a grudge for long


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## trog100 (Apr 20, 2022)

looking at the geopolitical situation i think the price of everything is going to head up big time.. wars in Ukrain.. china still locking down huge cities.. supply chain issues and whatever else you can think of things are not looking good..

the ukrain situtaion is basically a war between the collective west and russia.. the fighting just happens to be taking place in ukrain..

the lock downs in china puzzle me.. we are opening up and saying live with the virus yet the chinese are locking down millions.. ether the chinese are incredibly stupid or they know something we dont..

ether way folks who aint aware of whats going on need crawl out from under whatever rock they have been hiding under and wise up.. nothing is gonna get cheaper.. lots of things we take for granted may not even be available.. the era of "cheap" and ready availability is over.. get prepared.. 

trog


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## R-T-B (Apr 27, 2022)

timta2 said:


> This reminds of how the perpetrators of Ponzi schemes always keep telling people to "hold on", to not take their money out, wait until later or you will lose, etc.


I don't claim to know the future, or tell anyone what to do with their money.


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## R0H1T (Apr 27, 2022)

The eternal Ponzi conundrum?


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## R-T-B (May 12, 2022)

R0H1T said:


> The eternal Ponzi conundrum?


I think you misunderstand how ponzi schemes work...


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## Vayra86 (May 12, 2022)

trog100 said:


> looking at the geopolitical situation i think the price of everything is going to head up big time.. wars in Ukrain.. china still locking down huge cities.. supply chain issues and whatever else you can think of things are not looking good..
> 
> the ukrain situtaion is basically a war between the collective west and russia.. the fighting just happens to be taking place in ukrain..
> 
> ...



This is why China is still in lockdown.









						Xi Jinping attacks ‘doubters’ as he doubles down on China’s zero-Covid policy
					

President defends ‘scientific and effective’ mass lockdowns despite protests, shortages and damage to economic growth




					www.theguardian.com
				




Xi Jinping is suffering from the same God complex that Putin is suffering from. Its authentic for autocratic leaders, sooner rather than later, tunnel vision kills the Great Plan, but the Great Plan must succeed, because the Great Leader never fails.

The covid policies in China are Xi's little baby. This is why open democracies win the world over. Not because of great strong men, but because of collective thought leadership. And that starts and ends with free speech.

Here's another beginning God Complex, except here the main driver is nepotism in a ruling family. Another striking example of power and how it corrupts.









						Sri Lanka troops rescue ex-PM as houses torched in deadly night of unrest
					

Mahinda Rajapaksa rescued in pre-dawn military operation after day of protests in which eight people were killed




					www.theguardian.com
				




The world isn't quite so mysterious as people tend to think, most events are just people being humans; cause and effect, and not learning from the past.


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## R-T-B (May 12, 2022)

Vayra86 said:


> The covid policies in China are Xi's little baby. This is why open democracies win the world over. Not because of great strong men, but because of collective thought leadership. And that starts and ends with free speech.


There's a counter argument to that of course, and you can sum it up with a common english t-shirt slogan:

"beware stupid people in large groups"

You are mostly correct though.  Just there needs to be a balance, like most things, because there are genuinely times when the masses have no idea what is good for them.


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## Vya Domus (May 12, 2022)

R-T-B said:


> I don't get it myself.  The livetest went well, and this news is not helping eth price.  I wish they'd just hurry it up, both from an investor perspective and as a citizen of the planet.
> 
> It doesn't matter much though ultimately.  Mining is presently heading towards a slump and I'm certain they will have transitioned before the next mining bull run has any potential.



The truth is that it's in their best interest to keep ETH POW as long as possible, coins that can't be mined are bound to eventually fall into obscurity.


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## R-T-B (May 12, 2022)

Vya Domus said:


> The truth is that it's in their best interest to keep ETH POW as long as possible, coins that can't be mined are bound to eventually fall into obscurity.


I'm not sure I entirely believe that.  Afterall, you haven't been able to casually mine bitcoin for years...


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## Vya Domus (May 12, 2022)

R-T-B said:


> Afterall, you haven't been able to casually mine bitcoin for years...



That makes it even more attractive to investors with a lot of capital, the more scarce and difficult it is to mine the more valuable.


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## lilhasselhoffer (May 12, 2022)

trog100 said:


> looking at the geopolitical situation i think the price of everything is going to head up big time.. wars in Ukrain.. china still locking down huge cities.. supply chain issues and whatever else you can think of things are not looking good..
> 
> the ukrain situtaion is basically a war between the collective west and russia.. the fighting just happens to be taking place in ukrain..
> 
> ...



So....maybe it's time instead to view this from a different angle.  Let's look at etherium and other crypto as what they are, a vote against the confidence of current governmental structures.


Let me back this up, with a solid and simple example.  In the US there was a rather large push to get old cars off the road.  There were two main ways to incentivize this, to help pay for new cars or to pay to remove old cars.  From this, "cash for clunkers" was born.  Now, what in hades is that?  Well, if your car was over a certain mileage and year of production you could go to a certified location and sell it for more than the blue book value.  That is, the government was paying people from tax money to retire old cars...no matter their operational condition...and making it impossible for these old (but operational) vehicles to be sold on the market.  If you could get $4000 for a car or sell it to someone else for $3000 you didn't sell it to other people.
Why does this matter?  Well, all of those "clunkers" disappeared from the market...and people either had to buy new (and take on massive debts if they were in a low income bracket), or spend a lot more on newer used vehicles.  It wound up hurting a lot of people in the lower income brackets who needed a ride, and then you've got to consider what happened afterwards.  A regular sold car can be parted out...but the cash for clunkers program required that the cars almost entirely be scrapped out.  That is, converted into scrap metal.  This scrap then tanked the prices of steel...before the only viable market became selling the scrap metal to countries across the sea...where scrap was actually profitable.  These countries then had access to millions of tons of quality steel scrap, that could be reprocessed into anything with minimum labor.

Why do I cite the above?  Well, cash for clunkers was a government trying to make people do a thing because they wanted an outcome.  There are tons of examples like this...including the ethanol we now cut our gasoline with...that make no sense whenever the government incentive program disappears.  Heck, they even hurt us as a whole because good intentions mean nothing against bad decisions.



So...why relate cars and gas back to etherium, and to your quote about China "knowing something we don't?"  In the case of etherium it's about banking and monetary policies.  The US has a debt issue, that's very difficult to wrap your brain around.  We have "confidence" from the world as a hold-out currency.  That is, one in which everyone is willing to trade due to its value being reasonably maintained.  Despite this, or perhaps because of it, we've been allowed to accumulate governmental spending debts that are frankly silly.  Likewise, China has a policy of "Zero Covid" that has been...rather silly.  The short of it is that officials are incentivized to not report cases...and instead of dealing with their problems they impose brutal lockdowns that have people starving to prevent anyone from getting out of their homes...all the while not testing people officially.  It's a means to report no covid, while they know it is there, to meet the expectations and promises of Xi that "while everyone else will deal with Covid, China will be the country that stops it."  

So circling back, etherium is the monetary equivalent to hording gold bars.  It's not about being the best option.  It's not even about being a good option.  It's about people seeing this as an alternative to a financial system that they don't trust.  The funny bit is that instead of lending stability to the situation, etherium and bitcoin have largely based themselves off of traditional infrastructure and perceived value amongst a functionally limitless amount of parallel opportunities.


Let me quantify that too.  Litecoin, etherium, and bitcoin.  All fundamentally the same tech.  The only thing that separates them is their calculation pool.  Now, they are a lot like streaming services.  When my choice was Netflix or Blockbuster I signed up for Netflix.  They had about 80% of what I wanted to watch, and the remaining 20% either was time delayed or could reasonably be purchased and still have a bill below traditional cable tv.  Then we got Hulu, Amazon Prime, CBS all access, Paramount+, Peacock, HBO+, and Disney+.  About five years I joked that if Netflix wasn't the ruler of streaming it'd require us to buy 10 streaming services to match a modern cable package...and cost about the same.  It's less a joke now, and more depressing prescience.  
I believe that Etherium sees the same thing in their future.  When they actually do the switch, they'll effectively be changing how the service is perceived and alienating their old customer base that was tooled up for GPUs.  That will cause instability, and it'll get some people to migrate away.  The question is, will it be enough to tank them relative to a competing coin or will it be a bump in the road?  Netflix lost Disney content, Fox content, and a variety of other stuff.  They then gained originals...but this further fractured the market such that there was no primary locus.  There's still a reason to buy Netflix...or GPUs as an analog, but it's definitely no longer the unqualified success that it once was.  



TL;DR:
China knows how to lie to the world community better than anyone else.
Governments, even when motivated to do the right thing, can be so bafflingly stupid it isn't funny.
Etherium is probably delaying to prevent fracturing their market and becoming too dilute an influence to do anything.
Betting on intelligence from government as a way to justify their actions is a fool's errand.


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## Assimilator (May 12, 2022)

China's continuing COVID problem is entirely due to the fact that they (a) spurned Western vaccines for their own, proven useless, home-grown one (b) refuse to change the habits that led to COVID originally appearing because MUH CULCHAH. As such I wouldn't be surprised if COVID is an endemic problem in China for the foreseeable future, similarly to how Ebola keeps popping up in Africa. The cause is even the same: eating animals you shouldn't be.



Vayra86 said:


> This is why open democracies win the world over. Not because of great strong men, but because of collective thought leadership. And that starts and ends with free speech.


Yeah... half the people in the world's supposedly greatest "open democracy" decided that wearing face masks, and thereby not being sociopaths, was too much effort.


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## Vayra86 (May 12, 2022)

Assimilator said:


> Yeah... half the people in the world's supposedly greatest "open democracy" decided that wearing face masks, and thereby not being sociopaths, was too much effort.


Let's not go there, not only off topic but probably lighting a match we shouldn't, too. Even the way this comment is styled already screams it.



lilhasselhoffer said:


> So....maybe it's time instead to view this from a different angle.  Let's look at etherium and other crypto as what they are, a vote against the confidence of current governmental structures.
> 
> 
> Let me back this up, with a solid and simple example.  In the US there was a rather large push to get old cars off the road.  There were two main ways to incentivize this, to help pay for new cars or to pay to remove old cars.  From this, "cash for clunkers" was born.  Now, what in hades is that?  Well, if your car was over a certain mileage and year of production you could go to a certified location and sell it for more than the blue book value.  That is, the government was paying people from tax money to retire old cars...no matter their operational condition...and making it impossible for these old (but operational) vehicles to be sold on the market.  If you could get $4000 for a car or sell it to someone else for $3000 you didn't sell it to other people.
> ...


Fantastic insights, as always. Kudos


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## R-T-B (May 12, 2022)

Vya Domus said:


> That makes it even more attractive to investors with a lot of capital, the more scarce and difficult it is to mine the more valuable.


Same logic should apply to ethereum then, it would follow.


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