Ethereum has been talking about upgrading for years. This is part of their shitcoin marketing strategy where they always promise the next great thing to keep speculators excited and engaged. Unfortunately their latest upgrade to Proof Of Stake comes with a lot of controvercy.
If you ask a mETH head, they will tell you this is more exciting than the coming of Christ, and they believe Ethereum will flip Bitcoin. If you ask any Bitcoiner, they will tell you this is just another hyped up bullshit nothing burger.
We decided to tap into our Bitcoin pleb network and get some raw and unfiltered hot takes to give you different perspectives on the matter.
What do you think about the ETH upgrade?
mETH upgrade = promised dog & pony show.
How successful do you think it will be?
Success exists to the extent nothing seriously breaks but that is far from certain. As a matter of fact, the exact opposite is likely. Breakage in some form is inevitable.
What do you think this means for Bitcoin?
It's completely irrelevant regarding the Bitcoin network but not the exchange rate of Bitcoin for dollars. That will always fluctuate with market perception & the perceived success (or lack thereof) of every other shitcoin, especially mETH.
What do you think about the ETH upgrade?
When you say upgrade, is this still referring to the switch to PoS?!
How successful do you think it will be?
ETH Upgrade is a failure by design. PoS will destroy the last bit of credibility of eth if it ever had any to begin with and remove the last anchor to the real world. Depending on the perspective it will be a success for the few that are in control of the current money and mainstream narrative. For a pleb that did not take part in the premine with multiple identities, this would mean doom if it wasn’t for Bitcoin. I see a small chance that it would also split ethereans as I see repeatedly how people in the comments refer to POW when they explain censorship resistance. It is a forced upgrade…those things just like mandates and every control attempt that goes top-to-bottom never perform well longtime.
What do you think this means for Bitcoin?
Bitcoin DOES NOT CARE. If it means anything then it would mean more people are being sucked into the space. With time or experience, they will ALL find Bitcoin for the monetary policies and predictability that it stands for. Thanks Satoshi!
What do you think about the ETH upgrade?
I think it's gonna be a dumpster fire lol!
How successful do you think it will be?
Same as above!
What do you think this means for Bitcoin?
I dont think it'll mean much for Bitcoin
What do you think about the ETH upgrade?
I honestly don’t pay too much attention to it. In fact, I still don’t understand the point of Ethereum. I know this has been in the works forever, but it seems like a giant mess from afar. I obviously don’t rate Ethereum highly at all, but moving to POS is just another negative for the coin.
How successful do you think it will be?
Im 50/50 whether the upgrade itself will be a success or a catastrophic failure. If it goes well, I think it will grab some hype and outperform Bitcoin in the short term. After all, this has been the main topic of conversation for altcoiners for years. If the upgrade goes poorly and creates a mess, this could be the abrupt end of Ethereum. The dress rehearsals in testnet have been successful so far, but it’s so big and clunky that anything can go wrong. Whether this upgrade is a immediate success or not, showing that the chain can change base layer logic means it can’t be relied upon. It won’t be obvious to the masses for a long time, but this upgrade will be seen as the starting point for its demise.
What do you think this means for Bitcoin
The upgrade is bullish for Bitcoin. I never saw Ethereum as a direct competitor, but Bitcoin now essentially stands alone as far as POW chains. The importance of POW is still not clearly understood by the vast majority of people, but it’s an absolute deal breaker. I do think Ethereum will receive some hype in the beginning, but it will signal the downfall in the long term. Bitcoin will continue to mine blocks and will swallow Ethereum s market cap.
What do you think about the ETH upgrade?
It's laughable but not surprising. ETH already made it clear in 2016 they dgaf about immutability or decentralization.
How successful do you think it will be?
It will be a great success for those that have a piece of the 70% premine pie. In practice? Anyone's guess whether things go horribly wrong technically or not.
What do you think this means for Bitcoin?
Tick tock, next block - BTC dgaf. If you have *one person* that figures out they need to get on a BTC lifeboat and abandon ETH I'd be shocked.
Pleb Underground is powered by a collective of Bitcoin pleb content creators. Thank you to everyone who contributes, supports us and shares our content. Follow us on twitter @plebunderground