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In this video, I discuss a scenario where a nation-state attacker has captured 33%-51% or more of the ETH supply and is actively censoring transactions, leading to a Vitalik fork of Ethereum.
In this case, all government-regulated entities like Coinbase, BlackRock, and USDC would side with the US government and support its side of the fork, rather than Vitalik’s side.
If Coinbase, BlackRock, and USDC don’t follow the Vitalik fork, there won’t be any significant economic activity on the Vitalik fork and it will be functionally dead.
When Ethereum transitioned to proof of stake, it effectively castrated itself and ensured future government capture.
Dreaming that Vitalik and Joe Lubin would actually fight the government in this kind of situation is also a fantasy.
Lubin, a co-founder of Ethereum as well as of ConsenSys which controls node operator Infura and the Metamask wallet, is very pro-CBDC.
Not investment advice! Consult a financial advisor.
How A BlackRock ETF Could Destroy Ethereum:
Consensys:
https://en.wikipedia.org/wiki/Consensys
Consensys loves CBDCs:
https://consensys.net/solutions/payments-and-money/cbdc/
https://insights.consensys.io/central-banks-and-the-future-of-digital-money
Ethereum co-founder Joseph Lubin faces new legal fight over employee equity:
https://blockworks.co/news/consensys-lawsuit-joe-lubin
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#ethereum
#crypto
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38 Comments
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Sad thing is the majority of people will never dig into any of this, they’ll just see the shipcoin price go up (like eth) and they’ll FOMO into it. Expecting a few more “Lunas” this coming cycle, maybe ethereum will be one of them, and another whole group of people will get shafted. I guess this is the economic Darwin Award, eh?
I just stay super humble and stack what little bit of bitty I can while it’s still available on exchange…
Can you respond on Saturday to how Spyware like Pegasus can effect btc?
The more I learn the more conviction. #Bitcoin truly is an amazing discovery. All others are grift and/or securities. Thanks for your continued contrubutions to the Bitcoin community Matthew!
You really need to stop beating up on Etheruem. It's like beating up on a disabled child. Not really a fair fight and just makes you look bad. Just let the Etheruem bros eat cake as they enjoy the fruits of their proof of stake, because we all know it won't be long before they can't afford steak.
Giving control of your coins (at least 32ETH) to some exchange like coinbase for staking no longer makes those coins yours. People are really stupid to fall for this.
It's straightforward: If it's not Bitcoin, it's 💩, and so are those who back it.
comment for visibility
There is so much shady shit going on from the very beginning of eth's history dealing with china
The EU approved the framework for a universal CBDC yesterday. This will be part of a digital ID which includes facial and retinal scan and will eventually include a subcutaneous chip for identity. All monetary transactions will be executed with a CBDC. Citizens will need this to travel or receive medical services. Yikes.
Vitalik will be in prison one day
Great video Matt, one thing you've omitted – the fork decision can also be done directly by Tether and/or Circle, since they eventually declare which USD tokens no which fork are valid nad redeemable.
This essentilaly gives Tether power to create a fork anytime they want, and ppl will follow, since they will not want to lose their money…
Thanks for the information.
I would PAY to see the scholarly response of the two people who asked you to deal with this question.
News for you. If the US Government had the appetite to attack or take control of Ethereum, they would absolutely be able to ban and stop Bitcoin. In your words the title of a video would be No Way Out For Bitcoin (Tragic). Note I am 100% neutral as I own zero Eth or Btc
Is this the official ethereum hater channel? Pathetic
Thanks Matthew
As ever great content
Good afternoon from the UK.. Excellent knowledge… If at all possible… Could you please look at what is happening with ZB pro… Thank you..
I agree with you… I think vita made a massive mistake moving from safe pow to post… Literally decimated Eth miners AND the gpu market… I thought he was a smart person
Great video. Thank you
Tragic. XD
Vitalik IS a sick individual; unfortunately most of the crypto circus has not checked that fact yet; they all will wake up sonner or later. Enjoy the show!
Seems to me ETH was made for Larry Fink !
First of all , if Vitalik forks Ethereum , everybody will follow Vitalik like it allready happen once. Do NOT forget that Ethereum Classic is the first Ethereum the Ethereum is a fork of it. Second , US Presidents don't want to kill their voters and most importantly they don't like people to know they financially kill the assets held by their voters. And third Ethereum has an extra layer of security Bitcoin doesn't have, in such case all validators held by the US Government will take a penalty -32 tokens and will be kicked out from the Beaconchain. US Government will take ALL the blame and life goes on.
They are Defacto governmental administrative tentacles. They are basically the financial sector's Corrupt ATF, DOJ, FBI, CDC, FDA and the like. This is why POW and Decentralization are so important…
There is no other, nor will there likely ever be anything on the level of #Bitcoin
#StayHumbleStackSats
In your imagination you can dream up a way of maybe bad things happening to eth. Lmao. #rentfree. Own both. They don't compete.
ETH was shit even before they moved from pow to pos.
Why do people stake. With Fiat, you earn interest because the bank lends out your money and the bank gets a better interest from the borrower. But there are not enough uses for cryptocurrencies, so how does the exchange benefit from having your crypto? I know that’s not how it really works, but the question is still intriguing.
Excellent content as usual
Largest rug pull in crypto?
Smh I don’t even feel bad for vitalik… he watched SBF go down and refuses to quit
Thanks Matthew. Great work as always.
F tyranny
Thanks for the fud buying more ETH
What about the threat of patent? For example, Reggie Middleton (Veritaseum) has a patent that was approved in the US and Japan related to DEFI. Do you think it will have an effect on advancements such as lightning networks development?
Bitcoiner 4life thanks matt
Always great informative content 👌.