20 sats \ 3 replies \ @jp 16 Sep 2022
Distro for bitcoin mining is similar.... https://m.btc.com/stats/pool?pool_mode=year...
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20 sats \ 2 replies \ @Modus 16 Sep 2022
Not comparable. BTC mining pools are very different from Eth staking entities.
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0 sats \ 1 reply \ @faithandcredit 16 Sep 2022
In order to compare the most popular PoW pools with the most popular PoS pools. it would be like giving your miner to a 3rd party and having them do all the work. In that case they would practically own the equipment and you would have a hard time switching to another pool in case of emergency. In ETH they believe its not a problem, maybe its not, as long as Bitcoin exists it will keep ETH more honest and fair, regardless of how much it centralizes. But if ETH gains a monopoly, it will show its true face.
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0 sats \ 0 replies \ @jp 16 Sep 2022
Can you elaborate?
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1 sat \ 0 replies \ @DeezSats 16 Sep 2022
Better link
https://nitter.it/HodlMagoo/status/1570486024702414850
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10 sats \ 0 replies \ @TheBTCManual 16 Sep 2022
While this just shows the centralisation, the pull of wealth without work IE staking is very popular with normies and they will continue to pile into this ponzi as ETH attacks bitcoin on the "no yield" narrative and low energy "narrative" There are far more people without critical thinking skills and money and will rightly lose it
Its bullish for bitcoin long term, ensuring that people who hold stupid beliefs get rekt and end up with less ownership of the bitcoin network is always a positive in my eyes
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0 sats \ 1 reply \ @scampy 16 Sep 2022
Yup, anyone paying attention knew this was inevitable. It's only set to get worse due to the centralising pressures of costless production, staking derivatives and MEV. Wouldn't be surprised to see Lido hold > 50% this time next year.
I'm seeing so much confusion from ethereans on this, too... they keep equating staking pools to mining pools, which have similar distributions. They don't understand that switching pools is trivial (see Poolin), or that pools don't have custody over the ASICs. What exactly can they do if Coinbase is ordered to stop paying yield? Fuck all. And even if the code to withdraw was written (which could be years away), there's no guarantee that Coinbase would let them. We know how frequently exchanges blow up.
Ethereum is destined for state capture. Unfortunately for now, we'll have to brace ourselves for the monumental wave of ESG bullshit coming our way.
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100 sats \ 0 replies \ @gd 16 Sep 2022
I wrote a Twitter thread yesterday around this comparison. It really does feel like people forget about how important nodes are because they can't stop thinking about miners
https://twitter.com/GaryDevenay/status/1570411808233779204
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0 sats \ 0 replies \ @w3irdrobot 16 Sep 2022
it's over looking at it from the viewpoint of us bitcoiners. I'm sure the ETH people think it's awesome.
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0 sats \ 3 replies \ @AJ1992 15 Sep 2022
Not good at all.
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0 sats \ 2 replies \ @moneroshill OP 15 Sep 2022
it's not good, it's fucking amazing. ETH is a bloated ponzi piece of shit and it's finally getting destroyed.
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0 sats \ 1 reply \ @AJ1992 16 Sep 2022
Eth is trash, I'd agree, but I think it's trash because. Of their gas fees. Back when ETH gas was five cents or less I'd move almost everything in eth because I'd always get in a block within 60 seconds by checking ethgasstation.info and using their recommendations. Ever since it spiked, it's trash. But at least ETH has a blocktime that's consistent.. UNLIKE BITCOIN. Eth is trash but it's still better than Bitcoin for the most part, hate me all you want, it's a fact. Only place Bitcoin has the edge between the too is tx fee sizing.
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1 sat \ 0 replies \ @DeezSats 16 Sep 2022
Lol
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