They convinced people to stacked funds in ETH 2.0 with the promise that 6 months after the merge they will be able to withdraw their stake plus the reward of the PoS system
That went to, well 6 to 12 months.
Now "ETH Foundation" (whatever that means) removed any timeframe for withdraw from their website 😂
Is this real? And for some reason some people still love it
Very truth comment from Lyn Alden
-Raise capital from an IPO.
-Spend seven years with a difficulty bomb in place to maintain centralized dev control.
-Do the Merge.
-Keep withdraws within centralized dev control.
-???
It's just a matter of time before stETH/ETH depegs and a nightmare for stakers will ensue.
To make matters worse, you didn't even have to agree to it on some exchanges. If your ETH was staked, or even sometimes held there, it would be converted into ETH2 for the merge. Im still trying to figure out what to do with mine
Sell it? What else do you need to figure out?
Maybe you want to wait until the exchange rate peaks again for most profit. Been there, done that. But then I realized I am holding a hot potato and wanted to get rid of it asap. No reason why it should peak again, ETH like most shitcoins didn't hit their previous ATHs regarding their BTC exchange rate (if I am not remembering it falsely)
Easens one's mind.
just sell it and free your mind. swap for bitcoin, take self-custody. if eth peaks, bitcoin will have already peaked again. all these scams ride bitcoin's coat tails
I agree. No real point in holding if its just going to rise in tandem with bitcoin. But if some big ETH based metaverse project takes off…couldn’t it have a chance to surpass?
I don't think anyone can define "ETH based metaverse project" besides marketing people from companies trying to get a piece of a cake that doesn't even exist lol.
I guess what i’m talking about could be better defined as a web3 project on the ethereum blockchain, using ETH as its main token. It would have to be a massive, widely adopted project to have any hopes tho…i think…
The thing is that these are concepts created by marketing people and they are trying to force people to used them. Web3 is absolutely nothing else than an idea, there are not Web3 projects besides the ones in the minds of some people and their promises. Can you or anyone name any "Web3" project?
I think this is a great topic for a new discussion.
yes. it's the equivalent of buying several scratch offs at your local market in hopes to make a quick cuckbuck.
remember all those crypto-bros were shilling these "low cap gems" because of their supposed utility then elon randomly pumps dogecoin, a known memecoin, and out performs everyone.
stay humble, stack sats, hodl your own keys, run your own bitcoin, and collaborative spend.
I think you replied to the wrong person haha
whoopies
Can someone ELI5? If I have some random ETH is it "eth2"? Can that be cashed out?
Yes, "eth2" is Ethereum. They tried to stop calling it Ethereum 2.0 because people got confused and thought they have to do something. They don't.
Every Ethereum in existence is still the same as before the merge. You can now only also stake it. Then you can't cash out (except for liquid staking).
The only other Ethereum tokens are ETHW (ETH which still uses Pow) and ETC (classic ETH where the DAO hack isn't reverted)
Whats the point of ETHW? Is it just that its still mine-able??
Keep yourself safe and stay away from shitcoins. They are all scams. Secure your future, stack sats.
Fuck Eth they are so sus
I had my shitcoining phase...got some eth locked up in coinbase forever 🤦♂️
It gets worse. In order to prevent a scenario where everyone exits at once, withdrawals will be staggered. Earlier stakers get priority. So even if this feature was enabled tomorrow, it could be months / years before a 2022 staker gets to withdraw.
Also being surprised that ETH is considered a security is just absurd. They set up a company that sold tokens to raise cash to build their tech. That is literally what investment is, which makes those tokens a security.
Lol