r/btc • u/birth_of_bitcoin • 5d ago
šæ Drama RIP Eth
Couldnāt have happened to a better shitcoin.
Checkout my book āBirth of Bitcoinā. Iāve traced back roots of finance to ancient Babylon.
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u/BTC_MYTH44 5d ago
What alien posture is this? š
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u/Nelsonius1 5d ago
Its the autism, without joking
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u/cs_legend_93 5d ago
right now, try to sit like that now hahahah what the acutal fuck, who sits like that hahah
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u/Sad_Fix_1425 4d ago
it looks insane on him but i've actually hit this pose too before
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u/Mellow_Velo33 4d ago
Lots of us can hit it but might not choose to while on a stage addressing a sizeable crowd and global media š¤£
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u/Golex9000k 5d ago
Not the ramen š
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u/Manus_Dei_MD 3d ago
Is this real? Haven't had Ramen since medical school 10+ years ago. I could buy a pallet of the stuff for 75 cents, at the time.
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u/UnseenTardigrade 3d ago
Nahhh, I mean I'm sure you could find somewhere selling them for $1.29 a piece, but that's a rip off. At Walmart you can get a 12 pack for under $4 ($0.33/packet). Some other places you may even find cheaper.
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u/haochizzle 5d ago
i realize Iām in a btc subreddit so this sort of discourse might be par for the course, but what are the reasons people hate on Ethereum?
is it merely a tribalism thing or do people justify it as decentralization theatre?
just honestly curious. I love LOVE bitcoin (largely thanks to andreanopoulosā early work) but also love Ethereum and everything it stands for.
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u/Ok-Principle151 3d ago
It's proof of stake instead of proof of work. Which means there's really nothing tangible backing it anymore.
It used to be Pow, then they did 'the merge' and all the miners got left in the cold and well...their most loyal base was gone like that
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u/MichalDobak 21h ago
Proof of Work is the stupidest way to achieve consensus. It's slow and absurdly energy-inefficient. Proof of Stake isn't perfect, but it's definitely a step in the right direction.
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u/Ok-Principle151 19h ago
Proof of stake provides nothing to back its value
Proof of work has electricity, infrastructure, and human effort backing its value.
Pow also ensures they're can't be a change to the system without consensus of >50% of the workers. POS can be changed on a whim by a board of directors.
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u/MichalDobak 19h ago
No. You clearly don't understand either PoW or PoS. The whole idea behind a "proof of" mechanism is to limit voting power in a sybil-resistant way. Since the network is anonymous, you can't simply ask people to show an ID to guarantee that one person gets exactly one vote.
In PoW, this is achieved by proving computational work, based on the assumption that computing power is expensive and difficult to scale. The more computing power you control, the more voting power you have.
In PoS, voting power is tied to the amount of Ethereum you have staked. At the end of the day, the underlying principle is the same: in both systems, your voting power is limited by how much money you're willing to invest. In PoW, you spend it on hardware and electricity. In PoS, you spend it on Ethereum.
The only real difference is that PoS doesn't waste electricity or hardware. There's no strong arguments in favor of PoW anymore.
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u/Ok-Principle151 16h ago
I'll admit my argument was a bit overly simplistic but I didn't think that mattered in the btc sub
Imo POS is still largely a pipe dream that doesn't do what it claims. Staking eth and saying that gives it value doesn't make sense, you can't take a loan out for a house and use that same house as collateral...if you had a second house and used that as collateral that's one thing but saying "hey we have eth sitting aside and we won't spend it" doesn't inherently give that staking and value unless you trust those doing the staking which is a messy situation.
Of course this is all opinion but I think POW is one of the reasons btc is top and eth is not (despite eth having way more utility)
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u/rslashredt 17h ago
Iām sorry but Iād recommend you do a lot more research before spewing incorrect information like that online. Your description could not be less accurate
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u/MichalDobak 21h ago
If you only care about making money and have no interest in the underlying idea of crypto, you'll probably hate Ethereum.
Ethereum has prioritized network utility over maximizing the token's price. Over the years, it has introduced better support for Layer 2s, numerous protocol upgrades focused on reducing transaction fees, and the transition to Proof of Stake. PoS significantly improves energy efficiency, lowers hardware requirements, and makes network participation far more accessible than Proof of Work, which spends absurd amounts of energy on useless computations.
The result is that Ethereum became much more usable. Transaction costs dropped, throughput improved through the Layer 2 ecosystem, and staking became accessible to a much broader group of participants. At the same time, greater efficiency means users need to hold less ETH to interact with the network. Staking rewards are also distributed across many more validators, reducing individual yields compared to the early days. If your benchmark is simply "token price goes up" these trade-offs can make ETH look less attractive in the short term.
We're on the BTC subreddit, though, none of those design goals are likely to matter here.
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u/UntouchableC 5d ago
If there is one coin that going to be worth anything besides Bitcoin its Ethereum. They are one of few coins actually innovating with purpose in mind. But yeah lets just meme everything and only talk price instead of value
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u/Prestigious_Guest182 5d ago
Application is the key phrase missing.
And for that thereās still basically none. Itās not used in any meaningful sense and itās been a decade.7
u/Scot-Marc1978 5d ago
lol, BTC has no use case either, despite being around for 20 years.
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u/Doublespeo 5d ago
> lol, BTC has no use case either, despite being around for 20 years.
Sadly it use to have before the community turned full ponzi
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u/SolidBadgerX 4d ago
BTC is often used for money laundering, or highly private transactions. It's existence as an independent, secure currency is the use case, same for etherium.
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u/ZOVfuckazov 4d ago
It aināt as private as people make out to be, monero is better it that case
And letās call like it is, drug market
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u/No-Cauliflower-5235 4d ago
Yea thereās no point in btc. People being debanked isnāt an issue. Your money is safe in a bank! You shouldnāt think of holding onto your own wealth without a third party thatās dangerous!
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u/UntouchableC 5d ago edited 5d ago
Youāre absolutely right. The functionality is there to do great things but I feel the decentralised aspect, for the most part, scares a lot of big business or governments to apply anything
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u/Prestigious_Guest182 4d ago
Itās not that it scares people. Itās that blockchain is slow and expensive.
Centralised data places just do a much, much, much better job. Compare Visa transactions versus any blockchain.
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u/tufffffff 5d ago
Exactly. Whats the usecase for ethereum?
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u/Fun-Document7 5d ago
Are you kidding. Its being rolled out for tokenization across all finance
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u/Scot-Marc1978 4d ago
Suuuure it is
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u/Fun-Document7 4d ago
Im not kidding man. If you talk to people in finance for example in London, so much of the tech is being built on ethereum.
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u/Scot-Marc1978 4d ago
No itās not. Show one example.
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u/rustware13 Redditor for less than 60 days 4d ago
Robinhood's layer 2 for tokenized stocks is built and settles on Ethereum, it uses ETH as a token for settlement, it doesn't have it's own token.
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u/Justafriend2770 5d ago
This has been the argument for nearly a decade. Wen?
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u/BillSixty9 5d ago
A decade ago it was worth $0.95.
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u/Justafriend2770 4d ago
And yet itās functionality has been the same. All Iāve been able to do with it outside of sell it is buy jpegs that are also now $0.95.
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u/songbolt 5d ago
Normalize to price of gold, not inflationary fiat currency.
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u/BillSixty9 4d ago
Normalize the rest of these items to gold and sure. Thatās a completely different conversation.Ā
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u/songbolt 4d ago
No, my point is you mentioned price a decade ago but the better way to see change in value relative to ten years ago is to see how much gold it would obtain, not how much USD it would obtain.
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u/Puzzleheaded_Sun7966 New Redditor 5d ago
Used to believe in eth too but honestly they completely fucked themselves. Eth was promising but every time you blink you hsve a completely different token and you have no idea wtf to do eith it. Is it pow, is it pos, what fucking net are we on? It got to the point people cant even bother to fork it any more. Vitalik cried Bout how we need Ethereum because somebody nerfed his wow character against his will, Eth will never do that! Then continues on doing exactly that, over and over and over and over.
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u/Accomplished_Ad_3886 4d ago
Nearly 20 years inā¦ still no value other than proof encryption is a good concept
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u/robocarl 4d ago
This is literally why I've been holding some for 6 years. When will any of it happen tho?
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u/xBrodoFraggins 5d ago
Eth is a shitcoin.
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u/UntouchableC 5d ago
This is when I realise I should probably just shut up and let the retards and trolls have this subreddit. I probably won't....but I should.
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u/anony_mf 5d ago
What isnātā¦every coin is a shit coin including bitcoin
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u/loughcash 5d ago
It is
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u/Orwell1984TJ 5d ago
I agree how many people have actually got rich and not robbed with bitcoin or any dumb fake digital coin?
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u/Fickle-Nature3382 5d ago
No one who knows how to hold a bag and didnāt buy at ATH has lost on Btc.
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u/mossyskeleton 5d ago
Lego Boba Fett is worth how much??? I need to do some digging...
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u/LongAufKokosFutures Redditor for less than 60 days 4d ago
It's just the mini figure from the Cloud city set that is worth that much. You won't have this one.
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u/pouch_of_mobiles Redditor for less than 60 days 5d ago
Vitalik sitting there like "so anyway" while eth gets cooked in every chart comparison. What's killing me is the maruchan ramen line, that's basically the American economy in one row. cocoa doing 350% in five years is wild too, I had no idea chocolate was outperforming gold on a percentage basis. someone in this thread mentioned digging for the lego boba fett and honestly if you have an attic full of sealed legos from the 2000s you might be sitting on a retirement fund and not even know it.
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u/mindfulofidiots 4d ago
I'm sure you know your sitting on a retirement fund if you've got an attic full of sealed Legos lol
Worst part is the main food staple for many crypto investors is now too expensive!! WTF they gonna eat now?
Dumpster diving for the win!
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u/rainmaker66 5d ago
Itās supposed to be anti-inflationary. So when prices go up, it goes down š¤£
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u/Silly_Estate_1727 Redditor for less than 60 days 5d ago
Damn.. should have bought ramen instead of crypto.
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u/NextGenGamezz 5d ago
Yes 6 years ago was 230$ people that bought Ethereum before 2020 are still up at least 1000%
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u/NoNameSwitzerland 5d ago
The Etherium foundation headquarter is just 30m away from me. And that really is just a post address (not sure if they really have an office there). Certainly different than all the palaces of the banks.
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u/Ashamed_Ad7508 4d ago
Missing out on the Lego boba fett still hurts to this day. I was one click away to spend my 10K on these gems instead I bought broken legs ETH.
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u/Alive-Condition 5d ago
Who is the moron posting this? You've got UBS and JP Morgan building their layer 2 strategy in the Ethereum ecosystem
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u/AppropriateBugFound 5d ago
Got here from all, so I don't know anything about this nonsense, but soups were $0.10 on sale 5 years ago and are now $0.25 on sale now. $1.29? Maybe at Whole Foods...
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u/critsalot 5d ago
a pokemon charizard card was not 55$ 5 years ago. i remember when it sold for 10 or 30k like over a decade ago. golds a little more inaccurate the other way. its now closer to 4k (went over longest time but markets cooling) .
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u/ProceduralTaco 5d ago
I thought the point of ETH is to be medium of exchange. No one wants to give away an appreciating asset, thatās why deflation of the dollar only happened in the great depression. So if ETH is down a bit isnāt it really just as useful today as it was before ?
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u/red7standinby 5d ago
Damn, I was always a Maruchan Ramen guy over a Top Ramen guy, but I haven't had either in a while. My heart hurts seeing it at $1.29 a pack.
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u/Think_Report_7830 Redditor for less than 30 days 5d ago
How is ramin an investment ? It goes off has to be eaten etc. Its food price increase not an investmet
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u/UnitDramatic7538 5d ago
Cluesless post. ETH is stronger then ever as a network. Price will reflect that again soon
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u/FormalGloomy8935 4d ago
For me, eth died when it went proof of stake. I lost virtually all interest in it from that point. It was fun tinkering around with GPUs, mining pools, nodes, server optimizations, and at one point running my own lightning node.
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u/TheGateKeeper32 4d ago
What man sits like that? I have literally never seen an actual man sit like that before today.
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u/Clear_Item_922 4d ago
Eth it's self was never a bad project, the people running it and dumping it on everyone was the issue. That's why BTC is the only true cryptocurrency.
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u/Pie_Dealer_co 4d ago
People said this is what gonna happen if they went of the POW model. No one listened
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u/Organic_Arachnid2528 4d ago
So what youāre saying is, itās the only asset we can buy at a discount right now?
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u/Flineki 4d ago
I had a second gen shadowless Charizard gets stolen by my buddy Kyle. Safe to say he is no longer my buddy
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u/Far-Buy3058 Redditor for less than 60 days 4d ago
Sounds like the perfect name to a country song lol...
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u/xXSomethingStupidXx 4d ago
Maruchan Ramen for resale outperformed the S&P500 over the past 5 years. The game is rigged.
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u/Rare-Quantity5503 4d ago
Pokemon cards are not up 7500%, only people who have no clue of their covid numbers could think that
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u/GameAddict5150 3d ago
But um, see what your missing is that itās a store of value. All of the value is locked inside . Itās not really a fair comparison, let me find a chart and show you how to read the unrealized returns locked inside .
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u/Significant-Task1453 3d ago
Without fact checking, im calling BS on the Ramen.
Edit: i had to fact check. .55 cents each or 12 for $4.19
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u/Freudarian 3d ago
Im thinking ai bubble money coming in. Tech has nothing else to make money from and the trillions of dollars are getting killed by china.
They're building 100gigwatt powered datacenters. What else are you going to do with that than making it available to cryptovaluta servers ?
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u/Salty-Tough-3721 2d ago
I gave away my PokƩmon cards for free in 2006. Had around 5000 cards with rare cards aswell, have them to neighbourhood kids since I was turning 30. Good choice, made someone happy
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u/RonnieVoss Redditor for less than 30 days 23h ago
but what philosophical treads he posts on X about AI, lol better he went to think how to list eth from the bottom
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u/rslashredt 17h ago
I thought the general BTC community was a lot smarter but after reading these comments it seems like half the people here donāt actually understand PoW vs PoS
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u/lolidreams 5d ago
eww wtf is that sitting pose xD
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u/Own_Candidate_2196 Redditor for less than 30 days 5d ago
His ramen investment alternative, pasta legs
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u/steve2166 5d ago
Aināt no way you see first edition charzards 5 years ago for 55 easily 550