I’m not worried about Bitcoin scalability, but I am losing sleep over Ethereum
Tuur Demeester

Hi Tuur, Thanks for this initiative. Your thoughts have guided me before. I came to a few different (intermediairy) conclusions though.

The most important one has been “loyalty to Bitcoin and opposition to other networks”. The way I look at it is that they are all blockchains. With each blockchain it is open to see what basics are applied. Basically they obay the rule of Satoshi: payments should be peer to peer without going through a financial institution (through hash-based proof-of-work). Satoshi added one (non-tech) thing to his goal: “avoid the need of trust” (while paying ed.).

Although Premine or Proof of Stake undermine fairness they do not undermine trust (while paying). Proof of Stake does undermine trust in future behaviour, but even Proof of Work got close (BU). The willingness to accept any token as payment is subject to open market principles and so is the current price of ETH. This open market is only remotely sensible to the manipulative behaviour of coredevs as you can see with ETH, DASK, Gulden and the likes. If the richest man on earth is somewhere behind ETH its price could be just a convulsion of the old world and not a proof of future technological superiority.

Then why bother about the price of ETH? Even if ETH ever reaches the marketcap of BTC that has (just about) nothing to do with technics. If the majority decides to neglect your worries it doesn’t mean they are right. Thats short term. We have been neglected before but stay firm in our belief. Well, I do.

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