I’m reading this analysis on CoinTelegraph https://cointelegraph.com/news/a-london-tour-guide-what-the-eip-1559-hard-fork-promises-for-ethereum
At this point, I’m not sure what to think. I learn that Vitalik is manipulating the Ethereum network, I learn that there has been a premine that is worth billions right now, I learn that Proof of Stake is just another way for money to make more money, and I look at the gas fees that have dropped but are still too high.
Honestly Ethereum has lost a lot of its appeal for me. Don’t get me wrong, I’m a bitcoiner, but I do understand the use-case for smart digital money and smart contracts. I like the various applications, I like putting up my art for sale as an NFT, I even like DeFi even though I prefer CeFi for now (My experience with Aave was simply a disappointment and a waste of money due to gas fees).
I’m starting to see how Ethereum is just another way for some people to get rich. It might not have started out that way, it might have been honest and idealistic in the early days, but it seems that the potential for immense amounts of money has distorted the network. I converted my remaining Ethereum to bitcoin during the dip. I have some small amounts in wallets etc but it’s impossible to move them, the gas fees are too high so they’ll just stay there. I haven’t had much success with selling my NFTs, which need me to pay ethereum to accept a bid ffs, that is why I was holding onto some ETH.
In short, Ethereum used to be my second choice, now I’ve dropped it.