Ethereum Is Going To The Moon

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2020-06-30 18:09:00

You have to use phrases like “Ethereum Is Going To The Moon” because we are after all talking about cryptocurrency, the bad boy of the financial world.

I’ve never been a fan of Ethereum because it is a “bag ‘o nails” as far as I can see. Ethereum is a wonderful mess and when you think about it, how could it be otherwise? Ethereum is a global decentralized computer powered by its own currency. It’s an idea and software project so cool, I get frostbite every time I think about it.

In my dinosaur brain, Bitcoin is Microsoft and Ethereum is Apple or if you want to use a metaphor where everyone lost, Bitcoin is the Atari ST and Ethereum is the Amiga.

I like POW (proof of work) crypto currencies where the system is ruled on the basis of how much computing power you can apply to maintaining the system. I’ve steered clear of Ethereum because it is heading towards POS (proof of stake,) a system where oligarch-sized owners of the coin get to call the shots and likely do what oligarchs do best, poop on the little people and fight to the death amongst themselves. Crypto is politics in software form, so to me the political framework of cryptocurrencies is all important. The POS future for Ethereum is a killer for me long term, but right now it is not that “in the long term we are all dead” that is the key, it is that visibility of the long term itself is all but dead.

The “ultimate depression,” is on the way and I’m coining that phrase here and now. As such we can look no further than the midterm. In the midterm Ethereum is looking incredibly exciting. I’m buying.

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