Onchain Analysis: Why the Ethereum Merge is a Monumental Blunder

Ok folks, I finally did it. I ripped my case for why I believe the Ethereum Merge is a horrible misstep.

For associated material, please see my ongoing thread where I attempt to document the key problems.

In one move, the US Government has demonstrated that they OWN #Ethereum DeFi.

Folks, us all a favour, ditch the move to Proof-of-Stake so you don't hand consensus to them as well.

That way, you will live to fight many more days

Unless a regulated chain is what you want fro NGU https://t.co/bK4LEZUO1h

— _Checkɱate 🔑⚡🦬🌋 (@_Checkmatey_) August 12, 2022

Please let me know your comments, more than happy to hear from both sides.

PS. additional thready by Eric Wall covering the same topic

There is a valid argument to be made that the ultimate test of Ethereum PoS will come down to the simple question if the market will price the OFAC-fork higher than the permissionless fork

…especially if most stables/asset-backed tokens can only be redeemed on the OFAC-fork

— Eric Wall (@ercwl) August 13, 2022