/biz/ - Business & Finance

>>50866580
fud. all eth belong to jp morgan goy

>>50866580
Hex-tier ponzi tactics.

thanks for reminding how decentralized PoS is

This is long known
So sell the news
But i buy your 32 stacked for 20 normal ones if you want

>>50866580
stETH has never traded at a decent enough discount to make it worthwhile. I don't know why the market has priced it so closely to ETH.

>>50866613
*no

>>50866580
Old news

>>50866580
>We wont be able to withdraw our staked ETH until 6 - 12 months after the merge!
Given ETH2 took about 5 years longer than planned, do you really think they'll build the withdrawal functionality on time??

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>50866580
>muh staking
>10% yearly reward in a coin that goes from 4800 to 900 in matter of months and then 2x in 1 month
you people are simply braindead

>do not redeem sirs

>>50866580
>withdrawal not yet implemented
literally how in the FUCK are you allowed to release something that has no withdrawal mechanism? Like what the actual fuck KEK

A furrier will exchange your sable for sable2.
Your sable is at a Chinese laundry and all you’ve got is a laundry ticket.
Somehow, you’re complaining that the furrier won’t give you sable2 for your laundry ticket.

>>50866580
>We wont be able to withdraw our staked ETH until 6 - 12 months after the merge!
HODL mode activated kek

Fuck me can you ethlets just stop the mental gymnastics for 2 seconds and just buy eth and get rich?

Every single fud attempt is straight dogshit, its absolutely pathetic reading

>>50866621
why does it trade at a discount?

>>50866580
Wait till you find out that all your coin's staked sit in one giant hidden wallet and that they can be borrowed or 'reserved' for collateral to banks/hedge funds

>>50866909
Bro I got 50 ETH staked and I missed out on selling at 4K. This pisses me off of true.

>>50866580
what about the stETH and rETH, those folks should do the needful and DUMPA

>>50867011
Source? I wont that you until you show me proof

>>50866580
They always said staking early was a one way street anon, it could have been that all those coins were stuck forever.

>>50867843
>we'll just fork again to bail these niggers out
dEcEnTrAlIzEd (gommunizm)

>>50866580
What happens to all the staked eth when there is a permanent PoW fork before the merge, and it remains as the main chain?

>>50868165
monkeyskeleton will do communism again like with the dao

>>50866987
Cause you can access your coins only after JP Morgan, ETH foundation, Consensys and Vitalik sold the top

>>50868165
It doesn't matter because a PoW fork will never have any success. PoS is the future. And besides that, most DeFi apps on any fork chains will be completely broken after the merge because Chainlink will only support the main Ethereum chain after the merge.

https://docs.chain.link/docs/ethereum-proof-of-stake-merge/

"Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol."

>>50866580
You don't have 32 ETH to stake so this doesn't have any impact on you. If you did, then you'd already have known this because it was transparent for years that withdraws are locked.

>>50866718
I got off /biz/ around the end of 2020 and since have actually broken 6 figure hell. Coming back now and then makes me realize I've still got more $$$ to make when people unironically make posts like these.

>>50868165
This post too. All of the large exchanges and stable issuers have released statements that they would support PoS over PoW. The value of everything PoW goes directly the 0 the moment it's made, but retards like you will pump ETHPoW thinking they're being clever just like they did with ETC. The result will be everyone currently holding ETH gets a nice airdrop with liquidity provided by retards like you. Sure holding 50 ETH will probably only give 1 ETH worth of airdrop after everyone sells it to hell but it will still be free money lmao.

>>50870178
Hey retard. What happens if you a dozen eggs in one basket but decide to split them into two baskets? What happens to the original basket's dozen? 12 eggs don't magically turn into 24. It gets reduced because it's split, divided amongst two fucking entities.

Really market does separate the suckers from their cash. Please continue playing the market, for my portfolio's sake.

>>50866613
this, slurping cheap staked eth is basically the easiest money you can make

>>50867731
Its probably just his intuition, he is probably also right, clown world

>>50866580
I'm not a /biz/ regular. Let me see if I've got this straight.
Ethereum (or rather Ether) is a decentralised cryptocurrency designed to ensure one maintains control over their money without being beholden to banks, big companies, governments, etc...
...but it can be remotely updated at any time by a central team of programmers who have full control over what you can and cannot do with your money.
Right now they've decided that you're allowed to lock your money away, and they pinkie-promise that they'll allow you to take it back in the future, after they push out a software update whenever they get around to writing it.

Do I have the right idea?

>>50872006
>...but it can be remotely updated at any time by a central team of programmers who have full control over what you can and cannot do with your money
no

>>50872023
OK. So what's the deal with "the merge" then?
It seems like, right now, you can mine ETH like you can mine BTC.
But in late September, there'll be an update after which you can no longer do so. You'll need to "stake" existing ETH instead. And they haven't coded the part that allows you to "unstake" that money yet, so if you want to do that you'll have to twiddle your thumbs until another update comes through.
And there'll be limits to how fast you're allowed to withdraw, just like a bank limits your daily transactions.

Further, it looks like these updates are prepared by a group known as the "core devs", and then everyone just kind of agrees to install said updates because the whole thing only works if everyone is on the same page and running the same software.

>>50866580
well ETH is centralized. and premined. did no one tell you vitaliki premined 70pct of supply? what did you expect?

wasn't this already known ages ago? If you wanted to sell your merge pump then you shouldn't have staked your eth ytou dumb retards.

>>50872102
What's the benefit of staking your eth?

>>50872555
I'm not well-placed to answer you anon, sorry- I was asking for help too.
But I /think/ the idea is this:
By staking a substantial amount, you're allowed to help verify transactions and receive fees/"rewards" for doing so.
You're trusted to do this because, if you were to conspire to "verify" fraudulent transactions and this was later detected by other nodes, you would lose your stake ($60k+).