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Crypto Research

Why Ethereum reputation is in question

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Ethereum has been the second place since its introduction in 2014. However, the recent FTX collapses made Ethereum’s reputation in question. 

Why Vitalik Buterin reputation in question?

ChatGPT stated that:

Vitalik Buterin is a well-known figure in the cryptocurrency and blockchain space. He is the co-founder of Ethereum, one of the largest and most successful blockchain networks in existence. He is also a prominent thinker and researcher in the field, known for his contributions to the development of smart contracts and decentralized applications. He has a positive reputation in the community for his contributions to the development of blockchain technology and his efforts to promote the use of blockchain for social good.

He sent the positive vibe to help Ethereum to focus on social good rather than profit.

Similarly, SBF who was the CEO of the FTX also provided social good through different ways and pretended he was philanthropy to scam investors’ funds.

Now, FTX collapsed and SBF was accused of fraud.

How can Vitalik Buterin be trusted?

Vitalik was supported SBF during the collapsing of the FTX and he sold massive assets during the collapse of the FTX was in question.

Since Ethereum 2.0 was locked, many investors could not sell their stakes during the market crash.

Many people predict that one Ethereum 2.0 was able to withdraw, people would take profits and it would bring down Ethereum a lot.

We should see what will happen after the Shanghai update.

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Crypto Research

Why Ethereum killers are killing themselves

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Ethereum killers are killing themselves!

ChatGPT described the Ethereum killer as:

Ethereum killers refer to other blockchain projects that aim to surpass Ethereum in terms of features and adoption. While there have been many projects that have attempted to do so, Ethereum remains one of the most widely used and well-established blockchain platforms. Additionally, Ethereum is continuously evolving and implementing new upgrades to its network, making it difficult for other projects to truly “kill” it. However, it is important to note that the crypto and blockchain space is highly competitive and constantly evolving, so it’s possible for new projects to gain traction and potentially challenge Ethereum’s dominance in the future.

But they missed several points.

When those killers market themselves are better choices, they forget the on-dock experience that allows developers to transit from one blockchain to another.

There is no way you can ask developers to abandon their existing projects and choose your blockchain with no reason simply it is faster, cheaper, and low fees.

Of course, multi-chain is one way to connect with other blockchains, but it still needs to have security without the chain to be hacked.

It is simply to risky to transfer from one chain to another.

Another factor is scalability.

It is too overrated. With the faster scalability, you are likely to die fast too.

There is no way to build a community with speed and hope people will stay there to root for you.

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Crypto Research

Bitcoin is not efficient

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Bitcoin is not efficient as we thought before.

ChatGPT said that

Bitcoin is considered to be efficient in terms of its ability to facilitate fast and secure transactions without the need for intermediaries. Transactions on the Bitcoin network are verified by a decentralized network of users called “miners,” which eliminates the need for banks or other financial institutions to act as intermediaries. Additionally, the use of blockchain technology, which is the underlying technology of Bitcoin, ensures that transactions are recorded immutably and transparently.

The problem is when Bitcoin becomes hype, and miners increase their energy usage to mine out of Bitcoin, potentially diminishing the return of input energy.

That is likely to make the Bitcoin price plateau and no longer can function as it intends to be.

It is unlikely that when supply is limited, the value of Bitcoin will go infinity. Instead, Bitcoin price will plateau until the mining exhausts out, and transaction fees will increase until people can no longer afford it.

Bitcoin is not a money instrument but to measure opportunities.

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Crypto Research

Crypto whales are secretly dumping

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The bullish trend is up and continuing? No so fast!

ChatGPT defined crypto whale is:

A crypto whale is a term used to describe a person or entity that holds a large amount of cryptocurrency. These individuals or entities can have a significant impact on the market due to their ability to buy or sell large amounts of coins at once. They are also known to have the ability to manipulate the market in their favor.

The market sentiment is too optimistic about the bullish trend, indicating that investors are trying to recover 2022 losses as much as possible before it is too late.

Since institutional investors are hoarding more cashes to prepare the worst, crypto seems work at the best. 

However, whales are more cautious and unlikely to enter large positions until the economic indicators are clear.

The problem is that the market needs to include a critical point that the Fed still needs to do their increasing of the interest rate and dollar weakening is a short-term play.

The market will deteriorate faster than we expect to be. As a result, retail investors have to be very careful in managing their positions in crypto.

Whales are taking profits and patiently wait for another correction to come.

It will get worst before it gets better.

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