Doge’s Co-Creator Roughly Thoughts on How Various Groups in the Crypto Community Might React to the Ethereum Merge Event
Computer engineer Billy Marcus, who created the original meme coin, DOGE, as a parody of Bitcoin in 2013, along with Jackson Palmer, took to Twitter to comment on the upcoming Ethereum Merge event. He roughly suggested possible reactions to this by various groups within the crypto community and non-crypto holders.
“Ethereum Merge Options”
Markus tweeted that Bitcoin maxis are likely to just blame Ethereum for being centralized and giving it other flaws, while they will still claim that “Bitcoin is literally god.”
Average Ethereum holders will be watching the price, Markus tweeted, and will be happy if it goes up, unhappy if it starts going down.
People familiar with the Ethereum merger will see it as a bunch of compromises, Markus expects, while the “standards” won’t understand the merger at all.
Ethereum merges opinions:
– bitcoin maxis: merge bad cuz ETH bad cuz centralize or whatever and bitcoin is literally god
– average ethereum holder: bad fusion if the number decreases, good if the number increases
– people who understand a little: it’s a lot of compromises
– standards: wat
—Shibetoshi Nakamoto (@BillyM2k) August 29, 2022
In the comment thread, a discussion erupted about the impact of this Ethereum upgrade on the environment and whether Bitcoin maxes can exist separately from ETH maxes – a sarcastic discussion, in the spirit of the tweet itself. same. Dogecoin fans also chimed in to remind everyone that DOGE is God, not Bitcoin, to them.
Vitalik Buterin offers a refresher on the hard fork
Earlier today, Ethereum co-founder and leader Vitalik Buterin posted a tweet to remind the community of not only the merger that is slated to take place on September 15th, but also the Bellatrix fork on the Beacon chain that will happen. produce a week. later – September 6.
Buterin tweeted that by then all miners should upgrade their ETH clients. The hard fork will take place at epoch 144896 at 11:34:47 UTC on September 6.
As reported by U.Today earlier, on that day (as well as September 15), the Binance exchange will suspend deposits and withdrawals of Ethereum and ERC-20 tokens.
If the scenario with a new token and chain appearing plays out, the ETH ticker will be assigned to the PoS coin, and Binance will award the new token to holders on a 1:1 basis.
Ethereum moves to proof-of-stake
With the merger finally taking place next month, the second-largest blockchain will finally transition to the proof-of-stake consensus protocol, leaving behind proof-of-work. This move to Ethereum 2.0 has been long awaited by the ETH community, as it is expected that the merger will finally make Ethereum more environmentally friendly and rarer, as far fewer Ethers will be minted from this point on. .
Many in the ETH community expected the move to PoS to be a pivotal point for Ethereum, pushing its price up significantly.
The testnet for Ethereum 2.0 was launched on December 1, 2021, when users began staking their Ethereum in the deposit contract. To date, 10% of all Ethereum supply has been deposited, which is valued at $35 billion.
Among the great figures of the financial world, Ethereum Merge is supported by billionaire and investor Mark Cuban, owner of the Dallas Mavericks, a team of the National Basketball Association.