The triple halvening. THE PERFECT STORM. A refresher:
cryptocoin.news/news/the-triple-halvening-cou...
cryptocoin.newsPosted Aug 2, 2022, 1:26 PM UTC
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cryptocoin.newsFam, this is NOT priced in.
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That moment when all the dumb money has been tricked for years by FUD on r/CryptoCurrency and other such places and are about to be caught out in the rain and then FOMO in like never before.
Muh Premine, muh gas fees, muh eth foundation are scammers
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I'm not your fam, cuz
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Bagholders are all cousins.
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I’m not your cuz, bud
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But actually it "should" be priced in, right? Since it's news that are out already. Why do you think this is not the case?
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The news isn't priced in because it's not a given that it will succeed. It will be shock and awe and disbelief when it is hopefully successful and the absolute bonkers amount of cash on the sidelines will price it in over the next 12 months.
My opinion.
This is such an enormous, impossible and unbelievable upgrade to the institutional and maxi money. They are watching.
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Yeah if we are just talking investor money, I’m curious to see if the price tanks if the upgrade fails or what will happen if it succeeds.
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Same. I'm very interested.
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The point is it’s not a new or a simple update. it’s going to change the market structure forever. People don’t understand that yet cause nobody except few people in crypto from 2010 witnessed this. They are biased cause everyone feel BTC controls the market but not for long , fundamentals already showed signs of ETH strength last year
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tldr; The ETH balance held by exchanges has fallen to a four-year low in anticipation of the planned switch to a pure Proof-of-Stake blockchain. 550,000 ETH has been withdrawn from exchanges since the beginning of this year, signaling that HODLers are confident enough that the price of Ether will rally. This brings the ETH balance on crypto exchanges down to a level not seen since June 2018.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Not certain the CEX eth balance is the indicator it once was, just because so much more activity happens on chain now than in 2018. One of the reasons for using eth is that one doesn't have to use a CEX to sell eth!
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There's a u/Superphiz quote in the article!
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Cant wait!!! I really wonder what is gonna happen with the Eth price in these markets. Up but to what extend?? Next week test merge Goerli then its countdown to the big event!
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Wish I wasn’t so broke atm
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Still no withdrawals in the Beaconchain after the merge. So as u/Perleflamme said, the issuance will be zero and that's if the chain is not going to be used (it always is) so the burn will put it on negative. We have the Lindy effect - this ain't going anywhere. Network effect will kick in leading to more transactions - that burn will just burn brighter. All the while, Ethereum push forward on the Utility side expanding to more areas and industries as time goes on.
TLDR; No.... we all cannot have enough ETH. https://www.youtube.com/watch?v=DQ5VfKSYvSk #jackedtothetits
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This link is from 16 March... Nobody checked this -))?
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That's another thing. A lot if these are known for quite sometime but watch when it all goes bullish and goes for a huge run. There will be those fuckwits that will say that the barrier of entry to become a validator is too high. All just because they were too scared during a bear market or ignored the knowns. The same thing happened just before the Beaconchain launched in Dec 2020. ETH at the lowest point on the bear market before that was a crummy 88 USD. So jacked to the tits on what's coming. https://www.youtube.com/watch?v=DQ5VfKSYvSk
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Wen fuck you money !? Waiting for over 5 years now. Good thing i´m a patient man.
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It's so much more than just a triple halvening. Because unlike the bitcoin halvings that were already the code, with Ethereum it's proof that the devs have succeeded in executing a massively complex network upgrade. It's an attestation of excellence. It's proof that blockchains can undergo massive upgrades without ever going down. And Ethereum was the first to do it. It's a massive trust boost in its future. It makes the blocksize issue discussions that Bitcoin dealt with look like child's play.
This is true for long term and fundamentals, which is extremely important.
As for short term, for 6 months to a year (or maybe a bit more, at least until unstaking is available), it's not a triple halvening, it's a zeroing. Zero issuance perceived by the market. Nothing comes out. It's literally taking all the sell pressure of miners and getting rid of it. Entirely.
And on top of that, you have the burn, which will be as high as the hype will increase gas price. The market will perceive a shift from a high inflation to a small deflation, which is perceived as an abrupt and strong deflation, even more so in a context of high fiat monetary inflation.
People aren't ready for this. That's what I think Vitalik was pointing out.
There are priority fees which are available for validator, immediately after the merge .... If it will happen. Anyway, Christmas in September, I hope.
Priority fees aren't issuance, though. They're what miners already receive on top of issuance and are what users marginally pay to them. It's nearly negligible compared to PoW issuance.
Even more so, it is more than probable that validators will receive less and less of a priority fee over time until it reaches an equilibrium, because that fee is to be compared with the reward consensus actors receive for their work.
That fee is supposed to be no more than an incentive to ensure consensus actors add new blocks that are as full as possible.
That’s redirected existing eth
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I can feel it in the air
And a death sentence if the merge gets fucked up somehow. Stakes are HIGH!
Agreed. This is what makes me want to be all out for the merge.
bravo, honestly
Have we experienced the same past 6 years