ETH

TheExpensiveGoogle

On ETH and EVM chains I don’t think any Dex is doing that but on Osmo, Injective, and many other smaller chains this is already a thing. The article even mentions Levena as one of those Dexes.

croissant_auxamandes

Validators like myself run hardware, and do work to earn ETH rewards. ETH holders have nothing to gain from me doing my own work, and me getting rewards for myself.

Synthetic451

Are you setting a custom gas limit in your wallet? Even now sending ETH takes $0.55, and that's just ETH. If I want to send something like rETH it's higher at $1.5

jps_

Such an argument was employed by W.J. Howey Co. in one of the defining cases of securities law - the genesis of the so-called "Howey Test". The court agreed that some purchases of Howey's fractional orange groves did not qualify as securities. Nevertheless, some *other* users were merely passive investors, who had a reasonable expectation of profit by the contribution of money through the efforts of others. And for these *other* users, there was an issuance of securities, and as a result W.J. Howey Co was found to have issued securities. You can probably appreciate that there are some people who are doing absolutely nothing to improve the Ethereum network, but who nevertheless own ETH. Some of these people did nothing but purchase ETH for the sole reason that they expect it to be worth more than they paid for it, some time in the future. They aren't writing smart contracts, they aren't paying for gas, they are just holding for the big payday that's about to come now that the Halving has passed, upon which they plan to sell some of their ETH and live the good life. The basis of this expectation rests on the efforts of you and people like you, who are (to them) "others", and who are building this value. To *these* people ETH might very well be a security. To you, it is a utility. What a lot of people misunderstand is that being a security is not a binary exclusive criteria like being a fish or an insect. it's a shared property like being a pet. Some fish are pets, but most fish are not pets, and it's possible (although perhaps a bit weird) to have an insect as a pet. Another misunderstanding is that a security can be issued without being able to point to an issuer. Just like a barn can burn down without being able to identify who lit it on fire. That doesn't mean it wasn't arson. It just means that the arson can't be pinned on the arsonist.

1one1one

It was like that this morning at around 6am for fast transactions. You've got to send your ETH when it's very quiet on the network. Then it's less congested and cheaper. It's 39 cents right now. https://etherscan.io/gastracker

majani

Personally I think a lot of early Bitcoin and ETH millionaires turned into genuinely degenerate shitcoin gamblers who just don't know when to quit

obsoletesatellite

Going to tornado all my ETH. fuck you fbi.

Dazzling_Income1052

where on the chart of ETH or BTC do you see the downtrend from the bottoms and tops. We haven't even topped yet mind you, ETH grew 60%+ from its last lows and it's already outperformed the last halving section. Literally just quit yapping for a few months. If you have more money put it in soon, dont be dumb money again.

shadowmage666

The on chain cost for ETH is NOT 33 cents lol

Synthetic451

>While the onchain cost is 33 cents. What? When has onchain ever been that low for ETH? I've only see $1.5 at the minimum, but mostly its around $3 or $5. When I withdraw from CEX, they're largely in-line with what I see for on-chain transaction fees. I just transferred some of my ETH out of Gemini for $1.5 two days ago.

Substantial_Bear5153

No, they move the deposited balance from "your" wallet into a central hot or or cold wallet. Once the deposit is credited to your account, you don't really care about that, but they do have to move it and pay the network fee. E.g. on Ethereum, what you'll usually see is that your deposit address is funded with a couple bucks worth of ETH.

TAGSProductions

Pokeee is sitting on $7mil with of Aave wrapped ETH https://etherscan.io/address/0xf91dc62ecb1d2cfc6ee72e1e7a27288c20bb5486 Did he get rich off the rug pull or was he already rich and rug pulling was another way for him to get more money?!

CryptoNerdSmacker

The sooner this space moves away from ETH and all of its copycats the better.

CryptoNerdSmacker

It’s basically ETH’s rise all over again lmao. Inundating the space with shitcoins and scams. Such great value added!

Kxllskum

Depending on what coins they take fees are ALOT cheaper , right now sending $100 of ETH would be a fee of .72¢ and sending $100 of BTC would be a fee of 25.20$

Tlux0

It’s not frozen. It’s a community transition because people don’t want to be hacked or whatever. And the coin with the best mechanism wins out and becomes the real Bitcoin. This has happened multiple times to BTC. This has also happened to ETH. Assuming something will just up and die because it has flaws is the most irresponsible way to analyze something and demonstrates you simply don’t have food control over your own biases.

s12j

I still don't quite understand. My plan is to convert my crypto holdings into real estate. I live in a country in which you only tax crypto when you "cash out", i.e. convert it into fiat. Say I find someone who is willing to sell me a house for BTC/ETH, or something like USDT. I pay them with crypto directly, gain ownership of the house, but then I guess I need to tax *something*, right? Like the price of the house.

jeetsstizzard

Hey, there! I can understand your concern regarding the SEC situation with Ethereum and how bothering it is. With a huge portion of your portfolio in ETH, it is natural to consider moving into Bitcoin as a safer option. But, I don’t think it is good to convert your entire ETH stack into BTC. Over the years, Ethereum has been a major player in decentralized apps and DeFi protocols. Despite the regulatory uncertainty, the ETH space has become too important to the broader crypto market to simply disappear. While there could be short-term volatility, Ethereum's real-world utility and widespread adoption will likely ensure its long-term survival. With this, holding some Bitcoin as a hedge against market uncertainty is a smart move. Perhaps exchanging 25-30% of your ETH holdings for BTC could help diversify your portfolio risks. But, be careful against going all-in on either asset. A balanced approach, potentially getting some exposure to promising low-cap altcoins with higher risk/reward profiles, which is a wise way in the volatile market. Also, try to explore the Traders Union website. They have a reliable community of crypto experts who analyze market movements and share valuable insights daily. Their researchers closely monitor major news and events that could impact crypto prices, providing helpful insights, especially during periods of uncertainty.

Sparta89

An exchange will need to transfer the money you deposit from the deposit address they create for you to the cold storage for the exchange. Most users don't think about this, but it is a transfer and the exchange needs to pay for it. It is one reason for the fees. If you deposit a ETH token, the exchange will need to transfer ETH to the deposit address, then transfer the token to cold storage, so there are two additional transfers the exchange needs to pay for.

you_cant_see_me2050

It's possible they were trying to trigger specific trading bots on the exchange. By manipulating the order book with those trades, they could potentially influence the price of ETH and make a quick profit. Definitely worth reporting this to Kraken support.

you_cant_see_me2050

Honestly, nobody knows for sure how this SEC stuff pans out. If you're sweating it hard, maybe swap out some ETH for BTC just for peace of mind. Before you panic-swap, do your research. What are the actual risks to ETH. Don't just follow the FUD.

Reach_Beyond

I can’t even think of what half those coins you listed are. At least be realistic the ETF would be 50% BTC, 30% ETH, 5% BNB/SOL/XRP/ADA. No one is holding an ETF with your shit bags so heavily weighted. 20% LTC when they are <1% market cap?

Big-Finding2976

You misunderstand. The stolen car is the dirty ETH in this analogy, not the NFT. The point is, if you receive something stolen/dirty, whether that be a car, cash, or ETH, it's liable to be seized regardless of whether you knew it was stolen/dirty.

pixieshit

My game is still up! [https://www.reddit.com/r/CryptoCurrency/s/j3Kf3Gj4Cc](https://www.reddit.com/r/CryptoCurrency/s/j3Kf3Gj4Cc) Find the seed words, unlock the wallets. * 8 wallets contain 0.025 Eth * Final wallet contains 1 ETH. Here is the current incarnation of the game: [gardenofturing.com](http://gardenofturing.com/) [gardenofturing.com/forestofgnirut](http://gardenofturing.com/forestofgnirut) 2 wallets had already been drained, 1.1ETH still to be won. Start the game from the beginning: [octolisk.com](http://octolisk.com/) Thanks for playing, and remember, we love you. :)

pixieshit

My game is still up! [https://www.reddit.com/r/CryptoCurrency/s/j3Kf3Gj4Cc](https://www.reddit.com/r/CryptoCurrency/s/j3Kf3Gj4Cc) Find the seed words, unlock the wallets. - 8 wallets contain 0.025 Eth - Final wallet contains 1 ETH. Here is the current incarnation of the game: [gardenofturing.com](http://gardenofturing.com) [gardenofturing.com/forestofgnirut](http://gardenofturing.com/forestofgnirut) 2 wallets had already been drained, 1.1ETH still to be won. Start the game from the beginning: [octolisk.com](http://octolisk.com) discord where everyone shares clues: [https://discord.gg/WkwrrKHc](https://discord.gg/WkwrrKHc)

Vegas_42

If it's about onramp, then buy something like ARB on Kraken and withdraw for [0.2 ARB](https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums). That's appr. $0.2 in fees. After that you can swap on a DEX to ETH. I'm confident it's much cheaper than the $9 you mentioned.

coachhunter2

This sub seems to be in denial about the growing likelihood the SEC files a claim that ETH is a security.

Cryptos4you

Frankly, ADA is the most advanced technology. While ETH uses its 'first-comer' status in the smart contract segment and popularity, I see, soon or later, ADA rising and capturing a significant portion of the smart-contract market share. Just examine their rock-solid development roadmap, and you will understand what it means to create something stable and safe for the future. Yes, they could focus on marketing a bit more, but you know what? ADA's team doesn't care about popularity—they focus on long-term functionalities that cover all possible use cases. This is the nature of scientists. I will hold my ADA and plan to sell it at some point when I retire.

PabloXBpl

ETH should be better option in that bull market, but the best will be to keep your funds half in BTC and half in ETH.

DDelphinus

Does he already have 2FA enabled for withdrawals as well? Otherwise I would enable that one as well. It might be what prevented them from withdrawing the ETH

cl3ft

Me too buddy. I spent all my $6 BTC I didn't buy it as an investment until the 2013 bullrun near peak at $750 each. Then it crashed hard for 3 years. I got into ETH in '16 though. That made me. I like to think of my 2011 Silk road purchases as contributing to Bitcoin's proof of concept. Without us Bitcoin might never have become "mainstream".

gianicr

I had a similiar case where scammers bought some NO ETHEREUM which showed up im the wallet as genuine ETH with the price but there was no ETH symbol as the icon. The icon just said ETH. The real money was withdrawn to a ledger.

omniumoptimus

This is an incorrect reading of the law. To sell securities, the seller must register as a seller of securities. A security, in this context, is the asset being sold. The ETH ICO may or may not be defined as a security, and I would certainly not rely on your opinion on the matter. The issue a judge would have to content with is that eth is used to power the Ethereum network, and being the first of its kind, you can’t go back and compare the sale of eth to any other thing like it, including Bitcoin, since eth value comes from users using Ethereum, and not from the enterprise building Ethereum (no common enterprise).

swagamoney

ETH on Arbitrum

neen209

Well, I lost $15 in ETH fees because I sent on ETH network & Arbitrum network to MetaMask Arbitrum Nova network lol…but I finally got my moons on CDC

neen209

NM I found it and added my moons to meta mask!! I’m proud of myself lol So now, if I wanna send to crypto.com, I just need some ETH for gas fees and I can send it straight over since they have arbitrum network ya?

Dazzling_Marzipan474

Maybe they planned on cashing out in ETH but the gas fees weren't worth it so they changed it all to USDT? 🤷

OMFGROFLMAO2

Just throwing a blind guess. Maybe those movements were done by you dad? I remember the first time I got into crypto I went wild swapping coins thinking it was feeless. And maybe what the hacker did was convert Euros to ETH and you intervened at that point.

StraightG0lden

Quite possibly, I was just pointing out they wouldn't be buying the ETH they're laundering with cash in this scenario. I haven't actually seen anyone charged for money laundering through NFTs but I'd assume it would be a matter of proving the seller was aware the ETH was dirty and not just someone paying an absurd price for it.

yellcat

Lest we not forget Solana, a place to trade meme coins cheaper than on ETH

geekfinity

So you cited a 6 year old article / quote to say that ETH is not a security. Is ETH a security or not a security right now?

John_Crypto_Rambo

https://www.sec.gov/news/speech/speech-hinman-061418 Hinman said many times ETH is not a security. >Even more important, however, is the so-called “Hinman speech” delivered in 2018 by Bill Hinman, then the director of corporation finance at the SEC, where he proposed that a digital asset’s classification under Howey could evolve over time. >According to Hinman’s logic — to the extent that Ethereum’s success no longer hinges on the efforts of a particular entity, like Vitalik or the Ethereum Foundation — the sale of ETH tokens would no longer fulfill the requirement of the final Howey prong that there be “particular others” upon whose efforts a buyer would rely for their profits.

Fornicatinzebra

But that's why I said to use a coin mixer. Essentially what you do is transfer your dirty ETH to one and receive a transaction key. Then at any point in the future from any wallet you can enter that key into the mixer and receive the amount. Sounds simple enough, but they do that with programming such that 4000 ETH is sent in a thousand 4 ETH transactions, then received at random times over a period like a year or so to unique wallets. Now you have let's say 400 wallets with like 35 ETH in each (gas, mixer fees, etc), that received their balance from a coin mixer address in multiple transactions throughout a year. You can't track those transactions any further. And you can set scripts up to make them do some random transactions to look like an average investor. Now you have 400 wallets which each received ETH transactions from a coin mixer over a year at unrelated time, and each lost some of it "gambling" Then you make 100 NFTs that cost what you have in 4 wallets each, and release them as a collection. You rig it so your 400 wallets get to buy first. Now you have a seemingly clean wallet with all of the originally dirty ETH minus fees etc. that received it by selling out an NFT collection. In your actually clean wallet you sell your inflated value NFT for much higher than others. It sits for awhile, but then is bought by the wallet that had the once dirty ETH. Now your personal wallet has 2000 ish ETH that was from selling an NFT to a wallet that just made a bunch of ETH selling NFTs to average looking "investors". Setup a script to do this and every time you hack a smart contract you get paid out in 1-2 years. The numbers are just for literary purposes, but hopefully what I'm trying to say makes sense.

Dark_Raiden_

Get your eyes off that ETH chart and breathe some outside air. We've all been there man.

albertowang

BTC has been outperforming ETH this cycle and it's normal because of the ETF launch for the former. But do also bear in mind current world situation we're in right now with so much uncertainty on the economy, the war in both gaza and UK/RU, cash will flow to lower risks assets, which in cryptoworld is BTC. ETH/BTC will flip back eventually but I don't see it happening unless economic signs are more clear towards the brighter side.

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > &#x200B; > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > &#x200B; > > &#x200B; > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > &#x200B; > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

das-jude

Straight ETH only? Or can you use ETH on Base?

Big-Finding2976

Dirty ETH, or BTC, doesn't stop being dirty just because it gets sent to another wallet. It's still traceable back to the hack or whatever made it dirty, and if you send it to a CEX to sell it for fiat it's liable to be seized, regardless of whether they can show that you knew it was dirty.

Low-Client-375

Not sure about HK but if wanted to buy American BTC ETF here in Canada I'd have to pay foreign investment tax. They may not have to do that now that it's available to them. Good thing Canada has had a tax sheltered BTC and ETH etf for years

paxwax2018

As long as you never try and cash out via BTC or ETH? Assuming it’s true that you can’t cash out directly from Tether?

MaximumStudent1839

Yes, they are one of the biggest backers of ETH “Web 3” projects, including that monkey jpeg company.

coinsRus-2021

I own my BTC on ETH

mindcandy

You can use existing autonomous smart contracts to exchange Bitcoin or ETH for Monero. You can transfer Monero privately. The recipient can exchange back to Bitcoin, then sell the Bitcoin for cash on many non-DeFi exchanges. Some exchanges even trade in Monero directly. If you can do that, why would you instead make international news that randos like us are discussing all over the world so that you can avoid prosecution for a single, huge, illegal transfer of money? That would make no sense at all. It's just a dumb theory Redditors toss around whenever they don't understand why rich people buy stupid shit. Hint: They do it because they can.

Inkamt

I suspect ETH ETF not going to get approved this around. Before BTC ETFs approval there were constant redrafts and resubmissions months leading up to it, currently I don’t hear anything for ETH.

StraightG0lden

The assumption in this case would be that it was ETH obtained in some questionable manner (hacks, scams, whatever) they're trying to launder. For example let's say someone does a lot of phishing and manages to get 12m from however many victims. They can't exactly cash that out on coinbase so they move it around a bunch and then buy their own NFT with it so they have a legitimate explanation for where the money came from.

Imperialtech69

ETH is garbage. It's time for someone to dethrone it

Level_Forger

But how do you get the cash to ETH to buy the NFT without a trail?

Imperialtech69

ETH is pretty useless anyways

BuyETHorDAI

I would say the SEC has always been deliberately vague in their public communications about ETH. The reason is pretty simple: The SEC as an institution is always seeking to extend its scope on what it regulates, so of course they have a very strong interest in classifying all cryptocurrencies as securities. Their worry is that by passing on ETH, it'll make it increasingly difficult to go after altcoins. I think they are wrong about this. There are plenty of altcoins that are absolutely centralized and should be treated as securities. That being said, they couldn't even classify Ripple as a security. So this just reeks of desperation from thre SEC imo.

PricklyyDick

Are those securities registered as securities? Is ETH also registered? Makes a huge difference

root88

Except that ETH doesn't pass the Howie test because it's decentralized (as has been admitted by the SEC already).

Pollishedkibles

they are only kicking the can down the road. they did the same thing with BTC so i would not be to worried. other countries are working on ETH etfs and the U.S is being left behind

AmbiguousBump

If the BTC/ETH pair stayed the same though, and only went up in dollar terms, you made 0 gains. Is this actually how it works?

satoshiwife

Bitcoin was priced in, ETH isn't. Approval will shock most of the market.

JBudz

Eth is under performing btc which means that when it eventually goes up in value, the returns will be greater than btc. Eth has been mentioned by the SEC not as a security. What you're likely hearing is btc maxi spam. Eth has many pending ETFs. Even if not approved in May, there is enough pressure on the SEC to fold and eventually approve the ETF. Historically, ETH out-performs btc. The smaller market cap gives it more room to move. The greater functionality gives it greater adoption. A significant portion of ETH is staked. Eip1559 is burning ETH reducing the supply. ETH is being locked up on Defi. ETFs are coming. Talk about a supply squeeze. ETH is likely to be the best investment of our lifetime. A golden ticket. Learn more about Ethereum at https://Ethereum.org or my personal collection of links https://jbudz.xyz https://ultrasound.money

Advanced_Frame542

Your previous portfolio ratio isn’t bad, especially with a solid base in ETH and BTC. Make sure to use two-factor authentication (2FA) everywhere for added security.

coachhunter2

Will the SEC + Consensys be the real ETH killer?

not_wadud92

The short story: Philip DeFranco and my desire to play games The long story: 2010 broke student, laptop broke, can't afford a new one, no PlayStation or Xbox at the time. Figured out the issue and needed to solder in a new charging port. Couldn't find the port anywhere, decided to use the power of Google. Found what I needed on eBay. One problem, I did not trust my bank details online, I had been on the internet long enough to not trust my details online. So I again used the power of Google to try to figure out another way. Ended up learning about BTC, and then about 5 seconds later I learnt about PayPal. It gave me that security layer I was looking for. Brought that port with paypal soldered it in didn't think about BTC again. A few years later, maybe 2012 Philip DeFranco mentions it hit some ATH, 4k maybe. Still didn't think twice about it. Still broke, still the same laptop. A few more years ago by and this time Philip DeFranco is talking about that one dude who lost his HDD and was trying to dig it out of a landfill. Still didn't think twice about it. A few more years go by and Philip DeFranco is talking about BTC ATH yet again, except this time there is also ETH about. And I'm starting to question if I should be giving a damn. The final straw was the AMD Vega 56. Managed to get one at RRP. It wasn't amazing, but then the value skyrocketed. Apparently was very good for ETH mining at the time. And thus, because of my gaming habits and Philip DeFranco keep banging on about it I decided Todo some proper research. Turns out I was wrong. PayPal wasn't what I was looking for way back when. It was BTC, or should I say it was what BTC wanted to be, that is what I wanted. So I put some money in a few projects that I genuinely think will be that solution one day. Sure I play about and gamble on some memecoins here and there. But most of what I have is for the purpose of I don't want my bank and the internet to interact. Anything that will get me there in interested in.

KoreanJesusFTW

> Cardano's Ouroboros is closer to LPoS (Liquid PoS) It is still just another variant of DPOS and the fact that Charles chose this to to be "liquid" leaves the whole chain with a "nothing at stake" issue. > Ethereum PoS was 6 years late in delivery and still has major flaws such as the public leader election which incentivizes validators to attack each other. Other significant flaws are super-minority centralisation risk and the inability of most holders to directly participate in consensus, leading to only 26% of ETH staked. You can call this "late", I call this "making sure". You can punch as many as you want but Ethereum's success over Cardano speaks for itself. > Either way I'm not wasting time on "point per point" Well it'd be stupid if you argue with things that are true. That's why you walk away and simply rage quit. Have a good day. You need it. Your heavy ADA bags ain't going nowhere. Say hi to Charles for me (or not). May his long game of rugging ADA holders crumble and be filled with trouble and jail time.

CointestMod

#Ethereum Con-Arguments Below is an argument written by Chysce which won 2nd place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **>> Scalability** > > Ethereum's greatest challenge is [scalability](https://education.district0x.io/general-topics/ethereum-scaling/introduction-to-ethereum-scaling/). This issue manifests in two ways - long transaction times and high fees. The large number of transactions on ethereum network can cause congestion resulting in delays and very high gas fees. Ethereum Merge event did not resolve this issue, it only paved the way for future optimizations of gas fees. > > **>> Ethereum is not so decentralized** > > Despite its decentralized nature, Ethereum has become increasingly centralized over time, with a small number of entities controlling a large portion of the network's resources and governance. For regular Ethereum user it is hard to run a node so they have to rely on [external node infrastructure providers](https://www.alchemy.com/overviews/blockchain-node-providers) who can censor whatever they want. > > **>> Vulnerable to attacks** > > Transition to proof of stake made Ethereum more [vulnerable to attacks](https://cointelegraph.com/news/ethereum-merge-makes-network-more-vulnerable-to-attack-security-expert). *"Unlike proof-of work systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks."* > > **>> Solidity barrier** > > Another issue with Ethereum is its programming language. Developers who are proficient in C, Python or Java cannot easily transition to Ethereum and create dApps. They must instead learn a completely different coding language (Solidity). This slows down the process of onboarding new developers and creating dApps. > > **>> Ethereum could be labeled a security** > > There are early [hints](https://www.theblock.co/post/220297/gensler-suggests-proof-of-stake-tokens-are-securities) that ETH might be labeled a security. If that happens any US citizen would have to hire a licensed broker to buy and sell ETH for them. This would significantly hinder its growth potential. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p793/top_coins_ethereum_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1ccdocu\/daily_crypto_discussion_april_25_2024_gmt0/).

CointestMod

#Ethereum Pro-Arguments Below is an argument written by excalilbug which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has been one of the top coins for more than 6 years now. And there are several reasons why it’s so popular: > > &#x200B; > > * **Reliability** > > Launched in 2016, Ethereum has been very reliable. Some networks (e.g. Solana) had more issues in single week than Ethereum in all its history. The only issues I can remember is of course the [famous hack](https://www.coindesk.com/tech/2020/09/17/the-55m-hack-that-almost-brought-ethereum-down/) (it was in the beginning of ETH) that led to the creation of ETH Classic and the network congestion in 2017 caused by… [internet cats](https://consensys.net/blog/news/the-inside-story-of-the-cryptokitties-congestion-crisis/). What else could it be, right? > > Other than that ETH remained very stable and trustworthy. It had no downtimes and new partners were joining the network which led to the next pro of Ethereum: > > &#x200B; > > * **Adoption** > > One of the biggest advantages of Ethereum is its widespread adoption. It had the first mover advantage and it used it pretty well. Today the [Ethereum Enterprise Alliance](https://entethalliance.org/eea-members/) includes dozens of members, among them such big names as JP Morgan, Ernst & Young or Microsoft > > Every regular visitor to r/cryptocurrency is also probably aware that Reddit chose Ethereum for their community points program. Currently Moons run on one of Ethereum layer 2 protocols called Arbitrum Nova > > Also worth mentioning is the fact that the [total value locked on Ethereum network is almost 60% of all chains](https://defillama.com/chains) and almost 6 times more than its biggest competitors, Tron and Binance chains (both “just” 10%) > > &#x200B; > > * **Advantages of PoW -> PoS transition** > > Transition from PoW to PoS of course has some disadvantages (the rich get richer) but it’s hard to deny that there are also some advantages. And probably the biggest one is the energy usage decrease. The [energy used by Ethereum is now almost 100% lower](https://blog.ethereum.org/2021/05/18/country-power-no-more) than when it was a PoW coin > > The other advantage of recent updates is the fact that ETH is now deflationary. After the implementation of EIP-1559 ETH now burns a fraction of the gas fees per transaction (so there are some positive sides to high fees too – more ETH is burned :P). [This year, in less than 3 months, more than 66,000 ETH was burned](https://finbold.com/ethereum-supply-drops-by-66000-eth-in-2023-making-it-deflationary/) > > And it’s not the end. Soon, on 12 April 2023, ETH will have another upgrade called Shanghai-Capella (Shapella). One of its improvements is [EVM Object Format](https://sensoriumxr.com/articles/375). It will separate code from data. It should make the network easier to use and it will reduce gas fees > > &#x200B; > > * **Layer 2 solutions** > > One of the biggest problems of Ethereum are high gas fees. But thanks to a very active community and smart develoeprs this problem is circumvented. Layer 2 protocols have very low fees while utilizing the benefits of Ethereum blockchain. They decrease data traffic by redirecting it offchain > > Those layer 2 solutions are so popular that Arbitrum has 4th largest total value locked in it and Polygon and optimism are 5th and 6th respectively! ([https://defillama.com/chains](https://defillama.com/chains)) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

R4ID

Time to delist ETH from every US exchange right? /s

Apprehensive_Sun7382

It means Vechain has been playing you for over 7 years now. How much does Walmart China do on VeChain? Less than $10 a day I bet. You also need to understand that was a startup incubator program as well and they are not partnered with them or anyone. They've been lying and deceiving naive investors for years going from buzzword to buzzword (supply chain, nft, rwa) and buying ridiculous sponsorships like the World Series of Poker and UFC with their huge ETH warchest from the ICO days.

ExcitementFederal563

I think they were just doing your dad a favor by converting all coins to ETH. Probably had already logged out by the time you changed password.

coinfeeds-bot

tldr; Consensys has filed a lawsuit against the SEC, claiming regulatory overreach and seeking a court ruling to declare Ethereum's Ether (ETH) not a security. The lawsuit, filed in a Texas federal court, aims to prevent an SEC lawsuit against Consensys related to MetaMask, a crypto wallet it supports. Consensys argues that the SEC's control over Ethereum would harm the network and its users, potentially halting its use in the U.S. The SEC has issued a Wells Notice to Consensys, indicating plans to sue over MetaMask's operations as an unlicensed broker-dealer. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Flintoli

"Interestingly, the seller had accepted a lower offer than previously made. On March 5, someone bid 4,440 ETH worth $16.38 million at the time before withdrawing it on April 22." Lol he wouldn't sell it to anyone other than the person who's money he was washing

Fornicatinzebra

What? It's for laundering stolen ETH. Team hacks a smart contract, steals $100 M in ETH but can't touch it. They send it to a mixer like tornado cash, and slowly end up with several wallets with reasonable amounts of dirty ETH of questionable origin. There's likely more steps here but I'm not a launderer. Then they put an NFT for sale for a ridiculous amount, let it sit, then use one of the dirty wallets to buy it. As the seller, you now have a clean source for the ETH in your wallet. As the buyer, you no longer have dirty ETH but have a worthless image. It's not for laundering drug money

Sharlach

You can trade ETH futures on Coinbase or Kraken. Time to put your money where your mouth is. Make sure to post screenshots.

coinsRus-2021

Now I’m gonna go buy some more ETH

neo_deals

I wouldn't be surprised if the gas fee was higher than ETH being transferred. lol

uncapchad

It's the whole Howey Test issue. They feel that any staking makes a thing an equity not a commodity. It's not a switch. GG has been adamant about this from the outset. It's just that in the meantime, ETH changed from POW to POS.

uncapchad

Offering ETH staking

reversenotation

Just like your old dr Will Kirby account, your own choices and decisions are somehow everyday to be blamed on strangers on Reddit who had nothing to do with your choice to buy ETH back in May 2021

AmongTheElect

They only approved BTC by one vote. I see no reason they'd approve ETH.

robomartin

Heard about Bitcoin probably in that big run up in 2013ish, but sat in the sidelines. I dismissed it because I listened to guys like Warren Buffett talk about non productive assets being bad investments. Heard a lot of the buzz again in 2017 but held to my beliefs that I can’t justify non-productive assets. Then a really close friend started talking to me about crypto. I think I learned about Bitcoin, Ethereum, Ripple, Monero, Dogecoin, and Litecoin that night. Still kind of dismissed the idea, but started following closer. I definitely did have the mindset that it was too late to buy Bitcoin, and altcoins are where it’s at though. Then I came across an ICO called C20, which later ended up being a scam (depending on your definition of a scam, but they weren’t doing what they said they were doing and it all blew up in 2022), but it was a tokenized index fund tracking the top 20 by market cap cryptocurrencies with a 10% cap and rebalanced weekly. This product alleviated that choice paralysis about what altcoins to buy, so I got in. I wasn’t really a believer, so I didn’t go nuts, and kind of good that I didn’t because I probably lost about 80% of my investment. Just held that until 2019 when I stumbled upon an article by David Hoffman (he’s a co host of a podcast called Bankless you may have come across), called “Ether is the Best Model for Money the World has Ever Seen”, and it just clicked and I knew I wanted at least 32 ETH. So I sold my C20 tokens and started accumulating ETH. Eventually I did have a Road to Damascus moment about Bitcoin (and gold as well). I think it’s fine to own non-productive assets. I have variably held substantial non-ETH altcoin positions as well. I still have substantial respect for Warren Buffett, and people who avoid Bitcoin, gold, and crypto as well. I just am in a slightly different mode of thought now.

One_Boot_5662

Cardano is very relevant, it's pretty much the only properly decentralised cryptocurrency at this point, but you wouldn't know because the media that are ETH bag holders tell you to just worry about fiat prices and get rekt on LUNA, Celsius etc.

Ill_Engineering_6937

That's because ETH is relevant. ADA isn't. That's not a "media blackout." That's because the news follows things people give a shit about.

purplecowz

This is cool. But since it's USDC, will this have any impact on SOL, MATIC, or ETH coins?

coachhunter2

SEC investigating Consensys. Looking very likely they are going to claim ETH is a security. That would be really bad for the whole market, though depends if exchanges decide/ are forced to delist.

BuffaloBrain884

The SEC ultimately has to approve the BTC spot ETF because they already approved a futures ETF not because of Grayscale's ETP. The SEC had no legal grounds for approving a future ETF and rejecting a spot ETF. They SEC also approved an ETH future ETF. So I imagine a lawsuit against the SEC would have the same result, the court will force the SEC to approve tge spot ETF for ETH.

noncognitive

It was a radical idea for "non-transparent" ETFs where Blackrock could trade assets without disclosing any of those assets to the ETF holders. Nothing at all like the ETH application.

Enjoying_A_Meal

All the ETH haters don't seem to understand that if ETH doesn't get approved because it's a security, it means most of the coins out there like Solana is also a security and they'll get delisted too.

InternationalDeer9

I know I don’t have any BTC / ETH. I thought I had Siacoin but it doesn’t seem to even have the app. Do you know if Ledger ever supported Siacoin? And the app was removed / no longer supported or something?

Heavenly_Spike_Man

Total stab in the dark here: maybe they thought they could transfer the Euros out? The only weird thing is not conveying the USDT straight to ETH… maybe they weren’t thinking clearly? 2FA could have prevented this.

jeetsstizzard

Investing $150k in the crypto market is a big decision! It can be exciting at first but also risky. It is good that you're thinking about it carefully. Crypto can be a rollercoaster, so it's good to be cautious. Your coin picks like DOT, ETH, XRP, and QNT all have their own stories and potential. But remember, the crypto market is like a wild west sometimes, so prices can swing like crazy. With this, diversifying your portfolio is smart. Putting your money in different coins can help spread the risk. But don't forget, only invest what you can afford to lose. Crypto can 3x your investments, but it can also crash hard. Plus, predicting Bitcoin's price is like trying to guess what's for dinner next Friday. The token could hit $115-120k by 2026, but who knows? And tripling your investment by 2025 is a bold and hard goal. It is possible, but there are no guarantees that you will not lose in crypto. For me, it is a need for you to do your homework. Learn about each coin, the team behind it, and what makes it unique. And don't rush in without thinking. You may check trustworthy sites like Traders Union to get good facts about trading and these coins. Also, Maybe chat with a financial advisor first to get some professional advice.

PlayingRS

So this means this will become BlackRock's second ETF to ever get denied? From what I've heard, they have a splendid record, 500+ approvals and only 1 ever denied. I'd be *really* surprised if ETH is going to be so powerful for the SEC that it becomes BR's second denied ETF ever. There's actually a near 0% chance that's going to happen, if we're all honest here. BR always gets what they want.

arkon-bot

Summary: - SEC likely to reject Ethereum spot ETF applications due to concerns about underlying Ether market data - Recent talks lacked substance and detailed dialogue compared to spot Bitcoin ETF approval - ETF issuers may initiate legal action if SEC denies spot Ethereum filings Negative Sentiment | Objective Presentation | 2min read Assets: $ETH 🤖 *Beep Boop: This message was generated by a Bot.*

Defusion55

No idea, could be that they hit a snag trying to withdraw the USDT and tried to convert to the euros in another attempt to withdraw and then hit another snag thus going back to ETH.

LargeSnorlax

Sigh... ETH has only gone up 3x... Why did I invest in this BS again, I could've gotten better gains from the S&P... Bull run my ass...

iamsoldats

Good. ETH is a bald-faced security. They should rescind ETH futures while they are at it and then fast track LTC and DOGE spot ETFs.