I had both for years, then earlier this year I noticed how #Eth's price has lost it's correlation to BTC's price ever since they moved to proof of stake. They've been losing ground ever since.
This happened around the same time that I realized how important mining is to inject energy into the ecosystem. Proof of stake is a Zero-Sum game which by definition is a ponzi scheme, proof of work is not. I sold all my Eth for BTC and hold no shitcoin's now.
Proof of work is what pushes the price up over the long term, as everything moves towards it's marginal cost of production which doubles every 4 years, as well as increases gradually every time there's an increasing difficulty adjustment.
I wrote my thoughts on this in more detail yesterday:
note1fsncsjmfhnhlp5s8ppdd5w7fk7937n4vtcw3wu3xf4y962gc036qdm6ced
TheBitcoinBattery / ₿ = Perfectly stored time + energy
npub1kl…fq497
2024-09-05 15:06:40
in reply to nevent1q…ufxv
Author Public Key
npub1kl8aguhljq6yrmrv64dm2phew3pprfhx3ef9yh2zg3gkn0dq8adqzfq497Published at
2024-09-05 15:06:40Event JSON
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"content": "I had both for years, then earlier this year I noticed how #Eth's price has lost it's correlation to BTC's price ever since they moved to proof of stake. They've been losing ground ever since. \n\nThis happened around the same time that I realized how important mining is to inject energy into the ecosystem. Proof of stake is a Zero-Sum game which by definition is a ponzi scheme, proof of work is not. I sold all my Eth for BTC and hold no shitcoin's now. \n\nProof of work is what pushes the price up over the long term, as everything moves towards it's marginal cost of production which doubles every 4 years, as well as increases gradually every time there's an increasing difficulty adjustment.\n\nI wrote my thoughts on this in more detail yesterday: \n\nnote1fsncsjmfhnhlp5s8ppdd5w7fk7937n4vtcw3wu3xf4y962gc036qdm6ced",
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