meme-me-up
First upgrade of ETH2 got accomplished - the stragglers who haven't upgraded will get punished by having their 32 ETH staked getting slashed over time. Most likely the last upgrade of ETH1 will be around December 8th - this will push the date of the difficulty bomb to become effective June 2022.
time) at which the mining difficulty will begin to increase enough that it becomes an hindrance to mining until Ice Age is reached when mining halts. Unlike BTC; the ETH developers force the miners to upgrade via this mechanism. The bomb needs to be delayed to come into effect post the merge
Theoretically, this means the merge will be completed prior to June 2022 if all goes well; otherwise, difficulty bomb will need to be postponed again around late May.
Raoul Pal of Real Vision has instigated a push on ETH call accumulation from his followers for March 22 to the extent that I wonder how it will play out if the merge gets postponed.
A dog themed coin created as a copy of Olympus (a DeFi bank with a reserve currency referred to as OHM); managed to get $60m invested in space of mere hours...and somehow lost them. Seems like everyone piled in because memes are cool and quick money makers. However, most likely the plot twist is looking more like that the initiator of the project was someone with not-so-clean-hands who got out-smarted by others with similar skillset. So moral of story; there is too much cash slushing around, there is need for interest bearing instruments, the rotation of money running amok between crypto (except BTC / ETH) may well need another washout. Wondering if the washout will come as a result of the latest FATF guidance being implemented that on initial reading seems to give an avenue to countries to become stricter if they so wish. Convex games lead to convex results; not sure Gary can prevent these.
Interesting Reads / Listens:
Nate Geraci
Arthur Hayes
