Ethereum Stakers: The Ultimate Parasites

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In this video, I discuss how Bitcoin miner turnover contrasts with rent-seeking Ethereum stakers.

Under proof of work, which is a highly competitive business, ASICs need to be constantly replaced, repaired, upgraded, etc.

This contrasts with proof of stake, where there is no churn in the validator set. Once a staker, always a staker (if you want to be) because there are no moving parts to wear down.

Ethereum hides itself beneath a mask of ESG, while seeking to set up a rent-seeking oligarchy. Under proof of stake, just like fiat, the rich get richer and are able to block new entrants.

Not investment advice! Consult a financial advisor.

Bitcoin Miners Are in Distress:
https://www.bloomberg.com/news/articles/2022-08-15/bitcoin-miners-are-in-distress#xj4y7vzkg

Rent Seeking:
https://www.investopedia.com/terms/r/rentseeking.asp

VC rent seeking:
https://www.cnbc.com/2021/10/13/vc-firm-andreessen-horowitz-to-make-crypto-policy-push-in-washington.html

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#ethereum
#proofofstake
#bitcoin

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