Saifedean Ammous on Lex Fridman: "Ethereum, Proof of Stake & ALL Alt-Coins are Shitcoins!" 💩🪙

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2 years ago
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Saifedean Ammous Ethereum ETH Altcoin Shitcoin Proof of Stake The Bitcoin Standard Principles of Economics Bitcoin BTC Economics

Saifedean Ammous argues that all Altcoins are cheap copies of Bitcoin, riding the coattails of BTC with no immaculate conception, or innovation amounting to more than gimmicks, nor were they developed solely for the good of Humanity. Ethereum is responsible for the spawn of over 23,000 Altcoins & NFTs, and its "Proof of Stake" is really "Proof of Wealth" where whales have full control over the protocol, and by nature that makes them the opposite of Decentralized. They are scams, rug pulls and pump and dumps, created to make rich insiders richer at the expense of the fools who buy them.

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