Why I won't be buying Eth until the merge is completed things are running fine

justdimin

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Quote from: Eternad on September 08, 2022, 11:20:30 PM

I doubt this will happened since Vitalik didn’t do roll back before during DAO hack due to smart contract flaw because it will affect all the transaction occured. I think forking the new token is appropriate on this scenario if they want to fixed a major flaw on the smart contract without affecting all the transaction before they figure out all the bugs. Your suggestion is only possible if there will be no transaction done prior the discovery of the bugs.

I believe that they will do everything in their power to make sure that they can keep it rolling no matter what. Also the idea that Vitalik could roll it back is a mistaken one, ethereum is a decentralized project and NOBODY has any control over it, vitalik can't roll it back if he wanted to, we could all "offer" a rollback and if it is accepted then it would be rolled back, but if it is not then it won't be.

The only good advantage that Vitalik has is that he is known as the godfather of eth so if I offer it people may reject it, but if he offered it then people may accept the same thing because of his influence, but it still needs to be accepted by all.

tvplus006

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Quote from: Jackl87 on September 08, 2022, 04:12:54 PM

I am also not quite sure what to expect from Ethereum, not only in the near future but also in the long term one. ..

As for the long-term forecast of Ethereum prices, everything is more or less clear here. Due to the transition to POS, the inflation of the coin will decrease, since taking into account the burning of ETH and the fact that there will be no remuneration for miners, it may amount, according to some estimates, to only 0.22%. So the value of ETH should only increase in the long run.

posi

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Quote from: AmoreJaz on September 09, 2022, 09:42:19 AM

Quote from: Silberman on September 08, 2022, 10:03:54 PM

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that is true, most people are hoping for the gas fee to significantly go down after this upgrade. and if they won't see any progress in terms of fees, i am also seeing that people will throw negative criticisms towards eth network. people should educate themselves so they won't expect much from this upcoming event. anyway, at the end of the day, it is the prerogative for the people to invest more or not on eth. but whatever happens next, they should not blame anyone.

The fault lies with themselves, this whole upgrade process has been very carefully prepared and the ethereum development team has never mentioned reducing transaction fees in this upgrade. People have not updated this news, as an ethereum investor they should not ignore such important news.

If everything goes as you predict, people will dump ethereum, to be honest, I haven't thought of this Fud yet. This is our next chance to get cheap ethereum, I expect it to drop below $900 again.

AmoreJaz

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Quote from: Silberman on September 08, 2022, 10:03:54 PM

Quote from: TravelMug on September 08, 2022, 09:34:43 PM

Quote from: goaldigger on September 08, 2022, 04:57:28 PM

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I always seek a guarantee so I'll wait for the result of the merge first before deciding whether to buy or hold my Ethereum. For me, it's just fine to buy it while it's still quite low but I don't have plans of selling it when the merge happens. There have been many postponements so I don't expect too much from this update.

There will be no postponement for this, they are set for this update and many are quiet confused about the upcoming merge. Again, this merge will not solve the problem on higher fees, though this can solve the energy consumption of mining which can also benefit many from this. Let’s wait and hope for the success of this merge, this can trigger the bull trend button and we might see the market reacts on this.

I think they've already given a set of days for the update so for sure there will be no postponement. Yes, it is very clear and the made sure that this misconceptions about the fees are going to be solved when they upgrade.

If there will be a bull trend, probably it will not last that long. Market is still in the bearish state, so anything that might look like a bull run could be just artificial pump due to some news.

This misconception can really play against ethereum, many people actually believe that the current upgrade is going to help resolve the issue that ethereum has with the fees, and once this doesn't happen people are not going to be happy about it and it is likely a FUD campaign could start against ethereum and people will begin to complain about the update being useless, now I hope this doesn't happen but I do not see how speculators could let go of an opportunity like that.

that is true, most people are hoping for the gas fee to significantly go down after this upgrade. and if they won't see any progress in terms of fees, i am also seeing that people will throw negative criticisms towards eth network. people should educate themselves so they won't expect much from this upcoming event. anyway, at the end of the day, it is the prerogative for the people to invest more or not on eth. but whatever happens next, they should not blame anyone.

$anounimus$

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Quote from: Trx3 on September 06, 2022, 11:14:30 AM

I am open to learning more about crypto, if you think there are things I don't understand please do correct me in a friendly way, God bless

I am happy with ETH Coin. however There are a few things with ETH to be aware of, the main one being that to run the ETH network you need ETH which means that basically the miners are the owners of the ETH, currently the miners are holding more ETH than is needed to run them. nodes and perform transactions so that they can always choose to pay themselves large amounts of cash without impact.

Whether ETH will become another Imclone and become a global currency, I will be excited to hear about this once The final Phase before the merge to proof-of-stake is complete. For sure you have to be sure that the exchange you are using will support ether after the Ethereum network update.

Minecache

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Quote from: Wakate on September 08, 2022, 04:53:23 PM

Quote from: Minecache on September 08, 2022, 04:18:39 PM

Quote from: hugeblack on September 06, 2022, 02:32:02 PM

The idea itself (POS) I don't think it is good in the long run so I sold everything I had.

Many people assume that once moving to POS, ethereum will become more centralized and will be managed by whales and exchanges, the price of which can be more easily manipulated. But upgrading to POS of ethereum is really necessary as it has become very slow and old, scalability is not available, especially gas fees hinder eth development. Moving to POS, eth will be more eco-friendly as it reduces energy usage by up to 99% and token deflation will also make eth more scarce, thereby boosting the price of eth.

I can see a lots of investors are aping into Ethereum because of the merge that had been trending online and everyone is preparing to make some good profits before the bull will arrive looking at how volatile the market will be.
Well Ethereum will be more eco-friendly soon and the POS is a better option for every Ethereum investors which will finally reduced the high network fee people had been battling about to be lesser and stable.

I think you are as confused as the others, most people are misinterpreting the ethereum upgrade. After many delays, the ethereum upgrade will be completed on 9/15 but the upgrade to POS still cannot make ethereum network fees cheaper as people think, but only helps ethereum reduce energy consumption like me said. The network fee reduction and block expansion for ethereum will improve after ethereum receives the sharding update. For ethereum, sharding is the most important update.

Eternad

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Quote from: dansus021 on September 08, 2022, 11:06:11 PM

well it always depends on you, but as far that I know if there is something go wrong they can rollback the chain. but offcoure it will take effect to price of ethereum

so far so good the postponed delay i think to make sure that everything is fine

I doubt this will happened since Vitalik didn’t do roll back before during DAO hack due to smart contract flaw because it will affect all the transaction occured. I think forking the new token is appropriate on this scenario if they want to fixed a major flaw on the smart contract without affecting all the transaction before they figure out all the bugs. Your suggestion is only possible if there will be no transaction done prior the discovery of the bugs.

dansus021

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well it always depends on you, but as far that I know if there is something go wrong they can rollback the chain. but offcoure it will take effect to price of ethereum

so far so good the postponed delay i think to make sure that everything is fine

Silberman

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Quote from: TravelMug on September 08, 2022, 09:34:43 PM

Quote from: goaldigger on September 08, 2022, 04:57:28 PM

Quote from: ?? on ??

I always seek a guarantee so I'll wait for the result of the merge first before deciding whether to buy or hold my Ethereum. For me, it's just fine to buy it while it's still quite low but I don't have plans of selling it when the merge happens. There have been many postponements so I don't expect too much from this update.

There will be no postponement for this, they are set for this update and many are quiet confused about the upcoming merge. Again, this merge will not solve the problem on higher fees, though this can solve the energy consumption of mining which can also benefit many from this. Let’s wait and hope for the success of this merge, this can trigger the bull trend button and we might see the market reacts on this.

I think they've already given a set of days for the update so for sure there will be no postponement. Yes, it is very clear and the made sure that this misconceptions about the fees are going to be solved when they upgrade.

If there will be a bull trend, probably it will not last that long. Market is still in the bearish state, so anything that might look like a bull run could be just artificial pump due to some news.

This misconception can really play against ethereum, many people actually believe that the current upgrade is going to help resolve the issue that ethereum has with the fees, and once this doesn't happen people are not going to be happy about it and it is likely a FUD campaign could start against ethereum and people will begin to complain about the update being useless, now I hope this doesn't happen but I do not see how speculators could let go of an opportunity like that.

TravelMug

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Quote from: goaldigger on September 08, 2022, 04:57:28 PM

Quote from: ?? on ??

I always seek a guarantee so I'll wait for the result of the merge first before deciding whether to buy or hold my Ethereum. For me, it's just fine to buy it while it's still quite low but I don't have plans of selling it when the merge happens. There have been many postponements so I don't expect too much from this update.

There will be no postponement for this, they are set for this update and many are quiet confused about the upcoming merge. Again, this merge will not solve the problem on higher fees, though this can solve the energy consumption of mining which can also benefit many from this. Let’s wait and hope for the success of this merge, this can trigger the bull trend button and we might see the market reacts on this.

I think they've already given a set of days for the update so for sure there will be no postponement. Yes, it is very clear and the made sure that this misconceptions about the fees are going to be solved when they upgrade.

If there will be a bull trend, probably it will not last that long. Market is still in the bearish state, so anything that might look like a bull run could be just artificial pump due to some news.

GxSTxV

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Quote from: Trx3 on September 06, 2022, 11:14:30 AM

Is this ideal or let me use the word most suitable, I plan not to buy Ethereum until the merge is complete because

1. Its been years that we've been waiting for this merge to happen and there have been so many delays and postponements for the past years, I doubt things will go smoothly, what if something so catastrophic happens to Ethereum when and after the merge?. .this upgrade has not been tested yet so anything could go wrong.

2. Many exchanges already halted every Eth transactions starting from today and that's even on other chains as well, I think they knew anything could go wrong, even erc20 tokens can't be processed or sent when the merge is close am I right?

I am open to learning more about crypto, if you think there are things I don't understand please do correct me in a friendly way, God bless

Believers in crypto and Ethereum specifically won’t sell their any amount of their assets and they choose even to buy more of it and take the good risk and have a big faith on this comming upgrade, the proof that we didn’t see that big drop of price after all. The next stage is coming in these next days so i suggest if you believe in Ethereum to buy some of it now

goaldigger

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I always seek a guarantee so I'll wait for the result of the merge first before deciding whether to buy or hold my Ethereum. For me, it's just fine to buy it while it's still quite low but I don't have plans of selling it when the merge happens. There have been many postponements so I don't expect too much from this update.

There will be no postponement for this, they are set for this update and many are quiet confused about the upcoming merge. Again, this merge will not solve the problem on higher fees, though this can solve the energy consumption of mining which can also benefit many from this. Let’s wait and hope for the success of this merge, this can trigger the bull trend button and we might see the market reacts on this.

Wakate

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Quote from: Minecache on September 08, 2022, 04:18:39 PM

Quote from: hugeblack on September 06, 2022, 02:32:02 PM

The idea itself (POS) I don't think it is good in the long run so I sold everything I had.

Many people assume that once moving to POS, ethereum will become more centralized and will be managed by whales and exchanges, the price of which can be more easily manipulated. But upgrading to POS of ethereum is really necessary as it has become very slow and old, scalability is not available, especially gas fees hinder eth development. Moving to POS, eth will be more eco-friendly as it reduces energy usage by up to 99% and token deflation will also make eth more scarce, thereby boosting the price of eth.

I can see a lots of investors are aping into Ethereum because of the merge that had been trending online and everyone is preparing to make some good profits before the bull will arrive looking at how volatile the market will be.
Well Ethereum will be more eco-friendly soon and the POS is a better option for every Ethereum investors which will finally reduced the high network fee people had been battling about to be lesser and stable.

abel1337

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I don't worry that much about the ETH merge. There are many speculations about it not going down and I think I think it won't be a catastrophic event. As we all know, ETH merge has been delayed for years now and I'm positive that they won't release a disappointment after that long delays. They have tested it multiple times on testnet and I'm sure problems might occur but it won't be that bad that they will go down after the merge. Transactions halts on the blockchain is pretty much expected and understandable since they will make a very big move about their blockchain.

Minecache

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Quote from: hugeblack on September 06, 2022, 02:32:02 PM

The idea itself (POS) I don't think it is good in the long run so I sold everything I had.

Many people assume that once moving to POS, ethereum will become more centralized and will be managed by whales and exchanges, the price of which can be more easily manipulated. But upgrading to POS of ethereum is really necessary as it has become very slow and old, scalability is not available, especially gas fees hinder eth development. Moving to POS, eth will be more eco-friendly as it reduces energy usage by up to 99% and token deflation will also make eth more scarce, thereby boosting the price of eth.

Jackl87

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Quote from: Trx3 on September 06, 2022, 11:14:30 AM

Is this ideal or let me use the word most suitable, I plan not to buy Ethereum until the merge is complete because..

I am also not quite sure what to expect from Ethereum, not only in the near future but also in the long term one. I am not that deep into all the coding stuff and therefore i am no expert in what that merge really will bring execpt from the fact that Ethereum will no longer be a proof of work coin but a proof of stake coin then. I do think though that many users may have exaggerated expectations to that merge and what it will mean in regards to transfer fees on the ETH chain.
I can imagine that some people could sell off their ETH if they realise that the merge did not have the impact on the transfer fees that they would have expected.
On the other hand ETH is so big now that i think it is almost impossible that it will lose relevance and that it won't be a top 5 coin in a few years anymore or something like that.

tvplus006

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You're right, this is not the time to buy eth but not even to sell it you just have to wait for the success of the merge, the exchanges have blocked the trades only as a precaution, none of them will miss a gluttonous profit opportunity like this, if the eth's value won't grow after that for sure it won't go down either

The price of ethereum after the merger may also collapse if those traders who bought ETH before the merger to get a free ETH PoW coin start selling it massively after the fork. It is very difficult to predict further developments, but the best solution would be to borrow ETH before the merger, get ETH PoW after the fork and pay off the ETH debt.

Yaunfitda

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Quote from: Trx3 on September 06, 2022, 11:14:30 AM

Is this ideal or let me use the word most suitable, I plan not to buy Ethereum until the merge is complete because

1. Its been years that we've been waiting for this merge to happen and there have been so many delays and postponements for the past years, I doubt things will go smoothly, what if something so catastrophic happens to Ethereum when and after the merge?. .this upgrade has not been tested yet so anything could go wrong.

Isn't it been tested first on their testnet? I do agree that the mainnet might have a problem, but I don't think it will be catastrophic as you may have think.

Quote from: Trx3 on September 06, 2022, 11:14:30 AM

2. Many exchanges already halted every Eth transactions starting from today and that's even on other chains as well, I think they knew anything could go wrong, even erc20 tokens can't be processed or sent when the merge is close am I right?

This is just a precautionary measures, just like any other crypto's that have upgraded in the past. They halted all transactions until everything settles down.

You can still hold ETH on exchanges and nothing happens.

Review Master

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Quote from: Trx3 on September 06, 2022, 11:14:30 AM

I am open to learning more about crypto, if you think there are things I don't understand please do correct me in a friendly way, God bless

Best for you not to assume anything without any proper research. However most forum users already replied correct information with their replies. In the meantime, i would like to suggest you to go throughout the articles which are posted coingecko or coinmarketcap or any twitter thread where more information are available to enrich your knowledge. Thus you will have positive/correct perspective regarding ethereum or anything. Wink

icalical

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I have the same thought, I already hold some ETH, and I wouldn't buy or sell it until the merge is done, only after that I would decide what would I do with my ETH. Currently it is still in the phase of 'sell the news' selling it now would only make me lose my money, and buying it wouldn't be a smart decision either because I haven't seen what is the effect of the merge, and how other investor react to it.

Topic: Why I won't be buying Eth until the merge is completed things are running fine (Read 316 times)