In today's edition of YILY (You Invest, You Lose) We take a look at the continued capture of a cucked coin that everyone seems to love for some reason, Ethereum. As Saifedean Ammous describes it, Ethereum is the mother asshole from which all shitcoins are birthed, and rightly so as all these other tokens are EVM copycats with even less to offer than Ethereum.
Every .ETH head pretty much had their boners ready for the merge which was a pretty flaccid affair if you ask me, did fuckall for the price, kicked out miners who now are either selling their devices or mining other shitcoins like ETC that are going nowhere and the network is as centralised and censored as ever.
ETH is FED coin
The Ethereum blockchain reached a new censorship milestone Friday finally hitting 51% of the blocks produced over the last 24 hours followed the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) compliance recommendations. It has dropped slightly since then but if you're majority complaint, where does it stop? 100% compliant? When do you just admit you're part of the banking rails?
Since the move to POS, it's made it even easier to manage this because it's all done through validators, and when it was a miner, miners could choose which blocks they added, now validators are easily pressured.
The majority of the blocks over the past day were delivered by relays that screened out transactions associated with Tornado Cash – a service that mixes transactions to make them anonymous – to comply with OFAC after it banned Americans from using the mixing protocol.
Now users could be sending funds to tornado cash for privacy, to tumble hacked funds or because they are on a no no list, but because you can't tell which is which you gotta ban the lot right? What have you got to hide anwyay?
Tell your daddy vitalik what you doing with your money.
Watching the chain cucked in real time
You can track censored blocks live through a sevice known as MEV watch and enjoy how your favourite shitcoin is getting cucked bending over to big daddy government. So where's your uncensorable money now?
What a fucking joke, shitcoiners are such fucking larpers it's embarrassing and the mental gymnastics they pull off when you show them cold hard facts is so stupid and a waste of time to debate.
Source: - mevwatch.info
A few ETH heads have come out in protest but the majority of people who use this don't care about decentralisation or censorship, they care about flipping an NFT or trying to farm another shitcoin, you don't need a robust network for that, you just need a database which is what Ethereum continues to be.
It was never decentralised and will never be decentralised and anyone who believes this can put their brain in a bag and hand it over to their local government official because you're not using it, they are so give it to the right owner please.
https://twitter.com/koeppelmann/status/1580893089077809153
- koeppelmann
Ethereum doesn’t look like it's offering any censorship resistance for now, so I guess we just remove that one from the marketing then, look sell monkey jpegs and forget about being censored, we're not as bad as Paypal...Yet!
It seems this issue will continue to gain momentum as more blocks adhere to censoring Tornado Cash transactions and it just keeps showing why bitcoin is the superior network and will never be flipped, well-done eth on another own goal, you make it so easy to dunk on you.
Use Eth and other EVM chains at your discretion
If you are planning to use ETH or any EVM chains know that the more you use it the more likely you are to tie that static address or vanity address to some meta data about yourself, this could be through a social media post or a KYC exchange withdrawal once that data is tied to you, it's pretty much over. You can now be blocked from doing transactions on these chains if you are on the OFAC naughty list or use tornado cash to maintain privacy
So if you think you're going to get away with paying no taxes and that you're safe because you're on a blockchain think fucking again, especially if you're holding assets that are centrally issued like a stablecoin, it only takes an email from the US government to get those tokens blacklisted and those tx's burned and you can no longer redeem them.
Sources:
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