Ethereum's Hairball Moment

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In this video, I discuss a thought experiment in which Ethereum undergoes a contentious hard fork in the context of attempted OFAC censorship.

I demonstrate that large regulated entities like Circle, Coinbase, Kraken, etc would probably all side with the OFAC-compliant side of the fork, thus eviscerating the more cypherpunky side of the fork.

What this suggests is that DeFi and its main collateral USDC (combined with Ethereum's move to proof of stake) make it highly likely that Ethereum eventually succumbs to government capture and censorship.

Not investment advice! Consult a financial advisor.

OFAC:
https://en.wikipedia.org/wiki/Office_of_Foreign_Assets_Control

Is Your Crypto Collaborating With Government Spy Coins?
https://www.youtube.com/watch?v=aEd7sqRQLKI&ab_channel=BitcoinUniversity

ConsenSys and CBDCs:
https://consensys.net/solutions/payments-and-money/cbdc/

ConsenSys:
https://en.wikipedia.org/wiki/ConsenSys

Largest ETH stakers:
https://dune.com/hildobby/eth2-staking

DAI collateralization:
https://daistats.com/#/overview

USDC dominates the DeFi space:
https://www.circle.com/blog/usdc-stablecoin-crypto-defi-lending-interest-markets

Ethereum Classic (ETC):
https://coinmarketcap.com/currencies/ethereum-classic/

Ethereum (ETH):
https://coinmarketcap.com/currencies/ethereum/

Taro and stablecoins on Bitcoin:
https://bitcoinmagazine.com/technical/taro-launches-stablecoins-on-bitcoin

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
#usdc
#bitcoin

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