Ethereum Cofounder Joe Lubin: High Gas Fees Are a 'Measure of Success'

[RikkiTikki_is_Back]

If I have my project on Ethereum, and I was eating those high @55 gas fee's what Joe Lubin said here would not sit well with me!!  It wreaks of utter arrogance!!

 

https://decrypt.co/88020/ethereum-cofounder-joe-lubin-high-gas-fees-are-a-measure-of-success

[Julian_Williams]

Lubin added that Ethereum 2.0, which he says should arrive by "Q2 or possibly slipping into Q3 next year," will help address both transaction costs and energy use. He also had friendly words for Ethereum competitors, though he noted that those networks are not immune to rising gas fees either.

Now it is Q3 next year, and they never hit there targets so far, so I guess that is 2023.  And are SEC going to turn a blind eye to another ICO from ETH foundation?   

 

 

[thinlyspread]

Completely out of touch. 

The high gas fees are, however, a "success", if you define success as enriching the mining and early investor classes. 

[RipMcGillicuddy]

1 hour ago, thinlyspread said:

Completely out of touch. 

The high gas fees are, however, a "success", if you define success as enriching the mining and early investor classes. 

both of which he belongs to...same for Novogratz...go figure. 

[Danny]

So is inflation.

[RikkiTikki_is_Back]

The more I hear and see about Ethereum and the SEC lawsuit the more I see the SEC's goal and role in this or should I say Dirty Gary's role was not to win but to stall!! Right now, the only way Ethereum beats its competition is through legal intimidation and first mover advantage which the second becomes more volatile as viable better competition arises.  This is all being done to dampen the market(fire) of the competition until ETH can successfully implement it's changes if they can at all. It's almost like the SEC lawsuit was part of the project plan for implementing ETH 2.0 and moving to POS.    I took the below quote from an article speaking on Solana.  My point in doing so is to illustrate that while ETH does not have 2.0 in place they are ripe for the picking and this lawsuit is simply a defense mechanism employed by the powers behind ETH.  If they can't beat them litigate them to irrelevance

"Until Ethereum 2.0 fully rolls out, it should leave room for next-gen blockchains to get a share of the dapp market. ETH 2.0 is due to happen in 2022. So far, Solana is the fastest programmable blockchain."

The Etorro delisting of Cardano was scare tactic but to make it look like the influence was more indirectly than direct it had to come from a source outside the US but who would be more opt to bid for a US governmental agency practicing unfair tactics in the international arena.  "I still think the delisting of Cardano from Etorro was a forced narrative Tron was just a causality of making it look untampered with.  The goal here was to scare the market away from Cardano.  They can't legitimately go after XRP and Cardano at the same time then it would definitely look like a witch hunt put on for the efforts of protecting Ethereum, but they still need to do things to potentially thwart the progress of Cardano while suppressing XRP.

Again, SEC's goal here is not to win the case but to delay progress.  Cardano is the 3rd leading Smart Contract platform by marketcap only surpassed by Binance Coin and ETH.  XRP is in the top 10 even with an SEC lawsuit and no Smart Contracts yet.  The money machine behind Ethereum see's the writing on the wall and their willing to burn the whole damn building if it means their precious ETH maintains its status. The SEC knew the case against Ripple was and is a lost cause this is why I see a settlement occurring before a judgement.  A judgement would go well for the entire space.  I know were all tired of the suppression but don't be fooled this case was never about a trial that will not be a good thing for the SEC or Ethereum as it relates to fair competition.  Me personally I would love to see it end in a trial win for Ripple because legally it will tie the SEC's hands!!

Edited December 13, 2021 by RikkiTikki_is_Back