Imagine being the idiot who made this thread - “The project/platform itself has always interested me as it seems capable of far much more than Bitcoin”.
I’d hate to be that moron!
Well the question is @CashCow do you still own any ETH?
Of course. My work here isn’t done - I haven’t taken it down to 0.
Keep the faith
Coinbase’s announcement:
Preparing for the Ethereum Merge
The long-awaited Merge is almost here – Ethereum is anticipated to move from the Proof-of-Work (PoW) consensus mechanism to the Proof-of-Stake (PoS) consensus mechanism on or around September 15, 2022. This move will make Ethereum more secure, less energy-intensive, and better for implementing new scaling solutions. To better understand the Merge, read more here.
Your assets will be safe and secure during this period and there is no action required of you, but we’re sharing information on what to expect leading up to and during the Merge:
Before and during the Merge
Ethereum and ERC-20 token deposits and transfer will experience brief delays, with no expected trading impact
During the Merge, Coinbase will briefly pause Ethereum (ETH) and ERC-20 token deposits and withdrawals as a precautionary measure. This pause will affect transfers on the Ethereum, Optimism, and Polygon networks. Deposits and withdrawals will be re-enabled after the Merge, but may have delayed processing for the first 24 hours. This will ensure your maximum safety as the new Proof-of-Stake Ethereum network begins to process transactions. We do not expect any other networks or currencies to be impacted.
We will keep you updated
You will be informed via Twitter and the status page when ETH and ERC-20 tokens are available for deposits and withdrawals.
No action is needed from you but stay alert for scams
It’s important to always be on high alert for scams, but especially leading up to the Merge. We recommend you don’t send your ETH to anyone in an attempt to “upgrade to ETH2” as there is no ETH2 token. Your assets will be safe and secure during this period and no action is required to upgrade on your part.
After the Merge****An increase to the ETH staking yield is anticipated
After the Merge, we anticipate an increase in ETH staking yields as the rewards will incorporate transaction fees currently paid to miners under the proof-of-work mechanism. Any rate changes will be reflected under the ETH2 staking page if you are staking ETH at the time.
Staked ETH (ETH2) won’t be unlocked at the time of the Merge
Staked ETH (ETH2) balances won’t be unlocked after the Merge or be available to trade or transfer until the Ethereum protocol upgrade completes. The upgrade is anticipated to be completed by 2023. However, to give users more flexibility, Coinbase has a new token that lets you unlock the value of your staked ETH. You can now wrap ETH2 to cbETH to sell, transfer to your self-custody wallet, or use in DeFi.1 There are zero fees for wrapping to cbETH and you continue to earn staking rewards so long as you hold the token
(This is not investment advice on my part I am sharing information from Coinbase in relation to the upcoming ETH merge)
Yeah I saw that. I was under the impression that ETH2 would be available when the merge happens, not “by 2023”. Glad I didn’t stake 100% of my ETH.
Long live $ETC
Ethereum Classic is not Ethereum!
Merge tomorrow! 