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The Ethereum Merge And Misconceptions Explained
There’s a lot of misconceptions about the ETH Merge. Let’s talk about them and share exactly what has changed and what the future holds.
This is my 539th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!
This is a great resource for everything about the Ethereum Merge: https://ethereum.org/en/upgrades/merge/.
Ethereum switched from proof of work to proof of stake. Not a lot else has changed yet, but it has set a lot in motion. Namely the stakers are now running the network instead of the miners, however there is no notable changes for end users. ETH will stay the same in terms of the ticker and you don’t have to do anything in your wallets to switch over. Another major change is that by switching from proof of work to proof of stake will reduce the energy consumption of Ethereum by ~99.95% which is huge given a major criticism of proof of work blockchains is that they are energy intensive and not environmentally friendly.
For simplicity, we are now calling Eth1 the execution layer where transactions are handles and Eth2 the proof of stake consensus for validators. This doesn’t change anything other than the naming so we can better discuss and explain Ethereum.
For the 4 phases breakdown and all the common misconceptions explained check out the full blog post!
Read.cash: https://read.cash/@scottcbusiness/the-ethereum-merge-and-misconceptions-explained-ba757543
Medium: https://scottcbusiness.medium.com/the-ethereum-merge-and-misconceptions-explained-d78c822e711e
Coindesk has a great breakdown that is much more indepth which I used to understand a lot about the phases here: https://www.coindesk.com/tech/2022/08/01/ethereum-after-the-merge-what-comes-next/.
That’s it. The merge was a bit overhyped, even by me. However, it marks the start of a major shift for Ethereum where it will be ahead of most of it competitors that popped up and marketed themselves purely on the basis of doing more transactions at a lower gas fee while Ethereum aims to crush these chains. In the next year I expect many competitors to fall off. Only those with useful applications like Cosmos may stand a chance.
What do you think about Ethereum 2.0? Are you staking? Is this better or worse for Ethereum in the long run? What phase are you anticipating the most? Let me know what you think about this in the comments below and don’t forget to subscribe!
*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*
? Support Me & Follow Me Elsewhere ?
? http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all of my referral links here: https://linktr.ee/scottcbusiness
Use referral code 9433407 for FTX when you sign up for some free crypto!
This is my 539th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!
This is a great resource for everything about the Ethereum Merge: https://ethereum.org/en/upgrades/merge/.
Ethereum switched from proof of work to proof of stake. Not a lot else has changed yet, but it has set a lot in motion. Namely the stakers are now running the network instead of the miners, however there is no notable changes for end users. ETH will stay the same in terms of the ticker and you don’t have to do anything in your wallets to switch over. Another major change is that by switching from proof of work to proof of stake will reduce the energy consumption of Ethereum by ~99.95% which is huge given a major criticism of proof of work blockchains is that they are energy intensive and not environmentally friendly.
For simplicity, we are now calling Eth1 the execution layer where transactions are handles and Eth2 the proof of stake consensus for validators. This doesn’t change anything other than the naming so we can better discuss and explain Ethereum.
For the 4 phases breakdown and all the common misconceptions explained check out the full blog post!
Read.cash: https://read.cash/@scottcbusiness/the-ethereum-merge-and-misconceptions-explained-ba757543
Medium: https://scottcbusiness.medium.com/the-ethereum-merge-and-misconceptions-explained-d78c822e711e
Coindesk has a great breakdown that is much more indepth which I used to understand a lot about the phases here: https://www.coindesk.com/tech/2022/08/01/ethereum-after-the-merge-what-comes-next/.
That’s it. The merge was a bit overhyped, even by me. However, it marks the start of a major shift for Ethereum where it will be ahead of most of it competitors that popped up and marketed themselves purely on the basis of doing more transactions at a lower gas fee while Ethereum aims to crush these chains. In the next year I expect many competitors to fall off. Only those with useful applications like Cosmos may stand a chance.
What do you think about Ethereum 2.0? Are you staking? Is this better or worse for Ethereum in the long run? What phase are you anticipating the most? Let me know what you think about this in the comments below and don’t forget to subscribe!
*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*
? Support Me & Follow Me Elsewhere ?
? http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all of my referral links here: https://linktr.ee/scottcbusiness
Use referral code 9433407 for FTX when you sign up for some free crypto!
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I recently had the chance to discuss Holdex with Vadim Zolotokrylin who is the CEO and co-founder to discuss the project and where they are going with it in 2020.
Holdex is on a mission to empower organizations’ financing cycle. They help to provide you clarity and not hype on amazing dapps. They also aid you in finding airdrops, giveaways and more with ease.
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• Can you give us a brief introduction to Holdex? – 1:32
• What problem does Holdex solve? – 2:20
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Let me know what you think about this in the comments below and don’t forget to subscribe!
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In this video I go over how to earn SOL, acquire SOL, and the best way you can boost your posts and spend your SOL. If there's anything I missed or misinformed on please let me know.
Cheers
? You can also follow me on:
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Steem - https://steemit.com/@scottcbusiness
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SOLA - https://sola.ai/scottcbusiness
Gab - https://gab.com/scottcbusiness
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BitChute - https://www.bitchute.com/channel/scottcbusiness/
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BTC: 3MWhAo2pbrKLmhkRGj8WuTo2VzLVeuimTs
LTC: MJMYVTL5iL9GvyQJcn7w7uiyUFMuSFDHke
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It's not easy to always be disciplined, stay consistent, and keep grinding, but it's worth it. It's ironic as I have been slacking a little lately, but I believe it all the same. I make the analogy of how it works the same with something like working out. If you still go to the gym even when you don't want to, you will be able to achieve the results you truly want and get the fulfillment from having overcome the obstacles and or challenges in your way. I don't think you should overwork yourself or do anything drastic, but I believe discipline is an amazing thing and we cannot opt-in to do the things we set out to only on the days that we feel like doing so.
? You can also follow me on:
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SOLA - https://sola.ai/scottcbusiness
Gab - https://gab.com/scottcbusiness
BitTube - https://bit.tube/scottcbusiness
BitChute - https://www.bitchute.com/channel/scottcbusiness/
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LinkedIn - https://linkedin.com/in/scottcbusiness
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ETH: 0xE0d930a0aa8e57e037D749a868ade5682a34e88e
BTC: 3MWhAo2pbrKLmhkRGj8WuTo2VzLVeuimTs
LTC: MJMYVTL5iL9GvyQJcn7w7uiyUFMuSFDHke
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HOW T
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Bounty0x is a great platform where you can complete bounties for participating in different crypto airdrops.
Check out my blog guide to go with this on:
Minds: https://www.minds.com/scottcbusiness/blog/how-to-earn-tons-of-crypto-rewards-on-bounty0x-1028177776112173056
Publish0x: https://www.publish0x.com/at-scottcbusiness/how-earn-tons-crypto-bounty0x-xvzzww
Let me know what you think about this in the comments below and don’t forget to subscribe!
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? Check out all my social platforms and relevant links ?
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You can support me via ?
ETH: 0xE0d930a0aa8e57e037D749a868ade5682a34e88e or scottcbusiness.eth (from any eth wallet)
BTC: 3Bh49RK9GM6Q15a6q13MMfvMbrWihJMast
LTC: MRLLJe9Fywxq1f9ehjDDZNT8ar7MKx3ZS1
You can also now send BTC, LTC, and ETH to scottcunningham.zil via Moonlet, Counter, or Coinomi
#bounty0x #crypto #cryptocurrency
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Hive launched Friday via a hard fork off the Steem blockchain. Steemit has since retracted the majority of its community support delegations and many dapps and projects have migrated to and voice support for Hive. Can Steem survive this?
In this, we will cover the Hive launch, the Hive airdrop, Dapps that have moved to Hive, Steemit’s censorship, Steemit’s delegation removal, and the future of the two chains. Let’s dive in.
For the rest of the blog go to Publish0x: https://www.publish0x.com/at-scottcbusiness/steem-vs-hive-the-results-are-in-xoedmg
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John-Mcafee-Interview-1
I had the chance to chat with John McAfee just before he left Spain a few days after the COVID lockdown ended. This is an exclusive look at his experience there.
> "It was like we were in jail" - John McAfee
John is famous for his wild personality, his widely known and used McAfee security and anti-virus software, and his controversial tweets. We are going to spend some time diving into the virus, what he’s been doing during this time, cryptocurrency, privacy, our rights, and what he believes the consequences of all of this will be.
Be warned and do note that he is quite controversial, and his opinions and thoughts may be quite out there. I want to state that I do not necessarily agree with everything he said and my nods in the interview are more so to show that I’m listening in the conversation. Do your own research and take this information with a grain of salt. He’s a pretty eccentric guy, so I let him just go off (he doesn't tend to answer the question asked anyway). This interview is pretty ridiculous and I was considering not posting it originally, but it’s John McAfee and anyone prone to his antics won’t be too surprised.
**This is my first LBRY exclusive. This means that this episode will not appear on any other platform in any other form of media. I will begin to do more LBRY exclusives in the coming months so look out for that and do subscribe.**
The 2 questions I was able to ask him were:
• How and when did you originally get into cryptocurrency?
• What’s one message you’d want to get out to people who may not know what to do in this crisis?
You can find him and follow him on Twitter at @officialmcafee - https://twitter.com/officialmcafee
Did you enjoy the interview? What are your thoughts on the crisis? Do you agree with McAfee? Let me know what you think about LBRY exclusives. Share your thoughts in the comments below and don’t forget to like and subscribe.
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First I'd like to thank a troll on Minds for inspiring this content for today and making it easier for me. To trolls: thanks for all your help in marketing my content and helping me trend
To people who are upset with trolls: understand it is going to happen and you can just block them or regulate them on your content so you can reap the benefit of their engagement and marketing opportunities created. A troll can make you trend just as much as a loyal fan, the only difference is the troll isn't aware of how much they help you versus how much they hinder you. Let them be annoying and then just delete their comments after. You win in the end with the trend.
As one of my followers @roo3story on Minds mentioned, the tech support is not your helicopter parent, you can either block them and deal with it yourself or capitalize on it. It's a lot easier for you to block them than it is for them to try to make multiple accounts and go through tons of effort to troll you. You just have to be actionable and not decide you're a victim of trolling. I have been gang-stalked on Twitter in the past and I just dealt with it. It didn't last long because it takes them a lot more effort than it takes me. By no means am I encouraging trolling, but I am encouraging you change the way you look at it.
Also I am not undermining people's emotional distress who are affected by trolling. I just want to provide a different perspective to the issue.
? You can also follow me on:
Twitter - https://twitter.com/Scottcbusiness
Facebook - https://www.facebook.com/ScottCBusiness
Instagram - https://www.instagram.com/scottcbusiness
LinkedIn - https://linkedin.com/in/scottcbusiness
YouTube - https://www.youtube.com/channel/UCDBycVghUbnimnzqirsU1Jg
Steem - https://steemit.com/@scottcbusiness
Minds - https://www.minds.com/scottcbusiness
Whaleshares - https://whaleshares.io/@scottcbusiness
Weku - https://deals.weku.io/@scottcbusiness
SOLA - https://sola.ai/scottcbusiness
You can support me via:
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#success #socialmedia #trolling
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Wow. Narrative is shutting down. It was just last week that I finally decided to certify on the platform for better rewards which I did so reluctantly given they require you to pay via Paypal. Let me tell you why I think it was a scam.
In my comprehensive review I had said:
“Narrative looks like it could have potential, but it’s mainly geared to reward early adopters. Like for example to start a new “tag” or niche as they call it, you have to bid on it and it could be anywhere from $50-$500. I don’t think it’s realistic that people would pay that, but they have. I’ve only scratched the surface so maybe there is more to the story that is Narrative. You need a NEO wallet to earn NRVE. When digging in further into platform I found that niche owners are upset because they actually have to renew their ownership and they have earned next to nothing as the owner but spent between $50-500 so for quite some time I expect this to only generate losses. Maybe users will have a good time here, but I don’t think it’s quite ready yet. I will try to use it more to test it. You also need to pay $15 via Paypal to certify.”
You can find my Minds version of the comprehensive review here: https://www.minds.com/scottcbusiness/blog/comprehensive-blockchain-social-media-platforms-review-iv-1038934439106088960
For a while I had noticed that people complained they were losing money hosting niches or “categories” and I wanted to continue to test this on your behalf but low and behold a platform I had not recommended in my review didn’t hold up just like Hyperspace and surely 99% of the rest I didn’t recommend.
This isn’t to brag that I was correct, I lost money. This is to show you that my comprehensive reviews clearly have some merit and insight into where this space is headed and to give you the best idea where to invest your time given I’ve been historically correct and the ridiculous amount of time I put into these reviews and all the other things I do.
The point here is that I will lose money, get scammed, and waste my time on your behalf so you don’t have to.
According to their statistics: https://www.narrative.org/hq/reporting/network-stats they sold over 1000 niches and only ever gave out $1,152.53 USD worth of rewards.
I don’t know how much niches cost originally, but today they were listed at 695,345 as the minimum bid which is you bought NRVE during the ICO would cost you about $80,000 USD plus you had to renew yearly.
What’s really crazy is they raised millions of dollars: https://tokensale.narrative.org/
This is their official shutting down post: https://www.narrative.org/post/narrative-sunsetting
Follow me for more updates on blockchain and crypto-monetized social media and please feel free to donate to scottcbusin
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Earnings-Report-20
You want to take full advantage of the social platforms out there that use blockchain technology or have crypto monetization, so here are the 14 platforms I used to earn $653.04 CAD worth of fiat & crypto in July as well as some insights on them.
My total alleged crypto social media income earnings are now up to $30,544 CAD not including crypto appreciation after originally receiving it.
**Video Timestamps**
*00:00 Intro
01:02 Tracking Reports
02:57 Social Metrics
09:40 Crypto Earnings
27:20 Outro*
### July Metrics & Content:
To briefly go over my social media results for July, I received around 6,500 engagements, 68,750 video views, 1,000 comments, 3,900 followers, and 295,000 impressions. I received a lot less engagements this month, but more video views and followers than last month. Things are tracking along well, but my YouTube channel continues to decline after getting my false community strike.
### July Earnings:
**Publish0x** – 7.61 AMPL - $1.22 CAD = $9.28 CAD + 0.11 FARM - $269.38 CAD = $29.63 earned from post rewards. That’s a total of $38.91 CAD.
**Brave Browser** – 3.94 BAT - $0.70 from ad rewards and 4.75 BAT from creator donations for a total of $6.08 CAD.
**LBRY** – 2,458 LBC - $0.036 CAD = $88.49 CAD from user earnings, content earnings, invites, etc.
**Hive** – 277.64 Hive - $0.5125 CAD = $142.29 CAD and 86.198 HBD - $1.25 = $107.75. That’s a total of $250.04 from post rewards.
**LeoFinance** – 56.837 LEO - $0.34 CAD = $19.32 CAD earned from post rewards.
**Cos.TV** – 711.53 COS - $0.0168 CAD = $11.95 CAD earned from post rewards.
**Read.Cash** – 0.1311 BCH - $688.46 CAD = $90.26 CAD earned from post rewards.
**Noise.Cash** – 0.045997 BCH - $688.46 CAD = $31.67 CAD earned from post rewards.
**Den.Social** – 39.87 MTR - $0.5 CAD = $19.94 CAD earned from post rewards.
**DTube** – 55.97 DTC - $0.80 CAD = $44.55 CAD earned from post rewards.
**Pocketnet** – 0.1 PKOIN - $16.54 = $1.65 CAD earned from post rewards.
**Yup** – 13.97 YUP - $0.65 = $9.08 CAD earned from post rewards.
**Blurt** – 131 BLURT – 0.00397 = $0.52 CAD earned from post rewards.
**YouTube** - $40.57 CAD earned from monetization.
**The grand total came to $653.04 CAD which is about $507.34 USD. **
*(Over $800+ CAD at today’s value as of writing this)*
### July Insights:
Crypto has been bearish but is now on the uptrend and I believe I will start to see the gains from this. My earnings from July have already appreciated about 20% in value as of writing this which highlights the importance of holding and approaching this with a long-term perspective. This is my 20th report and the more data I acquire, the better the results become. My top consistent earners lately are Hive, Read.Cash, Noise.Cash, Publish0x, & LBRY. My earnings are still way down, but I expect them to start to go up in the August report.
Hive has been performing much better lately with Hive earnings and HBD earnings on Hive which I’ve now begun to track separately. Hive made up the lion share of my earnings in July and I will be doubling down on those earnings by leasing my Hive power and earning passive income which I will report on in my investing report.
I am very excited and hopeful for the future with Torum’s token going live soon, Flote launching a token, Pocketnet evolving into Bastyon and launching many new features, there is much to look forward to. I will be interested to see the day when and if I can finally get access to my funds again on SoMee as well especially given they said they would have everything working again during the month of July, but here we are with no results.
Yup has been very interesting and while I haven’t earned a lot this month, in the next report you will see how I earned over $400 in August using YUP. My main gripe with Yup, Pocketnet, and DTube are that you end up spending huge gas fees to withdraw your tokens and it creates a huge barrier for low earners to exit. Also, with LBRY now requiring more verification to earn LBC, Hive seems to be the most decentralized platform to earn crypto now.
I’m including Blurt and Pocketnet in this report as I want to start tracking everything more closely and I’ve heard great things about both. I will prioritize these more and actively use and track my earnings on them. After 3 reports, if I don’t see better results though, I will drop them as I don’t want to waste your time with platforms earning me $1 a month or less.
***Disclaimer: None of what I share is financial advice and the cryptocurrency amounts & values shared may be simulate
What are your income goals? Are you using any of the platforms I shared above? Is this useful and or encouraging for you? Would you like to see these reports every single month to get a better insight into crypto social profitability? Let me know what you think about this in the comments below and don’t forget to subscribe!
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