Now this will start to court controversy and when you mention the WEF, the old conspiracy theorist tag will be mentioned and the tinfoil hat tag will be pointed at anyone talking about them.
The fact that the WEF seem to be so ‘enthusiastic' about Ethereum since its went to a proof of stake could be deemed as suspicious. Now, this was touted as being to aid in the battle against climate change, hmm if you are in the know you will realize that this seems slightly unlikely.
Lets look at some reasons why the climate change argument is incorrect
Mining requires low cost electricity – so that rules out many western countries where prices have been artificially inflated for a long time
It actually generates far lower amounts of emissions than traditional financial business and even gold- see image below
Now we could go on, another article probably but this makes the change a bit more strange
Unlike Bitcoin’s proof of work system, which provides for robust decentralization and individual security, ETH is now set up so a select few “stakeholders” can determine the outcome of the entire system.
The dominant stakeholders can simply get together and manipulate the protocol as they see fit, can you see who these “stakeholders” might support or represent, see this tweet
ETH Infrastructure
Ethereum has long had dealings with the World Economic Forum and already relies on companies like JP Morgan and Amazon Web Services to secure its critical infrastructure.
Now if like me you look at those 2 names above and think – doesn't sound like a free speech, for the people and independent platform. BINGO.
AWS already has a history of ‘pulling the plug' on sites that rely on its infrastructure, take the Parler example which was effectively killed off when it was growing at the behest of Twitter. In a functioning society this would be illegal but in a corporate captured society its accepted and normal.
So what would prevent a government, global organization or corporation from ‘interfering' – not a lot to be honest.
The Bitcoin battle
Then we have the history of Bitcoin – its been loathed by the reserve banks, governments, investors and of course the climate change crowd. Its been called a scam, not real money and various other derogatory terms.
Now all of a sudden Ethereum which ticks a lot of the boxes above is the greatest thing since sliced bread and we have global organizations fawning over it – really.
For me I'm on the side of Bitcoin