1/7 #Ethereum 2.0 is nothing more than the final step in creat | Jared Tate

1/7 #Ethereum 2.0 is nothing more than the final step in creation of "Big Crypto" running on Big Tech's infrastructure all owned by Big Bank's. $ETH 2.0 incentivizes users to hand over private keys to centralized exchanges to stake for them. Here is why: https://www.zerohedge.com/crypto/ethereum-20-merge-imminent-after-successful-test-will-lay-rest-energy-concerns

2/7 In order to stake $ETH & run your own validator you need to stake 32 ETH. Thats roughly $95,296 as of this writing. How many people can afford that? Or, you can join a shared staking service, which all big exchanges offer, so you can send them any amount to stake for you.

3/7 ETH 2.0 Beacon Chain is already showing mass centralization of 300,000+ supposed independent validators mostly run now by big exchanges. That "other 68%" mostly consists of Coinbase, Binance, Bitfinex & other exchanges, all conveniently left unnamed. https://beaconcha.in/charts/deposits_distribution

4/7 Once ETH 2.0 chain is merged with 1.0 not only will US Gov. be able to call up AWS or Google & shut down ETH anytime they want as an overwhelming majority of these validators run in the cloud on big tech infrastructure, so will natural disasters/wars. https://twitter.com/superphiz/status/1495397371466944523?s=20&t=T9ZhWb-2Lk9J6dA2zHcT5g

5/7 Even better, as a validator not only is there no way to get your ETH back until 2.0 is fully rolled out (if at all) but if your validator goes offline, you get punished. War starts? Power outage? Natural disaster? Server maintenance? = Get Slashed. https://launchpad.ethereum.org/en/overview

6/7 So with all the risk & up front cost, why not just let a centralized exchange running on AWS do it for you? Never mind the big banks who have made investments & now own most if not all the infrastructure that make all of this centralization possible. https://protos.com/consensys-lawsuit-jpmorgan-owns-critical-ethereum-infrastructure/
7/7 I am not saying the monetary incentives here won't work, & ETH 2.0 can't work to make more insiders rich, it will, for awhile, till true decentralization wins out. ETH was heavily premined & has been run like a Silicon Valley VC / Wall Street insiders cash cow since day one.