Ethereum is a Rube-Goldberg Machine. Bitcoin Tech Talk #250

Ethereum Twitter was in an uproar this week because the #eth hash tag appended an Ethiopia flag instead of the Ethereum symbol. This is most likely to allow tagging of Olympic results in a way that’s more engaging, but never mind that. To Ethereum enthusiasts, whom I call EthHeads, this was a travesty of justice! After all, the #Bitcoin and #BTC tags both append a Bitcoin symbol, so why are they being discriminated against?

What was interesting to me was that they saw this as a huge blow to their brand. They were less important than the country of Ethiopia and felt like Jack Dorsey was personally insulting them. This is all the more interesting because there are lots of other issues on Ethereum going right now. There’s the MEV stuff because of their pending move to proof-of-stake. There’s the large number of scams on DeFi. NFT winter is pretty much here and of course, ETH 2.0 is delayed again.