You are comparing it to PoS. The cost to run a node is minuscule compared to the opportunity cost of staking ETH (or insert alt here) and yield decreasing.

What happens to eth when the price crashes and people stop staking?

This may be a discussion more understood in a few years and I don't really have an interest in a tribal fight between eth and btc. It's been played out for a decade online and it's tiresome. I have both assets.

However to address this very specific risk factor with btc.

The btc narrative is store of value/digital gold.

To maintain its value it needs 1. Buying pressure 2. Increasing hashrate and 3 transactions.


The limited supply benefit fails if people dump. So it's imperative to maintain or increase buying pressure. So if miners start exiting like the tweet inferred we will see sell pressure increase. If enough people will lose value and we could turn bearish.

Another aspect is btcs price/value is directly tied to the hashrate. If it goes down because miners exit the value of the network goes down and "store of value" becomes impacted.

And third and most importantly over the next halving or two miners revenue may take such a hit they can't mine anymore. Typically after revenue has been cut in half price has more than doubled etc. but if that fails to happen miners will be at a massive loss.

So to offset it the idea had always been transaction costs will cover the difference. But if you pull up a TX chart of the btc network it's drastically falling off. Maybe not a big deal this cycle but it will be a massive point of discussion in a few years.

And so if your a mining company with a fat stack of btc today. Do you keep going or dump and exit stage left? Some are exiting.

This is tom lees main nuanced point about ETH and his overall strategy. He's building BMNR to be sold. Like you said to secure the eth network requires staking. So he thinks a company like JPM or Amazon one day will want to insure they're participating in ethereums security and will want a staked eth position. And likely pay for an existing one. Ala BMNR.

Yukon Cornelius said:

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This is tom lees main nuanced point about ETH and his overall strategy. He's building BMNR to be sold. Like you said to secure the eth network requires staking. So he thinks a company like JPM or Amazon one day will want to insure they're participating in ethereums security and will want a staked eth position. And likely pay for an existing one. Ala BMNR.

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I hold both as well, along with investing in BMNR. I don't see it as a competition. Neither does Tom Lee.

I just think the whole "flippening" and BTC is dead storyline is dumb. ETH won't surpass BTC in market cap, but ETH will be used in a ton of discreet use cases that upend traditional finance. It's exciting stuff.

Double Oaked said:

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Yukon Cornelius said:

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This is tom lees main nuanced point about ETH and his overall strategy. He's building BMNR to be sold. Like you said to secure the eth network requires staking. So he thinks a company like JPM or Amazon one day will want to insure they're participating in ethereums security and will want a staked eth position. And likely pay for an existing one. Ala BMNR.

---

I hold both as well, along with investing in BMNR. I don't see it as a competition. Neither does Tom Lee.

I just think the whole "flippening" and BTC is dead storyline is dumb. ETH won't surpass BTC in market cap, but ETH will be used in a ton of discreet use cases that upend traditional finance. It's exciting stuff.

---

ETH is such a cluster F though. It's not going to be trustworthy/reliable enough to replace traditional finance. Cardano will, IMO.

Wood

Thunderstruck xx said:

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Double Oaked said:

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Yukon Cornelius said:

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This is tom lees main nuanced point about ETH and his overall strategy. He's building BMNR to be sold. Like you said to secure the eth network requires staking. So he thinks a company like JPM or Amazon one day will want to insure they're participating in ethereums security and will want a staked eth position. And likely pay for an existing one. Ala BMNR.

---

I hold both as well, along with investing in BMNR. I don't see it as a competition. Neither does Tom Lee.

I just think the whole "flippening" and BTC is dead storyline is dumb. ETH won't surpass BTC in market cap, but ETH will be used in a ton of discreet use cases that upend traditional finance. It's exciting stuff.

---

ETH is such a cluster F though. It's not going to be trustworthy/reliable enough to replace traditional finance. Cardano will, IMO.

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Part of Tom Lee's pitch on ethereum is continued work on its flaws

Heads up. Another ETH aggregator, besides BMNR and SBET, is BTCS. It doesn't have the amounts of the first two but also available at $5.48 per share.

https://www.coindesk.com/business/2025/07/28/finance-firm-mill-city-ventures-to-buy-usd441m-in-sui-tokens-pivoting-to-blockchain-treasury-strategy

MaroonStain said:

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Heads up. Another ETH aggregator, besides BMNR and SBET, is BTCS. It doesn't have the amounts of the first two but also available at $5.48 per share.

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I noticed that. Also noticed BTBT is doing the ETH treasury thing. It's in the $3 range at the moment.

jamey said:

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Thunderstruck xx said:

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Double Oaked said:

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Yukon Cornelius said:

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This is tom lees main nuanced point about ETH and his overall strategy. He's building BMNR to be sold. Like you said to secure the eth network requires staking. So he thinks a company like JPM or Amazon one day will want to insure they're participating in ethereums security and will want a staked eth position. And likely pay for an existing one. Ala BMNR.

---

I hold both as well, along with investing in BMNR. I don't see it as a competition. Neither does Tom Lee.

I just think the whole "flippening" and BTC is dead storyline is dumb. ETH won't surpass BTC in market cap, but ETH will be used in a ton of discreet use cases that upend traditional finance. It's exciting stuff.

---

ETH is such a cluster F though. It's not going to be trustworthy/reliable enough to replace traditional finance. Cardano will, IMO.

---

Part of Tom Lee's pitch on ethereum is continued work on its flaws

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I don't think some of ETH's flaws are fixable.

As in?

🧵
1/18

Bitmine just posted its first presentation titled
"the Alchemy of 5%" 🧙🪄

...keep reading 📕 pic.twitter.com/5HMrMr4mUw

— Bitmine BMNR (@BitMNR) July 28, 2025

ETH undervalued value = $60,000 with long-term WAG of $704,000 per.

Insert JLaw OK giphy

MaroonStain said:

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Wood

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Wood… like to delegate my ADA to her stake pool.

Damnit

https://x.com/broke***222/status/1949945828749299916?s=19

jamey said:

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Damnit

https://x.com/broke***222/status/1949945828749299916?s=19

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Edit
This was a person asking grok what this was and grok said risky dilution. Somehow thr grok response was deleted

$BMNR just put out this filing

Who wants to explain exactly what’s happening here beyond just dilution to buy Ethereum pic.twitter.com/x0w7I9Lpyo

— Evan (@StockMKTNewz) July 28, 2025

The amount of DATs that will be hitting the market over the next month is unimaginable. Never seen anything like this.

Many, many retail investors are going to get destroyed. Talking to some of the funds that are actively participating in the PIPEs, and they aren't even sure they will be profitable by the time they get liquidity. April and May were the time to play with these. The market has since smartened up.

It won't be long before one or more begins trading at a discount to mNAV and said company will move to liquidate the treasury for buybacks to get rid of the discount, causing the treasury assets in other DATs to decline in value. If you're in one of these and it's trading at a large premium, you might want to consider exiting before the PIPE shares become freely tradable. The investors are there to collect the premium as free money and have no desire to hold these long-term.

jamey said:

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jamey said:

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Damnit

https://x.com/broke***222/status/1949945828749299916?s=19

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Edit
This was a person asking grok what this was and grok said risky dilution. Somehow thr grok response was deleted

$BMNR just put out this filing

Who wants to explain exactly what’s happening here beyond just dilution to buy Ethereum pic.twitter.com/x0w7I9Lpyo

— Evan (@StockMKTNewz) July 28, 2025

---

See above.

Unless you understand all of the mechanics at play with these, you're so much better off buying spot crypto.

SBET, DFDV, BTCS AND BTMR are going "down down down" in after hours trading (from old commercial for game Chutes and Ladders).

Let's see what happens after their next earning reports. Great opportunity right now.

Made some decent gains on FET, but that pattern turned sour after I got stopped. Not it has to hold $0.65-$0.70 or else I think this pattern plays outs. $0.49-$0.52 might be a helluva buy zone though with that $1.40 I've been wanting on deck.

This is ETH's problem. Their issuance schedule (monetary policy) is a joke. Switching to PoS was so reactionary and short-sighted and just made everything worse. You can probably make money off it for a while but for god's sake don't marry your bags

I have small amount of SBET and bought more this afternoon. None in the others until wait and see flushes out the posers (LOL).

Not accurate and not what the conversation was even about.

People were discussing ETH price predictions and potential flaws on this page of this thread. My comment is absolutely relevant even if you don't like it. I would love to know which part is inaccurate though.

Thought it was in regency to publicly traded companies buying eth. My mistake.

The comment is inaccurate in regards to proof of staking and its issuance being problematic.

1. Eth issuance has been less than btc.
2. Btc issuance gets dumped by miners to cover costs Eth gets restaked.

It's only recency bias that has people saying Eth is bad and PoS was a mistake.

Not where I can post a chart but I'll get you one later.

In the meantime, what is the most successful PoS crypto vs BTC?

I guess I don't understand the whole VS thing. I think both systems can be very successful. It's a big world.

My point is that If your denominator is USD some PoS coins appear to do pretty good for a while, that's why people still buy them. But if you've figured out USD is a ****coin and your denominator is BTC, it's usually not pretty.

Looking at charts and calculating the opportunity cost of being in ETH, SOL, ADA etc. instead of BTC is not fun but it's still a very good idea.

Btc is still extremely speculative and the idea it goes up forever isn't proven. A lot of recency bias at play IMO.

Not sure I follow. Of course Bitcoin is risky, that's half the fun. But alts only exist because Bitcoin does. If BTC somehow fails, every one of them does as well.

Not necessarily true. It's about users. Btc transactions have fallen off a cliff. Eth and solana have gone up.

I enjoy these conversations, I just think it's important to understand reality. There are definitely those who think btc will become the world reserve currency. That's great. However. The money, the ETF buyers are trying to make money. They will dump even faster than they bought when the time comes.