Decision To Switch Ethereum To Proof-Of-Stake May Have Been Based On Misleading Energy FUD

PoS Puts Ether In Regulators’ Crosshairs

But wait, there’s more. By converting to PoS, Ether risks being seen by U.S. regulators as a proof-of-security asset. Last Friday, the White House published its first-ever crypto regulatory framework, just a day after the Merge was completed.

DNA Of Volatility

Energy FUD Contributed To Decision To Transition To PoS

If everything I’ve said up until this point is the case, why did Ethereum decisionmakers choose to switch to PoS in the first place? Simply put, they folded under pressure from misleading charges that crypto mining, particularly BTC mining, consumes too much energy and is bad for the environment.

Surprise! Gold Is Still One Of The Best Performing Assets Of 2022

Switching gears, I want to say a few words on gold. BTC’s analogue cousin hit its lowest price since 2020 last week even as inflation remains near 40-year highs and recession fears persist. As I write this, the yellow metal is trading at around $1,666 an ounce, approximately 19% off its peak in March this year.

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Frank Holmes

Frank Holmes

Frank Holmes is the CEO and chief investment officer of U.S. Global Investors, an innovative investment manager with vast experience in global markets.