I'm all for healthy skepticism, but you are far from it.
> There's a lot more wealth concentration on the blockchain
First, with Ethereum you need 67% of the staked ETH to make an attack on the network.
Second, stakers do not have power to change consensus rules. They are not able to dictate how people transact (not without losing their take) and they are not able to change transactions.
Third, do you understand that even if one single entity had that much power to launch an attack of the network, it would not be in their interest to do so? If the network got to be controlled by any single entity, the other people would simply lose confidence on it, they would stop using it and then all of the staked token would lose its value.
> Third, do you understand that even if one single entity had that much power to launch an attack of the network, it would not be in their interest to do so?
If that were true, then why was the Ethereum network attacked and forked last month?
I think what's happening here is that you've confusing "blockchain consensus" with "not evil", because you trust the giant faceless organization making decisions about the future of your activity in their system to act in something approximating your personal interests.
Just like people trust Google and Microsoft with their email. Get it now?
As to which entities are "really" more trustworthy, I'll just drop this link and flee: https://web3isgoinggreat.com/
What attack are you referring about? What fork are you talking about?
Please, provide actual information instead of throwing around sites that are clearly just helping you to confirm your biases.
> you've (sic) confusing "blockchain consensus" with "not evil" because you trust the giant faceless organization making decisions
Not really. The thing that I care about is self-sovereignty. I do not want to depend on a system where any single entity or institution (whether is a big corporation or a government) can have this type of control over me and that leave without choice.
But it seems that it doesn't really matter what I think though, you already have made your mind and you are not interested in a healthy discussion. Have a good one.
> What?! What attack are you referring about? What fork are you talking about?
Wait, really? On September 15th, someone attacked the Ethereum blockchain and stole all the value, handing it off to this other coin. Our coins are still there, but per current markets they're only worth 0.47% of the value they should have. I can't believe you missed that.
Now, obviously you think that's different. And that this giant act of fiat by a centralized operating body was a GOOD act of fiat by a centralized operating body. But it was still a giant act of fiat by a centralized operating body, which points out that the kind of "self-sovereignty" you believe in doesn't exist. You are and will always remain solvent at the whim of the people running the economy you're part of. That's simply the truth.
The difference is that you trust the ETH cabal where you don't trust email providers. And I think that's misplaced.
There was no "giant act of fiat". The merge only happened because the overwhelming majority of participants were in full support of such a change. At no single point of time, the ETH developers had any way to decree that the beacon chain was the only one that had any value.
> That's simply the truth.
Thank you though for finally showing that you are just full of dishonest rhetoric.
Explain how "government by the overwhelming majority" is consistent with "self-sovereignty"? Some people didn't want the merge to happen. It happened anyway. What about their "self-sovereignty"?
Again, you're just saying that you thought this fork was a good fork. And for the record: I agree, it was a good fork. But it was still a fork, and thus still a successful attack on the network. Someday, one of those attacks might be on your interests.
And your answer will be that you TRUST that it won't. But that is still an act of TRUST and not "sovereignty". If they want to steal your coins, they can. They've proved it multiple times.
So, getting back to the point this topic is about: does it really seem so odd that people trust Gmail? You have to trust people in this world to not mess up your stuff.
You really think that any of this BS rhetoric is flying?
> What about their "self-sovereignty"?
Self-sovereignty is not about "always getting things my way". Is about being able to participate in a system without having some higher authority controlling access.
> successful attack on the network.
A "successful" attack is when someone manages to subvert the system to do something for their personal favor. The system was not subverted. for the merge to happen, the rules had to be defined and followed by everyone. Fuck, the reason that the merge was postponed so many times is because they wanted to have SIX different clients that could reliably participate in the beacon chain.
> If they want to steal your coins, they can.
No one stole anything. The old ETH PoW chain is still there. No one's balances got altered. The fact that most people started seeing that as worthless was not "by fiat".
Who?! Give it a name, or set of names.
I'm all for healthy skepticism, but you are far from it.
> There's a lot more wealth concentration on the blockchain
First, with Ethereum you need 67% of the staked ETH to make an attack on the network.
Second, stakers do not have power to change consensus rules. They are not able to dictate how people transact (not without losing their take) and they are not able to change transactions.
Third, do you understand that even if one single entity had that much power to launch an attack of the network, it would not be in their interest to do so? If the network got to be controlled by any single entity, the other people would simply lose confidence on it, they would stop using it and then all of the staked token would lose its value.