I posted earlier about the possibility of getting Bitcoin owners to swap their Bitcoins for Ethereum. It kinda got all over the place, so I (learning something from that post) want to rephrase the premise.
If half of Bitcoin owners went onto Coinbase right now and swapped their Bitcoin for Ethereum would that be a good or bad thing for Ethereum?
Is there no way that the leaders of Ethereum, or a third party could offer a 'bonus' for swapped Ethereum from Bitcoin owners that took the deal, say .50% for each 6 months you stake your converted, newly minted Ethereum, payable on day 1.
Vitalik Buterin comes down from the mountain offering a .50% bonus for swapped Bitcoin to Ether; then, that same money makes ~5% by being staked. So anyone swapping their Bitcoin for Ethereum gets a .50% bonus; plus ~5% interest once being staked and, once the Ether is unstaked gets a presumably higher value stash of Ether once the one year staking period is over. And for the bonus Ethereum gets the money needed to have a virtual shit ton of staked cash for the transition to Eth2.
The Ethereum, that was previously Bitcoin that's been swapped would be locked in as 'staked' for one year, to prevent people reselling their Ethereum just to get the swapping bonus again and again, with the added benefit of having a larger vault of staked Ether for the Eth2 transition.
What would Bitcoin do? Offer a bigger bonus for anyone swapping their new Ether back into Bitcoin? Can they do that? I know the money isn't in a vault somewhere like at a bank. I'm just saying that if a bank offered me .50% interest in my money if I deposit it, I'd jump at it. And if I tried to take the money out and reinvest it in the bank they would tell me, "No, you can't do that- you were here yesterday. Once only."
I guess I'm asking, is there a way to make that happen? Can Ethereum not do something that a Wells Fargo can do? Can the leaders of Ethereum implement a smart contract that somehow, using someone's money find a way to bribe Bitcoin owners to swap their money for Ethtereum? Or someone else? An internet group with the resources to make that happen?
Just a dream of Ethereum putting Bitcoin out of business. Because I like Ethereum and want to have the market cap of Ether and Bitcoin added together under the control (so to speak) of the Ethereum team. Who would take on cryptocurrencies with that kind of power?
Again, if half of Bitcoin owners went to Coinbase and swapped their Bitcoin for Ethereum (I did it), how would that be bad? I myself would not want to stake my money in Ethereum, since I'm convinced I'd make more just buying it right out. But plenty of people would stake for one year with a .50% bonus and a 5% APR for a year.
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