Ok so the eth folks can now technically unstake. But they can’t really unstake because the eth board of directors put a limit on how much can be unstaked at a time and the current backlog is a 2 week waiting period.

In other words, ETH is now acting as a custodial bank that has imposed withdrawal limits to protect itself from a bank run (which is currently happening).

Reply to this note

Please Login to reply.

Discussion

Ya I was reading about the unstake queue.. not sure if the numbers from coindesk or whatever are right but for sure all of kraken US customers kinda forced to withdrawal and that was a billion dollars... Not small.

shitcoin gonna shitcoin

At this point, eth is below a shitcoin. If you can’t even transact with the shitcoin is it even a coin? It’s just shit!

I mean you can at least throw literal shit. 🤷‍♂️

Indeed