I spoke with someone a few days ago who has been holding ETH since 2016.

Despite his time in the market he admitted it is speculation and he doesn't really believe in ETH. He is just waiting for a big pump to exchange it for BTC.

This is the fate of all digitally allocated capital.

How long until the pre-mines capitulate?

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Shitcoinery will continue until people’s morality improves.

I mined a bit of ETH in 2017 and held and held until I realised that ETH is everything I don’t want in my world. Vitalik tells them what to do, centralised, no anonymity, now working with the feds and big tradfi. So I happily exchanged for BTC one day and have never looked back or regretted my decision.

Like any other shitcoin, it’s going to zero against btc. Once he realizes that he is losing the opportunity cost, he’ll capitulate