I emailed in a similar question about Eth 2 and them leaving POW behind. No response. So far, I think the main discussion goes something like: it's been many years Ethereum has been attempting to solve this problem without real results. There have been many false positives and many missed deadlines. This deadline is already way late and comes with a lot of hype and hope, riding on the capes of the wizards of Palo Alto. NFTs are selling for fortunes. Tweets, too. Seems a bit excessive, don't you think?
But the bigger question is what if it doesn't work? That's the $64,000 question. If Eth 2 doesn't work, and the fees keep stacking up to ridiculous amounts, then Hive may turn into a rocket ship. But if that happens, it's difficult to understand how Ethereum would stay standing. And if Ethereum falls, look out below. We would likely be facing another buying opportunity.
Regarding Hive, I suggest Frank Holmes would swat away the problem as if were one of those Canadian mosquitos which can penetrate denim. Hive would reprogram its many miners to another purpose and follow the blockchain which would live on.
Defi has made a large bet and it's unclear to me if they're playing with or without a net. Regardless, I don't see it being the end of bitcoin or crypto, but it might be the end of an early part of the crypto era. In the late 1990s, way more than half of all internet companies died on the electronic vine.
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