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Bitcoin just dropped under 20k today. The ETH merge in mid-September has me a bit worried because I don't think PoS is as reliable as PoW. Proof of work is needed to validate transactions on the blockchain, and I feel that something bad may happen like the whole ETH blockchain collapsing from the merge, or a total pump & dump. I can see ETH going under 1k.

I've also been been reading a lot about ETH miners switching over to ETC (ETH Classic), Ravencoin and Ergo. They all seem a bit promising - especially ETC.

Bitcoin just dropped under 20k today. The ETH merge in mid-September has me a bit worried because I don't think PoS is as reliable as PoW. Proof of work is needed to validate transactions on the blockchain, and I feel that something bad may happen like the whole ETH blockchain collapsing from the merge, or a total pump & dump. I can see ETH going under 1k. I've also been been reading a lot about ETH miners switching over to ETC (ETH Classic), Ravencoin and Ergo. They all seem a bit promising - especially ETC.

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[–] • 1 pt

>As much as bitcoin is its own thing, it's still correlated to the markets, and as liquidity dries up, people will sell to make ends meet, pay down debt, or just to switch to cash to hedge against expected further market value decline.

I don't pretend to understand it, but it doesn't make sense. Isn't it big players making these big drops and rises? If they treat it as just another thing, vs an alternative, what is the point...