The Verge
…On the Ethereum Merge & Mercury/Jupiter opposition
It just happened. What many have been calling the biggest event in crypto since Bitcoin’s inception, The Merge is done. Now, you may not care about this topic or have any idea about what it is, but I’ll do my best to make it relevant. And I’ll attempt to do so through the eyes of Mercury and Jupiter.
As you may be aware, Mercury is currently retrograde in Libra (7º today) and is applying towards an opposition to Jupiter in a few days’ time. This cardinal polarity is also occurring within degrees of the Nodal Axis for Ethereum (chart info below). Any contact with Jupiter will inflate the themes associated. And so we hear: “This is Eth’s BIG moment;” “This is huge for the future of crypto;” “This is a make or break moment for not just Ethereum, but for the entire space;” “This is the greatest blunder. Full stop..” Jupiter can also be guilty of over-exuberance, hype, and inflated ideas like “too big to fail.” Being it’s happening on the Nodes of the Moon for this blockchain trying to be the world’s “decentralized” supercomputer, is important to note. This is a massive plot twist in its tale.
One of the main reasons for the Merge is an ESG one. On paper, it’s something everyone with a conscience would get behind. It’s going to use 99.9% less energy than Proof-of-Work mining to reach consensus on-chain, thus Ethereum will become eco-groovy with Proof-of-Stake. As someone who cares deeply about the environment and supports taking as much power away from nefarious energy companies as possible, I would usually be an easy sell on a move like this. Unfortunately, Bitcoin has taught me much over the years, and one of the most important lessons is that Proof of Work is a feature, not a bug. It can help stabilize grids, utilize wasted energy produced in excess, and even incentivizes the evolution of cheaper, more renewable sources of energy. Yet, the lies are rampant around it. They are spread on purpose. It’s one of the only ways they can fight Bitcoin and other cryptos (like Eth used to be). But no longer for Ethereum. Eth is now ESG compliant and a darling of the state.
Fairness is a good idea to contemplate with Mercury on the scales. When we think of the 1% or the hidden tax of inflation, something enraged should awaken within. it’s not fair. How these structures that distribute the wealth and energy so unfairly can still be in existence, is baffling. It’s something worth fighting against, which invites Jupiter in Aries into the frame. From meditations of Libran fairness, the urge to act awakens in Aries. Part of that action for myself is writing this piece, even though most of you may not agree or have any idea what I’m talking about (Jupiter in Aries). From the way I see it, Proof of Stake, which is the consensus mechanism Ethereum now has transitioned to, is not fair. If over 60% of the supply is already in the hands of VC’s and powerful companies from pre-mine and other ways of accumulating the lion’s share of Eth, what does that mean for security and consensus? With the recent Tornado Cash debacle where the government threw a programmer in jail and blacklisted hundreds of Ethereum addresses, what does this mean for the future privacy and freedom of its users? By bowing down the “their” narrative, Ethereum seems to have compromised decentralization and safety. And as a longtime user of Ethereum, it’s a shame to learn that this also has zero effect on the fees, which makes Ethereum unusable most of the time.
I feel this story is a microcosm of a greater one at play. One that’s a monster cloaked in Greenpeace swag, trying to tell us what is right and not right in terms of the future of this planet. We are on the verge of something big. Perhaps Tesla’s ideas are going to make a return on the back of purple lightning or an impassable roadblock is met along the trip of turning everything electric. The topic is huge and so much can be learned between the lines. Perfect for this double retrograde opposition. As with everything, before you react, do your own research.
Proof of Work is fair
Proof of Stake is kinda fiat
*Note: I truly hope it all goes smoothly. My comments are more around the capture and compromise. One of the most important tenets of crypto is decentralization. And from the way I’m understanding the Merge, it will only centralize more and more over time. Seems like the same old system, just on a blockchain to me.
* Ethereum chart: 7.31.2015; 4:26 om; Geneva, Switzerland
Eudaimonia,
Adam
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