The biggest mistake of Ethereum is abandoning the mining mechanism, allowing Ethereum to lose its cost anchoring. The biggest promoter during the GPU mining era was the GPU manufacturers; Jensen Huang turned GPUs into both unlocked and locked hash rate versions. The original gameplay was that Ethereum increased mining difficulty, the GPU manufacturers released new generations of GPUs, and then mining farms bought in bulk. The GPU manufacturers made profits selling GPUs at high prices, which they then used to buy Ethereum, driving up the coin price. Mining farms increased their mining profits and continued to buy high-priced GPUs, and then off-site institutions saw profits to be made and entered the market to buy Ethereum, causing the coin price to continue to rise. GPU vendors, developers, mining farms, and off-site institutions all made money!

Later, Vitalik and the developers did the math and found that the Ethereum ecosystem chain was surprisingly the most profitable for Jensen Huang, that developers were not making as much money as those selling GPUs, which was unacceptable. So I changed to a certification system with low energy consumption. The business in this world is most afraid of monopolizing profits; Jensen Huang saw that you wanted to monopolize, but I have a huge pile of Ethereum in hand. Anyway, GPUs can’t be sold, so I’ll play with you. You drive the price up, and I’ll sell off, so everyone sees clearly that whenever Ethereum has a strong rebound, there are large sell orders. The huge amount of Ethereum that Jensen Huang accumulated during the mining era has not been sold off yet. If Ethereum still wants to skyrocket, what kind of spring and autumn dream is that?

The low-energy ecosystem chain is the biggest mistake made by Vitalik. Tencent launched Q coins with even lower energy consumption. Tencent might as well launch a blockchain project; after all, Ma’s Q coins could be unified for use in Tencent games. Isn’t this a ready-made ecosystem that is also super low in energy consumption? High energy consumption and GPU mining are Ethereum’s moat. If Vitalik digs up the moat, then it becomes a copycat coin. Tencent quickly put Q coins on the blockchain to ensure Ethereum doesn’t die.