Ethereum's biggest blunder! Abandoning mining causes the moat to collapse, and Old Huang is holding a massive amount of coins waiting for you to rebound and harvest the韭菜!

Ethereum's abandonment of GPU mining is its fatal mistake! During the GPU mining era, the biggest beneficiaries were not the developers, but the GPU manufacturers—Old Huang made a fortune through external unlocking and restricted hash rate GPUs.

The original model was for GPU manufacturers to promote new graphics cards, mining farms to purchase in bulk, and Old Huang to sell high-priced graphics cards, using the profits to buy Ethereum and drive up the coin price; miners earned more from mining, continued to increase their GPU holdings, and off-market institutions saw profits flowing in, causing Ethereum's price to soar—this was a complete profit closed loop where GPU manufacturers, developers, mining farms, and institutions all made money!

Seeing that GPU sellers were making more than developers, Vitalik immediately changed to a low-energy consumption certification system, kicking out the GPU manufacturers, resulting in Old Huang's dissatisfaction—he is holding a large amount of Ethereum, waiting for you to rebound so he can dump it. Therefore, every time Ethereum shows a slight improvement, large sell orders come crashing down, which is Old Huang clearing his inventory!

More critically, Vitalik's low-energy transformation has actually dug away Ethereum's moat! If Tencent were to put Q coins on the blockchain and unify their use in their own games, that would be a truly low-cost super ecological chain! In comparison, today's Ethereum is nothing but an empty shell.

Abandoning mining is equivalent to abandoning the moat! Vitalik's move here is truly a misstep.