The countdown to the Ethereum merger is two days! Why shouldn't ETHW be sold?

Only 2 days left until the Ethereum merger. ETH will fork, that's a fact. Everyone will have ETH and ETHW in their wallets. Can ETHW be sold?

Short answer: yes.

Longer answer: it's just an unnecessary risk and probably not worth it.

This article will tell you how, and why you should not sell ETHW. bordel.wtf predicts that the Ethereum merger will happen on September 15th. Some other sites say the merger will happen on September 14th! The Ethereum Foundation created a Merge Live on Youtube: http://youtube.com/watch?v=Nx-jYgI0QVI…

This is an important milestone.

The Ethereum chain will split. Ethereum will continue to function normally on POS, while miners will fork and create ETHW. Then what happens?

1. The entire blockchain has two identical situations

2. All ETH, tokens and transactions exist in POS and POW

3. All DeFi positions exist in POS and POW

On the POW chain, all assets except ETHW will tend to 0 faster than we think. The only place to get real value from ETHW will be CEX, since anything on the proof-of-work chain will be worthless. The same is true for ETHW, which will soon return to zero. The promotion of ETHW by miners does not seem to be a good thing. They plan to update the chainid after the merge happens (to prevent replay attacks). This is not a good sign. Coinbase asked the team behind EthereumPoW to clarify exactly what they intend to do.

A replay attack is when you broadcast a transaction on one chain and someone (most likely a bot) broadcasts it for you on another chain, effectively mirroring the operation. Say you send 100 ETHW to Poloniex to sell, a bot can send your 100 real ETH on mainnet to the same Poloniex address. In this particular example, the funds may not be lost forever (since Poloniex holds all the keys), but there is likely to be confusion and uncertainty, distracting attention from the important milestone accomplished that day - the Ethereum merger . I would 100% stay away from ETH POW.

If you insist, there are a few things you can do to prevent replay attacks in case the chainid is the same.

1. Running out of nonces

Make risk-free transactions (e.g. send yourself 0 ETH) at POS (post-merge) to increase your nonce. (In order to prevent repeated transactions, Ethereum requires each transaction to have a nonce value. The nonce value increases from 0, and each time a transaction is sent, the nonce is increased by 1. Only after the previous transaction with a smaller nonce value is processed is completed. Transactions with larger nonce values will be processed later.)

You can now operate in POW with no risk of replay.

Important: By monitoring etherscanW, make sure the robot is not mirroring your first transaction from POS to POW.

2. Move your assets/ETH

After merging, send the ETH on POS from your main wallet to a second wallet you control.

Now you send your ETHW to Poloniex to sell. If someone tries to replay this transaction on the POS, the transaction will fail because you have previously moved it to the second wallet.

There is also leverage play: borrow ETH before the merger, and repay the loan immediately after the merger occurs.

Aave has suspended the ETH market and cannot borrow ETH now.

Two places you can borrow ETH are Compound Finance (5% APY) and Euler Finance (~10% APY).

For ETHW to preserve its value, someone has to buy it, probably on a CEX: don't be one of those who do this, you'll be sold off instantly. This is psychological warfare.

If you want to sell ETHW: I would consider not participating in the proof-of-work chain at all.

ETHW futures are trading at $18 on Bitmex .

This is the value that the market thinks ETHW will have. When the sell-off starts, it only goes down from there.

It's not worth it unless you're a whale.