Sunday, December 4, 2022
 

Robert Leshner Shares Pearls of Wisdom Before ETH Merge

  • Robert Leshner took to Twitter to give guidance to the Ethereum community before the long-awaited Merge.
  • Leshner also warned the community to not leverage too much or  to take on too much risk.
  • He tells the audience “to do nothing”, if they do not know what to do after the Merge.

Today, co-founder of Compound Finance Robert Leshner, took to Twitter to give some guidance to the Ethereum community before the long-awaited Merge. Although this is a very meaningful moment for Ethereum fans, Leshner urged users to still be very careful.

One of the first pearls of wisdom he shared with the community is to be very cautious of scams and scammers. He stated that in times of uncertainty, “people tend to question things less”. Leshner urged people to not trust blindly and to be cautious about what they read, sign and click.

Leshner also warned the community to not leverage too much or  to take on too much risks. He also stated that people should not “do something stupid” with their portfolios and that it will not be beneficial to get caught up in the mania.

Leshner continued by urging people to make sure their assets are custodied safely. This could be done on an exchange that you already trust or on a hardware wallet that you control. He also stated that it is now the perfect time to start thinking about security.

Leshner also mentioned the possibility of an Ethereum fork and stated that every stablecoin and DeFi application on the fork will likely fail almost immediately.

He continued this argument by asking people to be very careful when signing transactions on a fork chain. Leshner stated that “you have one private key that works on both chains, and a miner could potentially replay a transaction on Ethereum”.

Leshner concluded his Twitter post by saying that if you do not know what to do after the Merge, it will be better to do nothing.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.

  • Robert Leshner took to Twitter to give guidance to the Ethereum community before the long-awaited Merge.
  • Leshner also warned the community to not leverage too much or  to take on too much risk.
  • He tells the audience “to do nothing”, if they do not know what to do after the Merge.

Today, co-founder of Compound Finance Robert Leshner, took to Twitter to give some guidance to the Ethereum community before the long-awaited Merge. Although this is a very meaningful moment for Ethereum fans, Leshner urged users to still be very careful.

One of the first pearls of wisdom he shared with the community is to be very cautious of scams and scammers. He stated that in times of uncertainty, “people tend to question things less”. Leshner urged people to not trust blindly and to be cautious about what they read, sign and click.

Leshner also warned the community to not leverage too much or  to take on too much risks. He also stated that people should not “do something stupid” with their portfolios and that it will not be beneficial to get caught up in the mania.

Leshner continued by urging people to make sure their assets are custodied safely. This could be done on an exchange that you already trust or on a hardware wallet that you control. He also stated that it is now the perfect time to start thinking about security.

Leshner also mentioned the possibility of an Ethereum fork and stated that every stablecoin and DeFi application on the fork will likely fail almost immediately.

He continued this argument by asking people to be very careful when signing transactions on a fork chain. Leshner stated that “you have one private key that works on both chains, and a miner could potentially replay a transaction on Ethereum”.

Leshner concluded his Twitter post by saying that if you do not know what to do after the Merge, it will be better to do nothing.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.

 

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