CHTA
CHEETAH ENTERPRISES INC. COMMON STOCK
stock OTC

2021 was the year of Crypto becoming mainstream. Billions of people were introduced to all aspects of the industry. Whether it be crypto mining, DeFi, the metaverse and NFTs. There were a lot of things that emerged in 2021. That year was tough year for everyone, with the pursuit of stopping the spread of COVID-19, many businesses bore the forefront of these effects. Even Apple, the 3rd largest US company by revenue, closed down all its stores in response to COVID-19. The uncertainty of that year attracted people to crypto. Bitcoin was worth less than $10,000 in June 2020 before skyrocketing to almost $70,000 in November 2021. Banks, normally against crypto, started buying crypto that year.
Purpose of Crypto
From the man himself, Satoshi Nakamoto wanted Bitcoin to be a currency that people can use on their own terms without interference from the government and large corporations. For this to happen, Satoshi intended that if people supported the blockchain, they would be rewarded in Bitcoin. This was true decentralisation at work, no one had too much control over Bitcoin. According to the Bitcoin developer, there are about 47,000 BTC nodes.
The Dark Side of Crypto
Whilst crypto brought along many exciting innovations to solve global issues, there have been many projects that stained the industry’s reputation. Rug Pulls, honeypots, sketchy influencers, rubbish NFTs gave crypto a ‘bad look’.
The problem with Proof of Stake
The whole Ethereum chain is ‘merging’ from a Proof-of-Work and Proof-of-Stake combination to purely Proof-of-Stake chain on September 15th 2022. Although the reasoning is noble; stopping climate change, lowering energy usage, and smart contract upgrades. The whole idea of crypto was to stop a few large institutions from controlling the financial system and to put it to the hands of the people. That is what Proof-of-Work did, it gave any 15 year old boy the opportunity to be a part of the Bitcoin network as long as he had a second hand laptop. Even now, if that 15 year old wants to mine Bitcoin now, he would need a few second hand ASICs, connect it to a mining pool, and receive a few dollars of Bitcoin everyday which would pile to a decent amount a year.
Proof-of-Stake on the other hand, ‘opens the gap’ further between the Joe Schmo enthusiast vs the Wall Street banking firm. It takes 32 ETH to run a validator node on the ETH network. That will take $56,000 to run a validator node at 4.1% yearly interest. All for $2,000 a year. You see how inaccessible it is for the average Joe Schmo? Before, he could have 4 RTX 3060Ti’s running in the background earning $200 a month on Ethereum mining. After the ‘merge’, Joe Schmo pooled together 2 ETH from his mining after 16 months. He puts it in a Staking Pool at 4.07% APR before fees. In one year, he would make $143 on staking assuming price is the same. A big downgrade from his mining rewards right?
Ok, time for some random Wall Street banking firm to have its shot in crypto. The firm buys let’s say 10,000 ETH @ $17 million. They then stake as a validator node at 4.1% APR. Then at the end of the year they get $700,000 in rewards assuming price is the same. See that divide? Joe gets $143 a year, big firm gets $700k. The rich gets richer, and the poor gets bread crumbs. It defeats the purpose of decentralisation when the little guy is left out and only the big guys are in. This makes it susceptible to large institutions taking control of the network and leaving the other person with less. In other words, PoS is not decentralised.
A Better Bitcoin
Cheetahcoin (CHTA) is Bitcoin but taken one step further in every single way. It is a Proof-of-Work coin with 2 minute block times, has enhanced security mechanisms against 51% attacks, max supply of 21 billion. Cheetahcoin can be protfitably mined on CPU, GPU, ASICs and Android Phones! Cheetahcoin is committed to global mobile decentralisation movement allowing billions of people with android devices to mine crypto easily and profitably. No institution can stop this movement of true decentralisation.
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text original written by honglu69 (dev of Cheetah/Nengcoin) at medium
in my opinion a must read.