{discussion} Ethereum PoW Fork price dunks 50% not too long after launch

X-ray

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Quote from: YellowSwap on August 16, 2022, 11:34:34 AM

Stay away from these IOU forks because they are not the real coins, it's not safe to start buying or mine such coins, also what if something happened before the merge date and there is no need for those forks anymore.?

Im sure that old users of crypto known so well about that but not for newbies. IOU was a fake token or imagined token that issued by exchange site. This trend was exist since a few years ago likely around 2015. I guess those exchange sites can be considered as issuing the scam token. There's no need to say that if that would be a legit token caused by im sure the next fork will not create the new coin. Only those who are greedy will always try to speculate everything without doing any research about that.
Im sure that if those who bought such scam token will be scammed and losing their money.

vittosport

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The Merge upgrade, or the transition from proof-of-work (PoW) to proof-of-stake (PoS) consensus, is edging closer for Ethereum (ETH). Why is the Merger so crucial to the Web3 ecosystem as a whole and the Ethereum (ETH) blockchain? because The largest smart contract network will become more resource-efficient, inclusive, and ecologically benign as a result.

minairia3

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Chainlink and the Circle organization behind USDC have also announced that they will not support PoW forks and only support Ethereum PoS.
At the moment, investing in ETHPow tokens is a very risky , while if you prefer a POW version coin, we have a much better ETC on offer for you.
When the merger is over, I believe ETC will benefit the most from it, since all miners will either switch to ETC or close down their factories.

X-ray

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Just wanna know what's gonna happen when there would be no new coin from ethereum fork update. I meant exchange site must have compensated those who have been trading IOU. People who are trading IUO was taking very big risk.
I don't even know why people are still speculating that didn't even confirmed if that will be real coin. ETC is still exist in the market and there are still some coins with good volume that can be mined by miners.
It seems like that tron CEO was the only one who responsible for this IOU.

dansus021

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I think the transition from PoW to PoS is a good thing for the environment friendly people who don't like it maybe have dozen of mining rig that running and not yet BEP and as you can see that in my opinion the best mineable coin using hardware is only eth and btc .

and I just heard about coin called ETHPow rather than mining this I would recommended mining Ethereum Classic that have reputable and have better liquidity

TastyChillySauce00

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Becareful with it. As far as i know iou was a fake token. that's pump and dump token. It's purely a speculation token which is not even worthy to be bought even with some pennies. Miners have been investing in the ETC as an alternative to mine ethereum but dumb people keep trading this iou token which launched by exchange site which probably fake token. I hope that there would be no fork coin to come. it's only being a plague for crypto and its ecosystem.

Yogee

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Quote from: vEmpire.dDAO on August 16, 2022, 08:14:32 AM

The token was created as a way to keep the proof-of-work system alive, but it appears that most people are not interested in using it. This is likely because proof-of-stake is seen as a more efficient and secure system, and there is no need to keep the old system alive.

This is not about POW vs POS but about another money grab to me. There is already Ethereum Classic for those who really want to stay with POW algo. Yes they are not entirely the same but it's better than some newly created token with lots of promises but zero development.

Quote

What do you guys think is going to happen with Eth transitioning to PoS???

I'll just wait until the migration is over and read feedbacks from different users. Feel free to speculate on the price.

Bitcoin_Arena

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Just another one of those pump and dump fork coins except that this time round, its on an altcoin. I used to see so many of them fork from Bitcoin but where are they today?

I think Ethereum classic will do better than this new fork in the long run. In fact, I would rather mine and buy ETC than ETHW

Anonylz

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The market has not recovered yet, no investor wants to hold bags of IOU for long especially when they are not the real deal. It is not surprising people will sell quickly to take profit. Anyone buying this iou is who I feel sorry for, if they are unable to exchange to real token later will be a very huge mistake on their part.
I don't think it fizzles out just because the price gets dumped 50% as you described, the main purpose of the fork is what is most important and not the price iou is selling.

YellowSwap

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Stay away from these IOU forks because they are not the real coins, it's not safe to start buying or mine such coins, also what if something happened before the merge date and there is no need for those forks anymore.?

vEmpire.dDAO

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The ETHPoW (IOU) token, which was created in order to counter Ethereum’s future transition to proof-of-stake, has seen its price drop by over 50% in less than a week. This is likely due to the lack of support for the fork, as most people seem to be content with the proof-of-stake.

The token was created as a way to keep the proof-of-work system alive, but it appears that most people are not interested in using it. This is likely because proof-of-stake is seen as a more efficient and secure system, and there is no need to keep the old system alive.

The new ETHPoW project was supposed to be a big deal. But it quickly fizzled out, losing much of its value since its all-time high. So much for that!

What do you guys think is going to happen with Eth transitioning to PoS??? Huh

Topic: {discussion} Ethereum PoW Fork price dunks 50% not too long after launch (Read 131 times)