Are there folks out there that have staked their ETH on Binance? AFAIK, you'll get ETH2 but it's on a locked period and the minimum was 2 years and I can't remember when it started.
Just like the other upgrades that we see in other projects or any forks, there's nothing much people have to worry about. Things are going to go automatically.
And if there's a forked coin then expect that there will be a massive sell-off for that by-product of the merge and the other one will remain to be the dominant one, the one that's being supported by the community.
Topic: Does Eth coin automatically become “Eth 2” after the merge? (Read 128 times)
I do agree with your statement. Basically, exchange site must have been waiting for the result from the fork and not creating so many announcements about supporting the fork which would not happen as well. Those exchange sites were making so many people become confusing about ethereum hardfork. That was also making so many people didn't understand about the main aim from the hardfork is not to generating the new coin but fixing the inflation in ethereum through using new consensus.
You got me right and you explain more on the reason why I posted this.
A lot of my friend have been asking me different kinds of questions which made me go online and search more anout the merge. Then I noticed that exchanges are just confusing people probably for liquidity sake.
that's what im thinking about. I have some friends were also asking the same thing like possibility for the fork to happen even some of them were feeling confusing where to store their ethereum during the fork. Exchange sites are always seeking the opportunity like this to attract people to trade their fork coin and increase the liquidity. Even some exchange sites have been introducing IOU for fork coin. That's shady.
The ETH coin doesn't automatically become ETH2. It will still be ETH. The merge only replaces the consensus proof used to distribute consensus voting power between consensus actors.
Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
yes there are many exchanges that confuse many people from this ETH merger, I think ETH is still ETH but it seems that many exchanges are taking advantage of other pairs such as ETHW and ETHS whether this is real ETH or not, but I stay away from this trade and wait ETH merging really worked Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
Ohh this is actually making more sense to me now after reading all the discussion above. I really thought POS would bring shit value to ETH since it would be dumped by thousands of mega ETH miners around the globe to profit themselves from dropping out of mining career. It seems they will have to switch to new coins and try to recover the investment at this point.
However, if they don’t sell and if ETH 2.0 overcomes the inflation problem of ETH with consensus approach then it’s best for the ETH in the long term holdings.
However, if they don’t sell and if ETH 2.0 overcomes the inflation problem of ETH with consensus approach then it’s best for the ETH in the long term holdings.
Just like Bitcoin Cash at that time, Bitcoin had two forks to lift the growth of bitcoin but, still Bitcoin is the one that stands out more than Bitcoin cash and now ETH is also following in Bitcoin's footsteps, is there a scheme that will be made in the future, or is there one? certain meanings regarding ETH, ETH2, ETCW, ETHS, what about ETH 2.0 has it been released, and what about the hefty gas costs in recent times..
Given the fact that the commission price is directly related to the network load and the cost of the main coin in this network, we can say for sure that if a fork takes place, the commission will be lower for those who are less in demand on the market. And we must remember that the merger does not solve the issue of the size of the commission, since it does not expand the network bandwidth.
The ETH coin doesn't automatically become ETH2. It will still be ETH. The merge only replaces the consensus proof used to distribute consensus voting power between consensus actors.
Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
There is nothing that is going to change, the supply will remain constant, the circulating supply will remain intact, only the network will be switched and this will be supported by other exchanges. I read that some exchanges may list some forked tokens, so if you have real Ethereum on your wallet, it is better you live them on your wallet because some exchanges will not support fork Ethereum.
There is no also ETH2, if there is, it would have been announced that all ETH holders should deposit their tokens into exchanges.
Ethereum's proof-of-work mechanism is what makes it a viable cryptocurrency. If I'm not mistaken As a result of the hard fork, ETH coin holders will get both new coins (bundled with ETH). The result of this is that the share of cryptocurrencies in the portfolio of multiple users will increase by one coin. As a result, we can witness an increase in the bulk purchases of ETH coins, and thus their value can grow. However, it is difficult to make predictions in this area, as other cryptocurrencies are still gaining momentum and accumulating more potential.
Just like Bitcoin Cash at that time, Bitcoin had two forks to lift the growth of bitcoin but, still Bitcoin is the one that stands out more than Bitcoin cash
At the end, people recognize what coin is the best to hold. Choose the main one, not fork ones.Quote
now ETH is also following in Bitcoin's footsteps, is there a scheme that will be made in the future, or is there one? certain meanings regarding ETH, ETH2, ETCW, ETHS, what about ETH 2.0 has it been released, and what about the hefty gas costs in recent times..
The intention of The Merge is to reduce energy cost, carbon footprint and green house gas emission from Ethereum Proof of Work mining. In addition, gas and transaction fee reductions are other objectives. However, will they solve these issues or not, we can not say now.If they succeed with their works, price will soar considerably but now during uncertain conditions, lot of fud, speculation and different thoughts that all affect the price of Ethereum negatively. The drop of Bitcoin has bad effect too.
I don't see any confusion, on every exchange website that supported a possible fork, everything is described in detail, you just need to read everything carefully. The fact that exchanges are introducing additional 2 tokens: ETHS и ETHW, only facilitates the trader's work, since anyone who wants to sell ETHW immediately will be able to do so in the first minutes immediately after a possible fork.
There will be no perfect agreement for any consensus so there will be one or two or more forks from ETH. ETH2, ETCW, ETHS or more are only names of forks. The strongest one will be the best one in price on the market.Years ago in 2017, BCH tried to claim to be BTC but after a few months of uncertainty, the community decided to stay with Bitcoin BTC and it gives BTC bigger value. Same will be for ETH and The Merge.
Just like Bitcoin Cash at that time, Bitcoin had two forks to lift the growth of bitcoin but, still Bitcoin is the one that stands out more than Bitcoin cash and now ETH is also following in Bitcoin's footsteps, is there a scheme that will be made in the future, or is there one? certain meanings regarding ETH, ETH2, ETCW, ETHS, what about ETH 2.0 has it been released, and what about the hefty gas costs in recent times..
I don't see any confusion, on every exchange website that supported a possible fork, everything is described in detail, you just need to read everything carefully. The fact that exchanges are introducing additional 2 tokens: ETHS и ETHW, only facilitates the trader's work, since anyone who wants to sell ETHW immediately will be able to do so in the first minutes immediately after a possible fork.
There will be no perfect agreement for any consensus so there will be one or two or more forks from ETH. ETH2, ETCW, ETHS or more are only names of forks. The strongest one will be the best one in price on the market.Years ago in 2017, BCH tried to claim to be BTC but after a few months of uncertainty, the community decided to stay with Bitcoin BTC and it gives BTC bigger value. Same will be for ETH and The Merge.
...Exchanges are just confusing listing different kinds of ETH.
I don't see any confusion, on every exchange website that supported a possible fork, everything is described in detail, you just need to read everything carefully. The fact that exchanges are introducing additional 2 tokens: ETHS и ETHW, only facilitates the trader's work, since anyone who wants to sell ETHW immediately will be able to do so in the first minutes immediately after a possible fork.
Some exchanges rush into this thing to get as many new users as possible and some of them just do not understand what is going on. Sometimes listing two pairs is necessary (Tokens changing their entire contract and wallets becoming 10x wealthier or poorer in tokens due to supply change et cetera), so I get why they would do this in that situation. They do it because in this case a transition is necessary. But remember exchanges are businesses, not Crypto geeks. They only want a profit.
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Regards,
PrivacyG
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Regards,
PrivacyG
I agree with you, exchange is a business, and everyone wants profit for you me and them, this is where you have to be careful in the exchange process, even though it makes new people in crypto world confused about this ethereum hard fork. but they did it only to fix inflation in ethereum through the use of new consensus.
Good luck together
I do agree with your statement. Basically, exchange site must have been waiting for the result from the fork and not creating so many announcements about supporting the fork which would not happen as well. Those exchange sites were making so many people become confusing about ethereum hardfork. That was also making so many people didn't understand about the main aim from the hardfork is not to generating the new coin but fixing the inflation in ethereum through using new consensus.
You got me right and you explain more on the reason why I posted this.
A lot of my friend have been asking me different kinds of questions which made me go online and search more anout the merge. Then I noticed that exchanges are just confusing people probably for liquidity sake.
Some exchanges rush into this thing to get as many new users as possible and some of them just do not understand what is going on. Sometimes listing two pairs is necessary (Tokens changing their entire contract and wallets becoming 10x wealthier or poorer in tokens due to supply change et cetera), so I get why they would do this in that situation. They do it because in this case a transition is necessary. But remember exchanges are businesses, not Crypto geeks. They only want a profit.
-
Regards,
PrivacyG
-
Regards,
PrivacyG
I do agree with your statement. Basically, exchange site must have been waiting for the result from the fork and not creating so many announcements about supporting the fork which would not happen as well. Those exchange sites were making so many people become confusing about ethereum hardfork. That was also making so many people didn't understand about the main aim from the hardfork is not to generating the new coin but fixing the inflation in ethereum through using new consensus.
The ETH coin doesn't automatically become ETH2. It will still be ETH. The merge only replaces the consensus proof used to distribute consensus voting power between consensus actors.
Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
Its wil still be ETH native token. So there is no ETH2 token.
Exchanges are just confusing listing different kinds of ETH.
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