Ethereum proof of stake | Bitcointalksearch.org

alani123

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Quote from: Robin,Hood on June 08, 2017, 10:20:33 AM

Begs the Question, are they still moving within a legal framework?

ICO happened with this

Quote

60 million + 12 million + 18million = ~90 million
60 million - is the Pre-sale.
12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.
~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS.

Now is already over 92 Million and now end in sight.

The nature of this was realized too late. There's no way to change things when consensus leads towards profitable mining. Ethereum devs know this perfectly well and likely can't even be held liable due to being unable to change things on their own.

tomaso88

newbie

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Quote from: Robin,Hood on June 08, 2017, 10:20:33 AM

Begs the Question, are they still moving within a legal framework?

ICO happened with this

Quote

60 million + 12 million + 18million = ~90 million
60 million - is the Pre-sale.
12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.
~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS.

Now is already over 92 Million and now end in sight.

far out i had no idea so many were from the ico that's insane

Robin,Hood

member

Activity: 462

Merit: 62

Begs the Question, are they still moving within a legal framework?

ICO happened with this

Quote

60 million + 12 million + 18million = ~90 million
60 million - is the Pre-sale.
12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.
~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS.

Now is already over 92 Million and now end in sight.

tomaso88

newbie

Activity: 22

Merit: 0

Quote from: metalbean on June 08, 2017, 09:40:09 AM

Quote from: tomaso88 on June 08, 2017, 09:35:52 AM

you actually have it wrong, it wouldn't be less transactions, a lot of ethereum would be locked up so there would be less big transactions but more smaller transactions, the market cap would go up insane because there's less supply, and less supply means higher demand. the problem with it is people can then just lock up their ethereum and get paid in pos and just sell their earnings from pos for ridiculously high prices so while the rich get richer for doing nothing the people actually using ethereum for smart contracts end up having to spend stupid amount of money and fees. while all the people that have their ethereum locked up have to do is sit on their greedy fat ass's while they get paid for doing nothing

Interesting hypothesis, any studies or solid observation to back this up?

It's my belief from studying how pos works and how ethereum plans on implementing it. Of course I'm always happy for people to have input if they think other wise for some reason. Not trying to act like a know it all this is just based on what i know.

metalbean

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Quote from: tomaso88 on June 08, 2017, 09:35:52 AM

you actually have it wrong, it wouldn't be less transactions, a lot of ethereum would be locked up so there would be less big transactions but more smaller transactions, the market cap would go up insane because there's less supply, and less supply means higher demand. the problem with it is people can then just lock up their ethereum and get paid in pos and just sell their earnings from pos for ridiculously high prices so while the rich get richer for doing nothing the people actually using ethereum for smart contracts end up having to spend stupid amount of money and fees. while all the people that have their ethereum locked up have to do is sit on their greedy fat ass's while they get paid for doing nothing

Interesting hypothesis, any studies or solid observation to back this up?

Red-Apple

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Quote from: n691309 on June 08, 2017, 07:30:30 AM

Quote from: Inicnat on June 08, 2017, 07:27:22 AM

When do you think Ethereum ia going tô become proof of stake?

First of all why should ethereum become POS, people are making good money by mining and still are investing in buying rigs. Im sure that some other coins will have a greater value!

it doesn't matter what people want in ethereum, it will switch to POS because the POW and the reward plan for it is seriously broken and the number of coins in circulation is increasing rapidly and apart from all the things you can read on that FAQ the plan was always to set the cap there.

tomaso88

newbie

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Quote from: HardFireMiner on June 08, 2017, 08:55:54 AM

Switching to POS will mean a lot for Ethereum, a lot of miners will just mine something else (ETC?). What this will give to Ethereum nobody knows, I can suppose less miners = less transactions, less transactions = less market cap, less market cap = less support walls, less support walls = crush of the price. Please note that I don't have a degree in economics, it is my humble opinion.

you actually have it wrong, it wouldn't be less transactions, a lot of ethereum would be locked up so there would be less big transactions but more smaller transactions, the market cap would go up insane because there's less supply, and less supply means higher demand. the problem with it is people can then just lock up their ethereum and get paid in pos and just sell their earnings from pos for ridiculously high prices so while the rich get richer for doing nothing the people actually using ethereum for smart contracts end up having to spend stupid amount of money and fees. while all the people that have their ethereum locked up have to do is sit on their greedy fat ass's while they get paid for doing nothing

HardFireMiner

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Switching to POS will mean a lot for Ethereum, a lot of miners will just mine something else (ETC?). What this will give to Ethereum nobody knows, I can suppose less miners = less transactions, less transactions = less market cap, less market cap = less support walls, less support walls = crush of the price. Please note that I don't have a degree in economics, it is my humble opinion.

Gunntha

newbie

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I´m a miner and I don´t like the POS idea at all

Lagduf

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Quote from: Inicnat on June 08, 2017, 07:27:22 AM

When do you think Ethereum ia going tô become proof of stake?

That means the ethereum can be manipulated by the whales. because the supply of the etehreum will be fixed supply. and that makes those whales can control the market through by a lot of the ethereum itself. It's not good in my opinion. but it looks good update on another perspective.

Emoclaw

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Quote from: n691309 on June 08, 2017, 07:30:30 AM

Quote from: Inicnat on June 08, 2017, 07:27:22 AM

When do you think Ethereum ia going tô become proof of stake?

First of all why should ethereum become POS, people are making good money by mining and still are investing in buying rigs. Im sure that some other coins will have a greater value!

It was announced that Ethereum would switch to Proof-of-Stake consensus at some point. The fact that people are making money mining it has nothing to do with anything.
It probably will happen, but there's no way of knowing when.

ZeroTheGreat

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Theoretical part greatly described here: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ

n691309

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Quote from: Inicnat on June 08, 2017, 07:27:22 AM

When do you think Ethereum ia going tô become proof of stake?

First of all why should ethereum become POS, people are making good money by mining and still are investing in buying rigs. Im sure that some other coins will have a greater value! If the miners go to zero meaning there will be no miner then I can assume that the number of transation will get decreased a lot, the price will be lowered as well and so the market cap of ethereum will be less meaning that another coin will rise.

Inicnat

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cryptocurrency enthusiast

When do you think Ethereum ia going tô become proof of stake?

Topic: Ethereum proof of stake (Read 892 times)