after swithing to POS we will lose momentum on Ethereum. need sometime to POS miners jump in for ETH.
I am planning to stop mining and investing on ETH until POS dump.
Topic: Ethereum without miners? What do you think? (Read 1158 times)
Ethereum as a non-mineable coin is a green coin because it saves a lot of power and hardware expenses, mining hardware had an obsolescence cycle of six month which in turn dumping another electronic hardware to the ground that contributes hazards to environment and also taking a lot of waste of energy source from mining is not a good idea why not redistribute the power source to other community like street lighting. if no miners in an Ethereum ecosystem it can save a lot of megawatts of electricity, Mr. Buterin was a good visionary for his Ethereum he saves the mother earth.
I think you don't understand PoW very well, buddy. There is not such a thing as waste of electricity. It's actually being used to make the network safe, and prevent attacks.He does, he is saying POS does the same thing which is processing blocks and keeping the network secure but without using all the power from POW
Ethereum as a non-mineable coin is a green coin because it saves a lot of power and hardware expenses, mining hardware had an obsolescence cycle of six month which in turn dumping another electronic hardware to the ground that contributes hazards to environment and also taking a lot of waste of energy source from mining is not a good idea why not redistribute the power source to other community like street lighting. if no miners in an Ethereum ecosystem it can save a lot of megawatts of electricity, Mr. Buterin was a good visionary for his Ethereum he saves the mother earth.
I think you don't understand PoW very well, buddy. There is not such a thing as waste of electricity. It's actually being used to make the network safe, and prevent attacks.He does, he is saying POS does the same thing which is processing blocks and keeping the network secure but without using all the power from POW
If it's this magical thing, why it has not started as a PoS coin?
Oh don't worry it will, staking that premine is what they want.
one of the main reasons for ethereum popularity was the mining and how profitable it was when they pumped it to the moon. a lot of people got rich from it out of nowhere.
when they kill miners, they will leave a lot of people very angry who will dump the coin.
and on top of that, changing to PoS is a tactic that the ethereum foundation is performing to earn more free money easily without doing anything. that was always their plan. everyone knows they hold the most amount of ethereum and they have it because of the premine!
when they kill miners, they will leave a lot of people very angry who will dump the coin.
and on top of that, changing to PoS is a tactic that the ethereum foundation is performing to earn more free money easily without doing anything. that was always their plan. everyone knows they hold the most amount of ethereum and they have it because of the premine!
If it's this magical thing, why it has not started as a PoS coin?
Ethereum as a non-mineable coin is a green coin because it saves a lot of power and hardware expenses, mining hardware had an obsolescence cycle of six month which in turn dumping another electronic hardware to the ground that contributes hazards to environment and also taking a lot of waste of energy source from mining is not a good idea why not redistribute the power source to other community like street lighting. if no miners in an Ethereum ecosystem it can save a lot of megawatts of electricity, Mr. Buterin was a good visionary for his Ethereum he saves the mother earth.
I think you don't understand PoW very well, buddy. There is not such a thing as waste of electricity. It's actually being used to make the network safe, and prevent attacks. 
POS is coming out and all GPU farms will mine other altcoins. so looking for nice pow altcoins to mine from today.
my finger is on the button.
my finger is on the button.
the blockchain system as having with the chance on gains as offering with the extent on extraction as developer of service to work on focus with the
disputes as displacing lodge with the nodes on chains as the use of systematical frames of field with the network of the service clients disposition of
funds
to improves with the works of further as examination to enhance the moderation of the service as helps on relation between clients and the colateration
with the distro of the developer.
disputes as displacing lodge with the nodes on chains as the use of systematical frames of field with the network of the service clients disposition of
funds
to improves with the works of further as examination to enhance the moderation of the service as helps on relation between clients and the colateration
with the distro of the developer.
Without miners possibly ETH will be different from the other coins. And this uniqueness it will have will bring more demand in ETH I think. Hopefully it will increase ETH value, and Hopefully it won't start doubling illegal activity around. But the idea of having a coin without miners is something great.
There are coins that have no miners also so what is ETH being different to other coins? PoS had been around for some years so it is not a news to have such feature. I cannot find any uniqueness of ETH except of a central authority that can fork its subject anytime they wanted
. 
I thought eth was going to pos in September. But honestly they change so often, it is very confusing and makes me leery about investing in them.
PoS for Ethereum is rolling out slowly. At first only every other block will be mined using PoS.
So what to expect from the market, another dump?
definitely the blockchain freeze without mining power read more about mining to know that more miners secure the blockchain of any coin so eth will die without miners but that is not possible soon with the current price of eth .
so result is miners are needed.infact they are driving transaction fees high thou
definitely the blockchain freeze without mining power read more about mining to know that more miners secure the blockchain of any coin so eth will die without miners but that is not possible soon with the current price of eth .
Since the source code of Geth is public domain, what about doing a version of ETH without the bloody miners.
If ETH want to become a maintream currency, why keeping mining? Mining is meant to mimic the GOLD currency, having miners and limited supply.
But if you want to do something that compete with the USD you need to mine on demand, like the banks are doing. When a node is necessary, you create it, then the supply always matches the demand, transactions can be done instantly without waiting a block, without paying expensive gas. That would work as a replacement currency for every day use.
And also why everyone need to download full node? Wallets should only download the latests transactions (1 week for example). Then people who want to contribute to the currency could host part of the full node (nobody could host all, to avoid what is happening with BTC and BCC). Gas would be used to reward these stockages wallet that would be like the pillars of the currency and they would make money by storing part of the complete transaction, without being about to store more than 10%.
What do you think about these idea?
POS seems to be an alternative.If ETH want to become a maintream currency, why keeping mining? Mining is meant to mimic the GOLD currency, having miners and limited supply.
But if you want to do something that compete with the USD you need to mine on demand, like the banks are doing. When a node is necessary, you create it, then the supply always matches the demand, transactions can be done instantly without waiting a block, without paying expensive gas. That would work as a replacement currency for every day use.
And also why everyone need to download full node? Wallets should only download the latests transactions (1 week for example). Then people who want to contribute to the currency could host part of the full node (nobody could host all, to avoid what is happening with BTC and BCC). Gas would be used to reward these stockages wallet that would be like the pillars of the currency and they would make money by storing part of the complete transaction, without being about to store more than 10%.
What do you think about these idea?
But its too like a mining process .
We call it as staking
Without miners any coin would die. You need miners to continue growing supply and creating sustainability or there is no point to any coin in the first place.
I thought eth was going to pos in September. But honestly they change so often, it is very confusing and makes me leery about investing in them.
PoS for Ethereum is rolling out slowly. At first only every other block will be mined using PoS.
Ethereum without miners? What do you think?
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
Vitalik moving to PoS will be proof that Ethereum is controlled by an oligarchy, because PoS only functions as an oligarchy.
Oligarchy is not really the word, I would say that most people in the crypto are snobs. This was not the case when I was doing an IPO in the 2000's when the technology bubble was at the top. You could call anyone with a great idea, and nobody would snob you because you are a newbie.
But Crypto is finance and the make all these people looking like baron Rothschild. It is one thing I really don't like about the Crypto community, you need to be "someone" to have great idea, yet the ones who judge you are just kids with pockets full of Bitcoins they got by accident.
I thought eth was going to pos in September. But honestly they change so often, it is very confusing and makes me leery about investing in them.
Did you just give us the new idea of turning ethereum to proof of stake ?
And it's a new thing and asking us about our opinions ?
Mate I guess you're a little brand new or either too late to the party.
Because this POS thing is supposed to come some time in the next year.
And they've been talking about it for a long time now.
Just try to google "eth turning proof of stake".
Profits is what everyone cares about mate. I don't promote it but mine it and trade it. It gets me cash so I like it.
And it's a new thing and asking us about our opinions ?
Mate I guess you're a little brand new or either too late to the party.
Because this POS thing is supposed to come some time in the next year.
And they've been talking about it for a long time now.
Just try to google "eth turning proof of stake".
POW or POS, ETH will always remain a shitcoin scam. I am astonished by the many ignorant/uninformed people that promote this 80% premined highly centralized scam.
Profits is what everyone cares about mate. I don't promote it but mine it and trade it. It gets me cash so I like it.
I get that, profit is profit, I mined it as well for some time.
What I don't understand is why the people are telling plain lies, invent bullshit stories "tuvemun", "it will overtake bitcoin", "is used by the Chinese government, Russian, US, by the Illuminati ffs".
Profiting and promoting a scam makes you an accomplice, not an outsider.
Are you mining it? Mine it silently, don't tell anyone! It's a shame to be involved in scams.
Ethereum without miners? What do you think?
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
Vitalik moving to PoS will be proof that Ethereum is controlled by an oligarchy, because PoS only functions as an oligarchy.
Did you just give us the new idea of turning ethereum to proof of stake ?
And it's a new thing and asking us about our opinions ?
Mate I guess you're a little brand new or either too late to the party.
Because this POS thing is supposed to come some time in the next year.
And they've been talking about it for a long time now.
Just try to google "eth turning proof of stake".
Profits is what everyone cares about mate. I don't promote it but mine it and trade it. It gets me cash so I like it.
And it's a new thing and asking us about our opinions ?
Mate I guess you're a little brand new or either too late to the party.
Because this POS thing is supposed to come some time in the next year.
And they've been talking about it for a long time now.
Just try to google "eth turning proof of stake".
POW or POS, ETH will always remain a shitcoin scam. I am astonished by the many ignorant/uninformed people that promote this 80% premined highly centralized scam.
Profits is what everyone cares about mate. I don't promote it but mine it and trade it. It gets me cash so I like it.
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