Topic: Ethereum without miners? What do you think? - page 2. (Read 1125 times)
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.
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?
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?
i don't like pos coins, because they don't offer solution for investors, i mena investors will only buy early because of the pos reward, granted that the pos of eth will work like a standard pois and not like decred, you have that after the initial euphoria the investors will not buy anymore and begin to dump, pos coin never go anywhere, some of them are just surrounded by luck and rise for no reason lol
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?
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?
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
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 agree with you, non-mineable is a trend, new coin rarely ujse POW nowadays, POS, DPOS, POW...are more environmental
It's coming in due time. but in the meantime, things like Lisk and Stratis are implementing these features from the ground up
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.
Thanks all for these info, waiting impatiently that these improvement are implemented.
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.
It will be more valuable vitalik is so smart and he knows what to do. Proof of stake will make ethereum more valuable.
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.
In just a few weeks time the Metropolis hard fork is being activated on Ethereum, this will start the process of steadily increasing the difficulty on Ethereum until next year some time when the proof of stake algo goes live effectively forcing the miners out. The update also includes "Zero Knowledge Proofs" which is what ZCash uses to keep their transactions anonymous, so Ethereum will gain these benefits also.
So in short, miners are already being phased off from Ethereum for the long term, but in the short term I think the price will go up soon
So in short, miners are already being phased off from Ethereum for the long term, but in the short term I think the price will go up soon
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.
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.
This is already being done. The next upgrade ("Casper"?) will further implement the difficulty bomb as the network gradually moves towards proof-of-stake. The details still aren't clear to me, and I still think proof-of-stake is highly speculative. They are basically planning on ripping out the entire economy underlying Ethereum and attempting to replace it overnight. I know it's been on the roadmap for a long time but I'm still not sure that investors understood then (or understand now) the risks of transitioning to a PoS network.
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?
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?
"Casper" will gradually reduce the importance of mining until Ethereum is going full Proof-of-Stake in about 18 months.
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?
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?
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