Topic: Ethereums (P.O.W) to (POS) and what it means for MINERS (Read 155 times)

As most of you know with the Ethereum fork, you will no longer be able to mine Ethereum. The reason for this is because they are releasing Casper, what Casper is going to do is change Ethereum from a P.O.W (Proof of Work) to P.O.S Proof of stake
Which simple way of puting it is you can choose to stake your Ethereum. You can put back whatever the required amount of ETH is, into special wallets, and when when the fork happens the stakers ETH splits, as far as how much will depend on the amount of stakers and etc, but lets say you have 1000 Eth staked you could potential earn anotheer 200 or even more for staking them,

With these stakers at work, mining will become redundant, meaning the Ethereum network post-Casper will rely on stakers and staking pools instead of miners for its operability.

And, like miners, stakers will be rewarded for their service to the network. “Minters” will receive an annual dividend of ether (collected from network fees), so staking would be a lucrative endeavor for those with enough coins.

So as far as whens the fork it is still unknown, but its expected this year, if you are thinking about purchasing mining setups at this time I dont think it's a good idea,  as you may not make your money back. I personaly believe this is going to make ETH sky rocket in price, as lots of people may not have the potentially 100 needed to stake, we will just have to see,  I hope this helps!!!!