Topic: Ethereum’s Proof of Stake is 75% complete (Read 5552 times)
a little bit of thread necromancy - what is current ETH POS status? When will it be 100% POS? I can't find reliable source of information.
So, what is the latest. When will this occur?
What will happen to the miners of Ethereum after the switch to proof of stake? I have asked this question before and I have received a lot of answers that say they will mine other coins.
The real answer is the miners after supporting the ETH network will have been screwed over by the Ethereum Team. Anyone who suggests they will just mine other coins doesn't have a basic understanding of mining at all.
As soon as all that mining power attempts to move to other coins, the difficulty level will sky rocket and mining the coin becomes unprofitable. In general the quantity of hashpower following a coin mirrors price. If price goes up making it more profitable to mine new hashrate comes in to support the coin. If price drops eventually miners start loosing money and hashrate drops. This creates an equilibrium between price and hashrate. This equilibrium means that in most cases coins already have a hashrate in proportion to the value of the coin. It's because of this balance that the hashrate of the ETH network has no where to go.
yeah nah, your hooked on hashing. Anything that can provide security sufficiently with less drag will be just as good if not better than minning.
Do you have any examples of a pos chain that has been successfully double spent hacked or forked? I am sure there are some?
Vitalik should step down from ethereum. Nothing good will come of excessive fame. Not that he is a bad buy.
he's captured. if he steps down the price...goes up? don't think so.
wow it's a great news. yesterday' news said Vitalik was invited by the Hangzhou (China) government to give a speech
And why the demand will increase?
The demand is likely to increase, because the reward will be given for having money. So, one doesn't have to spend a lot on electricity and solve puzzles after the switch to PoS but has to proof having ethereum.However, the guy in this (https://www.youtube.com/watch?v=PN9UXIsLu48) video says that for this change to happen we need a stable code (I hope that's not a big problem) and miners supporting this change. Otherwise eth will face hard fork and eth will be like etc is right now. The price will obviously drop big time in such a case. But I don't understand the following: miners are now having their income for solving puzzles. There will be no mining after the switch. Why should they support it then? Just because they probably have lots of eth now and they'll get reward for that?
Vitalik should step down from ethereum. Nothing good will come of excessive fame. Not that he is a bad buy.
1. ETC won't go POS. In ETH, POS isn't simply POS, like what other projects have. But in ethereum, POS also means scaling and a shit ton of different projects and development.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
To answer point no.3, that is very arrogant of you to say. If bitcoin is not taken off from the exchanges as the main cryptocoin in the middle of all trading pairs then all other altcoins will depend in the future of bitcoin.
You say bitcoin is a ponzi? Maybe it is but what would that make the altcoins?
WOW really ? Impressive with the ICO from 2014
I can't wait to get my Ethereum ROI'z card !!!!!!!111ONE
..i hope ETH fag's die of AIDS.
I can't wait to get my Ethereum ROI'z card !!!!!!!111ONE
..i hope ETH fag's die of AIDS.
Approval of a potential ether ETF - although subject to final approval, would mark the latest development in the ether market, following recent price increases that saw the ETH 1 rise above $ 50.
The SEC is also seeking information on what approach to take, although notably a previous request has not been answered, the agency said.
So now it remains to be seen whether the SEC will approve the proposed ETF. Last month, the SEC vetoed changes to rules that would have allowed access to two bitcoin ETFs, citing concerns over market surveillance and insufficient regulation.
The SEC is also seeking information on what approach to take, although notably a previous request has not been answered, the agency said.
So now it remains to be seen whether the SEC will approve the proposed ETF. Last month, the SEC vetoed changes to rules that would have allowed access to two bitcoin ETFs, citing concerns over market surveillance and insufficient regulation.
SEC is seeking information from whom?
Approval of a potential ether ETF - although subject to final approval, would mark the latest development in the ether market, following recent price increases that saw the ETH 1 rise above $ 50.
The SEC is also seeking information on what approach to take, although notably a previous request has not been answered, the agency said.
So now it remains to be seen whether the SEC will approve the proposed ETF. Last month, the SEC vetoed changes to rules that would have allowed access to two bitcoin ETFs, citing concerns over market surveillance and insufficient regulation.
The SEC is also seeking information on what approach to take, although notably a previous request has not been answered, the agency said.
So now it remains to be seen whether the SEC will approve the proposed ETF. Last month, the SEC vetoed changes to rules that would have allowed access to two bitcoin ETFs, citing concerns over market surveillance and insufficient regulation.
1. ETC won't go POS. In ETH, POS isn't simply POS, like what other projects have. But in ethereum, POS also means scaling and a shit ton of different projects and development.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
in relation [2] PPC is aimed at being a backbone "currency". This is something most still don't understand. Its the opposite to a retail currency
1. ETC won't go POS. In ETH, POS isn't simply POS, like what other projects have. But in ethereum, POS also means scaling and a shit ton of different projects and development.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
ETC devs aren't capable of providing this kind of development, therefore this is the reason they hardforked, removed the ice age and set the coin cap to 210-230mil tokens. They can barely copy some updates the Ethereum foundation does. But weren't even capable to copy the update to remove the blockchain bloat caused by the spamers ( they could implement it when they removed the ice age if they were capable ).
2. Nobody cares about PPC. If you want to succeed post bitcoin era in crypto scene, you gotta do so much more than simply aiming to become a currency. Atleast, if you really want to be only currency, you'll have, at minimum, to have privacy and be able to scale onchain. No project can currently really scale onchain, despite what they claim. Ofcourse, i'm talking about public and decentralized projects. Projects owned by private companies that are centralized databases don't count.
3. I don't think BTC has a future. It is supposed to be peer electronic cash system as written in here https://bitcoin.org/bitcoin.pdf . The excuse with "store of value" is made by people who wanted to attract greater fools and by the people who came late into BTC ponzi game. It can't scale, fees are huge, and it's not working/used as what it was programmed to do. Eventually it will run out of greater fools, and in the future because of the halvings the reward will be so small miners won't be profitable and it's security will decrease. Because nobody will pay 50$ fees to support the miners.
[1] would not ETC go POS as well?
[2] PPC the original POS coin will be proven correct and become one of the backbone high value coins as its designed to do exactly one thing well, be the Backbone. No other coins even (seem) to understand or tried to be this. The are all be a swiss army knife of everything, which means compromise on many things.
[3] BTC is realistically faceing problems due to dev issues, and the mining head wind that is always against it.
[2] PPC the original POS coin will be proven correct and become one of the backbone high value coins as its designed to do exactly one thing well, be the Backbone. No other coins even (seem) to understand or tried to be this. The are all be a swiss army knife of everything, which means compromise on many things.
[3] BTC is realistically faceing problems due to dev issues, and the mining head wind that is always against it.
@shyliar. Thank you for making it clear for us. Now that Ethereum classic's price is going up would you go as far to say that this is a controlled movement or development by the miners, developers and whale traders to slowly get all that hash power from ETH to transfer to ETC?
What will happen to the miners of Ethereum after the switch to proof of stake? I have asked this question before and I have received a lot of answers that say they will mine other coins.
The real answer is the miners after supporting the ETH network will have been screwed over by the Ethereum Team. Anyone who suggests they will just mine other coins doesn't have a basic understanding of mining at all.
As soon as all that mining power attempts to move to other coins, the difficulty level will sky rocket and mining the coin becomes unprofitable. In general the quantity of hashpower following a coin mirrors price. If price goes up making it more profitable to mine new hashrate comes in to support the coin. If price drops eventually miners start loosing money and hashrate drops. This creates an equilibrium between price and hashrate. This equilibrium means that in most cases coins already have a hashrate in proportion to the value of the coin. It's because of this balance that the hashrate of the ETH network has no where to go.
This will change the new coin creation rate for ETH, lowering it. If fewer coins are created, probably the price rises, if the demand continues to grow. And why the demand will increase? Smart contracts, new ICO and other stuff that consume ETH to run, will keep the market heated.
PoS will be a huge boon for ETH. Expect the price to rise dramatically when it is implemented.
The reward for ethereum will be over as soon as possible. There will be a limited supply for the ethereum token. It will make FOMO for ethereum. But do you think 3 digits for the ethereum will possible in the future. Big pump will come to the ethereum market.
miners of altcoins, specially when they know these altcoins have no future, will always switch to the most profitable coin. they mine and 99% of the time dump and in 1% they hold until a pump and then dump. and when things become less profitable they simply switch to a more profitable coin!
ETC can be a good candidate but there are a lot of other coins still out there giving good profits to miners.
and on top of that it is currently in a big bubble.
ETC can be a good candidate but there are a lot of other coins still out there giving good profits to miners.
I think price of ETH may be decrease after 1 year from this
it will go down for sure but not because of this, this can actually cause some rise. but ETH will go down because it is a bad project with many holes in it.and on top of that it is currently in a big bubble.
No, this is not exactly true. Miner not exactly go all the time to the most profitable altcoins. See Monero. This is not the most profitable one, but yet, there is some people dedicated toward it that will mine it whatever the price as long as they win at least some money. Monero is the proof that there is still some ideological miners.
when ETH will go full pos other coins will have better value and allow miner to have their profit, otherwise all the nethash of eth will destroy any other coins, because etheruem right now have 20TH of gpu which is equal to 100k rig!, no other coin can take this hashrate, maybe they will pump ETH classic? could be
How long till Ethereum POS algo changed?
Certain POW Blocks reached?
75% since end 2015 so i think by the end of this year ETH is fully pos?
PoS will be a huge boon for ETH. Expect the price to rise dramatically when it is implemented.
How long till Ethereum POS algo changed?
Certain POW Blocks reached?
75% since end 2015 so i think by the end of this year ETH is fully pos?
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