The existence of ETC is a major reason why ETH really can't go POS; not that I think it was likely in the first place.
This two statements are intriguing, especially connection between ETH not being able to go POS because of ETC staying POW.
Could you elaborate?
ETH going POS would be like Coke deciding they will no longer produce Coca-Cola Classic, but will only sell Coke zero. The result would be that almost all Coke consumers would start drinking Pepsi or another cola.
Pure POS is a joke; at worst it is trusting a single entity, and at best trusting it is trusting a small network of entities; like how our banking system currently works. There have been many 'magical' systems that employ complex graph theory and claim to have solved the two generals problem without needing POW. All of these simply push the problems of POS to the edge of the system, and then claim they don't exist: knowing most people will never bother to learn; let alone understand, the underlying theory.
Fairy tales aside; POS only works when you have a centralized or hierarchical authority structure. In the end sharding will be revealed to be dependent on a hierarchical authority structure hidden in the periphery of the system.
ETH going POS would essentially be fully converting ETH into a digital bank token; a digital currency essentially no different from digital dollars. At that point it would be a contract system upheld at the behest of the hierarchical authority structure: but this is what we have now, why do we need ETH for it?
A Cryptocurrency must have no centralized or hierarchical authority structure. Its transactions must be immutable.
If ETH was what it purports to be; it would be ETC. ETH cannot return transaction immutability without validating ETC. The only path for ETH is to continue to promise grand visions of a magical POS forever; hardforking to avoid the problem at hand whenever needed.
I seem to be getting no where with this question.
Does anyone know if you can do 7 GPU's with Nvidia in a single mining rig? -- I can find someone with 6 but can't find anything about someone having 7.
It is easier to get 7+ gpu rigs working with lower ram cards. Getting 7x 8gb or even 7x 6gb cards on one system is not the same as getting 7x 4gb. Later today I'll see if I can get 7x 1050ti (4gb) to work.
I bolded the most import thing to understand about POS.
Basically it is interest on a bond or interest in a bank.
Right now worldwide all bank and all bond interest is terrible. Well under 5%
Actually in many places bank interest on account is well under 2%. Yeah it is insured and "safe" but it sucks.
POS is basically a variation of bank account or bond account interest. With one exception it is not insured by the country the coin is in.
So How can they pay you say 6% on your coins and not go broke? I personally think they can't do it.
I think eth will remain pow. and the backing it has is the gear that mines it.
this is why I prefer gpu based/backed coins.
over asic backed coins.
I ask you would you rather trust AMD,NVIDIA,INTEL,ASUS,EVGA,MSI,Biostar,Asrock,Gigabyte,Seasonic ,Corsair,Antec,Rosewill. And many more real hardware companies.
or Bitmain, Bitfury, Avalon, Baikal as the backers of your coins.
Basically this is what backs your coins up for POW the gear mining it.
