Possible scenarios during an ETH algo switch

pereira4

legendary

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Quote from: terible.hunter on February 27, 2018, 02:49:32 PM

I can not say anything about this, but I think that this year Vitalik still decides the main question with the scalability of the network and then ETH can cost much more than now. So maybe there's just a little wait

But if Vitalik has to decide something for it to happen it means that the project is centralized and therefore worthless.

Can someone explain how the ETH switch is going to happen? Does Vitalik to have to say when it happens? how it is decided and put into practice? Sounds like a mess in the making to be frank.

It should have been hard coded since day 1 that X years later the PoS would happen.

The less automated something is in a crypto project the worse it gets. Just look at all these PoS and DAG projects where the creator has to issue the coins, it is rather lame.

I would like to know the details to see how ETH will make the switch.

terible.hunter

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I can not say anything about this, but I think that this year Vitalik still decides the main question with the scalability of the network and then ETH can cost much more than now. So maybe there's just a little wait

pereira4

legendary

Activity: 1610

Merit: 1183

First of all I haven't paid enough attention to know when the switch from PoW to PoS will happen, but as far as I know this is inevitable. For anyone holding ETH it should be important to know the possible outcomes and what to do with what you are holding. This is what I see:

1) The switch is a success. The former chain dies and miners go mine whatever else.
2) The switch a success (from the technical PoV) but the former chain doesn't die. The result is 2 coins. ETH PoW and ETH PoS.. with unpredictable outcome.
3) The switch is a failure. Something goes wrong and the PoS chain dies, the legacy PoW chain is then keeping all of the hashrate, but due the PoS clusterfuck there is a big sell off.
4) Kind of a bonus one: There is an ETC (Ethereum Classic) pump if 2) or 3) happens, since it is the actual legacy PoW coin.

Probably matter other scenarios. Honestly holding ETH is going to be pretty nerve-racking. I don't hold any right now but I may attempt to speculate during the switch, I think there will be big opportunities to make (and lose..) money.

Topic: Possible scenarios during an ETH algo switch (Read 85 times)