So the ETH merge has finally happened - page 2.

BitDane

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Quote from: tvplus006 on September 18, 2022, 04:55:03 PM

Quote from: WilderX on September 18, 2022, 04:25:55 AM

Sorry guys but the ETH price is going to tank hard, because now it costs almost nothing to create more ethereum big wallets can just create lots and lots of new ETH by just holding/staking them...
It used to cost a lot of energy to create one ETH when it was still Proof of Work. But now it's next to nothing...

That's not how it works at all. After the network has switched to POS, validators receive a reward only for confirming new transactions. Accordingly, the number of new coins has been sharply reduced, since there is now no reward for miners. And now, taking into account the coins being burned, after the London fork, Ethereum will become deflationary.

I also have the same thought that the price will tank hard because it is almost cost nothing to create ETH. Besides, I do not think that London Fork will make ETH deflationary because ETH has no finite supply. Just check the max supply of ETH, it is infinite! I doubt this burning will even make the ETH total circulating supply to shrink. I do not even think that it will nullify the daily ETH coin production.

tvplus006

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Quote from: WilderX on September 18, 2022, 04:25:55 AM

Sorry guys but the ETH price is going to tank hard, because now it costs almost nothing to create more ethereum big wallets can just create lots and lots of new ETH by just holding/staking them...
It used to cost a lot of energy to create one ETH when it was still Proof of Work. But now it's next to nothing...

That's not how it works at all. After the network has switched to POS, validators receive a reward only for confirming new transactions. Accordingly, the number of new coins has been sharply reduced, since there is now no reward for miners. And now, taking into account the coins being burned, after the London fork, Ethereum will become deflationary.

sayaya17

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Quote from: Kadal Ijo on September 18, 2022, 09:05:25 AM

Many are worried that the price of ETH will drop after the merge process, if this happens, of course there will be many big impacts, namely the effect of tokens that use the ERC20 network will drop, we wait at least until the end of 2022 whether the price can rise or vice versa.

Ethereum is a project that has an excellent track record, and also Ethereum has a very solid development team. So don't worry about the effects
after the merge is complete, the Ethereum price will continue to decline, we have to be patient holding Ethereum. And don't even think about selling it
at a low price. Maybe the movement of Ethereum in the near future will look bad, but in the long term Ethereum will look positive. We do have
to believe Ethereum will provide huge returns in the long run. Ethereum will continue to develop into an extraordinary project, because Ethereum
has proven to always be in second place on coinmarketcap. This means that Ethereum is indeed the best altcoin and is a worthy investment choice.
That's why I don't panic to see Ethereum's price dropping right now. Because I believe when the bull market comes, Ethereum will rise very high and
can provide satisfactory profits.

Kadal Ijo

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Many are worried that the price of ETH will drop after the merge process, if this happens, of course there will be many big impacts, namely the effect of tokens that use the ERC20 network will drop, we wait at least until the end of 2022 whether the price can rise or vice versa.

WilderX

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Sorry guys but the ETH price is going to tank hard, because now it costs almost nothing to create more ethereum big wallets can just create lots and lots of new ETH by just holding/staking them...

It used to cost a lot of energy to create one ETH when it was still Proof of Work. But now it's next to nothing.

So you will see the price returns to pre 2018 levels in the future. From 10's to max couple of hundred dollars per ETH.

Also now the SEC is coming for ETH because it is proof of stake and that makes it a security now.

So you will see ETH price will be exactly what it costs to make one in the end. Which is very low value.

Xal0lex

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Quote from: pawanjain on September 15, 2022, 09:40:02 AM

So what do you guys think, what's next with Ethereum ?

I think, that now ETH price will go down gradually, because there was a great demand because of possible coin's plummet on the background of the merger. It didn't happen and disappointed investors and speculators started to bring ETH to exchanges in mass. There is speculation that the decline may continue until strong support at the $1,000 level. ETH forks are actively starting to be added to exchanges and are even opening trades. Another reason to add ETH to exchanges is in anticipation of a possible ETHW airdrop, so now everyone is waiting for some sort of network split and for miners to decide where to redirect their capacity. I was expecting much more from the merger.

zasad@

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Another horror story about Ethereum. Read the explanation in the comments.
https://twitter.com/santimentfeed/status/1570339602346684416
"According to our #Ethereum Post Merge Inflation dashboard, 46.15% of the #proofofstake nodes for storing data, processing transactions, and adding new #blockchain blocks can be attributed to just two addresses. This heavy dominance by these addresses is something to watch."

kojektea

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this is good news for those ethereum fans. I understand the price of ethereum even after the merge doesn't have any progress, but this is just the beginning because ethereum is a big project of course the price is not easy to manipulate due to the high trading volume. let's see some time in the future I believe there will be changes after the merge.

hichamito37

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it is a matter of pride for ethereum which can now merge into something new. I think POW is too expensive and not environmentally friendly. even ethereum itself when it was still mining POW cost a lot of gas although I'm not sure the main cause was because of POW. but since the merge the ethereum gas costs no more than 10 GWEI that's great.

You mean the ethereum gas fee has dropped, I haven't done any ethereum transaction since the merger was complete. Is that true? because I heard the merger only helps ethereum reduce energy consumption to a low level, can reduce energy consumption up to 99%, the gas fee issue will not be fixed in this batch.

Pujangga

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Quote from: fvb on September 16, 2022, 01:07:43 PM

I read a lot of articles on this topic and so did not come to an unequivocal opinion. Will the price rise or not, how will this all affect the network. Some analysts say that now is the best time to lock coins in the wallet and wait for the price to rise, which they think will be by the end of the year. Everything looks ambiguous and time will tell who was right.

It is now the 17th or 2 days since the merge process, many congratulated Mr. vitalik on twitter, of course I hope this can have a positive impact on ETH and the market. Another thing is that the transaction process can be faster and at a low cost, and this is what developers who use the ERC20 network are waiting for.

Yamifoud

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Quote from: ?? on ??

I don't expect anything new as regards ethereum in term of moving from Proof of Work to Proof of Stake until a major development from the Bitcoin. The merge from proof of work to group of stake will make all the ethereum miners who do nothing beyond mining to migrate to another coin from which they can mine.

And a fork from ethereum will bring a boom in the price of ethereum as people will possibly want to hold more to maximise their benefit from the fork.

Of course, the effect of Merge is not directly felt, many experts say that it takes big more than just a merge process that does not bring a significant impact, and of course I don't really think about this process, the most important thing is that transaction costs are cheaper than before.

Maybe you are right but the appreciation of the people is somewhat negative as they are expecting a price hike, not a dump. It was too unfortunate to see the price of ETH drop eventually after the merge and many people felt disappointed with this. We're not sure if the drop will just stay in a few days and rises again but there is one thing I can only say - I trust this project despite its current situation. I keep holding for I believe someday it reaches back to $2,000 ( and more).

TheGreatPython

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Quote from: Bananington on September 16, 2022, 09:02:34 AM

Quote from: pawanjain on September 15, 2022, 09:40:02 AM

So what do you guys think, what's next with Ethereum ?

We are hoping to see the a better and more efficient ETH network, and it is what everyone will be looking out to observe. The merge happened at a very critical period in time when energy concerns are high and cost of energy is soaring. Critics who used the high energy requirement of the POW as a point to fault the ETH network can now shove it up their Bum.

Energy concerns are not a new thing but they are already talking about that just before the eth merge is planned. I remember the times when they always include bitcoin every time they talk about it and now they are bringing it up once again to push the eth merge and maybe to encourage other coin devs/miners/people to do the same thing.

Now that eth is now in pos mechanism, pretty sure that it will now be more efficient in terms of energy cost and there might be other positive things that will be expected in the upcoming days like its value will increase dramatically and at the same time its transaction fee will now go back to normal again.

el kaka22

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In term short term, it may face tough times, but in the long term I am expecting big grow. Imagine the fact that the more you buy the more you will earn from staking it, in a world like that there is no way that money doesn't go into ETH by the bulk, and maybe it is not happening right now but I am 100% sure that it will eventually happen.

Because of that we are seeing a small drop these days but that doesn't mean how it will be, it will probably end up with a good return and the price will go up eventually. I am holding, and I am buying a bit more, I am going to enjoy the ride to top again, and I am sure I will hold it for far too long and not sell at a profit and wait for it to crash again later on as well, lol.

maydna

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Quote from: fuguebtc on September 16, 2022, 08:41:22 AM

Quote from: maydna on September 16, 2022, 07:03:52 AM

Quote from: ?? on ??

~snip~

You should not just expect ethereum to only increase after the merge. Before that, there were mixed opinions, some people thought that it would go up to 2k1 $ or higher, but there were also investors who thought that it would lose value right after the merger. Just because it doesn't grow as you expect, you shouldn't jump to the conclusion that it's outdated.

Before the merge, we also saw the market drop because of the news related to the CPI so it is difficult for ethereum to have a chance to shine in its big event. It's a pity but I believe ethereum won't stay silent forever, let's wait and see.

Later the price of ethereum will rise to $ 2k, but for now, it looks like ethereum will have to wait again because the price of bitcoin itself is unstable and still changes frequently. This makes the merger run without any significant price changes. And as ethereum investors, we should not panic and keep waiting because the price of ethereum can increase at any time.

A declining market causes the prices of many coins to decrease, and we can do nothing but try to take advantage of all of that. We'd better stay patient until everything changes, and when that changes, the number of coins will definitely increase, and the price of ethereum will also increase.

cryptomaniac_xxx

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Quote from: zasad@ on September 16, 2022, 09:04:11 AM

Another gift for negativity in the crypto market
https://www.wsj.com/articles/ethers-new-staking-model-could-draw-sec-attention-11663266224
Ether’s New ‘Staking’ Model Could Draw SEC Attention
"Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by courts to determine whether an asset is a security. Known as the Howey test, it examines whether investors expect to earn a return from the work of third parties. "

Right, but I thought that they already deemed ETH and considered it not a security. It's not just an attack on ETH per se, but the whole staking model that have been existing for years and then they will have just have to investigate now because of the ETH merge and because of the validators staking 32 ETH.

Quote from: tvplus006 on September 16, 2022, 03:58:07 PM

Quote from: Silberman on September 16, 2022, 03:36:59 PM

So far it seems that instead of the rally some were expecting we’re seeing a slight drop in the price of ethereum, nothing too serious which could make us think that there’s some kind of issue with ethereum..

The price drop did not occur after the merger, but a little earlier, when the price of ETH reached $2000, after the date of the Ethereum merger was made public. And since then, we have been observing a correction of ETH, which may reach the price of $1300, after which we can see a new wave of growth.

Yes, it almost touch $2k when the test was successful on their test net and that is why they proceeded with the mainnet. And every one predicted that it can as high as $2,200 because of this activity. But when the CPI announced their report, the whole financial market was affected and still now, we are all over red as investors are panic selling.

Balmain

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Although it does not have a tangible effect for now, it will have very positive effects in the long run, the 2nd best coin in the market has switched to the POS system and it is well priced to buy right now, this is not investment advice in my opinion. Currently, mining fees appear at 14 gwei. It is a great relief for the network that we are entering a new time in cryptocurrencies. Maybe a little decrease can be expected. It is currently trading at $ 1400 for eth, let's see if BTC can push itself up again.

tvplus006

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Quote from: Silberman on September 16, 2022, 03:36:59 PM

So far it seems that instead of the rally some were expecting we’re seeing a slight drop in the price of ethereum, nothing too serious which could make us think that there’s some kind of issue with ethereum..

The price drop did not occur after the merger, but a little earlier, when the price of ETH reached $2000, after the date of the Ethereum merger was made public. And since then, we have been observing a correction of ETH, which may reach the price of $1300, after which we can see a new wave of growth.

bitcoin-shark

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so the merge is done the value of eth is going down and it has become a fully centralized altcoin, the only good news is that the price of gpu will go down

Silberman

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Quote from: bitcampaign on September 15, 2022, 10:53:27 AM

today after the merger was announced by vitalik, the price of ETH is going down and there are other things that I hope to go down is the transaction fee of gwei gas which should be cheaper and can be like BNB which focuses on 5 gwei per transaction, ETH is still very high in fees so that may be disappointing me, I can only hope that ETH transaction fees can be much cheaper in the future from this merger, everyone is still careful now to buy it because it could be dumped after the previous ETH price touched $1700 but if investing for the long term take now is the price right

So far it seems that instead of the rally some were expecting we’re seeing a slight drop in the price of ethereum, nothing too serious which could make us think that there’s some kind of issue with ethereum, but still it’s going to be very important to see how ethereum develops from now on, there were a lot of people which weren’t happy with the merge and which could make some moves against ethereum during the next months, and since ethereum is so big this could have repercussions not only in the ethereum ecosystem but in many other coins as well.

serjent05

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Quote from: makishart on September 15, 2022, 12:03:15 PM

There will be no new hardfork coin but those miners are creating collution to launch their own ethereum called ETHPOW. This coin is likely to be another scam created by miners. Miners are greedy and people shall not buy that. ETHW was just another shitty fork coin created by greedy miners like BCH, BTG and many more. The fork coin is a way for miners to keep getting more and more money through dumping their scam coin to the stupid people who are still buying it for now. Ethereum miners are scammers.
I will never buy ETHW

I can't agree more. This fork is basically useless and shouldn't have value. It is literally stated that ETH will be in POS so these ETHPOW and ETHW is just another method these greedy miners has to milk these naive investors of their money. These forked ETH are not even supported by the ETH developers so it is a clear sign that this fork is more likely a shitcoin/ or a way to rob people of their money.

Quote from: Captain Corporate on September 15, 2022, 12:57:17 PM

Can someone please explain to me why did the merge cause the price to go down? I am not saying that people shouldn't sell or anything, I just do not understand the logic behind it and makes me feel like there is a good chance we just end up holding a little while longer and make a quick profit if its just about peoples perseption of it. There doesn't seem like any good valid reasons to sell right now to me, but maybe I am missing something, if people explained to me what seems to be the main reason why they are selling, then maybe I would understand and I would sell too, but couldn't figure out myself.

It is that before this merge, there is a lot of hype about the ETH fork and many investors are rushing to buy ETH to avail of that free money, and the possible escalated hype happened. Now that the merge had happened and no big surge happens after the merge, people then sold their stash for profit. That is pretty much one of the reasons of the possible dump after the merge.

Topic: So the ETH merge has finally happened - page 2. (Read 637 times)