POW was invented by satoshi because he wanted everyone to contribute. He said 1 CPU = 1 Vote and POS is nowhere near that.
Only the rich can afford to stake and they will control most of the ETH out there. So it’s very similar to the legacy finance system.
Right now many are mining at home and it’s decentralized. When POS hits it will most likely be held by the top 1%.
Why are they doing it? Well because we have an energy shortage and mining uses tons and tons of energy and ETH dev goal was to make it more efficient.
You either like it or are against it.
Topic: Vitalik Buterin sets date for Ethereum’s Merge - page 4. (Read 1118 times)
That's what a lot of people are waiting for! People like me who can't afford a high end mining gear can safely do pool staking once ETH moves to POS. Also the current competition of hash rate will disappear which will be great for the commoners like me. But the summer has just started so hopefully it will happen in next 2-3 months. Fingers crossed! But those people who have already invested in high end hardware to mine ETH, they will have to find a new coin to mine. That will be very interesting to see which coin becomes their preferred choice after the ETH moves to POS. Possibly a great investment opportunity awaits ahead for all of us if we can stay vigilant.
staking is death for eth.
it is why it is calling staking.
the vampire and leach on btc will soon be dead.
staking is a certain fail and can not work.
Why do you think that? Pow is outdated and not sustainable. From mining perpective, yes could be the end and thats just great (becuase of the way too much greedy miners.)
Usage of ETH will expand, with better scalability.
pos is a bond that pays interest.
most bonds paying interest have backing
problem with crypto pos zero backing from any assets at all.
pos for eth is a fail on an unimaginable scale.
Pow is hard iron gear that turns energy into value.
I have been in on three projects with pow that have created over 450kwatts of solar energy.
using ltc/doge asics btc asics and eth gpus.
two projects have paid off all the solar already the third project will pay off in two- five years.
all due to mining.
so part of the worlds power infrastructure was built due to btc/eth/doge/ltc
pos will never do this.
so in part Pos is simply a tool of the old school bankers used as a weapon against pow.
pow simply needs proper management.
one suggest is all solar developed by mining creates tax free coins.
and all mining using coal/oil is subject to a higher tax rate.
within five years the world would double its solar maybe triple it.
I get so annoyed by pos pushers and pow detractors as they simply are gaslighting in order to screw pow.
Usage of ETH will expand, with better scalability.
PoS is no different from the legacy fiat financial system, where a small number of billionaires own 90% of the wealth. PoS is like a few megacorps owning the judge & jury, while PoW is a fair court trial where there is no conflict of interest.The argument that 'a few mega miners own 90% of the network hashrate' doesn't work with GPU mineable coins like ETH. 90% of the hashrate is probably from miners who own less than 100 video cards. A quarter of the ETH hashrate is probably from gamers with just 1 video card.
That's what a lot of people are waiting for! People like me who can't afford a high end mining gear can safely do pool staking once ETH moves to POS. Also the current competition of hash rate will disappear which will be great for the commoners like me. But the summer has just started so hopefully it will happen in next 2-3 months. Fingers crossed! But those people who have already invested in high end hardware to mine ETH, they will have to find a new coin to mine. That will be very interesting to see which coin becomes their preferred choice after the ETH moves to POS. Possibly a great investment opportunity awaits ahead for all of us if we can stay vigilant.
staking is death for eth.
it is why it is calling staking.
the vampire and leach on btc will soon be dead.
staking is a certain fail and can not work.
Why do you think that? Pow is outdated and not sustainable. From mining perpective, yes could be the end and thats just great (becuase of the way too much greedy miners.)
Usage of ETH will expand, with better scalability.
That's what a lot of people are waiting for! People like me who can't afford a high end mining gear can safely do pool staking once ETH moves to POS. Also the current competition of hash rate will disappear which will be great for the commoners like me. But the summer has just started so hopefully it will happen in next 2-3 months. Fingers crossed! But those people who have already invested in high end hardware to mine ETH, they will have to find a new coin to mine. That will be very interesting to see which coin becomes their preferred choice after the ETH moves to POS. Possibly a great investment opportunity awaits ahead for all of us if we can stay vigilant.
staking is death for eth.
it is why it is calling staking.
the vampire and leach on btc will soon be dead.
staking is a certain fail and can not work.
They gave a confirmed date of Aug 2022? Will it actually happen then? Who knows. They either very confident one week and the next week after discovering some bugs they will pull it back.
Until we have a concrete block number and it’s closer to the date, there is a chance it might get moved up. But I am already starting to see about to sell off their gear. I think depending on what GPU you got, you can still get top dollar for it before the new GPU and ETH merge comes.
The developers promised to complete mining in the 2nd quarter. It doesn't matter when the POS algorithm is launched, because smart miners are not buying video cards now. If the launch of the POS algorithm in testnets goes without errors, then maybe it will be August or September, but we are not in a hurry Until we have a concrete block number and it’s closer to the date, there is a chance it might get moved up. But I am already starting to see about to sell off their gear. I think depending on what GPU you got, you can still get top dollar for it before the new GPU and ETH merge comes.
They gave a confirmed date of Aug 2022? Will it actually happen then? Who knows. They either very confident one week and the next week after discovering some bugs they will pull it back.
Until we have a concrete block number and it’s closer to the date, there is a chance it might get moved up. But I am already starting to see about to sell off their gear. I think depending on what GPU you got, you can still get top dollar for it before the new GPU and ETH merge comes.
Until we have a concrete block number and it’s closer to the date, there is a chance it might get moved up. But I am already starting to see about to sell off their gear. I think depending on what GPU you got, you can still get top dollar for it before the new GPU and ETH merge comes.
That's what a lot of people are waiting for! People like me who can't afford a high end mining gear can safely do pool staking once ETH moves to POS. Also the current competition of hash rate will disappear which will be great for the commoners like me. But the summer has just started so hopefully it will happen in next 2-3 months. Fingers crossed! But those people who have already invested in high end hardware to mine ETH, they will have to find a new coin to mine. That will be very interesting to see which coin becomes their preferred choice after the ETH moves to POS. Possibly a great investment opportunity awaits ahead for all of us if we can stay vigilant.
"Ethereum Merge will arrive in the summer of 2022
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
It looks like this time he is decided to go on with this.I hope he understands well that it will only bring the failure to Ethereum and it will not be anymore the second top altcoin,right after Bitcoin.I don't think it will be bullish for Ethereum in the long term this merge,except maybe for the first couple of weeks after the merge.
As for the mining part there are a lot of other coins who can replace Ethereum,and some new one may come up to fill this gap,the only loser here is Butekin himself.
The most expensive video cards will now give such a profit, which is given by some of the weakest video cards in mining, for example, the RX 470.
I have written it before,for the same hash rate 300 Mhsh I make only 2-3 dollars less if I mine ETC compared to ETH now and hopefully as a beginning ETC will take its place,I am not saying that it will be wow but it will ok for all the miners.Then we have to see how things will unfold,will ETC be able to get and process such massive hash rate when everyone switch back to it in the first weeks,if so good for us,if no then I believe firmly that a new coin will become the new Ethereum,there is no need to look always in a pessimistic way when positive things always do happen in the crypto world.
The end of eth...
Long live the king bitcoin.
Long live the king bitcoin.
maybe there will be a last bulltrap before the merge
This could happen, but with the economic troubles in the U.S., coin prices should go sideways at best. We will probably have a crab market.too many eth coins were staked, the sell off after the merge will be insane and that is when we will know the true bottom for btc and eth.
Historically, mining ETH has been 20-30% cheaper than buying ETH. If you're right, it will actually be cheaper to buy Ethers than mine altcoins then convert them to Ethers for the first time ever. That would only lead to more miners liquidating their rigs, meaning we could see RTX 3060 Ti cards going to as low as $250. 
Absolutely true. This has been discussed many times on this forum. ETH comprises 95% of the block reward income available to GPU rigs. After PoS, the revenue we get will be just 5% of what it used to be at first, until network hashrate collapses to a reasonable level. At that point, GPUs will become very cheap, then revenue will recover, so it will make sense to build a rig again. But the payback time would be 600+ days.
The losers will be those who bought video cards at inflated prices but haven't reaped inflated 2021 profits.
The losers will be those who bought video cards at inflated prices but haven't reaped inflated 2021 profits.
It is going to be a lot worse than that but you gave a good possible outcome of it, if people dont sell their mined coins now, it will be a lot worse than that but maybe there will be a last bulltrap before the merge and then will crash to hehell because all blocked eth coins that were staked will be freed and able to be sold in the market, too many eth coins were staked, the sell off after the merge will be insane and that is when we will know the true bottom for btc and eth.
Write at least one coin that will give a profit if at least a third of the current Ethereum miners continue mining.
The most expensive video cards will now give such a profit, which is given by some of the weakest video cards in mining, for example, the RX 470.
Absolutely true. This has been discussed many times on this forum. ETH comprises 95% of the block reward income available to GPU rigs. After PoS, the revenue we get will be just 5% of what it used to be at first, until network hashrate collapses to a reasonable level. At that point, GPUs will become very cheap, then revenue will recover, so it will make sense to build a rig again. But the payback time would be 600+ days.The most expensive video cards will now give such a profit, which is given by some of the weakest video cards in mining, for example, the RX 470.
The losers will be those who bought video cards at inflated prices but haven't reaped inflated 2021 profits.
"Ethereum Merge will arrive in the summer of 2022
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
It looks like this time he is decided to go on with this.I hope he understands well that it will only bring the failure to Ethereum and it will not be anymore the second top altcoin,right after Bitcoin.I don't think it will be bullish for Ethereum in the long term this merge,except maybe for the first couple of weeks after the merge.
As for the mining part there are a lot of other coins who can replace Ethereum,and some new one may come up to fill this gap,the only loser here is Butekin himself.
The most expensive video cards will now give such a profit, which is given by some of the weakest video cards in mining, for example, the RX 470.
They need to do the merge this year or next year maximum, the merge needs to happen a year before the next bullrun, if they do now then will have 18 - 24 months before next bullrun to accumulate. The bottom/ hehell crash will happen from September 2022 to March 2023. That is the time to buy, next bullrun in course for 2025 could start in 2026.
"Ethereum Merge will arrive in the summer of 2022
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
It looks like this time he is decided to go on with this.I hope he understands well that it will only bring the failure to Ethereum and it will not be anymore the second top altcoin,right after Bitcoin.I don't think it will be bullish for Ethereum in the long term this merge,except maybe for the first couple of weeks after the merge.
As for the mining part there are a lot of other coins who can replace Ethereum,and some new one may come up to fill this gap,the only loser here is Butekin himself.
"Ethereum Merge will arrive in the summer of 2022
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
Ethereum Merge is considered a milestone for the altcoin as it transitions from Proof-of-Work to Proof-of-Stake, after a long wait. After several delays over the past year, Vitalik Buterin, the co-founder of Ethereum, announced the date for “The Merge.” At a Web 3.0 ETH Developer Summit, he told attendees that “The Merge” is the largest event in the altcoin’s development roadmap in 2022. Ethereum developers have been working on Proof-of-Stake for almost seven years now and that all the work will come together in the summer of 2022. "
original article: HERE
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