Eth: PoS?

in #ethereum • 7 years ago

I like to ask the following questions:

  1. What will happen to all the GPUs mining rigs when ethereum moves to PoS? Will they move to another PoW crypto?

  2. Will the miners(now call forgers-probably more than half of these miners will not be qualified to be forgers) still be interested in being the "backbone" of ethereum?

3)Based on the reward system which was discussed (using interest rate), that will turn Ethereum into a 75% fiat/25% crypto hybrid; and thus, where will the appeal of this cryptocurrency be?

  1. If the appeal of this crypto dwindles, will ETH drop back to pre-2017 rate?

  2. Are the miners the very reason for ETH's current price?

7 years ago in #ethereum by
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     7 years ago 
    1. GPU miners will move on to other coins that are profitable to mine or show potential and others will just sell their rigs and cash out their eth or stake what they have mined and hodl over the years!
    2. There are no official specs for casper which will roll out PoS so any speculation on whether it is too late to get into mining or whether you will qualify for the "backbone" of ethereum are not worth discussing at this time.
      To learn more I direct you here: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
      3.1) No way to predict prices based on rumors.
      3.2) No, Ethereum has proven itself to be far bigger than what any single mining group can promote!
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     7 years ago 

    Always sell the newsand buy the gpu :)

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     7 years ago 

    agreed! Buy Hype Sell News!

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       7 years ago 

      I think many people underestimate the number of transaction the miners bring to play and by moving ETH to a PoS protocol, ETH maybe jumping down a cliff. Unless of course, ETH is able to build more fundamentals into it such as more and more businesses uses it for their daily transaction. If such is the case, then PoS may not be the correct protocol.

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