71–80 of 1001 posts
https://standardcrypto.wordpress.com/2021/03/31/the-censorsh...
ETH is competing against USD, not against BTC.
Bitcoin is competing against gold.
Different races. different goals.
Different risks.
I wonder how this will impact mining? Will GPUs suddenly flood the market as it becomes much less profitable to mine? God I hope so the GPU shortages have been crazy.
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Current system is no different, as the hash power is related to how many computers you can afford to buy. This doesn't fix the problem but it does fix the environmental impact.
PoW is a lot different, as burning real world resources (energy) brings sell-pressure to miners, whereas PoS only has cost of locking the funds. This means that regardless of the size of your "operation" cost scales very flat. PoS also does not come with the property of innovation and disruption. In a PoW (especially ASIC-based) system you will find new ways to outperform your peers and disrupt old players. PoW incen…
IMO: it's much better than PoW as long as it doesn't end up too centralized. I'm not too sure how I feel about the minimum amount required to stake though, that seems a bit odd.
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While I myself stay with Bitcoin, Ethereum still has lots of advantages compared to the fiat system: it's still open source, and people can still validate the rules (although that full validation is extremely hard). Also the current fiat system is debt based, which means that the vast majority of money is printed by banks and the money printing power is at the highest ranking sales person, and hidden.
In a well functioning democratic society, the money printing is ultimately under democratic control. Don't lie.
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Current system is no different, as the hash power is related to how many computers you can afford to buy. This doesn't fix the problem but it does fix the environmental impact.
No, it is very different because in practice the pools and exchanges are totally separate entities. With PoS the biggest holders will be exchanges and therefore exchanges will control the cryptocurrency. With PoS there will be clearly less decentralization compared to PoW.
How's that decentralized.
The times of home mining with CPU/GPUs are long gone
> Several teams of engineers are working overtime to ensure that The Merge arrives as soon as possible, and without compromising on safety. Overworking your engineers will most definitely lead to compromises. But good to see that Ethereum came to their senses and are serious about reducing the environmental impact they have.
No it doesnt. Having hard time/budget/whatever constraints does. Otherwise, theoretically you can "overwork" i.e. (work more than standard 40 hour weeks or some standard of work hours) whatever without compromise
That's simply not true. Humans aren't machines. Productivity falls off a cliff after 50 hours, and after 55 you may as well not even be in the office. There are diminishing returns with "overwork"ing.
[0] https://siepr.stanford.edu/research/publications/productivit...
Maybe this is a good time and place to ask - let's say I want to buy something using Ethereum. Is it correct that when I look at, say, https://ycharts.com/indicators/ethereum_average_transaction_... , you have to pay USD 20 just as payment fees? I wrote off Bitcoin as a payment mechanism a long time ago because of this (although it seems BTC tx costs are now lower than ETH?), is this the direction tx costs for all cr…
Which in the lights of the recent events sounds like: "pump us this time around!"
Makes you question: when would be a good time to address this, if they can't time travel to the day before Elon posted the tweet?
And I don't know the answer to that. Was this too soon? Well if they want to take the ride of Elon controversy, I don't think so. Is that a good thing? Who knows.