Am I right that majority of video card miners are mining Eth? Does it mean that when merge happens, we ca expect video cards be available to buy again?
Ethereum will use around 99.95% less energy post merge
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Re: Ethereum will use around 99.95% less energy post merge
#152Good. Very good. This may be a radical take, but I think nations should introduce some unprecedented legislation: ban trade of proof-of-work cryptocurrencies. Don't ban their trade because they make poor financial products, either because of rampant fraud or criminal activity. That's a different argument and requires different approaches. Ban their trade because global society shouldn't accept rampant incentives to l…
Many industries do a lot of harm to the environment for profits. On the spectrum of those, where do cryptos fall?
I don't know and personally hold only a little bit, nothing I would be very pained to lose, but it would certainly cause a lot of economic harm to a lot of people to do what you propose. The idea cannot be taken seriously without first answering my question.
Re: Ethereum will use around 99.95% less energy post merge
#153If there was a way to verify the power source is green I think PoW would be the ideal way to move forward. For example if electrons generated by photoelectric cells somehow were different than other electrons (quantum spin, parity, etc.) then maybe an algorithm could check for that and only accept blocks mined using these electrons and not others.
Re: Ethereum will use around 99.95% less energy post merge
#154What are the attack vectors on PoS. With PoW you need 51% of the mining power to take over the system, which is very labor intensive to set up. With PoS could you take over all coins by buying 51% of the existing coins? So if the market cap of ETH is 200BB spend 100BB to double your money?
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Re: Ethereum will use around 99.95% less energy post merge
#155Ethereum is winning every crypto/blockchain narrative. This is super impressive and proves, once again, that real value is where devs are.
Re: Ethereum will use around 99.95% less energy post merge
#156Good. Very good. This may be a radical take, but I think nations should introduce some unprecedented legislation: ban trade of proof-of-work cryptocurrencies. Don't ban their trade because they make poor financial products, either because of rampant fraud or criminal activity. That's a different argument and requires different approaches. Ban their trade because global society shouldn't accept rampant incentives to l…
If the government wants to put a higher price on energy or carbon, it should do so. But it should not be the arbiter of what's a worthy use of energy expenditure.
I could see a lot of people make the argument the production of a lot of energy intensive goods is not worth-while.
Re: Ethereum will use around 99.95% less energy post merge
#157Will this reduce fees? I've heard it was a big problem with eth.
Re: Ethereum will use around 99.95% less energy post merge
#158So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?
So I'm more familiar with how Cardano and Polkadot do their POS rather than Ethereums. In Cardano since the entry level requirement to operate a stake pool is much smaller than it is to do something like Bitcoin mining, it creates a larger number of stake pools. There's also a soft limit on the size of the stake pool that encourages people to spread out their commitment so no one pool gets to large.So at least in the…
How do they prevent impersonation? There's no way a cryptosystem can prove that two different people actually have two different keys. If I want to pwn Cardano/Polkadot, don't I just need to run a bunch of different staking keys?
Re: Ethereum will use around 99.95% less energy post merge
#159Good. Very good. This may be a radical take, but I think nations should introduce some unprecedented legislation: ban trade of proof-of-work cryptocurrencies. Don't ban their trade because they make poor financial products, either because of rampant fraud or criminal activity. That's a different argument and requires different approaches. Ban their trade because global society shouldn't accept rampant incentives to l…
I cringe every time I see such comments. Ban bitcoin or ban beef because it uses too much energy.
Humanity will continue to require energy as it advances and banning anything "because it uses too much energy" is a ridiculous advice. How about we ban gold mining, or set quotas on the number of children people may have, that will surely contribute to our CO2 reduction goals. It's also Orwellian and reminiscent of how the world looked like for citizens of the USSR back in 1960-1990
Re: Ethereum will use around 99.95% less energy post merge
#160I was fairly into the space in 2014-2016 but stopped paying attention the last few years. It seems like lots of theorized applications actually exist and have a proof-of-concept now. If I’m building a marketplace business in 2021, where I want to be “crypto-first” instead of relying on PayPal and Stripe Connect, where do I start? The marketplace sells access to resources with an off-chain ACL system. It facilitates t…
This is a great solution called zk-rollup (zero knowledge rollup) https://zksync.io/
It is just as secure as the base chain (unlike polygon) and has low fees and has been live for the past few months. This is a perfect solution to simple payments.
The difference between optimistic rollups and zero knowledge rollups is that you can’t deploy arbitrary smart contracts to zk rollup, it only supports a limited set of use cases, such as simple payments for now. Read more here https://vitalik.ca/general/2021/01/05/rollup.html