Given that the merge reduces the electricity cost for new Ethereum by ~1000x, won't the price just tank in a race to the bottom?
The Merge
11–20 of 414 posts
Re: The Merge
#12Curious: will it be more energy efficient?
Quote The Merge will reduce Ethereum's energy consumption by ~99.95%.
Does the merge come with any real world benefits? Besides now not needing the yearly power consumption of Belgium.
Like... Can i buy bread and milk with this thing any time soon?
Re: The Merge
#13> The Merge will reduce Ethereum's energy consumption by ~99.95%. That's something Bitcoin needs ... or even better get rid of it altogether. https://ccaf.io/cbeci/index https://digiconomist.net/bitcoin-energy-consumption/
Proof of work is the only way to get acceptable security properties for a monetary system. Proof of stake suffers from the "nothing at stake" problem, leading to grinding attacks etc.
> Proof of work is the only way to get acceptable security properties for a monetary system.
Every country's financial system: ahem.
The U.S. dollar doesn't require giant energy-hungry server farms to be secure.
Re: The Merge
#14> The Merge will reduce Ethereum's energy consumption by ~99.95%. That's something Bitcoin needs ... or even better get rid of it altogether. https://ccaf.io/cbeci/index https://digiconomist.net/bitcoin-energy-consumption/
End the FUD https://endthefud.org/
Re: The Merge
#15No post body was provided.
Re: The Merge
#16Earlier quoted context omitted.
Quote The Merge will reduce Ethereum's energy consumption by ~99.95%.
Does the merge come with any real world benefits? Besides now not needing the yearly power consumption of Belgium. Like... Can i buy bread and milk with this thing any time soon?
From TFA:
> Misconception: "The Merge will reduce gas fees."
> False. The Merge is a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees.
> Misconception: "Transactions will be noticeably faster after The Merge."
> False. Though some slight changes exist, transaction speed will mostly remain the same on layer 1.
Re: The Merge
#17Earlier quoted context omitted.
Proof of work is the only way to get acceptable security properties for a monetary system. Proof of stake suffers from the "nothing at stake" problem, leading to grinding attacks etc.
> Proof of work is the only way to get acceptable security properties for a monetary system. Every country's financial system: ahem. The U.S. dollar doesn't require giant energy-hungry server farms to be secure.
The U.S. dollar is backed by a military many times more energy intensive.
Re: The Merge
#18Earlier quoted context omitted.
Proof of work is the only way to get acceptable security properties for a monetary system. Proof of stake suffers from the "nothing at stake" problem, leading to grinding attacks etc.
> Proof of work is the only way to get acceptable security properties for a monetary system. Every country's financial system: ahem. The U.S. dollar doesn't require giant energy-hungry server farms to be secure.
Granted, it is not a server farm, but the US military isn't exactly carbon neutral.
Re: The Merge
#19Earlier quoted context omitted.
Proof of work is the only way to get acceptable security properties for a monetary system. Proof of stake suffers from the "nothing at stake" problem, leading to grinding attacks etc.
> Proof of work is the only way to get acceptable security properties for a monetary system. Every country's financial system: ahem. The U.S. dollar doesn't require giant energy-hungry server farms to be secure.
Does the army and law enforcement not use energy?
Do banks not have server farms?
Re: The Merge
#20Poor miners. /s
I can't tell you how much I enjoy refreshing these crypto threads. Comments are turning from black to gray to black again like I'm at a disco.