Earlier quoted context omitted.
No
No, if you're just an owner. If you're a miner though... that's a whole different story.
If you have ETH but not use any wallet, should you do something?
Ethereum just activated its ‘London’ hard fork
151–160 of 205 posts
Re: Ethereum just activated its ‘London’ hard fork
#152Earlier quoted context omitted.
If not, you should name it yourself. The Ellie Kelly effect - whereby any mention of a flaw in a cryptocurrency is met with a rebuttal of the one true cryptocurrency, usually obscure and with little traction.
If only the transaction confirmations were as fast as these responses usually are.
Ellie Kelly Crypto Comment Effect
Has a nice sound. Good job team.
Re: Ethereum just activated its ‘London’ hard fork
#153Earlier quoted context omitted.
Is there a law of the internet describing the phenomenon whereby any comment criticising cryptocurrency will promptly elicit a response comment proffering a cryptocurrency that's somehow different and "not like those other cryptos"?
If not, you should name it yourself. The Ellie Kelly effect - whereby any mention of a flaw in a cryptocurrency is met with a rebuttal of the one true cryptocurrency, usually obscure and with little traction.
+1 for "Ellie Kelly effect" -- a wonderfully rhyming and memorable name for the phenomenon. :)
Re: Ethereum just activated its ‘London’ hard fork
#154Does that mean Ethereum is no longer an environmental disaster?
Re: Ethereum just activated its ‘London’ hard fork
#155Earlier quoted context omitted.
Same here, market(s) over time will be cornered without control policies that counter monopoly.
This is why I think XRP will ultimately be a winner. No mining, no staking, just validating transactions.
I think XRP will go down as history as the earliest notable shitcoin.
I wrote it off years ago. Is it doing anything with real utility yet?
Re: Ethereum just activated its ‘London’ hard fork
#156Does that mean Ethereum is no longer an environmental disaster?
No, the move away from proof of work is another fork scheduled for a few months from now.
Re: Ethereum just activated its ‘London’ hard fork
#157Does that mean Ethereum is no longer an environmental disaster?
No, this change just makes fees less volatile. The environmental fix is expected to come sometime next year- https://ethereum.org/en/eth2/
Re: Ethereum just activated its ‘London’ hard fork
#158Earlier quoted context omitted.
Same here, market(s) over time will be cornered without control policies that counter monopoly.
But "control policies" require by definiton the market to already be cornered by whoever is trying to control it. Without being cornered the market will be cornered?
Yes, but ideally that thing is "society".
As opposed to "a bunch of dodgy rich people"
Re: Ethereum just activated its ‘London’ hard fork
#159Earlier quoted context omitted.
> There is no way to acquire a permanent, unassailable monopoly over ASIC hardware in general. Is ASIC hardware made of silicon? In that case, an entity who owns the entire supply of silicon has a "permanent, unassailable monopoly over ASIC hardware in general".
I hope you're joking? Silicon is the second most abundant element in the Earth's crust, after oxygen: and only because there are two oxygens in silicon dioxide. If someone corners the market on silicon, Bitcoin dominance is the least of our problems.
OP's argument is that PoS is a problem because the supply of tokens is finite, and that PoW doesn't have the same problem because it relies on physical capital instead.
But physical capital is also finite.
Re: Ethereum just activated its ‘London’ hard fork
#160Can someone explain to me how PoS is not centralized? The whole point of crypto and the blockchain is decentralization, no? I feel like crypto/blockchain will end up looking nothing like how it was intended, and be regulated to the point that it's just the next iteration of the traditional banking system, where the current power holders continue holding the power. Maybe I was naive to ever think it would be any diffe…
How is it more centralized than PoW? I see multiple factors that hamper decentralization: - Fixed costs that act as barrier of entry - Economies of scale that lead to centralization - Geographic factors (operation costs being different in different parts of the world, regulation/taxation, supply chain...) This is how I see each factor playing out in both scenarios: - Fixed costs: PoS runs on consumer-grade hardware,…
Concerning economies of scale, usually AFAIK the more coins you stake, the more of a say you have in how blocks are propagated.
That's to me similar, if not worse than with PoW.