Bitcoin Forum

When is Ethereum supposed to move out of POW phase? 2017 or later?

Will there be a hybrid POW/POS middle stage or straight to POS?

Rumors are all over the place... Suggest you check out the Altcoin Speculation Sub-Forum

I don't know why eth have to switch to PoS , does anyone know the answer , is it something technical or it's just the dev. want to switch it , i can't understand this point

Because PoW is a waste of electricity.

which no one minds as per the current ROI rates for the rx480s i own..

It's better for the world and the environment.  But also, if the value remains high, and there is no reason to suspect it would crash very low, then sooner or later ASIC's will come along.  And ASIC's would probably mean consolidation of mining power in China.  I'm not knocking China, but consolidation in a single region or country is not a good thing for any cryptocurrency and certainly isn't helping BTC at all.  POS should also mean an increase in ETH value if DASH is any indication.  The incentive to hold lowers the supply on the market.  Now is a good time to start hording ETH.  I sure am.

Its not about ROI rates. Its about wasting electricity which causes pollution.

It is just a bluff to hold off asics.  It is never going leave POW and go to POS

and if an asic guy wants to spend money to build a miner he would be very wise to tell no one and just mine the coins.

Also Eth could be adjusted to only use 8gb cards if someone build an asic.

We are in the age of gpu/pc vs asic

A lot of major companies are backing gpu/pc

Intel
AMD
Nvidia
Sapphire
Evga
ASUS
MSI
DIAMONDMULTIMEDIA
POWERCOLOR

and at least 50 other companies would prefer gpus/pcs to win over basics.


@ adaseb   power used to mine coins does make pollution ,but  the main issue for pollution is population of the planet

I am 60 when I was a kid there was about 3 billion people there are now over 7 billion people.


POS  is basically like interest from a bank I just don't see a reason to get 1 % or 2%  on my ETH-money since nothing backs it.

POW the ETH is backed by gear mining it and power consumed.

I hope you are wrong, but if that is the case it seems to have worked.  I always wanted a DASH masternode and I had acquired 300 DASH towards that end but the price of DASH has made it an impossibility that I will ever acquire 1000.  I don't know what the staking scheme would be on ETH but I am still hopeful that whatever it is I will have enough to partake of it if it does go POS.

I think ppl playing android games and pc gamers are burning far more energy than miners worldwide , think of it we are wasting energy every minute ...ppl how say that pow is waste of energy are always lazy ppl want to deposit some money and get interests

No offense but the fact that you are in here making claims about pollution from people running computers is a f-in joke.  There is so much more wrong with the world than heat from a computer or electricity we use.  When you can get people to quit wasting fossil fuels and tell every single person that has a cell phone to get off them, then come back and talk about mining cryptocurrency causing pollution.

A few months ago I say calculations on an other thread and it was more or less august 2017

its because pos transaction is faster than pow, electricity or pollution is not the main problem, since pow cryptocurrency  are backed by energy, thats why it has a value since, miner spent time, effort and money to mine the coin, ofcourse energy spent is not just one reason why a coin has value, it is just one among other thing such as tech and usefulness

on other side pure pos currency are making money out of thin air, thats why most pos coin has less value than pow, because no energy backed it, just a usefullness

but to be noted that, ethereum was not built to become currency, it is a platform, thats why nothing wrong on using pos

great response, Eth value should remain constant after it goes POS becase the tokens actually are supposed to have other users than just storing value.

First up the POS switch won't happen in the days of good profits, so don't worry about it.

The devs would like to see the switch by the time supply is around 100'000'000 coins so that would come in at the end of the year.  In other words difficulty will have caught up by then and mining profit will (possibly?) be right back in the shitter like it was a month ago.  We are talking about 1 million plus gpus on the ethereum network hashing away, which is insane to think about (we have 550k now).

They have also said that they would like but there is no promise of making the switch this year, there are a ton of factors involved and making sure the POS will be safe and secure.  I have to question why they would risk a 5 billion dollar tech on doing this...greed.

The argument of going POS to save the earth from the electricity is bullshit devs use to mask their real motives..greed.  They want to drop the emission rate, encourage users to lock their coins up in hopes this will cause a market rally that will benefit investors and holders.  The whole thing could blow up in their face and crash the market if there are some exploit in the code talented hackers could take advantage of.


tl:dr  Look for news late summer that pos is fully ready or they will be making an extension on the bomb and possibly an emission rate reduction.

PoS is a mistake, it will never be more secure or more energy efficient.

But Ethereum is kinda hostile to miners, and the people who have the big holdings of ethereum want to get the mining rewards for themselves so PoS is always pitched as "better".

It's hard to say when. We must consider performance in other algos when buying GPUs, not just eth.

They can do combined PoS + PoW, similar to Decred.

guys POS is on the road-map of Ethereum since day 1

Ethereum has a buildt in difficulty bomb that will remove all mining eventually. It's in the code, and to avoid it they need to hardfork..

I thought the time bomb has been delayed several times.

Yeah, that's clear.
Do you know what this bomb will go off?

It will not go off for some time.

I think this bomb was made for asics , to keep asics away and also it maybe real but it will only fire if the difficulty rocket up due to asics , i don't think eth will turn pos no while it's gpu minable ,not while it's 2x profitable

I do not think so. The bomb is to force to change to PoS.

There will be chaos if ETH goes to PoS.

As Phil Ma pointed out 1% - 2% ain't going to cut it. A law of finance is that the yield reflects the underlying risk. T-bills are about 1% and home secured mortgages are about 3.5%.

So the PoS phase, the financial yield in owning ETH tokens is between t-bills and a home secured loan?

I think it will be lower than the Tbills as it is safer.