Bitcoin Forum

Hi, Just saw youtube video from voskcoin stating that ethereum block reward is goin to be reduced by 2.

how do you think this will affect the market and what about the network hashrate which eth has do you think it will reduce

what will be the next best  coin which can  compete with ethereum

do you think ethereum will fall down after this update

I don't think it will affect the drop rates as they are and there's nowhere below ! But the competition he has and I think it's EOS and NEO but I also think that they will not be able to beat him .

If block reward is reduced, the Will theoretically raise, because there will be less coins from the miners to sell.

However, eth is dropping hard now. Let's see how it goes.....

I think Eth block reward decrease is scheduled to October. Current ETH price is kinda low atm, not the real value of the promising coin... fork should help a bit...

Not reduced by 2, reduced to 2. That's different. Currently it is 3 ETH, they propose to be 2 ETH.

This is just a proposal by some Ethereum developers, it's not a final decision. If it gets accepted, it won't be before the Constantinople fork is finished, which is scheduled for October (https://medium.com/futuresin/ethereums-constantinople-hard-fork-to-go-live-in-october-8d9ce7d8a0b8).

Obviously, the main reason for this is to fight inflation, which is already too high in the Ethereum network.

Yes, I think so . There are some big storms coming up next because of this update and many miners has no profits but maybe Asic hardwares will appear to make ETH deeply down . I can see some panics of selling ETH coins in this weekend due to bad rumors.

I think people are very worried about Ethereum. They have achieved many achievements in 2018. The price of ETH has just decreased recently. Let's hope for the future and ignore the past

As far as I know, this was discussed, but not accepted. So don't jump to conclusions. Ethereum has a lot of competitors, one of the most promising is Zilliqa

Friends, tell me, please, what it means in practice. I can't understand this technical question. Is it good or bad? Will it increase the cost of transactions? Will it bring down the miner's interest to ETH? Give me detailed answers, please, if you know :)

It will be affecting the market especially on its price but so significant. so many people expected the difficulty to be reduced from 3 to the 0.6
i thought that the price of ethereum will remain stable at this rate. Basically it's still a little update compared with EIP 1011 that has been issued by core developer of ethereum.

Do you think the EINC Fork will be of any help? Is it really a fork or just a plain copy of Ethereum?

NEO and EOS are also good competitors, but Dan Larimer and his team have to get their act together for EOS to compete with ETH.

Maybe if now the eth price is very low but it is likely that a few months the price will rise. If now the prize might be reduced to a few months

In recent time ethereum position is below standard because peoples are not showing any interest about this coin because of price falling. I believe ethereum will recover their current situation.

I think this reduction can affect the market of the ethereum negatively as this will reduce the motivation of the miners to do mining here. This can make reduce their market share so utmost concern needs to be given by the team.

Actually such sudden reduction when the market of ethereum is low can negative affect the market. It will make the miners frustrated and their market can be collapsed. But as far as I know the proposal is under discussion and no declaration of such reduction has come to the market.

Well the investors in the market are concerned about ETH, but this coin will get the rise in the market again. The only uncertainty is when that will happen. We just need to be a bit patient ad wit for it.

I think the aether will regain its position. So as on live written millions of projects. And huge amounts of cash have been invested. The usual time bounce is waiting for us. There was a small market correction. A relatively short period of time. Around the time of 9-11 months. The price beat its records up and now gets to the lowest points. All systemically. We need to calculate the lowest price. And shopping.

Yeah nearly all crypto coins do reduce their mining reward with the time going on. This leads to an rising Price if the demand stays the same

Reducing the block reward to 2 is a good idea to curb the circulating supply. I'm not sure if it would be enough to maintain it's value because 100m in circulation is already a lot then again I could be wrong though.

With cryptocurrencies' volatility it doesn't.

Change is good. When asic resistance was introduced to monero its hash rate went down by 80%. It'll surely bring down a lot of miners after the fork then the remaining miners would just continue to mine as the difficulty adjust like nothing happened.

Ethereum fork may occur in Next month then it might decrease its reward from 3 to 2 ETH. I support this decision because it will decrease the circulation supply while the demand remains the same, so in theory, a price should increase. But the situation is very bad for ETH, only time can say what will happen, let's hope for the successful fork and a new beginning.

In case you haven't really noticed or did your research, this is just a proposal right now, there's still no truth to this and it's still unsure that whether it will be implemented or not. But, if it happens, it will help the ETH market to become stable again but, miners will be in a tight situation because of the block rewards getting reduced.

"I tried Etherium out a few months ago. I though, ""Great! First I'll try building a wallet from code
examples"". Then, I found out that launching the application would cost about 50 cents when
converted from Ether and now it must be a lot more and also that each transaction would have
to be paid for. That put me off straight away and I haven't touched it since."

I don’t believe that this is affect the drop rates. As I know the eth block reward decrease the schedule for next month. Current ETH price is low but it will increase in future.

Indeed in spite of the fact that it had ups and downs circumstance Ethereum survived this distant. I accept sometime in the not so distant future it'll pick up more victory. They moved forward cleared out all past awful times.

"I don’t think price will be effected. Ethereum had already many competitor in the crypto market.as an investor I don’t think they will beat ethereum.
"

Ethereum had as of now numerous competitor within the crypto market.as an speculator I don’t think they will beat ethereum. I don’t think cost will be affected.

If the ethereum blockchain reward is reduce, I don't think it will affect the price. See the bitcoin price the lesser the supply the higher the price. I hope ethereum is like because that is the fact that if the supply is low, the price is high. Let's see what will happen after it.

What i know, ETH has no max total supply in coinmarketcap, so why they want to reduce the block rewards ?
And if they reduced their reward, the price will rise instead falling down because the miners will get 2/3 of their current mining profit.

It's really your opinion and the same thing with Bitcoin in mine is getting scarcer and miners are cut for payment.
But once again I say that the market cannot be predicted.

You cannot be surprised at this, the more popular a coin gets and the more people are investing in the project then the more the rewards for the block becomes. The harder it is to mine the coins. This is normal, it is common knowledge. As more time passes and as more people get involved in the projects then the coins are going to give even less rewards. Just look at bitcoin

There is no way this won't happen because of the inflation rate of Ethereum can not continue this way, I think  because of the slow in transition from the POW to POS  they need to act now to defend the price, what they plan as that since POS is going to result in people locking up tokens to defend the network, there won't be any reason to dump even the ICO developer would be incentivise to lock up their tokens and not dump which would eventually help push the price up

Tom Lee, who is also a partner and research manager at Fundstrat Global Advisors, said that Ethereum is going to change the trend very much and begin to grow even with the decrease in rewards for miners. I hold his opinion!

Seems like ethereum's fork can be happen next month and block reward will be reduced . I think it can have a possitive effect on ethereum's price , because eth inflation will decrease . But of course it's not guaranteed and the market may not respond to this fork and the price will remain the same .