Bitcoin Forum

Is this ideal or let me use the word most suitable, I plan not to buy Ethereum until the merge is complete because

1. Its been years that we've been waiting for this merge to happen and there have been so many delays and postponements for the past years, I doubt things will go smoothly, what if something so catastrophic happens to Ethereum when and after the merge?. .this upgrade has not been tested yet so anything could go wrong.

2. Many exchanges already halted every Eth transactions starting from today and that's even on other chains as well, I think they knew anything could go wrong, even erc20 tokens can't be processed or sent when the merge is close am I right?

I am open to learning more about crypto, if you think there are things I don't understand please do correct me in a friendly way, God bless

1. Even if something catastrophic doesn't happen it could be instant "sell the news" -event where everyone has waited so long for the forked coins and possible price rising and when that happens, they dump the market. And even people not dumping will found out nothing special happens immediately they get bored and probably lot of them will sell.

2. That's just being cautious. They are dealing with very high marketcap coin with insane volume. If something WOULD go wrong, without backrolling the chain the damage could be worth billions.

3. What's happening now is a hard fork that prepares the chain for the merge.  The merget itself is happening around 13-15th.

For most people it's worth risking everything since at the end of the day of the merge is successful then people can actually use it to gain loads of profits as well thus its equivalent to take that risk and actually try and buy some eth and store it as well, I do think that for most people it would be better to be cautious and that's what most wallets and trading platforms are following but it can also be a missed opportunity as well.

I do think for the eth there is high chances that it would not only be successful but at the same time it would also increase the value overall. Banning the trading of it would also help stabilize the price before it all happens.

Also please remember that the countdown is not written on rock, it can change and it has been changing do we can still expect some delays. Also the expected release date is from 13-15th this month, so hold your horses.

It really depends on you when you want to accumulate Eth. If you feel risky then you may avoid buying. Every exchange like to save its user's funds. But it's crypto anything could happen. As you said merge isn't safe since not been tested, I won't agree with that. Everything must be tested before deploying on the chain. I haven't heard previously had an issue when upgrading or forking a coin. But it's your decision, do whatever you think is best.

I sold my coins a few weeks/days ago and therefore I currently do not have any Ethereum and therefore I am not following the news, but I expect things to go smoothly and that nothing random or irregular will happen with the prices rising after the merger. Buy once the success of things and before there is a rise in price.

The idea itself (POS) I don't think it is good in the long run so I sold everything I had.

1.  The upgrade had already been tested several times on the test net.  Developers are not that dumb to implement something that is not tested elsewhere.

2. They halted isn't because of worrying about the possibility of error of the network, they are halting because they wanted to avoid internal error of records and possible confusion or exploits.

There could still be some issues but they've delayed this for so long that I expect them to have fixed the major ones. Strange that you have to post this after exchanges halted trading for ETH. They even announced the plan to stop days in advance. It's not like you have a choice now but to wait hehe.

It's said as I've heard that the merge won't have an effect if you're holding Ethereum, still appear in your wallet so I don't think there's an issue before and after merging your coin.  Though there are possible changes and that's why I didn't want to hold my altcoins in the long term which seems risky IMO.

My advice is based on what I've read yesterday, be careful with the possible scam attempt instead.  Possible someone will ask you to transfer your Ethereum into their wallet to complete the merging process which is not true.

It's really up to you when you want to buy Ethereum and it's safe.

It looks like Binance and other leading exchanges have stopped the withdrawal of ethereum due to the merger. There is more chance of price bounce, and this isn't assured. For now no onchain transactions won't be taking place. This means the Dex platforms won't function. Possibly this can increase the market progress of ethereum. What is available within the exchange can be used. Lets wait and see the reality of the merge.

Loads of profits will only go to the whales, if you can afford 1 ETH for 1500$ then you will earn 2.8% of that since the ETHPow value is way lesser than Eth itself, 1ETH: 1ETH Pow and that's like 30-40$ on 1500$ lol, if I have less than 1 ETH what will happen? 🤣🤣🤣 not going to worth it for many.

On September 6, a successful Bellatrix update took place and now the Ethereum network is ready for a merger, which is already expected in a week. It should be remembered that in August, a merger was already carried out in the Goerli test network, which went smoothly. So don't worry, the merger will pass without problems.

That would be a wise move. We still don't know what would happen during the merge. One bad line of code would blow up everything. If that happens, they will do a roll back and everything happened during and after the merge will get erased. I am not saying it will happen but the chances will always be there no matter how slim they are. Better be safe than sorry.

To be on the safest side, it is probably better to convert your holdings to some other good coin like for example, bitcoin. You can convert them back to eth later on.

That's ok if it is your preference. No one forces you to buy before or after the merge. It's better be safe as they say and that's what you're trying to do.
Wait until the merge is done and have yourself decide again if you're totally okay with the status of the result and then start buying if you think that it's nice and good or wait until if you think that it's not yet that right and fixed.

I have the same thought, I already hold some ETH, and I wouldn't buy or sell it until the merge is done, only after that I would decide what would I do with my ETH. Currently it is still in the phase of 'sell the news' selling it now would only make me lose my money, and buying it wouldn't be a smart decision either because I haven't seen what is the effect of the merge, and how other investor react to it.

Best for you not to assume anything without any proper research. However most forum users already replied correct information with their replies. In the meantime, i would like to suggest you to go throughout the articles which are posted coingecko or coinmarketcap or any twitter thread where more information are available to enrich your knowledge. Thus you will have positive/correct perspective regarding ethereum or anything.  ;)

Isn't it been tested first on their testnet? I do agree that the mainnet might have a problem, but I don't think it will be catastrophic as you may have think.

This is just a precautionary measures, just like any other crypto's that have upgraded in the past. They halted all transactions until everything settles down.

You can still hold ETH on exchanges and nothing happens.

The price of ethereum after the merger may also collapse if those traders who bought ETH before the merger to get a free ETH PoW coin start selling it massively after the fork. It is very difficult to predict further developments, but the best solution would be to borrow ETH before the merger, get ETH PoW after the fork and pay off the ETH debt.

I am also not quite sure what to expect from Ethereum, not only in the near future but also in the long term one. I am not that deep into all the coding stuff and therefore i am no expert in what that merge really will bring execpt from the fact that Ethereum will no longer be a proof of work coin but a proof of stake coin then. I do think though that many users may have exaggerated expectations to that merge and what it will mean in regards to transfer fees on the ETH chain.
I can imagine that some people could sell off their ETH if they realise that the merge did not have the impact on the transfer fees that they would have expected.
On the other hand ETH is so big now that i think it is almost impossible that it will lose relevance and that it won't be a top 5 coin in a few years anymore or something like that.

Many people assume that once moving to POS, ethereum will become more centralized and will be managed by whales and exchanges, the price of which can be more easily manipulated. But upgrading to POS of ethereum is really necessary as it has become very slow and old, scalability is not available, especially gas fees hinder eth development. Moving to POS, eth will be more eco-friendly as it reduces energy usage by up to 99% and token deflation will also make eth more scarce, thereby boosting the price of eth.

I don't worry that much about the ETH merge. There are many speculations about it not going down and I think I think it won't be a catastrophic event. As we all know, ETH merge has been delayed for years now and I'm positive that they won't release a disappointment after that long delays. They have tested it multiple times on testnet and I'm sure problems might occur but it won't be that bad that they will go down after the merge. Transactions halts on the blockchain is pretty much expected and understandable since they will make a very big move about their blockchain.

I can see a lots of investors are aping into Ethereum because of the merge that had been trending online and everyone is preparing to make some good profits before the bull will arrive looking at how volatile the market will be.
Well Ethereum will be more eco-friendly soon and the POS is a better option for every Ethereum investors which will finally reduced the high network fee people had been battling about to be lesser and stable.

There will be no postponement for this, they are set for this update and many are quiet confused about the upcoming merge. Again, this merge will not solve the problem on higher fees, though this can solve the energy consumption of mining which can also benefit many from this. Let’s wait and hope for the success of this merge, this can trigger the bull trend button and we might see the market reacts on this.

Believers in crypto and Ethereum specifically won’t sell their any amount of their assets and they choose even to buy more of it and take the good risk and have a big faith on this comming upgrade, the proof that we didn’t see that big drop of price after all. The next stage is coming in these next days so i suggest if you believe in Ethereum to buy some of it now

I think they've already given a set of days for the update so for sure there will be no postponement. Yes, it is very clear and the made sure that this misconceptions about the fees are going to be solved when they upgrade.

If there will be a bull trend,  probably it will not last that long. Market is still in the bearish state, so anything that might look like a bull run could be just artificial pump due to some news.

This misconception can really play against ethereum, many people actually believe that the current upgrade is going to help resolve the issue that ethereum has with the fees, and once this doesn't happen people are not going to be happy about it and it is likely a FUD campaign could start against ethereum and people will begin to complain about the update being useless, now I hope this doesn't happen but I do not see how speculators could let go of an opportunity like that.

well it always depends on you, but as far that I know if there is something go wrong they can rollback the chain. but offcoure it will take effect to price of ethereum

so far so good the postponed delay i think to make sure that everything is fine

I doubt this will happened since Vitalik didn’t do roll back before during DAO hack due to smart contract flaw because it will affect all the transaction occured. I think forking the new token is appropriate on this scenario if they want to fixed a major flaw on the smart contract without affecting all the transaction before they figure out all the bugs. Your suggestion is only possible if there will be no transaction done prior the discovery of the bugs.

I think you are as confused as the others, most people are misinterpreting the ethereum upgrade. After many delays, the ethereum upgrade will be completed on 9/15 but the upgrade to POS still cannot make ethereum network fees cheaper as people think, but only helps ethereum reduce energy consumption like me said. The network fee reduction and block expansion for ethereum will improve after ethereum receives the sharding update. For ethereum, sharding is the most important update.

I am happy with ETH Coin. however There are a few things with ETH to be aware of, the main one being that to run the ETH network you need ETH which means that basically the miners are the owners of the ETH, currently the miners are holding more ETH than is needed to run them. nodes and perform transactions so that they can always choose to pay themselves large amounts of cash without impact.

Whether ETH will become another Imclone and become a global currency, I will be excited to hear about this once The final Phase before the merge to proof-of-stake is complete. For sure you have to be sure that the exchange you are using will support ether after the Ethereum network update.

that is true, most people are hoping for the gas fee to significantly go down after this upgrade. and if they won't see any progress in terms of fees, i am also seeing that people will throw negative criticisms towards eth network. people should educate themselves so they won't expect much from this upcoming event. anyway, at the end of the day, it is the prerogative for the people to invest more or not on eth. but whatever happens next, they should not blame anyone.

The fault lies with themselves, this whole upgrade process has been very carefully prepared and the ethereum development team has never mentioned reducing transaction fees in this upgrade. People have not updated this news, as an ethereum investor they should not ignore such important news.

If everything goes as you predict, people will dump ethereum, to be honest, I haven't thought of this Fud yet. This is our next chance to get cheap ethereum, I expect it to drop below $900 again.

As for the long-term forecast of Ethereum prices, everything is more or less clear here. Due to the transition to POS, the inflation of the coin will decrease, since taking into account the burning of ETH and the fact that there will be no remuneration for miners, it may amount, according to some estimates, to only 0.22%. So the value of ETH should only increase in the long run.

I believe that they will do everything in their power to make sure that they can keep it rolling no matter what. Also the idea that Vitalik could roll it back is a mistaken one, ethereum is a decentralized project and NOBODY has any control over it, vitalik can't roll it back if he wanted to, we could all "offer" a rollback and if it is accepted then it would be rolled back, but if it is not then it won't be.

The only good advantage that Vitalik has is that he is known as the godfather of eth so if I offer it people may reject it, but if he offered it then people may accept the same thing because of his influence, but it still needs to be accepted by all.