Bitcoin Forum

The Ethereum blockchain network will transition from a proof-of-work (PoW) to proof-of-stake (PoS) consensus algorithm
what do you think, With the upgrade (https://www.tribunnews.com/new-economy/2022/08/25/penjelasan-tentang-ethereum-merge-ihwal-transisinya-dari-pow-ke-pos), will Bitcoin be threatened with shifting to Ethereum.

Real Vision founder Raoul Pal somehow believes ETH will outrank BTC in the next bull market. It's quite a shill if you ask the BTC maximalist but with the money coming from the macro environment, ETH believers think it has some grain of truth to it.

Gradually, congress right now seems part of suppressing BTC through the Bitcoin mining ban already, with this law I personally think there will be miners who might lay off.

I think bitcoin remains on POW and will not follow in the footsteps of Ethereum moving to POS even if their merger was successful, we all don't know and see the success of the merger, so just waiting for something great to come from ETH but I need to remind you that success ETH will not surpass Bitcoin

It has nothing to do with bitcoin. Ethereum was trying to implement EIP that will be used to fix its problem. It will not give any impact to the bitcoin and otherwise bitcoin will not give impact to the ethereum. If you are expecting ethereum consensus change will give a huge impact and that's wrong.
The problem that faced by ethereum has been exist since a long time ago and this already predicted by so many people and speculators.
Just let the update to be done first and then we can speculate what's gonna happen next

I came here specifically to see the miners cry, and I don't feel the slightest bit sorry for them because they now understand how we gamers felt during the gpu shortage without having to lose hundreds of dollars in the process, hahaha.

Nope.

That's the real answer for your question because by no way, bitcoin isn't going to be threatened by it. Look at the US, they're having a proposal that they're going to ban proof of work.

It is because POW is the threat to them and not POS. It's more securing to the network, so there's really nothing to worried about for bitcoin even if ETH's going to have that merge.

I do not believe that it will go above BTC that easily, it will take a while before it could do that but I believe that it is possible and people are overreacting on it. Just focus on the fact that bitcoin is the first one, and eth could get close to it at least, could it go above it? Possible, I believe it is possible but even if it doesn't, what if it just gets close to it?

Right now, if you check the marketcaps, it is under 2x difference, meaning if ETH goes 2x higher while btc stays the same then eth will be over it. Even if it doesn't happen, what if it is just 20-30% difference instead of 100% difference? That's still quite good.

the chain will split with though so in case ETH POS will not work,  investors can always go back to the ETH POW. that is sort of a back up plan for everyone in case this shift to energy friendly ETH will flop.

for the obvious part, nothing stops the stakers from selling ETHpos which i really believe will fail. while POW makes the miners aim for higher prices because of the energy cost.

I feel sorry for people who take pleasure in someone's problems. Sooner or later you will have problems with stomach ulcers, liver disease, or heart disease just like most spitfires have. just love and be loved. I'm also waiting to build my gaming PC for last 4 years but I'm not about to blame miners for it and do "hahaha" when their business is going to go extinct.



That could be said only by someone who knows about eth and btc only. The guy is talking about BTC maximalist not realizing he is a ETH maximalist. Before merge ETH was the most secured smart contract platform. It was expensive and slow but the most decentralized and safe. That's why it was not already killed by BNB,SOL,DOT and others. People chose to pay more for extra safety and decentralization. Now, after switch to POS it will have to compete with other altcoins on completely different level. So surpassing BTC is as possible as losing with BNB,SOL,AVAX nad dozens more and going down below top 10 CMC because ETH just gave up on the biggest advantage it had over other SC platforms.

Possible but I don't think that it will happen. Let's just think of any possibility but going with the reality, it is very unlikely. The changes that ETH is getting are essential and have to happen and as for bitcoin, it will stay no matter what the changes are for the projects like Ethereum.

The market dominance for ETH and BTC is 2x and yeah, that's not really bad at all and it only shows that these two are reigning in the market. There's no need for any comparison between these two, they're like queen and king of the market.

This will be only Proof-of-work (PoW) versus Proof-of-stake(PoS) battle, a consensus battle.
But overall, we all know that Bitcoin got different functions from Ethereum, they work differently. For me, no threat to Bitcoin at all as Bitcoin will still be Proof-of-work(PoW).
Maybe only the price? If Ethereum PoS will be good after some time, we may see a huge spike in the price of Ethereum, a huge percentage pump compared to Bitcoin. But overall, this Ethereum PoS a positive effect for cryptocurrency market.

Obviously bitcoin remains PoW. The whole point of bitcoin is that it has survived the test of time as PoW. If government bans it, it most likely moves to undergroud, where the liquidity would be way worse and trading against Fiat Money pairs would be banned.

Turning to PoS would mean changing radically Bitcoin's code to whole another coin and that seems very unlikely as even smallest changes to code are avoided as they could compromise the code.

But as Bitcoin trading would go to undergroud p2p, it would lose marketcap status by a landslide to others, and it would slowly fade as an old king.

I think the battle between the pos and pow are already been there ever since before because there are already coins which are based on pos but the consensus in cryptos are not only limited to two. Let us not forget that there are also others out there like poa and poh (only to name a few).

Each of them has their own advantages and disadvantages so we can't say that one can take over the other but all of them are only equal. Maybe eth will pump good after the transition but that shouldn't last long and the price will normalize again. Btc on the other hand can always catch up and will take the lead again once eth is done celebrating its new form.

With this upgrade, the potential dominance of Bitcoin will be threatened to shift to Ethereum. After The Merge, which uses PoS, it is predicted to be faster and able to process up to 100,000 transactions per second.
Meanwhile, Bitcoin still operates on a PoW mechanism, with high energy usage, slow speed in transactions, and also low scalability.
If the upgrade to Ethereum 2.0 is successful, this could lead to the PoS platform gaining popularity compared to other PoW-enabled cryptos like Bitcoin.

Yes, thank you for your input and advice, I agree with you, my logic also thinks that the success of Ethereum (ETH) will never surpass Bitcoin, because as far as we know Bitcoin is the parent of Altcoins, so it is very unlikely that it will poses a threat to Bitcoin, despite various improvements to the Ethereum Blockchain network that will transition from PoW to PoS.

In no way can Ethereum outperform Bitcoin, even with the successful transition of Ethereum to Proof of Stake, it will not be able to outperform Bitcoin, of course it is possible that we will witness a significant increase in the price of Ethereum and important successes in the future, but it will not reach the level of Bitcoin, despite the increase Press Bitcoin Mining I see Bitcoin will always be #1.

there will be no influence or threat to bitcoin, i can assure you of this
after merge will not make ethereum faster and more scalable you should update your knowledge, the merger only helps ethereum move to pos, helping eth reduce energy use by 99%, eth needs the next update to be faster and scalable, but it will take a long time

using pow causes bitcoin to face some obstacles like you mentioned with coins that use pos but in return pow makes bitcoin more decentralized and secure which is what people are looking for, no must be something centralized like fiat.

Ethereum is certainly not going to overtake Bitcoin in coming months or years because it is primary crypto currency & most decentralized  and enjoys confidence of Investors all over the world. If merger is successful and it starts attracting funds in DEFIs built on Ethereum network then we might  see massive gain in its price in the long term but it will not happen overnight.

If PoS would fail as you predict, that "backup" wouldn't be worth anything anyway because anything that eth devs has even touched would come crashing down. Also that "higher energy cost, higher prices" -argument isn't that solid when energy cost is too high, govenrments would step in and make all eth pow fiat pair trading illegal. I am assuming that's what's happening to bitcoin soon when ever the energy for it gets too high and officials can't look another way anymore.

Although it is always possible, it is very unlikely in this case. In light of the upcoming Ethereum merge, let's take a look at what's happening now. It is impossible to find the next block because the PoW difficulty adjustment is set to an extremely high level. The upgrade is incredible on a large scale. Naturally, I'm sure there won't be any influence or threat to bitcoin. Regardless, what is the next coin miners will mine once Ethereum becomes proof of stake? As long as one of the coins does not rise quickly, keep an eye out for which is the most profitable at the moment.