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I suspect such long term scenario:

ETH will jump into PoS in 2017, as planned
ETC will stay at PoW ("ethereum core" miners will jump into it)


that will be quite funny to observe this battle... :)

You sure it will stay PoW? IT will need a fork to remove the Difficulty countdown.

PoW is proof of work, am I right?

What is PoS?

https://en.wikipedia.org/wiki/Proof-of-stake

Proof-of-stake (PoS) is a method by which a cryptocurrency blockchain network aims to achieve distributed consensus. While the proof-of-work (PoW) method asks users to repeatedly run hashing algorithms or other client puzzles to validate electronic transactions,[1] proof-of-stake asks users to prove ownership of a certain amount of currency (their "stake" in the currency). Peercoin[2] was the first cryptocurrency to launch using proof-of-Stake. Other prominent implementations are found in BitShares, ShadowCash, Nxt, BlackCoin, NuShares/NuBits and Qora. Ethereum has planned a hard fork transition from PoW to PoS consensus. Both Peercoin and Decred[3] hybridize PoW with PoS and combine elements of both consensus approaches in an attempt to garner the benefits of the two systems and create a more robust notion of consensus.

In the short term ETC will absorb some of the ETH hash rates so profit will last a bit longer.

As a miner I don't see a negative.

eth is so solid i love it

Piece of Steak


You know a miner is hungry, he need to eat after a long work  ;D

I'm not sure, I suspect that
(just to attract GPU miners in case of ETH PoS)

can someone explain how can that link get 1000Mh for a rig??? thats asic?
http://etc.nanopool.org/account/0x4e106ae50153fd6954e04cbc8eac6d44afdb375b

http://etc.nanopool.org/account/0x4e106ae50153fd6954e04cbc8eac6d44afdb375b/0x4e106ae50153fd6954e04cbc8eac6d44afdb375b

you can mine with many rigs against single worker, maybe that's the answer

Multiple rigs all set up to point to the same worker.

 I could easily have a "250MH" worker if I reset my current mining setup that way.

He might use a proxy. All his miners point to that proxy. That proxy connect to the mining pool. That is it.

are true mining ethereum with asic miner?

also 1G is not that impressive, you can do 200MH with a single rig

i think Ethereum most this moon and next.
people say pow pos pow pos hahah... i dont care

 There has been NO sighting of a legit ASIC for Ethereum - and given how soon they plan to go to PoS, I doubt there will ever be one.

What a great plan from ETH devs that they convert into POS instead of POW..
Well better to mine ETC if it will happen..

I do not see ETC taking over the game from ETH, the coin's popularity is due to the reputation ETH has built over time and ETH developers will definitely not allow their coin to slide to second place.

Does anyone know what is going to happen with the "ETC" when the original PoW phase end?

I started mining ETC last night and woke up thids morning and found i had only mined 0.005 eth so ive decided to jump back onto ETH. I dont know why my shares where so low. I would have thought i would have made almost a full eth in that time so unfortunatly its justr not profitable enough for me to mine atm. If they do switch over i will go back to mining ETC just so i can keep taking some profits though.

Have you checked your rejection rate? I used the nanopool, for the nearest nanopool, the rejection is 24%.

I've not checked.  I will have a look when i get back because I'm not even sure what pool it was on now.  I wad expecting about 1 eth every 24hrs though to break even with what i was earning with ETH.  I will take another look tonight and if i can will deal back over to ETC.  Id rather mine the original chain.

even if ETC will only clone every modification from ETH, except PoS,

that single small difference, i.e. ETC PoW versus ETH PoS - may slide ETH to second place, regardless of any defend attempts

let see and waited what will happen tomorrow. and for sure, if that happen then the market will be panic. need more money to get start mining eth.

It'll dissolve into a P.O.S. That will become just another memory

I can't imagine if ETH down under 0.01 btc.. Btw.. I'm holding some of ETC and a lot of ETH when the price was 0.0075 btc...

I am using this calculator  https://www.whattomine.com/ and mining etc

It depends on the community support for the ETH. If there are many application development based on the ETH, the price will rise.

The ETC or the Ethereum Classic has declared that it is independent from ETH. So it has fewer developers for now.

Is Eth good to invest in?

batle ETH vs ETC
iam choose ETC

Are you a miner? Is so, there is no need to choose between the two. You can just mine the more profitable coin. That is what I am doing.

For miners, it is better to mine the one you like and keep it for some time. If you do not like it, you can sell it.

So once ETH goes PoS, there is no reward for mining it?

Once ETH goes POS mining is OVER.
We can still mine ETC though.

Will ETC ever go PoS?

Not likely, as far as I know devs want to keep it PoW.

Thats probably the only way to keep it alive.
I have a hard time seeing it going anywhere with a hacker holding 3+ million stolen ETC on that chain.

because ETC hashrate is now 8x less then ETH and sometimes even more Whattomine website sometimes shows that ETC is more profitable. I tried couple of times to stwich to ETC but after  time it alwyas turned out I made less because of that. So what I suggest is to stick to ETH even if sometimes the miner calculators suggest opposite

I have the same experience. The ETC price is too volatile. So by the time you get the ETC and sell, you might make less profit.

I agree with you about the price volatility, but that can be both a good or a bad thing.
It depends on your trading skills/luck.

 

Not exactly, they both have the difficulty bomb that will END mining, make it impossible. Not until sometime in 2017, but ETH will fork to POS only, and then ETC will have to decide how immutable they really are.

Maybe ETH will fork another time, just to go on with mining  ;D ;D

Ethereum has forked once already, having another fork will send it to its grave... and I don't think ethereum lovers want that to happen ;D

That PoW to PoS fork was planned some time ago. It will be written in the code in later this year or early next year.

I think there will not be a hard fork like that happened a few weeks ago. There will be much better consensus.

ETC will pass test for immutability only if embedded suicide won't be removed? :)
 
Twisted logic... :D

Do you mean the time bomb for the difficulty? If it is to be removed, there will be another fork and argument on which one is the original chain.

ETC and ETH both - MUST somehow to remove a difficulty bomb (by PoS introduction or difficulty rule modification)
otherwise it means a quick death of ETC or ETH.


so it's funny to explain, that orginal chain would be there - where a dead coin is...

"Nevermind is dead, but most important it's original chain !" :)

The difficulty time bomb will explode in November this year. So the developers have to be very quick to solve that.

Several big organisations sponsored the Etheruem Devcon2 meeting in China. So I think they will support ETH instead of ETC.

That might be true. Some news:

Spanish banking giant Santander is making a bold move in the direction of Ethereum by creating a way to tie bank accounts and fiat currency to tokens on the Turing complete blockchain system.

Demonstrating this innovation was the bank's partner within the Ethereum community, EtherCamp, which has been building out the Ethereum Javascript environment for past couple of years, among other things.

The first use case of the Santander/EtherCamp CashEth project is micropayments, so leveraging the agility of the Ethereum blockchain to pay tiny amounts to read newspaper articles with zero fees, recorded on the blockchain.

Roman Mandeleil lead developer of EtherCamp told IBTimes UK: "It's a way of using a Santander bank account to convert fiat currency into tokens to be used on Ethereum."

Mandeleil showed how a Santander bank account will provide a button which creates an Ethereum account. "In this bank account you are going to have a parallel Ethereum account on Ethereum network. So Santander is going to know about this so it is going to be tied.

"It gives them a very nice way to do features. One of those is going to be to take dollars, put them in frozen account, and give you an amount of tokens that is backed by this reserve.

"So it's not a gold reserve but it's a dollar reserve. So you are going to upload these tokens into the blockchain and you are going to have the stability of real dollars or euros. And you are going to have the agility of Ethereum blockchain," he said.

Anything that comes close to connecting public blockchains with banks is going to face a ton of regulation. Mandeleil explained that Santander had been working with his team for nine months looking at things like regulation.

"Their legal staff was like – this is going to be difficult. But they got excited and actually start to work with the regulators. They are going to start in one country and you are going to see the system live. There are questions for regulators and we solved some of them, not all of them."

Mandeleil said Santander has been opening all the APIs in the bank for his team to ensure regulatory compliance. "It's not easy; it involves IT guys inside banks. They have given us these kind of bridges. We cannot say which country this will be rolled out in. Banco Santander started in Spain but it's much bigger. They have several options.

In terms of timing, Mandeleil said he wants to see it live next year, adding that he is flying to Madrid after DevCon to continue working with Santander. "We were talking about months but with banks it is difficult," he said.

The next step is to open an API for the system, for developers. "Because we don't want to develop all the features, we want them to develop whatever they want."

He added: "I'm a libertarian guy but I see that we really need this. The movement of blockchains is going one way and banks are also moving towards blockchain - these movements are going to meet somewhere. We are working on both because built Ethereum infrastructure and now we are working with banks."

Santander, which is sponsoring DevCon2, is establishing itself as one of the foremost innovators across all areas of blockchain. The bank has been a long time champion of Ripple and the ways it can connect interbank payments across borders.

The CashEth project is being overseen by Julio Faura, head of R&D at the bank and John Whelan director of Santander's Blockchain Lab, so something of a seasoned blockchain team.

More recently, Santander joined UBS as a backer of London-based Clearmatics (which creates a clearing system based on the Ethereum Virtual Machine) and the Utility Settlement Coin project, which is bringing central bank cash a step closer to blockchain.

Faura told IBTimes: "Of course there are regulatory issues, not linked to Ethereum per se, but linked to the idea of using a distributed ledger as a store of record for segregation of accounts, that is one topic. And also about privacy and so on. So these are things that we are working to solve with compliance people."

Faura clarified this has nothing to do with linking bank accounts to a cryptocurrency like Bitcoin. He said it was tokens backed by a Santender bank account. "This could be the bank or it could be some other kind of licence and the idea is this entity would back, would be guaranteeing if you want, those tokens by having a deposit at the bank level.

"There are other approaches. You know that we are present in the Settlement Coin project. It is similar but more serious; it's more up-scale in the sense it is intended to work as a pseudo-central bank. The deposits will be in central bank accounts.

"Here, we are just talking about regular bank account. We are talking about micropayments, small scale. Settlement coin is to settle trades between financial institutions and bigger amounts of money."

So Santander seems to be pivoting in the direction of Ethereum, one way or another. Faura, who holds a PhD in computer science and likes building smart contracts on Ethereum, said: "I think Ethereum is very interesting. It's a very well run project and the possibilities are bigger. Block times, for example, help in many of these projects we want to innovate on. It would be unfeasible if we did it on top of Bitcoin blockchain."