Bitcoin Forum
December 16, 2017, 09:30:51 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Ethereum converting to proof of stake will lead to it's inevitable destruction  (Read 1883 times)
r0ach
Legendary
*
Offline Offline

Activity: 1260


View Profile
May 29, 2017, 08:40:08 AM
 #1

I'm not really a huge fan of Ethereum so if the devs decide to bring it down like the Hindenburg it's not going to be a big deal to me, but I'm sure some people will mind.  In this post I explain in detail why proof of stake has no value, and of course neither does proof of work once ASIC are created:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

......ATLANT......
..Real Estate Blockchain Platform..
                    ▄▄▄▄▄▄▄▄▄
                    ████████████░
                  ▄██████████████░
                 ▒███████▄████████░
                ▒█████████░████████░
                ▀███████▀█████████
                  ██████████████
           ███████▐██▀████▐██▄████████░
          ▄████▄█████████▒████▌█████████░
         ███████▄█████████▀██████████████░
        █████████▌█████████▐█████▄████████░
        ▀█████████████████▐███████████████
          █████▀████████ ░███████████████
    ██████▐██████████▄████████████████████████░
  ▄████▄████████▐███████████████░▄▄▄▄░████████░
 ▄██████▄█████████▐█████▄█████████▀████▄█████████░
███████████████████▐█████▄█████████▐██████████████░
▀████████▀█████████▒██████████████▐█████▀█████████
  ████████████████ █████▀█████████████████████████
   ▀██▀██████████ ▐█████████████  ▀██▀██████████
    ▀▀█████████    ▀▀█████████    ▀▀██████████

..INVEST  ●  RENT  ●  TRADE..
 ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


███
███
███
███
███
███
███
███
███
███
███
███





███
███
███
███
███
███








Hero/Legendary members
1513459851
Hero Member
*
Offline Offline

Posts: 1513459851

View Profile Personal Message (Offline)

Ignore
1513459851
Reply with quote  #2

1513459851
Report to moderator
1513459851
Hero Member
*
Offline Offline

Posts: 1513459851

View Profile Personal Message (Offline)

Ignore
1513459851
Reply with quote  #2

1513459851
Report to moderator
1513459851
Hero Member
*
Offline Offline

Posts: 1513459851

View Profile Personal Message (Offline)

Ignore
1513459851
Reply with quote  #2

1513459851
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Ayers
Legendary
*
Offline Offline

Activity: 1218

★Bitvest.io★ Play Plinko or Invest!


View Profile
May 29, 2017, 10:15:09 AM
 #2

the activation is at 75% but they are not sure anymore if they go with full pos, i think they would make a wise decision if they stay as it is now, to avoid destroying the hashrate of other currency, because if ETH pow go down, all the hash will make everythign not profitable, and increase mining centralization, which is never good
o0‡0o
Full Member
***
Offline Offline

Activity: 192


Have faith.


View Profile
May 29, 2017, 10:53:54 AM
 #3

It was always planned to change to pos otherwise the have unlimited supply.

Infinite ice plan with thermal holes (Earth is one of them) and parallel firmament.   
Get used to it.
mining1
Hero Member
*****
Offline Offline

Activity: 532


View Profile
May 29, 2017, 12:41:43 PM
 #4

the activation is at 75% but they are not sure anymore if they go with full pos, i think they would make a wise decision if they stay as it is now, to avoid destroying the hashrate of other currency, because if ETH pow go down, all the hash will make everythign not profitable, and increase mining centralization, which is never good

You're not very clever, are you ? Why wouldn't they be sure, where did you pull that from ? And the activation at 75%, dude you're dumb. A simple version of casper is 75% ready, but this ain't like segwit activation.

And then you're saying eth shouldn't go to POS  because there are too many GPU's farming on it and they would destroy the profit of the other coins, when these gpu's will mine on them. Why would eth care ?
worldmain
Jr. Member
*
Offline Offline

Activity: 56


View Profile
May 29, 2017, 02:18:05 PM
 #5

It was always planned to change to pos otherwise the have unlimited supply.
Whats the limit after POS?
mining1
Hero Member
*****
Offline Offline

Activity: 532


View Profile
May 29, 2017, 11:32:29 PM
 #6

Won't be such thing as "limit". But there will be between 100-110mil tokens. POS will have most likely ~1% inflation, meaning 1mil tokens will be minted each year. That barely covers the lost and burned tokens over the year.
dennyd999
Full Member
***
Offline Offline

Activity: 224


View Profile
May 30, 2017, 01:00:10 AM
 #7

Won't be such thing as "limit". But there will be between 100-110mil tokens. POS will have most likely ~1% inflation, meaning 1mil tokens will be minted each year. That barely covers the lost and burned tokens over the year.



Am I understand you right? After Ethereum code will switch to Metropolis protocol:

Only 1% from all transactions in ETH network will be "recognized" by Casper as PoS.

All other 99% of transaction will remain as PoW?



It is planned to fully switch on PoS in Serenity protocol if nothing extraordinary will happens.. But Serenity protocol come much more latter and not this year for sure. Serenity upgrade and full switch to PoS is planned about year 2021 when mining difiiculty of ETH will be extremely high.


In Metropolis upgrade Ethereum will just test 1% of network for PoS. It is deffinetly too early to say that Ethereum goes to PoS this year.
jason943
Member
**
Offline Offline

Activity: 84


View Profile
May 30, 2017, 06:26:38 AM
 #8

I don't think so. PoS is much more economic and ecological, stop wasting power on meaningless PoW, PoS will be the future.

mining1
Hero Member
*****
Offline Offline

Activity: 532


View Profile
May 30, 2017, 07:53:32 AM
 #9

It's not just about being more "ecological", but more efficient of a system as a whole. @r0ach is just a troll.
benthach
Legendary
*
Offline Offline

Activity: 1176


--- I AM LEGEND --- i scam no one --- like ARK


View Profile WWW
May 30, 2017, 08:49:07 AM
 #10

I'm not really a huge fan of Ethereum so if the devs decide to bring it down like the Hindenburg it's not going to be a big deal to me, but I'm sure some people will mind.  In this post I explain in detail why proof of stake has no value, and of course neither does proof of work once ASIC are created:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

my concern this pyramid scam will never go pos

dennyd999
Full Member
***
Offline Offline

Activity: 224


View Profile
May 30, 2017, 12:25:21 PM
 #11

I'm not really a huge fan of Ethereum so if the devs decide to bring it down like the Hindenburg it's not going to be a big deal to me, but I'm sure some people will mind.  In this post I explain in detail why proof of stake has no value, and of course neither does proof of work once ASIC are created:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

my concern this pyramid scam will never go pos

PoW is centralised by China miners.It is extremely uneffective and with growth of difficulty will be simply impossible to exist.

Right now Bitcoin miners are using energy as a whole Denmark. Its useless waste..

PoS is based on code...it is like human nervous system will be autonomous and independent in future.
And it is not wasting electricity.
mining1
Hero Member
*****
Offline Offline

Activity: 532


View Profile
May 30, 2017, 12:49:46 PM
 #12

Won't be such thing as "limit". But there will be between 100-110mil tokens. POS will have most likely ~1% inflation, meaning 1mil tokens will be minted each year. That barely covers the lost and burned tokens over the year.

Am I understand you right? After Ethereum code will switch to Metropolis protocol:

Only 1% from all transactions in ETH network will be "recognized" by Casper as PoS.

All other 99% of transaction will remain as PoW?


I wasn't talking about metropolis, i was talking about POS. In approximately 1 year time, eth will switch to POS, with ~1% inflation. Meaning, only 1% tokens out of the total supply will be created each year.

About metropolis and after, nothing is certain yet, details are still being discussed.
ðºÞæ
Sr. Member
****
Offline Offline

Activity: 266



View Profile
May 30, 2017, 02:23:12 PM
 #13

Quote
eth will switch to POS
No
The number of coins released per year will stay constant at 15.6 million Ether Units forever.

mining1
Hero Member
*****
Offline Offline

Activity: 532


View Profile
May 30, 2017, 02:55:17 PM
 #14

That is just low quality FUD. I would only attempt to troll only if i knew i wouldn't embarass myself, just like you do.
ðºÞæ
Sr. Member
****
Offline Offline

Activity: 266



View Profile
May 30, 2017, 07:00:17 PM
 #15

That is just low quality FUD. I would only attempt to troll only if i knew i wouldn't embarass myself, just like you do.

Would you care to provide rock solid evidence before spreading fud.
Not some guy somewhere sometime said something that probably something will happen.
On what day pow stops and pos starts. What will be the total number, currently its ~ 92mil


Quote
Ether (ETH), the cryptofuel that powers distributed applications on the Ethereum platform, will be issued at a constant annual linear rate via the block mining process. This rate is 0.3 times the total amount of ETH

The Original Fud Story
60 million + 12 million + 18million = ~90million
60 million - is the Pre-sale.
12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.
~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS.

douglock
Sr. Member
****
Offline Offline

Activity: 262



View Profile
May 30, 2017, 09:46:23 PM
 #16

It was always planned to change to pos otherwise the have unlimited supply.
I agree. It will cause the inflation in the price of ethreum and it will no longer be a top coin anymore

██████████████████████████████████████████████████████████████████▄   ▄
███████████████████████████████████████████████████████████████████▀▄▀
██████████████████████████████████████████████████████████████████▄▀ ▀▄

  ▄▄▄▄▄▄▄▄      ▄▄▄        ▄▄▄  ▄▄▄           ▄▄▄  ▄▄▄▄▄▄▄▄▄       ▄▄▄
  ██████████▄   ███        ███  ████▄         ███  ███████████▄    ███
  ███     ▀███  ███        ███  ██████▄       ███  ███      ▀███   ███
  ███      ███  ███        ███  ███ ▀███▄     ███  ███        ███  ███
  ███     ▄███  ███        ███  ███   ▀███▄   ███  ███        ███  ███
  ██████████▀   ███▄      ▄███  ███     ▀███▄ ███  ███       ▄███  ███
  ███▀▀▀▀▀       ███▄▄▄▄▄▄███   ███       ▀██████  ███▄▄▄▄▄▄███▀   ███
  ███             ▀████████▀    ███         ▀████  █████████▀▀     ███
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
.
Whitepaper   Twitter   Facebook
Telegram     Medium    Youtube
benthach
Legendary
*
Offline Offline

Activity: 1176


--- I AM LEGEND --- i scam no one --- like ARK


View Profile WWW
June 01, 2017, 07:40:33 AM
 #17

I'm not really a huge fan of Ethereum so if the devs decide to bring it down like the Hindenburg it's not going to be a big deal to me, but I'm sure some people will mind.  In this post I explain in detail why proof of stake has no value, and of course neither does proof of work once ASIC are created:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

my concern this pyramid scam will never go pos

PoW is centralised by China miners.It is extremely uneffective and with growth of difficulty will be simply impossible to exist.

Right now Bitcoin miners are using energy as a whole Denmark. Its useless waste..

PoS is based on code...it is like human nervous system will be autonomous and independent in future.
And it is not wasting electricity.


what the f this have to do with my replied and relevant to it?
like i always said seen the beginning, this pyramid scam will never or will drag on forever from moving to POS.
this pyramid scam eth will die out when we could removing one of the two options below;
1.polioniex - this exchange is survive and thrive today because of eth, it will always protecting and advertising this pyramid scam eth at all cost.
2. eth moving from pow to pos - this will take sometime

while we waiting for one of this option to happen i encourage everyone to test out waves platform wallet or read ark whitepaper.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!