ETH will have forking soon, PoS and you know where the price shall go :)

[Gnosis7777]

Proof of State means that Ethereum Foundation and their 72,000,000 Premined coins are now officially running the network. Game over.


It's just like the DAO hack when they supposedly had 'community consensus' to fork, and 95% of the votes came from a few whale addresses, now since their blockchain is even bigger than bitcoins they don't have any choice but to make it even more obvious, since mining is impossible.

Decentralized...yea.

In the eyes of the Law proof of stake means there will now be even more centralized ownership of Ethereum, aka preferred stock holders running a company to target.

[khufuking]

I have a couple of points .

- How come give few  people the control over ETH is any better than mining ? ETH mining is different than BTC anyone can mine ETH in fact anyone can invest in mining ETH with small budget .

- ETH switching to POS will drive price down that is how I see it .For simple reason there is money spent to great ETH (mining equipment) so when the cost of creating something removed isn't it logic that the price of this thing decrease by default !! ? I might be wrong but logically the price should go down . But there is no logic in crypto world so ya anything can happen .

[zokora]

ı agree indeed. If Proof of Stake transformation of Ethereum finishes succesfully it will be rocketed. People will buy and hold ethereum for long time. I am sure Vitalik is thinking a solution for the Ethereum miners as well. And I am sure that Ethereum will make an innovative and superior PoS example than other PoS coins.

[cryptohorsee]

Well the price of eth should skyrocet before the fork like the last time. Also don't forget about all the icos that are coming, ppl need eth. I think Eth is in a good place.

[jzone23]

Im still a newbie to altcoins and I dont understand well this forking thingy going to happen with etherium. Would it be good or bad? But as I am thinking about eth future, im hang with a question isn't eth could survive in a long run because of all the tokens using their platform plus the upcoming ICOs which also using it and since to transact erc20 tokens user need eth as fuel so demand would be endless unless this tokens also die?

[bitcoinvestor]

will be ethereum cash ?    , will see how it fork goes

LOL not etherium cash but etherium2x. Just wait and see fork for what. everything will be fine with eth if that happen again there will be new etc.

[European Central Bank]

ethereum classic will be the beneficiary. there's a whole load of mining looking for a new job. i expect it'll attract alot more action after this. it's easy to underestimate the effects mining has on market action.

[QueenOfCrypto]

Switching to PoS sounds like a very cool idea until you realise that the tens of millions of Eths held by the Foundation will make it more centralised instead of less.

[illinest]

Switching to PoS sounds like a very cool idea until you realise that the tens of millions of Eths held by the Foundation will make it more centralised instead of less.

Interesting point. It's true that in most cryptocurrencies -- ETH as well as BTC and others -- this would be the case. With PoS, distribution becomes extremely important. With PoS, ETH should indeed become more centralized, as it is already highly controlled by Vitalik and the Ethereum Foundation. The user base already follows them unconditionally, for the most part. This will solidify their control.

[ranreichman]

I still think Proof of Stake is pretty far in the future. No one really knows how to do it safely yet.

[anylic]

The price of ETH will fly up to Mars, everyone will want to hold it and with the current situation the price of ETH has grown a little, which shows the sign of the portfolio conversion

[hiramofTyre]

The POS integration of ETH will be gradual.  People will still be able to mine bit through POW but difficulty will start to really kick in.  Of course its price will climb up because of this.  There will probably be fud and dumping of the coin, consider it as an opportunity to buy cheaper before it goes up.

[marky89]

The POS integration of ETH will be gradual.  People will still be able to mine bit through POW but difficulty will start to really kick in.  Of course its price will climb up because of this.  

Pardon my ignorance, but why should this force the price upwards? It becomes increasingly less profitable to mine as mined block generation gets slower. I guess I need to look closer at the details. I assumed "gradual" meant blocks would also be generated through staking. So people are incentivized to stake, but since the system is generally untested and unproven, it seems like there is a lot of room for FUD. Not only that, but there is room for real things to go wrong. With PoS, the potential cost of a 51% attack is zero (a majority just needs to agree). I like the idea, but I've never seen it work on paper, let alone in practice.

[Gnosis7777]

The POS integration of ETH will be gradual.  People will still be able to mine bit through POW but difficulty will start to really kick in.  Of course its price will climb up because of this.  

Pardon my ignorance, but why should this force the price upwards? It becomes increasingly less profitable to mine as mined block generation gets slower. I guess I need to look closer at the details. I assumed "gradual" meant blocks would also be generated through staking. So people are incentivized to stake, but since the system is generally untested and unproven, it seems like there is a lot of room for FUD. Not only that, but there is room for real things to go wrong. With PoS, the potential cost of a 51% attack is zero (a majority just needs to agree). I like the idea, but I've never seen it work on paper, let alone in practice.

Because everything Lord Vitalik and the ETHtards do is based on hype alone, they never have a working product. ZERO, zilch, nil, nugatory.
 
Can someone name me that fabulous dapp yet? Have smart contracts saved the world from cancer yet? Or have they just allowed a bunch of scammers to launch ICO shitcoins every few hours?

Ethereum is a ponzi-scheme dog-turd wrapped up in glitter and sold to morons. It does absolutely nothing it promises (because it can't), but don't worry even with the millions of dollars poured into it it still crashes and forks all of the time; Vitalik will promise you mETHheads the world super-computer is just biding it's time before that killer dapp comes out so he can scam more money lol (still have to dump those premined coins on someone, could it be u )

Still waiting.

[hiramofTyre]

The POS integration of ETH will be gradual.  People will still be able to mine bit through POW but difficulty will start to really kick in.  Of course its price will climb up because of this.  

Pardon my ignorance, but why should this force the price upwards? It becomes increasingly less profitable to mine as mined block generation gets slower. I guess I need to look closer at the details. I assumed "gradual" meant blocks would also be generated through staking. So people are incentivized to stake, but since the system is generally untested and unproven, it seems like there is a lot of room for FUD. Not only that, but there is room for real things to go wrong. With PoS, the potential cost of a 51% attack is zero (a majority just needs to agree). I like the idea, but I've never seen it work on paper, let alone in practice.

We're talking about the price here and not our objective point of view towards the system of eth.  As you said it, it will become less profitable to mine, then the effect will be an increase of buyers thereby increasing its value.
Yep, gradual since the integration of POS is not abrupt, majority of eth will still be mined through POW until upto maybe 2 years from now.

[marky89]

The POS integration of ETH will be gradual.  People will still be able to mine bit through POW but difficulty will start to really kick in.  Of course its price will climb up because of this.  

Pardon my ignorance, but why should this force the price upwards? It becomes increasingly less profitable to mine as mined block generation gets slower. I guess I need to look closer at the details. I assumed "gradual" meant blocks would also be generated through staking. So people are incentivized to stake, but since the system is generally untested and unproven, it seems like there is a lot of room for FUD. Not only that, but there is room for real things to go wrong. With PoS, the potential cost of a 51% attack is zero (a majority just needs to agree). I like the idea, but I've never seen it work on paper, let alone in practice.

Because everything Lord Vitalik and the ETHtards do is based on hype alone, they never have a working product. ZERO, zilch, nil, nugatory.

Definitely, I agree with that. Assuming the fork itself goes smoothly and the vast majority of economic activity remains with Vitalik and company, the price should rally based on alleviation of market uncertainty and hype around the [untested] premises of the new system. It is truly amazing to see for the past year how far people are willing to run with their expectations about ETH.
 

Can someone name me that fabulous dapp yet? Have smart contracts saved the world from cancer yet? Or have they just allowed a bunch of scammers to launch ICO shitcoins every few hours?

It'll be a while. First, they need to figure out basic scalability considerations to even keep their system running as an ICO platform. It breaks every time there is a major ICO.

[Lauren Smith]

Does this mean the people who have been buying up all the eth or mining it will have a monopoly over the rest of us since the staking massive amount of coins with huge weight behind it.

Someone said it will be less profitable to mine. But why ? I don't think so. You can stake what you mining while you mine more. Wouldn't that just even it out ?

[Skol600ml]

There is one coin that went POW to POS and didn't die? There is a valuable POS coin in the world?

[Filmmmakerr]

Ethereum won't die guys, it will never die. It will continue to grow stronger until something better takes its place, but will always remain a top 5 coin.

[RedNovember]

More information about the fork in September:
https://futurism.com/the-ethereum-platform-will-undergo-a-major-upgrade-in-september/

This is what got me interested and excited about ethereum back in March this Shit is freaking awesome the technology blows everything away from bitcoin! How can bitcoin compete it's like a big slow lumbering dinosaur

And we all know what happened to dinosaurs