[ANN] Ethereum: Welcome to the Beginning

[theskillzdatklls]

https://decrypt.co/108791/ethereum-merge-almost-here-what-could-go-wrong
The Ethereum Merge Is Almost Here. What Could Go Wrong?

https://twitter.com/DU09BTC/status/1559962260340195330?
"#Ethereum is officially transitioning to a centralized blockchain on 15 September (the merge). 👇

I got proof. Four entities hold 60% of the network:

🔹 Lido - 31%
🔹 Coinbase - 14.7%
🔹 Kraken - 8.4%
🔹 Binance - 6.7%

✅ TOTAL: 60.8%

Does anyone think this is NOT an issue?"



https://decrypt.co/108787/ens-touts-third-highest-month-of-revenue-as-ethereum-merge-approaches
Ethereum Name Service Touts Third-Highest Monthly Revenue as Merge Approaches
Crypto domains are seeing a continued lift as the ETH universe prepares for its next major milestone.

I'm not sure if it is technically feasible or not but it would be interesting if there was a protocol level feature where any major staking pool was given less rewards and smaller staking pools / individuals were given artificially more rewards to incentivize distributed behavior.

That said, I'm guessing the major problem is that this is simply too easy to fake and therefore perhaps technically infeasible.

MintDice.com for instance has been doing it's part to help service the network in a distributed fashion but it's nothing compared to Binance or LIDO. And yet smaller stakers like this are critical to the network. So it would be cool if there were a mechanism to help force market forces in that direction.

[theskillzdatklls]

Looks like Bellatrix went off without a hitch. If anything, a lot of ETH buying pre-fork trading at around 0.084 per BTC which is extremely high.

So the merge is ~100% to happen next week now. And I guess the crypto world will just have to wait and see how that experiment works in the medium term.

[FP91G]

How the Merge will Change Ether’s Supply-Demand Dynamics as Miners Get Phased Out
The cryptocurrency community has continued to root for a successful Merge, with exchanges already opting for the PoS network post-merge. OpenSea, Coinbase, Binance, Circle, and Tether have all announced they plan to support ETH 2.0. Consequently, the support for the PoS ETH has raised concerns that the ETH PoW may not be successful in the long run.
https://tokenist.com/how-the-merge-will-change-ethers-supply-demand-dynamics-as-miners-get-phased-out/

[percy_tc]

I'm a miner since 2016, but it's time to let POW go away. It was golden times, but POS is better in any way.

[zasad@]

https://twitter.com/abcoathup/status/1565205804487102464
"mainnet-shadow-fork-12 merged successfully using Merge ready client releases 🐼
Second last shadow fork before Mainnet merge!"

https://twitter.com/abcoathup/status/1565663270173696000

"mainnet-shadow-fork-13 config:https://github.com/eth-clients/merge-testnets/tree/main/mainnet-shadow-fork-13

TTD expected Friday September 9
The last shadow fork before the Merge 🐼"

https://blog.ethereum.org/2022/09/07/esp-q1-q2-allocation-update
Allocation Update: Q1 and Q2 2022

Ethereum The Merge Countdown
https://explorer.btc.com/activity/eth/merge

[bitcampaign]

I'm a miner since 2016, but it's time to let POW go away. It was golden times, but POS is better in any way.

at least lowering the cost of gas which is much better when people can make transactions on the Ethereum network, usually anything that smells of POW there is always a game of naughty miners playing the network as if making gas costs high so that it can make additional profits for miners besides get a block reward they also get a reward fee, that sucks in my opinion

[zasad@]

https://blog.chainalysis.com/reports/ethereum-merge/
How The Ethereum Merge May Impact the Crypto Ecosystem: On-chain Indicators to Watch
"We’ve written before about how the prices of cryptoassets like Bitcoin have become more correlated with those of tech stocks and other high-risk, high-upside assets. However, Ether’s price could decouple from other cryptocurrencies following The Merge, as its staking rewards will make it similar to an instrument like a bond or commodity with a carry premium.."

[Riyabd78]

The blockchain of Ethereum coins is preparing for an upgrade. Since the beginning of the year, "Saturn Dasha" has been going on in the crypto currency sector. Bitcoin and Ether, the two biggest currencies in the crypto market, found the bottom of the decline going into mid-June. The price of Bitcoin, which touched the market value of 60 thousand dollars last year, fell to 17 thousand 601 dollars in the middle of June; And the price of Ether came down to 880 dollars.

But within this 'hard day', the creators and regulators of the Ethereum blockchain announced a major change in the data storage process, known in the market as a 'merge'. A month after hitting the bottom of the decline, the price of Ether has increased by 100%. The Bitcoin market is volatile again in the third week of August, despite a 31 percent increase in the price of Bitcoin during the same period.

The much awaited 'merge' is playing the biggest role behind the increase in the price of Ether in the crypto market. This is considered to be the biggest change to date for the Ethereum blockchain. In a 'merge', the entire blockchain will move from a so-called 'proof-of-work' system to a 'proof-of-stake' system. The alleged 'merger' is scheduled to take effect on September 15. Those concerned say that this will not only reduce the electricity consumption of the Ethereum network, but also increase the speed of the network.

Source: https://blog.ethereum.org/2022/08/24/mainnet-merge-announcement

[PoolMinor]

Don't forget to sell the news!

[Baldezh2016]

I'm a miner since 2016, but it's time to let POW go away. It was golden times, but POS is better in any way.

The POW network’s annual energy demand is 80.95 TWh. This corresponds to the electricity needed by a US household in 7.03 days.

Ethereum mining going away. But ETH 2.0 is good for the future.

[MegaAkker]

Hello people,

I have some ETH on Ledger Nano and some ETH on Kraken, and now I wonder what is the best place to park them before the merge. As I understand, there is a chance that there will be a new coin after the merge and all ETH holders (apart from exchanges who do not support it) will get this new coin also at the 1:1 ratio compared to how many ETH they hold.
But will I get this on Ledger automatically? Or what do I need to do for this?

What is the best place to park my ETH ahead of the merge?

And.....how big is the chance in % that there really will be formed a new coin after the merge?

[theskillzdatklls]

Hello people,

I have some ETH on Ledger Nano and some ETH on Kraken, and now I wonder what is the best place to park them before the merge. As I understand, there is a chance that there will be a new coin after the merge and all ETH holders (apart from exchanges who do not support it) will get this new coin also at the 1:1 ratio compared to how many ETH they hold.
But will I get this on Ledger automatically? Or what do I need to do for this?

What is the best place to park my ETH ahead of the merge?

And.....how big is the chance in % that there really will be formed a new coin after the merge?

The easiest thing is going to be have it on an exchange that indicated earlier on that they will support the forked ETHW coin for you to dump.

The more advanced thing to do would be to keep it on a ledger and maintain control during the merge and manage everything from there.

I guess it just depends on how comfortable you are technologically speaking, how much you think the forked shitcoin will be worth or even happen etc. There is no definite answer to your question. It doesn't have to be an all or nothing answer either. You could do a partial amount weighted in the direction you like, kind of like you are already doing.

[zasad@]

About 1 hour left until the ethereum merge
https://watcher.guru/ethmerge

official
https://www.youtube.com/watch?v=Nx-jYgI0QVI
Ethereum Mainnet Merge Viewing Party

Nethermind 24h Merge Watch
https://www.youtube.com/watch?v=_87HylU9r_Y

The Eve of the Merge with Special Guests!!
https://www.youtube.com/watch?v=jJK2fsw4dxk

Many projects and exchanges will not accept transactions in the Ethereum ecosystem, if you plan to make a transfer, then check the news.

[montaga]

I'm a miner since 2016, but it's time to let POW go away. It was golden times, but POS is better in any way.

The POW network’s annual energy demand is 80.95 TWh. This corresponds to the electricity needed by a US household in 7.03 days.

Ethereum mining going away. But ETH 2.0 is good for the future.

Back in 2014 hundreds of coins changed from POW to POS it was not good for a single one of them.
Peercoin is staking for almost 10 years now, a lot of people still waiting for the good part of it because the 1% reward is catastrophic.

[zasad@]

I'm a miner since 2016, but it's time to let POW go away. It was golden times, but POS is better in any way.

The POW network’s annual energy demand is 80.95 TWh. This corresponds to the electricity needed by a US household in 7.03 days.

Ethereum mining going away. But ETH 2.0 is good for the future.

Back in 2014 hundreds of coins changed from POW to POS it was not good for a single one of them.
Peercoin is staking for almost 10 years now, a lot of people still waiting for the good part of it because the 1% reward is catastrophic.

I agree that the POS algorithm is more reliable, but modern requirements for energy efficiency require the blockchain to consume less electricity. In the future, POS blockchains will have problems due to expensive electricity, so the POS algorithm for Ethereum will be a good solution.

Congratulations

https://www.youtube.com/watch?v=Nx-jYgI0QVI

[ivomm]

I never trust anyone with my finances. No matter how trustworthy Vitalik may look for some. That's why I won't have any more involvement in eth, especially when I know that it has become 100% centralized project. Having said that, I salute the POW which ALWAYS be with the only true decentralized finance - Bitcoin. From that perspective eth POW gave me a chance to start with 1 gaming card in 2016, which make profit and I bought 4 more, then more. And that's how I got into Bitcoin and I am glad I found the financial safe haven. Now etc mining is not profitable anymore, but at least I can use it for heating purposes and hopefully one day the return will be at least 10x.

[zasad@]

https://decrypt.co/109724/what-ethereum-merge-means-and-doesnt-users
What the Ethereum Merge Means for Ordinary Users—And What It Doesn’t

[passwordnow]

An era has ended but has opened a new era. From PoW to PoS and sure a lot of moments, experiences and memories will be remembered with the end of PoW.

Hello people,

I have some ETH on Ledger Nano and some ETH on Kraken, and now I wonder what is the best place to park them before the merge. As I understand, there is a chance that there will be a new coin after the merge and all ETH holders (apart from exchanges who do not support it) will get this new coin also at the 1:1 ratio compared to how many ETH they hold.
But will I get this on Ledger automatically? Or what do I need to do for this?

What is the best place to park my ETH ahead of the merge?

And.....how big is the chance in % that there really will be formed a new coin after the merge?

I have kept my ETH on Ledger Live and just waiting for their announcement if there really is a new coin. But for now, there's no need to worry as the merge is successful and ETH is now a Proof-of-stake.

[theskillzdatklls]

Peak ETH supply may have already come and gone. 200 ETH down from the top.

[bitcampaign]

maybe many people think that this ETH merger will make the gwei gas on transactions much lower as is the case with BNB which always stays at 5 gwei for transactions, this is what I expected and it didn't happen until the merger was successful a few hours ago, I was wrong the only one who believes that by merging transactions is much cheaper even though the gwei gas is not really lower than expected after the merger, but I congratulate ETH for successfully moving to the POS network, hope it can be cheaper in the future https://etherscan.io/gastracker