Ethereum Casper - End of Ethereum era?

[Zeehaxan]

What will happen after the transition of eth from Pow to Pos? According to my scenario this would mean the demise of ethereum. Because? well, let's start with the fact that pow is based on millions of mining rigs around the world validating blocks. These resell the earned and when they have paid off the machines and the electricity, they set aside a little ethereum to buy more performing machines or optimize consumption. With the pos these will become useless with the consequence that ethereum will also become useless for them. It will be a much more centralized cryptocurrency for the rich few. Just my opinion.
Edit1 The effect of the miners (and therefore of the economic empires of Nvidia and Amd which have an interest in increasing the values ​​of some crypto to sell more cards) will be felt just as it was felt on the various litecoin then dash etc?

It is not a good argument just read about the disadvantages of pow as well which consumes a lot of electricity and carbon output is huge alongwith expensive equipment the model is something that was not sustainable for long so it was the right option selected by the largest altcoin to move to a sustainable model.

[articlecity]

Eth 2.0 is infact the real start of the eth era because of the solutions of the long standing scalability issues eth was struggling but with the launch of eth 2.0 we can finally see adoption and increase in real world usage of ethereum in coming months and years.

[wxa7115]

I don't think that the transition to POS means the end of ethereum. Ethereum already has a very strong infrastructure and many projects are running on the etereum blockchain, it is clear that alternatives already exist today, but etherium still has the highest priority

I do not think so either but they are taking a major risk, there has always been discussions about which protocol is safer but now ethereum is taking the major decision of changing from PoW to PoS if everything goes right then we will see miners leaving for other coins which is not bad, however if there is a single mistake in the process the price of the coin could crash in a matter of hours and that is never a good thing since it could really kill the coin.

The other problem is that after they make this transition then it will be impossible for them to go back to PoW, even if it s possible what will they tell to the long term holders of ethereum, that they made a mistake? That will not fly with them, so while I do not think this will kill ethereum it is really a very important moment in its history that will define how it is seen for the next few years.

[Inkdatar]

Eth 2.0 is infact the real start of the eth era because of the solutions of the long standing scalability issues eth was struggling but with the launch of eth 2.0 we can finally see adoption and increase in real world usage of ethereum in coming months and years.

A lot of hopes actually with this coming eth upgrade. With this scalability issues, there's a hope that it could resolve in the future. In my opinion, Eth will still be useful by many it will not end rather there will be an improvement for sure.  

[jqprez]

I don't think that the transition to POS means the end of ethereum. Ethereum already has a very strong infrastructure and many projects are running on the etereum blockchain, it is clear that alternatives already exist today, but etherium still has the highest priority

I do not think so either but they are taking a major risk, there has always been discussions about which protocol is safer but now ethereum is taking the major decision of changing from PoW to PoS if everything goes right then we will see miners leaving for other coins which is not bad, however if there is a single mistake in the process the price of the coin could crash in a matter of hours and that is never a good thing since it could really kill the coin.

The other problem is that after they make this transition then it will be impossible for them to go back to PoW, even if it s possible what will they tell to the long term holders of ethereum, that they made a mistake? That will not fly with them, so while I do not think this will kill ethereum it is really a very important moment in its history that will define how it is seen for the next few years.

But when they fork you can usually choose which blockchain to stay on. Or not?

[jqprez]

Eth 2.0 is infact the real start of the eth era because of the solutions of the long standing scalability issues eth was struggling but with the launch of eth 2.0 we can finally see adoption and increase in real world usage of ethereum in coming months and years.

A lot of hopes actually with this coming eth upgrade. With this scalability issues, there's a hope that it could resolve in the future. In my opinion, Eth will still be useful by many it will not end rather there will be an improvement for sure.  

In the end there are many Coins that use the pos. Why choose ethereum and not ripple or anything else?

[kerjakuat]

What will happen after the transition of eth from Pow to Pos? According to my scenario this would mean the demise of ethereum. Because? well, let's start with the fact that pow is based on millions of mining rigs around the world validating blocks. These resell the earned and when they have paid off the machines and the electricity, they set aside a little ethereum to buy more performing machines or optimize consumption. With the pos these will become useless with the consequence that ethereum will also become useless for them. It will be a much more centralized cryptocurrency for the rich few. Just my opinion.
Edit1 The effect of the miners (and therefore of the economic empires of Nvidia and Amd which have an interest in increasing the values ​​of some crypto to sell more cards) will be felt just as it was felt on the various litecoin then dash etc?

It will be a great thing for hodlers but will be a bad thing for miners as they cannot mine anymore.. Its has bad and good thing too as like me not a miner i would love to stake this coin as it was a definitely a good coin to stake for a long term. Even without a miner i did not scared at all for the price to be drop as ethereum was a well known coin out there. Still got a world wide supporter that will back ethereum.

[Jackl87]

I also think that the switch from POW to POS has a huge impact not only on Ethereum itself but on other coins as well.
I don't know exactly how much computing power is currently directed at mining ETH but once the switch to proof of stake happens, i think more miners will switch to another coin than stop mining completely
This could increase the price of the other mineable coins because you need to be way more hashpower to generate the same amount of coins.