ETH going PoS is a huge mistake

[MidNite36]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

[Asiska02]

Cryptocurrency is a decentralized means of saving money. With bitcoin been decentralized as a cryptocurrency. However, other coins introduced into the market tend to be centralized as they are been controlled by agencies, the main aim of the cryptocurrency is been altered by innovation of new coins(mostly known to be shit coins). Ethereum going to PoS cannot be guaranteed not centralized in the long run.

[zasad@]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

Better read the interesting opinion of expert Anthony Sassano
https://thedailygwei.substack.com/p/evenly-distributed-the-daily-gwei?
I also agree with him that 7 years of mining allowed the coins to spread among the majority of crypto users.

[lobo13hf]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization

Ethereum developers have not yet decided whether they will be fully moving to the POS or not. Chill mate. The beacon chain is active but this doesn't mean if ethereum will be fully moving to the POS. In here i do believe ethereum will be running on the hybrid consensus rather than try to go to the full POS. This is also a risky decision as well.

and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

There are some of keypoints in this case.

1. You defend the decentralization but you will be against regulators who are thinking conservatively about energy consumption. How will you face this?
2. The concern of decentralization.

[tsaroz]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

ETH is already in large supply and POW is hardly decentralized anymore as most of the mining occurs in industry level mining farms. POS on the other hand could have more decentralization considering how the micro pools for staking are offered by various platforms. Another good thing about moving into POS is decreasing the dependency on GPUs and electricity consumption which both has been the most critical accusation against the Ethereum as whole.

[BitKongy]

Be calm, ETH going proof of stake isn't finalised yet I'm expecting some kind of hybrid functionality where by PoW algorithm and PoS works in one box, we've seen few projects utilising such use cases before so lets wait till the time gets here and see what the final decision will be.

[avikz]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

How come POS will centralize ETH? I don't get your point. Rather I feel POS will actually make ETH more accessible to the common mass. You won't need expensive graphics card to mine it. Rather you can just buy some ETH from the market and pool stake with others. POS is effectively removing the barriers that bars the common mass to enter into mining of crypto due to high entry price. Also it will address the high gas fees which ETH users are facing since a long time now. The current gas fee is not sustainable and POW is unable to solve the issue so far. POS will help to distribute the gas fees across network through their algorithm which will reduce it to a great level.

Overall, I have seen positivity around this movement. Not sure what made you think it will end decentralization in ETH.

[Xal0lex]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

PoS is centralization? I think that in terms of centralization and decentralization, nothing much will change. In both cases, those who have more power win. If in PoW the winner is the one who has more processing power, in PoS the winner is the one who has more coins for stacking. But in the case of PoS, mining will be a bit more accessible than before, because it is cheaper in terms of the cost of organizing mining.

[Lizzylove1]

The demand for ethereum smartcontract platform is huge, and ethereum can only perform 15/TPS, this has led to the congestion of the network jerking up fees and people abandoning the network to start building with other platforms, to address this issue, they are building ETH2.0 a migration to POS, and sadly POS rewards whale more, I have been following the drama of $JUNO whale gamer.

[cryptoperkele]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

How? How would it lead to centralization more then current system? If you are saying that only rich people will be able to stake, that's not true. There will be pools like in POW mining. And currently pow rigs cost a ton of money. Imho POW leads to centralization.

[mildmanneredsuffering]

I think hardware tech geeks will lose interest of course, theres no advantage to being a hardware nerd in pos.  Out of all the models I think the 50% 50% pow pos is good, dash kida fucked it cause they keep changing things but theres a new coin pulsar that has a good 50 50- model that may not be total shit.

ETH should stay pow and just let the pos 2.0 eth be a different coin like etc, leave eth as eth

[CaVO32]

I think hardware tech geeks will lose interest of course, theres no advantage to being a hardware nerd in pos.  Out of all the models I think the 50% 50% pow pos is good, dash kida fucked it cause they keep changing things but theres a new coin pulsar that has a good 50 50- model that may not be total shit.

ETH should stay pow and just let the pos 2.0 eth be a different coin like etc, leave eth as eth

ETH dev team probably have done their risk assessment in gearing towards ETH 2.0. We may not be seeing the whole picture here but I believe, they know what they are doing. If in case they will fail, then, it is on them. Anyway, we have other networks now that we can choose from. We can't say this early that they are about to commit a huge mistake as we don't know what their future will be. We need to stay tune to follow their journey.

[bitkanu]

I don't know if I'm the only person feeling this way right now, Ethereum going PoS is a high mistake, its no deny that PoS always leads to centralization and the whole idea and points of crypto is decentralization, or am I wrong? What do you crypto guru think?

Sometime you must also think from the different perspective about the movement of ethereum from POW to the POS. WHy? it caused by there will always be advantage and disadvantage.I think that  in this case you must also aware about the energy consumption that used by the POW blockchain. This can be said that when you are facing this and then you must also think about the earth.
Even when crypto like ethereum didn't give a lot of pollution to the earth but moving to the more conservative energy was so good.

[cabron]

It's been planned for a long time, I remember if anyone wants to stake, they need 32 ETH to participate. 
I'm not very aware of how the ETH team will be doing it but I have heard that ETH will become Deflationary as well apart from being POS because they have the burning system. It may not be such a big mistake actually if this is the case although the miners may have to find some other tokens to mine which I guess is the reason for ETC's rise.

[DapanasFruit]

I think that you are not alone with this fear and doubt with the possible move of the whole Ethereum network to the PoS side and the main concern is that this can lead for the said platform to be moving away from being a decentralized one to the other side of the fence. Now, rightly so, there can be some good benefits for Ethereum if it will one day be under the PoS category and on top of that is that transaction gas can return to normal and stop the ongoing hemorrhage we are suffering while being users of Ethereum. Now, the question is: Will possible risks be minimized by possible advantages? Well, that remains to be seen.

[StormHawk]

The number one problem affecting ETH right now is a high gas fee and if going PoS algorithm will fix this issue then it's not a huge mistake, it will never be a huge mistake, ETH needs to get better.

[kojektea]

My bad thought why ethereum would want to change POS is for the project to be licensed or not open source open source anymore because that would be a big competition.
But I don't know, this is just my guess, apart from that the impact is that ethereum is becoming easier to mine than the previous mining system, will this have an impact like the price will go down because its rarity will decrease.

[Captain Corporate]

 The moment you say "there is no deny" about something that can be denied, you are wrong, and its not even just about this topic, its about any topic in the entire history of the world. There IS  a deny that PoS leads to centralization, which means that you are not looking at it the right way. This isn't some validator that BNB has type of situation, thisi s proof of stake which means that any person in the entire world that can buy 32 ETH could end up doing this. So it doesn't eliminate anyone for any reason at all and if you want to keep "mining" just sell the GPU and buy ETH with it and you will still earn.

[TreyARC]

I'm not ready for the Centralization and decentralisation war right now because very few projects are practising Decentralisation these days, the only project that has truly decentralised is BTC, with Ethereum I can't even tell, its like half baked cex and dex in one project.

[BioFrog]

Eth is and will remain decentralized the pos change will benefit all those who do not have expensive gpu to be able to mine it people will be able to join pools to reach the 32 eth necessary for a node and start earning interest