So much for PoS from PoW for ETH

[swogerino]

Today I was scrolling the internet when I read an article about how bad the management of Ethereum Foundation is,they said that at first the people who would stake 32 ETH who would act as validators for the transactions they would get the rewards for doing such verification once every 6 months,then they said it would be about 6 months to 1 year and lately they said that these people who staked ETH will not get rewards before 2024 by validating transactions and nor can they withdraw their ETH or anything.

Does this not show a complete failure of PoS against PoW?What about the next ETH,who will it be,ETC,ERGO,RVN or ETHW as I don't see any other alternative except this ones.Nevertheless mining is much better than staking as we are seeing with Ethereum and the bullshit of saving energy is just that bullshit,PoW is and will always be the winner between these two protocols.

[1715699385]

1715699385

[1715699385]

1715699385

[1715699385]

1715699385

[1715699385]

1715699385

[vuli1]

usuly in POS you got rewards every transcation your node confirmed. this is strange and I would not like it.

[FloppyPurpleGherkin]

who will it be,ETC,ERGO,RVN or ETHW as I don't see any other alternative except this ones.

Kaspa.

[devil2man]

Let's say that the transition of eth from pow to pos was not a success the rewards only in a few years for the nodes, not being able to withdraw the eth placed in pos (although after the Shanghai update it will become possible) at the same time there are still no valid alternatives sure there is ethw but the earnings are not the same

[sxemini]

Let's say that the transition of eth from pow to pos was not a success the rewards only in a few years for the nodes, not being able to withdraw the eth placed in pos (although after the Shanghai update it will become possible) at the same time there are still no valid alternatives sure there is ethw but the earnings are not the same

You get under 5% per year for staking eth - so the "rewards" is also low as the mining profits at the moment. i don´t see a reason to stake over 32000€ for 5% yearly and loose the capability to sell my coins for years.
Zilliqa for example is PoW/PoS, you get 16% for staking, you can withdraw it every time and you can mine it. Only an example!!!!

ERGO lost much of the reputation after this BlockTime disaster and the in my opinion not successfull hardfork, the stolen ETC twitter account and so on.

[FP91G]

Withdrawal of staked ethereums is being tested
Ethereum developers launched a new devnet to test the unlocking of ether staked with validators.
The devnet prepares Ethereum client teams to open up validator staking withdrawals next year.
https://www.theblock.co/post/189496/ethereum-client-teams-test-staking-withdrawals-on-devnet

[Bitcoin_Arena]

Today I was scrolling the internet when I read an article about how bad the management of Ethereum Foundation is,they said that at first the people who would stake 32 ETH who would act as validators for the transactions they would get the rewards for doing such verification once every 6 months,then they said it would be about 6 months to 1 year and lately they said that these people who staked ETH will not get rewards before 2024 by validating transactions and nor can they withdraw their ETH or anything.

I have been following ETH so much especially after going POS

Why do they keep extending reward payment further?

Does this not show a complete failure of PoS against PoW?What about the next ETH,who will it be,ETC,ERGO,RVN or ETHW as I don't see any other alternative except this ones.Nevertheless mining is much better than staking as we are seeing with Ethereum and the bullshit of saving energy is just that bullshit,PoW is and will always be the winner between these two protocols.

Obviously, it would only be those who are less informed that would think that POS is better than POW

[FP91G]

And why now sell ethereum for 1100-1200 dollars? I have read that stakers can spend their rewards and the remaining coins will be available for withdrawal next year.You need to follow the results of testing the withdrawal of staked coins.

[ccplz]

I'm not familiar with how ETH works, if I staked my ETH let's say 2 years ago, when will I be able to have access to them(approximately)

[philipma1957]

I'm not familiar with how ETH works, if I staked my ETH let's say 2 years ago, when will I be able to have access to them(approximately)

MAYBE Dec 2023.

no sooner.

[joker_josue]

Does this not show a complete failure of PoS against PoW?What about the next ETH,who will it be,ETC,ERGO,RVN or ETHW as I don't see any other alternative except this ones.Nevertheless mining is much better than staking as we are seeing with Ethereum and the bullshit of saving energy is just that bullshit,PoW is and will always be the winner between these two protocols.

In a way I agree with you, that PoW will always be the most secure and decentralized form for a digital currency.

The problem at the moment of mining is the cost of energy in many countries of the world, especially in Europe. This makes it difficult for some people to continue to mine coins that are currently of very little value. This can lead many to prefer to bet on PoS.
Even so, I am of the opinion that it would be better to take part of the money that would be to pay for energy, and use it to buy BTC.

[swogerino]

Does this not show a complete failure of PoS against PoW?What about the next ETH,who will it be,ETC,ERGO,RVN or ETHW as I don't see any other alternative except this ones.Nevertheless mining is much better than staking as we are seeing with Ethereum and the bullshit of saving energy is just that bullshit,PoW is and will always be the winner between these two protocols.

In a way I agree with you, that PoW will always be the most secure and decentralized form for a digital currency.

The problem at the moment of mining is the cost of energy in many countries of the world, especially in Europe. This makes it difficult for some people to continue to mine coins that are currently of very little value. This can lead many to prefer to bet on PoS.
Even so, I am of the opinion that it would be better to take part of the money that would be to pay for energy, and use it to buy BTC.

That is the way most people should adopt,those who cannot afford energy and are not willing like me to mine at a loss,they would be better to buy their favorite crypto in which they believe will skyrocket and use money that they would otherwise use on energy for mining to buy their beloved crypto.Personally I am mining at a loss,many consider it a gamble and that is what it is normally,I mine ETHW and hope the price of it to skyrocket.

Those who bet on PoS are already on the losing side as they are having difficulty to get any reward by their staked coins so let's wait and see what happens there.

[joker_josue]

That is the way most people should adopt,those who cannot afford energy and are not willing like me to mine at a loss,they would be better to buy their favorite crypto in which they believe will skyrocket and use money that they would otherwise use on energy for mining to buy their beloved crypto.Personally I am mining at a loss,many consider it a gamble and that is what it is normally,I mine ETHW and hope the price of it to skyrocket.

Are you just mining a coin?
A suggestion is to mine several coins, to keep an interesting amount of each one, in order to stay in the expectation of some increase in value.
This can reduce the impact of some currency appreciating and not being the one you hadn't mined. So, if you mine a little bit of all of them, you're better positioned for the future.

[FP91G]

Even before the core developers met, they’d determined that Beacon Chain withdrawals, or EIP 4895, was definitely going to be part of the fork. This means that once Ethereum goes through its next upgrade, users that staked ether prior to the Merge by locking them up in the Beacon Chain smart contract will be able to access them, along with any additional accrued rewards.

By the end of this call, the timeline for Shanghai wasn’t any clearer. Some developers want to expedite Shanghai and include only the ETH withdrawal EIP along with a few other smaller EIPs, sometime in March 2023. Then, a subsequent fork would include another significant scaling upgrade – proto-danksharding – and would ship sometime during the fall of 2023.

https://www.coindesk.com/tech/2022/11/24/ethereum-developers-agree-on-what-could-be-included-in-the-next-upgrade-but-not-when/

[philipma1957]

Even before the core developers met, they’d determined that Beacon Chain withdrawals, or EIP 4895, was definitely going to be part of the fork. This means that once Ethereum goes through its next upgrade, users that staked ether prior to the Merge by locking them up in the Beacon Chain smart contract will be able to access them, along with any additional accrued rewards.

By the end of this call, the timeline for Shanghai wasn’t any clearer. Some developers want to expedite Shanghai and include only the ETH withdrawal EIP along with a few other smaller EIPs, sometime in March 2023. Then, a subsequent fork would include another significant scaling upgrade – proto-danksharding – and would ship sometime during the fall of 2023.

https://www.coindesk.com/tech/2022/11/24/ethereum-developers-agree-on-what-could-be-included-in-the-next-upgrade-but-not-when/

For a coin that said it would be POS in Dec of 2017 and ended up going POS in Sept 2022 I think a very long wait is in store for all staked ETH.

I staked $300 worth on coinbase that is drawing a big 4%

So it is dropped in value to $234.87 including about $3 worth of interest.

It will continue to drift downwards as all the unstated coins are being slowly sold off into USD BTC LTC and DOGE.

Those staked coins help to anchor the price and slow the slide in value of the free eth coins that are being dumped as I type.

It is well worth it for me to have the $300 staked as it will give me rights to sue down the road.  Figure Dec 2023 to Feb 2024 for the crash to show better.

I say Jan 2025 will be when they 'free' the staked coins.

[swogerino]

That is the way most people should adopt,those who cannot afford energy and are not willing like me to mine at a loss,they would be better to buy their favorite crypto in which they believe will skyrocket and use money that they would otherwise use on energy for mining to buy their beloved crypto.Personally I am mining at a loss,many consider it a gamble and that is what it is normally,I mine ETHW and hope the price of it to skyrocket.

Are you just mining a coin?
A suggestion is to mine several coins, to keep an interesting amount of each one, in order to stay in the expectation of some increase in value.
This can reduce the impact of some currency appreciating and not being the one you hadn't mined. So, if you mine a little bit of all of them, you're better positioned for the future.

I am only mining ETHW as a gamble and I believe truly a lot in RTM-Raptoreum which I have about 4000 of them already and doing about 25-40 daily,I think the team behind them is truly masterpiece from what I understand from their road map.I do this and I keep SHIBA,ZIL,Litecoin and I also keep my main one the Bitcoin so I think I am already stocked up good for the next bull run but since the next bull run I predict it to be on 2024-2025 mostly 2025 so until then I hope to have more.

As for ETH which betrayed all of us I hope only misery finds this coin which is doomed to fail,for other people who have ETH laying around I suggest to convert them to Bitcoin while the exchange ratio is still good or if they insist to keep it waiting for a recovery then doom is inevitable for them too.

[OgNasty]

Even before the core developers met, they’d determined that Beacon Chain withdrawals, or EIP 4895, was definitely going to be part of the fork. This means that once Ethereum goes through its next upgrade, users that staked ether prior to the Merge by locking them up in the Beacon Chain smart contract will be able to access them, along with any additional accrued rewards.

By the end of this call, the timeline for Shanghai wasn’t any clearer. Some developers want to expedite Shanghai and include only the ETH withdrawal EIP along with a few other smaller EIPs, sometime in March 2023. Then, a subsequent fork would include another significant scaling upgrade – proto-danksharding – and would ship sometime during the fall of 2023.

https://www.coindesk.com/tech/2022/11/24/ethereum-developers-agree-on-what-could-be-included-in-the-next-upgrade-but-not-when/

For a coin that said it would be POS in Dec of 2017 and ended up going POS in Sept 2022 I think a very long wait is in store for all staked ETH.

I staked $300 worth on coinbase that is drawing a big 4%

So it is dropped in value to $234.87 including about $3 worth of interest.

It will continue to drift downwards as all the unstated coins are being slowly sold off into USD BTC LTC and DOGE.

Those staked coins help to anchor the price and slow the slide in value of the free eth coins that are being dumped as I type.

It is well worth it for me to have the $300 staked as it will give me rights to sue down the road.  Figure Dec 2023 to Feb 2024 for the crash to show better.

I say Jan 2025 will be when they 'free' the staked coins.

I would agree with you about the staked coins being locked up for some time except that this is a little different from the move to PoS. People have money at stake here (literally) and when people can’t get their money things get dirty. I would be a bit surprised if these coins aren’t released well before the next bubble, otherwise people may start getting a little crazy. I doubt it’ll be early next year though. They can’t unleash all those coins at the bottom of the market without cratering ETH.

[joker_josue]

I would agree with you about the staked coins being locked up for some time except that this is a little different from the move to PoS. People have money at stake here (literally) and when people can’t get their money things get dirty. I would be a bit surprised if these coins aren’t released well before the next bubble, otherwise people may start getting a little crazy. I doubt it’ll be early next year though. They can’t unleash all those coins at the bottom of the market without cratering ETH.

This is where the question arises:
When people start withdrawing their coins, and their PoS earnings, will the currency really appreciate? Or as sales volume increases or coins in stake decrease, won't the market's perception increase, causing it to fall?

Personally I think that when people start raising their coins, the scenario will not be positive.

[philipma1957]

Even before the core developers met, they’d determined that Beacon Chain withdrawals, or EIP 4895, was definitely going to be part of the fork. This means that once Ethereum goes through its next upgrade, users that staked ether prior to the Merge by locking them up in the Beacon Chain smart contract will be able to access them, along with any additional accrued rewards.

By the end of this call, the timeline for Shanghai wasn’t any clearer. Some developers want to expedite Shanghai and include only the ETH withdrawal EIP along with a few other smaller EIPs, sometime in March 2023. Then, a subsequent fork would include another significant scaling upgrade – proto-danksharding – and would ship sometime during the fall of 2023.

https://www.coindesk.com/tech/2022/11/24/ethereum-developers-agree-on-what-could-be-included-in-the-next-upgrade-but-not-when/

For a coin that said it would be POS in Dec of 2017 and ended up going POS in Sept 2022 I think a very long wait is in store for all staked ETH.

I staked $300 worth on coinbase that is drawing a big 4%

So it is dropped in value to $234.87 including about $3 worth of interest.

It will continue to drift downwards as all the unstated coins are being slowly sold off into USD BTC LTC and DOGE.

Those staked coins help to anchor the price and slow the slide in value of the free eth coins that are being dumped as I type.

It is well worth it for me to have the $300 staked as it will give me rights to sue down the road.  Figure Dec 2023 to Feb 2024 for the crash to show better.

I say Jan 2025 will be when they 'free' the staked coins.

I would agree with you about the staked coins being locked up for some time except that this is a little different from the move to PoS. People have money at stake here (literally) and when people can’t get their money things get dirty. I would be a bit surprised if these coins aren’t released well before the next bubble, otherwise people may start getting a little crazy. I doubt it’ll be early next year though. They can’t unleash all those coins at the bottom of the market without cratering ETH.

I think Mr V.B. does not sleep well. I wonder how long before he cracks and pulls a Howard Hughes.

He has to be very paranoid about how many people are unhappy with him.

20 million a day in gross income went up in smoke 💨 when the genius did what he did.

that was more daily gross income then btc generates.

144x6.3x20000=18 million a day.

which is less.

the P.O.S. mad genius hurt.

Amazon
Amd
Asrock
Asus
Corsair
Delta
Evga
Gigabyte
Leadex
Lenovo
Microcenter
MSI
Newegg
Nvidia
PNY
Sapphire
Seasonic

The list above is far longer V.B.’s bright idea fucked every company I listed.

So I wish him the best of luck and a merry fucking christmas.

Many will say he promised to go POS and he did so what did he do wrong.

He can say that to himself every night he goes to sleep I am sure it with help him rest well.

[joker_josue]

the P.O.S. mad genius hurt.

Amazon
Amd
Asrock
Asus
Corsair
Delta
Evga
Gigabyte
Leadex
Lenovo
Microcenter
MSI
Newegg
Nvidia
PNY
Sapphire
Seasonic

The list above is far longer V.B.’s bright idea fucked every company I listed.

Of all this did not happen. They may have lost a good chunk of the revenue they had over the last few years, but these companies (at least most and the biggest ones) didn't rely on ETH mining.
We are talking about companies that existed before mining - many years before. And they have always been growing, as they are in a very strong and constantly growing market segment - games.

Furthermore, with the history of the metaverse and virtual/augmented reality, these companies still have a lot of room for growth and a lot of market to explore. Of course, the revenue immediately reduced, but it does not significantly affect them.

Perhaps the smaller companies felt a greater impact, but even so it shouldn't be a problem (if they know how to manage the situation well) as there is a lot of market available.