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Is Ethereum screwed?

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skreza
60
9 days agoBusy2 min read

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Ethereum still has large daily volume, but that comes from people dumping it crazy.

The reduction in block reward, the change in their internal structure and most importantly moving into PoS where one might get punished and losing all the coins which they stake is a prime reason.

Ethereum doesn't have any supply limit, that's why the developers thought by reducing block rewards they can reduce the supply and increase price, but to me it appears like this whole change is backfiring.

According to rumours, in order to mine ether one needs to stake a minimum of 100 ether into their wallet which needs to be installed on a computer, and that computer/wallet needs to be online all the time, and if it somehow gets offline for a while, the miners will loose all their stake, I guess that's impossible to do with our home computer and we probably needs to rent expensive servers which never gets offline, but is that even possible as many large servers would often go offline for a small time due to maintenance.

Moreover, miners have invested a big amount on their GPU rigs just for ethereum and now this, well GPU miners will probably shift to another coin, which is asic resistant and also safe from 51% attack.

Have you been mining ether for a while? What to you think of this change, and then how are you planning for an alternative use for you mining hardware.. Share it in the comment below, or if you have an article published on this topic, feel free to drop your link in the comment below, and most importantly upvote this post.

Thanks
@skreza

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