Ethereum and Proof of Stake

Until when will it actually work? ETH? And what is proof of stake??

Estimated Proof of Stake date: 2025 to never.

At the beginning of the article, we will explain what ¨Proof of Stake¨ actually it is.. This is MAINLY a state when it is revealed and confirmed publicly, one person or entity (team, club, etc.) who holds more than 51% all of them ETH (the article in the ¨51% ATTACK¨ link focuses on BTC however, the rules and risks apply equally to ETH). And that actually controls the currency. It goes from decentralization to centralization.. Which is basically contrary to the idea of a crypt as such. As this state allows him to invalidate the rest ETH or bend or change the transfer history and become an unlimited ruler over the entire crypt. Such a block (called GENESIS 60+12 million ETH) actually exists and belongs to the group around Vitalik.

The official announcement of ¨Proof of Stake¨ hereinafter referred to as ¨PoS¨ was according to Vitalik pros ETH on 12.12.2022/13/XNUMX, which is about XNUMX months from today.

However, it should be noted that PoS has already been announced 7 times.. And the more it is ETH in circulation, the older it is EPOCH (algorithm complexity) and the higher the value, the harder PoS is feasible without impacting trust, overall market value and price. So the next ¨postponement¨ is on...

What makes Proof of Stake dangerous…

The main danger lies in the essence itself. Although POS promises to reduce the demands on HW, it prepares us for hard fork, promises decentralization and better protection and Web3.. But the truth is that this act reveals the owner of more than 51% of the share.. We know from the algorithm that the maximum number ETH there should always be approx. 100 in circulation.. And others are actually so-called they burn after their trading... In reality, however, we have 117 million in circulation ETH. An imbalance situation occurred when the very first first block was rolled out. Miner received 60 mil. ETH + reward 12mi. ETH as the domain of the DEV team.. The owner of this block is supposed to be a group of managers whose member is Vitalik... According to available information, thanks to PRE-MINING (Pre-Mining) got that number to 72 million in real terms. ETH. That's right ETH written and anyone can verify it.. So it can be said that someone has been holding us ¨by the throat¨ for some Friday.. And at the same time the currency is prospering, attacking new heights, it has produced not one billionaire, hundreds of millionaires and an extreme number of people on ETH de facto got rich no matter what. Quick speculation on the stock market, long-term holding, or mining itself... The main reason why ETH our trust is that whatever happens on the network must be confirmed by the network and saved in the public log so that everything can be safely verified. using PoS) and invalidate or transfer yours ETH to your shrejtofli.. Or simply make such a mistake in functioning ETH that you would absolutely lose control over it and the possibility to verify transactions retroactively. It's something that will basically cause waves in the sea of cryptocurrencies.. Ugh.. if you're also hot right now and it's not like me because I'm breathing down my neck RIG s 3090tkama.. I will now give you a very refreshing view of the matter by showing you that your investment in RIGů or the crypt is actually not that much endangered..

3x NO aka why PoS basically won't happen.

But we will look at the reasons why this step is more than unlikely. One of the main reasons is that PoS devalues the price.. Imagine if CEZ, for example, took a similar step (selling shares in foreign acquisitions, revealing politically unsuitable holders or partners) devalued the price of its shares by half.. I bet that if anyone is reading the article right now those who have shares in ČEZ began to sweat... The logic of the matter clearly tells us that such a step is pointless. Another thing is the pressure of miners to prevent PoS from happening.. Keep in mind that both Nvidia and AMD (the biggest miners in the world :) have ETH extreme investment.. Either in the HW on which it is mined or in the crypt itself. Both mentioned companies in addition to ETH developed special HW intended only for mining ETH.. That's an investment in the order of billions of dollars. After PoS and split, the algorithm will not be backwards compatible. I personally see Nvidia and AMD as guarantors of the future ETH, but the question is how long are their fingers. (Let's hope that both Russia and America have v ETH saved enough rubles and will push for PoS not to happen) And then there is a base of miners with mining RIGor full ordinary GPU or FPGA miners.. (which I cannot recommend due to the quality of the processing and month by month decreasing performance unlike GPU).. None of us wants PoS..

And what if it really happens?

Now let's play with imagination a little. Let's rebuild possible after PoS and talk about how to solve them..

Collapse

Miners are switching to alternatives such as MONERO , KARDANO, ZCASH, RAVENCOIN and are gradually replacing them ETH both in terms of price and volume.. The world keeps turning even without it ETH, people don't hang from lamps and an asteroid didn't hit the earth and there wasn't a nuclear war... Ugh.. So put your feet on the table, wipe your forehead and grit your teeth.. now a less profitable period will come, until the crypto-favorite stabilizes. Join your farm.. Your miners are safe and you just switch FLYGHTSHEET to your favored crypto in HIVEOS.. (2 minutes question..) now there is nothing left to do but wait.. The above mentioned cryptocurrencies are catching up to their original value ETH. In about 1 month. However, only one gets to prominence and stabilizes within the next 3-5 months. The wrinkles on the miners' foreheads are slowly disappearing and we are already wondering how rigy move or open which window, because it is spring and it is necessary to cool properly..

Split

PoS will occur on the announced date. ETH it becomes centralized it becomes a mainstream commodity. This basically devalues the price as it violates the idea of a decentralized cryptocurrency and thus the loss of trust in security ETH. Miners are mixed in and sell some ETH and the part is still held (so-called: HOLD). But this action will give birth at that moment ETH2 YAY! Just as it was created ETC po DAO eventu (or HARD-FORK) When due to an attack on ETH part ETH deleted and the value was output in ETC to the damaged owners.. Or when the DAG went over 4GB and those GPUs were no longer able to continue with ETH miners harnessed a 4GB GPU to ETC and that skyrocketed in price.. Everyone is a bit shaken, but ETH2 is now a new idol that will bring us up to an economic month from the depths of laconic poverty.. Within 3-6 months ETH2 reaches the original value ETH before PoS. It falls to a third where it stagnates. ETH it practically passes into the trade zone between stocks, thereby ending up on a pile of speculative commodities like GameStop, SpaceX or DodgeCoin, etc.

So put your feet on the table and join your farm.. Your miners are safe and you just switch the FLYGHTSHEET to ETH2.. (question of 2 minutes..) because this way it switches practically the whole world because it uses the same algorithm (Dagger Hashimoto) price ETH2 are flying up and stabilization is expected within 2 months.. The situation is improving, antidepressants are no longer needed and the snow is melting outside. (That is, if you live in the mountains and not in the center of Prague) It's still warm behind the stove, so we happily lie down to the hum of the GPU..

Delay..

PoS will occur on the announced date.. ETH is centralized

No No No No.. I'm just teasing you, the PoS did not happen and the deadline was extended again to 27.5.2025/XNUMX/XNUMX.. everyone took a breather, put away the screwdrivers, the miners deleted the pre-prepared advertisements for the sale of GPUs, the plans for ¨what to mine now and how¨ with a slight bitterness in our mouths, we hide it in a lockable drawer in the study, the designers threw in the trash the GPU purchase plans for the data centers for a mouthful, and our blood pressure dropped.. Price ETH slightly fluctuated by approx. 8-14% due to panic reasons.. price ETC rose slightly, a few billion dollars moved on the stock market, but otherwise nothing serious happened. in approximately 2-4 months, the price climbs to the top again and breaks records. Nvidia and AMD join hands with me because the business is now flourishing even more.. The demand is so high that the desperate gaming community buys its own machine for the production of chips with 32 to 22nm technology (which is not the best, with power consumption it will be at the level of the R7 290, but it will to work), buys a license from both companies for OUTLET GPU.. and revives RX470/570 and GTX1060 for the company's header: From gamer's to Gamer's.. Thanks to this, the cards have a higher consumption by approx. 30%, but this does not deter real gamers.. they are interested FPS only. You can now use your 2 minutes preparing to change the flight sheet to cut an apple into small pieces, watch an advertisement, call your mother or joyfully jump over a jump rope.. or watch the intro of your beloved game that you skip every time.. because your rigy filled with silicon gold are SAFE AND SOUND just like the rest of the world.

So in conclusion..

In conclusion, we can only conclude that PoS will take place with the greatest probability not.. even if it does.. Your investment in RIGů from us it will not be extremely dangerous.. We will always be ready to lend a helping hand to all miners or players who do not know how to deal with the development of the market.. We are based on almost 7 years of mining experience.. Where to start ETH with us they mined at R7 280, R9 290 etc.. Directly at our store in Opletalov 20 where you too can jump on the cryptocurrency wave with us.. and become a member of this growing community..

Disclaimer

The article was created based on almost 7 years of experience with cryptocurrencies and mining. That is, a time when there were several incidents of devaluation, theft, instability of the algorithm, splits and speculations on the stock market.. Although this is not a 100% guide and guarantee, it will give you a very good idea of what PoS can do for you as an active or potential miner mean.. We have always managed as a community and at the same time managed not to pee our pants..

So I'm not responsible for a fire in your garage due to unchecked cables at the riser, a solar eclipse, an EMP explosion sending all the ¨calculators¨ to silicon heaven, the return of Traveler or a zombie apocalypse like Left4dead.