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The whole point of the network is that it's owned and driven by the community. The community decided it was prudent to fork. It's not an issue with decentraliza

The whole point of the network is that it's owned and driven by the community. The community decided it was prudent to fork. It's not an issue with decentralization. The majority of the ETH world clearly does believe that, because ETH is where the vast majority of the community has stuck with.

jki275 8y ago
The majority of the community believed in the fork, that's what I meant if I wasn't clear. That belief is contra to the concept of an immutable decentralized ledger, which means ETH isn't canonically a cryptocurrency, an immutable ledger, or a decentralized ledger anymore. The upcoming (well, it's never going to happen) POS fork is going to centralize it further among the very small number of massive whales who control the ecosystem.
- Sargos 8y ago
  PoS is actually more decentralized when PoW. PoW is controlled by a few mining pools but PoS will have tens of thousands or more validators. In PoW only a few people have the resources to build and run mining farms. Certainly not me. In PoS anyone can stake on a desktop or laptop. This greatly increases the amount of people who can participate in the network.
  - jki275 8y ago
    In some cryptocurrencies that is certainly the case. If you look at the ETH ecosystem, it is massively concentrated and thus will never be decentralized in any meaningful way. With POW, anyone could participate, with POS most people will never have any ability to realistically participate. Just to clarify a bit in an edit here -- As a general comment about POS vx POW, you have to purchase a huge amount of the cryptocurrency to participate in POS in a meaningful way -- so there is a cost to that just as there is in mining. The recurring costs of electricity are not there in POS of course.
- tdmat 8y ago
  would you like to stake some ether on the claim that's it's never going to happen? I'm willing to bet 10 Ether we see POS before the end of 2021..
  - asynchrony 8y ago
    Ethereum does seem to be the platform of choice for odd gambling games.
  - jki275 8y ago
    I do not own and never will own any ETH. I'm relatively confident the network will never go POS, but not confident enough to put money on it anyway -- you never know what these kids will pull.

jki275 8y ago

The majority of the community believed in the fork, that's what I meant if I wasn't clear. That belief is contra to the concept of an immutable decentralized ledger, which means ETH isn't canonically a cryptocurrency, an immutable ledger, or a decentralized ledger anymore. The upcoming (well, it's never going to happen) POS fork is going to centralize it further among the very small number of massive whales who control the ecosystem.

Sargos 8y ago
PoS is actually more decentralized when PoW. PoW is controlled by a few mining pools but PoS will have tens of thousands or more validators. In PoW only a few people have the resources to build and run mining farms. Certainly not me. In PoS anyone can stake on a desktop or laptop. This greatly increases the amount of people who can participate in the network.
- jki275 8y ago
  In some cryptocurrencies that is certainly the case. If you look at the ETH ecosystem, it is massively concentrated and thus will never be decentralized in any meaningful way. With POW, anyone could participate, with POS most people will never have any ability to realistically participate. Just to clarify a bit in an edit here -- As a general comment about POS vx POW, you have to purchase a huge amount of the cryptocurrency to participate in POS in a meaningful way -- so there is a cost to that just as there is in mining. The recurring costs of electricity are not there in POS of course.
tdmat 8y ago
would you like to stake some ether on the claim that's it's never going to happen? I'm willing to bet 10 Ether we see POS before the end of 2021..
- asynchrony 8y ago
  Ethereum does seem to be the platform of choice for odd gambling games.
- jki275 8y ago
  I do not own and never will own any ETH. I'm relatively confident the network will never go POS, but not confident enough to put money on it anyway -- you never know what these kids will pull.