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Proof of stake is here in Ethereum 2.0 and it works great. Invest in that because this is the last hurrah for Bitcoin. The next cycle will be the “Ethereum is

Proof of stake is here in Ethereum 2.0 and it works great. Invest in that because this is the last hurrah for Bitcoin. The next cycle will be the “Ethereum is the new better Bitcoin” cycle. I say that as someone with almost all my net worth in Bitcoin but it has miserable transaction speed and energy usage. History has shown us that not innovating has never worked out for any company I can think of.

Fede_V 6y ago
I've been reading a few of the white papers about this, but I'd absolutely love to go deeper in this. Do you have any suggestions? I am especially interested in assessment about CO2 emissions from credible sources (please, no VCs with zero training in physical sciences posting thought leadership pieces, I beg you).
BobbyJo 6y ago
Maybe I'm a huge cynic, it certainly wouldn't surpris me, but I think the people pumping up crypto this cycle aren't necessarily the kind that care about the difference. If anything they'll stay away from ETH because it lacks a long term cap.
- yokem55 6y ago
  One of the changes going into the July update is a transaction fee change that burns (throws away) part of the transaction fees. That will put some deflationary pressure on total issuance, while at the same time, when they switch to the staking chain total new issuance will be drastically cut since running a validator is far more efficient then mining. What the long term inflation rate will be then is really set by the demand for transactions and how much congestion there will be on their network, driving up transaction prices and fees burned (or not).
WanderPanda 6y ago
So you are saying your money is not where your mouth is?
qertoip 6y ago
Incorrect, Ethereum is still using PoW.
dehrmann 6y ago
If all you care about is energy usage and transaction speed, the traditional finance system still wins. Unless people are actively trading bitcoin enough where the transaction cost because an issue, there's little reason to trade in their tulip bulbs for iris bulbs. A bet on a cryptocurrency is a bet that people will think it's worth more money, not an investment in the underlying technology.
- capableweb 6y ago
  > If all you care about is energy usage and transaction speed, the traditional finance system still wins Does it though? There are so many things to consider when talking about the "energy usage" of traditional money. All the vans moving money around, manufacturing, items to support PoS systems, sorting, protecting the money and so on.
  - deleted 6y ago
    [deleted]
  - Nursie 6y ago
    > There are so many things to consider when talking about the "energy usage" of traditional money. Yes, so many things that BTC will never do. It's vastly less efficient and offers nothing like the range of services and products of the existing finance system.
- base698 6y ago
  Any idea where I can keep my money and generate 10 - 20% passive income like you can with DeFi in the traditional system? Most savings account have negative interest rates currently.
pcthrowaway 6y ago
It's coming, but it's not there yet; you can't buy PoS ETH on any exchange I know. May be anywhere from 1-3 more years, but hopefully sooner. There have been coordinated efforts by the ETH miners to prevent the transition which has resulted in a political clusterfuck in the Ethereum landscape. Cardano is the top cryptocurrency currently on PoS, and while I agree that the next cycle will be the ETH cycle, I think the one after that could be the ADA cycle.

Fede_V 6y ago

I've been reading a few of the white papers about this, but I'd absolutely love to go deeper in this. Do you have any suggestions? I am especially interested in assessment about CO2 emissions from credible sources (please, no VCs with zero training in physical sciences posting thought leadership pieces, I beg you).

BobbyJo 6y ago

Maybe I'm a huge cynic, it certainly wouldn't surpris me, but I think the people pumping up crypto this cycle aren't necessarily the kind that care about the difference. If anything they'll stay away from ETH because it lacks a long term cap.

yokem55 6y ago
One of the changes going into the July update is a transaction fee change that burns (throws away) part of the transaction fees. That will put some deflationary pressure on total issuance, while at the same time, when they switch to the staking chain total new issuance will be drastically cut since running a validator is far more efficient then mining. What the long term inflation rate will be then is really set by the demand for transactions and how much congestion there will be on their network, driving up transaction prices and fees burned (or not).

WanderPanda 6y ago

So you are saying your money is not where your mouth is?

qertoip 6y ago

Incorrect, Ethereum is still using PoW.

dehrmann 6y ago

If all you care about is energy usage and transaction speed, the traditional finance system still wins. Unless people are actively trading bitcoin enough where the transaction cost because an issue, there's little reason to trade in their tulip bulbs for iris bulbs. A bet on a cryptocurrency is a bet that people will think it's worth more money, not an investment in the underlying technology.

capableweb 6y ago
> If all you care about is energy usage and transaction speed, the traditional finance system still wins Does it though? There are so many things to consider when talking about the "energy usage" of traditional money. All the vans moving money around, manufacturing, items to support PoS systems, sorting, protecting the money and so on.
- deleted 6y ago
  [deleted]
- Nursie 6y ago
  > There are so many things to consider when talking about the "energy usage" of traditional money. Yes, so many things that BTC will never do. It's vastly less efficient and offers nothing like the range of services and products of the existing finance system.
base698 6y ago
Any idea where I can keep my money and generate 10 - 20% passive income like you can with DeFi in the traditional system? Most savings account have negative interest rates currently.

pcthrowaway 6y ago

It's coming, but it's not there yet; you can't buy PoS ETH on any exchange I know. May be anywhere from 1-3 more years, but hopefully sooner. There have been coordinated efforts by the ETH miners to prevent the transition which has resulted in a political clusterfuck in the Ethereum landscape. Cardano is the top cryptocurrency currently on PoS, and while I agree that the next cycle will be the ETH cycle, I think the one after that could be the ADA cycle.