3 ms·

Is that actually the case? Couldn't a new player with the money to spend become a stakeholder overnight by purchasing large amounts of ETH on the open market an

Is that actually the case? Couldn't a new player with the money to spend become a stakeholder overnight by purchasing large amounts of ETH on the open market and staking it? Versus taking that money and taking months to invest it into mining. Purchasing compute power is harder than purchasing ETH no matter how you slice it

themagician 5y ago
In theory. Which is what the current stakeholders want. That was the value offer to do this in the first place. Either way, you end up with a currency that is far more centralized than most stable paper currencies. The number of large stakeholders in Etherum is probably measured in the thousands. PoS will just further consolidate the stakeholders over time. Ethereum isn't even reasonably transactable anymore. A single transaction costs like $40. As an actual currency, it died the same fate that Bitcoin did. Too few people hold too many coins, and then they make rules that only benefit increasing the price.