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And if the exchanges choose "both"? This has happened with multiple Bitcoin forks.

• wmf 5y ago
  The chain that the exchanges call ETH will have virtually all the value.
  • bastawhiz 5y ago
    If the value of the coin is based on the energy required to mine the coin, then surely the value won't change substantially for the PoW rebel fork, since the "real" value remains unchanged. Nobody wants to throw away their millions of dollars of GPUs. Despite the many problems with PoW, it's at least easy to see why PoW mining's output has any value of its own. Unless the value never really was tied to the energy use in the first place, which isn't a great story for folks who want to treat the coins as anything other than speculative assets.
    • wmf 5y ago
      Value has never been based on energy; value comes from demand which is created by FOMO and enabled by exchanges where people can buy in. Of course crypto is entirely speculative.