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Have to agree. Just curios what happens to the whole thing if Ethereum switches to POS.

undersuit 5y ago
I don't think Ethereum will ever switch. The miners control the chain now, POS will disrupt that. The miners can't make an orderly exit of resources or to a new coin so they will persist on the dominant PoW-Eth while PoS-Eth loses all chain resources.
- thebean11 5y ago
  > while PoS-Eth loses all chain resources What do you mean by this? Miners are not needed on the PoS chain, and the PoS chain cannot be attacked with PoW resources. The end users (people transacting in ETH and launching smart contracts) will decide which chain is valuable and which isn't.
- delaaxe 5y ago
  If the POW miners continue mining, that’ll create a fork which will quickly become unprofitable because of the difficulty bomb, and all of the stable coins on the fork will become valueless rendering the fork useless.
  - cinntaile 5y ago
    It's just code, what is stopping them from removing the difficulty bomb?
    - delaaxe 5y ago
      Nothing, but that'll just create yet another fork, just like Ethereum Classic, which is completely worthless
- latchkey 5y ago
  > The miners control the chain now "difficulty bomb"
  - undersuit 5y ago
    > The miners control the chain now Who wants to vote in a little less difficulty so we can continue mining?
- pazimzadeh 5y ago
  "If all miners do not make the switch to Proof of Stake, then there is the danger that ethereum’s blockchain might fork. A similar situation occurred in 2017, when bitcoin miners forced a fork in its blockchain by throwing their weight behind bitcoin cash. Ethereum’s founders, however, foresaw such an eventuality and programmed its blockchain to incorporate increases in difficulty levels for its mining algorithm" https://www.investopedia.com/news/what-ethereums-difficulty-bomb/ https://www.investopedia.com/news/what-ethereums-difficulty-...
Blackthorn 5y ago
The problem is the "if" in that sentence is doing a lot of work. POS has been six months away for several years.

I don't think Ethereum will ever switch. The miners control the chain now, POS will disrupt that. The miners can't make an orderly exit of resources or to a new coin so they will persist on the dominant PoW-Eth while PoS-Eth loses all chain resources.

thebean11 5y ago
> while PoS-Eth loses all chain resources What do you mean by this? Miners are not needed on the PoS chain, and the PoS chain cannot be attacked with PoW resources. The end users (people transacting in ETH and launching smart contracts) will decide which chain is valuable and which isn't.
delaaxe 5y ago
If the POW miners continue mining, that’ll create a fork which will quickly become unprofitable because of the difficulty bomb, and all of the stable coins on the fork will become valueless rendering the fork useless.
- cinntaile 5y ago
  It's just code, what is stopping them from removing the difficulty bomb?
  - delaaxe 5y ago
    Nothing, but that'll just create yet another fork, just like Ethereum Classic, which is completely worthless
latchkey 5y ago
> The miners control the chain now "difficulty bomb"
- undersuit 5y ago
  > The miners control the chain now Who wants to vote in a little less difficulty so we can continue mining?
pazimzadeh 5y ago
"If all miners do not make the switch to Proof of Stake, then there is the danger that ethereum’s blockchain might fork. A similar situation occurred in 2017, when bitcoin miners forced a fork in its blockchain by throwing their weight behind bitcoin cash. Ethereum’s founders, however, foresaw such an eventuality and programmed its blockchain to incorporate increases in difficulty levels for its mining algorithm" https://www.investopedia.com/news/what-ethereums-difficulty-bomb/ https://www.investopedia.com/news/what-ethereums-difficulty-...

Blackthorn 5y ago

The problem is the "if" in that sentence is doing a lot of work. POS has been six months away for several years.