There won't be any miners in the traditional sense. Only payers of transactions, who must include a PoW share else their transaction will not be accepted on the block chain. They mine at a loss. Consider it a transaction fee. They have a Nash equilibrium incentive to make sure they mine on the longest chain so their transactions get included on the chain and also possibly a less than profitable block reward.

So yes this requires a good volume of transactions.

Yeah I want to kill mining. Sorry if any with mining equipment hate me for that. I'd be quite pleased if I could turn Bitcoin mining farms into warehouses of expensive doorstops.


Yeah expect ETH to be pumped again with hype on the next upgrade. I tried my best to make it more difficult for them to hype the PoS(hit). But I assume they will invent some new technobabble (if they don't actually invent a true solution).

I tried to my best to force the price lower (by explaining the technological flaws) so they couldn't raise more funding, but perhaps I didn't succeed although I see the price plummeted to 0.01 BTC since I started posting today. When I called the double-top at 0.016, I was preparing to unleash this onslaught on their coin and marketcap. If you attribute the decline to me, then I guess I erased about $200+ million from their market cap. So that makes me feel like it wasn't a complete waste of my time.

But I didn't stretch the truth nor did I short ETH. I earned nothing on this except some satisfaction and perhaps some reputation (some haters too I am sure).