... it seems you all don´t get it:
You can´t escape the difficulty bomb !
Do your own research or cry later !
You can´t escape the difficulty bomb !
Do your own research or cry later !
well it's not like ETH si the only coin that you can mine out there, plenty of choice are awaiting you, just mine somethign else, oh wait amd can not, because they are stuck with ETH, will be funny to see the huge hashrate desperately switch to another alt when ETH go pos
Actually, I went back and checked my posts from last year; I said the slowdown in rewards (slowing average block times) would start in April 2017 and it did start in April 2017.
14seconds to 14.3seconds average block time before April 8th.
Afterwards, slowed to around 14.8 seconds.
27th April slowed to around 15.2 seconds.
13th May slowed to around 15.85 seconds.
29 May slowed to over 16 seconds.
21 June slowed to over 17 seconds.
So far - there has around 21.8% reduction of Ethereum rewards for POW.
In july block times will increase to 30 seconds so it will be pretty bad then.
That could cripple the network considering the congestion currently is getting bad.
Which could mean panic sells and price dump among the fear.
The price of Ethereum is high because mining rewards are being reduced. So, I'm sure the Ethereum price will do just fine - because people have been snapping up Ethereum because they know it will be rarer tomorrow, than today!
Congestion is being artificially created by the structure of Initial Coin Offerings - they do time limited offerings, which encourage people to try to watch the blockchain and then throw in their Eth at the last minute when they think it has been underfunded and they will get more of the new tokens for each Eth.
However, it is better to have all of this ICOs business in the long-run - a little short-term inconvenience always comes along with a rapidly growing ecosystem.
No the price of ETH was much higher $400 while mining rewards were higher and now less rewards yet price has slide down nearly $80
Look at this chart and tell me if you think 30 sec or 1 min block times won't cause problems https://etherchain.org/charts/capacity