Quote from: kingcolex on February 19, 2019, 10:50:27 PM

Quote from: JayJuanGee on February 19, 2019, 10:35:35 PM

Quote from: becoin on February 19, 2019, 06:29:14 PM

Quote from: goldkingcoiner on February 19, 2019, 06:20:14 PM

Quote from: GHCoins45 on February 19, 2019, 05:30:28 PM

Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon

This has been said for forever, still nothing. I doubt anything will change.

LOL.
POW is where workers rule.
POS is where rent seekers rule.
You can never create sustainable economy where rent seekers rule!
Ethereum was created as a coin of the people that don't understand monetary theory by the people that don't understand monetary theory for the people that don't understand monetary theory!

In other words, POS and ethereum is/are a ponzi scheme...

Can make a lot of money, as long as you are in early... Cheesy

Personally, I am not interested in playing such a game, but there is about 99% of the world's population that has not yet been tapped, and plenty of them would like to attempt to get rich quick and don't mind gambling to attempt such richness, especially if they don't know what they do not know.

POW is the exact same thing,

This very statement causes me to speculate that you have little to no clue about what is bitcoin, and even though I don't claim to be any kind expert, especially when it comes to certain technical aspects of bitcoin, since I started in bitcoin, I have always had a bit of an understanding that POW tends to be the heart and soul of bitcoin's innovation that causes it's ability to progress towards sound money, which includes decentralization and censorship resistance - that are not mere platitudes because NO other coin comes even close to have those attributes and the solidness of the varying bitcoin (7 according to trace mayer) network effects.

I am not trying to be patronizing, but you seem to have a pretty decent knowledge gap (or drinking the wrong koolaid) if you are jumping through rationalizing hoops in an attempt to equate POW and POS.

Quote from: kingcolex on February 19, 2019, 10:50:27 PM

why do you think early miners get the worm, hell same with all investments.

Early miners "get the worm" or strive to get the worm for a variety of reasons, and likely those reasons changed over time, depending upon how "early" is the miner. People seem to get disgruntled about the concept of the early miner knowing more and getting in on the deal, before others even knew about bitcoin... surely there are problems with distribution, but miners (including early miners) are not the whole package when it comes to bitcoin distribution, either. There has been a bitcoin market price, that was nearly zero, in the beginning, so you would not need to mine bitcoin in order to get a shitload of them, early on... and you would not even had to have been early on, since 6 years later, in late 2015, you could have easily picked up a decent stash of BTC in the mid $250s, and well under $1k per BTC until early 2017.

The earliest of miners (talking Satoshi and Hal Finney and perhaps a few others that started mining in 2009 and 2010) were likely really curious by the mere technology of the bitcoin matter, and really bitcoin did not really have any market price during that early time, either. Yet the thinking of miners on the bitcoin topic likely varied and likely evolved as more and more started coming into bitcoin and early became less early and became more diverse including developing ideas about speculating about future BTC price and just merely contributing to such a paradigm shifting dynamic (hoping also to either profit with their participation or at least to be able to break even pay for their mining expenses along the way).

Quote from: kingcolex on February 19, 2019, 10:50:27 PM

Early makes it big, that's not Ponzi you think you would figure that the fuck out when in crypto people were calling Bitcoin a Ponzi.

Yeah, of course, people have been calling bitcoin a ponzi for various reasons along the way, but you don't need to buy into that kind of erroneous thinking in order to attempt to equate POW with POS.. And, yes, there has ben some false preconception and jealously to characterize early bitcoin adopters as being in a ponzi scheme because they have been able to accumulate more BTC than later adopters, but so fucking what? The fact that stupid-ass people place bitcoin into that category based on a kind of superficial understanding does not make POW similar to POS, in practice.

It seems that you, kingcolex, need to study a bit more about what is bitcoin, if you want to argue that kind of a dumb-ass POW is equal to POS assertion.

I don't claim to understand a lot about bitcoin, but I do understand that POS does not really add much of anything of value to any of the cryptos that have it or want to add it to their shit coin project, and a major part of bitcoin's whole contribution as a paradigm shifting invention is centered around POW which is quite distinguishable from POS and traditional fiat system.. and your attempt to convolute the matter (or not able to recognize what is POW) seems to demonstrate a decently large gap in your own appreciation and perhaps knowledge of what bitcoin is, including what is POW and how it sufficiently differs from POS.