I’d like to ping this topic again. Here it is the end of 2020 and POW is still working.
I still maintain the opinion that the move to POS could effectively harm the eth economy. It’s no BTC, to be sure but ethereum has grown tremendously and with so many erc-20 tokens relying on the stability of a working system it will be really interesting to see how this plays out. From the start of this thread you can see how long they’ve been planning to move from mining to staking but always seem to get delayed or run into problems. Any opinions on this?
How many successful pow coins are out there.
None that have gone up 10x and stayed up.
I guess you could argue ripple is successful. But not so much.
Eth will play with pos and if anything if they push it hard and truly look to go to pos then ETC may benefit.
You guys remember the coin that was suppose to be Ethereum competition back in 2016 or so called Lisk (LSK). It was basically similar to ETH except that it was POS from the beginning. Many argued that ETH was in trouble because POS was the future and LSK would quickly overtake ETHs market share. And now how is LSK doing exactly?
Its around $1 or so, and has a marketcap of less than $200 million while ethereums is $68 billion. So just because its POS isn't necessarily always a bullish thing. I think ETHs hashrate distribution is pretty fair in my opinion. Many people at home are mining it with their GPUs and securing the network. Probably even more home miners on ETH than BTC which is largely controlled by huge farms. What POS will do is reduce the carbon footprints but what will happen only the rich 1% will be mostly the ones staking. And it will become similar to how wealth is distributed today.
spot on , its the wave of the future though these big project owners hate the fact they have to rely on miners to secure things and the hate even more giving us what the feel are ‘free’ tokens, they totally forget we are destroying our hardware and living with mad noise and handling heat etc