In just a few short weeks, the much-anticipated Ethereum proof-of-stake (PoS) upgrade will finally go live. According to the latest update from the Ethereum Foundation, The Merge will not improve fees or throughput for users - but that's not stopping people from getting excited about it.
After years of waiting, the moment is almost upon us. Around September 15, the Ethereum network will finally make the long-anticipated switch from proof-of-work (PoW) to proof-of-stake (PoS).

The Merge has been billed as a major upgrade that will improve the efficiency of the Ethereum network and reduce fees for users.  But in a recent update, the Ethereum Foundation has clarified that The Merge will not actually reduce onchain fees.
This news may come as a disappointment to many who were hoping that The Merge would finally bring relief to the high fees plaguing the Ethereum network. But it's important to remember that The Merge is not about reducing fees - it's about improving the efficiency of the network.
Some people seem to think that The Merge will magically make gas fees disappear. Unfortunately, that's not how it works.
The fact is, gas fees are a product of network demand. And while The Merge will change some parameters that could theoretically impact network capacity and throughput, it won't do anything to directly reduce the amount of traffic on the Ethereum network.
So if you're looking for a break on gas fees, you're going to be disappointed. The Merge is not some magical solution to high fees - it's just a necessary step to keep the Ethereum network running smoothly in the future.
In the meantime, fees on the Ethereum network have actually been fairly low lately. In fact, they've been some of the lowest they've been all year. So if you're looking to save on fees, now is actually a great time to be using Ethereum.

Not that the only good thing was the reduction of the gas fee, but That seems like it can bring some traction in a negative way. What do you think?
Also, what are miners transferring to now that Eth will become PoS?

 

And just like that, ETH price is back below $1,600.

What a difference a few days can make in the world of cryptocurrency. Just last week, Ether was on a tear, flirting with the $2,000 mark and giving crypto investors hope that the digital currency might finally be staging a strong recovery after the devastating meltdown in May and June.

But those hopes were dashed this week, as Ether plunged to $1,600 on Friday after a series of bad news ranging from heightened fears about inflation to the monetary policies adopted by the U.S. FED.

The sell-off was widespread, with nearly all major cryptocurrencies posting double-digit percentage losses. Bitcoin, the world’s most valuable cryptocurrency, was hit the hardest, wiping out weeks of gains and plunging to $21,230.

Meanwhile, SHIB kept holding on despite the bears' best efforts. It looks like this is linked to a recent increase in the coin's burn rate. Around 14 million SHIB were burned on August 17th, which then skyrocketed to over 170 million on August 18th.

So, what does the future hold for Ether and other digital currencies? It’s hard to say, but one thing is certain: the crypto markets are once again in a state of flux, the drop in crypto prices is but a reminder that the digital currency market is still highly volatile and susceptible to sharp sell-offs. So make sure to buckle up and hold on tight. It’s going to be a bumpy ride.

 

What do you guys think will happen with the transfer to PoS???

 
So, it looks like the Russians are finally getting on board with the whole digital currency thing. And by "on board," I mean they're planning to launch their own CBDC within the next two years.
So, the Bank of Russia is planning to launch a digital version of the ruble as early as next year. And by 2025, they want exchanges and non-bank financial entities to join in as well.

Do you guys think that will cause the Ruble to skyrocket once it is "online" - Will it be beneficial or not in your opinion?

 
Google may be the biggest tech giant in the world, but when it comes to blockchain and cryptocurrency, they're not afraid to open up their wallets and show some serious love.

According to a new report from Blockdata, Alphabet (Google's parent company) poured a whopping $1.5 billion into the blockchain industry between September 2021 and June 2022. That's more than any other public company during that time period.

So what does Google see in blockchain that has them throwing all that money around? Maybe they're finally ready to take crypto seriously? Or maybe they're just trying to stay ahead of the curve and be on the cutting edge of this new technology? This is a serious commitment to the space, and it's good to see that Google is finally taking blockchain technology seriously. With their deep pockets and expansive reach, they could really help take the industry to the next level.

The corporate world's sudden interest in blockchain technology is quite amusing. It's like they've just discovered fire. Or the internet. Among the top 40 companies, a total of $6 billion has been invested into blockchain technology in the past year. This is compared to a measly $1.9 billion between Jan 2021 and Sep 2021, and $506 million in 2020. The companies like BlackRock and Morgan Stanley are leading the charge, with investments totaling $1.17 billion and $1.11 billion respectively. Even Samsung, an electronics company, has invested $979.2 million. It's good to see that these companies are finally catching up to the times and investing in something that is clearly the future. But it does make you wonder what took them so long.

Hope this was helpful to some of yall! 

How accurate is this info guys - the prices in my county have been raising by the day, soon it is not going to be profitable to mine at all - BTC price low - electricity price sky high every day... soo where do we go from here?
 

So not that ETH is on the final stage before it switches to PoS what will you guys do with your rigs?

Do you have any recommendations to what one can switch? 

The ETHPoW (IOU) token, which was created in order to counter Ethereum’s future transition to proof-of-stake, has seen its price drop by over 50% in less than a week. This is likely due to the lack of support for the fork, as most people seem to be content with the proof-of-stake.

The token was created as a way to keep the proof-of-work system alive, but it appears that most people are not interested in using it. This is likely because proof-of-stake is seen as a more efficient and secure system, and there is no need to keep the old system alive.

The new ETHPoW project was supposed to be a big deal. But it quickly fizzled out, losing much of its value since its all-time high. So much for that!

What do you guys think is going to happen with Eth transitioning to PoS???

 
Are you still holding onto your ETH? Congratulations, you are now a member of the $2,000 club. That's right, Ether has once again broken the key psychological milestone of $2,000. This recent event extends Ethereum's weeks-long rally and has resulted in a 16% increase in market value over the past week.

Thanks to the latest surge, ETH is up over 2X from its June low. This is great news for those of us who were holding onto our Ether during the market crash caused by the 3AC drama.  Now we can all sit back and watch the price go up.

Of course, Ethereum isn't the only cryptocurrency benefiting from the market rebound. However, it is outperforming many assets due to the growing anticipation for the Merge. This long-awaited upgrade to Proof-of-Stake is finally happening soon and is being heralded as one of the biggest crypto events ever.

So whether you're an ETH holder or not, this is definitely a time to keep your eyes on the Ethereum price chart. Exciting times are ahead!

Well that's that, the final testnet has successfully completed its merge before Ethereum makes its big move to proof-of-stake.

The Goerli testnet has successfully completed its rehearsal for the big Ethereum mainnet Merge. This is a huge milestone for the project, and it's all thanks to the hard work of the team and the community.

What do you all think will follow now? ETH to the moon or exactly the opposite?

We were just wondering.

Do you think it is more profitable to mine at the current prices of BTC and electricity, or do you think it is more profitable to Stake in coins with a good APY ?

My story is maybe out of place here I am not a dinner but a staker with VEMP

Security researchers at Otter have finally found the root cause of the widely publicized Solana breach - sloppy devs at the Slope wallet app.

Slope hired a server from a company called Sentry, which stored users' seed phrases in readable text form. Since the phrases were not encrypted, anyone with access to this specific Sentry server could potentially access users' private keys and steal their funds.

If you're a former user of the Slope wallet, you're advised to transfer your funds out by creating other wallets with unique seed phrases.

According to Otter's analysis, it looks like hackers have stolen $4 million from the users.

Otter's report is a timely reminder to all crypto users - never entrust your seed phrase to a third-party wallet or service. If you want to keep your funds safe, always store your seed phrase in a secure, offline location.

What do you guys think ?

Also I am not sure this is the right category for this so I will appreciate it if you let me know if I must remove this post from here 

What do you guys think is the best altcoin to mine right now?
We usually prefer staking over mining especially VEMP with it's crazy APY

With the last SEC updates and the price hikes / inflation hikes / and interest hikes BTC seems to be like a save-fale for a lot of people - it is risky but the return possibilities are sky high so we guess a lot of people are transitioning in to DeFi instead of CeFi. The future is now so joining the Web3 Space is becoming more and more normal these days

ETH is soon to go to proof of stake so that will be [pretty interesting to see what happens after the transition - as ETH blockchain is getting more and more popular as it is easier to use maybe we will see a big transition of crypto users? We will have to wait and see a few more months we guess.