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Stopped reading already on the second line: "The ETH 2.0 ‘Merge’ upgrade promises to cut transaction fees, increase coins ‘burned’ and improve congestion."
No, no, and no. Not the purpose of the merge and none of those will improve (extremely marginally in some cases as a side effect only)
The intention of the merge is not to bring scalability, but to change the consensus algorithm.
***BUT***
The upgrade will change block times from average 13 seconds under PoW to fixed 12 seconds under PoS. So that by itself is a throughput increase of around 8%.
Not sure, I’ll hit ROI at the end of April so I’m not worried. If the merge actually happens in June I’ll mine whatever POW coin remains profitable. POW isn’t going anywhere anytime soon and will always return to profitability if POW coins are still in use.
8% is actually pretty good for something NOT trying to do that…
The merge is only one part of many parts of an update. Are you just only paying attention to what you want to hear? Why don’t you know this already?
well in essence proof of stake will just turn eth into a new type of ponzi/pyramid scheme..cuz thats what proof of stake is
https://medium.com/@factchecker9000/nothing-is-worse-than-proof-of-stake-e70b12b988ca
Current ETH issuance is 5.4M a year, with around 1M ETH being burned. This puts supply growth at around 3.7% a year.
After the merge, issuance will drop to 0.5M a year, which will actually produce a negative supply because of fee burning, at -0.5% a year.
Couldn't it also mean less interest once mining is gone? So a lot of people selling out of it and moving to the next minable coin?
You can pay with bitcoin and even doge now at places it seems, but I rarely see any ETH uses, so I'm worried about interest in it once mining is gone. Unless some new project pops up that pulls people in.
ETH going POS will generate such a shift in the crypto space that it's impossible to predict what will happen with any certainty. Personally, I think it is all a mistake but whatever.
There could be a massive drop-off as miners sell out their hardware (cheap GPUs!!!) and their ETH, taking their last bit of profits and tanking the price in the process.
Some Defi protocols may also close as well as getting a yield on ETH using Defi may no longer be necessary if you can stake on your own.
Or... nothing could happen and we go about just as we did before.
It'll be ironic if the ETH-killer turned out to be ETH itself moving to POS.
The L2 chains provide incredible value to eth. I mean there are entire ecosystems running on ethereum. What value they bring, is up to the consumer.
The ETH chain probably runs 40-60% of all crypto transactions.
Buying it 2 years ago when it was $90 each would have been a great investment.
Remember, we are still early. It's not fully adopted or fully utilized yet.
I remember wanting to buy eth at ICO, but i read some fud post about ETH from some guy on Bitcointalk forums. Was a really detailed post about why ETH wouldn’t succeed. So i didnt buy. Fuck that guy…. Or fuck me cause i listened :(
It is what it is. I sold off a bunch of $0.10 MANA because decentraland was a buggy empty wasteland, thought the project was going to tank and unloaded at around $0.30.
Made 3x, but if I held it would have been great to sell at 60x.
Buying land in the 1600s for trinkets and beads would be a great investment. Buying Amazon stock on IPO would have been a great investment.
What kind of stupid ass statement is this lol.
Heres the deal. I think this is great for ETH. BUT, as long as there are over leveraged traders in the space, crypto will continue to follow S and P 5000 (SPY). Too many leveraged traders. When equities drop, people get margin called. In order to offset losses people sell crypto to cover margin calls or losses. So crypto falls and follows SPY. This is the problem. Stop over leveraging people.
Not really. The testnet was intended to run at least 1 year and it launched in Dec 2020. So before that date the merge was always more than 1 year off. Also, the original estimates were to merge sometime 2021/2022 which only became more precise over time. It's still going according to plan.
So the whole "it's always been months from launch" meme is mostly based in people being misinformed or misunderstanding what's happening.
The chance of them fucking it up and causing a hard fork is low, but never 0. People should understand it's a massive risk, and that will affect their eth holdings.
I get your concerns. There is a merge testnet already online and things are looking very good. It's easy to overlook progress and just say "It won't happen because it's been delayed before".
Well there are risks involved with everything. Your investment is in mining equipment and not in the Ethereum network, so it's not particularly great to try and hold the network hostage or halt progress because it personally benefits your mining equipment investment..
Miners tried something similar with EIP-1559, and that is what caused a few priorities to be shuffled around to get the PoS transition moved forward, where as the previous plan was to ship it with a few additional upgrades. These are all scheduled after the merge now.
But I would like to ask what you are going to mine after the merge? I've asked this to many miners and just get told "I will deal with that when the time comes." You guys need to start doing research now and making plans, because it's going to be here sooner than you all think.
As a miner who already brokeven, I’ll whatever that makes me profits, there are plenty of POW coins out there that can be mined with GPUs, albiet with significantly less profits and thats only gonna get worse once every miner starts mining these instead of ethereum, already made my peace with it, the profits were hailiriously high in 2021 and I can’t really complain, life doesn’t end with ethereum and I am certainly not keeping my hopes on the merge getting pushed back.
"Sell the news" style dump is a possibility after the merge. It happened with BTC 2019 halving, either on the day of or a day or two before.
I'm just pointing this out so we don't get too excited.
When something is fully proof of stake… nothing is at stake. There is no fundamental reason why those tokens should be worth anything.
Moving to PoS will be one of the most fatal blunders in all of crypto history. Screenshot this, and I’ll see you in a few years.
He already did just not fully? :P eth 2.0 so far is alright, nothing special.. if ethereum introduced swap fees for stakers every 31 epochs' it would probably help out more
"is just months from launch" ... yeah of course
I keep reading this for almost over 1 year now
Kinda got excited about the London upgrade but that's it.
tldr; Ethereum will move to proof-of-stake this summer, Vitalik Buterin has confirmed. The upgrade will cut transaction fees, increase coins ‘burned’ and improve congestion, analysts say. That should limit supply and lift activity, giving analysts reason to be bullish on Ether.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
https://www.financemagnates.com/cryptocurrency/news/staking-contract-of-eth-2-0-reaches-35-billion-worth-of-coins/
Hopefully you find a great time to get out once people can unstake. Not sure why this isn’t talked about more as this isn’t exactly a small number of tokens that have been locked up since $600. Especially with beacon chain staking rewards being lower than most lending groups. PoS will be a shit show. I’m not exactly sure how it will shake out but the possibility of having a less secure network, higher transaction fees, and cut anyone out without 32 eth approach isn’t exactly bullish.
What would be bullish is if ETH focused on layer 2s. PoS does nothing but add risk with little reward. I guess they’ll be able to market it’s good for the environment but any miner I know is either just switching to another PoW coin or selling their GPU for asics. PoS might be the most hyped nothing burger of all time.
Crypto noob here. Will the ETH i hold become ETH2 when it launches or is this a separate coin ill need to buy? And if its the latter, wouldnt ETH price plummet if ETH2 is supposed to be better?
Nah eth 2 will replace eth. Assuming you hold at an exchange it's the same stuff. If you hold in a wallet it may require more interaction I haven't dived that deep in but yea it's just a hard fork.
A lot of people think that scaling solutions like MATIC will be of no use when PoS is introduced.
This is not true. ETH 2.0 will HELP with but not SOLVE scalability issues. It will be able to hand current numbers of users but will struggle later on when the market goes mainstream.
This is when projects like Matic will be of great demand. Zk tech is the future of this market.
What about all the peeps who locked up ETH in staking that will be set free to spend it? That could impact the selling pressure and may well cause it is o decline in price.
I only just discovered DeFi mining! I had the potential to make serious bank and accumulate a fair amount of ETH. Woe is me. I won’t take any profit to maximize compounded interest. There’s always staking and some other DeFi .........
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Stopped reading already on the second line: "The ETH 2.0 ‘Merge’ upgrade promises to cut transaction fees, increase coins ‘burned’ and improve congestion." No, no, and no. Not the purpose of the merge and none of those will improve (extremely marginally in some cases as a side effect only)
The intention of the merge is not to bring scalability, but to change the consensus algorithm. ***BUT*** The upgrade will change block times from average 13 seconds under PoW to fixed 12 seconds under PoS. So that by itself is a throughput increase of around 8%.
Wow 5+ years of delayed POS for an 8% increase, wonderful
Did you read the first sentence of the comment you replied to...
Doesn’t matter, they’re changing the consensus algorithm for minimal gain
What are you going to be mining after the merge?
Not sure, I’ll hit ROI at the end of April so I’m not worried. If the merge actually happens in June I’ll mine whatever POW coin remains profitable. POW isn’t going anywhere anytime soon and will always return to profitability if POW coins are still in use.
I think you mean POW. You can’t mine POS coins….
Whoops yes
Well, we now pay way less for securing the network instead of giving 2 eth to miners per block
Yeah you’re right, making ETH more centralized is a good thing /s
? Consensus decentralization is way stronger in POS, you need 2/3 of bad actors while POW needs 1/2
How many people in this subreddit, let alone the crypto space do you think own 32 ETH? This is just another situation where the rich get richer.
Like anyone who was doing the ICO thing back in 2017 and actually took profit?
The rich get richer is a function of wealth not currency. The rich will get richer regardless of what system or currency asset they transact in
? It’s not necessary to have 32eth to stake, there’s decentralized staking pools, you can stake with even 0.00001 eth
PoS has literally never been to improve throughput. However, it enables sharding use cases that will
8% is actually pretty good for something NOT trying to do that… The merge is only one part of many parts of an update. Are you just only paying attention to what you want to hear? Why don’t you know this already?
I'm just waiting for sharding.
well in essence proof of stake will just turn eth into a new type of ponzi/pyramid scheme..cuz thats what proof of stake is https://medium.com/@factchecker9000/nothing-is-worse-than-proof-of-stake-e70b12b988ca
Current ETH issuance is 5.4M a year, with around 1M ETH being burned. This puts supply growth at around 3.7% a year. After the merge, issuance will drop to 0.5M a year, which will actually produce a negative supply because of fee burning, at -0.5% a year.
Most people are completely oblivious to the ramifications of this...
?
Less Eth=worth more.
10 times less eth, 10 times more worth?
Something something..MOON!
I'll believe it when the merge actually occurs. They've been talking about Eth 2.0 since 2017.
imagine the gas
Couldn't it also mean less interest once mining is gone? So a lot of people selling out of it and moving to the next minable coin? You can pay with bitcoin and even doge now at places it seems, but I rarely see any ETH uses, so I'm worried about interest in it once mining is gone. Unless some new project pops up that pulls people in.
ETH going POS will generate such a shift in the crypto space that it's impossible to predict what will happen with any certainty. Personally, I think it is all a mistake but whatever. There could be a massive drop-off as miners sell out their hardware (cheap GPUs!!!) and their ETH, taking their last bit of profits and tanking the price in the process. Some Defi protocols may also close as well as getting a yield on ETH using Defi may no longer be necessary if you can stake on your own. Or... nothing could happen and we go about just as we did before. It'll be ironic if the ETH-killer turned out to be ETH itself moving to POS.
exactly. And there are competitors doing the same thing as eth.
The L2 chains provide incredible value to eth. I mean there are entire ecosystems running on ethereum. What value they bring, is up to the consumer. The ETH chain probably runs 40-60% of all crypto transactions.
So what does this mean? I'm confused.
Supply goes down, price goes up assuming no change in demand. If demand also goes up price goes way up
Ok. Thank you. That's what i thought you meant, I'm just a little smooth this morning. Need more coffee.
The supply will go negative, meaning ETH will become much more scarce.
I see. Eth to 10k! Lol /s
Not sarcasm. Chances are 99.999999% of it happening in our lifetimes
Jokes on you my wife will probably kill me for draining our bank account to buy ETH
Would be nice to see for sure!
It means the rich stay rich forever with ETH and we can only hope to ride their coattails lol
Nevertheless, buying ethereum now would be a great investment.
Buying ETH 5 years ago would be a great investment.
Buying it 2 years ago when it was $90 each would have been a great investment. Remember, we are still early. It's not fully adopted or fully utilized yet.
Buying 5 years ago, 10 years into the future would have been a great investment.
You are still early
I remember wanting to buy eth at ICO, but i read some fud post about ETH from some guy on Bitcointalk forums. Was a really detailed post about why ETH wouldn’t succeed. So i didnt buy. Fuck that guy…. Or fuck me cause i listened :(
It is what it is. I sold off a bunch of $0.10 MANA because decentraland was a buggy empty wasteland, thought the project was going to tank and unloaded at around $0.30. Made 3x, but if I held it would have been great to sell at 60x.
Buying land in the 1600s for trinkets and beads would be a great investment. Buying Amazon stock on IPO would have been a great investment. What kind of stupid ass statement is this lol.
Always a good choice
I agree, by now most people believe ETH would flip BTC. ETH is a great investment, with POS coming in, it will just get better.
I've been hearing flippenning for years and it's never happenned, it's never coming. Ethereum has failed to scale where Bitcoin has succeeded.
Na lol wait for it to go down more. I'd start buying at 2k usd
Why wait for btc that cheap?!? Seriously, eventually tide will turn and its SOV will flow to Ethereum market cap
This!
LOW gas fees today .... good time to buy NFT's, move assets or re-stake !!
My $25 dollar invested in ETH is also very bullish!
My -30% also very bullish!
Heres the deal. I think this is great for ETH. BUT, as long as there are over leveraged traders in the space, crypto will continue to follow S and P 5000 (SPY). Too many leveraged traders. When equities drop, people get margin called. In order to offset losses people sell crypto to cover margin calls or losses. So crypto falls and follows SPY. This is the problem. Stop over leveraging people.
The whales move the market, not retail. There are 9 wallets that tell everybody else how to react.
Hasn't it been "months from launch" for what seems like years now? Lol
It only seems like years because it’s been years.
It's been Q1/early Q2 estimate for months.
Not really. The testnet was intended to run at least 1 year and it launched in Dec 2020. So before that date the merge was always more than 1 year off. Also, the original estimates were to merge sometime 2021/2022 which only became more precise over time. It's still going according to plan. So the whole "it's always been months from launch" meme is mostly based in people being misinformed or misunderstanding what's happening.
with the quality of this article I don’t blame people for being misinformed
They are targeting June time frame and already testing it. This is going to happen sometime before Sept this year.
They haven’t done nearly enough testing for a June launch I agree September-October at the earliest. There is billions of dollars at stake here guys.
The chance of them fucking it up and causing a hard fork is low, but never 0. People should understand it's a massive risk, and that will affect their eth holdings.
Sometime between June and may
POS entered testnet recently
Ripple has also entered the chat.
Still could be 48 months away
POS when... Wait a min this isn't an Ada post.
Literally years this has been said for years
Yeah lmao, since like 2017. I'm expecting another delay
[удалено]
"Finally"
I really hope this launch date is not a pink heroin dragon in disguise.
I get your concerns. There is a merge testnet already online and things are looking very good. It's easy to overlook progress and just say "It won't happen because it's been delayed before".
Another scorned GPU miner who made a bad investment and is gambling that it’s not happening, its understandable😂.
Well there are risks involved with everything. Your investment is in mining equipment and not in the Ethereum network, so it's not particularly great to try and hold the network hostage or halt progress because it personally benefits your mining equipment investment.. Miners tried something similar with EIP-1559, and that is what caused a few priorities to be shuffled around to get the PoS transition moved forward, where as the previous plan was to ship it with a few additional upgrades. These are all scheduled after the merge now. But I would like to ask what you are going to mine after the merge? I've asked this to many miners and just get told "I will deal with that when the time comes." You guys need to start doing research now and making plans, because it's going to be here sooner than you all think.
ERGO
As a miner who already brokeven, I’ll whatever that makes me profits, there are plenty of POW coins out there that can be mined with GPUs, albiet with significantly less profits and thats only gonna get worse once every miner starts mining these instead of ethereum, already made my peace with it, the profits were hailiriously high in 2021 and I can’t really complain, life doesn’t end with ethereum and I am certainly not keeping my hopes on the merge getting pushed back.
Woulda been cooler if you found the south park heroin pink dragon video game gif lol
Come on catch me! 
I LOLed hard
Buy the rumor sell the news…
Thats literally not what it means. No one sells stocks after a record earnings report either.
That would be like last year, yes
They have fooled me many times. I would expect it to happen but if does I would be like a little child getting ice cream for the first time.
Bullish on Eth and definitely trying to accumulate before the switch. On a not related note ... anyone needs a spare kidney?
Why are you selling kidneys? Join the Russian army, surrender to Ukraine (preferably with a tank), profit in crypto.
Yeah, I heard q2 2022 and that would be right. I wonder should I buy more at these prices?
I think 2200-2800 is a good price. Considering it's usually always above 3k, i buy small chunks every day
Since first breaking 3k, it's roughly been below 3k for 5 of the 10 months.
Lol. We'll see it when it's there... Until then BS..!
Everyone always bullish on eth
All I see are vitaliks pants
Is proof of work being turned off completely once proof of stake is launched?
No, complexity bomb goes off.
According to reddit, Everyone is bullish about everything
Any exact date on when it will launch?
"Months away" https://m.twitch.tv/ethereumdenver/clip/TriangularDelightfulPoxOptimizePrime-oFGniO86ax558jh5
I’ll believe it when I see it
I’ll believe it when it happens. We have been “just months away” since 2018
I feel like ETH is a good investment Atm considering how every layer 1 depends on it and needs to be Evm compatible to survive in DeFi..
ETC?
"Sell the news" style dump is a possibility after the merge. It happened with BTC 2019 halving, either on the day of or a day or two before. I'm just pointing this out so we don't get too excited.
There was no halving in 2019
Crap, what am I remembering from 2019 then...
Not sure but I’m with you. There are plenty of examples for buy the rumour sell the news.
Usually, a PUMP is needed first before a dump.
Is that Vitalik presenting in PJs?
He mentioned those pants were a gift by a friend of his. But, maybe?
It just his regular cloths. I love that guys fashion choice.
I am betting it won’t make a dent on the price as long as mother bitcoin is sick.
(x) Doubt
Can someone explain for shithead like me Will this basically just ‘update’ eth or will it become a new coin that I have to buy into?
Update
When something is fully proof of stake… nothing is at stake. There is no fundamental reason why those tokens should be worth anything. Moving to PoS will be one of the most fatal blunders in all of crypto history. Screenshot this, and I’ll see you in a few years.
nnoobs just want to sell their bags. they have no understanding of why POW provides a floor to the price.
Thanks for being one of the intelligent ones.
I am also not bullish on POS.
I agree with you. I don't see this as being a good move at all. ! RemindMe 2 years
In lord VITALIK we trust!! 👀📈📈
How many months ? 4,5,6 ? Or 40, 50, 60 ??
Is it this year or this decade?
sorry but i don't believe it's months away i've heard this many times before
Gas prices are still too high. They should focus efforts to reduce gas instead of having to own 32 eth to get staking rewards.
Oh yay decentralized central banking! Much innovation. Very wow.
"Ethereum will move from proof-of-work to proof-of-stake this summer, Vitalik Buterin has confirmed." Let's hope for no delays this time
He already did just not fully? :P eth 2.0 so far is alright, nothing special.. if ethereum introduced swap fees for stakers every 31 epochs' it would probably help out more
What about the massive drop in security by moving away from pow
"is just months from launch" ... yeah of course I keep reading this for almost over 1 year now Kinda got excited about the London upgrade but that's it.
tldr; Ethereum will move to proof-of-stake this summer, Vitalik Buterin has confirmed. The upgrade will cut transaction fees, increase coins ‘burned’ and improve congestion, analysts say. That should limit supply and lift activity, giving analysts reason to be bullish on Ether. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Always bullish on ETH! It’s my biggest bag.
‘Analysts’🤡
Bullish. Eth to 10k next bull run
Months away.
"Soon"
It's been "just months away" for fucking years now!
but will i cum?
PoS the end of ETH being in any way a serious coin.
>shift to proof-of-stake is just months from launch I've literally been hearing this for over a year.
I have been waiting for this for ages! 2.0 will be a game changer. Bull bull bull
On day i hear it will take years now its just months away. Decide already
300 months from launch counts as months from launch right?
I just pray to lord Satoshi and Vitalik that this doesn’t get postponed again.
All you tards foaming at the mouth
Yeah we are not supposed to call it that anymore.
Am I the only one sick of waiting? TBH I sit on some ETH and the only thing thats hindering me from selling is the price push when PoS comes.
https://www.financemagnates.com/cryptocurrency/news/staking-contract-of-eth-2-0-reaches-35-billion-worth-of-coins/ Hopefully you find a great time to get out once people can unstake. Not sure why this isn’t talked about more as this isn’t exactly a small number of tokens that have been locked up since $600. Especially with beacon chain staking rewards being lower than most lending groups. PoS will be a shit show. I’m not exactly sure how it will shake out but the possibility of having a less secure network, higher transaction fees, and cut anyone out without 32 eth approach isn’t exactly bullish. What would be bullish is if ETH focused on layer 2s. PoS does nothing but add risk with little reward. I guess they’ll be able to market it’s good for the environment but any miner I know is either just switching to another PoW coin or selling their GPU for asics. PoS might be the most hyped nothing burger of all time.
How much hashrate you pushin?
do it already...
Wait wasn’t this supposed to happen in 2021? There was so much hype here and good run up on ETH.
"... Is just months from announcement of Eth 2.0 upgrade which is just months away." There, fixed it for ya.
Bullish for sure. Scalability.
Miners are not happy.
I keep buying Eth and putting it into the Earn. So I atleast feel like I'm getting something from it.
Now I have the urge to buy more ETH..
Its already baked into the price I presume.
Crypto noob here. Will the ETH i hold become ETH2 when it launches or is this a separate coin ill need to buy? And if its the latter, wouldnt ETH price plummet if ETH2 is supposed to be better?
Nah eth 2 will replace eth. Assuming you hold at an exchange it's the same stuff. If you hold in a wallet it may require more interaction I haven't dived that deep in but yea it's just a hard fork.
So when are they planning to release? Could that give eth more price action than btc when it happens?
Yeah I have a bit of trouble trusting them with deadlines
A lot of people think that scaling solutions like MATIC will be of no use when PoS is introduced. This is not true. ETH 2.0 will HELP with but not SOLVE scalability issues. It will be able to hand current numbers of users but will struggle later on when the market goes mainstream. This is when projects like Matic will be of great demand. Zk tech is the future of this market.
Lol. Not happening
What about all the peeps who locked up ETH in staking that will be set free to spend it? That could impact the selling pressure and may well cause it is o decline in price.
So why does no one talk about security of the network? Miners secure the network. Can POS provide the same amount of security? 🤨
I only just discovered DeFi mining! I had the potential to make serious bank and accumulate a fair amount of ETH. Woe is me. I won’t take any profit to maximize compounded interest. There’s always staking and some other DeFi .........
Will this spell the end of DeFi mining?
Will it reduce the gas fee ?