[Kill Joy]

POS should also inflate the value of ETH even higher.
This will be interesting

hq thrad

This thread will interest you: https://www.reddit.com/r/ethereum/commen...pply_over/

Top comment is from Buterin.

So here is a thought. Currently, because of the PoW ice age, the block time is scheduled to start increasing in mid-2017, and past around 2019 the increase is going to grow exponentially. The mining reward does NOT increase proportionately. Hence, there is already an exponential slowdown in the growth of the ETH supply built into the protocol; my script shows:
Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19
Hence, in the foreseeable future, the supply will not go far above 100 million.
PoS is likely to lead to quite low issuance rates; I am not comfortable promising zero, but if it is not much less than the current PoW then there is little point in making the switch in any case. If the community wishes to, while PoW is in play, it's possible to agree that any delay to the ice age bomb should also respect this general ETH supply growth curve, so in a situation where at time X if current ethereum would have a 75s block time, the ice age patch would set the block time to 15s and the block reward to 1 ETH (and adjust uncle/nephew rewards proportionately).
That said, issuance is a key economic parameter and I personally don't feel I or the foundation or client developers have the authority to dictate this; perhaps it's worth some kind of vote.

[Mircale]

Great info man , Thanks for sharing.

[Giga]

Another HQ contribution. Great read with a lot of useful information. Thanks again Kill Joy.

[CBHF]

Would you recommend not to buy any mining hardware at this point in time? Very good article 10/10. I'm not necessarily sure how I feel about PoS yet as I have seen it on Stratis previously, can't hurt to give it a try!

[Αdvertisement]

Would you recommend not to buy any mining hardware at this point in time? Very good article 10/10. I'm not necessarily sure how I feel about PoS yet as I have seen it on Stratis previously, can't hurt to give it a try!

There will always be coins to mine.

[Kill Joy]

Would you recommend not to buy any mining hardware at this point in time? Very good article 10/10. I'm not necessarily sure how I feel about PoS yet as I have seen it on Stratis previously, can't hurt to give it a try!

You still have time to mine Ethereum and make a good profit on it. Like Advertisement said, there will always be other coins to mine that will make a good profit.

[IPIKIN]

So if they use both POW and POS for the beginning, will we still be able to mine ETH?

[Kill Joy]

So if they use both POW and POS for the beginning, will we still be able to mine ETH?

From what I remember reading in the blog posts from Buterin, he wants to use PoS as a checkpoint every 100 blocks. I would imagine hardware mining will still be a thing. Coins that use PoS and have a PoW checkpoint at x amount of blocks don't reward anything to the miner, rendering mining pretty much useless.

It all depends on what they decide to implement.

[IPIKIN]

From what I remember reading in the blog posts from Buterin, he wants to use PoS as a checkpoint every 100 blocks. I would imagine hardware mining will still be a thing. Coins that use PoS and have a PoW checkpoint at x amount of blocks don't reward anything to the miner, rendering mining pretty much useless.

It all depends on what they decide to implement.

Interesting times ahead to say the least.

Even if mining ETH becomes obsolete at least there are other coins to mine with a pretty good income.

[Mr. WAVES]

Very useful read! Thanks a lot for the info!

[Watch the Throne]

Been reading up almost nonstop for the past few weeks about this coin or that coin. Invested in ETH back in November '16, so my $500 investment was WELL worth it. I'm curious what will happen to the current coins that are sitting in wallets. Are they just going to stay there, able to be traded and moved around for whatever purpose one might have?

I understand the general hope that this change will improve the speed and scalability - which were two things that definitely needed to be solved. It will impact mining, but I'm not concerned with that. Long term I'm wondering if they are hoping to do something to combat the increased prices ETH. If not, contracts that were supposed to be cheap to process will be quite expensive. Unless I'm way off base here.

[VirtualMon3y]

Very informative thread. Nice to have you back contributing with quality like this.

[FaberCastell]

What if miners continue to mine the old chain?

I've heard somewhere that the difficulty is supposed to increase so the mining will not be worth it anymore, thus the network not being secure anymore. But is it true? Can they continue to mine the old chain and we get a new coin ETHpow?

[Gizmo]

Damn Kill Joy, you got a lot of knowledge regarding blockchain. I like it. Please keep sharing useful information like this with us!

I also enjoy it how you answer each question on this thread. Thanks 🙂

[ubbelol]

When you say only 250 validators, does that mean only 250 are eligible to gain ETH on what they stake?

I'd imagine some of those 250 will create pools similar to mining pools where you lock up your ETH in a smart contract and receive a fair share of the total staking reward.