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re: Official CryptoTalk Thread
Posted on 5/2/22 at 10:39 am to CarRamrod
Posted on 5/2/22 at 10:39 am to CarRamrod
I don't really follow that logic. Staking APR for ETH PoS validators post-merge is estimated to be 10-15%. There's a strong financial incentive still. Most ETH node operators make tons of money through MEV and arbitrage, not from block issuance. They will still be able to do that post-merge, as well.
PoW to PoS change has been in the cards since inception. They wanted to start with PoS but the details weren't well enough hashed out/established to make PoS realistic at the time. Vitalik severely underestimated the engineering power it takes to do the transition.
PoW to PoS change has been in the cards since inception. They wanted to start with PoS but the details weren't well enough hashed out/established to make PoS realistic at the time. Vitalik severely underestimated the engineering power it takes to do the transition.
1
Posted on 5/2/22 at 12:25 pm to Hulkklogan
quote:so you seriously think that within the last 6 years, and getting 50% done...a quote directly from Vitalik..... That it's taking them so long because they just care that much?
I don't really follow that logic.
Ok.....
This post was edited on 5/2/22 at 12:26 pm
Posted on 5/2/22 at 12:29 pm to CarRamrod
I think he means it is much more difficult than people realized.
I mean, ETH could have forked like BNB a long time ago. Its not like what BNB did was some gigantic secret. Fees on BNB are nothing. However, there is much more to what ETH is trying to do.
Not saying I agree with it all, but that is my perspective.
I mean, ETH could have forked like BNB a long time ago. Its not like what BNB did was some gigantic secret. Fees on BNB are nothing. However, there is much more to what ETH is trying to do.
Not saying I agree with it all, but that is my perspective.
Posted on 5/2/22 at 12:35 pm to JayDeerTay84
quote:RH heart did it in less than 2.
I think he means it is much more difficult than people realized.
Posted on 5/2/22 at 12:39 pm to CarRamrod
It's a huge engineering feat, and if they frick it up there are hundreds of billions of $ at stake. They have to go slow and test thoroughly.
What monetary incentives they have to stick with PoW over PoS?
What monetary incentives they have to stick with PoW over PoS?
Posted on 5/2/22 at 12:41 pm to Hulkklogan
quote:you tell me... its been 6 years since they started "work" on it and they have only gotten maybe half way done.
What monetary incentives they have to stick with PoW over PoS?
Posted on 5/2/22 at 12:46 pm to CarRamrod
I'm not the one levying such an accusation, and I've offered a reason why there likely is not a monetary incentive.
Its also way closer than 50% to the merge. You're confusing Vitalik saying they're 50% to ETH2.0, which would be the entire remaining roadmap, with the merge.
Its also way closer than 50% to the merge. You're confusing Vitalik saying they're 50% to ETH2.0, which would be the entire remaining roadmap, with the merge.
Posted on 5/2/22 at 12:47 pm to CarRamrod
quote:
RH heart did it in less than 2.
Look, I am not shilling ETH. I only mine it and convert to other chains, but come on. Its not that simple.
Pulse benefits from being able to start a new chain. It is multiples harder to take an existing chain (with billions and billions running) and convert it to a completely new system live while keeping the core integrity.
There are plenty things wrong with ETH and plenty things Pulse aims to fix, but at least keep it honest in the comparisons.
This post was edited on 5/2/22 at 12:49 pm
Posted on 5/2/22 at 12:48 pm to Hulkklogan
Posted on 5/2/22 at 12:51 pm to acesfull18
quote:
they are making boatloads of money mining and running ethereum network
Ding! Ding! Ding!
We have a winner!
Posted on 5/2/22 at 12:54 pm to Hulkklogan
quote:it's funny you claim it is an accusation. It is fact. I didn't think anyone didn't know this.
I'm not the one levying such an accusation,
Posted on 5/2/22 at 12:55 pm to JayDeerTay84
quote:start a new chain? It literally is a full system state fork of eth. While eth is live....this is how developers make edits to the chain....they do the edits, test on the test net, then implements on the real chain. I don't see how it is any different.
Pulse benefits from being able to start a new chain
This post was edited on 5/2/22 at 12:57 pm
Posted on 5/2/22 at 12:59 pm to CarRamrod
quote:
I don't see how it is any different.
Except for the massive amount of liquidity that doesn't magically appear...
Thats kinda the point.
As you guys said, all the ERC20's get copied over, but..... Price discovery needs to happen.
Again, I am not shilling ETH, but its much different to do what Pulse is doing and building "new" liquidity as opposed to switching from POW to POS LIVE with not ruining the entire chain.
I am not being confrontational here but its much much different.
Posted on 5/2/22 at 1:00 pm to acesfull18
EIP-1559 already slashed how much miners make.
And again, validators will still make good money. The merge isn't reducing gas fees. That total transaction fees, not average fees per miner.
And again, validators will still make good money. The merge isn't reducing gas fees. That total transaction fees, not average fees per miner.
Posted on 5/2/22 at 1:02 pm to JayDeerTay84
quote:that's true....but the process is still the same. I don't see how you just say...ohh this is different.
Except for the massive amount of liquidity that doesn't magically appear...
Thats kinda the point.
As you guys said, all the ERC20's get copied over, but..... Price discovery needs to happen.
Posted on 5/2/22 at 1:02 pm to CarRamrod
Okay, you levied a claim and then refuse to back it up.
Posted on 5/2/22 at 1:05 pm to CarRamrod
I know you're in tech. I'm not sure how much experience you've had with networks or software upgrades, but there's a world of pressure operating in a live, huge environment vs starting a new one with much lower subscriber count.
Pulse could be buggy as all frick once it goes live, and, the majority of crypto would point and laugh and move on, and some big bag holders would be mad. If post-merge Ethereum is bugged out, that's changing the entire landscape of crypto.
The pressure to perform is not close.
Pulse could be buggy as all frick once it goes live, and, the majority of crypto would point and laugh and move on, and some big bag holders would be mad. If post-merge Ethereum is bugged out, that's changing the entire landscape of crypto.
The pressure to perform is not close.
This post was edited on 5/2/22 at 1:06 pm
Posted on 5/2/22 at 1:07 pm to Hulkklogan
In the meantime, I just purchased a new 3090 ti rig. They run cooler than the 3090s and have higher hashrate on ETH that I convert to BTC.
Posted on 5/2/22 at 1:08 pm to Hulkklogan
quote:I actually am not. Just a hobby.
I know you're in
quote:not much, and I understand this.
I'm not sure how much experience you've had with networks or software upgrades, but there's a world of pressure operating in a live, huge environment vs starting a new one with much lower subscriber count.
quote:do you know what a test net is? I mean I know you do. But that's exactly what it is for. Pulses test net has been running for months. Along side Ropsten.
Pulse could be buggy as all frick once it goes live
And look pulse saccers understand how hard software development is. That sacced money expecting pulse to be live a few months later. Well we are approaching a year now. But to say it is taking them 6 years because they care that much, is disingenuous.
This post was edited on 5/2/22 at 1:12 pm
Posted on 5/2/22 at 1:09 pm to Jjdoc
How much you pay? I'm still running the super power hungry 1080tis. 
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