How do miners profit post-PoS, if at all, how will fresh miners get their embark, and who will execute the EVM byte code (and why)? Ethereum Stack Exchange

EDIT: This reaction is a bit old. Now wij know much more about PoS and validation details, but don’t hesitate to ask fresh questions on a fresh thread.

Also, meantime Golem Network appeared and is a pretty way to recycle GPUs power (see the end of my reaction where I express fear about GPU recycling). GPUs would then be used for what they were built for: rendering and massive calculation. Many other projects may emerge and I’m glad that my prediction about people being creative were true ,)

TL,DR: I may look pessimistic about POS but there is a ample chance that people creativity makes something good of it. However there will be a hefty amount of GPU to recycle, so wij have to find a solution now.

Now the long talk. Spil I can see it, POS transition wasgoed primarily embarked to lower the ethereum network power consumption and be more ecological. But the drawback is that tons of GPU will be left worthless (even if there is still some POW coins out there, but come on, mining LiteCoin to convert it to ether?) and trashed if not sold. I indeed mean tons. Truly ecological? One may do the math but I don’t have the figures to waterput ter the formula. Also POW mining looks to be a more accessible, decentralized and incentive way to be part of a network you care about. Will you be indeed a part of something ruled by a bunch of big firms that hold ( or hodl) a lotsbestemming of ether? I think this is the opposite of what ethereum wasgoed build for very first. But, answering your questions:

1- spil I understood it, what wij call miners today will be validators. They will exist ter limited number spil POS is described for now but this may switch. So not every people having a knot will be rewarded. Only a few big corporations with a lotsbestemming of stake to participate ter POS will be able to be rewarded. The more you have, the more you build up. All our equipments will be worthless even for being recycled into POS servers spil the need is truly different and don’t expect to build a high availability powerful server on an Asus btc motherboard. So except if you want to mine some other coins or sell your equipment, this is good to trash. (Note that selling equipments and GPU will be almost unlikely when POS will be there due to the gigantic gpu suggesting opposed to the little request spil none will want POW hardware anymore)

2- fresh miners will have some way to get ether. Very first one is to buy some at an exchange using fiat currency. This is how most of non miners do today and this is how I stared before being a mining maniac :D. They will also be able to switch other coins like BTC or LTC they already have into Ether using an exchange or the now famous and beautiful ShapeShift (I love you guys even if all this hack thing is not entirely clear to mij. But this is another thread subject). Note that if a miner don’t want to use fiat currency at all, he can mine LTC for example and then switch it to ether. But this is not indeed efficient, I admit. There’s some other way tho’. Some can sell goods or services for ether. I already eyed a youthful designer suggesting logo creation on Reddit for ether. Gamblers will also be able to win some ether by playing online games like poker. Even if they’ll have to waterput some at very first, they will be able to win or liberate a lotsbestemming. Eventually (but not so ultimately spil I may have not thought about anything), you could be rewarded ter ether by watching ads or solving captchas for hackers, this is called faucets and I hope it will be eradicated.

3- mining, or may I write validating, will be the only way to create ether from void. So te order to keep the network ether creation rate, POS will have to be attractive. This will be done by providing a few people the capability to invest ether at a truly good prize rate (most classical investment te old world won’t be able to challenge with POS rates). The more they stake, the more they get. Spil werkonderbreking ether will lock it for some times, it will most likely be people who possesses a lotsbestemming or people who don’t want to use it (Holders). But people who have just some ether and use it won’t be part of it even if the network works because of them and they create the ether value by using it and using Dapps and contracts. But they are den facto excluded form the prize. So yes, you will be able to stake and hold and use it if you have enough ether.

4- spil I understood it, validators with their large servers will process all. Utter knots that some people will run will only validate blocks integrity but won’t run any EVM code or create fresh blocks. This is what happens today with utter knots te POW. Only mining knots run the network. I don’t know how light knots will play te this spel. They may only have a read and write access but no integrity validating power at all. Read the light protocol paper for more details.

5- computing power will still be redeemable but not spil it is today. GPU power will be almost zero value. But computing power on super servers or on big arrays, grids clusters will be very valuable.

Now the optimistic point:

By that I mean that what would be a more available laptop than some standard computers joining together to make a big one always on? This may be the future POS pools. People will join their CPU power using some networked clustering contraption and each one will stake some ether ter a common wallet contract or some forms of DAO. They will then apply to become a validator spil one could be and they will be represented by the contract. The contract will receive prizes and distribute it proportionally to the computing power delivered and by the staked amount of each people spil it’s done te pools with hashrate.

This is the best script I see to avoid power centralisation of the ethereum network.

Related movie: How to build a scrypt/ethereum mining equipment framework


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