ETC nothing much since massive declines… I think that it may need to go on margin in order to go up, where the short sellers get their accounts liquidated.
Will the ETH going PoS influence mining of ETC and its price, what do you think?
With ETH PoS then all the miners will switch to ETC and puuuummmppp!
I believe that also with ETH going PoS the miners will look for other profitable GPU mineable coins such as Safex Cash.
We will need this to strengthen the network.
When is ethereum going to pos?
I’m sure that the constant increase in mining block rewards will ever increasingly entice new miners to join the network.
@noircap1 It depends on when the Ethereum Development Team completes their Caspar Protocol. Luckily since block rewards increase as time passes, then these guys who are mining Ethereum today will get a windfall on transitioning to Safex Cash Mining.
An excerpt from the Blue Paper shows the Block Reward from Mining Safex Cash. Over time the Block Reward increases until the 7th year before the Block Reward decreases.
I have a very silly question : but why is it a good thing if there are many miners on safex network ? why it would pump safex ?
What year of AD we’re now?
The more people mining the more electricity people are spending overall; such people need to recover costs of rigs, rent, and power. This sets a minimum price accepted by a consistent participant in the market: the miner.
The more people mining the more rigs you need to stay competitive the higher the overall cost, the bigger price you will demand for the Safex Cash.
Then on the more philosophical point. If we dont have enough diverse mining, then we become susceptible to a 51% attack.
It’s good for any network to have as many miners as possible to prevent 51% attack
ETH will release hybrid version first, with mixed POW and POS. They will implement the difficulty time bomb which will increase the mining difficulty exponentially until the chain becomes impossible to mine, and enter a so called ETH Ice Age. No fixed date yet, but hybrid version should happen in 2018. The transition to full PoW will be slow, but miners may already want to start looking for more profitable coins to mine, such as Safex Cash.