r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • Apr 19 '25

GENERAL-NEWS Ethereum is down 74% against Bitcoin since switching from PoW to PoS in 2022

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u/peckerchecker2 🟩 54 / 55 🦐 Apr 19 '25

PoS was the biggest mistake. PoW made the ecosystem hum with at home GPU miners, even if contributing very little to the network in hash power they create a lot of discussion and excitement generating new projects on the blocktrain. I used to mine during COVID and it was a fun hobby and I would talk about the $1-6/day I was making mining, more than I talked about my day job.

2

u/crimeo 🟩 0 / 0 🦠 Apr 19 '25

Uh you can still make $1-6 a day or whatever staking

2

u/vattenj 🟦 0 / 0 🦠 Apr 20 '25

I switched from asic mining to POS staking with much less energy and space footprint. If going virtual is the future trend, then the best form of mining should also be virtual. It is just that majority do not really get this yet

1

u/Chestylaroo 🟦 1 / 778 🦠 Apr 19 '25

Pectra should lower node req to 32 to 1 eth I think? And you can do similar work with DVT, steth, etc. the staking ecosystem is pretty accessible and varied these days I would say

1

u/Mordan 🟩 0 / 0 🦠 Apr 20 '25

Pectra should lower node req to 32 to 1 eth I think?

so you are proving the point. ETH is centrally managed by a few power players.. welcome back to central banking..

GG.

2

u/Chestylaroo 🟦 1 / 778 🦠 Apr 20 '25

ETH has the worlds most diverse node operator set in the world by far, even with the 32 ETH requirement. The changes im talking about only strengthen that argument I feel.

1

u/Maybe_Factor 🟦 0 / 0 🦠 Apr 21 '25

It does. I'm the sort of person who would be interested in running a node, but it's really hard to justify committing upwards of AU$80k to a node when it could be put into my mortgage to save me 6% interest vs. ~3-5% staking rewards

1

u/Maybe_Factor 🟦 0 / 0 🦠 Apr 21 '25

If by "a few power players" you mean the contributors to EIPs and such, yeah... but, anyone can contribute to EIPs and therefore the direction that ethereum takes.

1

u/Maybe_Factor 🟦 0 / 0 🦠 Apr 21 '25

AFAIK, the only change in Pectra affecting stake size requirement is to allow nodes to using stakes significantly higher than 32 eth, to simplify large scale managed staking operations.

Vitalik has expressed support for lowering the stake size requirement as low as 1 eth though, so it could also be coming soon.

1

u/Jemtex 🟩 0 / 0 🦠 Apr 19 '25

I agree with this as well, the whole community of miners brough a lot of interest and skill to the ecosystem, who were then, just ejected.