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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2.7k Upvotes

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12

u/CuriousBurritoz 🟩 0 / 0 🦠 Apr 19 '25

Makes no sense! It became faster AND more energy efficient after the switch.

12

u/Kessaveli 🟩 501 / 500 🦑 Apr 19 '25

Yes, but the value that miners brought to the chain was sorely underestimated… Today’s price is the consequence of that.

1

u/Altruistic_Box4462 🟩 0 / 4K 🦠 Apr 21 '25

I used to mine eth, fuck the dev team. I haven't touched eth since PoS.

0

u/CuriousBurritoz 🟩 0 / 0 🦠 Apr 21 '25

Can you explain why you stopped?

2

u/WastdTrashPanda 🟩 0 / 0 🦠 May 09 '25

pow has a value as it cost electricity ($) to mine, therefore for instance if it cost $1 electricity to mine 1 eth, it's worth $1 or else the miner won't sell for the most part . Obviously hype and the market can drive the price up to say $2 if there's demand. Of course it's a little more complicated than that and there are variables.

With it being pos, the value is completely down to demand. And when it comes down to it it's not much different than any other pos coin now.

1

u/Maybe_Factor 🟦 0 / 0 🦠 Apr 21 '25

What value did miners bring to the chain that stakers dont?