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RE: The next huge problem for ethereum looms large
>What do you think miners want to do? Hard fork to put them out of business through Proof of Stake, or hard fork to eliminate the difficulty bomb?
Anyone mining should be smart enough to know this would happen eventually and planned accordingly.
If I had to wager, I'd say that the miners who are working on ETH are just going to switch to mining other currencies once the PoS switch happens.
The equipment used for mining ETH are not ASICs and are just basic GPUs. Most people likely invested very little to mine JUST for ETH and even if they did, they'll likely be able to sell off or make use of their existing equipment.
Regardless of what happens, ETH is still an incredibly revolutionary product that will very likely change the world.
Anyone mining should now be smart enough to know that forking ethereum and continuing to mine on that fork is easy. Doing work for ether makes sense. Proof of Stake rewards the pre-mined coin holders, who own around 5/6ths of all the coins now and will be assured that they continue to hold that proportion for doing no work. I doubt there will be much sympathy when one weeds out the mindless worshippers of Vitalik Buterin. There's another hard fork coming, and there's yet another split coming.
Afaik a hard fork requires more than just miners. You could have 90% of the miners but if you don't have exchanges and users on the fork chain then you're out of luck. I didn't even know a difficulty bomb was built into Ethereum. All your post did was impress me with how forward thinking the developers are.