A few friends of mine have asked me to create a small ETH MINE for them
... and an educated Redditer - Librty, you wanna self-identify? ... pointed out to not get caught investing in GPUs right before the Proof of Work swichover to Proof of Stake. (I was planning on going with second hand or refurbished anyway
... ) ... and then I was forwarded this : https://forum.ethereum.org/discussion/6407/why-you-should-not-mine-ethereum-now-with-more-rigs/p7
I've now read some more about CASPER, the PoW==>PoS switch, etc. . . and thought that it's not enough - but some. I know that many of you have thoughts. And some great links. If you're hoping to read more ... here are some comments/articles you might like:http://stackoverflow.com/questions/33802343/when-will-ethereum-switch-to-proof-of-stake/33802497#33802497
Is a good read, as is Vlad's article Aug 2015 "Introducing Casper “the Friendly Ghost""
Vinay's post on my birthday in 2015 (more than a year ago; Vinay, post more! It was a great read
helped discuss from the 10,000 foot level the upcoming stagesLOE
Clearly the Level of Effort (LoE) is always difficult to accurately assess when looking up at the mountain (of code to come).
Cryptocompare is really the next article discussing the current LoEs being worked on to segue from HOMESTEAD, into METROPOLIS .... and then into SERENITY (which is the switch from PoW to PoS) https://www.cryptocompare.com/coins/guides/the-ethereum-releases-of-frontier-homestead-metropolis-and-serenity/
estimates of Serenity being released in early 2017 .... Vitalik
's discussions of SERENITY - great reads ... https://www.reddit.com/r/ethereum/comments/3y0ysi/understanding_serenity_part_i_abstractionhttps://blog.ethereum.org/2016/03/05/serenity-poc2/
lead to some great comments too ... QUESTION: Being in CHINA and its affect on PoS
QUESTIONWhat I wish would be talked about more would be the NETWORK EFFECT during SERENITY - and how it will affect those of us geographically located in the People's Republic of CHINESE FIREWALL?
When I read "5Eth/block with 17 second blocks" - I wonder how it will be possible for anyone in PRC to be involved in mining, or trying to be involved in VALIDATION.
Finally, there is a great thread here (as one commented - this thread is like the gift that keeps on giving) https://forum.ethereum.org/discussion/comment/35824/#Comment_35824
which includes this:There was a presumption by the dev's that Casper POS would have been ready within about 16 months after the livenet was launched. They wanted a mechanism to phase out POW mining and so hard coded into the difficulty calculation an exponential component that would make difficult explode after that time.
POS development hasn't been so yielding for them and so they have postponed indefinitely the 'bomb' and have suggested instead a period wherein POW minining continues for the block chain, while POS is used to validate State. Only once POS has proved itself will they phase out POW altogether but there isn't even an approximate date when that might happen
Which has us end up on trying to understand how quickly we'll get from Homestead & Metropils (aka PoW) to Serenity (PoS) ... So, what are your thoughts?
When will Serenity be rolled out?
Have any good links that reads?