Hi, this is Wayne again with a topic “The Ethereum merge was successful”.
The ethereum merger and the move to proof of stake was successful. It’S the merging of ethereum’s main network with the layer that uses the new consensus mechanism. Basically, proof of stake has been in a sort of trial period for a while until now, and this move has been actually quite a few years in the making. Proof of stake is good because it reduces the amount of computational work, that’s needed to verify blocks and transactions pools of ethereum act as validators for transactions. Instead of solving complex math problems to become a validator, it takes 32 eths ether.
I guess it would be whatever 32 ethereum, which is over 60 000 US Dollars, though, so if the whole idea was it’s decentralized man it’s out of the hands of the elites man um, it’s specifically in the hands of the elites man yeah. So that’s cool uh people can pool resources, though, to become validators similar to mining pools. That’S I mean that kind of solves that, but you can no longer mine ethereum him. Proof of work does still work for ethereum classic, but it’s not exactly profitable. Even with cheap power and efficient cards. Mining on a GPU is now a very tough sell.
The price is also dropped. Ethereum was above 1700 US Dollars just a couple days ago. It is now at 1400 US Dollars. It’S almost like people just want to like mine on their gpus for sport, and it was never about it actually being um practical to buy things with ethereum uh Bitcoin has also dropped from almost 23 000 US Dollars. It had recovered a little bit down to 19 and a half today, okay, wow vitalik, the ethereum Creator says this should reduce Global power consumption by 0.2 percent.
Can that possibly be right, because that is so much bananas? Yeah? Okay, uh! That’S a bit! That’S that’s a bit. Oh um, the White House has put out a framework for regulating crypto in the U.S. They have a laptop. It’S been in the works for about six months. Uh. The new guidelines are meant to position the country as a leader in governance of the digital digital assets, ecosystem at home and abroad, and the treasury will complete an illicit Finance risk assessment on decentralized finance by the end of February 2023..
The framework points out that a stable usd-based coin could promote Financial inclusion and Equity by enabling access for a broadside of consumers, so an official, an official cryptocurrency. It’S it’s even more centralized man to make stable coins safer. The administration says the treasury will work with financial institutions to bolster their capacity to identify and mitigate cyber vulnerabilities by sharing info, promoting a wide range of data sets and analytical tools.
What does that even mean sure? It means the government is getting involved in our crypto? Oh boy yeah so we’ll see well my gosh, but okay. This is from ploof discussion question. What happens now? Will anything really change other than graphics cards being cheaper Linus coin, when nope the graphics card is becoming cheaper thing has been pretty crazy. Have you looked into that at all? I know whoa, it’s wild.
There is uh there is we ain’t filming, scrapyard Wars right now, but it might be the time for you to do your own .