Perhaps The ETH Merge Isn't So Far Away
As it stands right now the biggest thing going on in crypto right now is trying to figure out exactly when ETH (Etherem) will be moving to a proof of stake system. It also brings up questions such as how ill layer two systems perform after this merge such as Polygon(Matic) and others.
Before we got news of yet another delay and August would no longer be on the timeline for when the merge would take place. Even with all of the successful test merges and other tests going on pretty much everything needs to be testing and retested none stop before this change takes place. To put is simply if ETH crashes and burns you can kiss crypto goodbye almost. As scary as that sounds it would take years to try and rebuild it all. On the other hand a successful merge could very well trigger a new rally as we would see one of the worlds assets of the very few skyrocket in value and demand which would be the ETH token in order to stake it and earn more.
This will crush all needed for GPUs creating what I believe will be a fire sale on GPUs. You'd most likely be able to pick up a used 3070 for under $300!
Quick note on staking rewards. If you wish to run a node yourself you will need at least 32 ETH to do so.
Why The Delay?
Another delay was added in to what is known as the difficulty time bomb. Pretty much what this thing does is trashes rewards for GPU miners thus forcing them obsolete and moves everything to the new PoS system. This change has been delayed and the new timetable for it now sets on September 19th of this year which makes the PoS system currently look like it could come as soon as September.
What's pretty big about that is nearly always rallies for crypto start is September and kick in until December falling into the new year. This could pump markets in the right direction and make crypto look like the only winner in the sea of negative happening in the stock market and the world in general.
Positive Changes
This change will slap the current laws and regulations along with feelings that crypto is bad for the environment. The chain will become crazy efficient using minor amounts of power in order to keep the chain running smooth. Instead of massive amounts of hot GPUs fueling the chain it will become a thousands of mini computers that could run with as little as 50 watts in order to secure the network. That's about 1/5th the power of a single GPU miner.
While personally I don't believe crypto is bad for the environment and is actully fueling jobs and power system innovations such as building alternative resource farms like solar, winds, geo etc.
While this change would do nothing in terms of fees it would make those yelling about climate and law makers trying to shut down or limit these systems become pointless and thus give them no grounds why not to support the system. However let's be honest though these constant complainers always find something new to complain about its the only thing they are good at.
Do you feel we will see ETH start changing to PoS come end of September?