Ethereum Continues To Push Forward

When you think about it the possible merge of Ethereum to proof of stake is only about a month or two away. There merge will push forward a drastic change in how Ethereum is mined and a number of things are going to happen when that switch takes place.

What Will Change

With Proof of Stake that Ethereum is moving to you will need at least 32 Ethereum staked in order to become a staking node yourself. At the moment that's under $50,000 which is a sizeable investment but down by over $100,000 from the peak of its rally.

With this change we almost always see at least 50% of the supply of that token get locked up into staking nodes. This is going to cause a major reduction in liquidity in the markets which already is a bit of an issue and most likely cause the price to increase because of this reduced liquidity supply.

The other nice bonus for PC makers and gamers... GPU prices will most likely crash to rock bottom prices as the markets are flooded with second hand mining GPUs and the company still producing new cards. In fact the next version of Nvidias card is expected out soon the 4080 this September which pretty much aligns with the Ethereum hard fork that will take place. The price of these new cards should be around $700-$800 which means all of those 3080 cards will most likely be dropping down to $500 or less come October of this year. If you can hold out a few more months you most likely will be able to grab up some serious GPU deals perhaps even black Friday/Cyber Monday.

Testing

Ethereum continues to do test mergers including running a main side chain that is using proof of stake that continues to grow in value. Yesterday another such test dubbed Sepolia was a more complicated merge test where validators across the network had to coordinated the transactions for the swap. 94% approval rating when through while only 66% is needed and the 6% seems to be an error in which they are working on correcting.

That means switching to proof of stake is going to happen here at some point. It's clear the main networks want it and support it. From this report we are also getting some insight into a updated time table. While August was the original thought it seems like more October now. There might be some more small changes in August but I don't think we will see the swap till October/November which could very well spark a major rally in crypto.

For me I don't think we will really see this change happen till 2023 there's no reason to rush it there's a lot at stake an we have been waiting for about 5 years already for this to take place.

One thing that really floors me are the second layer tokens like Polygon(Matic) who are suppose to run efficiently have been plagued with their own issues. These chains also seem HIGHLY centralized as they can be taken off line as we have seen in the past for upgrades yet.