Six Options to Avoid ETH's Difficulty Bomb

[wry]

I have to admit up front that I have never been a bit ETH fan.  One of the reasons I like to use it for betting is that unlike Bitcoin I didn't understand it right off and despite protestations to the contrary view it as having no limit on its number of coins.  Obviously millions disagree as evidence by it being the #2 crypto after Bitcoin.  However, given my second objection, the no limit ever of ETH, I was really interested in this news article that talks about the "difficulty bomb" in the ETH code base.

Part of the effort to put a limit on coins, or at least the influence of more coins was to convert ETH from proof of work, like with Bitcoin, to proof of stake, like with Clam.  Basically, with proof of stake you get more coins for having coins.  However, proposals for this have NOT advanced well and so the difficulty bomb to essentially end the current proof of work protocol is looming without any clear alternative.  This article talks about the six current options.  Personally, as a fan of deflationary currency I'm not sure it's a total calamity but the ETH community seems to be concerned.

Anyway, I know at least a few of you out there in Stake Forum Land are ETH fans, what is your thinking?  This seems pretty significant, but it also seems like if ETH is suddenly harder to get shouldn't it become more valuable?

https://www.coindesk.com/before-the-bomb-hits-why-the-race-is-on-to-alter-ethereums-economics/

[Kate]

15 hours ago, wry said:

I have to admit up front that I have never been a bit ETH fan.  One of the reasons I like to use it for betting is that unlike Bitcoin I didn't understand it right off and despite protestations to the contrary view it as having no limit on its number of coins.  Obviously millions disagree as evidence by it being the #2 crypto after Bitcoin.  However, given my second objection, the no limit ever of ETH, I was really interested in this news article that talks about the "difficulty bomb" in the ETH code base.

Part of the effort to put a limit on coins, or at least the influence of more coins was to convert ETH from proof of work, like with Bitcoin, to proof of stake, like with Clam.  Basically, with proof of stake you get more coins for having coins.  However, proposals for this have NOT advanced well and so the difficulty bomb to essentially end the current proof of work protocol is looming without any clear alternative.  This article talks about the six current options.  Personally, as a fan of deflationary currency I'm not sure it's a total calamity but the ETH community seems to be concerned.

Anyway, I know at least a few of you out there in Stake Forum Land are ETH fans, what is your thinking?  This seems pretty significant, but it also seems like if ETH is suddenly harder to get shouldn't it become more valuable?

https://www.coindesk.com/before-the-bomb-hits-why-the-race-is-on-to-alter-ethereums-economics/

Wait are you saying that ETH doesn't have a cap of distribution coins

[wry]

1 hour ago, Kate said:

Wait are you saying that ETH doesn't have a cap of distribution coins

There is considerable talk about a limit or at least a much much lower rate of increase.  That was what motivated this "bomb" it was how to mostly end proof of work coin generation, to be replaced by proof of stake or ?????  

When first released ETH had no hard cap at all.  The website said coin generation would go so low it would have an effective cap since people would lose (e.g. misplace them) as many ETH as were generated so it effectively had a cap.