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Re:Ethereum 2.0 launches by eric_cc on Tuesday December 01, 2020 @10:13AM (#25265840)
I just don't see it. Bitcoin could be forked to no longer use PoW if it became an existential threat.
Re:Ethereum 2.0 launches by flixic on Tuesday December 01, 2020 @10:53AM (#25266208)
Migrating from PoW took about 2-3 years for Ethereum, required massive changes to economic model, and developing all new clients. Ethereum leadership is still somewhat centralized, so this did not lead to multiple competing forks.

Doing the same for Bitcoin would be very hard, and if it simply follows Ethereum's footsteps, then it is unclear why even use Bitcoin.

But -- I hope we see this fork sooner rather than later. Bitcoin miners will have no economic incentive to capture back the CO2 produced.

Re:Ethereum 2.0 launches by bhaak on Tuesday December 01, 2020 @11:28AM (#25266623)
I disagree that it would be (technologically) hard for Bitcoin to transition to a PoS (disregarding that we don't have yet conclusive proof if any PoS model actually works long time).

Ethereum is built to a spec. That's why the different client developers had to coordinate their work. This is not the case with Bitcoin. There, the official client is the de-facto spec you have to comply with if you develop another client.

The bigger problem is that the current narrative of Bitcoin heavily discourage hard forks.

Transitioning to PoS would be a social task with Bitcoin, not a technical one. Also note that Ethereum was promised from the beginning to transition to PoS, they just didn't expect to take this long.

Re:Ethereum 2.0 launches by TearsInTheRain on Tuesday December 01, 2020 @01:10PM (#25267894)
Its a social task they already failed with the segwit fiasco. PoS would probably be worse
Re:Ethereum 2.0 launches by bhaak on Tuesday December 01, 2020 @03:05PM (#25269245)
What do you mean "failed"? Segwit was activated. After lots of infighting and after a hard fork for a new chain occurred but it activated on the chain that has the bigger hashrate as of today.

If the Bitcoin developers would push for a POS hard fork I would expect the chain to split into a POS and POW version but which version would become the canonical Bitcoin would be up for debate.

Re:Ethereum 2.0 launches by latchkey on Tuesday December 01, 2020 @12:31PM (#25267428)
ETH2 has been in discussions and development for more than 3 years.

ETH is still on PoW and will continue to be on PoW for many more years.

Re:Ethereum 2.0 launches by zadler on Tuesday December 01, 2020 @10:33AM (#25266016)
Bitcoin will continue to use PoW while the main chain transaction fees are enough to buy adequate security for the network. This could be a very long time, or indefinite if it continues on it’s current trajectory. And if it does, then some governments will almost certainly take an interest in mining as a way to generate revenue from available energy, as Venezuela is already doing.
Re:Ethereum 2.0 launches by wmf on Tuesday December 01, 2020 @02:36PM (#25268906)
Except Bitcoin is controlled by developers who have effectively promised to never fork.