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A comment on Moving money internationally. Parent comment

Re:Moving money internationally by CryptoPunk on Thursday March 03, 2022 @02:44AM (#30538264)
0.1% is huge, but in no reasonable terms can it be called "planet destroying", when it's slated to be mostly eliminated within 6 months with the transition to Proof of Stake. The characterization is hyperbole.

As for the transition to PoS, the first phase of the transition was implemented on December 1st, 2020, with the launch of the Proof of Stake Beacon Chain. The Beacon Chain has been running without problems for over a year now.

The testnet for the second phase of ETH2 - which is when the execution chain is merged into the Beacon Chain so that Ethereum can fully switch from PoW to PoS and reduce its energy consumption by 99.95% - was launched on December 20th, 2021:

https://blog.ethereum.org/2021/12/20/kintsugi-merge-testnet/

The second phase is expected to be completed before the end of 2022.

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Re:Moving money internationally by Nursie on Thursday March 03, 2022 @04:33AM (#30538983)
> when it's slated to be mostly eliminated within 6 months

Ethereum, maybe, it's been six months away for years. BTC, nope.

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Re:Moving money internationally by CryptoPunk on Saturday March 05, 2022 @02:17AM (#30565206)
The difference between now and then is that now Ethereum has had the Proof of Stake Beacon in operation for over a year, and the next phase, which merges the execution chain into the PoS chain already, has a running testnet.

The projections on the completion date of the switch to PoS is now far less speculative / more reliable.

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