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A comment on Nvidia LHR Lock Officially Cracked Bringing Full Crypto Mining Speeds. Parent comment

Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M... by Vespasian on Monday May 09, 2022 @08:24AM (#31313231)
As I wrote in another comment, the miners are not really in control once there is an alternative solution.

They can continue using POW (if they manage to coordinate an independent self-destruct mechanism override) however they cannot force the actual users (private individuals and infrastructure providers) to do so.

If miners don't manage to capture a significant fraction of ETH value in their hypothetical ETHPOW chain it won't be worth their effort. Buying a GPU for mining now caries a significant business risk and prices are already declining.

PS: There are billions of dollars already staked in the (currently empty) POS chain.

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Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M... by mort96 on Monday May 09, 2022 @08:28AM (#31313253)
Well, we'll see I guess. I certainly hope you're right. But PoS has been "right around the corner" for the last half decade at least, so I'll believe it when I see it.

I do wonder what miners would do with all their hardware and infrastructure tho. Presumably they'll all just move to another cryptocurrency and nothing really changed, etherium got a little cleaner while bitcoin or whatever got a little dirtier.

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Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M... by Vespasian on Monday May 09, 2022 @08:32AM (#31313293)
A sensible approach :)

Let's hope that POW turns out to be a very brief (in the great scheme of things) peak of human creativity / stupidity.

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