HIVE and Proof of Stake
I sold my position in HIVE. I hate doing an about face on a position so quickly, but I came across an issue that gave me some concern.
My post the other day raised the question from someone of what the expected change in Ethereum to proof of stake consensus would mean for HIVE. I did a bunch of reading on the matter and it makes me uncertain enough to sell.
Proof of stake is a change to the consensus method used. If Ethereum switches to proof of stake, I’m not sure what role miners will have.
I wasn’t able to get a good feeling for when or even if Ethereum will implement proof of stake. It sounds like it could be some time in 2018, but it also sounds like its a change that has been promised for some time and there remain to be issues to be sorted out before it can be implemented. It may never happen.
Nevertheless based on what I’ve read, it seems likely that if it does get implemented, the need for miners for will be greatly diminished. While miners will move to other tokens, I can’t quite see how these other tokens, with much smaller market capitalizations then Ethereum, will be able to absorb the supply.
Until I can understand this better I thought I better sell.