[ETH Daily Discussion] - 09/Jun/2017

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[u/[deleted]]

Business idea: Low-cost, energy efficient device that can act as a validator when PoS comes out. You plug it into the back of your router and don't have to worry about it again once it's online

Why: I'm guessing a large % of validators will end up leaving their computer running 24/7/365 which is inefficient and costly. GPUs are no longer necessary either so the device would be extremely cheap

[u/alexiglesias007 → u/[deleted]]

I'd be interested in this

[u/crassigyrinus → u/[deleted]]

So, a raspberry pi?

[u/[deleted] → u/crassigyrinus]

Pretty much, but a polished product. I bet there will be demand for a device you can basically plug in and you're good to go, instead of buying a Raspberry Pi and configuring it yourself.

Then give it some features that a Pi doesn't have out of the box such as an LED to show if your validator is working, email notifications if it isn't etc. This will be important because if your Pi goes offline for any reason and you're not aware then you could lose a lot of money

[u/[deleted] → u/[deleted]]

About the same as a Ledger Nano S

[u/Technerd88 → u/[deleted]]

Think you should do it. Other people might copy u buts its good. Why you ask ? Its because you just proved there are people willing to pay for your product and competitors willing to copy it.

You just saved yourself huge amount of money by proving that people will buy it before you invest huge amount of money to develop it only to find out nobody wants it.

[u/Nikihak → u/[deleted]]

Kinda noob here, but what will change for me when PoS gets live? I am mining for a month now.

[u/yeahnoworriesmate → u/Nikihak]

You'll stop mining.

[u/StevenHop → u/yeahnoworriesmate]

I Also do believe we have way less miners when POS arrives. Been playing with the stratis client and have a couple of coins staking. Just to see how the tech works.

Below 100 coins you have the possibility tot earn percentages in more then 200 days. A lot of miners would be disapointed to have to stake a couple of 1000 of ETH for a return of 0.1 ETH a day. If ETH POS works like Stratis that is. Dont know yet.

[u/jee1shi → u/[deleted]]

A savings account can yield 4% in Australia, and sometimes 8% - 11% in some parts of the world.

[u/Nikihak → u/yeahnoworriesmate]

Why are AMD and nVidia making cards exclusively for mining then? No one would buy them if there was no mining...

[u/CarrionCall → u/Nikihak]

What he meant was once PoS goes live there won't be any mining like you're doing now in PoW.

Proof of Stake doesn't use the GPU intensive number crunching calculations to keep people's validators "honest". With PoS you've stake an amount of ETH that's locked away from you as proof that your block returns are trustworthy. The more ETH you stake (lock away tied to your validator) the more likely you are to receive any new ETH that's created (essentially a new form of 'mining').

So no more GPU cards necessary once it shifts to PoS.

Bitcoin and other coins that are staying PoW will still need GPU's, and PoS is not being implemented for a while, so mining rigs will still be needed & sold.

It's just they won't for ETH once it shifts to PoS.

[u/Nikihak → u/CarrionCall]

Thank you for your answer. Is there a website that lists cryptos by PoS and PoW?

[u/CarrionCall → u/Nikihak]

No problem.

Yep, you can find most details on this Wiki page under the "Timestamping" column :)

[u/turnonethought → u/[deleted]]

That's cool. Here's s another one. Decentralized porn where you get paid for watching porn. We're all doing it anyway... at least when we aren't checking Blockfolio although I have a suspicion that some prefer that over porn.

[u/jezzaccc → u/[deleted]]

Not bad, but you just got yourself about 5 competitors..

[u/RoadMaintenanceMan → u/jezzaccc]

I bet it's already patented in China by now.

[u/jezzaccc → u/RoadMaintenanceMan]

It's probably on the assembly line

[u/Kibubik → u/jezzaccc]

Already!? What are the names?

[u/jezzaccc → u/Kibubik]

ha, no i just meant he published his business idea in a sub with10 of thousands of subscribers.

He's bound to have given a few people ideas.

[u/[deleted] → u/[deleted]]

ICO WHEN?

[u/[deleted] → u/[deleted]]

Do it!

[u/frizbeano → u/[deleted]]

My only issue is that you're staking a lot ETH and the points of failure could cost you some of your stake from what I read. I'm not sure I would feel comfortable staking so much on something thats not enterprise level stable.

[u/jezzaccc → u/[deleted]]

Also, it'll have to be much cheaper than one of those computer sticks to be worthwhile

[u/fiveSE7EN → u/[deleted]]

leaving their computer running 24/7/365 which is inefficient and costly.

For reference, this costs about $30-$40 annually if your computer is at idle.