[bsaul]

Does proof of stake truely ends the GPU arms race ?

[andreaorru]

Yep. You can run a validator node by staking at least 32 ETH (or any amount through a staking pool).

Nodes will still verify transactions and execute smart contracts, of course. But there's no hash lottery to be won for mining blocks.

[imhoguy]

I wonder if this may cause some correction on hardware stocks as market would be flooded with used GPUs.

[0-_-0]

There are plenty of other cryptocurrencies to mine

[andreaorru]

There are a few (mostly Bitcoin forks), and you can probably make some profit mining them, but they are not big enough to have a significant impact on the global demand for GPUs.

At this point, most crypto projects with any real traction (with the obvious exception of Bitcoin) are either ERC-20 tokens running on Ethereum, or other PoS chains that claim to be better than Ethereum (i.e. Cardano).

Bitcoin isn't mined with GPUs anymore.

[0-_-0]

As I said, there are plenty of profitable coins for GPU mining besides Ethereum [0]. Ethereum moving to PoS will not move the needle, people will just move on to something else.

[0]: https://whattomine.com/

[andreaorru]

The hash rate for all the other projects beside Ethereum is minuscule.

Sure, some of it will move to other currencies, but my guess would be it won't be anywhere near 100% as you're suggesting.

[bunnyfoofoo]

What is bitcoin mined with now?

[saganus]

ASICs like the Ant miner series.

[andreaorru]

ASICs.