Mining will continue until the new wallet gets released. We don't know yet at which block the proof of stake hard fork will take place.
Oh - I managed to misunderstand the original statement; "Starting on Block 310,000 the PoW block reward will go from §100 per block down to §1 per block over a 33-day period at which time the 100% PoS algorithm will be implemented". We are a day away from SLR 1 per block - or even 0 per block if the '--3' continues - since we went to 99 and then --3 from there. It will be instructive to see how many miners keep burning electricity mining a 2000S coin at 1 per minute.
I will keep my little gridseed farm online to protect the blockchain, but it seems like a chasm of uncertainty looming tomorrow.
Good point! I hadn't realized the OP wasn't written quite right. I'll go fix that.
As to the "chasm of uncertainty", I'm not uncertain at all. The price has to go up.
If it doesn't, mining dries up, volume dries up, price will get stagnant, yada yada. Is that what we all want? The price isn't going to go up by itself.
Now
IS the time to buy since the over supply from the miners, who kept dumping on strong bids are, for all intents and purposes, gone. This is true whether we stay at PoW for a few more weeks or go to PoS right now. Would it have been awesome to have PoS kick in right now? Yeah. But there's a delay. That's why we have the fallback in place at 1/block. The whole point of this exercise was to address the over supply issue somehow so that we could get the price to a more palatable level
so that generators would start claiming their coins. To me that should be at least $0.10 if I'm going to convince anyone to claim coins. The demand has always been strong, now it seems to be "paused". The mission is still on track, the CCN team is continuing to work on figuring out how to properly address the issue they've bumped into. In the meantime, we're mining at 1/block instead of earning 1% interest. Big deal! LOL
I say carry on, add to your positions, push that price up to a level where is is profitable again, miners will come back, coins will be secure. It's all good.
But like I said, it isn't going to do it by itself. In one of my previous posts, I tried to show how even $0.04 cents would make it profitable to mine again. That's only four times the current value, it's certainly not out of reach or an outlandish goal. We can get there now without having to worry about a miner coming in and shoving it back down to a fraction of a penny. Ain't gonna happen anymore, that risk has been algo'd out of the equation. We're free to proceed now if we choose to.
That's my 2 photons.
