Vitalik Buterin sends 3,200 ETH to a deposit contract! Vitalik Buterin sends 3,200 ETH to be one of the first stalkers to validate on the new Ethereum 2.9 Proof of Stake blockchain.
The new ETH blockchain needs 524k ETH prior to December 1st for the genesis block to launch, but only 37k are ready to stake. We’re not yet at 10% of ETH needed to stake, but this could be seen as Buterin trying to increase confidence.
The Ethereum Foundation is expected to stake as well, but it’s not clear as to when they’ll join.
Staked ETH would be locked for about 2 years, essentially making this a time based savings account.
Concerns have been made as to whether or not the minimum number of ETH to launch the genesis block will be met, but most don’t see how it won’t be met. If the minimum is not met by December 1st, the genesis block will be delayed and will launch 7 days after the minimum is met, whenever that may be.
With the incentive at 21% yearly interest in ETH, it’s unlikely that the minimum won’t be met. The only concern for locking up ETH would be in the bear and bull cycles that would inevitably be missed out by ETH stakeholders over the next two years.
Such are the risks that a pioneer staker must take, but there are plenty of individuals and projects that hold ETH. 32 ETH is currently valued at $14,000. Quite a bit more than the $3000 earlier this year. The big question is how much the 32 ETH will be worth in 2 years.
Another big question is whether or not the minimum will be met by December 1st. What do you think? Let us know on our Facebook page!
