
Ethereum Constantinople Explained - briggsr
https://achainofblocks.com/2018/12/20/ethereum-constantinople-hard-fork-explained-simply/
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jamespitts
The author of the article mis-represents a goal or rationale behind reducing
the block reward:

> This new update reduces the mining reward from 3 ETH to 2 ETH which will
> reduce the yearly inflation of the coin. The goal of this is ultimately to
> drive the price higher, as we know that when there is less of something it
> becomes worth more.

This is a common point of view, but not universal and the effect on price has
not been brought up in deliberations amongst the core devs AFAICT.

The rationale for lowering the block reward is described in EIP-1234 as:

> In order to maintain stability of the system, a block reward reduction that
> offsets the ice age delay would leave the system in the same general state
> as before. Reducing the reward also decreases the likelihood of a miner
> driven chain split as Ethereum approaches proof-of-stake.

[https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1234.m...](https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1234.md)

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bigfartchili
No surprise that someone in the crypto space is severely mis informed while
also making it clear they only truly care about the price. The truth of it is
that Ethereum functions better as a system at $10 than $1000. Of course crypto
has been hijacked by brain dead speculators so it’s hard to see its true
value.

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gammateam
There seem to be two minds from Ethereum developers, Vitalik especially
echoing them.

Ether is gas, fuel needed on the Ethereum highway. He wants and does things so
that less fuel has to be used, leading to a massive supply glut. This means
extremely cheap Ether.

At the same time he does things like reducing the block reward from 3 eth to 2
eth, in a seemingly desperate attempt to constrict the supply and stem the
cheaper and cheaper prices of eth.

Who complains about cheap gas? Long-only speculators. Nobody within the
economy complains about cheap gas.

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gammateam
I’m really excited about the gas efficiency, although it isnt clear if bitwise
shifting itself applies to the functions I use

Do erc20 transfer methods become 10x cheaper? For example

Well it will be obvious after January 14th

