Many are not missing the point. Many will abandon ETH as it is no longer decentralized. This whole project was the "fractional reserve failure's" bait and switch. People are always seeking to demonize miners, but they need to consider they provided a large portion of ETH's user base. I have used my mining rewards for purchases. I have helped support and build a trading market for the crypto with which I was mining. I will no longer be nearly as active within this ecosystem.
I have a love hate relationship with ETH, and yes, I do agree that the progression here will take time. Time, however, could also reveal major issues. Growing pains here have just begun with the POS transition. Other POS networks have already undergone much of their growing pains... So why invest here now? The potential here is to lock up your funds staking, only to lose out in other areas where you are not restricted by the inability to access your funds.
Lets be honest, 10% annual returns are nothing in the crypto world... Who cares about 10% when you could lose 50% (or more) of your original investment before you even see the measly 10%. Also, what happens if it does go up 100-200%? Oh wait, your locked in with staking and stuck twiddling your thumbs, unable to lock in that gain...
Both CNBC and Motley fool have both reported ETH user base is contracting. Pretty much common sense though, with miners leaving the network. Overtime ETH may see the user base start to build again... but, once again, this will take time..
And, as for the "green" transition.. Well ETH going POS has NOT stopped me from mining. This is the case for almost everyone I know. None of us have stopped mining. I have mined ETH at a loss and HODL'd, just like I will mine other projects at a loss and HODL... Just because Ethereum Devs want to believe they have made crypto "greener" shows just how eth-centric they are. Pretty narcissistic...
This is my 2 cents. I do not want to see ETH fail, as I want crypto to succeed and ETH succeeding is best for crypto.
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