Are miners going to attack before the merge?

arielbit

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Quote from: FP91G on August 31, 2022, 05:02:07 AM

If I had my own crypto exchange, I would earn millions. When the ETHW coin trade opens, its price will quickly fall. You need to sell a lot of futures now, then sell a lot of coins before the start of the ETHW fork, but prevent other users from depositing coins. And then buy the right amount of coins at a cheap price.

Exchangers scams are as old as crypto LOL Grin

FP91G

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If I had my own crypto exchange, I would earn millions. When the ETHW coin trade opens, its price will quickly fall. You need to sell a lot of futures now, then sell a lot of coins before the start of the ETHW fork, but prevent other users from depositing coins. And then buy the right amount of coins at a cheap price.

borya2002

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Activity: 87

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btc miner free
, amd money I gave, pool money I gave, and eth miner paid I calculated 30 eth I gave 0,7%, since 2016,

I deposited 32 eth in stake and I don't give money to anyone, I only need to buy 2 tb ssd

philipma1957

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'The right to privacy matters'

Quote from: borya2002 on August 30, 2022, 03:10:58 AM

we don’t need ethw, we have bitcoin

I would insult you heavily ,but I won’t the reality is we don’t need eth pos and we do need ethw.

Ask nvidia,amd,intel how much gear they sold due to eth w.

and look at the daily earnings of eth w.

the real issue is the decision to go to eth pos with only 15 million staked coins. while they were 72 million premined coins.

pos is simply not secured.

all of those premined coins are liquid. they can be sold anytime. while the 15 million pos are locked.

I ask you do want to have your coins locked when 4x cheap ones were not locked. this will be an epic fuck up.

borya2002

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we don’t need ethw, we have bitcoin

OgNasty

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Leading Crypto Sports Betting & Casino Platform

Quote from: Drawesome on August 28, 2022, 05:23:44 AM

Is there a way miners agree to coordinate an attack on the network?

I think the attack will be in the form of continuing ETH_PoW in the form of a new forked coin. This will likely cause all sorts of chaos with NFTs and the like, which should be entertaining as long as you are safe. With so much hashrate it seems certain that ETH_PoW will continue on, but we'll see. I'm excited to see how things play out and if I get some free forked coins out of it and can still mine profitably with my GPUs, all the better.

adaseb

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Gamestop went higher, I think $400 or $450 or something. I know because I bought some at $10 and sold most of it at $20, lol.

And its also not normal for a stock to double or triple in value so soon. For it to go quickly from $10 or $450 doesn't make any sense. Many markets don't make any sense.

EDIT: Didn't realise this but Gamestop had a stock split, so the high was $80 after the split, before it was $450 or so.

philipma1957

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'The right to privacy matters'

Quote from: adaseb on August 29, 2022, 10:47:23 PM

Quote from: sp_ on August 29, 2022, 01:29:08 AM

Quote from: adaseb on August 28, 2022, 11:19:07 PM

The ETH dev have assumed this case and why there is a difficulty bomb.

But the ETH devs seem to forget about the power of the people and marketprice.

Ethereum will be split in 2. At the time of the fork ETH pow will be the weakest coin, but 2-10% of the Ethereum power consumption will be moved to secure EThereum POW. (The ETHW hashrate will be like the ETH hashrate in the summer of 2020)

29.08.2022

ETH: $1,449.34
ETHW: $50.83
For 1 ethereum you can get 28.5 ETHW (futures)

xx.10.2022

ETH: $600 (Miners and old investors are dumping)
ETHW: $200 (1/3 is put back to Ethereum POW)
For 1 ethereum you can get 3 ETHW (futures)

xx.xx.2023

ETH: $300 (Miners and old investors are dumping)
ETHW: $300 (1/3 is put back to Ethereum POW)

Stable coins and exhanges announce that they will move to the more secure ETHW POW chain. Smart contract projects will choose the strongest chain, and avoid the dying POS network.

ETH holder has lost 80% of their investment. ETHW holders have made +600%. Vitalik Buterin and his team has lost control of their project and their assests..

If this were to happen what would happen to all the tokens and stable coins that are traded on the ETH network. Which chain will a stable coin such as tether or usdc follow in that case?

They can’t follow both of them because that would be twice the supply. I think if you scenario were to happen then ETH would never recover and people would move on to another coin. It would cause chaos in most of the crypto ecosystem pretty much.

I am expecting a 300000 block last minute delay or merge and the best crash and burn ever.

But what do I know. GameStop stock went up up and away. so maybe eth does the same after its sept merge. (if a sept merge happens)

For those that don't know what GameStop did it went as high as 81.25 usd jan 29 2021 up from 4.42 on Jan 8 2021 it is down to 31.55 usd now.

if eth goes up 18x like GameStop did it will top btc as it will be near 27K

adaseb

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Quote from: sp_ on August 29, 2022, 01:29:08 AM

Quote from: adaseb on August 28, 2022, 11:19:07 PM

The ETH dev have assumed this case and why there is a difficulty bomb.

But the ETH devs seem to forget about the power of the people and marketprice.

Ethereum will be split in 2. At the time of the fork ETH pow will be the weakest coin, but 2-10% of the Ethereum power consumption will be moved to secure EThereum POW. (The ETHW hashrate will be like the ETH hashrate in the summer of 2020)

29.08.2022

ETH: $1,449.34
ETHW: $50.83
For 1 ethereum you can get 28.5 ETHW (futures)

xx.10.2022

ETH: $600 (Miners and old investors are dumping)
ETHW: $200 (1/3 is put back to Ethereum POW)
For 1 ethereum you can get 3 ETHW (futures)

xx.xx.2023

ETH: $300 (Miners and old investors are dumping)
ETHW: $300 (1/3 is put back to Ethereum POW)

Stable coins and exhanges announce that they will move to the more secure ETHW POW chain. Smart contract projects will choose the strongest chain, and avoid the dying POS network.

ETH holder has lost 80% of their investment. ETHW holders have made +600%. Vitalik Buterin and his team has lost control of their project and their assests..

If this were to happen what would happen to all the tokens and stable coins that are traded on the ETH network. Which chain will a stable coin such as tether or usdc follow in that case?

They can’t follow both of them because that would be twice the supply. I think if you scenario were to happen then ETH would never recover and people would move on to another coin. It would cause chaos in most of the crypto ecosystem pretty much.

Drawesome

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Quote from: Metroid on August 28, 2022, 07:34:47 AM

You trolls need to get over this, let the merge go on, let eth pow die. ETH POS = 100% centralized, meaning that any government can fully control and kill it.

Ignored

I was talking about a pre-merge attack. Thanks for your comments. About the delay, they've already said that will use the overread card.
Not an easy thing, not as low risk as they want us to believe.

Widdop37

member

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Merit: 11

Quote from: philipma1957 on August 28, 2022, 08:32:53 PM

Quote from: JayDDee on August 28, 2022, 07:40:13 PM

An "attack" usually refers to a specific form of attack known as the 51% attack that, if successful, can manipulate the blokchain.
You may be referring to an attempt to manipulate either the market price or some other aspect related to mining diffculty
or mining rewards. There is already an attempt to manipulate the mining difficulty trying to delay the bomb.

well the difficulty delay is doing its thing.

not much so far maybe three day delay.

Thereal danger is not from miners but from the 72 million premined coins 🪙

they are liquid and can crash the value of the 15 million pos coins.

the next danger is 25 million a day liquid income goes poof.

replaced by 3-4 million daily income frozen till at least Jan 2023.

No one knows the effect of pulling over 9 billion yearly income out of crypto and replacing it with 1.5 billion yearly which will be frozen for five months .

so basically heres looking at an amazing event.

or V.B. blinks and delays the bomb for 300,000 more blocks

I wonder whom the real players are here.

Nvidia
AMD
Intel
asic builders

Or Eth developers.

we should know soon.

Good points 👍, I never even think about this, so there is more danger ahead that could make a living hell out of Ethereum, sigh I still don't like how Ethereum is abandoning proof of work, this used to be the best thing that happened to the project.

sp_

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Team Black developer

Quote from: adaseb on August 28, 2022, 11:19:07 PM

The ETH dev have assumed this case and why there is a difficulty bomb.

But the ETH devs seem to forget about the power of the people and marketprice.

Ethereum will be split in 2. At the time of the fork ETH pow will be the weakest coin, but 2-10% of the Ethereum power consumption will be moved to secure EThereum POW. (The ETHW hashrate will be like the ETH hashrate in the summer of 2020)

29.08.2022

ETH: $1,449.34
ETHW: $50.83
For 1 ethereum you can get 28.5 ETHW (futures)

xx.10.2022

ETH: $600 (Miners and old investors are dumping)
ETHW: $200 (1/3 is put back to Ethereum POW)
For 1 ethereum you can get 3 ETHW (futures)

xx.xx.2023

ETH: $300 (Miners and old investors are dumping)
ETHW: $300 (1/3 is put back to Ethereum POW)

Stable coins and exhanges announce that they will move to the more secure ETHW POW chain. Smart contract projects will choose the strongest chain, and avoid the dying POS network.

ETH holder has lost 80% of their investment. ETHW holders have made +600%. Vitalik Buterin and his team has lost control of their project and their assests..

adaseb

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There really isn’t anything that they can do really. The ETH dev have assumed this case and why there is a difficulty bomb. So even if many miners refused to upgrade to the latest client which is where the fork takes place, then the network would grind to a halt since the difficulty bomb would take affect.

Sure you can stay on the old chain and mine it however everybody would need to use it. Most exchanges won’t call the old chain ETH and this is why it can’t really be attacked.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: JayDDee on August 28, 2022, 07:40:13 PM

An "attack" usually refers to a specific form of attack known as the 51% attack that, if successful, can manipulate the blokchain.
You may be referring to an attempt to manipulate either the market price or some other aspect related to mining diffculty
or mining rewards. There is already an attempt to manipulate the mining difficulty trying to delay the bomb.

well the difficulty delay is doing its thing.

not much so far maybe three day delay.

Thereal danger is not from miners but from the 72 million premined coins 🪙

they are liquid and can crash the value of the 15 million pos coins.

the next danger is 25 million a day liquid income goes poof.

replaced by 3-4 million daily income frozen till at least Jan 2023.

No one knows the effect of pulling over 9 billion yearly income out of crypto and replacing it with 1.5 billion yearly which will be frozen for five months .

so basically heres looking at an amazing event.

or V.B. blinks and delays the bomb for 300,000 more blocks

I wonder whom the real players are here.

Nvidia
AMD
Intel
asic builders

Or Eth developers.

we should know soon.

JayDDee

full member

Activity: 1424

Merit: 225

An "attack" usually refers to a specific form of attack known as the 51% attack that, if successful, can manipulate the blokchain.
You may be referring to an attempt to manipulate either the market price or some other aspect related to mining diffculty
or mining rewards. There is already an attempt to manipulate the mining difficulty trying to delay the bomb.

sp_

legendary

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Merit: 1087

Team Black developer

Quote from: swogerino on August 28, 2022, 12:14:59 PM

PoS coins have a much shorter life span compared to the PoW ones and what we are going to see with Ethereum is just that again.

https://cointelegraph.com/news/ethereum-dev-addresses-node-centralization-concerns-in-runup-to-the-merge

It's to make a Killswitch of the POS network. One phonecall to Amazon.

swogerino

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Bitcoin Casino Est. 2013

Quote from: Metroid on August 28, 2022, 07:34:47 AM

The only way they can attack is sell their eth in the market before the unlock of those coins that were staked, attack the eth network is not possible because there is no pool that has 51% of the hashrate. You trolls need to get over this, let the merge go on, let eth pow die. ETH POS = 100% centralized, meaning that any government can fully control and kill it.

The 51% attack can only come from the people who have stake a large amount of it which are its developers as funny as it sound,this means Ethereum when moves to PoS is not anymore a trust-less system but a centralized one that can get hit with the 51% attack whenever the "founders/benevolent" entities that control it want to attack,you see as I have already said several times PoS coins have a much shorter life span compared to the PoW ones and what we are going to see with Ethereum is just that again.

Metroid

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Xtreme Monster

The only way they can attack is sell their eth in the market before the unlock of those coins that were staked, attack the eth network is not possible because there is no pool that has 51% of the hashrate. You trolls need to get over this, let the merge go on, let eth pow die. ETH POS = 100% centralized, meaning that any government can fully control and kill it.

Drawesome

full member

Activity: 224

Merit: 146

Is there a way miners agree to coordinate an attack on the network? I know there is, the point is that I don't see the possible gaining other than short ETH in the market or making a point about the real danger of this merge.

Also, coordinate miners can (as some have probably already done) buy a PoW currency, then move their hash power to it, wait for the market to buy it, and finally sell and go elsewhere with their mining power.

Since a bit percentage of mining is in big pools, are they less likely to act in a "malicious" way for facing legal prosecution (or ethics)?

I just want to understand the game's theoretical options for the agents, miners are going to lose an income and be terminated, and they could try to take advantage of their power before being relieved. IMAO this merging process is totally unsafe, they can always use the override card (or the fork card like on the DAO event), but wouldn't that be proof (one more) of a deception?

I understand that this is an experimental technology, they're doing the necessary research and some good can come from it. But I find a huge part of the Ethereum community very arrogant, talking about flippening, laughing at other projects... That lack of modesty is what I don't get

Topic: Are miners going to attack before the merge? (Read 240 times)