Topic: Arrow Glacier upgrade / ETH minable till June 2022 / difficulty bomb delaying (Read 390 times)

Yes and that is what will happen if there is no hehell crash up to that point, I dont believe eth will go to pos in july or even in 2022, like I said before most likely 2024 - 2026, I have a theory that eth will go pos before the next bullrun, will see how it goes.

Right.

So if the devs decide to stop mining at 04-july-2022, the miners will have good time to dump their coins before that. And on the 5th of july when the market open to trade the locked staking funds, the low price can trigger another selloff.

Well as soon as eth devs does the merger, all those staked coins are free to be sold in the exchanges, if the price is around 300 usd then I think some will sell cause everybody needs money, the majority will keep their coins, if eth at that time is high lets say 2k or higher then yeah, will be a mass selloff, making eth to crash to less than 300 usd and people dont buy prior bear market cause they know there will be no profit if they buy the dip, meaning, eth will crash very hard, how low? that is the question.

Some is used to pay for electricity and gear, the rest is kept in the coins they support. Some where mining ethereum when the price was $1 a coin, you don't need many coins to reach millions of $$$ with todays price.  Some of the biggest Ethereum owners are old miners. I read that 7.4 Million Ether, Close to $30 Billion Locked in ethereum 2.0.. When the oldtimers start the sellof down to $40. The 30 billions locked could be reduced to 0.3 billion, and there is nothing the staking holders can do about it..

Not a difficulty bomb anymore, but a squeeze..

Currently $ 9.26 billions worth of ethereum is mined every year. What will happen when miners can't find other coins to mine and have to dump ethereum to pay  for the electricity ?

I just made a test with my 280 Mhsh rig.In Ethereum mining right now I make about 550 USD and pay like 50 USD in electricity so a profit of 500 USD per month.I tried for a couple of days this 280 Mhsh in Ethereum Classic and it made me like near 300 USD monthly minus 50 USD in electricity 250 USD still profit at a really low price of Ethereum Classic right now.Also in RVN it was 135 Mhsh and near the same result as Ethereum Classic just a bit better than that.
My point is that if you have cheap electricity you can still mine other coins in a profitable way.Not everything is lost even if Eth goes PoS in the near future.

What do you mean billions of dollars will be removed? How do miners contribute to a project exactly? They are usually an expense because they sell their miner rewards to pay for their gear, electricity and income.

Or is there some type of funding that I don’t know about which is being funded by certain pools to continue the development of ETH?

Either way, I see ETH crashing also close to 80-90% however I don’t think it will go into double digits this time. Maybe lowest is $300-400 or so. Things are getting out of hand with Pepsi and all this NFT craze. I mean you can always right click and save the NFT…lol

Right now if hehell crash happens then I see eth crashing 94%, that is keeping only 6% from the top which at moment is close to 4900 usd, 1% = 49 usd  x 6 = 294 usd, so around 300 usd. That as right now selling climax and then keeping around 400 - 700 usd in the bear market. BTC will not crash much however selling climax lower than 10k and then 15k to 25k in the bear market.

This is not only a difficulty bomb.

Billions of dollars from the supporting mining communities will be removed, and the price of Ethereum could go back to $30-$40. The loosers will be those who lock their funds in the staking pot. Unable to recover their losses in a falling market. With 8% annual return on $30-$40 a coin...

That is going to be lower than that, negative profit at best, the question is, how much negative profit.


Like I said before, I dont believe the BS, eth devs have been talking about pos since 2015 and to this day, nothing yet. Here is where eth devs team is

Beacon chain that was supposed to be in 2019 was done close to 2021, november 2020, meaning, they are at least 2 years behind the schedule and trolls really think eth is going pos in 2022 july hehe, trolls going to be trolls, anyway, I said many times my forecast for eth going pos is the next bullrun, which will be around 2 to 3 years down the line, 2024 earliest, 2026 latest.

The truth here is, eth devs want to profit as much as possible in this crypto market and delaying the merger is for their own benefit. So they will do as planned with the crypto market manipulators.

This is why we need some good new coins before that time, we have ergo ravencoin, kadena and others but staying profitable for miners might be extremely difficult, also Im thinking why can't ETH just fork it's POW algorithm to safe miners? I believe pow and PoS can coexist in a single project, someone prove me wrong

This just seems like a difficulty bomb extension. Like we had 3-4 already in the past. The ETH devs as usual are behind schedule and need to extend the bomb because obviously there is no time for POS yet.

They are delaying it 6 months and then most likely some other fork to delay again 6 months, maybe with a larger update. I don’t think it’s the official POS launch date. I could be wrong however. Been years since I listened to their dev meetings.

This was pretty much expected despite the naysayers over the last 6 months or so. I would not be surprised to see this continue to be delayed as key milestones along the way are not met. The longer the better is what I am looking for, but I am prepared in the event they do meet this timeline. It's been a great 5-6 years and looking forward to seeing what is in store next.

source: hiveoos statistics

https://hiveos.farm/statistics/



78% of the worlds mining could be shut down next year.

Then the Ethereum classic difficulty will rise 2000%

100MHASH of dagger hashimoto hash could give $0.15 a day.

ETH staking:

 In the real world, financial instrument yields are tied to some kind of market mechanism. I've never seen an explanation
    for the ETH staking yield of 8%. Also what are the mechanics of changing this yield?

In the real world, 8% is a huge yield, assuming inflation is 2%, net after inflation is only 6%.

I don't believe 6% covers the risk in staking this asset.

I am expecting a new hardfork soon but one thing is sure I will never move from pow to PoS algorithm and I'm certain that many miners won't either, also ETH pow might be postponed once again I believe cos this have happened many times already, if the worst happens then I will start mining coins like ravencoin ergo and others for future sake

Testnet Ethereum 2 has already been launched.
I also want to mine Ethereum for as long as possible, but I need to evaluate my investment in mining, because Ethereum mining may end within 6 months, and there are no profitable alternative coins yet.
And after the news of the termination of mining, the price of the coin may well rise.

Since 2017, when I mined my first "vitaliks" ETH  , I heard about ETH moving to POS, ETH ending, ETH etc

Here we are, in 2021 and the team is still delaying PoS, for me it's clear, the team is scared to moving from PoW and mess with the coin
I'll continue to mining, my plans were until this end of year, but luckily I'll push another 6 months of mining ETH, and MAYBE, in mid of june 2022 we can post here again talking about the next delay of difficulty bomb 



I don't think this is going to happen, even in 2018, a bad year to mine and take profits, the market were not flooded by cards, at least in my country
And now we have insane GPU prices not only caused by miners, but lack of supply, chips, higher shipping costs, covid etc...
It's not so simple like that, and even in a bear market, there's plenty of people who still mine to sell later, or just to support the coin



Probably this is the message, but I really think the team behind ETH are not confident enough to move to PoS and this is hard to deal right now, if ETH chose one side, PoW or PoS, they will lose support, and the easy way is to delay


There are few coins, but the market of these "few coins" are higher then 2018, look shiba inu and these new metaverse and games coins, looks like ICOs


I believe we still not reached the peak, I think we can see BTC 72k and ETH 5K before some real crash

Yeah i hope more people like you are out there  

GPU mining will never die. It will be not so much profitable for some month like after the last bullrun 2017/2018.

wow 6 months left for eth miner and gpu will flooding to used market and gamer will happy atleast, many miner would sell their gpu rigs, some or small miner will continue

to mine other mineable coin for less profit, its feel like gpu mining will dying faster than people think

We are miners in the soul or not, the pleasure of finding blocks in solo for is much more Jewish than to see 1 eth at 10k $

I haven't been mining ETH for a while, betting more on other currencies the day ETH will hit the wall that built itself.

I never invested in pos, defi or token coins, in my entire life I only invested in proof of work coins, to me anything else is just scam. As soon as eth go to proof of stake, i will not invest on it anymore. I do have principles in that regard.

If this happens a new ethereum classic will spin of the hardfork. GPU miners will probobly sell all ethereum, because they tend to back the coins they make money on. Moving from POW to POS has always failed. There are a number of coins that have collapsed aftwer moving to POS...

I dont believe this bs but anybody who think of buying gpus for mining must pay attention to this. I think this is a message to miners --> buy eth, dont buy gpus to mine eth. I suppose manipulators want to increase eth value a lot coming months by inducing hype anyway they can, so I guess the bullrun is not over yet, will have a last bulltrap, investors are smarter than in 2018, they are buying only few coins, they are not buying everything like they did in 2018. However they love rising altcoins in order to sell 20x more than they bought easily and with that money to pump those few coins. Anyway, in theory even if you buy gpus right now for mining, 6 months down the line plus the bulltrap that is coming, you can easily roi if you sell at whatever top coins will hit but selling at top is very hard and that top will last for few minutes at best, gambling right now is hard, only invest what you are willing to lose and that loss could go as much as 99.99% in minutes. Anyway, I would not buy anything right now, if you have gpus keep mining and if you have eth, keep it for now. For all we know this could be a huge trap and btc at 69k was the top.

Sounds like very soon ETH mining won't be the most profitable and later the PoW algorithm will be gone but not for good cos I still believe that ETH is better off with its pow algorithm instead of PoS but we will see how things will go I'm just hoping that other coins will be able to keep up

At Ethereum block height 13,773,000 the network will implement the Arrow Glacier upgrade which aims to postpone Ethereum’s Difficulty Bomb.
The Arrow Glacier network upgrade will go into effect around 10 December, delaying the “difficulty bomb”, an increase in mining difficulty, until June 2022 as the blockchain transitions from proof-of-work (PoW) mining to PoS.
The Difficulty Bomb was supposed to happen 4,000,000 blocks or 611 days after the Muir Glacier network upgrade. However, Arrow Glacier will push the bomb back further to June 2022. This will give ethereum PoW miners another six months to continue mining the Ethereum blockchain until the June 2022 change. Once the Difficulty Bomb does happen the mining difficulty will make it so PoW miners get phased out because it will be too difficult.