Topic: Death of Etheruem mining - Predicitions (Read 2662 times)

price is now close to 1480

coinbase is giving a free upfront 10% bonus if you stake 100 to 500 bucks worth of eth.

that 10% is unlocked

ie give 500 in eth they hold that 500 for a long time til eth2 is fully setup.

but they issue you 50 worth of eth liquid instantly.

and you get 3% on the 500 they hold.

this is a big incentive to stake.

maybe they are trying to get what I would consider the right amount of eth to be staked.

Now think about the following you bought in on the first 60 million premined coins.

your cost was only 23 cents a coin.

buy into coinbase now and get 50 bucks worth of eth at current price.

yeah it is restricted to only 500 with a 50 dollar bonus. but I think a lot of money may flow into coinbase.

if this continues and eth pushes close to 2k with coinbase getting a million more coins maybe eth will do the switch sooner rather than later.

Sounds a lot like what is going to happen during at least the year 2022.I see they kept delaying and will do so until early 2023 most likely.Now it is summer and people including developers prefer more a month at the beach rather than deploying new code or the Eth 2.0 as we know it.

The price of Ethereum has been steadily on the rise today going to near 1500 dollars and in fact it has been like that since Saturday when showed the first signs of recovery,probably because of the news of further delays is what I think.

I think until they actually have it in the code and an actual block number for the merge fork, we can keep assuming its going to get delayed as usual. They always run into some issues and it always gets delayed.

This being a very major milestone, I think if there is any minor bug or issue they will have to postpone the fork. I remember a couple years back, there was suppose to be a fork. They found some minor bug a day prior to the fork and they decided to cancel the fork and it was post poned. ETH price didn't really get affected by much because everybody knows the eth devs take their time and are always delaying stuff.

yea, but august not happening in any way.
MSF10 is next week along with the release of Goerli merge. So yea, if we witness a successful subsequent MSFs and Goerlie merge by the first week of August then I am very confident that mainnet will merge in Sept 100%

https://cryptonews.net/news/ethereum/9283879/

read the link
the sept 19 is a guideline not a set date.

you can turnoff the gaslight😀

Damn, the date is set for 19th September. My prediction for August turned out to be wrong 

I hope no one followed my pred with their money lol
If you did, sorry man 

Come on, dude. Don't make it like the end of the world for ETH if it goes PoS just because PoW miners can't have the pie of ETH all for themself anymore. I'm sure with the behemoth of ERC20 tokens and smart contracts on the ETH ecosystem, it will keep being on the top 10 at CMC even in the worse dream you have for it. Funny how ETH with PoW is good but ETH without PoW is bad when CMC shows a completely different trend. It was the PoW coins are being pushed out from the top 10 or 20 CMC. Expect BTC because it was the pioneer as well as the 'gold' of crypto, and ETH with the massive ERC20 tokens.

VB is starting to look like Josh Garza

GAW Miners  and his paycoin scandal

https://www.theblocktalk.com/2018/09/defrauding-crypto-ceo-josh-garza-sentenced-in-landmark-case/

How is he going to keep control of 122 million coins when only 15 million are locked in stakes.

If a few people got in big when coins were premined they could have 6 million coins for only 1.38 million.


They can load all the exchanges with shorts and dump their cheap 6 million premined coins spending under 2 million in 2016 dollars to score huge money in shorts.  ETH and POS = shitstorm. 

I Pray for VB as he is in serious trouble here.

When Ethereum goes POS and become a shitcoin it will not be on the top 10 marketcap coin anymore. Perhaps not even on the 100 list..

Maybe it is more profitable when ETH becomes POS because those majority who only knew how to mine ETH will leave, and the profits will be shared among hardened shitcoiners hehe

If that happens we will mark the September 19 as the starting date of Ethereum deep illness which will inevitably bring death to Ethereum just a couple months after if they truly go to PoS and start the merge at that time.

We as miners should not care much if it goes or not to PoS as we have a lot of other coins who will take over.We remember the days before Ethereum that a lot of other coins were being mined and few people were unhappy about it.Maybe the profitability is the best with Ethereum but even so a new coin will come up to substitute the Ethereum in mining after the death of Ethereum.

Lastly that date has always been delayed since 2016 and also we see a lot of testing now I still believe when we reach near the end of August that date to be postponed again.Better stock up those GPU-s at cheap prices.

Members of the Ethereum community have set their sights on a new date for the blockchain's long-awaited Merge.

Come September 19, the network is expected to merge from its current state as a proof-of-work
(PoW) blockchain to an energy-efficient proof-of-stake (PoS) network.
https://decrypt.co/105177/ethereum-devs-pencil-in-september-date-for-merge

Consensus layer call wrapped up:

1) Mainnet shadow fork #9 completed
2) Goerli shadow fork to be performed next week
3) Goerli TTD/merge tentatively targeted for the week of Aug 11
4) Assuming no issues with Goerli merge, Mainnet merge tentatively targeted for either the week of Sep 12 or Sep 19

No there were 72 million premined coins.

12 million went to developers

60 million went to investors at a cost of 13.8 million.

there are 122 million coins in total

say 50 million mined

so

60
12
50
122 total

only 15 million are staked

so 107 million are not staked.

my point is those 15 million staked are very small percentage compared to the cheap 72 million premined.

And the premined cost was only 13.8 million for the 72 million coins.

so pos staking spent a ton of highly valued coins to stake and they can be wiped out on the cheap by all the low cost premined coins.

none of us know how many of the premined are controlled by one or two people.

they can cheaply take over the entire staking with ease.

I can tell you that unless far more coins go into pos staking the risk is huge that you can be wiped by the

premined coin owners



edit more deep thought here.

so I am a major player I have 6 million eth all premined investment which would be only 1/10 x 13.8 million = 1.38 million

I find 2 other guys with 6 million eth premised money between us we have 18 million eth which cost us only 1.38 x 3 = 4.14 million

we could crash the entire eth pos setup and only spent 4.14 million back in 2016 to do it now.

how bout we are ready to do exactly that and have placed multiple leveraged shorts on eth  across many exchanges.

as I see current setup looks doable.  worse yet Mr V.B. made noise about Lido as they hold about ⅓ the staked eth say 5 million coins.

so if Lido is sniffing around looking to hook up with 3 holders of 18 million premined coins. they are now up to 23 million coins easily fucking eth up bigly.

How about they are ready to pounce on that and will have billions in 5x 10x  20x 50x leveraged eth shorts all over.

the cost is 23 million coins of which 18 million were only 4.14 mill in 2016 dollars. and maybe worse is that most of lido coins are dirt cheap maybe 20 bucks a coin when purchased so 20 x 5 million = 100 million and 4.14 million is 104.14 million laid out to make billions in leveraged shorts.

Mr V.B. is risking this by going pos with a mere 15 million of 122 million coins and so many premined unaccounted coins.

Mark my words eth to pos will be the most amazing shit storm ever seen.

now is that just good fud? or a deep thought of Clear and present danger of eth's current pos plan?

I TRULY DO NOT KNOW

You think an attacker is going to risk losing 15 million ETH? Only for the attack to be undone? Even at $1000 ETH that's $15 billion being risked on an attack that can be rolled back.

Last time I checked

about 122 mill coins

including the 2 coins of mine that got lost when the etc/eth rollback fork occured.

60 million pre mined and sold for about 13.8 mill dollars.
12 million developers took for them selves
72 million coins

and 50 million actually mined.

total of 122 million coins of which 15 million are staked
5 million by one company Lido Finance.

so at best all 15 million staked coins were from the premine.

thus there would be 45 million premined coins that one or two people may have control of.

so those 45 million coins could easily take control of the staking.

even if the developers add in the 12 million they kept.

as 45 is greater than 15+12=27

so the reality is pos is a disaster at this moment if it starts up it must fail.

I contend that for a viable pos to start far far far more coins must be staked.

since so many premined dirt cheap coins are not staked.

math does not lie here.  mr v b do the right thing stop this suicidal pos march.

it is underfunded and totally vulnerable to an attack by at least 45 million unstaked premined coins
this is as easy as

45> 15+12

that is the best case for staked numbers

reality is

107>15 is worst case number for staked coins

either way the staked amount is very easily overcome since it is about 15 million coins.

That together with the Vitalik concern of Lido Finance I am sure it will bring huge volatility to the market.Of course if we have PoS in the first place in August which no matter how many testnets they are doing I highly doubt we will see anytime soon the moving of Ethereum to PoS.I think that Vitalik can really use this Lido Finance which has like 33% of staked Eth as an excuse to not move on with the PoS for up to early 2023 as a bare minimum which I think it will be highly likely that it will happen this way.

MtGox that is ancient scam,I don't know but if the coin will be distributed to their rightful respective owners then this is great news.

Goerli is the next (and final) testnet to be merged (#3 item). Sepolia was merged this week (#2 item).

Pari is the developer working on the weekly mainnet shadow forks, the other devs work on other merge (and post-merge) items. Pari has not mentioned if he will be discontinuing the shadow forks.

Don’t know if you guys heard but around the same time that merge takes place it’s when the MtGox coins are going to be finally distributed.

Seems the second half of August will have crazy volatility with all these potential coins being dumped on the market. Wonder how bearish everybody will get as we approach closer and closer to the merge and MtGox drop.

I thought that the next testnet would be in Goerli testnet.
What is Mainnet shadow fork #9? how many more will there be before the end of ethereum mining?
If there are several more of these Mainnet shadow forks, then the developers may not be in time until the 4th quarter.