Core devs call wrapped up:
1) Mainnet shadow fork #9 scheduled for next week
2) Sepolia testnet TTD/merge completed
3) Goerli testnet TTD value to be decided on in consensus layer call next week or core dev call the week after
Topic: Death of Etheruem mining - Predicitions - page 2. (Read 2662 times)
mmm so mr v says he is concerned that pos will have a possible issue due to Lido Finance holding 33% of the staked coins.
Could it be an excuse for Vitalik to delay PoS yet again? They could claim they're "working on a new algorithm to decentralize staking pools"well if you read the thread by sp_
https://bitcointalksearch.org/topic/eth-20-can-be-delayed-to-2024-5402672
mr v may be sweating it a bit.
mr v still owes me 2 eth and an apology which I know will never happen.
sp_ has some compelling arguements in his thread
and the idea that 1 group with only 4% of all the eth is the driving force for pos is a damn good reason to not do pos.
StETH is still trading at a discount. Basically it’s around $1170 while ETH is around $1212. Basically stETH will equal exactly ETH however it’s only post merge and somewhere like 6 months ago.
So you could basically buy stETH open a short on ETH and wait like 9 months and get like 4-5% gain. Basically not really worth the risk actually.
Either way, unlike UST it didn’t depeg too much. But if it were to go to 80% of ETH then perhaps It’s worth buying if you want to hold ETH long term.
So you could basically buy stETH open a short on ETH and wait like 9 months and get like 4-5% gain. Basically not really worth the risk actually.
Either way, unlike UST it didn’t depeg too much. But if it were to go to 80% of ETH then perhaps It’s worth buying if you want to hold ETH long term.
mmm so mr v says he is concerned that pos will have a possible issue due to Lido Finance holding 33% of the staked coins.
Could it be an excuse for Vitalik to delay PoS yet again? They could claim they're "working on a new algorithm to decentralize staking pools" 
The Ethereum mastermind noted that Lido Finance, the largest provider of staking services for Ethereum, where around a third of staked ETH (stETH) has been deposited, could theoretically disturb the Ethereum network post-Merge.
The counterargument from the PoS folks will be:- Mining pools can launch 51% attacks
- Miners who launch a failed 51% attack will only lose a few hours/days of hashrate while they keep all their equipment. But rogue PoS attackers risk losing all their staked coins
I'm wondering if anybody here has a good rebuttal to their claims.
Core dev call just wrapped up:
As always, we appreciate your boots-on-the-ground updatesmmm so mr v says he is concerned that pos will have a possible issue due to Lido Finance holding 33% of the staked coins.
I see trouble 😈 just around the corner.
Good luck mr v. with keeping Lido on the lease once POS give them leverage.
The Ethereum mastermind noted that Lido Finance, the largest provider of staking services for Ethereum, where around a third of staked ETH (stETH) has been deposited, could theoretically disturb the Ethereum network post-Merge.
The counterargument from the PoS folks will be:- Mining pools can launch 51% attacks
- Miners who launch a failed 51% attack will only lose a few hours/days of hashrate while they keep all their equipment. But rogue PoS attackers risk losing all their staked coins
I'm wondering if anybody here has a good rebuttal to their claims.
Core dev call just wrapped up:
As always, we appreciate your boots-on-the-ground updates 
Ethereum (ETH) co-founder Vitalik Buterin has said he is "definitely" worried about centralization risks following The Merge, the event when the current Ethereum Mainnet merges with the beacon chain proof-of-stake (PoS) system.
The Ethereum mastermind noted that Lido Finance, the largest provider of staking services for Ethereum, where around a third of staked ETH (stETH) has been deposited, could theoretically disturb the Ethereum network post-Merge.
https://cryptonews.com/news/vitalik-buterin-confirms-post-merge-ethereum-centralization-concerns-urges-not-to-overly-catastrophize-it.htm
The Ethereum mastermind noted that Lido Finance, the largest provider of staking services for Ethereum, where around a third of staked ETH (stETH) has been deposited, could theoretically disturb the Ethereum network post-Merge.
https://cryptonews.com/news/vitalik-buterin-confirms-post-merge-ethereum-centralization-concerns-urges-not-to-overly-catastrophize-it.htm
Core dev call just wrapped up:
1) 7th mainnet shadow fork done Wed, some non-merge issues with Erigon/Besu clients, fixes being put into place, 8th mainnet shadow fork set for two weeks from now.
2) Sepolia beacon chain live, TTD/merge targeted for Jul 6.
3) Mainnet difficulty bomb delay fork (gray glacier) still targeted for Jun 29.
1) 7th mainnet shadow fork done Wed, some non-merge issues with Erigon/Besu clients, fixes being put into place, 8th mainnet shadow fork set for two weeks from now.
2) Sepolia beacon chain live, TTD/merge targeted for Jul 6.
3) Mainnet difficulty bomb delay fork (gray glacier) still targeted for Jun 29.
If you are not selling ethereum, but pay the costs with stablecoins when you sold ethereum for more than $4,000, then this is a better situation for miners who already have working mining farms. Beginners do not buy video cards and miners with expensive electricity are turned off. This will allow the old miner to get some coins before the end of mining.
Not only that but even the difficulty has gone from 12.79 P the lowest in these last couple of days to near 15 P which is currently at 14.74 P and this only shows no one is turning off their rigs,small or big miners are continuing to mine.I am continuing to mine also and I have also plan B to switch my rigs to Ethereum Classic if Ethereum goes PoS for real during this year (personally I believe that would be the dumbest move the Ethereum developers can make but who am I to judge).
According to ethscan, the difficulty has only gone down in the past couple of days. I was GPU mining from 2014 onwards.. 2 years before ETH was born.. you know what? there was tons of coins to mine.. Yes ETH holds most the hash power now but I'm sure it will be fine when ETH goes POS.. It will be like 2015 
Yes, there will always be tons of coins to mine with GPU. But it won't be profitable in almost 98% of cases. The rest of 2%, will only give you cents per day on a high-end GPU. The space will be left with enthusiasts and hobbyists.
Bla bla Bla
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
I was GPU mining from 2014 onwards.. 2 years before ETH was born.. you know what? there was tons of coins to mine.. Yes ETH holds most the hash power now but I'm sure it will be fine when ETH goes POS.. It will be like 2015
Back to the times when DASH was called 'Darkcoin' 
Bla bla Bla
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
Not only that but even the difficulty has gone from 12.79 P the lowest in these last couple of days to near 15 P which is currently at 14.74 P and this only shows no one is turning off their rigs,small or big miners are continuing to mine.I am continuing to mine also and I have also plan B to switch my rigs to Ethereum Classic if Ethereum goes PoS for real during this year (personally I believe that would be the dumbest move the Ethereum developers can make but who am I to judge).
I was hoping for the difficulty to further got down below the 12.5 P level but the price of Ethereum recovered somehow together with the difficulty making it more difficult and smaller daily rewards for miners but who cares as long as we keep collecting small amounts of crypto every day.
I was GPU mining from 2014 onwards.. 2 years before ETH was born.. you know what? there was tons of coins to mine.. Yes ETH holds most the hash power now but I'm sure it will be fine when ETH goes POS.. It will be like 2015
Bla bla Bla
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
shhhhhhhhhhhhhhhhh... quiet...
Bla bla Bla
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
eth mining is dead
eth mining will be dead
I am mining and mining and
mining looks good to me as of today!
I am talking about the big farms not small operators like us who only have GPU mining rigs,those huge farms with expensive electricity cannot afford to continue mining at a loss,not all of them but some of them,if those farms are shut down then it is only normal that difficulty to come down dramatically
Large farms tend to have the lowest power cost, plenty of capital to keep their doors open and worst of all, have difficulty selling their farm or equipment. Here in the U.S., mega-miners like RIOT would have to pay depreciation recapture tax of 21% if they sell their equipment, on top of the costs of selling in such bulk quantities. It would cost them millions in labor to even pull out the miners and list them for sale. That's why I said last month that if BTC went to $5k, the really big farms would just shut down like an Egyptian tomb until price recovers to a point where revenue pays for power. Worst case, they declare Chapter 11 bankruptcy and some investor swoops in to buy the facility. The miners will always keep mining, thus the difficulty won't collapse like it did in the past (at least for SHA-256).This market will discourage small miners and not the big ones. You can still squeeze a tiny bit of profit, but it won't be enough incentive for someone with only a couple of GPUs. They would rather sell because the price will only drop.
Network difficulty went down by like 10% in the past 3-4 days
https://ycharts.com/indicators/ethereum_network_hash_rate
It will only go down, but the price might climb again. So yea, your prediction about Price v Difficulty might turn out to be correct too.
The market for RTX3090 rendering would be DAZ3D
How much volume would that be? I don't think 3D rendering artists will be able to absorb the deluge of millions of RTX 3090's. If the pool of buyers is small, which I expect, prices will be cheap. I doubt that. A RTX 3090 has 24 GB RAM. It is sought after for 3D rendering applications.
The big enterprise megacorps that build 3D rendering farms tend to only buy new hardware, even if the price-to-performance ratio sucks. The extra capital cost is tiny compared to the labor cost of six figure technicians & developers. These companies need warranty support as well. At worst, they will buy last-gen Quadros or RTX 4090's. The ideal market for these used RTX 3090's would be somebody like Linus Tech Tips or a scrappy AI research startup who needs model training for cheap. These types of companies won't amount to enough demand to buy millions of RTX 3090's.
Therefore I'm sticking to my $500 prediction.
Consensus layer dev call wrapped up:
Thank you for the constant updates on the devs. I would award you merit but sadly I don't have enough.https://www.daz3d.com/
I am talking about the big farms not small operators like us who only have GPU mining rigs,those huge farms with expensive electricity cannot afford to continue mining at a loss,not all of them but some of them,if those farms are shut down then it is only normal that difficulty to come down dramatically
Large farms tend to have the lowest power cost, plenty of capital to keep their doors open and worst of all, have difficulty selling their farm or equipment. Here in the U.S., mega-miners like RIOT would have to pay depreciation recapture tax of 21% if they sell their equipment, on top of the costs of selling in such bulk quantities. It would cost them millions in labor to even pull out the miners and list them for sale. That's why I said last month that if BTC went to $5k, the really big farms would just shut down like an Egyptian tomb until price recovers to a point where revenue pays for power. Worst case, they declare Chapter 11 bankruptcy and some investor swoops in to buy the facility. The miners will always keep mining, thus the difficulty won't collapse like it did in the past (at least for SHA-256).It will take some time to adjust but I am sure it will eventually
I feel like for GPU coins, we are in October 2018 where price was down 80% from ATH, the network diff just started to fall, but it took until March 2019 for the real selloff of video cards to be complete. Difficulty ended up being half of the 2018 peak, but price was only one-eighth of the 2018 peak. ETH bellow $1000 today...
Waiting for the difficulty of it,the Ethereum network to adjust to it,or said in other words,seeing a lot of people shutting down their operation while the others who will continue to mine at a loss maybe,will keep collecting more and more of the coin they receive the payout from mining.So far it is not materializing but I think it will do in the next couple of days.Difficulty still well above that 13.5 P but I am sure we will see that below 12 or even further below that which will make the people who continue mining getting generous mining rewards daily.
That is my comment for Eth below 1000
. I do not think that miners will immediately turn off their mining farms, because there are 3-4 months left until the end of mining. For example, I will wait for this event and I will mine, maybe it will be delayed until next year.
I am talking about the big farms not small operators like us who only have GPU mining rigs,those huge farms with expensive electricity cannot afford to continue mining at a loss,not all of them but some of them,if those farms are shut down then it is only normal that difficulty to come down dramatically.So far it is not happening and I am amazed seeing it well over 14 P right now but I know that after a couple of days in bear market when price of Ethereum to reach even lower then the difficulty will be down.It will take some time to adjust but I am sure it will eventually and that is great for the miners who will stay online.That is my point.
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