Topic: ETH Metropolis is coming, what to expect? (Read 2624 times)

It's true the ETH network hashrate has increased exponentially, which cause the rewards to be diluted by all those mining. But since the ICE AGE effects began back in May, the difficulty is artificially adjusted according to programmed difficulty bomb, not the network hashrate. The artificially high difficulty along with the increasing block times most definitely affect everyone's profitability by slowing down the amount of blocks mined in the same time frame. Less blocks = less rewards = less profit for EVERYONE. That's the main reason ETH is no longer the most profitable coin to mine, since the difficulty bomb on August 25th and not because there are more people mining ETH.

Wait until the next ICE AGE difficulty bomb adjustment on September 24th and tell me if has no affect on profitability, LOL. At the current price, ETH won't be profitable to mine AT ALL for most people, until the hard fork scheduled for the end of September that will undue the artificial difficulty bomb adjustments and go back to adjusting the difficulty for the network hashrate along with reducing the block times back to 15 seconds and reducing the reward.

 The REAL, PRIMARY reason profitablity has dropped over the last 2 months is that lots of miners have been adding LOTS MORE RIGS with LOTS MORE GPUS chasing the same rewards and thus diluting the rewards between those LOTS MORE GPUS - coupled with ETH pricing and block payouts being nearly flat over that timeframe.


 The diff increase is a mostly a byproduct of MORE FOLKS CHASING THE SAME REWARDS coupled with the (so far small) ARTIFICIAL increase, and not a direct impact on profitabilty (though it does have an indirect effect).
 Ice age on the other hand, so far, has had a very SMALL effect on the difficulty.

 The Ice Age artificial increase does NOT affect profitability, only the "more GPUs mining" part of diff increase does because that does NOT affect all miners equally, while the Ice Age artificial diff increase DOES affects everyone equally.
 I continue to state it is a stupid concept with no real reason to exist, since it affects all miners EQUALLY and doesn't change the rewards gained from any particular block - it's the dropping BLOCK PAYOUT that is effecting that.
 It also doesn't affect block rate over the long term.

 Consider Bitcoin, which also uses a difficulty system which has gone up a TON more than ETH has yet the block are still targeting the same timeframe to be issued - it's just SHORT TERM that adjustments get made due to diff changes - and in the case of ETH the "short term" is very short indeed.


 You might want to consider looking into ALL of the facts before you call someone else ignorant.

What the? You are seeing the ice age already for these two months and you can see the effects and you are still saying that it has no impact on profitability? I dont even know what to say, are you blind or totally ignorant?

What you are saying is of course totally wrong. The difficulty risens and therefore miners cannot find blocks as fast as they could. So in reality this prolongs the Block Time and therefore reducing ALL MINERS PROFITABILITY. So ice age, rising diff for all = higher block time ( from 15 to 24 sec) = totally shitty profits for everyone.

The reduced block reward to 3 will have absolutely no impact because the block time will revert back to 15 sec. So those two effects will cancel out.

You really really think that vitalik and other eth devs are so stupid?

Since the difficulty bomb affects ALL miners pretty much equally, it's not going to have ANY noticeable effect on Ethereum profitability.
It's a really stupid concept and a total waste of time - whoever came up with the idea was NOT THINKING.

 The Ethereum "reduce reward per block" is what's going to hammer profitability, though it seems to be designed to be a gradual thing.

 ZCash IS as profitable as ETH - on SOME cards, particularly the higher-end Nvidia 1080 and 1080 ti where it is MORE profitable (it's been ballpark even with ETH on the 1070 most of the last couple months).
 It's generally lower on most current AMD cards, but AMD is NOT ALL THAT MINERS USE this time around (unlike Litecoin/X11 craze days where AMD had a clear advantage at the time) and again it's been CLOSE.


 Given how the ETH folks are implimenting things, I don't really see a "sudden" fallout for a while but I do see a gradual move as the profitability gradually drops for the next few months.

 A big price move would negate that estimate however....

There is a very good quote for people like you from Thomas Sowell.

ETC is not as profitable as ETH. Even Zcash is not as profitable

Signatum before the halving is more profitable than ETH but i believe it is dying now

We can mine ETC then.

Metropolis might not be in full effect this Last week of Sept

2nd update would be almost like death to Miners

OMG you are so good dude, you know everything, congratulations!

Traders like me who has been since 2009 know more than all you trolls combined hehe

It'll be interesting to see what other coin can handle ETH's difficulty when miners start to switch. If there is no viable alternative at least we will see a lot of cheap GPUs   

Please let us experience SUDDEN death Vitalik Buterin
We hate experiencing Slow Death for Miners

Supply and demand will take in effect.  Miners will turn to uppercutting price to resume profit.  Oh wait that will never happen.

For a person who thinks miners are stupid, you are ver worried and you knows everything about difficulty and mining world in general lol

Leave this section (and you forget about the suicide)

Today was a huge jump in difficulty, 30%. So from now on you stupid miners are earning 30% less and that will increase again next month hehe

Well, if RX 5XX series drop back to their original cost when they released, like 180/200 USD or so, then we'll still see a lot of serious miners buying these cards and pointing them to ETH network. It wouldn't matter much if occasional miners sell their GPUs to more serious miners since there won't be new GPUs activating to the network, but if the price of ETH shoots up to maybe 700 or 800 USD, well we'll surely see another run for the mill GPU scene.

AMD is going to both try to reduce the selling price and increase supply of RX Vega, as well as increase the supply of RX 500 cards.  Combine this with the artificial difficulty increases in August and September, and I predict a GPU Glut.  Miners will not buy new cards.

New or used, prices are going down.  And since the cost of equipment is going down, mining is easier and crypto-mining profits will decrease.

https://www.pcgamesn.com/amd/amd-rx-vega-launch-price-reduction

It could be a bloodbath.  Wear a helmet.

Here is another opinion on the consequences for miners
https://www.reddit.com/r/EtherMining/comments/6t56a0/important_information_from_todays_ethereum_dev/

https://steemit.com/ethereum/@joshbreslauer/ethereum-metropolis-upgrade-in-late-september

In addition, the so-called Difficulty-Bomb is actually delayed and will be part of the 2nd Hardfork of Metropolis.
The Difficulty Bomb should cause an expanding difficulty in ethereum's mining.
It is an intermediate step for the gradual replacement from proof-of-work to proof-of-stake.
This is the so called Ethereum "Ice Age".
But for the next Metropolis HF in September 2017 this should be delayed to the 2nd part and replaced by a simple Block Reward reducement from 5 to 3 ether per block.

No you won't make the same amount of US dollars as today because every month there are 1 million GPUs that start mining ETH and increase the difficulty.