With this ENORMOUS HASHRATE we can now say without a single doubt:
1º Once ETH goes PoS, there will be , at least, 450TH of hashing power searching for coins to mine, which will DESTROY any viable coin till that point. So the end of ETH is the END of mining. This is A FACT. Unless there is a coin that increases it's prices by x10 at least so that "difficulty vs profit" gives at least some money back. Or that appears a new ETH, which , BTW has not appeared in the last 5 years.
2º With this enormous hashrate, ETH devs are going to follow the EIP-1559 and will be implemented ASAP. Why? Because this ridiculous amount of hashrate leeds to MORE INFLATION, more coins, and more profit for miners. And only 1 or 2 DEVs supports mining to continue as it is. And ETH devs don't want this profit to this extent. So, miners are going to get destroyed very soon. Fees will be burnt, and DEVS are going to implement it. This is a FACT for me.
3º As this madness continues, DEVS are going to rush the implementation of PoS, so the end of mining, and i'm 100% sure that they are going to do it before 2022. Some were saying that by end of 2022 or even 2023. With the current situation of madness, and it's going to continue because PEOPLE ARE GREEDY AF, DEVS will have no option but to rush to implement PoS.
4º ASICS are taking ETH. I feel like there are more and more getting into the hashrate, and this is a disaster to all the comunity, because ASICS are the most profitable machines outthere, by far. And only very few people are getting them, and they are destroying the rest. My guess here? DEVS are not going to implement ANY kind a anti-ASICS code on the net, and so, this very rich-greedy guys are going to continue flooding the pool with very powerfull high-efficient machines that will force DEVS to end ETH mining FASTER.
It doesnt matter which vision you have on ETH. This are FACTS, and as time goes by, more and more people are entering this market, and you, ALL OF US, are going to get less and less and less. It's a F. disaster. This is pure greed and madness.
Interesting points but not quite FACTS as you put it.
1/ Yes, a good chunk will sell-up and not return (hopefully) and it will leave the rest.. I've been mining since 2 years before ETH came along and in '13-'15 there was PLENTY of coins to choose from that were all marginally profitable at the time.
2/ Possibly, More than 51% of the hashrate (pools) have opposed the EIP.. So it could well be interesting if they try to implement it. See
https://stopeip1559.org/3/ POS has been 'coming' since 3 months after ETH's birth in '15.. 6 years later.. Yep, it's still 'coming'.. Albeit closer.. but nonetheless still 'coming' .. My guess is minimum 2 years, likely 3-3.5 years away.
4/ I absolutely agree.. A couple days ago Vitalik said in an interview regarding POW he was looking at
possibly inflating DAG size to 7.5GB (static) for rest of POW period.. This would wipe off ALL current ASICS and 6GB GPU's for that matter.. How serious he was I don't know I suppose we'll hear more in the coming weeks.