Topic: ETH network hashrate going to the moon!!!! - page 6. (Read 11060 times)

The Chinese had an announcement that they would release new Asic devices in August 2019. Apparently this happened. The X11 and Et hash algorithms have just entered the market. This is not the limit

If it is not enough that Gpu profitability of Eth is going down like crazy now during summer also juniors or high school students want to try this thing called mining.They start with little Gpu-s but they are not aware that they are increasing the network hashrate by doing so.

The answer to your post is very simple:

1º I upped the post because i was the creator.
2º Because i can do it.
3º Because it's an actual issue
4º Because opening a new post when there are related to the issue already opened is actually harming the community (FYI).

Now, The amount of hashrate has been increasing, WITH NO REASON but there are big spikes that offer enough evidence to discard that a big farm has "re-entered" the market. The ETH network difficulty has spiked 23% in the last 3 months. If you had to pay 23% more anything that you commonly use, wouldn't that be a huge spike?There is no big farm for ETH with 15.000 Gh/s. This is just a well coordinated movement to destroy profit for first world countries to make it more centralized and in control of some countries. And if that was not the question, it's obviously a matter of pure profit (if the price gets to a point were you can get profit, even if it's small, people was commit to it, in an stupid movement). The profit of mining ETH is nearly 0 in countries with 0,09$/kW taxes included. There are very few countries that can make ETH profitable, and those are China, Venezuela, Argentina, Indonesia, India or south AFrica, all of them third world countries or countries in evolution.

The profit is so small, the even big farms don't win enough money to maintein their taxes and electricity bills. i've seen 4 of the biggest in Spain shut down. There are no big farms in my country due to high electricity prices, at 0.16$/kW taxes included.

Did they close, invest on solar power, and open again? Yes. So well coordinated that in 3 days 500.000 GPU join the ETH network? No, that's not possible. This is a coordinated action.Is this a massive farm with ETH ASICS?? Maybe even Bitmain using their new products against GPU miners??

When GPU mining gives you 0.20$ per card per day, to see 15.000 GH/s join the market, is just a disaster. But this is the key question: even with ETH at less than 100$, we were still above 135.000GH/s. I don't think people are so stupid to mine at a loss. So the most viable option, is that most of that hashrate is being mined with solar power. 
 

You are clueless.  Does this look like a giant spike?  https://etherscan.io/chart/hashrate   The hashrate has steadily been increasing over the last 3 months.  Everything in life isn't a conspiracy theory.  And why did you bump an ancient thread?

If you continuously keep up to date with Whattomine, in the last few months, GPU profitability in the aggregate, has been trending downwards. RVN and ETH  up until recently have been have been bearing the brunt of GPU miners. Coin forks and anti ASIC mining software have also helped GPU mining, but are these permanent solutions?  This also maybe a sign that money is moving out of Alts and into BTC.

BTC's first mover advantage might be more attractive to the type of people that are putting money into crypto now.

oh ETH going POS, right.  We shall see. 

it's clear in the quote. I said 15.000gh/s not 15Gh. 15.000GH/s in the GPU mining world are a huge amount of GPU's. Considering the most normal GPU card in all mining farms is the RX 570 and this card can do around 30mh/s, we are talking about an astonishing 500.000 GPU cards entered the ETH network in the last two-three days. Your data of 6 TH/s in 3 days is false, sorry. In three days it went from 165.000gh to 180.000GH/s. And yesterday, from 170.000Gh/s to 180.000GH/s.

We are not talking about big farms. A big farm cannot do that. We are talking about a very coordinated movement to crash ETH difficulty to the top, to make it less profitable and push people off due to high prices payed in first world countries, favouring third world countries such as China.

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Thanks for the advice, but current situation disadvices to do that movement, though it will have to be done in January-February 2020 once ETH goes total POS. And you know what will happen right??

simple as switch your mining rigs from ETH to ETC, the diff there is very stable 
support the real ethereum 

15 GH/s? you mean 15 TH/s and this is not much so what is your problem?
Why it is not possible to achieve this number with gpu´s? And 15 Th in 3 days is not correct, it is around an increasing of 6 th in the last 3 days.
Maybe some big farms change from zhash or something else to ethash algo.

Brutally increasing hashrate on ETH. From 165 to 180.000 Gh/s in just 3 days. What da Fuck is going on???

Are new ASIC joining?? GPU mining at current prices is just NOT PROFITABLE in the 0.09$ taxes included (which is only possible in third world countries) . 15.000GH/s appearing in 3 days? It's simply not possible for GPU mining to achieve that number. What is happening???

in 90 days, the difficulty has increased a 23%. WTF!!!!

I thought 3gb cards are goid till march 2019

I'm using 1060 3GB on HiveOS right now to mine ETH. I . havent checked ETC which is a few Epochs ahead of ETH. However I'm still mining ETH with them.

If Metroid is right, those 3GB cards won't make a noticeable drop in diff.

Ethereum difficulty will be additionally decreased because GTX 1060 3 GB aren't working from today with such a big DAG file of Ethereum. I hope it is going to help increase the profitability of other rigs while Ether mining.

any 4gb can still be used up to 2021 to mine, eth will be pos by that time, it was always known but like everything else, some miners gambled otherwise. Asics did destroy the market, as investors know there are asics 10 times more potent than they are letting it go public, why they will pay 10 times more for it? So reason eth price crashed x btc, eth supposed to be 0.3 x btc right now and is 10 times less than that at 0.026, so as those asics came to function as the price came to crash, basic and simple, 12 times stronger asics, 12 times price crash, right now 95% of network eth hashrate are those asics, 1% using gpu and 4% fgpa gddr6 which nobody heard about yet and may never will. If it was not for those asics, eth x btc would be around 0.3, for each bitcoin, you would pay 3 eth, even with the bitcoin crash, eth would still be worth $1200 at moment.

without asics $100 and $150 would still have been profitable, but yeah you’re right about the 4g problem
eth was supposed to be pos by now.

the only good thing about the death of mining is now our fears of what will be profitable to mine when eth goes pos is gone lol.  There’s nothing profitable now with power greater that 4 cents

I remember telling people here not to worry about the 4GB not being enough GDDR for mining ETH in the future or worrying about the upcoming ETH POS transistion, I told them that ETH will most likely not be profitable in terms of high difficulty and low price and its basically exactly what happened.

People were investing in 1080Ti instead of the cheaper RX 570 4GB because they were worried about the #300 Epoch which took it over 4GB. Or they were worried about it going POS and providing no mining reward what-so-ever.

However what killed it essentially was not the ASICs but it was its very low price when it broke the $150 mark or so.

vega 20 won’t do more than 50 eth and will cost at least 300, polaris will have life till 2020

more predictions that never happened