Topic: Eth Pow algo isn't going away anytime soon - page 2. (Read 489 times)
It does feel like it’s dropping fast. Feels like too many miners for the price.
But profits are taking a hit. Hash is rising and price is falling, might start to get rough. More asics with a reward reduction is going to make eth a lot less profitable. Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.
cheap power works until bitmain floods the market with its 3300 mh miner. pulls only 2800 watts.
this answer why the eth hash rate has kept up as it crushes the s19pro in $ per dollar.
link to its youtube video
https://www.youtube.com/watch?v=nNFa-HKTV4Y
twitter link
https://twitter.com/Antminer_main/status/1382880172563632129/photo/1
But profits are taking a hit. Hash is rising and price is falling, might start to get rough. More asics with a reward reduction is going to make eth a lot less profitable. Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.
Back in late 2015, people were talking about not stocking up on GPUs because in the Summer of 2016 the protocol is going to shift to POS and it’s risky buying GPUs.
So 5 years later and no POS. I think you are better off just buying the gear and if an EIP comes out which points to POS being completely launched then you can sell off the GPUs.
What is coming up is a hybrid type of setup. So most likely for 2 years you can mine ETH.
So 5 years later and no POS. I think you are better off just buying the gear and if an EIP comes out which points to POS being completely launched then you can sell off the GPUs.
What is coming up is a hybrid type of setup. So most likely for 2 years you can mine ETH.
There are many other coins to mine if Ethereum proof of work goes down today, stop worrying yourself over things you completely have no control over, lets wait till july and see if ETH team will kill PoW algorithm from their project or they will come out with better plan, I believe that eth will remain the same for many more years
And if it does go POS so what. There are other coins that it can be used to mine. Might not be as profitable but they are out there. For a while after XMR changed their POW the original miners were still profitable since the other cryptonight coins were still worth it to mine.
This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....
-Dave
Are you sure that other Proof of work coin can handle the who hashing power from Ethereum? I don't think so mate, not even Ravencoin can, it's better if Ethereum team work something out for both Pow and PoS algorithm to co exist together on ETH network This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....
-Dave
And if it does go POS so what. There are other coins that it can be used to mine. Might not be as profitable but they are out there. For a while after XMR changed their POW the original miners were still profitable since the other cryptonight coins were still worth it to mine.
This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....
-Dave
This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....
-Dave
I've stopped worrying myself about how long PoW algorithm bis going to keep up on Ethereum blockchain because of different reasons, the only thing that I hoped for now is fixing gas fee and also mining remains profitable atleast in this bullish market
It doesn't seem like eth pow algorithm is going to end ever because big Asic companies are building new Asic miners, for example the upcoming antminer E9 which has the power of 32 RTX3080, isn't that insane? 
, well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?
, well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?Vitalik made a deal with Jihan/Bitmain long time ago. You are right PoW won't go away for a while probably. It doesn't really matter at this point though. I don't think anybody cares if ETH is PoS or PoW. As long as the price go up everything is fine.
It doesn't seem like eth pow algorithm is going to end ever because big Asic companies are building new Asic miners, for example the upcoming antminer E9 which has the power of 32 RTX3080, isn't that insane? , well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?
, well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think? Jump to: