Topic: Ethereum EIP 1234 accepted - page 2. (Read 1267 times)

The reduction of mining reward to 2Eth should have been done earlier,I know it is bad news for miners, but in the end, it may benefit all,  it was once said that the total supply will not exceed 100m,now we have crossed that

Thing for *3 is that people realize they really want developers to provide what they promise (ASIC resistance) , 2nd almost all ASIC turned coins are turning shit except BTC so only way to do is a hard fork and drop out all kind of ASIC/FPGA for sometime..

@asdb its difftent from when they moved from 5 to 3 eth since they also dropped the block time from 30 sec to 15 sec so it was a wash.  This is the first true reduction of issuance.


honestly I feel this is a good thing , my hope is gpu miners stay on the old fork similar to how etc was formed, then at a later date implement the constantinople changes along with a progpow or cn7 v 2 fork and let the asics have eth.

We need to reduce the dependence of mining profit on ethereum asap anyways, let asics have it.

I think this will show all those who say there is too much hash out there for other algos not to get destoyed when eth becomes unprofitable which i may well be with a 30 percent drop in block reward unless price rises by 30 percent.

When you all see that the majority of hash in etherum is asic based anyways , I have a feeling 70 percent of the the eth hashrate is Asic, vitalk and them i bet know this.

Miners will just find another coin to mine.

they are plenty of them, also most miners do eth because is the most ez one.

just a few ideas / facts

1º Constantinople will be applied in winter 2019. So still 1 year and 2 months away more or less. Many things can happen

2º Reward per block reduced to 2 ETH. If in 1 year ETH is at the same price, it will be an absolute NO GO for miners (although it's already a NO GO).

3º i don't think ETH will survive that long. Technical analysis shows that it's the worst top 10 performing coin. Huge resistances to break 20 day EMA. Many investors are dropping support on ETH and there is a very big lack of investment on ETH right now.

4º this can actually be good news for actual miners. Since this news will discourage people from investing on mining ETH. We have already seen the hashrate reduction from 268.000 GH/s to 252.000GH/s average. In the actual conditions, you have to be really mad, silly and stupid to invest a lot of money in mining a coin that will go unprofitable in 1 year. You´ll not even ROI at current conditions.

5º They obviously want to reduce the amount of coins generated, and begin to take away from the coin those miners, so that the migration to total PoS is done without many people complaining too much.

6º it's to be seen how PoS will reward people. Vitalik has never given numbers of how much money ETH is making out of Smart contracts. If ETH cap is around 20 billion $ and smart contracts have 30 billion, would be the migration to PoS a good idea?? My guess is that the money ETH is getting over smart contracts does not even get close to the value of the coin in the current manipulated market.

7º the real question: will it be worth to stock ETH so that, when PoS is implemented, you get a % of the money in smart contracts?? I think it will be a total NO. Specially when people begin to realise the huge problems ETH has with Scalability and amount of operations per second. Visa can do around 1700 operations per second. ETH only 20 and BTC only 4. If we want crypto to force real money away, ETH and BTC cannot do it.



Someone said, what about other coins?? When ETH goes PoS, a huge amount of GPU will have to search a place to go. There is currently NO PLACE TO GO THAT IS PROFITABLE. And if there is a profitable coin, it will go un profitable once those GPU collapse the pool, or even ASICS and FPGA collapse the market.

Tough days are coming.

We should drop ETH.
Since ETH dev don't give a shit about GPU miners we should leave them with ASIC miners and find new coins.
It seems Vitalik doesn't care anymore about decentralization

No need to be related emotionally with a spesific coin.
We miners (specially GPU), always will found a way to make some profit, less or more, but It will be.
ETH goes, HTE comes, LTC goes, CTL comes.
It doesnt matter, Important is to making profit.

Reducing the block reward will help solve inflation problem in the ETH blockchain. However, this will NOT be friendly to miners at all and may backfire.

ETH  is busy with hardforking
https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/

Don't think any Fpga has claimed to be effective on eth. Memory seems to be an issue.

Well at least they didn't reduce it to 1 ETH.

In my opinion, reducing it is fine however they should of made this clear much earlier like a year ago. A lot of people are upset and its not only the miners but many think this is a stunt to raise the market value of ETH by reducing the supply.

The ETH devs have too much governance power unlike BTC. 

People will still mine the coin, just like they did when it was reduced from 5 ETH.

What i find funny about this, is that they were very much for ProgPOW before they started selling FPGAs. I doubt they are much for ProgPOW anymore now that all they sell and advertise is FPGAs.

I agree with you exactly

if progpow was rejected then it only reinforces that changing the algo would only bring more problems to eth devs in the long term, a reduction to 2 eth from 3 currently is also conservative, so basically they chose to be conservative because probably eth could crash further if there was any damage from changing the algo. Anyway, my vote would go to reduce eth block reward to 1 and add progpow.

Also, fpgas are not a threat to ethash, asics like the f3 1.5 mhs and the incoming g3 7.5 mhs from bitmain are.

One interesting point, well see to what extent the network is infested by ASICs and FPGAs.

I would think profits go down for everything.  What we need is a rally only way to stave off lower profits when eth craps on us.

What about ETC?

You think it will profitable after a lot of hashing power moves from eth to xmr?

Even if Ethereum mining dies, just keep in mind that Monero is well alive and the profitability is almost the same if you exchange the coins in bitcoin or if you mine through mining software like Nicehash which pays you in bitcoin.

This is just a common meeting between the devs and I doubt it will have any game over effect on mining Ethereum.

FPGAs would be much less interesting to mine with, especially with the new gen of GPUs.