Topic: Ethereum London Hard fork (Read 941 times)

That's why Metroid that the political leaning of the magazine The Economist is not so bad compared to the Chinese Communist Party. 

The governments can marginalized decentralized cryptos but yea in the future I am pretty sure there will be centralized cryptos ((CBDC)) and decentralized cryptos, I think both will coexist, at least in liberal countries like Canada and the US.

Hey The Economist is my favorite magazine hehe yea they support radical centrism, favouring policies and governments that maintain centrist politics but their journalistic investigations are very good.

You know USA could also go to war against China to defend Taiwan sovereignty and their semi-conductor industry.... I don't think it will happen

Nevertheless, I do believe in Black Swan, do you?
https://en.wikipedia.org/wiki/Black_swan_theory

One government no, many governments yes, a chain reaction can kill cryptocoins very fast, look at what china have done to big mining farms, yes we still have small miners in china but that very risky, if the chinese gov get them doing it, who knows what will happen to them, no human rights in that place. They can kill anybody they want.

What power does the government have over crypto? Do you think gov can make money out of CBDC? They are stable coins and don't be surprised that even the government invested in BTC too, CBDC won't do shit than to represent Fiat that's all.

No i see max 500-700$ if they push 400$

I would stay away from The Economist, that magazine has become very political sided and that is not good, anyway, if you look in the past you will see that the pattern has always been the same, meaning that manipulation is clearly visible, after more than 2 years they wanted to take cryptocoins up again and once again steal money from the sheeps, just like 2011, 2014 and 2018, so far nothing changed and right now I'm waiting it to go up and then to crash very very hard, that is how I see at moment.

I might be wrong but I always argue with my friend who says he is a hustler in the sense that he likes to take big bets on Bitcoin based on the patterns we can find on the Bitcoin charts with the technical tools to predict its price.

I must admit that we can make good bets on BTC or ETH prices with chart analysis but the problem is that Ethereum is a game changer and revolutionize societies in a lot of ways so past performance is no guarantee of future results.

Just to make a broad statement, cryptocurrencies are now too much mainstream to have such a drop. More and more corporations start to invest their free liquidity in cryptos. The America's Securities and Exchange Commission (SEC) sets its sights on the crypto "Wild West". Gary Gensler head of the SEC said that he will seek tougher policing of the crypto-sphere, which he described as "ride with fraud, scams and abuse".

My point is that politicians and people with power and money start to worry about cryptos. We have reached a new level, it's not the Bitcoin and Ethereum markets we knew just few years ago.

Look at all the big banks around the world now offering crypto investment products because people are asking for it.

IMHO, too often people on this forum are referring to the past to predict cryptocurrency prices. The past is valuable for price predictions but it's just one piece of the whole picture.

I have been reading the magazine The Economist every week for years now and they normally had one article every one or two month covering the crypto world, now it's almost in every publications. The latest one they have 3 articles relating to cryptos. It is now part of the global economy, it was not the case yesterday (in the recent past).

Since 2010, cryptocoins have been in cycles, 98% of those coins that have been created are dead and just few are still around. There are many issues that can kill eth off the bat, reason i always say do not go all in. Nobody thought eth could crash from 1400 usd to 80 usd as well, not even I believed such thing in 2018, yes I knew it would crash but not that magnitude, my target was 250 usd and it crashed to 80 usd. So eth crashed from top to bottom 18 times, 80 x 18 = 1440 usd. So if eth crashed right now 18 times that would be 3300 / 18 = 183 usd, my target still around 250 usd flash crash.

ETH price going down at $1,000 is not impossible but unlikely to happen.

For the last weeks I started to study the programming language of Ethereum which is Solidity and how smart contracts work and how to build them. More I understand the details behind the ETH blockchain technology more I am amazed by its future potential.

Unless of a big disrupt event (black swan theory) or a new unexpected breakthrough technology, I think Ethereum is the future in the crypto world and could worth more than $100,000.

Furthermore, this opinion doesn't have much weigh but I studied quantum physics for 2 years at university so I had to study calculus and I was really interesting with some mathematicians who revolutionized their fields. And after listening and reading few articles and videos of Vitalik Buterin I strongly think that he is a real genius at the same level of Isaac Newton who invented calculus in the 17th century (calculus is now used in almost all branches of science, that divine concept of using infinity to calculate the instantaneous rate of change at a specific moment or the area under a curve).

So Vitalik Buterin is just 27 years old plus he is the voice behind the most active crypto developers community in the world. I am confident that Ethereum will continue to innovate. They already took a part of the Finance world (DeFi), now the Art world (NFT) what next?

Personally, I started to invest to run a validator node on ETH I think this is where miners should head slowly. I still continue to buy new RTX 3070 because even if ETH is not minable anymore after The Merge there will be other coins to mine (RavenCoin, EthereumClassic, Ergo etc) but I prepare for later because Ethereum will most probably continue to bloom.

My advice to all crypto miners to keep swapping their ETH for USDT cos the Reason why mining ETH is still fair enough is because of high price presently, many said that the hardfork has no impact on ETH when they will know the difference once ETH goes down to 1000$

I don't speculate on the price of ETH or BTC but I have a friend who does it and he is looking at the cryptos in USD on its charts. Maybe I am wrong but for Canadians we don't look much on the ETH/CAD or BTC/CAD when we trade, we use more USD to establish supports and resistances.

The resistances you talk for instance $100,000 CAD, I am wondering if there's a lot of Europeans or Australians or Canadians who speculate or do price projections of the crypto prices in their currencies? I think around the world we look more at the cryptos in USD price.

I personally never look at ETH in CAD price except when I convert it from ETH to CAD from my mining.

I mean I might be wrong but even if there's a lot of Canadians who's looking to take profit around $100,000 CAD, we only have a population of 37.59 million in Canada we are a small country in terms of number of people. Big Canadian Hedge Funds or Institutions will monitor the crypto prices in USD for sure. Maybe it's a different story in Europe but not for Australia (25.36 million).

Funny, you said the same thing last time, not sure if I can find your reply few months ago.

Edit, found, it was not hard, just had to look "79k" and i had many results ehhe, posted on 26 february 2021.

https://bitcointalksearch.org/topic/m.56440969

I vaguely recall that you mentioned your $79K prediction a few months back, wondering why you chose $79K exactly. Before we topped at $64K and bottomed at $28K I assumed that BTC would most likely peak at somewhere $100K in AUD and CAD currencies. When BTC hit $50K euro the BTCEUR had major resistant in that area because there was tons of sell orders at exactly EUR 50K, so much that it created a huge arb opportunity. Most likely with AUD and CAD the same will happen.

Currently $100,000 CAD is around $79K USD and $100,000 AUD is around $74K USD. Sure they are low volume fiat currencies however, I am thinking that $100K is the magic number where many people want to take profit OR at least partial profits and will be tough to crack.

It's a possible scenario but predictions are very difficult to make especially in such advanced technological market. A lot of people including Vitalik are talking about decentralized social media. Vitalik also believes that Ethereum might eventually return to its original objective which is more to be a technology for public goods instead of being used mainly for money purposes like DeFi apps.

So the future is pretty unpredictable especially because we might see new game changers from the crypto world. The past is certainly not a good indication for the future!

Funny, in a month or so you will praise the dollar value you had instead of the eth value you were getting, make sure to sell when the time comes because this is the last chance to sell eth high, thank me later.

It is not possible to earn more! do not confuse more money and more ETH

I can say that since the update we earn much less and it is not over because the price is high

On one of my farms I was doing 0.6ETH, I'm at 0.5ETH on average..I lose 0.1 ETH and I'm watching the stats, the difficulty has dropped and we lost a lot of ETH / days, that's only At the beginning, I think that in September many will start to go on other more promising crypto like ravecoin, classic ethereum and some shitcoin like ergo ^^

So yes you always win the same amount in dollars but not the same number of ETH tokens

I am doing RVN, ETC and ETH and I am wondering if this is not the time to complete ETH switch and go make more crypto?

10k eth is bs right now, in 5 years maybe but that is a billion dollar question because for all we know cryptocoins might get killed by govs around the world, we never know, gov digital coins are coming and that will be huge. I'm betting eth at 5k to 7k and then start crashing to hehell, I will sell my eth 5k or over, I will stop loss eth at 5k and if goes up to more than 6k then i will stop loss at 6k and so on but i will stop loss it and this time I will not miss my 30% on eth to sell high like i did missed to sell my 20% i had left in 2018, everything will go this time, i will be 100% in fiat.

My btc prediction of 79k still stands, the 100k btc is for the next bullrun not now if even we have a next bullrun in few years, we never know. About crashing, eth flash crash will be 300 - 500 usd and btc below 9k - 20k. I guess rebuying back at those ranges if people think long term will not be bad, pain will be if people buy now and think long term, people will lose a lot.

One thing is certain, history will repeat itself and all the cryptocoin will crash to hehell, 90 to 99% is my crash range for most coins, and then people will say again btc is dead ehhe

Yeah nobody will want to buy btc at 15k and will be left there for years, it has always been like that.

This is the last opportunity for thieves to steal money from idiots and they will make people believe this will keep going up until in few hours it crashes 50% and then 2 weeks or a month later it crashes 40% more eheh

I don't know what price ETH might hit, however I have a feeling that ETHBTC will hit something like 0.10 ETHBTC and then it'll start to tank. When it starts to tank all the money will flow back into BTC and then BTC might top out at like $50-55K or so.

Lately too many people are getting bullish and thinking we are going to get $10K ETH and $250K BTC. Most likely somewhere in the $50-55K area we might get a failed high and then we will consolidate before heading lower. I have a feeling that Saylor guy is going to start taking profits in that area since he almost lost his shirt last time it hit $28K.

Could be and want to be wrong however I still think we might revisit $20K one day, even a little lower. And ultimate buy will be at 200 WMA which is like $14K-15K or so. Everybody will want to buy BTC at $64K but nobody will want to buy at $15K.

Hooo yea! We are presently August 7, 2021 3:55 PM Easter time and ETH price is at $3,047.89!!!
Personally since EIP 1559 I have been making a little more money maybe around 5% increase in my daily revenue. I use HiveOS, T-Rex miner and Hiveon pool and have only GTX 1660 super and RTX 3070 (no LHR) GPUs. Son of a Tech said that only Hiveon pool didn't change their rules and most propably they will win good part of the market in the upcoming days. It's because Hiveon pool makes money from its mining platform HiveOS not from its mining pool like others.

My strategy with the ETH I receive from my mining is that I convert them into Canadian dollars right away and invest 20% in the ETF QYLD which pays around 1% on every dollar invested every month. The remaining 80% I pay my bills which include buying new GPUs and gears. With that strategy it's easy I simply mine the most profitable coin which is always ETH (except for short periods of time other altcoins are more profitable but it never last).

I will soon stake 16 ETH in Rocket Pool smart contract to run a node validator because on the long run I don't think Ethereum ecosystem will get dethroned, the community and fundations is simply too revolutionnary and Vitalik Buterin is a genius like Isaac Newton when he invented calculus in the 17th century and people back then didn't realized all the implications (calculus is now used in almost all science branches). I am a big fan of Vitalik. I think Ethereum blockchain is as huge as the discovery of calculus in terms of game changer for societies.

On the other side, the minable altcoins with GPUs are now investment vehicles and in my opinion they are here to stay so I am pretty confident after ETH 2.0 it will still be profitable to mine altcoins with GPUs but I am pretty sure it won't be as profitable as it is now with the revolutionary Ethereum ecosystem.

Like the NFTs, people wants more and more investment products. Have you seen on opensea.io, there's like one NFT digital art transferred (bought/sold) every what 10 seconds in average, it's insane. People likes to buy in hope of a capital gain in the future. Capitalism at its purest form, check this out:
https://opensea.io/activity

It depends on many things, if is a trusted pool then 0.5 or 1 eth is no problem at all.

I just saw that happening so I immediately switch to 0.025 ETH payout frequency,I like to have a payout very often so no problem if I pay 4 USD for 0.05 ETH for the moment.Plus I think the fees will go down eventually after a few days once everything is clear.

I believe thieves will take it to 5k and then crash to hehell but yeah you can always do that, I will use stop loss after eth hit 5k, I will leave that at 5k if it hits it hits if not and it keeps going up like 6k then i will put stop loss at 6k and then keep until it crashes and my stop loss hits. This is the last time wolves have to steal blood/money from sheeps. So eth 5k is possible, I'm thinking of stop loss it at 4.5k, maybe eth will hit 4.999 usd and then crash to hehell.

Hi Metroid i found better way to keep coins and money safe. There is stop limit on exchanges. Eth now at 3k which sound very nice but it is always wise put stop limit at 2.7-2.8k. if price goes up you also go up with stop limit.

1st i thought 0.01ETH was good but you are paying every time fees. It is better withdraw big amounts paying fee ones. For example each time you withdraw 0.01ETH you are paying 2$ for fee. if you withdraw 5 times it makes 10$. So it is better withdraw like 0.05 or 0.1ETH and pay only 2$. Did i correctly understood this new Buterins masterpiece work?

Agreed, anybody buying now must be insane, time to buy is over a long time ago, this is a huge trap before hehell, gpus might rise a bit now but then will crash very fast later on as the coins will be sank to the floor.

About mining, do not buy gpus now, that will give you a false expectation, cause you think your roi will be 300 days and you will find out that 300 days will become 3000 days, so mine and sell, i'm not selling now because I believe thieves will take eth to 5k and i will sell around that.

One last thing, if you people have gpus and electricity price higher than 0.05 kwh usd, better to sell those gpus right now or wait a little bit, cause once the bear market hits you will have to sell those gpus very cheap or mine at loss for at least 24 months.

It is still much better to mine Ethereum,I received the payout yesterday that I had accumulated at Ethermine and today I receive another one now that they lowered the payout to 0.01 ETH from 0.10 which was until yesterday afternoon.I too am not crazy to buy crypto at such prices,I like a whole lot more to generate it,in the good timings like this one and even in the worst timing (ETH 1500 USD) I am still happy to generate it,I pay normal electricity rates and with 300 Mhsh I make about 600 USD net profit monthly but I think is some more now with almost 3000 USD Ethereum price.

Thieves are spreading mining will end soon and eth 2.0 is coming soon and that is pure fake news and bs, as soon as thieves hit a price they want and they start dumping all their eth and eth crashes fast overnight then they suddenly they stop spreading the bs, mining will end only in 2.5 to 4 years, anything else is pure bs and fake.

Funny, they always start the bs as soon as they start buying it a lot in order to make idiots buying after them, I hold a lot of eth 30% my full capital but I'm not falling to their bs, I will sell high, not crazy to buy eth now or any other coin.

If you want to see how the difficulty bomb worked in the past look at, https://etherscan.io/chart/blocktime

You can see that it got activated sometime in April 2017 and every few weeks kept increasing and increasing. The miners were coming online because price was going higher and higher however they still couldn't keep the blocktime near 15 seconds. So it kept increasing all the way up to 30 seconds in later 2017 until they finally did a hard fork and the block times were back to normal.

So as you can see its not instant but every 2 weeks or so, it increases the difficulty more and more and as time goes on, it goes up exponentially higher as you can see.

The difficulty bomb does not start working immediately, and the time it takes to mine the block increases gradually.
Even if the developers do not have time to change the algorithm in December, then nothing serious will happen until January or February.
But many miners are confident that this will happen in the next 5-8 months.

So, do u think ETH mining will not end on december???

ergo/rvn/cfx being pumped, maybe because of the eth hardfork?

im seeing roughly 12-15% less earnings on ethermine so far.  early days for average estimate but yeah looking negative for us miners : ( 

The difference in profitability will take a few days to find out how they are affected because a number of factors come into play.

For example, lately due to ETH surging and NFTs popularity the gas fees are higher. They used to be like 10 Gwei and now are usually at least >50 Gwei. So your profitability is higher however due to the coin burn, its slightly less.

Another issue is that it matters what the gas fees are. If they are crazy high like >150 Gwei the coin burn will have a larger affect than when they are smaller such as 10 Gwei. So you need to mine for a few weeks first and see how the profitability changes overall.

you can monitor what is going on here:

https://www.etherchain.org/burn

being on Ethermine, I'm also observing a decrease in profitability. was something like 0.00540 or .00520eth/day (Ethermine estimation) and now it is at .00497.
not a lot and maybe not a precise monitoring of eip1559's effects but if it stays like that it's okay. in all cases we can do nothing just hope it won't worsen.

I haven’t noticed a drop in profit in the statistics either. Today there was a very high price for Gas, perhaps this influenced the profit, commissions in blocks reached 8 Ethereums.
I don't understand how to calculate what percentage of commissions are burned in each block.
But if the commissions decrease, then this will affect the profit.

I got from 0.0082 to 0.0076 but I don't know if that is 16%,it looks a bit less to me but what is important is that it started to reduce a bit the mining rewards as it was expected by many.Ethereum network difficulty seems to be a bit lower from 7.79 to 7.52 P which means some miners have already switched to some other algorithm.Meanwhile the increase in price for Ethereum makes up for the small reduced mining rewards so for me nothing has really changed as of yet except that burned ETH is in about 10.000 dollars a minute in fees with this update.

Just go to some pools and look at the value of the block( Mev included)  and compare to the average of the last 3 days ?

Precise ? Not. Good guess if the sample is big enough ? yes.
In fact i came here to see if someone had a better method.
Beside minerstat Nicehash 2 criptocalc that I think will start becoming affordable after 24 hour

How did u get 16%? I am curious to know.

Aniway, if someone (else) is coming here for info and not conjecture:

Average reduction in miners revenue after some hour seem to be around 16 %

Yeah, eth 2.0 pos fork will come next bullrun in 2.5 to 4 years, eth will crash 95%, back to 300 usd then will rise to 5k around 2024. I'm hoping thieves will take eth to 5k now, that is the price I will sell.

Do you read my post? Why should the difficulty increase when they released an update against increasing the difficulty (EIP 3554)? And yes London Hardfork is live, and as i predicted, it has no real impact on the actually income.  

So is this hard fork already implemented now?I don't see a increase in difficulty as of now,with 300 Mhsh I could do 0.0082-0.0084 and I see it is still the same in online calculators also in Ethermine stays almost like the calculators.If it is already implemented it seems that mining reward is not affected at all at least until now.

ETH Pow stop when ETH2.0 is released, so in maybe 2 years for real!!!!!! If someone believe this will come at the beginning of 2022, then you also believe that santa claus is real

Read the ETH roadmap and add 1 or 2 years for every milestone

Will this stop pow algorithm? I don't think that Ethereum will exclude the pow algorithm any time soon that's why they try fixing the high gas fee first and this can even make ETH price surge while making the mining reward grows higher too

Dude EIP 3554 come today with the London Hardfork and it will delay the difficulty bomb to december, so this is quite good update. The name says diffi bomb delay

I worry more about the eip 3554 on december than this update today

If this EIP really happen on december the ETH mining will be over..

Ok, we have other alt coins to mining.. but.. all eth mining going to other much smaller market… will it work??

Don't worry much about that,this upgrade should not affect that much the mining reward,in fact many thinks it will only affect them a little so we should be alright.We have to see the next few days what those rewards will be and what the price of Ethereum will be and then we can make our conclusions and calculation where to go next if the profitability falls a lot which I doubt will be the case.

We all good mate as long as eth keeps its price above 1.7k

This hardfork is making me scared and excited at the same time as I just invested in some GPUs and I'm still looking forward to get some returns back before we head for the real bear market but I think that's not going to be the case

Usually these events are buy the rumor and sell the news. Usually there is a run up to the hard fork and makes a lot of people FOMO because they think the upgrades are something significant which will change ETH in a big way so they buy because they see price going up and don’t want to miss out.

Then the hard fork happens and usually price stalls and then starts to head back down again. I think this is what will most likely happen. We are still in Summer where volumes are low and I think we will keep ranging until perhaps September sometime.

So be careful longing ETH at these levels. Most likely the hard fork is already priced in. Less than 8 hours to go.

https://etherscan.io/chart/hashrate
If you look at this hashrate graph, you can see that Chinese miners have begun to connect again from other countries.
Today there will be an event that all miners did not want to see.
The profit will fall for these two reasons if the price does not rise again.
In a few days we will have new profit statistics.

I will recommend put stop loss at 2600-2700. my max prediction is 3k. anyway i told before this time my target was 2.7-3k. lets see if eth can stay there for 2 weeks.

a month or so from this fork eth will crash a lot, eth had a fork on november to december in 2017 and then after that hit the peak and then crashed 60% in february 2018 and then few months after that, it crashed 35% more, i see the same story here. Do not miss the chance to sell high for the last time trolls, after the peak, hehell for the next 3 years or so.

Today it`s just -20% profit. When it was 4-5 ETH in a block - it was serious damage but today... You can loose more just with the price change.
After EIP may change GPU prices, it will be more interesting as for me.

Just want to point out to be careful with those LHR as there are version 1 which only Eth mining is affected and it will work well in kawpow but there is also version 2 as of lately where they have limited the hash rate in most of the well known algorithms that are mineable.I hope you are right about the ETH price,that would lead me to easily buy more GPU-s and increase my 300 Mhsh power to 500 I am hoping and looking forward to that.

My preps are simple, i`ll buy next GPU tomorow, not today
At my place, 3060Ti LHR has twice better ROI than any other GPU - mining kawpow.
ETH is not the only one to mine.
But, there need to be said after...
In my opinion, price of ETH will explode after. If not, lots of GPU`s will change thier destination.

It was meant for today but devs have postponed it a day later on August 5th.I see the price staying at positive levels compared to Bitcoin which is going down and I think this is the reason for that however in many news I read it looks like many people are selling Ethereum.What are you guys doing and what are your preparations for this event?Personally I am stuck at mining as always and I do not see this event as a game changer but I want to hear some other views and opinions here.