Topic: Ethereum mining still profitable? - page 22. (Read 131200 times)

Quote from: Tacalt on July 06, 2016, 04:07:42 AM

ETH will go PoS, and then it'll be only the rich deciding things anyways.

word. I dont get the pos shit, sure it solves the insane energy requirements but at what cost? Back to the top 1% running the world?

We can all buy some Ethereum so that the top rich will not have more than 50% of the total voting power.

In this world the 1% super rich controls 80-90% of the wealth. They can manipulate almost everything.

@Auponef I was making coments like that on forum.ethereum.org 4 months ago and they all got took down. Conformation by action.
roll on Global Insurrection Against Banker Occupation.

Auponef

full member

Activity: 236

Merit: 100

Quote from: Corsa1r on July 05, 2016, 05:18:24 PM

Quote from: Corsa1r on July 05, 2016, 05:18:24 PM

ETH will go PoS, and then it'll be only the rich deciding things anyways.

word. I dont get the pos shit, sure it solves the insane energy requirements but at what cost? Back to the top 1% running the world?

We can all buy some Ethereum so that the top rich will not have more than 50% of the total voting power.

In this world the 1% super rich controls 80-90% of the wealth. They can manipulate almost everything.

Tacalt

sr. member

Activity: 294

Merit: 250

ETH will go PoS, and then it'll be only the rich deciding things anyways.

word. I dont get the pos shit, sure it solves the insane energy requirements but at what cost? Back to the top 1% running the world?

We can all buy some Ethereum so that the top rich will not have more than 50% of the total voting power.

Corsa1r

member

Activity: 89

Merit: 10

Quote from: parmatiya on July 05, 2016, 06:55:37 AM

ETH will go PoS, and then it'll be only the rich deciding things anyways.

word. I dont get the pos shit, sure it solves the insane energy requirements but at what cost? Back to the top 1% running the world?

fracorcled

newbie

Activity: 27

Merit: 0

Quote from: Bokelka on July 05, 2016, 02:32:52 AM

Quote from: limbaugh on July 05, 2016, 12:36:13 AM

Quote from: Bokelka on July 05, 2016, 02:32:52 AM

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

It's not the same. Bitcoin's blockchain is owned by China ASIC manufacturers. ETH PoW is available to anyone and uses off the shelf hardware. As long as it stays that way ETH will be as close to decentralization as it gets.

Ethereum mining is more decentralised than the bitcoin mining. But it will gradually centralise in cheap energy places.

That will happen to any PoW coins including bitcoin and the Ethereum. The cost of mining determines that.

I heard there are quite a few bitcoin farms in Iceland. The cost of electricity there is very cheap. The labor is more expensive.

parmatiya

full member

Activity: 239

Merit: 250

Quote from: limbaugh on July 05, 2016, 12:36:13 AM

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

It's not the same. Bitcoin's blockchain is owned by China ASIC manufacturers. ETH PoW is available to anyone and uses off the shelf hardware. As long as it stays that way ETH will be as close to decentralization as it gets.

Ethereum mining is more decentralised than the bitcoin mining. But it will gradually centralise in cheap energy places.

That will happen to any PoW coins including bitcoin and the Ethereum. The cost of mining determines that.

Wolf0

member

Activity: 81

Merit: 1002

It was only the wind.

Quote from: limbaugh on July 05, 2016, 12:36:13 AM

There wont be any forks...I don't believe any change to asic's either...If you tell gpu miners your all done if you don't go out and buy asic's that coin will die. For this coin to stay on the road to the moon it must remain a gpu coin and unforked...

That's why BTC is dead today. Oh, wait...

4 China-based mining oligarchies control 70% of the Bitcoin network and 100% of ASIC production, this sounds great! Oh, wait...

PoW's endgame is centralization. Get used to it.

Bokelka

sr. member

Activity: 242

Merit: 250

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

It's not the same. Bitcoin's blockchain is owned by China ASIC manufacturers. ETH PoW is available to anyone and uses off the shelf hardware. As long as it stays that way ETH will be as close to decentralization as it gets.

Ethereum mining is more decentralised than the bitcoin mining. But it will gradually centralise in cheap energy places.

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Auponef on July 04, 2016, 03:13:59 PM

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

It's not the same. Bitcoin's blockchain is owned by China ASIC manufacturers. ETH PoW is available to anyone and uses off the shelf hardware. As long as it stays that way ETH will be as close to decentralization as it gets.

Bokelka

sr. member

Activity: 242

Merit: 250

Quote from: raskill on July 02, 2016, 12:33:37 AM

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

Crypto is centralized where the few decide the fate of the many, decentralization is an illusion.

So we need more pools. I wish most pools are honest and can attract more users and distribute them.

Ideally, we need hundreds of pools and the miners are also well distributed. I heard there are some solo mine coins.

Wolf0

member

Activity: 81

Merit: 1002

It was only the wind.

Ugh Wolf there was no King in place at the time of bitcoin's. Now there is a king and to stand on his playground you have to compete on a level in which he has a 6 year head start. Forget it and accept the lessor crown...

Okay, X11 isn't dead, either.

Auponef

full member

Activity: 236

Merit: 100

Quote from: RoseMann on July 04, 2016, 01:47:59 PM

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

Crypto is centralized where the few decide the fate of the many, decentralization is an illusion.

So we need more pools. I wish most pools are honest and can attract more users and distribute them.

Tmdz

hero member

Activity: 1008

Merit: 1000

GPU or ASIC...it makes no difference once the farms start mining. In Ethereum it only takes 3 of the major pools to make decisions on a specific fork for the entire network.

Bitcoin is same.

Crypto is centralized where the few decide the fate of the many, decentralization is an illusion.

socks435

legendary

Activity: 2016

Merit: 1030

Privacy is always important

Quote from: d57heinz on July 04, 2016, 08:03:26 AM

Quote from: Wolf0 on July 03, 2016, 04:02:21 PM

Quote from: RoseMann on July 04, 2016, 01:47:59 PM

There wont be any forks...I don't believe any change to asic's either...If you tell gpu miners your all done if you don't go out and buy asic's that coin will die. For this coin to stay on the road to the moon it must remain a gpu coin and unforked...

That's why BTC is dead today. Oh, wait...

4 China-based mining oligarchies control 70% of the Bitcoin network and 100% of ASIC production, this sounds great! Oh, wait...

PoW's endgame is centralization. Get used to it.

Your exactly right. Only way to be decentralized is if we all have access to equal resources. Power asics cheap labor etc. since that isnt the case what is the point of all this again. For me its get what I can while I can because I see this all comin down in a ball of fire! Great experiment but will have to do better next time!

The more I ponder the more I realize why satoshi left and doesn't want to be known. I imagine if this does go belly up. He won't be too popular!

Best regards
D57heinz

Compared to Ethereum, bitcoin is much simplier. If there is anything wrong with bitcoin, we should know it several years ago.

There is no wrong with bitcoin and i think bitcoin still the best to choose than choosing altcoin ethereum because the movement price of bitcoin is fast .
Ethereim is profitable if you have a good GPU mining.

Tacalt

sr. member

Activity: 294

Merit: 250

Quote from: d57heinz on July 04, 2016, 08:03:26 AM

Quote from: Wolf0 on July 03, 2016, 04:02:21 PM

There wont be any forks...I don't believe any change to asic's either...If you tell gpu miners your all done if you don't go out and buy asic's that coin will die. For this coin to stay on the road to the moon it must remain a gpu coin and unforked...

That's why BTC is dead today. Oh, wait...

4 China-based mining oligarchies control 70% of the Bitcoin network and 100% of ASIC production, this sounds great! Oh, wait...

PoW's endgame is centralization. Get used to it.

Your exactly right. Only way to be decentralized is if we all have access to equal resources. Power asics cheap labor etc. since that isnt the case what is the point of all this again. For me its get what I can while I can because I see this all comin down in a ball of fire! Great experiment but will have to do better next time!

The more I ponder the more I realize why satoshi left and doesn't want to be known. I imagine if this does go belly up. He won't be too popular!

Best regards
D57heinz

Compared to Ethereum, bitcoin is much simplier. If there is anything wrong with bitcoin, we should know it several years ago.

That is right. The Ethereum is too complex. It is still quite new. I think there will be more bugs to be found.

Wolf0

member

Activity: 81

Merit: 1002

It was only the wind.

Quote from: d57heinz on July 04, 2016, 08:03:26 AM

There wont be any forks...I don't believe any change to asic's either...If you tell gpu miners your all done if you don't go out and buy asic's that coin will die. For this coin to stay on the road to the moon it must remain a gpu coin and unforked...

That's why BTC is dead today. Oh, wait...

RoseMann

sr. member

Activity: 270

Merit: 250

Quote from: Wolf0 on July 03, 2016, 04:02:21 PM