Topic: Ethereum Reduces Block Reward | ETH GPU Mining Will No Longer Be Profitable (Read 8775 times)

yeah it was epic , some of the main dev leads are proposing that progpow could be launced way before next year as a parallel release even to constantinople!!

the asked some great questions of the idefelse team and got great responses the main questions were:

-do you have any documentation on how progpow works and a good explanation of how it puports to be asic resistant
-can you update the progpow eip with coding specific stuff so other devs can easily implement it without having to ask basic type tech questions on the forums.
- details on how much of the bandwidth, of the gpus the algo is using , again more documentation and selling point stuff, so its easier to see how much of the gpu it uses vs other algos
-help creating a test chain that can be used to test and benchmark the miner over 30k blocks vs the current low diff 5 block unit tests they have now to see how the miner performs after diff goes up.
-a few other technical questions that the progpow team promised to provide bettter detail on.

the progpow team was great and the agreed to provide all these things in a week or so, the also provided links to a geth impementation of prog pow that still has some bugs related to cpu mining. but the geth ethereum dev PAVEL  said he could tackle all that for them when his technical questions were updated on the eip.

from all i saw and heard the eth dev team was pretty much positive they could get progpow done maybe even this year since its a mining change not a protocol change , the main thing is verification that it uses more of the gpu and also that math calculation that forced asics to be flexible enough to handle its changes per epoch and thus makes asics have to be full fledged gpus is secure i.e. this is the cryptographic part of the algo so they felt it needs more details explaining what its doing.

one huge thing i noted is the moderator said the eth dev team is actually in conversation with AMD and NIVIDIA
regarding progpow similarly to how the Ifdefelse(progpow) team reached out to Nividia to verify thier work as well
so I expect they will get the thumbs up.

I think progpow will happen this year if kristy and her team live up to thier end and deliver what was asked, and it makes sense for them to want to since the are gpu hardware and software devs: the need progpow to gain adoption just as much as miners.

Vb said nothing as usual, droped early.

Oh yeah there was mention of your hated BCI , they discussed how its running the progpow algo

anyone watch the latest dev livestream? I haven't had the chance to yet but naturally interested in if any of this info changed

Not at the beginning, but after few weeks to months it does, bitcoin is a very good example, is only worth what is at moment because difficulty makes that to happen, for example cut the difficulty in half, bitcoin miners will get 100% more profit, traders see that and see we are in a bear market, so bitcoin would be 3500 usd right now instead of almost $7k, now when we are in bull market then multiply that to 10 to 50 times. Difficulty, market price and how much miners are getting are all correlated given bear or bull market.


Correct, at the beginning and then they slowly turn off their hardware as difficulty rises.


Also at the beginning, but many things are correlated to others, will they sell those coins for money or not? if they do then they will get much more money for a short amount of time and that will be gone cause the difficulty will tell them, hey if you sell right now you are doing it wrong cause cost is still high and profit is not but after few weeks to months, price will increase again to compensate the rise in difficulty.


XMR at moment and it has been for a while the best coin to mine and support if you have a gpu. ETH network hashrate is crowded with asics since October last year, 60 to 70% of miners are asics, eth devs dont want to reveal the truth cause probably they were bribed or threatened by asics companies.

Exactly they will always be know as the 1st , no one will be able to take that away from them, so I and a few others at least threw some rigs thier way to support the network.

Even through I cant make any money from mining it I still mine BCI because as GPU miners we have to take a stand not just with our mouths with our RIGS!  , putting one or three rig towards a progPOW
coin can be done by pretty much most of the miners on this forum. One rig makes $5 a day for gods sake its not going to make or break you lol.

 ASIC makers will keep sticking to us because we ourselves have no dignity and ability to say forget the quick profit for once, lets actually
do something that HELPS build our own Ecosystem instead of letting them run circles around us while the laugh at us.

Gave you some merit, this guy gets it.

Any miner with half a brain will stop mining ETH , mine XMR or a progPow coins till more coins switch over , that way all the stupid games that hidden asics makers are playing will be seen

True, obviously when a new piece of hardware releases the diff spikes. But I don't recall it ever causing much of a price difference. As far as I can tell all it does is cut out weak players from getting their slice of the pie. If anything newer efficient hardware would more likely drop the price as it increases the diff because these new miners can afford to sell it for less and still take a profit.

Hey you dont have the s9, cause if you had the top contender then you would still get something back from using it. What determines if is profitable or not correlated to price is the top miner. If your statement  was true then we could say the amd 280x would still be making money, see my point your a9 is pretty much in an identical situation as hd 280x owners. As soon this miner hits e3 will not be profitable anymore cause it will not be the top released eth asic.

Anyway, bitmain like i said many times, released the e3 just to cover up the f3, e3 180mhs for the peasants and the good gddr5 1500 mhs f3 for them. Think bitmain would give you the top miner? hehe

And now you think, why this company wants to release 1400 mhs --> its old xxnm tech and they are probably just clearing up their inventory for 7nm gddr6, new ones like the g3 in development are already doing almost 10000 mhs

Also do you trolls know why the eth hashrate is not going down as much as it should be? asics, gpu miners are turning off and bitmain and co see 10% decrease then go there and add few more eth asics and difficulty increases again eheh and you trolls think gpu miners are mining at loss but in truth they have turned their gpus off, 100 gpus are turned off, bitmain add one f3 to the network hehe, bitmain is compensating for any eth network hashrate loss at moment, that is what we call camouflage the hashrate.

Gotta say I disagree with this statement. I have an antminer A9 sitting there collecting dust because it would be losing like $3/day if plugged in. Most people who trade don't even mine and therefore don't give a shit what the diff is. In my experience the price seems to influence the difficulty much more than the difficulty influences the price.

Maybe they are speeding up pre sales before being blocked.

https://www.coindesk.com/ethereums-asic-rebellion-heats-up-with-new-effort-to-brick-big-miners/

well, last call to dump my rx470/570 4gbs I guess lol

did relatively confirmed numbers ever surface for the f3?

g3 going to be gpu packed like the g2?


Yeah their fake ignorance is ridiculous

It does, nobody will mine for peanuts or at loss other than the ones who support the coin itself and dont forget eth is the altcoin king at moment, all other altcoins follow it.

high diff doesn't meant that price will follow

This is actually a good thing, other companies showing their ethash asics is a very good thing cause now eth devs have no excuses if powerful asics exist for ethash, although eth devs already knew there are very powerful asics, namely f3, and the new g3 in development from bitmain. Also with these powerful asics being announced it means that the difficult will rise 5 to 10x in few months and price will follow.

those fucking ASIC manufacturers will kill the whole crypto miming sphere and GPU mining too.
ETC developers are already bribed by ASIC manufacturers?

enjoy
https://www.coindesk.com/a-new-line-of-powerful-asic-miners-is-coming-to-ethereum/


this probably just matches the F3 that Bitmain and their top partners are mining with in secret , I would bet my bottom dollar that when this new Asic launches Bitmain will miraculously launch the
F3 branded under a different name of course lol and you idiots will lap up their scraps again.

The whole thing is hilarious to be honest.

Instead of banding together and support coins like BCI, and EXPANSE ( they are launching progpow on test-net now)  these hires bitmain shills start going off topic

"Um what does the coin DOOOO"  WTF does bitcoin DO , or 80% of the fucking coins out here ?  that's the dumbest argument I have every hear.

OK I'll bite though :

-Its the First coin to truly combat ASICS with the ProgPOW algoritiom
-Its the first coin to work directly with the Minority group who are FPGA and mining software designers , remember the FREE the eth pill ? yeah them.
-It serves as a store of value ( yes just like fucking bitcoin and every other coin out there)
-It provides interest payments to Holders , via a web app or wallet staking
-It is one of very few coins (XMR, EXP) committed and I mean COMMITTED to battling the ASIC plague that is destroying the decentralized nature of crypto and putting up pay walls simialr to existing finacial industry.

I could go on but I'm done with you shills

60 posts and you're an expert on crypto ok buddy lol

I agree the ASIC adoption by all these bastards is crazy.

I'm not upset about the block reward reduction, it seems sort of centralized -- however that is a different discussion

I'm upset along w/ most other miners because "asic-resistant" was a lie for most projects. It is obviously implied that asic resistance is a stance -- not a well we are asic resistant until we are not. So the #2 crypto that rolled back their blockchain once already for a huge stain on their record, now essentially lied about asic resistance.

If anyone does not understand how that claim from many cryptocurrencies has not been proven to be incredibly bullshit this year, I don't know what else to tell you.
Zooko w/ ZEC has really exemplified this with his statements and actions as all of the public equihash ASICs rolled out.

Profits are disappointing across the board, but what is the hardest to stomach is all of the bullshit that has been exposed this year.

Anyway without going on and on, the argument is less about block reward / earnings and more about asic miners.

Hash rate doubling means absolutely nothing on a coin that literally just forked. I've heard all I need to at this point, I'm pretty much now convinced you have no idea what you're talking about. You even yourself admitted you don't know what progpow solves but blindly drink the cool-aid. Even after I told you I did my homework and didn't find many answers you again just say "Do your own research". You're really not helping your case buddy.