Topic: Future of ETH mining (Read 437 times)
Vitalik should just accept things the way it is, ETH can forever be a PoW coin and still do lots of great things, leave the gas fee thing for other small projects ETH cant be perfect 👌, if people want PoS just create a farming APY shit aside for ETH only.
Because Ethereum has gotten just way too complex and there are bugs everywhere pretty much. Not surprised they run into issues with that. Look at all these smart contracts that keep getting hacked and drained every few weeks pretty much.
It’s because they are very complex, have tons of bugs and most are undiscovered yet and basically it’s risky keeping large amounts of your money in them. There is a dev call I think in a couple of days and they will provide more info about the merge launch date and such.
It’s because they are very complex, have tons of bugs and most are undiscovered yet and basically it’s risky keeping large amounts of your money in them. There is a dev call I think in a couple of days and they will provide more info about the merge launch date and such.
Where did you them this news from can you drop me a link? Since the merge test net is completed I don't see any reason for more delays unless a new bug or problem is detected again.
The merge testnet had problems with 25% of the nodes. A success because more than 50% of the nodes worked, but not good enough to go live.
Another stresstest yesterday had some more issues..
Quote
Once today's shadow fork went live, the developer team noticed some issues with Ethereum-based software systems provider Nethermind and Hyperledger Besu, a Java-based open-source Ethereum client, Jayanthi tweeted on Monday.
https://www.coindesk.com/tech/2022/04/11/ethereums-first-mainnet-shadow-fork-goes-live-as-move-to-pos-continues/
So this leave the door open to stick with pow. It appears that it is shadow and backend work being done. Code is not that transparent. So who is to say that it works or does not work if you can't view it working or not working.
A percent of stake nodes dropped out. But not that many. And the public can't see results of testing live.
Or I read too much into the article. I would love to see real time testing much like I can see realtime btc blockchain.
Wow it could mean a few things are coming up very soon.
1) smooth switchover
2) bumpy switchover.
3) postponed switchover.
4) a disastrous switch over with huge amount of coins stolen/lost due to a glitch.
KEEP YOUR EYES OPEN AND READY FOR ACTION PEOPLE.
Where did you them this news from can you drop me a link? Since the merge test net is completed I don't see any reason for more delays unless a new bug or problem is detected again.
The merge testnet had problems with 25% of the nodes. A success because more than 50% of the nodes worked, but not good enough to go live.
Another stresstest yesterday had some more issues..
Quote
Once today's shadow fork went live, the developer team noticed some issues with Ethereum-based software systems provider Nethermind and Hyperledger Besu, a Java-based open-source Ethereum client, Jayanthi tweeted on Monday.
https://www.coindesk.com/tech/2022/04/11/ethereums-first-mainnet-shadow-fork-goes-live-as-move-to-pos-continues/
Postponed to 2023. That's what I heard.
Where did you them this news from can you drop me a link? Since the merge test net is completed I don't see any reason for more delays unless a new bug or problem is detected again.
Ethereum classic will continue POW, and the price has risen +50% in the last week.
https://www.benzinga.com/markets/cryptocurrency/22/03/26213006/ethereum-classic-soars-on-reaction-to-key-pattern-miners-gain-interest-is-a-golden-cross-o
https://www.benzinga.com/markets/cryptocurrency/22/03/26213006/ethereum-classic-soars-on-reaction-to-key-pattern-miners-gain-interest-is-a-golden-cross-o
I'm starting to get discount offers from GPU purchase agreement of 10-20 pieces but I don't have enough confidence to proceed because if PoS algorithm happens it will affects everything (PoW).
Just wait until July or August, when RTX 3080's will cost $400 a piece on feeBay, with miners offering 10-20 of them for $350 each. I too thought it was time to buy after RTX 3060's were $530 on Newegg. But this week, Newegg started selling them for $500, and news broke that PoS advanced to the next stage. So I'll return my order after mining for 2 weeks, then hopefully buy them back for < $250 this summer.
I'm starting to get discount offers from GPU purchase agreement of 10-20 pieces but I don't have enough confidence to proceed because if PoS algorithm happens it will affects everything (PoW).
It's time to start voting on the end of ethereum mining.
https://www.zerohedge.com/crypto/ethereum-20-merge-imminent-after-successful-test-will-lay-rest-energy-concerns
https://www.zerohedge.com/crypto/ethereum-20-merge-imminent-after-successful-test-will-lay-rest-energy-concerns
ETH may continue well past this summer and into next year, or not.
I don't really know. I do know a lot of people want mining to continue. AMD + Nvidia for sure.
I don't really know. I do know a lot of people want mining to continue. AMD + Nvidia for sure.
Nvidia looks like it wants less than AMD to continue since they are the ones who brought up this nasty LHR thing and not AMD.Although in the upcoming series from both providers I know for sure AMD will not have any limitation in place while I have a lot of doubts regarding Nvidia.
I also want to continue mining for sure,now I see that mining ETC with the same hash rate gives me 2.5 USD less per day now that the price of ETC has gone up than mining ETH so as far as I know ETC developers promised to never go PoS anytime soon.Mining will continue,I personally will mine even at a loss and keep the coins if I have the possibility to pay the electricity bills because I believe there is only room for upside potential for crypto in the near and not near future.
ETH may continue well past this summer and into next year, or not.
I don't really know. I do know a lot of people want mining to continue. AMD + Nvidia for sure.
I don't really know. I do know a lot of people want mining to continue. AMD + Nvidia for sure.
Unfortunately people now understand that mining are more profitable long term in bear market I doubt many miners will be a hut down even if coins aren't profitable to mine anymore.
76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8
If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?
Back in 2017 it was the same scenario. ETH was supposed too go POS in less than a year too. There was lot of post like this one about what mining will be after that and ... here we go again 5 years later.
Maybe this time it will be true, who knows?
Roughly guess, but I discovered a new fresh coin (not a shitclone copy paste, NEW code) that could be the next good coin to mine and it is Bamboo. Not 100% ready for now (miner doesn't do multi gpus yet, still not on an exchange) but dev is really active. So if ETH mining is gone in the next year, this could be a good mining canditate.
Well see ....
Maybe this time it will be true, who knows?
Roughly guess, but I discovered a new fresh coin (not a shitclone copy paste, NEW code) that could be the next good coin to mine and it is Bamboo. Not 100% ready for now (miner doesn't do multi gpus yet, still not on an exchange) but dev is really active. So if ETH mining is gone in the next year, this could be a good mining canditate.
Well see ....
76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8
If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?
I believe that unfortunately the mining of eth will end within the year given the recent tests carried out successfully, however there will always be other valid alternatives in mining even if less profitable such as raven and ergo
Ethereum is generating around $1.02 Billion worth every month in mining revenue. Out of the $12 billion yearly profit we can estimate that the miners have invested 2-3 times that amount in equipment alone.
36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins.
This is why I think that ETH PoS is never going to happen, this will do big damage to ETH rep because it's clear that ETH became a favourite because of it's PoW algorithm, I don't know what buterin is thinking 💭 . 36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins.
Ethereum is generating around $1.02 Billion worth every month in mining revenue. Out of the $12 billion yearly profit we can estimate that the miners have invested 2-3 times that amount in equipment alone.
36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins..
36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins..
76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8
If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?
76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8
100MHASH ethash 03-17-2022= around $ 3.30 a day
after ETH goes POS
100MHASH ethash = around $ 0.41 a day
https://hiveon.com/statistics/
100MHASH ethash 03-17-2022= around $ 3.30 a day
after ETH goes POS
100MHASH ethash = around $ 0.41 a day
https://hiveon.com/statistics/
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