Miners interest and altcoin price correlation

batang_bitcoin

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Quote from: zasad@ on April 12, 2021, 09:46:20 AM

Quote from: batang_bitcoin on April 11, 2021, 05:33:14 PM

It's the staking that shall be added once Ethereum goes POS. There will be no miners but those who are holding a lot has the most profitable thing upon holding Ethereum.
If you want to be part of it then you should invest while you can but the minimum for individuals are 32 ETH but I've seen the potential profit of it and it's not that much. Because there will be more people to stake and likely the difficulty will increase and shared rewards will be lesser.

This is not entirely correct information. You can become a validator using other exchanges and projects and deposit fewer coins. Look at the statistics,
43% of validators used the services of intermediaries
https://beaconcha.in/pools
Vitalik says the team needs to spend less time launching phase 1.

I forgot to say about those pools and thanks for adding that btw. But that's my assessment on it, if I've got small amount of it, I'll just put it on hold and won't use it to join any pool.
I just find the rewards aren't that profitable at least for me. But no one stops everyone for doing it if they think that it's a good additional income being a validator through those exchanges and pools.

zasad@

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Quote from: batang_bitcoin on April 11, 2021, 05:33:14 PM

It's the staking that shall be added once Ethereum goes POS. There will be no miners but those who are holding a lot has the most profitable thing upon holding Ethereum.
If you want to be part of it then you should invest while you can but the minimum for individuals are 32 ETH but I've seen the potential profit of it and it's not that much. Because there will be more people to stake and likely the difficulty will increase and shared rewards will be lesser.

This is not entirely correct information. You can become a validator using other exchanges and projects and deposit fewer coins. Look at the statistics,
43% of validators used the services of intermediaries
https://beaconcha.in/pools
Vitalik says the team needs to spend less time launching phase 1.

bodaa

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Quote from: GreatArkansas on April 12, 2021, 12:10:45 AM

Quote from: X-ray on April 11, 2021, 11:19:45 AM

Quote from: bodaa on April 11, 2021, 05:30:24 AM

(....)

Miners were always creating the dump to the market. Miners get ethereum for free and they will be throwing their ethereum into the market.
(....)

For FREE? I don't think so, miners have a lot of expenses too, just like their mining rigs, computers, different types of equipment and most important is the electricity. So being a miner is not totally free, especially if you are from a place or country that the electricity cost is expensive.

Speaking of miners, dumping the market. What I believe is they are somehow selling their mined coins to cover some their mining expensive, also they decided to take profits.

Of course they have costs of electricity and equipment and maintenance etc.
The question is this. When they do transfer their hashpower to a new coin can we expect that coin's price to increase or there is no correlation.

GreatArkansas

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Quote from: X-ray on April 11, 2021, 11:19:45 AM

Quote from: bodaa on April 11, 2021, 05:30:24 AM

(....)

Miners were always creating the dump to the market. Miners get ethereum for free and they will be throwing their ethereum into the market.
(....)

For FREE? I don't think so, miners have a lot of expenses too, just like their mining rigs, computers, different types of equipment and most important is the electricity. So being a miner is not totally free, especially if you are from a place or country that the electricity cost is expensive.

Speaking of miners, dumping the market. What I believe is they are somehow selling their mined coins to cover some their mining expensive, also they decided to take profits.

hd49728

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Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

Miners mine cryptocurrencies (Proof-of-Work, PoW) to sell their rewarded mining coins to take profits after pay their power bills. They will stop mining if they don't have reserved budget to pay power bills or don't see future for higher price.

Stakes buy cryptocurrrencies and staking (Proof-of-Stake, PoS) to have the same things.

People feel with EIP 1559, the transaction fees on Ethereum network will be cheaper and makes it become usable for non-rich crypto investors and users. It can be true or not true, let's wait for real results on chain.

Miners and stakers can impact the price. If they are whales, they can manipulate the market.

bitkanu

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Quote from: RussianEnglishTranslation on April 11, 2021, 10:42:46 AM

Quote from: bodaa on April 11, 2021, 07:34:09 AM

True but I think a significant percentage will look for better opportunities

Even if Ethereum mining stops you can still mine 0xMR token on Ethereum.

Im not even thinking he was a miner but your point is still far to be the true story. Even ethereum miners are preventing ethereum EIP1559 to be implemented and that means they were not even interesting move to the new coin like 0xmr and we know the reputation of 0xmr.

7788bitcoin

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Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

You have to assume that there is a correlation, the miners will only jump to a coin which they think can reap them benefit if they are spending his resources and i do not think they will stick to a coin which does not show any developmental progress in the recent past and i think miners will start mining Monero and ETC as they can give you a decent return according to the GPU you are using.

batang_bitcoin

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It's the staking that shall be added once Ethereum goes POS. There will be no miners but those who are holding a lot has the most profitable thing upon holding Ethereum.
If you want to be part of it then you should invest while you can but the minimum for individuals are 32 ETH but I've seen the potential profit of it and it's not that much. Because there will be more people to stake and likely the difficulty will increase and shared rewards will be lesser.

zasad@

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Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

I have argued for a long time on this topic, and we came to the conclusion that the influence of miners on the price decreases every year on many top coins. Reducing the reward will create a problem for miners, but there are no decent coins on the market. Most of the blockchains that support smart contracts use the POC algorithm and do not need the services of miners.

bodaa

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Quote from: X-ray on April 11, 2021, 11:19:45 AM

Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

Miners were always creating the dump to the market. Miners get ethereum for free and they will be throwing their ethereum into the market. that's why some people called the miners as a factor to prevent the increase of ethereum price. When EIP1559 will be fully implemented and that will be pushing miners move to the another coin. That will decrease the inflation due to the dump created by the miners.
That makes ethereum can still to be a promising coin as well.

Well good point but unfortunately I dont have the funds to invest in ethereum so am looking to where they might go next.
Dont know if what am thinking is correct or not but I think it is worth the research

bodaa

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Quote from: Yogee on April 11, 2021, 11:16:12 AM

Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price

I've seen this mentioned in the case of BTC but not in other coins. There was an argument that miners would not allow the price to drop below the average cost of mining.

Quote

I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

You are speculating what coins they will mine next? Goof luck with that.

The price still depends on the market. They are the one who will speculate which coins they think will pump or invest long term on coins they believe are good.

Yes exactly I am trying to target coins that they might move to.
Thats why I am looking for a coorelation if one exists Cheesy

My guess is they will push to make the coins they choose be more expensive so they get more benefit dont know how they could manage something like that tho am just reaching Grin

X-ray

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Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

Miners were always creating the dump to the market. Miners get ethereum for free and they will be throwing their ethereum into the market. that's why some people called the miners as a factor to prevent the increase of ethereum price. When EIP1559 will be fully implemented and that will be pushing miners move to the another coin. That will decrease the inflation due to the dump created by the miners.
That makes ethereum can still to be a promising coin as well.

Yogee

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Quote from: bodaa on April 11, 2021, 05:30:24 AM

Why am I asking is if there actually is a relation between miner interest and price

I've seen this mentioned in the case of BTC but not in other coins. There was an argument that miners would not allow the price to drop below the average cost of mining.

Quote

I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

You are speculating what coins they will mine next? Goof luck with that.

The price still depends on the market. They are the one who will speculate which coins they think will pump or invest long term on coins they believe are good.

RussianEnglishTranslation

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Quote from: bodaa on April 11, 2021, 07:34:09 AM

True but I think a significant percentage will look for better opportunities

Even if Ethereum mining stops you can still mine 0xMR token on Ethereum.

bodaa

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True but I think a significant percentage will look for better opportunities

TheMimic1

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It's not as if it's over for miners once eip1559 is activated, the reward will be lower but not marginally, ETH miners will still be here after eip1559

bodaa

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Why am I asking is if there actually is a relation between miner interest and price I think there will be great opportunities to invest when Ethereum's EIP 1559 is released and miners will have to shift there attention to other coins.

Topic: Miners interest and altcoin price correlation (Read 156 times)