Topic: September is already here (Read 1044 times)

I guess we will see in 2 days or so, how many gpus were on the ethash network, many already switched to other coins, not even the price rise of those coins made an impact and by the way this is still pre bear market, this is not bear market yet, things will get much much worse before it starts to get any better, heads will roll.

Most miners are willing to work for a company that uses AI, but then why are they mining shitcoins with little profit? Do you think they don't have money for good internet, memory and a big hard drive?
I heard that you need motherboards with pci-e X16 for each video card.
But where can miners find these companies?

Didn't realise that was the reason, was always curious why "32". Always assumed it had something to do with those games that the ETH devs were playing, since many of the ETH forks are named after some game levels.

Either way, I remember back in 2015-2016 when ETH was not doing so well. Many of the ETH devs were selling their ETH and buying BTC and the foundation itself I think held a large portion of BTC.

This is proof that, BTC is still king.

Based on the stake itself, eth devs always believed btc to be 33 times more valuable than eth, as per the stake the 32 eth was chosen based to be worth 1 btc. So in that sense as this is still pre bear market eth has to crash a lot more and that is what I believe, there is still too much hype on eth yet because of the eth 2.0 but as soon as that fades away then we will see the real price of eth, I would not be surprised if eth crashes below 0.03 btc and goes below 0.016 btc like we have seen on the 2018 crash. This eth move to pos could be the death of eth itself, never go full retard and invest all in it, need to apply caution here.

No Smart contracts are running on the Bitcoin chain either, but still 2-3 times more valuable than Ethereum.  

This is a very tough question, Ethereum has the biggest mining hashrate after BTC and right now there is no other altcoin capable of taking in all that heavy hashrate, I think after the merge many miners will give up, sell their machines and move on, ETC is not capable because people don't care about the project as they do with Ethereum, no smart contracts are running on ETC.

This is not true
Nvidia RTX cards are perfect for AI, but the mining rig will need more than 4gb of memory, a larger hdd and a fast internet connection.

AI requires other graphics cards like Tesla and more expensive hardware. And the equipment that most miners have does not fit these tasks. This topic has been discussed many times, but there are no ready-made solutions. If you have information on how to rent your video cards to them, please write.

Yes and this is what most new miners don’t understand. They think that if today ETH makes them $20 a day while ETC makes them $10 a day. They are thinking after the merge that “I can mine ETC and $10 a day is still lots of money for me”.

They don’t realize that the supply is capped and controlled by difficulty. The more miners the more the reward will have to be split. Unless ETC all of a sudden has higher network fees due to erc20 tokens and NFTs on their network but I am pretty sure that won’t happen.

Why not?

The Private Nordic "sentient" blockchain powered AI POW network is paying much more than $10 million a day.

I'm not sure what will happen.  I suspect the network will fork and there will be some support for ETH_PoW but likely not enough to support the amount of miners that would be mining it.  That will likely lead to other coins like Ravencoin getting some additional hashrate.  I'm very curious how this will effect the market though and what will happen to not just all the mining equipment, but to the prices of the remaining PoW coins.

I saw a reference in https://www.asicminervalue.com/ there are several ASIC tools that are specifically for mining etc and are very profitable. It says it can be used for mining etc and eth, I think etc is a suitable substitute for eth.

Every day, Ethereum gives miners more than $10 million, and at the best of times this reward was several times more. Which coin after the end of ethereum mining will give at least 10% of this amount? Ethereum classic gives miners about $600,000 a day.

Binance announced today that they will support the ETH POW fork.

With the current price of $50 for the futures, we can expect the network to start at more than 50THASH of Ethash and become the largest gpu minable coin in the world. The price is volatile and is trading at $50-200. (50-200THASH estimated network hashrate).

An estimated 2.5%-10% of the total ethereum hashrate will move to Ethereum POW after ETH goes POS.  At 150-200THASH the Etherum POW hashrate will be the same as Ethereum had in in the summer of 2020. This hashrate is expected to increase as more investors, developers, traders and miners move away from the declining POS chain.

Or a last minute pos delay will happen and we get 100 more days of pow.

Well obviously there is no point if it costs more to mine when you can just buy it directly instead. I am sure many will wait and see. Those that wanted to sell their GPUs already did so. Most miners now are waiting and seeing what will happen.

Maybe ETC will appreciate in value, maybe some other coin will.  Now most don’t know exactly what will happen. Either way should be an interesting September.

Does anybody plan to speculatively mine GPU coins after PoS, even if the 'paper profit' is a few pennies per day per card? If revenue < power cost, I obviously will turn my rigs off.

The alternative to mining is to sell the cards then buy coins. That doesn't seem like a bad deal since video card prices are still above MSRP, but coin prices seem to be low. I doubt my cards would be able to produce the same amount of coin in the next 24 months compared to just selling them now.

And if you decide to switch to ETC, the 6GB DAG file of ETC will take a very long to hit that limit. Your 6GB VRAM is safe, do not let anyone try to fud you with the DAG limit, selling your cards for cheap because of the low 6GB VRAM. Efficiency is more important to DAG thanks to ETH pulling the POW plug.

I almost sold out all my 6gb graphic cards because of this but since the original Ethereum is going to PoS it won't be needy anymore and as for the new PoW ETH its probably going to take longer to exceed 6GB memory.

Well from what I recall I don't think there are any AMD gpus which are 5GB. Nvidia however has a few GPUs which are 5GB however I don't think they are popular with miners. Most are holding the 8GB variants of those GPUs.

So since an ASIC has much higher hashrate than a single GPU, it explains the sudden drop we got in the last few days or so. Makes you question, how many ASICs are actually running behind the ETH blockchain. Given this drop it seems to substantial.

I know about Jasminer and Innosilicon A10pro, both 5GB asics
Is there more?
If I remember correctly, the Bitmain E9 have 6Gb (and probably hundreds of them mining right now)

I'll try (not a promise haha) to make the math of the exacly moment ETH hit 5GB dag size and compare with the drop in hashrate, we can have some clue

I confess I'm very curious to know about the percentage of Asics in the network

It seems like if not mining ETH, most are doing ETC or RVN. Is there a 4th most popular?

Not gpus but I think you meant asics and I think you are right, there are too many 5gb asics that stopped working recently and I assume that is why eth network hashrate decreased. The truth here is x profit, etc at moment gives 2x less than eth, no sane miner with gpus with more than 5gb would change to etc.

I posted here about this: https://bitcointalksearch.org/topic/m.60800136

ETHW (obviously) need devs + community to succeed
But I remember that even if a strong person supporting a coin it's not guaranteed success, the example is Roger Ver and Bitcoin Cash, even an early and famous adopter can't make BCH even a top 15 coin, after that fork they tried a lot, but people still use BTC instead of BCH.

Maybe a solution to ETHW is to have strong support from big exchanges, just an example, if Binance works with FTX and have some good devs, or a famous dev...

ETH has Vitalik
ETC has Vitalik words of support ( either real or not )
ETHW has who? Nobody

The case of the new PoW forks will end up just like BCH and BSV lol, I think miners will witness a very ugly future before things get better.

There are a lot of 5 GB ASICs. 

You sure that the recent drop of ETH hashrate into ETC has nothing to do with miners switching to ETC to abandon ETH chain but more of the fact that 5gb GPUs stopped mining recently due to the DAG just recently hitting 5GB.

There are many of these 5GB GPUs out there and they maybe are switching to ETC since they don’t have a choice. Because the profitability is much worse. Wouldn’t make sense any other way.

I never thought that Ethereum will take this merge serious but I am glad that I've made back most of my investment, I have even sold some graphic cards to PC gamers and right now I still have two I want to sell, but I am keeping the rest just in case something goodie comes up.

The difficulty right now is dropping even more:



The last time ETH was at this hashrate was December 17, 2021, with 11,404 - Now is 11,592

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Just to compare, this is the difficulty chart of ETC

yeah. I get it short term thinking.

My thoughts are to continue shifting to etc and hope people continue to do it.

If we all did this it would prolong the difficulty bomb by as much as a month.

And I can already see that my eth earnings are not decreasing as much as I dropped the hash rate because eth difficulty has decreased matching my hash decrease.


I am at this point now.

I don't like the increased hash rate on ethereum classic in recent days. I will stay mining ethereum until the end.

There is no hope now, it will take years to recover, 2025 - 2026 I see a light at the end of the tunnel.

This is scary, but there is hope, we have two new PoW ETH for coming so miners will be able to spread out their hashing power, I wish one will be GPU base and the other will be Asic base, enough of Asic miners taking over everything.

I am philipma1957's alt.






I was thinking if enough of us shift early to etc we could delay the difficulty bomb. We would need to do it systematically. Not super fast.

I moved 10 % of my hash to etc will do it again in 4 or 5 days.

Going to move 2gh to etc today.

edit:


I moved my big 1gh rig just now.

should earn .5 etc a day


all shares are showing check fail on viabtc.

anyone have luck on viabtc.

both trex and nbminer on 2 different rigs just give me reject shares with a check fail error



I may have fixed it.

I forgot to change eth to etc duh!

I moved a 100mhs rig and a 1000 mhs rig.

Its a speculative move. One could argue just mine the eth it pays more and buy the etc.

I am now 8.7gh eth and 1.1 etc


And of course another rule change for Eth and eth2 .

I have staked about .2 eth on coinbase.

here is the new rule.


"Coinbase logo   
 
View in browser
 
Coinbase logo
 
We have changed the way your ETH2 rewards show up in your Coinbase account
Hi there,
 
We have made changes to how your ETH2 rewards are represented in your account.
We added the ETH2 rewards you have earned to date to your balance and show it as a single amount.
The first payout in your account was the actual amount you earned to date, minus the Coinbase fee, based on on-chain rewards. Your first payout might be slightly different than the estimate of rewards earned that was previously shown in your account.
After that single payout, you will receive payouts of the ETH2 rewards that will be added to your balance every 3 days.
You still won’t be able to unstake, sell, or send ETH2 until future upgrades on the Ethereum network or trading is otherwise offered.
If you have any questions, please visit our help center."


New format from coinbase

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ETH2 logo
Ethereum 2
ETH2
Available to trade: 0 ETH2 ($0.00)


Not tradable in your region

Add to Watchlist
Overview
Wallet
Vault
Balance: 0.19309119 ETH2 ($315.92)
AUG
19
Ethereum 2 reward
Completed


+0.0004 ETH2
+$0.79

JUL
19
Converted to Ethereum 2
Completed


+0.1926 ETH2
Ethereum 2 rewards
Lifetime rewards


+ 0.00045688 ETH2
APY


3.28%

So I believe it is finally happening for real and the devs of Ethereum with Vitalik on top I believe they know that their coin price and development after switching to PoS will only keep going south as that is what happened to all other PoS coins.I am waiting patiently to see the developments of what will happen to Ethereum once it switches to the PoS from proof of work.

In the #Ethereum Core Devs Meeting today a final mainnet TTD of 58750000000000000000000 was confirmed!!!

This means the Ethereum Merge will officially go live in ~28 days around September 15th!
https://twitter.com/CryptoGucci/status/1560302966086811651
countdown to the end of ethereum mining
https://www.totaldifficulty.com/

The latest news says that around September 15, eth will switch to pos, will it be the right time? etc will never be as profitable as eth at least that its value does not reach around 2000 $ but it has a lighter algorithm it can be mined more easily and no expensive latest generation gpus are needed there are pros and cons

Ethermine announced eth mining will end on 15 September.

https://ethermine.org/announcement

Get ready for the carnage. The greatest mining apocalypse is upon us hehe

Yeah I saw,the difficulty has increased a lot nevertheless I have since yesterday jumped onto the ETC mining wagon saying goodbye once and forever to ETH.I know ETH will fail miserably because it was so successful until now not because of the fintechs or users that they supported it,but because of the miners who were a huge number who helped keep the network secure.Whatever fintech or user and company uses ETH in PoS trust me they cannot make the network as secure as the miners do by validating transactions.Enough of this,anyone has his own idea,mine has started and is in this pic below.

ETH has Vitalik.

ETC got who? Nobody.

Nobody uses etc. Nobody cares about it, other than the miners. ETC don't have any breakthrough fintech projects on it. ETH got all these thanks to Vitalik's brilliance.

We have seen it with bitcoin's bcash hard fork, we've seen it with eth/etc. A chain where only the miners like won't survive for long. Users decide the winner, not miners.

For those that don’t know how difficulty works, it works like this.

Let’s say you are making $10/ day now with ETH mining and ETC mining is giving you $9/day.

When ETH ends POW, does it mean you will make $9 a day instead of $10? No.

Reason why is that now the difficulty for ETC is small, when there is no more ETH to mine, the difficulty can double, triple, quadriple, etc.

If difficulty doubles you make $4.5 a day, if it’s quads then you make $2.25 a day, etc.

You would need more than 300MHS, right now it's 500MHS for 0.25 ETC/DAY

If you see in the profitability right now,RVN is first,ETH second and guess who is third,yes you guessed it,it is ETC because a lot of people are  mining it.This is known from the increase in the network hash rate these last couple of days.The smart people should switch to mine this coin in these last 2 months before ETH moves to PoS while it can be mined easily as once the network difficulty and hash rate will go up a lot then it won't be easy to mine and consequently the price should increase (just an assumption).

So if my theory happens to be right you can mine 1 ETC within 4 days within 300 Mhsh,imagine if the price of it goes up a lot after the merge of ETH,we can make a nice profit from such move,even if it does not happen we can still be third in profitability and only lose a couple of dollars in total.I think this is something to be tried.

What shit you are writing. ETC and abandoned chain? XD You are my hero. ETC is the original Blockchain from ETH - ETH forked away in 2016. ETC has max cap, block reward reduction every year, but has implemented all updates like ETH. ETC is in the Top 20 back again.

ETC forked to the ETChash algo to get more hashrate into the network after the hacks in 2020 - the ETC community want ASIC´s in the network to secure it!!!!! Is really nobody understanding how important ETC is and what is possible? ETC is the 3. biggest network after BTC and ETH

ETC is an abandoned chain. It will never be as profitable as ETH. Sure, somebody somewhere is doing something on ETC but ETH has Vİtalik. ETC don't. So, nobody really cares about ETC. I think mining with GPU's will soon die because there isn't really a replacement for ETH. You'll have to mine shitcoins like ETC but for how long? It will be slow long death for the GPU miners. It is smart to leave the scene while you still can. You don't wanna hold them heavy GPU bags.

Ethereum Classic already has a DAG file of more than 3 GB and video cards with 3 GB of memory will lose hashrate. Miners with zombie mods will become unprofitable in a few months, because the hashrate will drop a lot. But asics have great opportunities on this algorithm.
https://minerstat.com/dag-size-calculator

The hash change was mostly to lower the DAG because the network was getting 50% attacked. They figured many <4GB could be mining and secure the network. So this is why they forked to a lower DAG.

The algo however was also changed and the original Antminer ETH asics couldn't mine it until months later when some firmware fix was released. If they wanted to keep ASICs on, they wouldn't of made this drastic change.

ETC hash change was intended to include asics so no luck for gpu miners with this coin.

The miners will move its price, surely they won't sell if price is not worth more for paying the bills. Its the demand I think will be the problem because afaik there is not much tokens created on top of ETC chain. I can't remember the last ICO token on ETC posted in the forum.

They should be developing more or a migration system making it easy to switch tokens of ETH to ETC.

we are going back to good old days when we keep to ourselves what coins are we mining LOL 

Etc will never been as profitable as eth as a lot of the hashpower will move over to etc without the price being moved (most likely).  I think everyone will just wait and see to see where the profitability goes and will most likely just ride the most profitable and flip for fiat/btc like they always have in the past. 

Also my 1.5 Ghsh when the Ethereum mining will end agrees on this,I have near 1.1 Ghsh in ETC 4 GB cards and near 400 Mhsh in Ethereum with cards from 8 GB to 16 GB.Hopefully we will hit it right when the time comes and ETC will be a safe haven for all of us.
I think that whatever amount of crypto we make daily for the longer run I am sure we will all be in huge profit.Patience is key in this crypto winter.

My 10 gh in gpus agrees with you.

I think that the developers of ETC will be ready to fork algo once more if they see that a lot of ASIC-s take over,they have already promised that their coin will PoW for the lifetime of it and I think they are ready to also move away from ASICS by changing the algo.

The switch most probably will happen in the few first months if they are decided to do this move which I think would be awesome for GPU miners,I think ASIC miners should lose this war and should point their ASICS to mine Bitcoin and leave the low profitability coins like ETC to GPU miners,I think the ETC developers have the same idea.

Can all the current ETH ASICs even mine ETC? Isn’t the reason why ETC forked their algo was to keep ASICs out and to lower the dag memory requirement?

It will be interesting however when the switch happens. We will see how many ASICs and GPUs actually are out there.

Will it be profitable to mine anything? Not at these prices. Etc price is way too small to make it mineable if all the hash rate points to ETC from ETH.

ETC will be ASICs heaven. ETH/ETC hash algo is not egalitarian enough anymore. (actually for quite some time)

The only way forward (besides security aspects of the algo) for a good distribution of coins and best decentralization is an even better egalitarian hash algo which the ProgPow family fulfills.


ETC will "save" ASIC manufacturers but not at all GPU miners.

Possibly the end of Ethereum, but not the end of mining..

Soon we're going to find how much of the network are asics, and if asic sellers would sell used and almost obsolete hardware

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I think market will find some balance too, miners will not stop mining and stop looking into crypto, some coins will have support not only with mining but people can buy coins, talk more about the projects, and devs possibily can use this to bring more people into.

Imo people underestimate the number of asic that there is on ethereum

 big farm and private entrepreneur have develop their own miner without any public sale


Other coin is going to be okey, everything will balance imo

ETC may not be that profitable, but this coin is very good for owners of older video cards.

So it seems September is the last month we will be able to mine Ethereum, what's next to do with our mining rigs? I believe Eth is the most profitable and Ethereum Classic is just trying to catch on, what do you believe in this stage? Can ETC be just as profitable as ETH.