Bitcoin Forum

The new Ethereum PoW is a useless coin, there will never be any demand for such a coin that has no usefulness than a proof of work algorithm, no DeFi usecase, no Smart Contract use case, what is this coin good for? Honestly we miners have been scammed, this is a scam that no one needs.

How are you beeing scamed? No one is forcing you to mine it

Vitalik is not a scammer, he is more like a traitor, he became everything he was fighting against, from decentralized to centralised, I think it's a go ahead for him now if regulation is for real, maybe there was never a true decentralisation, who knows? It's a dream that crypto could build that but now I guess not.

This is why I'm shorting it, I would love it to be successful but its junk.

I think OP is talking about ETH POW, it's the fork of ETH, it's another coin.

They did this fork of ETH to continue mining, it's suppose to benefit miners, but a coin needs more than that, only time will tell if the coin will succeed.
I think it's hard to do, because people will always compare to ETH, and even if some people don't like, Vitalik and the devs of ETH are great, it's not lucky they have ETH at second place of marketcap, and lots of another projects running on ETH.

In my opinion, ETH POW will need to do some different things to succeed, not only repeating the same features of ETH.

I think offering the same features as ETH and on top of them to be a mineable coin like EthW wants to be and help the community should be enough to make this coin to take the second place from ETH which is currently second (but most probably not for long).

If on top of that the community and developers of EthW are able to implement even more features than the ones running on ETH then this is a no brainer that this coin is going to be the new one in the second place at market cap and also keeping all of us miners happy,I have the rigs shut down but most likely will turn them on soon.

Obviously it is a stupid coin with the only purpose of keep mining, but has 0 development. Just sell it and done.


ETH POS was planned since the very beggining and should be here since 2018. Miners should be thankful of having these extra 4 years to mine. Who knows, maybe crypto wouldn't be so mainstream if mining were not so profitable, and we would never had a GPUs shortage.

Protest coins never do well, just look at all the BTC forks from a few years ago.

I don't know swogerino, ETH is different than Bitcoin for example.
ETH is totally dependent on Vitalik, and he is probably one of the best minds of crypto, people trust Vitalik, not only ETH itself.

ETH pow will fight against ETC too, not only ETH, so it will be pretty hard to survive. ETH POW is not the only coin to mine, there's ETC too, ERGO and RVN.

This is something beneficial for these coins as ETC and ERGO got almost all of the ETH hash rate so we need another good coin to get back some of that hash rate because with the price of ETC and the apparent increase in difficulty sure it is not a good coin to be mined anymore,the same can be said for ERGO,only RVN didn't get that huge of an hash rate and is some what better to mine than ETC and ERGO but pretty soon it will not be anymore seeing how things are going.

Maybe people trusted Vitalik but right now most of them will not anymore after switching from PoW to PoS and centralizing ETH to a huge degree,most crypto owners do not like centralization which is against core philosophy of crypto itself.

Scam is done in anyways in crypto and he can say Vitalik is a scammer because he didn't follow the ETH2.0 roadmap as it was illustrated years ago.

I don't understand what you're saying by from decentralized to centralized. How's POW a centralized protocol?


There's decentralization in crypto if you search deep and you don't want to be bothered by all this naive crypto dev just bag your fund on Bitcoin.

Problem with any new ETH fork, is the the BIG ETH holder got some huge amount of those newly created fork. So they can dump this to hurt any good attempt of creating another good ETH minable coin.

What is the difference between ETC and ETHW?  Why would a developer pick ethw over etc?

At the end of the day it's all about the numbers my friend. Whether the developers implement more features or not. if the numbers are not there EthW will keep going downwards just like you saw with ETC or all those Bitcoin folks you have witnessed.

Honestly I don't see EthW surpassing ETH in terms of marketcap let alone even get close to top 10. the coin is taking a huge dump.

I wouldn't short it however.

This reminds me of what happened with Bitcoin Cash when it launched. People assumed it would go to $0.

However it traded between $200-$300 for a few weeks and then boom. 10x gains or so. Many will dump the airdrop and many whales will buy it up to pump it. So shorting it is just crazy. Maybe short it after it pumps.

OP nobody is forcing you to mine ETHW. Do not claim your ETHW if you think they are scamming you. But I know you will sell it because at the bottom of your mind it is free money at zero effort.

The dumping started already. Price per ETHW was $4 an hour ago. I made another check and it is now at $5.17. Did it bottomed already? And just like BCH, whales will pump this coin for some gains. Many big miners are whales too, and together with the anti-Vitalik group, they will try to stabilize this coin.

Thanks to google ads i saw this somewhere: short the merge  ;D i was unhappy anyway and shorted all what i got since eth 1800$ today im closed it thanks Vitka for merge.

I don't think it bottommed yet. The bottom will be once Binanace, Coinbase and a few other exchanges creddits their users and allows trading. Most likely it'll be a slow grind down. Then it'll find a bottom somewhere, trade for a few weeks and then some whales might end up pumping it if they feel like it.

Then it'll top out at $50 or $100, people will think it'll be the next real ETH and it'll peak like Bitcoin Cash did at like $3000-$4000 with retail holding the bag.

ethw wont even be 50.
and never 3 or 4k.
eth may never recover its ath with this transition to pos.

Greed destroyed crypto in many ways , we just can't do anything about it , POW or POS only the rich will eat the cake
eth just destroyed everything

Depending what technologies they introduce on the coin...

Honestly it depends.

If Binance and Coinbase allow spot trading and enable deposits/withdraws.

If eventually there is a futures and perp market listed for ETHW, then I can see it getting pumped. Maybe to $20 or $50 or so.

Usually whenever a coin is listed with perps it has a tendency to get involved in pump and dump schemes. Look at what happened with LUNC recently.

That's a big lie, Ethereum is now better than before, just because it leave PoW behind doesn't mean it will keep decreasing, at this point it can go higher than 4k in future because now its total supply is visible and small, also its more deflationary, if BTC goes back to 80k ETH could break 10k.

If this coin was launched, then the pump is possible. $50 isn't that much of a price in both good news and a good market, and it's possible. But I'm not ready to mine this coin yet, in order to have the hope of selling it later for a higher price.

I don't know what you see in ETH to go to such high levels when every single PoS coin has failed miserably before,what makes you think that ETH will not fail,chances are more for it to go back to the initial prices and fail completely as a project rather than to follow Bitcoin anymore.Now that they removed themselves from the miners verifying transactions it is in the hands of a handful of persons who owns the majority of the ETH available,this is against the very nature of crypto in general as it is a big centralization of things while crypto when it was invented,the first one Bitcoin the strongest point that was presented was decentralization.

Greed. Depends on how you look at it.

Quick question and please be honest.
Are you here to make money or through your voluntary efforts just make sure crypto lasts 100 more years to come?

Don't be fooled. The more you think about making money, the less heart broken you will be  ;D

Decentralization is a multifaceted thing

BTC hasn't been PoW decentralized since 2012 when ASICs took over

ETH was a lost cause since inception. 100% premined from the start with most awarded to early investors/contributors/community. Sure, a lot was mined but ETH founders always made sure they knew who had/has control.  

BUT, I will say ETH has staying power because of their community and because of the builders. I don't see BTC or ETH losing their MC ranking anytime soon despite literally thousands (over 20K competitors now) of other projects doing important things.  

Although, if the crypto community is worth a damn there will be better cryptocurrencies (well, there already are) to make their way into the consciousness as time goes on.

If you are basing on that, then you might as well say that Bitcoin has never been POW decentralized since it's inception because from the satoshi days, the founder would find himself mining alone or with a handful of other folks.
My question is, was the Bitcoin network decentralization those days much better than it is right now?

He only mined because he wanted to keep the chain going. Once other people started to mine on their own he most likely stopped mining. So sure it was centralized because it had 1 miner pretty much but it didn’t have much value so it didn’t matter.

I think as years go on, Bitcoin becomes more and more centralized. Because back in 2012 you still had some GPU miners. And many ASICs were sold to retail home miners because the manufacture needed seed money to build more ASICs.

Now it’s different. Miner ASICs very expensive, hard to compete with cheap power deals and most ASICs are sold directly to farms instead of home miners.

"...the Bitcoin network decentralization..." in those days, the days before ASIC mining at least had a chance to be better decentralization. ASICs robbed the crypto community of 1 CPU 1 Vote. Now it's 1 Corporation 1 Vote and really it's one step away from 1 Nation 1 Vote.

It is fair to link the corporate ASIC interest to BTC's broader success but at what cost? BTC would have been successful eventually anyways but getting there by way of sound fundamentals would have put it on a more sustainable path. Choose a reason: More egalitarian distribution, far less energy consumption, slower more manageable growth

The genie is out of the bottle but that doesn't stop developers from shelling out better designs. 20K cryptos and counting LFG!

ETH pow is presently trading at 13$ per coin, I saw this coming as it's already too oversold, it was 8$ days ago and I was waiting for the coin to crash down to the 5$ range but now I think it's not going to happen again, hopefully the mining difficulty goes down in few months later.

The basic idea is also good to create an altcoin pow with the same characteristics of eth so that the miners can continue their business without throwing away the expensive gpu but the last word will be of the markets if there will be a market for the new coin then it will last over time if not slowly it will disappear

Mining of this coin is now unprofitable, as well as other forks. And on expensive video cards, the profit is so minimal that the payback of video cards takes several years. Until now, there are a lot of video cards in mining, and many miners are looking for profitable coins.

For the ETHW though I think that many miners go wrong on this coin.I know it is very early to talk about it but most probably this coin can afford to go to like 50-200 USD for a coin in the long run and collecting it now at a low difficulty can be a good choice.

Since there are no real profitable coins even for really high end GPU-s it is wise to mine a coin who hold big promises (I don't know if they will fulfill them or not but they promised to be the next ETH) and hold it for the long term.Mining right now for any other purpose does not make a lot of sense.

Yes a few hours ago FTX added the perp futures for ETHW. So i can see it get pumped sometime by the whales. Only thing missing would be a Binance trading option.

I have a feeling after a few weeks and no more technical issues that they might enable trading. So it’s best to just mine this coin and hold. Most likely many already sold at a loss of $5 when it was released for withdraws on Binance last week.

Don worry so much. One day people will loose alot money in Pos then Pow will be real thing. Why BTC is valuble because for its simple.

Why Pos is dead project because they print it from nowhere and they get it and sell then out from it. Btc is not printable to understand this it will take time for many people thas why i dont worry we will see if we live along enough )))

If that's true aren't we suppose to be seeing this moment as a buying opportunity? Maybe just maybe one day people will see how undeniable proof of work is and we all go back to where we used to be, ETHPoW could worth a lot in future, its a risk worth taking.

I am focused on ETC. But EthPow could be okay.

If I have 10gh in hash on etc I earn 25 a day with 5 cent power my cost is 30 to mine it.

If I sell 2 3090's and 1 3070 for 1800 I have the cash for 2 months of mining.

my hash drops to 9720mh and I mine about 53 etc

If I do this for 6 months I am down to 9160 mh hash and have 159etc

And If I want to speculate on ethpow I could sell 1 more 3090 for 700 and buy a lot of them.

Why not/ the coin is currently trading at $10, $5 isn't so far away. The coin is still so volatile and very prone to manipulations
Anybody trading futures should completely avoid it for now unless if they have balls of steel

Here is an interesting metric - ⚔️ ETH Wars 🗡️ (https://www.geckoterminal.com/ethwars)
It's still early, but it shows how strong ETH compares to other forks including the oldest fork Ethereum classic in terms of dominance

https://i.imgur.com/SlRdjZl.png

I think you are right it is still early,once the developers of ETHW step up their game and start offering the same services as ETH does with the smart contracts and everything,secure their network and be active in the development of this coin,adding the last most important step which is to keep it a PoW coin,the results will only be that this coin will be in the top with just one year from now if not earlier.

For this to be achieved though we need a lot of extra work,passion and development to this coin from its creators.

Binance Pool add ETHW mining
How to Mine EthereumPoW (ETHW) on Binance Pool
NBminer:
nbminer -a ethash -o stratum+tcp://ethw.poolbinance.com:1800 -u Your_Mining_Account.Rig0 -log
pause
T-Rex Miner:
t-rex.exe -a ethash -o stratum+tcp://ethw.poolbinance.com:1800 -u Your_Mining_Account -p x -w rig0
pause
GMiner:
miner.exe --algo ethash --server ethw.poolbinance.com:1800 --user Your_Mining_Account.Rig0
pause

https://www.binance.com/ru/support/faq/a19bbb99a54a41cd9d49072d7fa7fd61