just a few ideas / facts
1º Constantinople will be applied in winter 2019. So still 1 year and 2 months away more or less. Many things can happen
2º Reward per block reduced to 2 ETH. If in 1 year ETH is at the same price, it will be an absolute NO GO for miners (although it's already a NO GO).
The reduction go into effect only in 14 months? This Ocotber. OP is clueless. Also block time will be reduced from 10 to 7 minutes, so drop in profitability will not be 30%. Somebody please correct me with relevant links. I think they are still merging all the EIP and haven't decided on a block number yet for the hard-fork. From what I heard from the Reddit/Youtube comments is that it will most likely happen sometime during the Devcon 4 conference. Which is in about 2 months or so, no idea why the guy said Winter 2019, most likely a typo and Winter 2018 which makes sense. if you think it carefully, would you go PoS on a coin that has lost 80% of value??Which incentives are investors going to have. It makes total sense to delay the difficulty bomb at least 12 months to see if this market recovers, and there is more hype. ETH devs needs ETH to be very valuable. Because, it can happen that huge exchanges could stock this coins and have a big % of the company when this coin goes PoS. |
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just a few ideas / facts
1º Constantinople will be applied in winter 2019. So still 1 year and 2 months away more or less. Many things can happen
2º Reward per block reduced to 2 ETH. If in 1 year ETH is at the same price, it will be an absolute NO GO for miners (although it's already a NO GO).
The reduction go into effect only in 14 months? This Ocotber. OP is clueless. Also block time will be reduced from 10 to 7 minutes, so drop in profitability will not be 30%. Somebody please correct me with relevant links. Per a GitHub post, the developers decided to accept the EIP-1234 scenario. It was proposed to delay the “Difficulty Bomb” for about 12 months, so the chain would be back at 30 second block times in winter 2019, and reduce the block rewards with the Constantinople fork sorry , but you are the one clueless https://cointelegraph.com/news/ethereum-core-devs-delay-difficulty-bomb-reduce-block-rewards-to-2-eth |
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just a few ideas / facts
1º Constantinople will be applied in winter 2019. So still 1 year and 2 months away more or less. Many things can happen
2º Reward per block reduced to 2 ETH. If in 1 year ETH is at the same price, it will be an absolute NO GO for miners (although it's already a NO GO).
3º i don't think ETH will survive that long. Technical analysis shows that it's the worst top 10 performing coin. Huge resistances to break 20 day EMA. Many investors are dropping support on ETH and there is a very big lack of investment on ETH right now.
4º this can actually be good news for actual miners. Since this news will discourage people from investing on mining ETH. We have already seen the hashrate reduction from 268.000 GH/s to 252.000GH/s average. In the actual conditions, you have to be really mad, silly and stupid to invest a lot of money in mining a coin that will go unprofitable in 1 year. You´ll not even ROI at current conditions.
5º They obviously want to reduce the amount of coins generated, and begin to take away from the coin those miners, so that the migration to total PoS is done without many people complaining too much.
6º it's to be seen how PoS will reward people. Vitalik has never given numbers of how much money ETH is making out of Smart contracts. If ETH cap is around 20 billion $ and smart contracts have 30 billion, would be the migration to PoS a good idea?? My guess is that the money ETH is getting over smart contracts does not even get close to the value of the coin in the current manipulated market.
7º the real question: will it be worth to stock ETH so that, when PoS is implemented, you get a % of the money in smart contracts?? I think it will be a total NO. Specially when people begin to realise the huge problems ETH has with Scalability and amount of operations per second. Visa can do around 1700 operations per second. ETH only 20 and BTC only 4. If we want crypto to force real money away, ETH and BTC cannot do it.
Someone said, what about other coins?? When ETH goes PoS, a huge amount of GPU will have to search a place to go. There is currently NO PLACE TO GO THAT IS PROFITABLE. And if there is a profitable coin, it will go un profitable once those GPU collapse the pool, or even ASICS and FPGA collapse the market.
Tough days are coming.
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ETH devs are not going to fork to make the coin ASIC resistant. This has never been said by any dev. Indeed, they made a poll to ask people, and 52% of the votes were to fork to invalidate ASICS, which, by this time, should be almost 60% of the current hashrate of ETH and being a big centralized coin since very few people control the amount of coins generated.
More over, they will apply Constantinopla, which, among other things, they will reduce from 3 to 2 ETH per block, which will make mining absolutely inviable for 95% of the people at current prices.
Not only this, this changes will be implemented on October 2018, so i month away and mining ETH will be gone for all of you.
The real problem of ETH is scalability. ETH can do only 15 operations per second with current block of 1mb. There is no solution for this (that's why they created ETH Classic) which was born has a "fork" for ETH to solve that issue, but it didn't.
ETH is just a very well marketed product that will die very soon and i've been warning about this a lot of times.
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big error. the situation right now IS NOT FOR MINING PURPOSES.
As been said, better to buy the coins.
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never to January 2018 values. That will never happen another time.
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holding is a good thing IF YOU KNOW FOR SURE YOU'LL RECEIVE YOUR REWARD AFTERWARDS.
Nowadays NOONE WILL TELL YOU THAT. So you are blindly believing in a market that has gone down by 60-80% (depending on the coin you watch).
Now, you have two only options.
Sell - if you believe this is the end of crypto and want some money back.
Hold - If you don't care to lose it all.
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gold hardly sees volatility. Crypto is the most volatile market man has ever seen in this world BY FAR.
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you have to be kidding. Work in something that can lose 80% of its value? are you mad???
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when you can lose almost 80% of the value of your investment, THAT'S NOT RISKY, THAT'S A DEAD MARKET.
the faster you understand it, the fast you cut off loses.
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true. ETH is the king of ICOS. That's why it's collapsing, once ICO's begin selling their coins to get fiat.
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if you are optimistic or not, JUST DOESN'T MATTER.
the ones that have to be optimistic are big whales because this shitty market is brutally centralized and manipulated.
are you trying to proyect your optimisim to others with no objective reason? that's bullshit.
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yes. Patience is the key. the more patience, the more money you'll lose.
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all of you that believe in ETH will get REKT in 1-3 months from now.
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absolutely not. This situation is going to get worse in a few days/weeks.
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absolutely agree with Metroid and DrG
my 12 cards (around 376.8mh/s ETH) would be giving me now about 14$ per month profit after electricity costs. And this is only after having changed my price x KWh to the slowest in my hole country for my purpose.
Is it worth to continue mining for 14$??. This is not the question. the question is "DO I BELIEVE THAT ETH WILL RECOVER??". the answer for me is NO.
If you think ETH will increase in price overtime, you´ll probably recover your bills (payed from your packet). So, that's why even this situation recommends TO STOP MINING RIGHT NOW, the network hashrate is still increasing.
People believe in ETH and that it's price will pump. There is NO ACTUAL REASON TO BELIEVE THAT, rather than "yolo". BTW yolo, is a part of a Spanish phrase: Porque "yo lo" valgo (which means, because i deserve it).
are we debating if you have to stop mining and buy the coins, or just mine?? Well, Mining i get around 0.75 ETH per month, with a cost of around 150$ per month in electricity. So, even investing 150$ to buy ETH, i would still not be getting the same amount as mining. If i want the coins, i'm better off mining than buying.
But my problem is that I DON'T BELIEVE IN ETH ANYMORE. Specially having known that yesterday the DEVS, talked about future difficulty bomb, and profit reduction per block from 3 to probably 2 or even 1. EIP-858 would reduce block rewards to 1 ETH per block, EIP-1234 would reduce block rewards to 2 ETH, while EIP-1295 would keep rewards to 3 ETH.
Constantinople Hard-fork will be launched in october (so every 8 months a fork, devs have said). It's not officially announced, but it's almost done that with this latest fork, they will apply EIP 1234, so 2ETH per block instead of 3. If there is no pump in price, ETH will definetely be a NO GO FOR MINERS AT THAT POINT.
ohh, btw, some stupid people said that i had lost money because i bought cards at high prices. Well, in fact, all of my RX 570 and 580 were bought at 200 to 250€ brand new, so way lower than highest prices, and even below msrp prices at launch.
My main idea of mining was to get a monthly profit of about 300€ (even if you don't believe me, i was certain ETH would not be able to keep it's prices, and predicted a drop of around 25% to 35% in the price and i accepted that situation). i never thought it was going to be an 80% as it is now. Noone expected that. Not to that extent. The idea was to sell coins after having mined them, pay electricity and enjoy the bonus.
The drop in prices has forced all of us to pay our bills from our pocket, and get nothing monthly, and just hope for a day to come that the situation gets better. That is not happening and the future is very black for crypto. i decided not to invest more money, because i have terrible doubts to get the money back.
If you want to burn your money on a camp fire, you are entitled to do it. But don't tell the others what to do, specially if the situation is the worst ever lived by crypto and you have no clue of what will happen the next year. I bet this will crash. i will hold my ETH already mined and go till the end with it with loses. But i will not put more money in this shitty and manipulated market .
Well just chalk it up as a learning experience. But I will tell you this. I have been there. I watched BTC go from $33 down to $2 and proudhon kept spouting off everyday that BTC was going to die. When BTC recovered to $5 I sold off a lot thinking wow, I just saw a 2.5x increase from $2 - biggest mistake ever. Just sit on your holdings. Enjoy your life. Try not to struggle with bills (hopefully you didn't go into debt to pay for the miners which everybody was warned not to do). If you can mine at a profit and don't mind the heat/noise go ahead. Having been in this circus for 7 years and seen multiple boom/bust cycles - I knew I had to dump most of my hardware earlier this year. I still have a few (70 card farm) but I will use my assets to buy back coins I like once I feel most of the dumping cycle is completed. I think those ICOs are still dumping their ETH looking at the wallet movements. Remember, don't get emotional with this. Pretend it's like buying Walmart or Revlon stock - can't really get too excited doing that lol. Get excited about what crypto can do to make this world better. not only that, my two rigs are using an ASUS P5QC (so socket 775 platform) with a Xeon x5460 undervolted and modded with 6 gpus in a splitter (since the mobo only has 4 pcie slots) and the other one is an ASUS P5KC with a E6750 dual core also undervolted also with pcie slot splitter. I mean, i looked at the money for the investment to everysingle penny. I even built my two mining frames to save like 20$ from both. I also agree with you in that ICOS are overselling ETH as technical analysis suggests. and if this situation stays flat for about 24 hours more, it's possible that we see a dump in price to around 200$ ETH. Someone said it before. many people are ignoring FACTS and believing on FAITH. I've already used all my faith, and look where we are. Now i will stick to reality and facts. I will not put more money on this market unless situation gives me real profit. |
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absolutely agree with Metroid and DrG
my 12 cards (around 376.8mh/s ETH) would be giving me now about 14$ per month profit after electricity costs. And this is only after having changed my price x KWh to the slowest in my hole country for my purpose.
Is it worth to continue mining for 14$??. This is not the question. the question is "DO I BELIEVE THAT ETH WILL RECOVER??". the answer for me is NO.
If you think ETH will increase in price overtime, you´ll probably recover your bills (payed from your packet). So, that's why even this situation recommends TO STOP MINING RIGHT NOW, the network hashrate is still increasing.
People believe in ETH and that it's price will pump. There is NO ACTUAL REASON TO BELIEVE THAT, rather than "yolo". BTW yolo, is a part of a Spanish phrase: Porque "yo lo" valgo (which means, because i deserve it).
are we debating if you have to stop mining and buy the coins, or just mine?? Well, Mining i get around 0.75 ETH per month, with a cost of around 150$ per month in electricity. So, even investing 150$ to buy ETH, i would still not be getting the same amount as mining. If i want the coins, i'm better off mining than buying.
But my problem is that I DON'T BELIEVE IN ETH ANYMORE. Specially having known that yesterday the DEVS, talked about future difficulty bomb, and profit reduction per block from 3 to probably 2 or even 1. EIP-858 would reduce block rewards to 1 ETH per block, EIP-1234 would reduce block rewards to 2 ETH, while EIP-1295 would keep rewards to 3 ETH.
Constantinople Hard-fork will be launched in october (so every 8 months a fork, devs have said). It's not officially announced, but it's almost done that with this latest fork, they will apply EIP 1234, so 2ETH per block instead of 3. If there is no pump in price, ETH will definetely be a NO GO FOR MINERS AT THAT POINT.
ohh, btw, some stupid people said that i had lost money because i bought cards at high prices. Well, in fact, all of my RX 570 and 580 were bought at 200 to 250€ brand new, so way lower than highest prices, and even below msrp prices at launch.
My main idea of mining was to get a monthly profit of about 300€ (even if you don't believe me, i was certain ETH would not be able to keep it's prices, and predicted a drop of around 25% to 35% in the price and i accepted that situation). i never thought it was going to be an 80% as it is now. Noone expected that. Not to that extent. The idea was to sell coins after having mined them, pay electricity and enjoy the bonus.
The drop in prices has forced all of us to pay our bills from our pocket, and get nothing monthly, and just hope for a day to come that the situation gets better. That is not happening and the future is very black for crypto. i decided not to invest more money, because i have terrible doubts to get the money back.
If you want to burn your money on a camp fire, you are entitled to do it. But don't tell the others what to do, specially if the situation is the worst ever lived by crypto and you have no clue of what will happen the next year. I bet this will crash. i will hold my ETH already mined and go till the end with it with loses. But i will not put more money in this shitty and manipulated market .
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mining is unprofitable. so it will be not worth, even if it does 100mh. difficulty is rising, and prices are going down. It's just not intelligent to buy GPU's for mining.
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