The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.
First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.
All this causes the difficulty to rise, and makes mining very unprofitable for everybody.
Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.
I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.
It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs. i think you are wrong, those average joe, are not 1-2 person, they are hundred/thousand, so thounsand of random guys with 1-3 rig, will make a difference for sure The guys with free electricity at home will make the big farms unprofitable. There are thousands of them. |
|
|
|
Actually this will help the network long term but it's getting a little tiresome, let's see how the next fork goes and if there are any upcoming news with Casper. The price doesn't seem to be dropping below $10 anytime soon even with no news and regular attacks.
If any coin is to succeed in the long term it needs to be tested for safety and resilience. Trial by fire so to speak. So I'm actually glad that people are performing attacks, it's the only way to find out if the technology stands to survive or not on a larger scale. Agree with this, human attacks to a certain technology could somehow a good move though in order to test a particular thing if it would survive for long . In the case of ETH i could somehow say that its quite a good coin for me inspite of all issues regarding into it into the past months and years. ETH was actually going places before the attacks! Notwithstanding it did not lose all its shine and on the flip side, all these attacks can end up bringing to the fore the doggedness of the coin and people would count that as plus. ETH has been one coin that puts bitcoin on its toes and thus creating keen competition, which presents opportunities for profit making for the traders that are looking at the right pictures. Update on HF 2 and client optimizations Geth developers are working on an optimization that will store a direct on-disk table representing account storage, allowing accounts to be accessed in O(1) leveldb reads instead of O(log(n)) leveldb reads as is the case now. Preliminary tests suggest a 5x speedup in processing account reads if this is done. This is a fairly large change to the client (not quite but almost as complex as journaling) so don't expect it out tomorrow, but it will make a large difference. Simpler optimizations on the in-memory trie cache are achieving ~30% speedups. We're looking at simple forms of state tree pruning to allow nodes to reduce their storage size without having to delete the DB and fast sync from scratch. This should increase processing time indirectly. The main debate in the hard fork discussions is whether to implement EIP 158 with section 2 or with (1c) (there is little value in doing both). The two carry different risks; section 2 is more complex from an in-EVM consensus standpoint, whereas (1c) requires more substantial re-architectures in other areas of geth to implement, as iterating through all accounts is not a use case that needed to be supported in all nodes before. We are considering adding replay protection, likely either EIP 155 or a simpler trick involving using the upper bits of the tx nonce as a chain ID, but nothing is yet finalized. |
|
|
|
Actually this will help the network long term but it's getting a little tiresome, let's see how the next fork goes and if there are any upcoming news with Casper. The price doesn't seem to be dropping below $10 anytime soon even with no news and regular attacks.
If any coin is to succeed in the long term it needs to be tested for safety and resilience. Trial by fire so to speak. So I'm actually glad that people are performing attacks, it's the only way to find out if the technology stands to survive or not on a larger scale. Agree with this, human attacks to a certain technology could somehow a good move though in order to test a particular thing if it would survive for long . In the case of ETH i could somehow say that its quite a good coin for me inspite of all issues regarding into it into the past months and years. The ETH is quite good. It is going to fork again. https://www.reddit.com/r/ethereum/comments/58i8e0/update_on_hf_2_and_client_optimizations/?st=iulbbti4&sh=44772d5bGeth developers are working on an optimization that will store a direct on-disk table representing account storage, allowing accounts to be accessed in O(1) leveldb reads instead of O(log(n)) leveldb reads as is the case now. Preliminary tests suggest a 5x speedup in processing account reads if this is done. This is a fairly large change to the client (not quite but almost as complex as journaling) so don't expect it out tomorrow, but it will make a large difference. Simpler optimizations on the in-memory trie cache are achieving ~30% speedups. We're looking at simple forms of state tree pruning to allow nodes to reduce their storage size without having to delete the DB and fast sync from scratch. This should increase processing time indirectly. The main debate in the hard fork discussions is whether to implement EIP 158 with section 2 or with (1c) (there is little value in doing both). The two carry different risks; section 2 is more complex from an in-EVM consensus standpoint, whereas (1c) requires more substantial re-architectures in other areas of geth to implement, as iterating through all accounts is not a use case that needed to be supported in all nodes before. We are considering adding replay protection, likely either EIP 155 or a simpler trick involving using the upper bits of the tx nonce as a chain ID, but nothing is yet finalized. |
|
|
|
Shorting etherium is the only smart play What is so bad about another platform trying something new? Are you against Ethereum because of the smart contracts/technology or because of the way the project has been handled? Maybe he is just a trader. There is DDoS on the Etheruem at the moment. That could cause the price to drop. |
|
|
|
Spanish banking giant Santander is working on a project that explores how it could digitize customer cash using the public ethereum blockchain. Revealed today during a panel talk at Devcon2 by Ether.camp founder and ethereum Java client developer Roman Mandeleil, the news was confirmed by representatives of Santander. In statements, Santander said its goal is to open up its bank-issued funds to a community of innovators as a way of tapping additional efficiencies. Given the recent deluge of proofs-of-concepts and consortium announcements, Santander's move to potentially issue digital cash on a live public blockchain emerges as one of the more unique projects globally. Running for more than a year, the ethereum network has a market cap of more than $1bn and nearly 40,000 in daily transactions. In interview, Mandeleil explained that the Santander project envisions how the bank’s customers could convert money from their real bank accounts into a 'tokenized' online currency called 'Cash ETH' that would be redeemable for paper currency. In a demonstration, Mandeleil showed how a fictional customer could use the prototype to create digital money for use at online merchants and accessible with a mnemonic passcode called a brain wallet. (Despite past issues with the concept, he called this version "statistically hard to break"). Santander representatives indicated that the bank is now seeking to work with Ether.camp on engaging other banking partners in the project. The two partners are also looking to run hackathons that would focus on developing use cases around micropayments. In essence, the project aims to envision a way for banks to open up their basic bank account offerings to new ideas and transactional services. Further, Mandeleil said the project is part of his 10-person startup's vision that focuses more on using blockchain technologies to achieve incremental benefits for banks and consumers. "It's more like evolution, not revolution," he said. Still, he emphasized that the trial, should it go live, would mark a "huge leap" by establishing a connection between a publicly traded financial firm and and a public blockchain. "You can start to build more and more stuff and say to the regulators 'It's not so scary,'" he continued. Elsewhere, in his talk, Mandeleil discussed Ether.camp'sk with blockchain startup firms including Gemini and Rootstock. Mass media Mandeleil showcased a system whereby a Santander customer would have three new options to coincide with their traditional bank account – tokenize, transfer or refund. Should the user elect to 'tokenize' their funds, the system is set up to allow for payments of as low as $0.01, though small charges may add to Santander’s earnings depending on how the user chooses to allocate the funds. In the example, $350 in funds were withdraw to a test version of the ethereum blockchain, with $1 going toward gas payments, which are needed as payment to execute transactions on the network. By paying the gas upfront, the user is allotted a certain pre-set number of transactions they can execute, though this figure can be increased with additional payment. Mandeleil sees the digital Santander dollars as a viable alternative to PayPal. "It's not something that users will not do to have the agility of money. You click on the payment, then you put in the private key and you have the balance and the reliable transactions," he said. To offer a better view on the project, Mandeleil walked CoinDesk through a version of the prototype in which a user tokenized funds for use as payment for an article on a demo version of The New York Times website. |
|
|
|
I will just sell a certain percentage of my coins and keep holding the rest just like I did when the price reached $750 not long ago.
Yeah its always good to sell coins in small parts as you never know what will be the price in future so if you have some coins in spare you can always make profits in future. That is right. If you want to trade, you can do that. But most of us are not good traders, it is better to hold. I have bought some bitcoin in the past, I have hold since them. I just used small percentage to trade Ethereum. The bitcoin price has risen 6% in the last 30 days. When it rises further, I will use the bitcoin to buy some Monero or Ethereum. |
|
|
|
I mean....I know that the difficulty going up means more ppl are mining, means better decentralization, etc. But FUCK! Mining profits keep getting smaller and smaller!   It just mean the mining will be concentrated into cheap electricity places like China. It happened to the btc mining. No, I doubt that's the main cause. POS is coming soon, at least, too soon to invest a giant mining operation into Eth. More likely, it's a combination of difficulty bomb (by design), and more rigs being brought online/switched to Eth mining. The difficulty is still rise very fast at the moment. It is rising 25% every months on average. So the miners think the PoW will continue. |
|
|
|
ETH-fork is dead?
Why the '?' mark? Of course, it's dead. Nobody will use ETHF as fuel for their smart contracts if ETHC is x6 cheaper. You sell 1 ETHF and get 6 ETHC... Wow... What a deal. Thank you die hard forkers! Keep up the support for ETHF price! That is great news. The Expanse, SOIL is even cheaper. You should use those coins for the smart contracts. Irrelevant. There is no difference between ETHF and ETHC whatsoever. They are identical in every single bit of their technicalities.The only difference is that ETHF is forkable at the discretion of Ethereum central bankers if they decide to bail out greedy and stupid investors. At present, you can sell one ETH and buy seven ETC. Maybe you can buy more ETC in the near future. |
|
|
|
I will just sell a certain percentage of my coins and keep holding the rest just like I did when the price reached $750 not long ago.
Yeah its always good to sell coins in small parts as you never know what will be the price in future so if you have some coins in spare you can always make profits in future. That is right. If you want to trade, you can do that. But most of us are not good traders, it is better to hold. |
|
|
|
I was just wondering about this Halving and what people will do, if the price hits the $1000+ price again? Most people seem to think that the previous record, were just a fluke and were artificially inflated by the Willy Bot. Let's say no bot is involved this time, and we see those kind of figures again, would you hold or would you dump?
When we talk about Bitcoin going to the Moon, $1000 is definitely not it. At what price would you start to think about selling?
When the value of the Bitcoin finally reaches $1000 then I make sure that I am going to sell some coins for that price because you cannot let that chance go. I will not sell everything because you never know, maybe the price is going to go up after that. If the price rises to $1,000 next week, it is a bubble. I will sell. If the price rises to $1k in 6 months, I will hold. |
|
|
|
isnt this fork talking just wishful thinking ?
if some do not fork ? is ether splited ?
In order to do a hard fork without a network split, we need to upgrade every single node in the network. If only 51% of nodes upgrade, the network splits and there is no longer an "Ethereum", but two separate networks which cannot interact, each claiming to be the true "Ethereum". It could happen, but the possibility is very low. At least 70% of the miners agree with the soft fork, they might agree with hard fork as well. |
|
|
|
#Poloniex added LSK/ETH and DAO/ETH markets...
This is a big step to make this project impressive in the near future...
That makes Ethereum to be a kind of currency, not just the fuel for the smart contract platform, quite good. ETH is a kind of currency? Mind blown! If the Ethereum can be used to buy things, it can be a currency. I don't see the difference between eth and btc. |
|
|
|
|
The bitcoin price is still rising. The Etheruem price in bitcoin could drop further, but the dollar price could be stable.
|
|
|
|
Looks quite possible. There's been no retrace since .022 and 4hr macd is looking topsy as well. Does the price need to drop to 0.022 to let somebody take profit and consolidate at that level for some time? |
|
|
|
if you think ETH is scam send me your ETH .... There are many scam coins. Shall we send all the scam coin to you? What are you going to do with those coins? |
|
|
|
I know they have talked about changing Ethereums emission curve. What are the latest numbers?
Are there 5 every 17 seconds being made?
Any info/links appreciated.
There are too many sayings about the emission curve. I like the original one, which is PoW all the time and 18 million new coins every year. You can like it as much as you want but this ain't gonna happen. Total supply in the end will be between 90-100 million, depending on when will Casper come alive and with small or none inflation rate. That means the price of Ethereum could be very high as it is a deflationary money, just like bitcoin. |
|
|
|
I'm gonna sell half of my ETH stash now, gonna buy back dip below $5.
I might do the same. The Ethereum price has risen quite a lot recently. So it might need some correction. |
|
|
|
|
I agree with the cloud mining part largely. Most of them are scams or when they first provide the service, they did not want investors to get their money back.
|
|
|
|
|
Show Posts
