Bitcoin Forum
October 05, 2024, 12:52:25 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: What will your rigs mine?  (Voting closed: November 30, 2017, 12:52:14 AM)
Zcash - 19 (38%)
Ethereum Classic? - 14 (28%)
Monero - 4 (8%)
I will sell my miners - 1 (2%)
Decred - 3 (6%)
Other (reply below) - 2 (4%)
I never mined ETH or not recently - 5 (10%)
I do not mine at all - 2 (4%)
Total Voters: 50

Pages: [1] 2 »  All
  Print  
Author Topic: Mining difficulties when Ethereum goes to POS - What are you going to do?  (Read 5168 times)
VoskCoin (OP)
Sr. Member
****
Offline Offline

Activity: 1414
Merit: 487


YouTube.com/VoskCoin


View Profile WWW
April 24, 2017, 12:52:14 AM
 #1

So I was talking to my buddy about this. When Ethereum ETH moves to POS this year.. where will you / everyone turn their miners? Will mining alt coins as a whole become significantly less profitable? What do you think and why?

Check out my Crypto YouTube channel
https://www.youtube.com/VoskCoin
If you enjoy my content click Subscribe
JaredKaragen
Legendary
*
Offline Offline

Activity: 1848
Merit: 1166


My AR-15 ID's itself as a toaster. Want breakfast?


View Profile WWW
April 24, 2017, 01:48:23 AM
 #2

I don't mine eth.... I have always made more profit on other alts, not just the ones people swarm on.  I also auto exchange my mined altcoins and always get paid and hold BTC.

So no need to think about eth for myself like everyone else;  I have to consider the impact of the extra overflow of possible hashrate that will end up on the algo(s) I am currently mining.

Link to my batch and script resources here.  

DO NOT TRUST YOBIT  -JK

Donations: 1Q8HjG8wMa3hgmDFbFHC9cADPLpm1xKHQM
adaseb
Legendary
*
Offline Offline

Activity: 3878
Merit: 1733


View Profile
April 24, 2017, 02:26:31 AM
 #3

All GPUs will be posted to eBay!
jwarren81
Full Member
***
Offline Offline

Activity: 211
Merit: 100


View Profile
April 24, 2017, 02:33:27 AM
 #4

I prefer nvidia cards so I've haven't mined Eth algo's in months.  Lots of much more profitable coins and algo's out there.
newmz
Sr. Member
****
Offline Offline

Activity: 372
Merit: 250


The road of excess leads to the palace of wisdom


View Profile
April 24, 2017, 02:44:15 AM
 #5

There is still much argument over whether ETH can actually switch to POS and stay viable and stay decentralized.
With the current proposal meaning that only those with a very large stake will be able to "mine" my staking - this means that the ETH network will go from millions of points of security to only hundreds or thousands.

I unsderstand the stated or ostensible reason for POS - that it wastes so much electricity and is bad environmentally, but the ETH dev team has to be able to convince everyone that POS will be better and convince them in a way that maintains the value of ETH. If they can't convince most people - as soon as they switch to POS you will see a huge dump in price.

I don't know many of the technical details but I don't see any other major successful coin out there that is running POS. Correct me if I'm wrong about that. There are a few little ones.

I think the real world situation is that Vitalek, etc would like to make ETH POS but ETH is way too big as a POW coin right now - if they just try to force POS they risk killing it. Will they take that risk?

Crypto currency enthusiast and miner since 2015. Mined approx 200 ETH during 2016 and 2017 and sold it at approximately $US40 each. Then I watched it reach $1000+ each. If anyone bothers to read this stuff pay attention to this: HODL HODL HODL HODL HODL HODL

I started mining with 1 AMD 7950 and 1 R9-280X. Then I gradually built my AMD operation into 12 R9-290s. Awesome ETH hash but ridiculous power consumption and heat. Over the last year I defected to the Nvidia team. I now use GTX 1070s. They were expensive to buy (probably a bargain now) but awesome hash rate vs. power consumption. blah blah blah blah
philipma1957
Legendary
*
Online Online

Activity: 4270
Merit: 8635


'The right to privacy matters'


View Profile WWW
April 24, 2017, 03:51:34 AM
 #6

they are not switching to pos.  that tactic is to scare away  asic builders.

If some A-hole asic builder makes a killer eth miner   they would switch to pos.

So unless the asic builder self mines on the sneak never announcing his miner  Eth is not turning into a pos coin.


I have no fear if they do that.  The real fear is  WTF is btc doing with segwit and bu

as long as BTC  has good value  with most coins already  mined and in a wallet  alt coin will be fine.


Now if btc drops to 500 usd  alts will be eff'd

▄▄███████▄▄
▄██████████████▄
▄██████████████████▄
▄████▀▀▀▀███▀▀▀▀█████▄
▄█████████████▄█▀████▄
███████████▄███████████
██████████▄█▀███████████
██████████▀████████████
▀█████▄█▀█████████████▀
▀████▄▄▄▄███▄▄▄▄████▀
▀██████████████████▀
▀███████████████▀
▀▀███████▀▀
.
 MΞTAWIN  THE FIRST WEB3 CASINO   
.
.. PLAY NOW ..
VoskCoin (OP)
Sr. Member
****
Offline Offline

Activity: 1414
Merit: 487


YouTube.com/VoskCoin


View Profile WWW
April 24, 2017, 04:32:58 AM
 #7

I don't mine eth.... I have always made more profit on other alts, not just the ones people swarm on.  I also auto exchange my mined altcoins and always get paid and hold BTC.

So no need to think about eth for myself like everyone else;  I have to consider the impact of the extra overflow of possible hashrate that will end up on the algo(s) I am currently mining.

What do you choose to focus on mining?

What are your thoughts on potential overflow or hash rate on other alt coins then?

Check out my Crypto YouTube channel
https://www.youtube.com/VoskCoin
If you enjoy my content click Subscribe
deadsix
Hero Member
*****
Offline Offline

Activity: 751
Merit: 517


Fail to plan, and you plan to fail.


View Profile
April 24, 2017, 04:34:18 AM
 #8

they are not switching to pos.  that tactic is to scare away  asic builders.
If some A-hole asic builder makes a killer eth miner   they would switch to pos.
So unless the asic builder self mines on the sneak never announcing his miner  Eth is not turning into a pos coin.
I have no fear if they do that.  The real fear is  WTF is btc doing with segwit and bu
as long as BTC  has good value  with most coins already  mined and in a wallet  alt coin will be fine.
Now if btc drops to 500 usd  alts will be eff'd

That's not true Phil, ethereum WILL go POS, just not as soon as originally planned. Casper is taking longer than expected, as was the case with each major update, but it will come for sure.
Also its impossible to make an ASIC for ethereum owning to the ever increasing DAG, the closest thing to an ASIC that you can get is building MXM style cards into a large PCB, or do what Pandaminer did.

And Btc dropping will not have nearly the same impact on Alts as Eth going POS would. All the Eth miners will shift to other alts jacking up difficulty manifolds for coins that have only a few thousand people mining them right now, and will reduce profits to half or less for all of us. I just pray that day comes AFTER I have ROI'd on all my gear Smiley

Ethereum/Zcash/Monero Mining Bangalore https://bitcointalk.org/index.php?topic=1703592
VoskCoin (OP)
Sr. Member
****
Offline Offline

Activity: 1414
Merit: 487


YouTube.com/VoskCoin


View Profile WWW
April 24, 2017, 04:41:28 AM
 #9

Those are all some great points guys, so what is the next step for ETH - you think POS 2018 then or is POS truly an unrealistic dream

With all that hashing power dumped onto other Alts you think it has the potential to crash alt mining profitability as a whole or it will simply be a negative impact?

Check out my Crypto YouTube channel
https://www.youtube.com/VoskCoin
If you enjoy my content click Subscribe
Bustart
Sr. Member
****
Offline Offline

Activity: 658
Merit: 250



View Profile
April 24, 2017, 06:38:24 AM
 #10

they are not switching to pos.  that tactic is to scare away  asic builders.

If some A-hole asic builder makes a killer eth miner   they would switch to pos.

So unless the asic builder self mines on the sneak never announcing his miner  Eth is not turning into a pos coin.


I have no fear if they do that.  The real fear is  WTF is btc doing with segwit and bu

as long as BTC  has good value  with most coins already  mined and in a wallet  alt coin will be fine.


Now if btc drops to 500 usd  alts will be eff'd

Is it possible that some ASIC miners are already there and mine secertly. The difficulty is rising fast.

            ▄▄▄█▄
   ▄▄███ ▄▄███████ ███▄▄
  █████▀████████████▐████
   ▀▀▀  █▄██▄▄██▄██ ▀▀▀
     ▄███▀██▀▀██▀███▄
 ▄███████▄▄▄▄▄▄▄▄███████▄
███████████▄▄▄▄███████████
 ███  ▀███▀▀██▀▀███▀  ████
█████                 ████
  ████  ██▄▄▄▄▄▄▄██  ███
   ████  ▀▀▀▀▀▀▀▀▀ █████
    ▀████▄▄▄▄▄▄▄▄▄████▀
       ▀▀█████████▀▀
.DopeDoge...The Token That Revolutionized..
..The Weed Industry.................
██████
██
██
██
██
██
██
██
██
██
██
██
██████
██████
██
██
██
██
██
██
██
██
██
██
██
██████
████████████████████████████
████████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████▀▀▀█████████
██████ ▀██████▀      ▄██████
██████▄   ▀▀▀        ███████
██████▄             ▄███████
███████▄           ▄████████
██████▀▀▀        ▄██████████
███████▄▄     ▄▄████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
█████▄     ███████    ▄█████
███████     █████    ▐██████
███████ ▌    ███ ▌   ▐██████
███████ █▌    █ █▌   ▐██████
███████ ██▌    ██▌   ▐██████
███████ ███▌  ███▌   ▐██████
█████▀   ▀██▄███▀     ▀█████
████████████████████████████
████████████████████████████
████████████████████████████
RentGPU
Sr. Member
****
Offline Offline

Activity: 661
Merit: 258


View Profile
April 24, 2017, 07:18:26 AM
 #11

they are not switching to pos.  that tactic is to scare away  asic builders.

If some A-hole asic builder makes a killer eth miner   they would switch to pos.

So unless the asic builder self mines on the sneak never announcing his miner  Eth is not turning into a pos coin.


I have no fear if they do that.  The real fear is  WTF is btc doing with segwit and bu

as long as BTC  has good value  with most coins already  mined and in a wallet  alt coin will be fine.


Now if btc drops to 500 usd  alts will be eff'd

Is it possible that some ASIC miners are already there and mine secertly. The difficulty is rising fast.
I don't think so , difficulty is rising due to large mass of new miners hitting the network everyday due to that 2x profitability right now , when the profitability returns to what it used to be before most of the new comers will sell thier rigs because they get in mining with false calculations , profitability will decrease because of difficulty rise or prices drops thats a fact.

2016 GPU Miner
Searing
Copper Member
Legendary
*
Offline Offline

Activity: 2898
Merit: 1465


Clueless!


View Profile
April 24, 2017, 07:20:38 AM
 #12



I don't mine GPU's but curious how likely is Eth to go POS. Is it a done deal this summer or will they push this out years ahead?

I've a hard time from the sidelinse seeing how ETH could keep its value if they cut out all the GPU miner cheerleaders holding thier coin

Anyway,  just wondering


Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
Amph
Legendary
*
Offline Offline

Activity: 3248
Merit: 1070



View Profile
April 24, 2017, 07:25:09 AM
 #13

All GPUs will be posted to eBay!

i don't think so, some huge farm can't take on small coins, therefore those farm only will be forced to sell their gpu
enhu
Legendary
*
Offline Offline

Activity: 2492
Merit: 1018


View Profile
April 24, 2017, 08:06:31 AM
 #14

Interested to know where the price should go because most of us must be hoarding to earn from staking. How much is required to actually stake their ETH? Anyone knew? I will probably sell the rest of my coins just to participate. But that is if the price will still be going up.

██████████ BitcoinCleanUp.comDebunking Bitcoin's Energy Use ██████████
██████████                Twitter#EndTheFUD                 ██████████
JaredKaragen
Legendary
*
Offline Offline

Activity: 1848
Merit: 1166


My AR-15 ID's itself as a toaster. Want breakfast?


View Profile WWW
April 24, 2017, 08:34:36 AM
 #15

truncated

What do you choose to focus on mining?

What are your thoughts on potential overflow or hash rate on other alt coins then?
I look at it this way:
Presently I see a minimum of 5% pool hashrate, a high of 45%, and an average of ~15-20% pool hashrate.
If the pool jump up several GH, my profitability gets cut down to a smaller fraction... lets say an average of 2-5% max.

If the pool gets 1.5BTC/mo;  and I am only seeing 5% vs the typical 15-20%;  I am taking a major profitability hit just by the numbers.
I take into count the algo's profitability/mo as well as the other common factors in choosing what to mine.

We all know (the ones whom have been at it for a while now) that when pool hashrate gets above a certain amount;  profitability can drop just because of network saturation (higher diff);  profit does not linearly scale with hashrate...  In a perfect worked it would, but that is not so in reality.
I see much better profits and the pools "run of luck" when the pool hash is lower, and I am a good percentage of that hashrate.

Link to my batch and script resources here.  

DO NOT TRUST YOBIT  -JK

Donations: 1Q8HjG8wMa3hgmDFbFHC9cADPLpm1xKHQM
dexxa05
Member
**
Offline Offline

Activity: 87
Merit: 10


View Profile
April 24, 2017, 09:00:03 AM
 #16

Hi Guys,

You talk about alt coins that are more profitable ? Can you give us some example ?

Thx
construktor
Newbie
*
Offline Offline

Activity: 35
Merit: 0


View Profile
April 24, 2017, 09:39:58 AM
 #17

I'm hoping it gets delayed, but if not, I won't panic and sell my GPUs right away. Test out other coins and see what works, trade to BTC.
Ayers
Legendary
*
Offline Offline

Activity: 2772
Merit: 1024


Vave.com - Crypto Casino


View Profile
April 24, 2017, 10:18:00 AM
 #18

Hi Guys,

You talk about alt coins that are more profitable ? Can you give us some example ?

Thx

with nvidia there are many more you don't mine ethereum with nvidia, check whattomine, but with amd etheruem with decred or pascal is the best, stick with that if you have amd, i hope that when ETH go pos, more money come in to help the profit of other big coins, or the hash will seriously kill zcash and lbry which are the other big coins

philipma1957
Legendary
*
Online Online

Activity: 4270
Merit: 8635


'The right to privacy matters'


View Profile WWW
April 24, 2017, 11:55:38 AM
 #19

they are not switching to pos.  that tactic is to scare away  asic builders.
If some A-hole asic builder makes a killer eth miner   they would switch to pos.
So unless the asic builder self mines on the sneak never announcing his miner  Eth is not turning into a pos coin.
I have no fear if they do that.  The real fear is  WTF is btc doing with segwit and bu
as long as BTC  has good value  with most coins already  mined and in a wallet  alt coin will be fine.
Now if btc drops to 500 usd  alts will be eff'd

That's not true Phil, ethereum WILL go POS, just not as soon as originally planned. Casper is taking longer than expected, as was the case with each major update, but it will come for sure.
Also its impossible to make an ASIC for ethereum owning to the ever increasing DAG, the closest thing to an ASIC that you can get is building MXM style cards into a large PCB, or do what Pandaminer did.

And Btc dropping will not have nearly the same impact on Alts as Eth going POS would. All the Eth miners will shift to other alts jacking up difficulty manifolds for coins that have only a few thousand people mining them right now, and will reduce profits to half or less for all of us. I just pray that day comes AFTER I have ROI'd on all my gear Smiley

you could be correct.  But after I slept last night I thought about this post.

I checked all my money tied up in gear/coins/hashing contract with bitmain.

I decided I my ratios are wrong and I sold 2 coins for about 2450 usd.

I still have btc held  but my cash ratio is now more in line with what it should be.

I hold BTC
I hold ETH
I hold ZEC
I hold ZER   coins are worth 6k

I have  8k in gpu gear -------2.1k of this is off line due to arrive this week
I have  6k in asic 256 gear

I have 5k in cash            so all my crypto related stuff is about 25k

I have to keep ratios good.


▄▄███████▄▄
▄██████████████▄
▄██████████████████▄
▄████▀▀▀▀███▀▀▀▀█████▄
▄█████████████▄█▀████▄
███████████▄███████████
██████████▄█▀███████████
██████████▀████████████
▀█████▄█▀█████████████▀
▀████▄▄▄▄███▄▄▄▄████▀
▀██████████████████▀
▀███████████████▀
▀▀███████▀▀
.
 MΞTAWIN  THE FIRST WEB3 CASINO   
.
.. PLAY NOW ..
Redrose
Hero Member
*****
Offline Offline

Activity: 756
Merit: 502


View Profile
April 24, 2017, 12:45:54 PM
 #20

Personally I will switch to Ethereum Classic, a crypto-currency I like a lot. However, most people will probable stop mining as there will not be a crypto-currency that propose as much security, safeness and peace of mind than Ethereum.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!