Ethereum's Block Reward might be reduced from 5 ETH to 1.5 ETH

[Ambros]

They have proposed another EIP.

https://github.com/ethereum/EIPs/issues/189

Basically we will get the 5 ETH block reward however we won't be able to sell it until after ETH goes POS. Seems nobody likes miners anymore. And will do anything to promote a price pump.

At the beginning i was very excited about ETH, but considering massive ICO, extremely selfish developers, the DAO-fork and now this try to increase price reducing block reward..
I've lost al my interest in this coin.

I will eventually mine it when it's the most profitable, but only for a speculative interest

[1714993560]

1714993560

[1714993560]

1714993560

[1714993560]

1714993560

[jmpFCE2]

They have proposed another EIP.

https://github.com/ethereum/EIPs/issues/189

Basically we will get the 5 ETH block reward however we won't be able to sell it until after ETH goes POS. Seems nobody likes miners anymore. And will do anything to promote a price pump.

At the beginning i was very excited about ETH, but considering massive ICO, extremely selfish developers, the DAO-fork and now this try to increase price reducing block reward..
I've lost al my interest in this coin.

I will eventually mine it when it's the most profitable, but only for a speculative interest

bye bye!! Where will you go now , ha ha haaa

[adaseb]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

So looks like the difficulty bomb has officially started, so far not having much of an impact.

Ethereum classic already forked to get rid of it.

Any idea if Metropolis might alter the difficulty bomb dates?

[Ambros]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

So looks like the difficulty bomb has officially started, so far not having much of an impact.

Ethereum classic already forked to get rid of it.

Any idea if Metropolis might alter the difficulty bomb dates?

Do you think that price will increase so that mining remains profitable?

[adaseb]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

So looks like the difficulty bomb has officially started, so far not having much of an impact.

Ethereum classic already forked to get rid of it.

Any idea if Metropolis might alter the difficulty bomb dates?

Do you think that price will increase so that mining remains profitable?

There is no correlation with price and mining profitability.

[Ambros]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

So looks like the difficulty bomb has officially started, so far not having much of an impact.

Ethereum classic already forked to get rid of it.

Any idea if Metropolis might alter the difficulty bomb dates?

Do you think that price will increase so that mining remains profitable?

There is no correlation with price and mining profitability.

I know that, I was just asking for your guess.
It seems that in the next 90dayish we can still mine without any major difference

[adaseb]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

So looks like the difficulty bomb has officially started, so far not having much of an impact.

Ethereum classic already forked to get rid of it.

Any idea if Metropolis might alter the difficulty bomb dates?

Do you think that price will increase so that mining remains profitable?

There is no correlation with price and mining profitability.

I know that, I was just asking for your guess.
It seems that in the next 90dayish we can still mine without any major difference

Yes next 90 days, as long as ZEC doesn't crash as well there should be little difference. But in the late Spring/Summer then it will get really difficult.

[reflexmk]

So, from August 15th block time will be 30 sec correct? If I understand it correctly.

[Ambros]

So, from August 15th block time will be 30 sec correct? If I understand it correctly.

Block time is not deterministic, so it can vary a bit. But yeah, it will happen around the middle of august

[ujang1]

So, from August 15th block time will be 30 sec correct? If I understand it correctly.

Block time is not deterministic, so it can vary a bit. But yeah, it will happen around the middle of august

30 seconds ? It will be disaster, if you look at the popularity of ether you can see that it is growing. Many projects use ethereum blockchain for their tokens. The popularity will continue to grow and the network is congested, the blocks will be overflowing like Bitcoin.

[adaseb]

Yeah but 30 second block times are still faster than Bitcoins so the network will still run. It just won't be profitable anymore especially since the difficulty can double by next August, and add the doubling of the block times, means profits going down by 4 times.

So $100 daily profit will become $25 daily profit sometime in the next 7 months.

[reflexmk]

Yeah but 30 second block times are still faster than Bitcoins so the network will still run. It just won't be profitable anymore especially since the difficulty can double by next August, and add the doubling of the block times, means profits going down by 4 times.

So $100 daily profit will become $25 daily profit sometime in the next 7 months.

And this is final right? Not a proposal but a final decision by eth devs, correct?

[TheKoolaider]

They have proposed another EIP.

https://github.com/ethereum/EIPs/issues/189

Basically we will get the 5 ETH block reward however we won't be able to sell it until after ETH goes POS. Seems nobody likes miners anymore. And will do anything to promote a price pump.

At the beginning i was very excited about ETH, but considering massive ICO, extremely selfish developers, the DAO-fork and now this try to increase price reducing block reward..
I've lost al my interest in this coin.

I will eventually mine it when it's the most profitable, but only for a speculative interest

bye bye!! Where will you go now , ha ha haaa

This guys acts like miners won't have another coin! LMFAO Eth is purely a coin you mine and dump.  DApps have no purpose in the real world, and those that are creating dApps for Eth are wasting their time. 

Miners are in it for one purpose: Money.  Eth value goes down?  Oh let me go to whattomine and see what's worth my time.

[adaseb]

And this is final right? Not a proposal but a final decision by eth devs, correct?

Yes its been coded when Homestead was released last year, maybe in Metropolis they will extend it a little. Who knows.

Miners are in it for one purpose: Money.  Eth value goes down?  Oh let me go to whattomine and see what's worth my time.

You do realize there is something called Difficulty. So people stop mining one coin and move on to the next and the difficulty can skyrocket on that coin unless the daily miners reward is equal. Currently that other coin is ZEC. XMR has a miners reward of maybe 25% of ETH.

Your only hope is people stop mining because their electricity costs more than their profits.

[ujang1]

Market must also respond, increase prices, because there are many people mining for producing Ethereum as an investment. Of course the mining power market will react and level profit on all other coins (ETC,XMR,ZEC).

[wasif11]

Anybody using ETH REWARD App? (android)
Anybody get paid from this App?
I am using this app and collecting Ethereum.
I hope this is not scam. 
Any Help?