[ANN] Ethereum: Welcome to the Beginning

[wavessurfing]

International thoughts about EIP-1559

https://twitter.com/preston_vanloon/status/1351616415065751552?s=20

"Has anyone modeled the actual miner reward reduction of EIP-1559, recently?

Earlier this week, miners raked in nearly 20k ETH in gas fees on top of block rewards.

I saw some quote that EIP-1559 would burn $1MM per day... That's only 700ETH, remainder still going to miners."

https://cryptofees.info/
The amount of commissions in the Ethereum ecosystem per day $ 8-9 MM.  EIP-1559 will burn less than 10%. Why are miners so worried? They will lose 7-8% of their profits.

can you explain EIP-1559 ? thank you.

[1715027815]

1715027815

[zasad@]

International thoughts about EIP-1559

https://twitter.com/preston_vanloon/status/1351616415065751552?s=20

"Has anyone modeled the actual miner reward reduction of EIP-1559, recently?

Earlier this week, miners raked in nearly 20k ETH in gas fees on top of block rewards.

I saw some quote that EIP-1559 would burn $1MM per day... That's only 700ETH, remainder still going to miners."

https://cryptofees.info/
The amount of commissions in the Ethereum ecosystem per day $ 8-9 MM.  EIP-1559 will burn less than 10%. Why are miners so worried? They will lose 7-8% of their profits.

can you explain EIP-1559 ? thank you.

The Ethereum network works similarly to the Bitcoin network. The higher the transaction fee, more priority it has to be processed first.

This is relevant for arbitrage traders who find profitable opportunities on various decentralized exchanges. They don't care what they pay for a transaction  500-1000 or more dollars, they only care about the profit. Such actions make it impossible to send cheap transactions to other users.

EIP-1559 will adjust the commission automatically, depending on the network congestion. This commission will be called "BASEFEE". And part of the commissions will be burned, which will reduce the amount of Ethereum coins.

Ethereum 2.0 introduces a similar system. The more transactions, the more shards the network will process them.
Every validator on the Ethereum 2.0 network will lose coins from their deposit for breaking the rules.

[wavessurfing]

International thoughts about EIP-1559

https://twitter.com/preston_vanloon/status/1351616415065751552?s=20

"Has anyone modeled the actual miner reward reduction of EIP-1559, recently?

Earlier this week, miners raked in nearly 20k ETH in gas fees on top of block rewards.

I saw some quote that EIP-1559 would burn $1MM per day... That's only 700ETH, remainder still going to miners."

https://cryptofees.info/
The amount of commissions in the Ethereum ecosystem per day $ 8-9 MM.  EIP-1559 will burn less than 10%. Why are miners so worried? They will lose 7-8% of their profits.

can you explain EIP-1559 ? thank you.

The Ethereum network works similarly to the Bitcoin network. The higher the transaction fee, more priority it has to be processed first.

This is relevant for arbitrage traders who find profitable opportunities on various decentralized exchanges. They don't care what they pay for a transaction  500-1000 or more dollars, they only care about the profit. Such actions make it impossible to send cheap transactions to other users.

EIP-1559 will adjust the commission automatically, depending on the network congestion. This commission will be called "BASEFEE". And part of the commissions will be burned, which will reduce the amount of Ethereum coins.

Ethereum 2.0 introduces a similar system. The more transactions, the more shards the network will process them.
Every validator on the Ethereum 2.0 network will lose coins from their deposit for breaking the rules.

thank you so much.

[SiNeReiNZzz]

Always on the lookout...
The next price rocket could already be on the starting blocks! 

[livingfree]

No one talks here that Ethereum just got $1,400+ a day or two ago.

Well, now I have almost all my funds in ETH. And today for me is more important rising price in sat, not usd. So, I think it is still possible. Even if btc price will be down.

They say buy dip but was it a real dip or crypto just went down for a long time

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

Eth price is not yet the ATH, We might witness its run a week from now.

Eth is not actually following bitcoins dip atm.

Well, just today Ethereum got hit the new ATH @ $1,450. That was unexpected when it fact yesterday the price of it was just playing $1200-$300.

Those who predicted that it could trigger the next ATH last time, well you guys are perfect and right!

[zasad@]

https://decrypt.co/55213/analyst-gives-three-reasons-why-1-6-billion-in-eth-just-left-exchanges
Analyst Gives Three Reasons Why $1.6 Billion in ETH Just Left Exchanges
Tim Hakki(C)
Jan 25, 2021

"The exodus started on Tuesday, when there was 16.6 million ETH held in exchanges, meaning that $1.6 billion has left exchanges.

Pedro Febrero, an analyst at Quantum Economics, told Decrypt that there could be three reasons that explain why so much ETH was drained from exchanges.

1. Ethereum has returned to being locked in DeFi,” said Febrero, in reference to crypto staked in decentralized finance smart contracts.

2. The number of ETH locked in the beacon chain (PoS) grew by more than 320% since December 2020.” Febrero, here, is talking about ETH locked up in the smart contracts for ETH2.0, the next generation upgrade to the Ethereum blockchain

3. Institutional investors and smart money, like Grayscale investors, are accumulating Ethereum "

[outbreak198x]

Hello,

I just want to ask whats the easiest way to come back to historical hashrate data.

I know how much ETH we earned, but actual profit calculators want match. 

What paramaters do i need to convert back our earnings  to hashrate (round about)

Because i have some beef with a lawyer - so i have to declare how much devices (or hashrate) we had.

Would be nice, if someone can explain :-)

[Mistafreeze]

No one talks here that Ethereum just got $1,400+ a day or two ago.

Well, now I have almost all my funds in ETH. And today for me is more important rising price in sat, not usd. So, I think it is still possible. Even if btc price will be down.

They say buy dip but was it a real dip or crypto just went down for a long time

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

Eth price is not yet the ATH, We might witness its run a week from now.

Eth is not actually following bitcoins dip atm.

Well, just today Ethereum got hit the new ATH @ $1,450. That was unexpected when it fact yesterday the price of it was just playing $1200-$300.

Those who predicted that it could trigger the next ATH last time, well you guys are perfect and right!

Next target for eth is $2000. It will hit $5000 by year end. Eth is next big thing after BTC and one eth 2.0 is out, there will be no stopping for eth.

[zasad@]

Hello,

I just want to ask whats the easiest way to come back to historical hashrate data.

I know how much ETH we earned, but actual profit calculators want match.  

What paramaters do i need to convert back our earnings  to hashrate (round about)

Because i have some beef with a lawyer - so i have to declare how much devices (or hashrate) we had.

Would be nice, if someone can explain :-)

I study a lot of information about cryptocurrency taxes, but I have never come across someone requesting hash rate data. The entire history of your hashrate can be stored in the mining pool, if the pool has committed itself to store this information.
The calculator can give errors, because the pools have different reward systems.
Even the equipment could not work for some time due to failures, power outages or disconnections from the Internet.
The mining reward is highly dependent on network fees.

Although there is chart data on the profitability of mining
https://bitinfocharts.com/en/comparison/ethereum-mining_profitability.html

[TeraBite]

No one talks here that Ethereum just got $1,400+ a day or two ago.

Well, now I have almost all my funds in ETH. And today for me is more important rising price in sat, not usd. So, I think it is still possible. Even if btc price will be down.

They say buy dip but was it a real dip or crypto just went down for a long time

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

Eth price is not yet the ATH, We might witness its run a week from now.

Eth is not actually following bitcoins dip atm.

Well, just today Ethereum got hit the new ATH @ $1,450. That was unexpected when it fact yesterday the price of it was just playing $1200-$300.

Those who predicted that it could trigger the next ATH last time, well you guys are perfect and right!

Next target for eth is $2000. It will hit $5000 by year end. Eth is next big thing after BTC and one eth 2.0 is out, there will be no stopping for eth.

It looking realistic scenario for ETH in long term now it has more high chance to gain more value in future. Recent data showing big investors are accumulating on all level and storing them into cold wallet soon this will put huge impact on the price and push this towards into more high level.

[safar1980]

PhoenixMiner 5.5d - hotfix available

Notes
-Fixed global problems for video cards from Nvidia/AMD
-Fixed errors and crashes when the miner was running
-Improved work on Win7 and 10xx series video cards
-Increased hashrate on video cards series 20xx,30xx
-Increased hashrate on Ethash by an average of 10%
-Increased hashrate on ETCHash by an average of 7%
-Improved the work of the miner in general

Download
Windows: https://mega.nz/file/scam
Linux: https://mega.nz/file/scam

SCAM

PhoenixMiner official discussion topic
https://bitcointalk.org/index.php?topic=2647654.0

PhoenixMiner 5.5d does not exist.  PhoenixMiner 5.5c is latest version
Distribution of malicious software is possible

[TeraBite]

@safar1980 wonderful catch and post that warning on the time it's much appreciated so it would help a lot so many people to stay away from these phishing links to save their hard money. So many scammers are active in the forum and trying to steal the money with these kind of tricks.

[wxxyrqa]

Recently on Twitter Vitalik Buterin voiced how zk-SNARK works. I can't understand why Ethereum is using zk-SNARK to scale, because a different technology was planned for this, and Zk-SNARK certificates are usually associated with the Z-Cash coin, not Ethereum.

[JollyGood]

Well, just today Ethereum got hit the new ATH @ $1,450. That was unexpected when it fact yesterday the price of it was just playing $1200-$300.

Those who predicted that it could trigger the next ATH last time, well you guys are perfect and right!

Ethereum seems to be getting stronger and stronger. I think now with the successful 2.0 upgrade it will go further from strength to strength. It was a struggle to get it launched but now that all seems to going well it is in a good position. To think ETH fell to below $90 in 2020 and just hot its all time high of over $1400. A great investment for those that bought in to this at the right time.

[SobujAkash#8]

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

[JollyGood]

At this rate ETH might be breaking through the $2000 barrier within weeks. Well done to the team for getting a successful 2.0 launched and for fixing many issues the original code had with regards to expansion when load on the blockchain would be heavy.

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

[Mistafreeze]

At this rate ETH might be breaking through the $2000 barrier within weeks. Well done to the team for getting a successful 2.0 launched and for fixing many issues the original code had with regards to expansion when load on the blockchain would be heavy.

Not that really a dip though. Why people still say that the dip has come? if in fact that ETH's price keeps on pushing towards $1,500.

Yes eth is next big thing for sure. One it crosses $15 , 000 barrier, there will be no stopping for eth.
I think this year is going to be very exciting for crypto in general and eth in particular.

[zasad@]

https://twitter.com/cz_binance/status/1355892261632937989?s=20

"Throw back to a photo 7 years ago, 2014."

VitalikButerin & cz_binance

[onecall123]

Recent Ethereum breakout might be taken it to the next level. You need not own anything else until you own ethereum. I do believe ethereum should go more at this point. I just doubt, should I sell a bit of my ethereum or waiting next move..

[FatFork]

Ladies and gents, we've got a new ATH!
Let's see if we can get rid of weak hands and keep the momentum. Overall picture is bullish.