ETC mining is more profitable than ETH mining... ETC DEAD ?

[Sy]

There is an eip that will reduce a 4gb dag to 2.5gb making all 4gb and 3gb cards to work again, might help with the 51% attack as it will cost more to do a 51% attack but as the attack costs more the reward of doing it is also greater. So not sure if it really will help it.

Agree, but it might also increase hashrate high enough so that doing a 51% would be difficult. By the way, do you have the proposal number for the said EIP? I would like to read more about it.

https://github.com/ethereumclassic/ECIPs/issues/368

The good thing about it, is this " it's a good temporary 51% attack solution as it modifies ethash enough to invalidate hashrate available on nicehash et al.".

Thanks for the EIP link. Let's see what happens next for ETC but for now, I am out of ETC both trading-wise and mining can't risk another attack because it will definitely hammer the price.

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[bitcoinnami]

I see that etc are not dead yet. It is likely that it will still grow and will go to the moon soon

[Metroid]

Thanks for the EIP link. Let's see what happens next for ETC but for now, I am out of ETC both trading-wise and mining can't risk another attack because it will definitely hammer the price.

I would not touch etc at all at moment, not worth, too many uncertainties. Yeah after the etc team devs do something about the 51% then I can think about it. However I have not seeing or see any future for it at all, time will tell.

[Arkann]

Recently on Twitter, I came across a discussion about the possibility of combining Ethereum and Ethereum Classic and that after the update of Ethereum 2.0, there will be no problems with this. Of course, if the owners are not against such a merger. But after the transition to ETH2.0, mining as such will no longer exist, since every ETH owner can join staking and receive passive income for storing a certain amount of Ethereum. Guys, what do you think about this?

[safar1980]

There is an eip that will reduce a 4gb dag to 2.5gb making all 4gb and 3gb cards to work again, might help with the 51% attack as it will cost more to do a 51% attack but as the attack costs more the reward of doing it is also greater. So not sure if it really will help it.

I don't think it will be better for miners. As soon as 4GB video cards cannot mine ETH, they will increase the hashrate for ETC and kill the profit.
And statistics says that 48% of AMD video cards on the Hive pool have 4 GB of memory.
https://hiveos.farm/statistics_ru

[Metroid]

There is an eip that will reduce a 4gb dag to 2.5gb making all 4gb and 3gb cards to work again, might help with the 51% attack as it will cost more to do a 51% attack but as the attack costs more the reward of doing it is also greater. So not sure if it really will help it.

I don't think it will be better for miners. As soon as 4GB video cards cannot mine ETH, they will increase the hashrate for ETC and kill the profit.
And statistics says that 48% of AMD video cards on the Hive pool have 4 GB of memory.
https://hiveos.farm/statistics_ru

Yeah, too much hash on ethash, any mineable coin will have a significant drop on revenue after 4gb is done mining eth.

[adaseb]

There is an eip that will reduce a 4gb dag to 2.5gb making all 4gb and 3gb cards to work again, might help with the 51% attack as it will cost more to do a 51% attack but as the attack costs more the reward of doing it is also greater. So not sure if it really will help it.

I don't think it will be better for miners. As soon as 4GB video cards cannot mine ETH, they will increase the hashrate for ETC and kill the profit.
And statistics says that 48% of AMD video cards on the Hive pool have 4 GB of memory.
https://hiveos.farm/statistics_ru

It won't be better for miners for sure. Because their miner reward is just way too low. However many people who got free or very cheap power are going to mine it anyways. It will most likely be more profitable than EXPANSE is right now.

Look at how many people were still mining ETH when it was $80, there was still tons of hashrate on the network and most likely this will happen also to ETC after they lower the Epoch DAG.

This is actually pretty smart because the only other solution would of been to switch the algo but it would of been too difficult and ETC would definitely not be Ethereum Classic then.

[alexrossi]

Depositing on coinbase is requiring 91000 confirmations (15 days....) I probably should change exchange, but I must admit, this is really annoying.

[fmz89]

with so many confirmation, took so long to got reward, many farmer wont take risk even 20% more profit
in this very moment even eth took many hours to send eth from cli-lite wallet
so many defi deploy in eth, sometimes miner got big reward.

[adaseb]

I haven't tried this but another solution is just to margin short ETC on Binance, right now the rate is 7.30% anum, according to,

https://www.binance.com/en/margin-fee

And when your coins finally confirm on Coinbase you can close the short. You lose a little in fees and the funding rate but that way if ETC manages to lose > 20% it won't be a loss to you. However its still risky since the Coinbase deposit transaction can get re-orged and you would lose those coins anyways and your short would be open.

That and in the past the fees to borrow ETC on Binance have been higher as a result of this. So far it doesn't seem worth the headache and might as well stick to ETH mining.