ETH 1559 and 2.0: Update and Timelines

[Ardvark69]

The panel is in 2 weeks. I hope everyone can attend. Its vitally important that miners keep up to date with what's going on.

1559 in Summer, likely late Summer.

It seems like the fee burning is set.

I am pushing for compromise, basically the Devs can offer miners something that helps make up for the loss. The Devs do seem open to a gesture to satisfy miners and this panel does show that they are considering our opinions which is great. It does seem that the backlash from miners has resulted in an opportunity for us.

A few are being discussed and this list isn't comprehensive:

Increasing the DAG to 5-7GB to eliminate ASIC's.

ProgPow, again to eliminate ASIC's (this is less likely)

Increased base fee, a base of 3 that drops to 1.5 by 2.0

Obviously its unclear how beneficial eliminating ASICs would be to current miners. It could be that we suffer now but long term without mass produced ASIC's we may make more. I'm not sure how the other pools will react though, especially the pools that have the majority of ASIC's as their customers. Please note that I have only listed the options that are being discussed the most, it doesn't mean that I am supportive of them.

Now for 2.0, estimates are for 9-18 months after 1559 which puts it at May 2022-Feb 2023. So lots of time for us to mine and prosper! And a lot of time for a new coin to appear. I personally believe crypto is going to become much larger than it is today.

The live stream link is here:

https://www.youtube.com/watch?v=EdXhL6VR0mU&feature=youtu.be

[1714175074]

1714175074

[hellscreamer]

 

A11 is 8GB like a GPU

[btcshiner]

The panel is in 2 weeks. I hope everyone can attend. Its vitally important that miners keep up to date with what's going on.

1559 in Summer, likely late Summer.

It seems like the fee burning is set.

I am pushing for compromise, basically the Devs can offer miners something that helps make up for the loss. The Devs do seem open to a gesture to satisfy miners and this panel does show that they are considering our opinions which is great. It does seem that the backlash from miners has resulted in an opportunity for us.

A few are being discussed and this list isn't comprehensive:

Increasing the DAG to 5-7GB to eliminate ASIC's.

ProgPow, again to eliminate ASIC's (this is less likely)

Increased base fee, a base of 3 that drops to 1.5 by 2.0

Obviously its unclear how beneficial eliminating ASICs would be to current miners. It could be that we suffer now but long term without mass produced ASIC's we may make more. I'm not sure how the other pools will react though, especially the pools that have the majority of ASIC's as their customers. Please note that I have only listed the options that are being discussed the most, it doesn't mean that I am supportive of them.

Now for 2.0, estimates are for 9-18 months after 1559 which puts it at May 2022-Feb 2023. So lots of time for us to mine and prosper! And a lot of time for a new coin to appear. I personally believe crypto is going to become much larger than it is today.

The live stream link is here:

https://www.youtube.com/watch?v=EdXhL6VR0mU&feature=youtu.be

You act like every one knows about this panel.  Please elaborate on what the panel is, the people on the panel and the agenda.  Thanks

[Bitbtc8]

A11 is 8GB like a GPU

Increasing DAG won't keep some asic miners off, look at RX570 with 4gb, people still find ways around this cards to make 25mhs out of them when DAG is already over 4GB, solution could come for asic miners with 4GB memory.

[adaseb]

Why would they want to eliminate ASICs exactly? To prevent them from dumping ETH? The rewards will just go to the GPU miners which will do more or less the same. Most ASIC farms are large corporations with lots of capital, they hold on to their mined ETH and BTC. Usually they sell when there is a bull market and not in a bear market.

GPUs miners are more home oriented and gamers. They basically need to sell their ETH at whatever price is at market to pay for their GPUs and electricity. They got less capital than large farms. Also like the above poster has said, some ASICs are 8GB anyways so there is no point in rising the DAG to eliminate them.

[PerfectCircle]

I hope vitalik knows what he is doing this time around, I am a gpu miner but I don't want asic miners to go because I believe it will affect Ethereum value, gpu miners are mostly dumpers, they only hold if bear market forced them to, don't f**k this up buterin

[KuromaYoichi]

Increasing DAG size to 5-7GB won't help and it will eliminate a lot of 6gb card like 1060, 1660, 2060, 5600 alongside with old asic. And then we still have a new asic like Innosilicon A11 which has 8 gb of vram so the one that will be impacted the most are the small miner so i don't like the increasing dag solution. Also if the team refuse to remove the burning fee, then, it would be nice to raise the base block reward, 2 to 3 eth per block would be welcomed.

[yobigd20]

No way the gpu mining community would back a DAG size increase. We’d be shooting ourselves in the foot. Almost half of all nvidia gpus currently mining are 6gb, including the most efficient gpu on the market, the 5600xt which is a current generation gpu.  The older eth asics are not significant in numbers and are not even more efficient as the latest generation gpus so no real threat there. More profits and more dollar per hash buying gpus instead.  The newer asics and ones coming out this year and next all have 8+gb already and are actually on par with the 5600xt from a cost to performance level and less attractive due to their enormous entry cost and $0 asset at the end of their life cycle.   The only thing DAG size increase accomplishes is chopping out a significant portion of the gpu mining base while tilting the network towards faster takeover by late model 8+gb asics.   The mere idea of it is pretty absurd since it does the opposite of what it’s supposed intended purpose is.  But truth came out the other day that the proposer of it just announced a partnership with asic manufacturers, so the cats out of the bag and massive conflict of interest obviously.

[arielbit]

fork off the ASICs hehe.

NVIDIA should  "MicroStrategy" and "Tesla" ethereum  

it is a good idea...here's why.. ASICs are pumping new units into the ecosystem, it is just right to phase out their older units, this way ASIC dominance of the network will be trimmed for now.

[Metroid]

fork off the ASICs hehe.

NVIDIA should  "MicroStrategy" and "Tesla" ethereum  

it is a good idea...here's why.. ASICs are pumping new units into the ecosystem, it is just right to phase out their older units, this way ASIC dominance of the network will be trimmed for now.

trolls are delusional as always, thinking eth devs will fork asics out hehe

It's funny, when eth was in the bear market i have not seen anybody from eth dev team saying they would burn gas fees, now that the eth dev team is seeing eth miners getting something back to compensate last 3 years of negative profit, now they want to stop that hehe

Trust me as soon eth gets back into the bear market again, this eip is history. This eip only benefits miners in the bull market anyway.

[arielbit]

fork off the ASICs hehe.

NVIDIA should  "MicroStrategy" and "Tesla" ethereum  

it is a good idea...here's why.. ASICs are pumping new units into the ecosystem, it is just right to phase out their older units, this way ASIC dominance of the network will be trimmed for now.

trolls are delusional as always, thinking eth devs will fork asics out hehe

It's funny, when eth was in the bear market i have not seen anybody from eth dev team saying they would burn gas fees, now that the eth dev team is seeing eth miners getting something back to compensate last 3 years of negative profit, now they want to stop that hehe

Trust me as soon eth gets back into the bear market again, this eip is history. This eip only benefits miners in the bull market anyway.

they won't fork out ASICs but it is a good idea to remove the ROI'd equipment in the ecosystem 5-7gb of ASICs and GPUs.

ASICs are part of the ecosystem they put money in and they will put money out. when bear market comes fewer mining competition is still better for miners

while newer ASIC's 8gb still have the opportunity to ROI.

but again..it is all talk and idea..mine on and grab money as many and as fast as you can folks!!!

[adaseb]

Yes I am pretty sure Metroid is spot on. Remember ProgPOW? They dedicated tons of research and money into progPOW and it was 99% suppose to go live and what happened last minute? They decided against the research and left everything the way it is.

Most likely if ETH was hitting all time highs back then they would go for the fork to eliminate ASICS and make it a more level playing field. Either way I don’t think the ProgPOW would of eliminated much ASICS because when the Antminer E3 went offline the hashrate hardly changed. Back then the newer ASICS didn’t exist yet.

[philipma1957]

Yes I am pretty sure Metroid is spot on. Remember ProgPOW? They dedicated tons of research and money into progPOW and it was 99% suppose to go live and what happened last minute? They decided against the research and left everything the way it is.

Most likely if ETH was hitting all time highs back then they would go for the fork to eliminate ASICS and make it a more level playing field. Either way I don’t think the ProgPOW would of eliminated much ASICS because when the Antminer E3 went offline the hashrate hardly changed. Back then the newer ASICS didn’t exist yet.

Progpow and 9gb dag combined would really shake shit up.

Actually they should do nothing. The hashrate has been growing 29th in last 10 days.

Just keep everything the same for 100 days.

Float five ideas 💡 that could be done in 100 days including nothing.

keeps everyone guessing. makes it harder to plan.

The last thing eth needs is certainty as it will crash shit it you lay out a certain plan. Today. or next week.

I like five plans to be laid out and say we may pick one of these plans.

keep it uncertain.

[arielbit]

why not 10gb dag? let's remove the 3080's too hahahhaha

[FP91G]

Before discussing anything, you need to see its specification in EIP form
For instance:
https://eips.ethereum.org/EIPS/eip-3238
EIP 1559 has been under discussion for a very long time, so any other change to the network will not be quick.
Difficulty Bomb will start soon, so perhaps canceling it will be a good compromise for miners to support EIP 1559

[murgorx]

I'm fine with implementing EIP 1559 as long as they implement the 1057 too and eliminate the ASICs out of the game : https://eips.ethereum.org/EIPS/eip-1057.

If the ETH devs could compensate us in that form, I would strongly support the 1559 EIP !

Is there a way we could make a petition to the DEVs anyway? Are they even listening to their community or they are a small group of centralized developers, implementing whatever suits their needs the best??

[bitquad]

Why would they want to eliminate ASICs exactly? To prevent them from dumping ETH? The rewards will just go to the GPU miners which will do more or less the same. Most ASIC farms are large corporations with lots of capital, they hold on to their mined ETH and BTC. Usually they sell when there is a bull market and not in a bear market.

GPUs miners are more home oriented and gamers. They basically need to sell their ETH at whatever price is at market to pay for their GPUs and electricity. They got less capital than large farms. Also like the above poster has said, some ASICs are 8GB anyways so there is no point in rising the DAG to eliminate them.

I am guessing to increase profits for GPU miners so they don't stop mining Ethereum. This will ensure more decentralization. If GPU miners leave because ASIC is the only way to make profit because of better power efficiency reasons then Ethereum could be at risk of suffering a 51% attack / double spending. Which would be disastrous for Ethereum.

[FP91G]

Why would they want to eliminate ASICs exactly? To prevent them from dumping ETH? The rewards will just go to the GPU miners which will do more or less the same. Most ASIC farms are large corporations with lots of capital, they hold on to their mined ETH and BTC. Usually they sell when there is a bull market and not in a bear market.

GPUs miners are more home oriented and gamers. They basically need to sell their ETH at whatever price is at market to pay for their GPUs and electricity. They got less capital than large farms. Also like the above poster has said, some ASICs are 8GB anyways so there is no point in rising the DAG to eliminate them.

I am guessing to increase profits for GPU miners so they don't stop mining Ethereum. This will ensure more decentralization. If GPU miners leave because ASIC is the only way to make profit because of better power efficiency reasons then Ethereum could be at risk of suffering a 51% attack / double spending. Which would be disastrous for Ethereum.

Most miners will mine the most profitable coins. Therefore, if someone decides to leave, then their profit will go to those miners who remain.
51% attack is now impossible, because it is difficult to find so much mining equipment