Eth Pow algo isn't going away anytime soon

[Ceyflix-Rez]

It doesn't seem like eth pow algorithm is going to end ever because big Asic companies are building new Asic miners, for example the upcoming antminer E9 which has the power of 32 RTX3080, isn't that insane?  , well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?

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[mindrust]

It doesn't seem like eth pow algorithm is going to end ever because big Asic companies are building new Asic miners, for example the upcoming antminer E9 which has the power of 32 RTX3080, isn't that insane?   , well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?

Vitalik made a deal with Jihan/Bitmain long time ago. You are right PoW won't go away for a while probably. It doesn't really matter at this point though. I don't think anybody cares if ETH is PoS or PoW. As long as the price go up everything is fine.

[Skinny48]

I've stopped worrying myself about how long PoW algorithm bis going to keep up on Ethereum blockchain because of different reasons, the only thing that I hoped for now is fixing gas fee and also mining remains profitable atleast in this bullish market

[DaveF]

And if it does go POS so what. There are other coins that it can be used to mine. Might not be as profitable but they are out there. For a while after XMR changed their POW the original miners were still profitable since the other cryptonight coins were still worth it to mine.

This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....

-Dave

[FloridaKid]

And if it does go POS so what. There are other coins that it can be used to mine. Might not be as profitable but they are out there. For a while after XMR changed their POW the original miners were still profitable since the other cryptonight coins were still worth it to mine.

This might actually be a edge case. IF the GPU market stays constrained then it might be better to drop $64,000 on 32 RTX 3080 mine with them and then sell them off.
IF the GPU market gets better. Then, your screwed. But, with the GPUs you can at least switch to something else. If the E9 comes out and then difficulty spikes and then POS comes along. Then your screwed and can only mine a more limited subset of coins.....

-Dave

Are you sure that other Proof of work coin can handle the who hashing power from Ethereum? I don't think so mate, not even Ravencoin can, it's better if Ethereum team work something out for both Pow and PoS algorithm to co exist together on ETH network

[Bitbtc8]

There are many other coins to mine if Ethereum proof of work goes down today, stop worrying yourself over things you completely have no control over, lets wait till july and see if ETH team will kill PoW algorithm from their project or they will come out with better plan, I believe that eth will remain the same for many more years

[adaseb]

Back in late 2015, people were talking about not stocking up on GPUs because in the Summer of 2016 the protocol is going to shift to POS and it’s risky buying GPUs.

So 5 years later and no POS. I think you are better off just buying the gear and if an EIP comes out which points to POS being completely launched then you can sell off the GPUs.

What is coming up is a hybrid type of setup. So most likely for 2 years you can mine ETH.

[badbart]

But profits are taking a hit.  Hash is rising and price is falling, might start to get rough.  More asics with a reward reduction is going to make eth a lot less profitable.  Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.

[philipma1957]

But profits are taking a hit.  Hash is rising and price is falling, might start to get rough.  More asics with a reward reduction is going to make eth a lot less profitable.  Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.

cheap power works until bitmain floods the market with its 3300 mh miner. pulls only 2800 watts.

this answer why the eth hash rate has kept up as it crushes the s19pro in $ per dollar.

link to its youtube video


https://www.youtube.com/watch?v=nNFa-HKTV4Y




twitter link

https://twitter.com/Antminer_main/status/1382880172563632129/photo/1

[micro4lpha]

It does feel like it’s dropping fast. Feels like too many miners for the price.

[generalt]

But profits are taking a hit.  Hash is rising and price is falling, might start to get rough.  More asics with a reward reduction is going to make eth a lot less profitable.  Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.

cheap power works until bitmain floods the market with its 3300 mh miner. pulls only 2800 watts.

this answer why the eth hash rate has kept up as it crushes the s19pro in $ per dollar.

link to its youtube video


https://www.youtube.com/watch?v=nNFa-HKTV4Y




twitter link

https://twitter.com/Antminer_main/status/1382880172563632129/photo/1

I find myself wanting these new E9 miners but as always what's going to be the cost and how long are they going to mine with them first before shipping them out to us. 

[arielbit]

But profits are taking a hit.  Hash is rising and price is falling, might start to get rough.  More asics with a reward reduction is going to make eth a lot less profitable.  Unless you can get cheap ASICs with cheap electricty I wouldn't add any new hardware.

cheap power works until bitmain floods the market with its 3300 mh miner. pulls only 2800 watts.

this answer why the eth hash rate has kept up as it crushes the s19pro in $ per dollar.

link to its youtube video


https://www.youtube.com/watch?v=nNFa-HKTV4Y




twitter link

https://twitter.com/Antminer_main/status/1382880172563632129/photo/1

I find myself wanting these new E9 miners but as always what's going to be the cost and how long are they going to mine with them first before shipping them out to us. 

they will sell at the top of the bull run or the beginning of the bear market LOL

[cabron]

Despite Greta's disapproval yes and I  think some miners are also looking for options like solar mining. Its amazing how they planned to have both algo though because sooner as just what they are talking about is that we can also do stake ETH to earn from it which basically also like mining.  There could be more threads about which one makes more money like ETH stake or just mining.

[adaseb]

Well its like a repeat of 2018 again I guess. Hashrate back in late 2017 started to go up like crazy. Basically I looked at the numbers of chips that AMD and Nvidia produced per quarter and it didn't add up to the amount of hashpower that entered the market back in 2017. Something was up.

Then months later it was revealed that Bitmain has somehow managed to make an ETH ASIC miner called the E3. When they released it the prices were already tanking and they sold it for top dollar pretty much, no idea if you could even ROI if you paid the $2K price tag.

Seems like deja vu again.

[Metroid]

Seems like deja vu again.

yeah, even a new eth asic has now surfaced, we all know bitmain made it public, https://www.techpowerup.com/281471/bitmain-releases-antminer-e9-ethereum-asic-with-performance-of-32-rtx-3080-cards

gpu mining is done for with this, let the idiots pay 5x the msrp of gpus then resell for 5x less than what they have paid as soon as this crashes hehe.

one way or the other gpu mining will be done for, imagine all that eth hashrate into other pow coins, eth has been asic haven for quite sometime.

[Gorosden]

Seems like deja vu again.

yeah, even a new eth asic has now surfaced, we all know bitmain made it public, https://www.techpowerup.com/281471/bitmain-releases-antminer-e9-ethereum-asic-with-performance-of-32-rtx-3080-cards

gpu mining is done for with this, let the idiots pay 5x the msrp of gpus then resell for 5x less than what they have paid as soon as this crashes hehe.

one way or the other gpu mining will be done for, imagine all that eth hashrate into other pow coins, eth has been asic haven for quite sometime.

I'm just wondering how many people have already said what you're saying right now in past years, new ASICS means the end for its remaining I don't think so, since 2017 many ASIC miners comes around and yet here we are, anyways I planned on selling my graphics cards next month because I believe that's the best time to opt out of this ETH mining menace and I plan on selling those GPU on eBay for higher price

[arielbit]

3090 is done.

Only 200mhs cards with hbm/hbm2e can be profitable with cheap electricity.

Nvidia is planning to make one and amd radeon vii will have a successor.

These gpu makers can compete with these asic makers if they want to. Let's hope they can push it to 300mhs hehe.

[Ardvark69]

It doesn't seem like eth pow algorithm is going to end ever because big Asic companies are building new Asic miners, for example the upcoming antminer E9 which has the power of 32 RTX3080, isn't that insane?  , well this means that pow is staying, the hardest than eth team can come up with is splitting up Pow Eth and PoS Eth, what do you think?

More like ASIC companies are selling off their machines they were using to mine themselves (which is a bad sign).

That being said with the Open Eth client failing despite passing all checks on testnets they will need to develop a better testnet that reflects main net conditions before any major changes are made. It was a very bad sign that one of the 4 clients failed and it would have been much more horrendous had it been Geth that failed.

I give it even odds that 1559 and 2.0 are delayed slightly as those are much bigger changes than Berlin and require a testnet that reflects the mainet before implementation. You don't risk a 300+ billion dollar coin to save a couple of months.

[Metroid]

lol, this is so much fun, if bitmain disclosed this asic publicly then it means they have a 10 times better hidden somewhere in their warehouse hehe, they will sell these old asics for a lot and then they will crash the market, just like they did to bch in 2018, they rise eth and btc price a lot, then first, sell all these asics at the peak making billions of usd then dump all the eth and btc they bought past months at top.

[FP91G]

The Russian board discusses more productive miners from Innosilicon
https://bitcointalk.org/index.php?topic=5331354.0

https://www.alibaba.com/product-detail/Shenzhen-asl-Ipollo-V1-6000mh-eth_1600059336002.html
Hashrate: 6000GH 
I have no data on the number of ASICs produced, but this seems to be a huge problem for mining on video cards