Ethereum Mining question

[bitsnbits]

I was told this from a group that sells bitcoin miners and didn't want to supply and ethereum miners. Is this true? I was looking to buy a several more ETH miners, but if this is true, that's not good.


"Over the next two months EIP1559 will be cutting ETH mining revenue in half over the next two months due to TX fee burning. "

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[FP91G]

EIP1559 will really cut miners' profits, but we still don't know by how many percent. I've seen different calculations of 20-40%, but I don't know which one to believe. Ethereum mining is still very profitable, but the next delivery of new ASICs will only be in a few months, that is, after the developers have to launch a new hard fork with EIP1559 support.

[Zotak337]

The new ASICS says it all, even if EIP 1559 affects mining reward ASIC miners like the new E9 will be profitable still so GPU miners will be the ones to either add more GPUs or quit but few people really believe that PoW is done on ETH network but I don't

[bitsnbits]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

[StonieMalony]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

[btc-room101]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

Nobody knows its an internal war, certainly POS is oligarchy while POW is equitable to little guys, but what difference does it make when there is a Chinese ASIC for all 10k shit-coins

Lot's of way to deploy  your gpu rigs, I use them to hack bitcoin and once I turn off all my ETH miners, and deploy them to hacking btc, it will be a blood-bath of lost coins, In the past I kept my best cards like rtx-3070 where I can make good money earning ETH, but if they come out with a bitmain ETH miner, then our gpu rigs are worthless, they already have Z-asics, so zcoins are out, there is essentially nothing left other than hacking btc for profitablility

Lastly a lot of people are just moving over to ETC ethereum-classic, as its the real deal, but doesn't have the $$$

IMHO there should be a ETH-CLASSIC2, where they fork right now, an the miners all move to this, that way we get the best of all worlds modernized ETH, but don't move to Proof of SNAKE ( rich guys controlling crypto )

[bitsnbits]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

Nobody knows its an internal war, certainly POS is oligarchy while POW is equitable to little guys, but what difference does it make when there is a Chinese ASIC for all 10k shit-coins

Lot's of way to deploy  your gpu rigs, I use them to hack bitcoin and once I turn off all my ETH miners, and deploy them to hacking btc, it will be a blood-bath of lost coins, In the past I kept my best cards like rtx-3070 where I can make good money earning ETH, but if they come out with a bitmain ETH miner, then our gpu rigs are worthless, they already have Z-asics, so zcoins are out, there is essentially nothing left other than hacking btc for profitablility



---- so why would GPUs become worthless when the ASIC miners come out? The GPUs still do the same tasks that they did before - ASICS will just do them better and earn more ETH more efficiently. Would GPUs somehow produce a ton less? Everyone is competing with everyone and if you're in a pool, then it's aggregated and split up based on hash rate?
Lastly a lot of people are just moving over to ETC ethereum-classic, as its the real deal, but doesn't have the $$$

IMHO there should be a ETH-CLASSIC2, where they fork right now, an the miners all move to this, that way we get the best of all worlds modernized ETH, but don't move to Proof of SNAKE ( rich guys controlling crypto )

[adaseb]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

Are you talking about the tokens on the ethereum network like USDC or USDT or other ERC 20 Tokens or are you talking about other POW coins like Litecoin and Dogecoin and Monero?

Because when ETH goes POS you won't be able to mine ETH at all, so the fees from people doing ERC20 transactions will go to the POS. And you can't mine ERC20 coins, not possible.

But you can still mine other coins like Litecoin or Dogecoin or Monero and you can even mine ETC which uses the same algo (pretty much) as ETH.

[mak013]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

If you are talking about different tokens - they will work correct. But decisions about how it will work changes too much times, so we`ll see how it works only at start.

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

ETC is not ETH. They even have different algos now. But we have lot of products with ETH blockchain and nothing with ETC.

[Grim]

... certainly POS is oligarchy while POW is equitable to little guys ...

We have one who can see 

[btc-room101]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

Nobody knows its an internal war, certainly POS is oligarchy while POW is equitable to little guys, but what difference does it make when there is a Chinese ASIC for all 10k shit-coins

Lot's of way to deploy  your gpu rigs, I use them to hack bitcoin and once I turn off all my ETH miners, and deploy them to hacking btc, it will be a blood-bath of lost coins, In the past I kept my best cards like rtx-3070 where I can make good money earning ETH, but if they come out with a bitmain ETH miner, then our gpu rigs are worthless, they already have Z-asics, so zcoins are out, there is essentially nothing left other than hacking btc for profitablility



---- so why would GPUs become worthless when the ASIC miners come out? The GPUs still do the same tasks that they did before - ASICS will just do them better and earn more ETH more efficiently. Would GPUs somehow produce a ton less? Everyone is competing with everyone and if you're in a pool, then it's aggregated and split up based on hash rate?
Lastly a lot of people are just moving over to ETC ethereum-classic, as its the real deal, but doesn't have the $$$

IMHO there should be a ETH-CLASSIC2, where they fork right now, an the miners all move to this, that way we get the best of all worlds modernized ETH, but don't move to Proof of SNAKE ( rich guys controlling crypto )

Because the NEW ETH ASIC miners can generate 100X ETH over the GPU, so the GPU will have to move on, same thing happened when bitmain came out of Z-15 box, zcash, and horizen are now impossible to mine the profits went to zero

You can't compete with 10's of 1,000's of ASIC ETH miners, once they go online our GPU's earn ZERO from the pools.

Once all the ASIC ETH miners start running on our favorite pools, all us GPU miners will be feces on the street. The ASIC miners will be gods in the clouds.

Can't fight them join them, if your serious about mining ETH in the future, then order an ASIC box if your rich, and got connections. Tight supply as always.

[btc-room101]

... certainly POS is oligarchy while POW is equitable to little guys ...

We have one who can see 

Not really, all along the entire BITCOIN narrative has been BULLSHIT.

SatohsiNAkamoto is NSA, BIS-IMF designed bitcoin in 1997 white-papers, NSA released code in 2009, and mass adoption, so now TPTB takes control of their baby from the masses, what did you expect the outcome to be?

ETH&BTC are 99% the same thing, everything is a btc clone.


Privacy, cheap transactions, be you own bank, ... all the BS story's were all lies all along.

[btc-room101]

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

If you are talking about different tokens - they will work correct. But decisions about how it will work changes too much times, so we`ll see how it works only at start.

Thanks - when PoW is done, is that only for Ethereum or  is it also for all the other coins on that network?

it is good question ... I think it is only eth but I got no idea really ... I hope that ETC will remain mineable ... can somebody smart shed some light on it ?

ETC is not ETH. They even have different algos now. But we have lot of products with ETH blockchain and nothing with ETC.

The LISP in CHIA will destroy the bullshit ETH java-script hack.

I expect at ETH-3.0 with LISP, this would be the winner; Solid code running from the blockchain.

ETH can die, if they go POS, most will go to ETC in the short term, then ETH-3.0

BUTERIN can suck eggs, his deployment is shitware.

[batsonxl]

I think pos will make eth price higher. There is many investors traders hodls eth. pos is bad for miners only.

[Stanlo]

I'm really confused about Ethereum because I don't know what the team are really planing, EIP1559 will be introduced and will reduce mining reward, as if PoW algorithm is here to stay? How about going finally to PoS algorithm? Have ETH team got rid of this plan already?