Are people really that ignorant?

[philipma1957]

First off pos is a ponzi scheme . Mr V has delayed it now until late 2022.

It is very simple pos can not work long term and is not even a crypto coin.

It is an imagination based on thin air.

Mr V has delayed going to Pos for years. He will continue to delay.

The key here is simple if the lower fees cause a big jump in Eth price to 5-7k.

All will be well for even more mining time.

So the first hurdle is getting past fee reduction in July and seeing if it boosts eth upwards over 4 and 5 k into the 6-7 range.

If it fails and eth tanks bigly.

Then maybe just maybe Pos is possible.

And frankly if it happens that way it will still not happen until Nov-Dec 2022.

So fear right now is not needed.

[adaseb]

ETH was suppose to go POS way before 2017, it was suppose to go live with POS at around Summer 2016. I remember because in those days I still had old R9 280X gpus and they hashed at 20MH/s and the new RX series at the time hashed at 30MH/s and used almost half the power.

The R9 280X used like 200 Watts and hashed at 20MH/s while the RX 480 8GB used like 140 watts but hashed at 30MH/s. The GPUs weren't too expensive however I was hesistant because there was talk about ETH going POS.

5 years later and I am still waiting for this POS.

[Philipma1957cellphone]

ETH was suppose to go POS way before 2017, it was suppose to go live with POS at around Summer 2016. I remember because in those days I still had old R9 280X gpus and they hashed at 20MH/s and the new RX series at the time hashed at 30MH/s and used almost half the power.

The R9 280X used like 200 Watts and hashed at 20MH/s while the RX 480 8GB used like 140 watts but hashed at 30MH/s. The GPUs weren't too expensive however I was hesistant because there was talk about ETH going POS.

5 years later and I am still waiting for this POS.

And when fall of 2022 arrives they will do another delay.

Most people do not understand why pos is so terrible

Which is why mr v delays the switch to it.

[Didz]

OP so many people feel less concerned about the pending ETH PoW algorithm because ethereum team can't be trusted until they did what they promised, do you know how many years it's been since when ETH team have been promising proof of stake algorithm ??

I started mining back in 2017 and Eth POS was supposedly coming within 6 months, so yeah I understand.  It's like the boy who cried "wolf"  After a while nobody listens anymore.  But my point is that when and if it happens, it will be the end of gpu mining for 99% of people.  Of this there can be no doubt.  The gravy train will reach it's final terminus the day Eth goes POS.  So don't expect the salad days to go on forever.

it's already impending for time. they are even delaying it again i think by dec 2022. by 2022 they might again announce a delay because hey we're in transition to greener energy. maybe ETH will also be affected by this transition. if you have mined ETH since 2017 i guess you already have more than 32 ETH for POS node. 

just so your GPUs not goign to waste,  isn't XMR profitable as well for GPU miners?

Actually, based on whattomine.com in date of June 5th, Monero or XMR has a negative profit of -$0.54 for 3 GPUs 480 with an electricity cost of 0.1 $ Kw/h.

[Lucky - Luciano]

beside losing opportunity  to sell GPUs at inflated price, what are the loses for miners?

The losses are: money spent on electricity for mining, loss of part of the capital invested in equipment, loss of real estate that some sold to buy mining machinery, inability to repay a credit to build expensive equipment and finally, a loss for a bullet with which he will kill himself the one who can no longer repay the large overdue credit payments. There are more losses, e.g. to be left by a woman for a failed "investment." Many people mistakenly think that the crypto world is a good "business". However, it’s a bit of a gamble, a bit of a “business”. If you don't know the boundaries, you're nowhere to be found.