September is already here

[summer8]

It seems like if not mining ETH, most are doing ETC or RVN. Is there a 4th most popular?

[rdluffy]

Not gpus but I think you meant asics and I think you are right, there are too many 5gb asics that stopped working recently and I assume that is why eth network hashrate decreased. The truth here is x profit, etc at moment gives 2x less than eth, no sane miner with gpus with more than 5gb would change to etc.

I know about Jasminer and Innosilicon A10pro, both 5GB asics
Is there more?
If I remember correctly, the Bitmain E9 have 6Gb (and probably hundreds of them mining right now)

I'll try (not a promise haha) to make the math of the exacly moment ETH hit 5GB dag size and compare with the drop in hashrate, we can have some clue

I confess I'm very curious to know about the percentage of Asics in the network

[adaseb]

Well from what I recall I don't think there are any AMD gpus which are 5GB. Nvidia however has a few GPUs which are 5GB however I don't think they are popular with miners. Most are holding the 8GB variants of those GPUs.

So since an ASIC has much higher hashrate than a single GPU, it explains the sudden drop we got in the last few days or so. Makes you question, how many ASICs are actually running behind the ETH blockchain. Given this drop it seems to substantial.

[GEMIN_M4]

Well from what I recall I don't think there are any AMD gpus which are 5GB. Nvidia however has a few GPUs which are 5GB however I don't think they are popular with miners. Most are holding the 8GB variants of those GPUs.

So since an ASIC has much higher hashrate than a single GPU, it explains the sudden drop we got in the last few days or so. Makes you question, how many ASICs are actually running behind the ETH blockchain. Given this drop it seems to substantial.

I almost sold out all my 6gb graphic cards because of this but since the original Ethereum is going to PoS it won't be needy anymore and as for the new PoW ETH its probably going to take longer to exceed 6GB memory.

[popeye95]

Well from what I recall I don't think there are any AMD gpus which are 5GB. Nvidia however has a few GPUs which are 5GB however I don't think they are popular with miners. Most are holding the 8GB variants of those GPUs.

So since an ASIC has much higher hashrate than a single GPU, it explains the sudden drop we got in the last few days or so. Makes you question, how many ASICs are actually running behind the ETH blockchain. Given this drop it seems to substantial.

I almost sold out all my 6gb graphic cards because of this but since the original Ethereum is going to PoS it won't be needy anymore and as for the new PoW ETH its probably going to take longer to exceed 6GB memory.

And if you decide to switch to ETC, the 6GB DAG file of ETC will take a very long to hit that limit. Your 6GB VRAM is safe, do not let anyone try to fud you with the DAG limit, selling your cards for cheap because of the low 6GB VRAM. Efficiency is more important to DAG thanks to ETH pulling the POW plug.

[Coinfarm ventures]

Does anybody plan to speculatively mine GPU coins after PoS, even if the 'paper profit' is a few pennies per day per card? If revenue < power cost, I obviously will turn my rigs off.

The alternative to mining is to sell the cards then buy coins. That doesn't seem like a bad deal since video card prices are still above MSRP, but coin prices seem to be low. I doubt my cards would be able to produce the same amount of coin in the next 24 months compared to just selling them now.

[adaseb]

Well obviously there is no point if it costs more to mine when you can just buy it directly instead. I am sure many will wait and see. Those that wanted to sell their GPUs already did so. Most miners now are waiting and seeing what will happen.

Maybe ETC will appreciate in value, maybe some other coin will.  Now most don’t know exactly what will happen. Either way should be an interesting September.

[philipma1957]

Well obviously there is no point if it costs more to mine when you can just buy it directly instead. I am sure many will wait and see. Those that wanted to sell their GPUs already did so. Most miners now are waiting and seeing what will happen.

Maybe ETC will appreciate in value, maybe some other coin will.  Now most don’t know exactly what will happen. Either way should be an interesting September.

Or a last minute pos delay will happen and we get 100 more days of pow.

[sp_]

Binance announced today that they will support the ETH POW fork.

With the current price of $50 for the futures, we can expect the network to start at more than 50THASH of Ethash and become the largest gpu minable coin in the world. The price is volatile and is trading at $50-200. (50-200THASH estimated network hashrate).

An estimated 2.5%-10% of the total ethereum hashrate will move to Ethereum POW after ETH goes POS.  At 150-200THASH the Etherum POW hashrate will be the same as Ethereum had in in the summer of 2020. This hashrate is expected to increase as more investors, developers, traders and miners move away from the declining POS chain.

After the Merge the blockchain will split in two giving you bonus coins (Ethereum POW).

You will only receive bonus coins if you own Ethereum at the point of the merge. (15% of the supply is locked in the staking pool and will be deleted in the new POW fork). Make sure that your wallet support ETH POW or move your coins to a wallet where you have access to the private keys.

After 15 september:
POS (ethereum coin) ($1700 a coin) (Will be supported by those who believe in POS)
POW (ethereum coin) ($50 a coin)  (Will be supported by those who believe in POW)

Ethereum POW Coins can already be traded on 9 exchanges with a 1:34 difference in the price at 1 MUSD volume per day. (Futures)

What's the difference between ETH and ETHW?
Is it a fork?
And will there be two currencies after the Merge will take place?

It is a fork that not yet has happened. (ETHW will fork around 15 september)

Ethereum POW and ETHW is the same thing.
The sourcecode has removed the difficulty bomb, removed POS code, removed some of the stablecoin adresses/ tornado cash adresses/ and hacked accounts. Implemented replay protection to make sure the new blockchain can co-exist with the original Ethereum.
The work is stil in process, and more will be added.

If you have ethereum on any of the supported exchanges at the forking date, you will receive the same amount of ETHW(Eth POW) as ETH. Ethereum owners who have locked their funds in the staking pool will not receive coins in the new POW fork. This meens that the Ethereum POW will have 15-20% less coins than the original Ethereum.


Twitter:
https://mobile.twitter.com/ethereumpow
Sourcecode Github:
https://github.com/ethereumpow/

Supported Exchanges (25.08.2022)

Poloniex: https://poloniex.com/spot/ETHW_USDT
Gate: https://www.gate.io/ru/trade/ethw_usdt
Mexc: https://www.mexc.com/exchange/ETHW_USDT
Phemex: https://phemex.com/spot/trade/ETHWUSDT
Bitrue: https://www.bitrue.com/trade/ethw_usdt
Digifinex: https://www.digifinex.com/en-ww/trade/USDT/ETHW
CoinW: https://www.coinw.com/front/fastTrading?symbol=1027
Bitfinex: https://trading.bitfinex.com/t/ETHW:USD

When buying ETHW futures you will receive the same amount ETH POW after the fork on the 15th of september.

[FP91G]

Every day, Ethereum gives miners more than $10 million, and at the best of times this reward was several times more. Which coin after the end of ethereum mining will give at least 10% of this amount? Ethereum classic gives miners about $600,000 a day.

[zbutterfly]

I saw a reference in https://www.asicminervalue.com/ there are several ASIC tools that are specifically for mining etc and are very profitable. It says it can be used for mining etc and eth, I think etc is a suitable substitute for eth.

[OgNasty]

So it seems September is the last month we will be able to mine Ethereum, what's next to do with our mining rigs? I believe Eth is the most profitable and Ethereum Classic is just trying to catch on, what do you believe in this stage? Can ETC be just as profitable as ETH.

I'm not sure what will happen.  I suspect the network will fork and there will be some support for ETH_PoW but likely not enough to support the amount of miners that would be mining it.  That will likely lead to other coins like Ravencoin getting some additional hashrate.  I'm very curious how this will effect the market though and what will happen to not just all the mining equipment, but to the prices of the remaining PoW coins.

[sp_]

Every day, Ethereum gives miners more than $10 million, and at the best of times this reward was several times more. Which coin after the end of ethereum mining will give at least 10% of this amount? Ethereum classic gives miners about $600,000 a day.

Why not?

The Private Nordic "sentient" blockchain powered AI POW network is paying much more than $10 million a day.

[adaseb]

Every day, Ethereum gives miners more than $10 million, and at the best of times this reward was several times more. Which coin after the end of ethereum mining will give at least 10% of this amount? Ethereum classic gives miners about $600,000 a day.

Yes and this is what most new miners don’t understand. They think that if today ETH makes them $20 a day while ETC makes them $10 a day. They are thinking after the merge that “I can mine ETC and $10 a day is still lots of money for me”.

They don’t realize that the supply is capped and controlled by difficulty. The more miners the more the reward will have to be split. Unless ETC all of a sudden has higher network fees due to erc20 tokens and NFTs on their network but I am pretty sure that won’t happen.

[FP91G]

Every day, Ethereum gives miners more than $10 million, and at the best of times this reward was several times more. Which coin after the end of ethereum mining will give at least 10% of this amount? Ethereum classic gives miners about $600,000 a day.

Why not?

The Private Nordic "sentient" blockchain powered AI POW network is paying much more than $10 million a day.

AI requires other graphics cards like Tesla and more expensive hardware. And the equipment that most miners have does not fit these tasks. This topic has been discussed many times, but there are no ready-made solutions. If you have information on how to rent your video cards to them, please write.

[sp_]

AI requires other graphics cards like Tesla and more expensive hardware. And the equipment that most miners have does not fit these tasks.

This is not true
Nvidia RTX cards are perfect for AI, but the mining rig will need more than 4gb of memory, a larger hdd and a fast internet connection.

[CryptoATM]

This is a very tough question, Ethereum has the biggest mining hashrate after BTC and right now there is no other altcoin capable of taking in all that heavy hashrate, I think after the merge many miners will give up, sell their machines and move on, ETC is not capable because people don't care about the project as they do with Ethereum, no smart contracts are running on ETC.

[sp_]

no smart contracts are running on ETC.

No Smart contracts are running on the Bitcoin chain either, but still 2-3 times more valuable than Ethereum.  

[Metroid]

no smart contracts are running on ETC.

No Smart contracts are running on the Bitcoin chain either, but still 2-3 times more valuable than Ethereum.  

Based on the stake itself, eth devs always believed btc to be 33 times more valuable than eth, as per the stake the 32 eth was chosen based to be worth 1 btc. So in that sense as this is still pre bear market eth has to crash a lot more and that is what I believe, there is still too much hype on eth yet because of the eth 2.0 but as soon as that fades away then we will see the real price of eth, I would not be surprised if eth crashes below 0.03 btc and goes below 0.016 btc like we have seen on the 2018 crash. This eth move to pos could be the death of eth itself, never go full retard and invest all in it, need to apply caution here.

[adaseb]

no smart contracts are running on ETC.

No Smart contracts are running on the Bitcoin chain either, but still 2-3 times more valuable than Ethereum.  

Based on the stake itself, eth devs always believed btc to be 33 times more valuable than eth, as per the stake the 32 eth was chosen based to be worth 1 btc. So in that sense as this is still pre bear market eth has to crash a lot more and that is what I believe, there is still too much hype on eth yet because of the eth 2.0 but as soon as that fades away then we will see the real price of eth, I would not be surprised if eth crashes below 0.03 btc and goes below 0.016 btc like we have seen on the 2018 crash. This eth move to pos could be the death of eth itself, never go full retard and invest all in it, need to apply caution here.

Didn't realise that was the reason, was always curious why "32". Always assumed it had something to do with those games that the ETH devs were playing, since many of the ETH forks are named after some game levels.

Either way, I remember back in 2015-2016 when ETH was not doing so well. Many of the ETH devs were selling their ETH and buying BTC and the foundation itself I think held a large portion of BTC.

This is proof that, BTC is still king.