ETH Mining equipment

[Milan1009]

Hey Fam. Wanted to know what are you going to do with your rigs and overall mining equipment now that Merge is incoming.

It must be hard for some people that made the sacrifices needed to have the mining equipment on point for the ETH mining and now it's time to do the switching, wanted to know how did you guys prepare for this, even tho there seem to be some transitional solutions, in the end, PoS is here to stay.

Some proposals from the community and more info could be found in this article:

https://twitter.com/thetokenist/status/1565627368156418048?s=20&t=ms4fh3NrS6Ur5WiAgE3vUw

[sp_]

Ethereums total hashrate of 923.48 THS/S is equal to

13 992 121  NVIDIA A40 (datacenter GPU's) (14 million gpus)

99.9% of the Ethereum energy consumption of the ethereum network (Same power consumption as Switzerland) would be not be removed, but transferred to a different purpose. Blockchain AI

After Ethereum goes POS, the speed of one "A40 equivalent" will go for $50-$100 secondhand market. instead of the listing price of $5 299. 00

[FP91G]

You have an interesting way to calculate the hashrate.
But you forgot that a lot of old video cards are involved in mining. The new PTX 3000 series has a very small share.
https://hiveon.com/statistics/
Data center GPUs are not used in Ethereum mining due to the high price and weak hash rate.
So most old graphics cards will be sold on the market.

[philipma1957]

Ethereums total hashrate of 923.48 THS/S is equal to

13 992 121  NVIDIA A40 (datacenter GPU's) (14 million gpus)

99.9% of the Ethereum energy consumption of the ethereum network (Same power consumption as Switzerland) would be not be removed, but transferred to a different purpose. Blockchain AI

After Ethereum goes POS, the speed of one "A40 equivalent" will go for $50-$100 secondhand market. instead of the listing price of $5 299. 00

923.48 th is

923480 gh


x 10 is 9,234,800 rtx 3080 cards

reality is some of them are rtx 3080

many are other gpus and some are asics.

what will happen to all that hash it will shift some to ethW some to etc some to raven

some will sell cheap on ebay.

things will be in huge free fall.

eth’s decision to go pos will go down as the greatest lemming march  off a cliff ever done.

I give mr v.b. my best wishes for continued health. as i think he will likely have neck issues looking over his shoulders day after day.

[swogerino]

There are people who will buy it and even mine at a loss,a thing which I will definitely do as soon as the prices of good cards goes to 80-150 USD for the Rtx 2060 super at 43 Mhsh each and with low power consumption too.I will not care how much crypto I will make as long as I will make something,probably with these new cards I will point the hash rate to the unmineable pool and mine my favorite coin.So far I have seen these at 200-250 USD at ebay so most probably after the merge they will go down dramatically more and that is the right time to buy.

[adaseb]

Most likely there is going to be crazy volatility in 6 days when the merge goes live. Its also the day that the inflation numbers are released and this will play a great deal on the stock markets which the crypto markets are correlated too.

I am guessing its going to be a sell the news event. Most likely many are buying ETH to get the free ETHPOW token and many will dump right after the merge.

As for GPU prices? No idea. Depends how many ASICs were actually on the network.

[philipma1957]

Nivida and Amd will put a huge hurt on eth by swapping 1,000,000 eth for millions of etc

crushing eth and pumping etc.

remember 72 million premined coins vs 15 million staked coins.

The market cap of nvidia + amd + intel is well over 500 billion dollars.

they will put a hurt on eth and boost etc to help their sales.

1 million eth at premined prices was only about 250,000 cost.
10 million eth at premined prices was only about 2,500,000 cost.

20 million eth at premined prices was only about 5,000,000 cost.

Eth and mr v.b will be risking a huge dump of coins and pump to etc.

this move is easy peasy in fact my guess is an absolute crushing dump of eth which will happen around sept

20.  they already practiced an etc pump and did 32 to 40 easy peasy.

remember 1 eth is about 45-50 etc

to swap eth into etc is a natural move for

Amd
intel
nvidia
gigabyte
asus
corsair
evga
seasonic
octominer
multiple asic miners

to name a few.

they have zero to gain by staking eth
they have tons to gain by swapping eth into etc.

this pos fool mr v.b. is putting eth up against the world of pow

around with 15 million staked coins
against 72 million premined coins and a grand total of around 108 million coins not staked.

[joniboini]

In my local area, some of the miners that I know of decide to switch to ETC, while others will sell some of their equipment and keep some of them for future use. It is fair to say that most of them will likely end up in the secondhand market at a very low price. I'm not sure about Nvidia and AMD pumping ETC, at least with AMD they don't rely too much on mining to sell their cards, they focus more on their consoles. But it is definitely not going to stop some whales or somebody else to make ETC more attractive to mine.

[swogerino]

Beside the equipment for the whole Europe the energy crisis is looming and in October where I live in eastern Europe we will get x4 increase of price if we exceed like 700 kwatt which is easily surpass-able if you have a mining rig on all the time.So this will be an impeding factor and maybe it will cause the prices of the cards to not fall but to fall in a very dramatic way,I will still buy them and it will be good for the buyers because we can by more cards for the same amount of money.I think the crisis will end in March and everything will be back to normal.

[FP91G]

Profit comparison of 1080Ti-4080 Ti graphics cards
https://woolypooly.com/en/gpu-compare/nvidia-gtx-1080ti-vs-nvidia-rtx-2080ti-vs-nvidia-rtx-3080ti-vs-nvidia-rtx-4080ti
An interesting profit comparison and a good mining calculator on the pool website. I really liked this opportunity for comparison.
Interesting data will be after the completion of ethereum mining.

[devil2man]

I personally will not sell my mining equipment, my gpu / rigs after the merge of eth but i will probably continue mining etc albeit with much less profit

[philipma1957]

In my local area, some of the miners that I know of decide to switch to ETC, while others will sell some of their equipment and keep some of them for future use. It is fair to say that most of them will likely end up in the secondhand market at a very low price. I'm not sure about Nvidia and AMD pumping ETC, at least with AMD they don't rely too much on mining to sell their cards, they focus more on their consoles. But it is definitely not going to stop some whales or somebody else to make ETC more attractive to mine.

Well if there had not been 60+12 million pre-mined and free to developer coins

I would have more faith that 15 million pos coins can control the price of eth.

To me it seems like a large dedicated swapping move of eth to etc will sifht eth mining to etc mining with very little pain to miners
and a ton of pain for pos stakers.

[FP91G]

ETC network hashrate:   52TH
https://minerstat.com/coin/ETC/network-hashrate?
Let's bet what the hashrate will be on this coin 3 days after the end of the start of ethereum mining. 3 days will be enough for large miners to be able to update ASIC firmware and start mining. My opinion is that this figure will approach 150 terahesh.

[adaseb]

Yes most people don't realise that ETH had a huge premine which was sold as an ICO back in 2014. And one thing I don't understand is how its not considered a security when it had an offering.

BTC clearly had no premine or ICO. You had to mine it or buy from someone who mined it to get BTC. Ethereum had a huge premine. Now the coins that are released per day as mined ETH are nothing compared to the ICO premine sale back from 2014.

[swogerino]

ETC network hashrate:   52TH
https://minerstat.com/coin/ETC/network-hashrate?
Let's bet what the hashrate will be on this coin 3 days after the end of the start of ethereum mining. 3 days will be enough for large miners to be able to update ASIC firmware and start mining. My opinion is that this figure will approach 150 terahesh.

That means we should see a triple fold increase in difficulty also but not as soon as 3 days,still it is a huge increase,now it is at 668 T but most likely we can see 2 T in difficulty according to your bet if it comes true and that will drastically reduce the daily,weekly and monthly rewards from mining ETC.What can a miner do in such a situation,most likely I am going to shut down my miners not because of this difficulty increase but because we will have a 5x increase in our electricity rate for a couple of months in winter.

[FP91G]

Yes most people don't realise that ETH had a huge premine which was sold as an ICO back in 2014. And one thing I don't understand is how its not considered a security when it had an offering.

BTC clearly had no premine or ICO. You had to mine it or buy from someone who mined it to get BTC. Ethereum had a huge premine. Now the coins that are released per day as mined ETH are nothing compared to the ICO premine sale back from 2014.

Many cryptocurrencies have gone through ICOs and the US Securities and Exchange Commission may recognize them as shares. Are they also waiting for the fate of Ripple?

That means we should see a triple fold increase in difficulty also but not as soon as 3 days,still it is a huge increase,now it is at 668 T but most likely we can see 2 T in difficulty according to your bet if it comes true and that will drastically reduce the daily,weekly and monthly rewards from mining ETC.What can a miner do in such a situation,most likely I am going to shut down my miners not because of this difficulty increase but because we will have a 5x increase in our electricity rate for a couple of months in winter.

if the profit drops by 10 times and the electricity price rises several times, then any miner will probably decide to turn off the equipment.

[philipma1957]

or a huge whale simply starts swapping eth to etc and

eth tanks while etc rises greatly in price.

60 million premined and 12 million given to developers.

50 million mined

of the 122 million above only 15 million staked.

It wont take much to tank eth if some has enough eth to swap into etc

1 million eth buys 50 million etc

that would drive the price of etc way way way up.

If this move happens it will be in Oct or Nov.

all in all the next 3 months will be very very interesting.

[adaseb]

Many cryptocurrencies have gone through ICOs and the US Securities and Exchange Commission may recognize them as shares. Are they also waiting for the fate of Ripple?

Yes I never understood why they never considered ETH as a security. My only guess is that its mineable currently and maybe because if ETH was sued by SEC then most likely all of crypto will crash and alot of capital is invested in ETH and BTC. They are mostly doing it to protect the investors.

Why they sued Ripple I still don't understand because there are many currencies such as Ripple. And its crazy how that lawsuit is going all these years. Pretty much lawyers are the only ones making money.

[Boriss]

or a huge whale simply starts swapping eth to etc and

eth tanks while etc rises greatly in price.

60 million premined and 12 million given to developers.

50 million mined

of the 122 million above only 15 million staked.

It wont take much to tank eth if some has enough eth to swap into etc

1 million eth buys 50 million etc

that would drive the price of etc way way way up.

If this move happens it will be in Oct or Nov.

all in all the next 3 months will be very very interesting.

Did you see ETH development path for the years to come?
Most of new stuff is around the corner, merge is just prerequisite for new economy model nothing more.
People are to much focusing on one point and forgetting about bigger picture.

Eth will tank in price right after the merge, people with big bags will buy some more eth cheap, people with small amounts will sell in the first sign of price drop.
Few years ahead you will not be able to enter ETH train with same amount of money, we saw that with BTC.

[FP91G]

What will happen with GPU mining after Ethereum forks to Proof of Stake?

This means that Ethereum’s computational power (hashrate) will be either removed (rigs will be shut down) or transitioned to other projects that are listed below Ethereum. The ASICs on Ethereum will probably move to mining Ethereum Classic. We will see a huge growth in ETC nethash and difficulty.
https://www.nicehash.com/blog/post/what-will-happen-with-gpu-mining-after-ethereum-forks-to-proof-of-stake?lang=en