Will miners ever rally behind ETHW?

[CryptoSperm]

It seems like they went against their interests and abandoned any support for it immediately.

[1715390023]

1715390023

[1715390023]

1715390023

[1715390023]

1715390023

[adaseb]

I think the two biggest issues and why it never took off was due to bad timing and never gaining a Binance listing. When it launched it dumped to like $5 and a few days later it rallied up to $15 but it stalled when trading didn’t get a Binance listing.

Then it did nothing for a few weeks and the FTX scandal made it even worst. So far it pumped a little to almost $5 but who knows if it will ever be a big hit. What it needs is a Binance listing and I can see it going to $50.

[FP91G]

Miners will support the coin that will give a guaranteed profit. Not many miners will be mining at a loss, expecting $50 in the next bull run. This coin is perfectly mined on old video cards, but the high cost of electricity prevents many miners from using old video cards.

[theskillzdatklls]

I think the only way ETHW ever has a chance at anything is if the POS fork for whatever reason completely fails beyond repair. But at that point, it might be a toss up as to whether or not ETHW or an "ETH Killer" become the successor.

I view any of these cases as extremely unlikely.

The entire point of the initial ETHW was just a cash grab though. The miners didn't care about POW. They just wanted to keep making money, obviously.

[FP91G]

The fork of the 7 year old coin reduces the value of the coins miners receive. More than 100 million coins in circulation appeared after the fork. Who will believe that the capitalization of this coin will exceed 5 billion if we expect a price of $50?

[rdluffy]

In my opinion it is difficult to have a rally now with the current scenario.

1 - ETHW needs to show that it has developers, that it has projects running and that it will be of real use.
2 - If the above happens, the tendency is for the price to rise.
3 - If it is profitable the miners will go for the coin.

Expecting a rally, without any of these above happening, is almost impossible.

Another possibility is a bull run of all cryptos and a pump of ETHW, then miners will turn on their rigs again and point to most profitable ones.

[adaseb]

I think the only way ETHW ever has a chance at anything is if the POS fork for whatever reason completely fails beyond repair. But at that point, it might be a toss up as to whether or not ETHW or an "ETH Killer" become the successor.

I view any of these cases as extremely unlikely.

The entire point of the initial ETHW was just a cash grab though. The miners didn't care about POW. They just wanted to keep making money, obviously.

This wouldn’t happen. The reason why is because before ETH forked to POS it forked first on all their test net chains. They did it to test stability and if any issues would arise. If there was an issue they delayed it. Hence why the fork to POS was smooth.

I am very surprised that Binance never listed the coin. Probably pressured by ETH devs. They didn’t want an ETC event again I guess. And that is the main reason why it’s struggling right now. Eventually most will abandon it for ETC.

[swogerino]

It seems like they went against their interests and abandoned any support for it immediately.

I was seeing the large transactions in Ezil.me pool and many other pools and I was seeing transactions well over 20.000 ETHW coins,this to me looks like the big miners which I assume are big farms that have resumed their mining activity so far supporting it,we saw the spike in price for this coin from under 3 dollars to well over 5 dollars in the past couple of days.It looks like this coin is well alive and supported by miners,I am also one of the small miners that mine it for a hobby but if it happens to reach 300-500 dollars this coin those guys that mine over 20.000 coins in a month will be billionaires,so yes miners so far have this as the best choice to follow.

[FP91G]

It seems like they went against their interests and abandoned any support for it immediately.

I was seeing the large transactions in Ezil.me pool and many other pools and I was seeing transactions well over 20.000 ETHW coins,this to me looks like the big miners which I assume are big farms that have resumed their mining activity so far supporting it,we saw the spike in price for this coin from under 3 dollars to well over 5 dollars in the past couple of days.It looks like this coin is well alive and supported by miners,I am also one of the small miners that mine it for a hobby but if it happens to reach 300-500 dollars this coin those guys that mine over 20.000 coins in a month will be billionaires,so yes miners so far have this as the best choice to follow.

I did not notice a big increase in profit when the price increased to $5. Even at a price of $10, mining will be unprofitable, because the number of mines will probably increase. Miners still have a lot of unsold video cards, and until these video cards are distributed on the market, there will be no coin price pump.

[Grim]

ETHW like DCRN or RVC is forked/created by the asic companies themself just so their machines can keep on hashing aka free money machines.

You guys fall for this over and over again since 2012.

I like PoW but the ASIC companies treat the community like shit, the only answer for a fair Pow algo is:


ProgPoW or RandomX

or

Precomputed hashes saved on HDDs (PoW with HDD space).


The only ASIC distribution that works half assed is for Bitcoin itself (sha256d),
for everything else you get gamed.


So let me ask you a question: How can miners (plural) gather behind eg. ETHW when ETHW is 99% mined by a single entity aka the ASIC manufacturer.
Sounds like an oxymoron.

[FP91G]

I don't see many ASICs
https://2miners.com/ethw-network-hashrate

This chart has other data, but we will see the arrival of ASICs.
https://minerstat.com/coin/ETHW/network-hashrate

[Grim]

I don't see many ASICs
https://2miners.com/ethw-network-hashrate

This chart has other data, but we will see the arrival of ASICs.
https://minerstat.com/coin/ETHW/network-hashrate

Once again you are naive and you are being played. 

[o48o]

I see more changes with them going for Ethereum classic if it is paying to mine it. However i hear that doesn't have any developers either. And i can't see any whales backing up ETHW like they did with ETH classic. Nor any sane developer would stick with dead ETHW and lose the possibility of huge community.

[swogerino]

I see more changes with them going for Ethereum classic if it is paying to mine it. However i hear that doesn't have any developers either. And i can't see any whales backing up ETHW like they did with ETH classic. Nor any sane developer would stick with dead ETHW and lose the possibility of huge community.

Etherum Classic was the original Ethereum that got breached and as such the devs of Ethereum that is PoS now named it Ethereum while the original fork who got breached continued with the name of Ethereum Classic.Both of these coins have a lot of time in the market while ETHW is relatively new with just near 6 months in the market and we have to give it time at least another year to see how it will go.The fact that there are a lot of large farms mining it even at a loss is a great sign that we may as well see some significant price increase for it while it shows that a lot of miners still support it.

[badbart]

Any eth algo will get destroyed by ASICs.  E9 is now $1,299 no reason not to buy one if you mine ethw

[swogerino]

Any eth algo will get destroyed by ASICs.  E9 is now $1,299 no reason not to buy one if you mine ethw

In theory you are right but I believe many of the people owning the previous version of it running at 2.4 Ghs are already pointing it to Ethereum Classic as they have huge processing power and so far to be honest the ETC is better maintained compared to ETHW that is why we still see a low difficulty for the ETHW less than 300 T while for Ethereum Classic is up to 7 times more or something on those lines,so even if people buy the new E9 at almost 4 Ghs they will most likely point to Etherum Classic.

For my personal opinion anyone getting such device should point it 2 weeks in ETHF(Ethereum Fair) about 1.5 months in ETHW and then switch it to ETC.This can prove to be the best strategy for the long run.

[Grim]

ETC needs to fork to ProgPoW but it seems like they have an agenda as well.

[swogerino]

ETC needs to fork to ProgPoW but it seems like they have an agenda as well.

ETC is well maintained and they have always promised to stay PoS resistant and always on the PoW style.This is enough to attract many new investors and or miners but miners are already there as the hash rate mainly transferred to this coin after ETH moved to PoS in September 2022.

I think true decentralization though and fighting the ASICS is only being done by the Raptoreum project as they use an algorithm that changes every now and then and as such making it ASIC resistant.For me they are a good team and I am waiting when their devs will allow 2-3 programming languages to build apps on this network,then the price will skyrocket,it is better go collect as many coins as we can now that they are easy to make and mine.This project together with ETHW,ETHF,and ZIL are my main ones that I am actively participating and mining them.

[adaseb]

I think its the other way around with ASICs. If there is a profitable algo, some company like Bitmain will spend millions developing the ASIC chip to make an ASIC possible. They did this with dual mineable coins like DCR and SIA because the profitability was there.

However they will not create a coin out of scratch just to make an ASIC for it. It takes millions to fabricate these chips these days. Its only worth doing on algos which have decent profitability. I think newer technology for ETH Dagger algo will be halted. Most likely all the chips which were fabricated to the day it went ETH POS will be put into production. But in the near future I don't think anymore money will go into the developement of more efficient ETH ASICs because the profitability just isn't there.

[Grim]

Once again ETHW and many other forks are done by the asic conglomerate.