So I’ve decided once Ethereum goes fully POS I’m going to stop supporting Ethereum completely. Anybodu given any thought as to what they are going to do when this happens?
It doesn’t matter what is going to happen then ! I put my thoughts towards those who value us miners ! Why waste your thoughts on those who don’t. Nothing you can do about it anyway.
I always look at the long term goal. The goal was to decentralize the crappy banking system and bring some privacy back. Lets focus on that !
No centralized system will ever be safe or beneficial to us, so why help them keep it up.
The word ‘system’ comes from ancient Rome. When they brought the water into the cities with their aqueducts. They then thought of a method to clean up the shit in the streets. They invented the sewer and called it the ‘System’.
Its us, that keep all the systems up. Its time to stop cleaning up after them !
Well, I expect there will be a lot of cheap graphics cards up on E-bay… unless some other GPU mineable coin shoots up in price
Just swap to ETC or RVN or something and keep on trucking.
That won’t be possible without a massive increase in coin prices. The only reason they are profitable at all is due to low difficulty. when the hashrate goes up 40-50X, people with normal power costs won’t be able to profit. Something needs to change in the meantime or profitable GPU mining will be a thing of the past once ETH goes full POS.
Ethereum abandoning POS and abusing miners?
Help is alway near, let’s remember Ethereum Classic was/is the very original Ethereum and are still run by the folks who are passionate about PoW (and believe they can improve it to consume less power in the near future) and welcome GPU miners with open arms.
FYI, Ethereum Classic just upgraded their network last night (Thanos upgrade) implementing the MESS finality algorithm which secures the network against 51% attacks (like the two they had just this year). And to increase preventative measures, they are doing all they can to increase the number of nodes participating in the network. First, by reducing the DAG size and enabling less than 4GB GPUs to restart mining. Just last night at the moment of the switch, 1TH or so was added to the network.
"The Thanos hard fork is the natural next step for the network, reducing the DAG size to help cultivate a more distributed and healthy mining ecosystem, increasing hash rate, and allowing for miners to continue mining ETC and for new miners to join the ecosystem.”
They also have additional (welcome) innovations for programmers of other languages (who aren’t too keen on Solidity) by implementing LLVM compilers. Awesome progress if you ask me. Here’s some interviews from the ETC Labs teams so you know how they feel about “Ethereum” and their ETC tech roadmap.
Personally, I’m now supporting ETC. Reference links below.
pos? what is that
Proof of Stake. Ethereum will no longer be a mineable currency in a couple years.
The next alt coin to mine will be ?
Zcoin, Ravencoin, Cortex, Ellisium, MimbleWimble
Or Nicehash, it will auto choose the algo