News Ethereum Miners Can Keep Ruining PC Gamers' Days as 'The Merge' Gets Delayed

[Admin]

Ethereum's transition from the proof-of-work model that relies on miners to a proof-of-stake model has been pushed back.

Ethereum Miners Can Keep Ruining PC Gamers' Days as 'The Merge' Gets Delayed : Read more

 

[LolaGT]

Whoever thinks proof-of-stake is going to eliminate proof-of-work mining overnight(when it does come) has been misinformed.
PoW will still be a thing a couple years from now, regardless of what happens with Ethereum

 

[digitalgriffin]

Whoever thinks proof-of-stake is going to eliminate proof-of-work mining overnight(when it does come) has been misinformed.
PoW will still be a thing a couple years from now, regardless of what happens with Ethereum

The mining difficulty bomb will kill profitability. It's a two prong attack to the problem.

 

[Milla006]

Miners will keep buying GPUs as it will still be very profitable for other algorithms. We have no real knowledge on its impact if any.

 

[gargoylenest]

funny coincidence how they seems to wait that Intel release their GPU before changing...

 

[Im__A__Blimp]

Good. Keep delaying Proof Of Stake. The short form for Proof of Stake is PoS. This is not a coincidence. I don't know why people keep saying there is a GPU shortage. I know a place that's got thousands in stock. You've probably never heard of it. It's called eBay. Go buy a GPU. Do it now. Give'er ! I think the GPU market right now is great. It keeps network difficulty from going too high and profits are really good. Keep the trend going ! Sleep soundly tonight knowing that once eth goes PoS, there will be plenty of other coins to mine. Don't you worry your pretty little head about that. All is well in the GPU world today

 

[Arkz]

I love how the shortage is always blamed on miners and not a massive semiconductor shortage. I suppose the massive PS5 shortage is also cause of miners?

I'd be surprised if miners were more than 10% of the problem. Stock alert groups on discord helped me get my GPU for RRP back in April. I think a big part of it is scalpers. Using bots to buy the cards just like with PS5's. Then sticking them straight on ebay and the like with inflated prices.

 

[JarredWaltonGPU]

funny coincidence how they seems to wait that Intel release their GPU before changing...

It's precisely that: a coincidence. And it's not funny that I can tell. The proof of stake transition for Ethereum has been pushed back many times already. Because Ethereum operates on a consensus voting for what to implement in terms of major changes, and the miners hold a LOT of sway, they keep saying the developers should delay the PoS switch. The only reason this coincides with the Intel Arc launch date is because they both happen to land in early 2022 now. Well, except Arc will come out first.

For reference, here are some of the times Ethereum 2.0 with PoS was supposed to go live:

January 2020? Ha. Hahahahahaaaa.
December 1, 2020? Didn't happen.
Multiple dates in 2021 all "slipped."
Now we're into mid-2022.

Realistically, if we get Ethereum full PoS by 2023 I'll be relatively surprised at this point. Also note that every major network update is a hard fork. All that needs to happen is for another "Ethereum Classic" to branch off and say it will never have Proof of Stake and will be mining forever, and there's a reasonable chance the miners will make that a more usable cryptocoin than the main Ethereum branch. Which is part of why the PoS switch keeps being delayed — no sense in going somewhere new that more than half of the users oppose.

 

[TJ Hooker]

There are lots of other GPU-mineable PoW coins out there, but none of them have nearly the number GPUs mining them as Eth. Once Eth goes PoS, their will be a massive amount of hashing power going to all these other coins. Difficulty will jump, and profitability will plummet unless the price of these coins happens to surge at the same time.

 

[TJ Hooker]

For reference, here are some of the times Ethereum 2.0 with PoS was supposed to go live:

January 2020? Ha. Hahahahahaaaa.
December 1, 2020? Didn't happen.
Multiple dates in 2021 all "slipped."
Now we're into mid-2022.

I dabbled in eth mining during the big crypto run-up in late 2017/early 2018, and even at that point PoS was coming Soonᵀᴹ

 

[slappy6212]

Ethereum mining was really good but i already alternate the mining algo and pool between ETH and FLUX or others more profitable coins (there is a lot). GPU mining is not over. It's a new beginning ! I personally purchase a new GPU every 2 months and the process is accellerated...more GPU more profits, more profits more GPU....i will personnally transfer all my coins to FLUX coins and see what will happen in 2022 and 2023 when ETH will go to POS maybe the FLUX price will explode and i will be rich.
Happy mining to everyones !


Ex-Gamer and Ex-madvr user LOL

 

[renz496]

The mining difficulty bomb will kill profitability. It's a two prong attack to the problem.

Greed have a weird way making people optimistic. Even if they are there are bo guarantees some of them will continue to mine even on unprofitable coin thinking someday in the future the value will increase in a crazy way the same way it did with bitcoin or ether.

 

[digitalgriffin]

Greed have a weird way making people optimistic. Even if they are there are bo guarantees some of them will continue to mine even on unprofitable coin thinking someday in the future the value will increase in a crazy way the same way it did with bitcoin or ether.

Yes and no. The problem with crypto currencies is there is a new one every week it seems.

Everyone jumped on Netflix. Then Amazon. Then all the other companies wanted some of that money pie. The field quickly ignored the new comers. (Cbs/paramount, hbo, tbs etc). A few new ones thrived like Disney but there's a limited supply of money to hedge bets with more losers than winners.

This is how the tulip crash and junk bond crash happened. With so much non proven junk out there, investors lost confidence and the whole thing came crashing down.

Same thing will happen to crypto. Doge or maybe Monero or nice hash might survive. But their growth will be stimied in the long term I believe. People are too invested into etherium/Bitcoin to switch