Its more dangerous at least
Those smaller pools likely belong to the ASIC miner that was getting 50% of the blocks for a few weeks.
It looks like batch 2 sold out today.
4 month withdrawal delay? If I understood it properly, it means that you should wait 4 month before getting your stake back to normal supply. With such an enormous volatility risk is too high for 99,999% investors. Maybe some early adobters, who got their ETH from ICO and already sold a few, may afford this but not the majority. And 32 ETH is still ~15000USD or ~20 1080Ti. In 4 month with 3% annual interest staker gets 0.32 ETH. Fair reward? If you say that that lack of technical knowledge about GPU mining is a fence for new adobters, I’d like to tell that lack of economical knowledge about PoS mining is the Great Wall of China for new adobters.
I would love to see ETH price at that point.
Mike,
i didn’t say it was fair or good how ethereum make is. I posted it just as a response for:
- that they will soon get POS
- that it doesn’t need 1000 ETH
that was all i wanted to make clear with the post about the Ethereum POS details.
Me personally isn’t an Ethereum fan either so i’am not that much interested in how they will make it at all, but thinking about it and just in generally:
- 3% annual interest isn’t maybe much for you, but for investors it’s good having in mind that most banks in “secure” countries pay 0.0% - 1% at most.
- about the 4 month holding, i don’t think it’s a good idea either if it’s that exactly, no idea why they would choose such a long initial time.
- About the 32 ETH, i personally think they will lower it more, just a guess. 32 ETH is still pretty high and i agree that it is a bunch of money, but than again, maybe and eventuallly their purpose is to attract bigger investors and long holders instead of us “faster selling average joe” miners. Just a guess of course.
But i’am pretty sure, however they make it, it will work out for them. It’s the 2nd most known coin/token after Bitcoin and can build on that with pretty much evertyhing they come out.
However, in short. I don’t think ETH POS is one of the most fair ones, hence why i always say/think POS should be a lot of tweaked/improved/developed so everybody, even the guy with 1 coin, can use POS and be part of it.
And to be honest so far from all POS i have tried and tested some are really worse than bad in their current state, but some work out absolutly perfectly, but this woud be another topic.
According to this article you can expect a decision to come down regarding mining census rules by the end of October also other good stuff on there too
Interesting discussion. First no one complains of the sleezy amd , Nvidia and retailers like Newegg that have been robbing miners and gamers alike. second no one talks about their large GPU farms. It’s all about how sleezy bitmain is . Yes they are sleezy and sell boards based on the coin price. But so are some you that bad-mouth bitmain while beeing as sleezy as they are. You invested 1000s on gpus thinking Earth doesn’t rotate. It does. In crypto any plans over 3 month is gambling. Because of your success in the past few month means nothing. Have seen some business plans, including the one of a listed company, promising a world of profits. I never bought an Asics or GPU with an roi over 3 month. A biz plan is for a worse case scenario not a rosie one. So to all of you trying to stop innovation is time to head to eBay and start dumping your gpus. Like CPUs before, gpus for mining are dead.
If Zcash was just going to accept ASICs on the network, Why did they even use a ASIC resistant algo at the start. If ASICs are not a threat, and are helpful to the network, why didnt they use a ASIC friendly algo at the start? Ohh thats right, they needed GPU miners at the start to secure the network, but I guess we are not needed anymore.
Also why even use a algo that is suppose to be memory intensive to prevent ASICs, but then use a parameter setting that only uses 144MB of memory?(because reasons)… Then say in the future they plan on changing it to a more memory intensive parameter(2GB?), but keep pushing it off, and may never change it now.
Did they want ASICs from the start but needed GPUs at the beginning to secure the network? Why did they even use a ASIC resistant algo to begin with considering how they voted ASICs are here to stay after the first ASIC was released…Why such a flip flop on stance?
Atleast ATTEMPT to stay resistant, if even once, i mean really, At the first sign of a ASIC you already have given up with out even trying 1 or 2 small changes?.. Even if it only knocks the ASICs out for 3-6 months or bricks the current ones, its still a gain, it currently costs them much more R&D then a code update, especially if it was a planned quarterly update. It seems to me Zcash was caught with its pants down and hasnt even given resistance a thought before a ASIC came out.
5 Likes
I’ve been pointing out the same contradictions in this thread.
It would be extremely easy to tweak the Equihash parameters to get rid of the current ASICs and eliminate the advantage of future ASICs. Zcash indeed started with an ASIC resistant algorithm and stated they would fork if ASICs were made. To not even attempt a fork is to betray the people who bought GPUs to mine Zcash.
The only plausible explanation is that someone made Zooko and the Zcash team an offer they couldn’t refuse. Every pro-ASIC argument I’ve seen here is too asinine for someone as smart as Zooko to actually believe. Any intelligent person with an ounce of critical thinking will realize that the net effect of ASICs is to transfer block rewards from a decentralized community of GPU miners to handful of ASIC manufacturers. There’s nothing good about ASICs to those who aren’t ASIC manufactures or on their payroll. They don’t increase network security, lower power consumption, “make the network faster,” or any of the other things that ASIC supporters believe.
3 Likes
To show how much Nvidia cares they released mining specific SKUs, but only available from 4th party oems. They are also increasing pricing across the board. Haven’t done anything from the scalping of their hardware by distributors and oems. Ebay saw $1500 1080tis being sold in 1st quarter this year.
That’s your decentralization. Are you lining up for the 1180? Show your support and get 50.
1 Like
What exactly is the point you are trying to make? That Nvidia is just as bad as Bitmain or Innosilicon?
You are actively trying to get Asics off zcash and you campaign how bitmain is this evil nasty company. Yet you look away when Nvidia does it. You look away when small groups buy plane loads of GPUs. You look away when theres a GPU shortage and every mid size GPU farm is planning trips to shenzen so only they can get their hands on GPUs.
Bitmain reduced the price of the z9m most likely due to the competition and the reduced profitability they are projecting. Did Nvidia throw us a bone nope? They LET their oems rip off distributors and they in turn ripped off gamers and miners.
you want to talk about adoptability, well no one is going to buy 1180 when their return is at best $2 day and they will be priced $100 more msrp than the 1080. which means $200-300 more by the OEMs.
2 Likes
Sleezier. They made billions selling 1080s for more than twice the already high profit msrp
1 Like
So a couple of the highest end model of graphics cards (1070TI/1080TI) were hard to purchase for a few months because the demand was so high? You could still buy other graphics cards at the time, maybe not the current best.
And from what I have seen it was 3rd parties selling them for outrages prices, why are you blaming Nvidia for that? What is Nvidia suppose to do, they cant control what people price items at on ebay…
The decentralization is the millions of people who already own a gaming computer and graphics card, not needing to purchase specialized hardware from a shady business in china to contrbute to the network.
2 Likes
During the shortage, Nvidia was still selling units from there store at original prices, however they were only the single fan units and Yes they were sold out alot.
It was the 3rd party vendors who kept jacking the prices up, and people kept buying them. So whos fault is that? What is Nvidia suppose to do when people buy things from 3rd parties? Evidently people thought they were worth it at that price.
You are kinda right on that, but they also reduced it because it did not cost them 2000$ to make a unit, Nor does it cost them 850$. They were selling them at that price because once again, people were willing to pay that much, even if the item didnt cost them nearly that much to make.
Also Nvidia didnt drop their prices 50-75% because the production cost of the items they are selling are already close to what they are selling it for when they are released. They are not overpriced 100% hoping people will jump on the hype when they are first released.
2 Likes
Those people arent mining and if not all of them are on 1080tis then they are mining for what, $.50 a day? okay
Is that how we increase adoptability?
I thought one of the many reasons we dont like asics is they all come from one company (supposedly).
Well here you go you have multiple OEMs all colluding and overcharging out the ass. This is how you get people to mine for your coin?
what? are you saying nvidia is selling gpus at cost, ok im done.
Yes. The more people that have access to mining hardware the better, am I incorrect? Not everone needs to have the best and fastest GPU to mine with. Specialzed hardware from china sure doesnt help…
It wasnt collusion when the prices slowly went up over 2-3 months. People kept paying higher and higher prices, so they kept rasing them untill people stopped paying that much. Supply and demand, the demand went WAY up and supply stayed the same.
My point was they are not releasing them at 100% the price where they can just drop the price 50-70% 2 weeks after release…Name other items/companies that have done the same…
Let me guess amanalar, you purchased ASICs to mine Zcash with?
1 Like
Let me guess too, you have invested into gpus for your business and see now how more and more projects get POW mined by Asics and even more top coins switching(soon) to POS?
Yes, after seeing ASIC resistance coins, that is what got me into mining (was the huge selling point). I tried mining on my home CPU I used for gaming and found it was extremly easy to begin mining with the hardware I currently owned. So I eventually expanded because I can use the graphics cards for other things and mine on the off time.
Why dont people who want ASICs go mine ASIC coins? How is the profits on them nowdays? Is the why you are trying to invade non-asic coins too?
EDIT: And for a ASIC resistant coin to just say, we dont care about ASIC resistance anymore now that a ASIC has been released. It is kind of a backstab to GPU users.
6 Likes