URGENT: PoW ENDING. ETHEREUM MINERS BFTO'd

[Anonymous No.24380994]

Ethereum Class (ETC) is getting all the ETH miners to switch over sooner than expected!

I told you all in the last thread that ethereum miners would HAVE to move to ETC mining quickly. Many of you brainlets said it would be a 2 year transition (though even ethereum foundation said 1 year) NOW they are looking to push to PoS as FAST AS POSSIBLE. which is what I fucking told you.

Ethereum PoW ending very soon. Confirmed by Vitalik.

[Anonymous No.24381047]

OP >>24198022

[Anonymous No.24381548]

Vitalik

[Anonymous No.24381567]

>>24381047
Yes, ETC is an easy 3-5x from this.
The amount of tards that are sleeping on this obvious play is hilarious. Fucking free money.

[Anonymous No.24382121]

>>24381567
ETC is a dead coin that should go to 0, like all those worthless PoW coins

[Anonymous No.24382141]

>>24380994
>can't even type out "Classic" because of your extreme focus issues
>expecting me to listen to anything your drug addled mind has to say

[Anonymous No.24382145]

>>24382121
>cant we all just go back to rent seeking with our PoS invention
not going to happen rabbi

[Anonymous No.24382173]

>>24382145
he's right though, nobody builds anything or does anything on ETC

[Anonymous No.24382175]

PoW is all that gives crypto any value, good game sabotaging your own currency

[Anonymous No.24382183]

>>24382121
go to coingecko, what coin is the first? yes, a pow coin
keep seething

[Anonymous No.24382223]

>>24382173
I'm not a faggy "tech type" that argues php vs ruby.
Its simple to comprehend: Where is hundreds of millions (billions?) in ETH mining equipment going to go once ETH 2.0 goes full rabbi-coin?

[Anonymous No.24382228]

>>24382183
i should have added, except bitcoin

[Anonymous No.24382259]

>>24382223
>nobody wants ETC
>they switch to ETC, have to sell to cover electricity
>nobody's buying that shitcoin
>ETC crashes to 0

[Anonymous No.24382274]

>>24382223
how would more miners on ETC translate to higher coin price?

[Anonymous No.24382283]

>>24382223
Liquidation.
Most miners cant mine some shitcoin at a loss, nobody cares about ETC.

[Anonymous No.24382302]

>>24382259
as if they don't also have their fingers in other aspects of eth ecosystem which will switch in concert to etc....

this investing thesis isn't "etc is going to flip eth" its simply "etc is going to 3-5x current value in short term"

stay poor homo

[Anonymous No.24382318]

As fast as possible?
Nibba they been promising pos since 2016

[Anonymous No.24382336]

>>24382283
Based and true.
>muh mining is what drives crypto value

[Anonymous No.24382355]

>>24382302
>t. ETC bagholder who wants to exit his bag

[Anonymous No.24382359]

Can someone explain why a coin that has limitless supply like Ethereum have any value?

Not trolling, my crypto portfolio is

>70% Bitcoin
>15% XRP
>15% Linkies

And I always looked into getting Ethereum but there's no coded end of supply

[Anonymous No.24382375]

>>24382302
>just time the top so you don't get dumped on
Yeah, nah.

[Anonymous No.24382384]

>>24382259
this right here. pow creates downward pressure on prices due to miners selling. if demand is high enough, it will absorb the sell pressure (btc, eth). else it will tank the price until it's not profitable to mine anymore and miners move away to another network or turn off their gpus/asics/fpgas.

[Anonymous No.24382405]

>>24382359
>asking why eth has any value
>hold XRP and LINK

lmao

[Anonymous No.24382415]

>>24382359
there’s a high chance eth will become deflationary at some point in the future on 2.0 and no hard cap is more sustainable long term though its not as susceptible to cycles as BTC with its halvings
im still waiting for someone to explain how exactly more miners would make etc pump

[Anonymous No.24382419]

>>24382359
because what humans decide have value is a collective hallucination. a painting that looks worthless to you can be worth millions.

[Anonymous No.24382422]

>>24382359
One word: usability.

Practically no one uses Bitcoin or XRP for its intended purpose: as currency.

And LINK is still currently vaporware.

[Anonymous No.24382426]

>>24382175

distributed ledgers are more robust if there are many copies and many miners/validators. protocol inefficiencies are multiplied by the number of nodes. to keep transaction costs at a minimum and transaction speeds high, a distributed ledger should aim for the most efficient protocols that are practical.

hashcash was literally made to be inefficient, as a stop-gap measure for email spam. why anyone thought it would be a good basis for distributed ledger technology is beyond me.

[Anonymous No.24382481]

>>24382259
This.
There's zero demand for ETC.
Just because ETC gets more miners doesn't mean that it's going to get more demand.

[Anonymous No.24382489]

for miners who aren't invested in ASICs, i can see an exodus to cryptos with tail emission like xmr and etc.

[Anonymous No.24382510]

>>24382422
>Practically no one uses Bitcoin or XRP for its intended purpose: as currency.
No, it's going as planned. Hal Finney predicted this in 2011

[Anonymous No.24382534]

>>24382175
>PoW is all that gives crypto any value
No. You had to work for that USD that you put into a PoS coin.

[Anonymous No.24382542]

>>24382510
Take meds your

[Anonymous No.24382551]

>>24382359
Because demand continues to outpace the inflation.
>>24382422
Link already secures billions in value and they're not even at version 1.0 yet.

[Anonymous No.24382602]

>>24382415
It's simple speculation that miners want to still mine and shifting to ETC effectively makes the network more secure which natively increases the "speculation" that developers will make dApps for it.

[Anonymous No.24382611]

>>24382542
>"Bitcoin transactions will be as rare as.. well, as bitcoin based purchased are today".
kys newfag

[Anonymous No.24382650]

how many ETH to hold for max PoS benefits quick
gonna market buy rn if you anons tell me

[Anonymous No.24382683]

>>24381567
>miners switch to ETC
>hashpower rises exponentially
>miners switch to $xfagcoinx$
yeah nah, go away

[Anonymous No.24382746]

>>24382405
>>24382415
>>24382419
>>24382422
>>24382551

>XRP has a max cap of 100bn
>Chainlink has a max cap of 1bn
>Bitcoin has a max cap of 21m

ETH has no real monetary policy, I can back the proof of stake but I don't see how ETH can increase in value substantially. It's no different than fiat currency hence the max I do is swing trade with it.

[Anonymous No.24382756]

>>24380994
Incorrect
PoW will still exist within the ETH 2 chain for years to come

[Anonymous No.24382758]

>>24382650
32 eth

[Anonymous No.24382787]

wait a second, does this mean anything currently on Eth will be forced to operate under PoS?

that's nonsense right, won't there just be a hard fork while the miners keep running the old chain?

[Anonymous No.24382793]

>>24382602

i don't think many will unless eth 2.0 somehow fails catastrophically, which i don't see happening either. i think xmr is a better bet since it's really the only pow coin that fully capitalizes on the strengths of pow.

[Anonymous No.24382881]

>>24382359
Eth has lower inflation than btc, retard.
Enjoy being retarded.

[Anonymous No.24383083]

>>24382881
That's not true, swear to Mohammed (pbuh) half the people /biz/ have no idea what they are talking about

[Anonymous No.24383158]

>>24383083
it literally is true eth inflation is slower than btc inflation rn, considering eth halves twice as often as btc does it will have lower and lower inflation in the future, "infinite" supply isn't even an issue when you think about it in real inflation terms

[Anonymous No.24383245]

>>24382551
>Link already secures billions in value
No it doesn't, it's literally vaporware all that wash usage is hilarious, nobody will ever use chainshit for anything.

[Anonymous No.24383279]

>>24383245
delusional

[Anonymous No.24383417]

>>24382359
With inflation your percentage share of the total supply is always shrinking. This is how it works with holding ETH and holding BTC
With ETH PoS, if you are a staker, your percentage share of the total supply is always increasing. This is deflation and why PoS unironically makes ETH a better Store of Value than Bitcoin.

[Anonymous No.24383477]

>>24382787

Can anyone explain why this wouldn't happen?

[Anonymous No.24383572]

>>24382359
>These are the people I share the board with
Dude, can I ask you something? Why does electricity have any value when I can get an unlimited supply from the sun?

[Anonymous No.24383597]

Let me explain this to all you poor retards

1. Miners have expensive equipment
2. Miners have tons of capital
3. Miners can’t liquidate ETH mining equipment if there is no market for ETH mining
4a. The Solution Part 1: switch to Ethereum Classic which uses the same form of algorithm.
4b. The Solution Part 2: use capital mentioned in point 2 to purchase up and bolster the price of ETC simultaneously mining new ETC.
4c. The Solution Part 3: tout the added security in hash power of ETC and begin fostering the ecosystem
5. ETC huge value spike, great expansion of ecosystem and eth mining equipment happily continues in use

To the autists saying PoW drives price down. Halving events almost always drive price up for the same reason the solution above works. The supply producers (miners) bolster the price and set market rate such that it is profitable to them. They can do it, have done it countless times and will do it again

[Anonymous No.24383602]

>>24383417
eth2 is just a test. if the transition is successful bitcoin will do the same

[Anonymous No.24383634]

Exactly what date does my miner turn off. That shit literally feeds me

[Anonymous No.24383667]

>>24383602
Bitcoin community will splinter into 4+ pieces if they want to execute a hard fork. Let alone a hard fork for a POW->POS transition.

[Anonymous No.24383675]

>>24382746
What’s the hard cap on gold. Number of newly created tokens is irrelevant as long as inflation isn’t runaway.

[Anonymous No.24383762]

>>24383597
>1. Miners have expensive equipment
no, they have electricity and cost efficient equipment, most likely middle end low power consumption vidya cards
>2. Miners have tons of capital
some do, most don't
>Miners can’t liquidate ETH mining equipment
they can, vidya cards are always wanted by the gaymers
>4a. The Solution Part 1: switch to Ethereum Classic which uses the same form of algorithm.
hash rate of etc skyrockets, mining becomes not profitable 1 minute in
>4b. The Solution Part 2: use capital mentioned in point 2 to purchase up and bolster the price of ETC simultaneously mining new ETC.
and sell it back to who exactly?
>4c. The Solution Part 3: tout the added security in hash power of ETC and begin fostering the ecosystem
miners aren't coders, most are literal monkeys who can't hook up their shit using prebuilt equipment
>5. ETC huge value spike, great expansion of ecosystem and eth mining equipment happily continues in use
wishful thinking

Reality will be:
OH SHIT CAN'T MINE ETH, LETS SEE WHAT WHATTOMINE TELLS ME TO MINE! OH COOL ITS ETC ALL IN! OH SHIT HASHRATE IS LITERALLY 200X NOW WHAT DO! I KNOW LETS GO TO WHAT TO MINE AND SEE WHATS NEXT!
This will be your average miner and he will end up just selling his cards.
>but muh mining pools will find a way
they will disolve the second eth pow dies

[Anonymous No.24383778]

>>24383597
etc is insecure by design, no amount of hash power changes that.

[Anonymous No.24383782]

>>24381047
It’s literally not happening for 2 years, this tweet suggest nothing new in terms of time frame. They’ve been talking about PoS since 2017 and they’re years behind. They themselves have predicted 2021-2022 for PoW to be abandoned with Phase 2 of ETH 2.0.
Also, to all the low iq fuckers no one is switching to monero because you can’t mine monero with a GPU, it’s CPU based as of like a year ago.

[Anonymous No.24383783]

>>24383634
mid 2021/early 2022

[Anonymous No.24383789]

Anyone even understand when is this expected to happen

[Anonymous No.24383807]

>>24383782
Monero will hit 1k in less than two years, fag. Screencap this.

[Anonymous No.24383819]

>>24383783
lol its literally nothing then what a gay thread

[Anonymous No.24383832]

>>24383667
imagine the hashrate with bitcoin at a 200k-500k usd price in a few years. not sustainable. it will switch imo

[Anonymous No.24383908]

>>24383819
6 months is nothing? Are you a Mormon or a moron?

>>24383762
A deca-million dollar mining farm by definition has a ton of expense in equipment

There aren’t enough gamers on the market to buy all the mining GPU’s and fuckinng no one wants a GPU that’s has its pussy gaped by a Chinese mining farm for the past 12 months overclocked at max 24/7

The only miners that matter are the ones with capital by definition again

The other points are too stupid to address

[Anonymous No.24383923]

>>24382283

this

[Anonymous No.24383928]

>>24383807
You have to be ESL, did you even read what I said? Nothing about monero’s price even mentioned.

[Anonymous No.24383935]

>>24383832
It will take years to develop such a thing with confidently no bugs/exploits. It would significantly ruin the 'safe SoV' narrative of Bitcoin. There will be a significant portion of the community forking...

It would be an absolute mess. They'd better start working on it right now then.

[Anonymous No.24383963]

>>24383923
Who the fuck is going to buy fried ethereum mining equipment if there is no more ethereum mining you brainlet?

>this
Moron

[Anonymous No.24383974]

>>24382175
Maxi begone

[Anonymous No.24383978]

>>24383572
what an extremely dumb comparison

[Anonymous No.24384135]

>>24383908
>A deca-million dollar mining farm by definition has a ton of expense
not the same as expensive equipment, expensive equipment is equipment that is too expensive for average user to own, mining farms don't use that cause hedging against inevitable breakdown by having more cheap cards is a much better strategy
>There aren’t enough gamers on the market to buy all the mining GPU’s and fuckinng no one wants a GPU that’s has its pussy gaped by a Chinese mining farm for the past 12 months overclocked at max 24/7
depends on the price, nobody is buying rtx for a full price, but 1/3 of it, why not
>the only miners that matter are the ones with capital by definition again
you're clearly new cause you don't remember the great eth mining collapse of 2018
>The other points are too stupid to address
no, you're just too stupid to understand them

[Anonymous No.24384140]

>>24382359
try to argue why you think a limited supply has value, and you should realise the futility of your current stance, provided you explore the question earnestly
i.e.: bitcoin, which you mostly hold, will not have attained a fixed supply before the next century. that limit could be changed within a moment in a majority fork. will the social contract hold for that long?
remember just 11 years ago, the whitepaper described bitcoin as "peer-to-peer electronic cash". now the current accepted definition is "store of value", with a lot of handwaving when pressed on this point to argue there are still some p2p transactions happening directly on the bitcoin network
now once you understand bitcoin has in fact an emission rate until 2100 and beyond, the question becomes what is that emission rate and what is ethereum's emission rate in comparison. if you solely base value on emission rate, then you can make a meaningful comparison there
mind you, the idea scarcity = value is inherently flawed. the scarcity of something WITH value makes that value higher, but scarcity in itself doesn't make something valuable

[Anonymous No.24384176]

>>24383477
why does any EIP make it into a hardfork? miner rewards have been cut before. social consensus is and has always been that ethereum is moving to PoS, PoW was always planned for phasing out

[oracle !!FaVx3XeAfN/ No.24384188]

>>24384135
Point 1 splitting hairs at this point

2 so they will sell at a minimum of a 66% loss rather than pick another coin to mine... right...

You’re retarded point about difficulty is retarded. That’s exactly why difficulty adjustments drive price hikes. Small miners may be pushed out large miners will thrive

Again rest of your points too stupid to address.

[Anonymous No.24384207]

>>24382223
It will go to monero....not etc.
Etc is literally a dead chain goy.

[oracle !!FaVx3XeAfN/ No.24384227]

>>24384188
Your

[Anonymous No.24384255]

>>24383597
Yes, its simple to understand.

Again to retards in this thread, this is not "ETC vs ETH" - its "value prop of ETC"

>>24383935
No one is interested in that. Retards can't seem to grasp BTC has made 100000x returns and will make 100x-1000x returns more. There is no pressure to move to a rabbi rent seeking system.

[Anonymous No.24384349]

>>24384188
>Point 1 splitting hairs at this point
literally "REEEEEEEEEEEEEEEEEEEEEEEEEEEE YOU'RE WRONG IM RIGHT"
>2 so they will sell at a minimum of a 66% loss rather than pick another coin to mine... right...
>You’re retarded point about difficulty is retarded. That’s exactly why difficulty adjustments drive price hikes. Small miners may be pushed out large miners will thrive
If what you're saying is true why didn't miners pump etc in 2018, retard?
If what you're saying is true how come Jihan lost 2 bils on his whole BCH ruse?
If what you're saying is true why there were literally lines upon lines of ads selling old mining equipment back in 2018?
Niggers like you said exact same thing about switching to ETC and it all ended with them pink wojaking themselves.
>Again rest of your points too stupid to address.
No, you're just to stupid to address them.
>>24384207
monero is asics mined now bruh

[Anonymous No.24384368]

>>24384207
IT CANT GO TO MONERO YOU DUMB MOTHERFUCKER GOD DAMNIT!
Monero’s mining algorithm is based on CPU not GPU, no GPU miners will switch to monero god fuck you

> https://monerobenchmarks.info/

[oracle !!FaVx3XeAfN/ No.24384462]

>>24384349
Are you actually stupid
>why were there so many ads selling equipment?

Because they couldn’t fucking sell, retard. You spend money on ads when you can’t find enough people to buy without ads??

>implies Jihan lost money

[Anonymous No.24384514]

>>24380994
this is good for 0xbtc

[Anonymous No.24384526]

>>24384349
>why were there so many ads?
youre literally retard. you commit to ad spend when you cant find enough people to buy without ads.

>implying Jihan lost money

[Anonymous No.24384590]

>>24384140
This

[Anonymous No.24384619]

>>24382359
there is literally nothing wrong with a "limitless supply." That alone is not determines how usable a currency is. A bit of inflation gives an economy a driving force vs people who just buy and sit on something.

The reason inflation is BAD is when the rules for when inflation can take place are arbitrary and that's how we end up with fiat. US government can BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR all they want. it doesn't go to people who invest in producing said currency like gold, it just goes to rich jews, military operations, and nogs. That's why bitcoin is great. The money goes to those who guarantee the network and the free market figures out the rest. Don't listen to retards who think inflation is evil. They are eternal bagholders and do nothing for a currency one way or another.

[Anonymous No.24384634]

>>24384526
>implying Jihan lost money
bitmain literally filed losses you retarded whore
fuck off

[Anonymous No.24384703]

>>24384634
Bitmain Corporate Losses != Jihan

Go back to class little boy

[Anonymous No.24384752]

>>24384703
>mining company that had 2 bils revenue filed losses
thats even worse for your case you dumb nigger

[Anonymous No.24384776]

>>24384752
Loss are due to crypto winter? And you said Jihan which is wrong

[Anonymous No.24384800]

>>24384349
>monero is asics mined now bruh

[Anonymous No.24384846]

>>24384776
loss was due to switching hash power to mine bch if they kept on mining btc they wouldn't suffer losses
jihan and ver literally admitted that

[[e-mail] No.24384877]

Fellas, searched duckdao.io, the first crypto incubator with a various connected platforms? What can you say about it?
Is it a good solution to play in DuckDAO Hunter Season?

[Anonymous No.24384909]

What will happen at fork day if miners just keep mining eth and pay no attention to stake coin? A new "ETC" will occur and the old etc will just die

[Anonymous No.24384963]

>>24384909
Difficulty bomb means they must hard fork at some point. There is likely to be a remaining chain but it is also likely to die off pretty quickly. If the PoS shift date is encoded into an earlier hardfork (say the one with 1559), then they have to hard fork at the PoS date with changed consensus rules.

[Anonymous No.24384988]

>>24382359
It's a direct measure of gas, ie computational work, on the network you retard. Ethereum is one of the only tokens that has an inherent value. The supply is irrelevant as long as there is demand

[Anonymous No.24385060]

>>24384963
Why would miners mine a chain that is a time bomb for them? Does not make any sense. The sad truth we live with pow coins is that miners rule

[Anonymous No.24385091]

>>24382534
That someone printed out of thin air. Tard

[Anonymous No.24385133]

>>24385060
They would obviously fork it out if they choose to continue mining on eth1, Vlad. For now they mine the real ETH because miners are not as all-powerful as you think.

[Anonymous No.24385349]

>>24382359
>can someone explain to me why a resource that has limitless supply like air or water have any value?

[Anonymous No.24385462]

>>24382223
Very simple, they will switch to mining 0xBTC

[Anonymous No.24386404]

>>24385462
What would that do to 0xBTC?

[Anonymous No.24386454]

>>24382415
because more miners is more safety, obviously. A hostile takeover requires +50% mining power
this is really basic stuff bro

[Anonymous No.24387663]

>>24384349
>monero asic mining
source?
also idk how asics could compete with how cheap botnet mining is

[Anonymous No.24387694]

Im going to buy ETC now.

[Anonymous No.24388383]

Miners will switch over and mine 0xBTC
>check'em

[Anonymous No.24388460]

>>24388383
>8383
Told ya

[Anonymous No.24388520]

>>24382223
ETC has had several double spend attacks and hacks. There is no way miners are going to waste money on that coin.

[Anonymous No.24388582]

Miners will just keep mining POW ETH, they need to do a hard fork to change to POS and that will create a new ETC, the old one will get nothing

[Anonymous No.24388911]

>>24388582
There is literally zero benefit to that

[Anonymous No.24388986]

>>24382787
>Eth will be forced to operate under PoS?
yes.
>that's nonsense right, won't there just be a hard fork while the miners keep running the old chain?
Why is it a problem? PoS is a common system and not unknown. Its been planned for years now, shouldnt be a surprise to any erc20 token company.

[Anonymous No.24389017]

>>24383597
>eth mining equipment
Eth doesnt have special mining equipment GPUs can switch to BTC or XMR, the better choices than ETC.

[Anonymous No.24389354]

>>24385091
it really doesn't matter if a PoS coin is premined and the supply is gradually released. when difficulty was low bitcoin was almost free. satoshi and some insiders accumulated a fuck ton for no cost.

[Anonymous No.24389518]

there's no demand for ETC. why would there be? so increasing the supply is beyond retardation

[Anonymous No.24389838]

>>24382419
a paining that looks worthless to you can be used for money laundering

[Anonymous No.24390022]

>>24389518
Uhm... do you think that more miners means an increase in supply?