Ethereum Metropolis Hard Fork
Poor Ethereum Miners...!!!
7 years ago in #ethereum by britvr (65)
$3.09
- Past Payouts $3.09, 0.00 TRX
- - Author $2.58, 0.00 TRX
- - Curators $0.51, 0.00 TRX
Great analysis. I like your point that ETH miners will flood their mining power onto other coins once POS hits to blow up the difficulties, or else they'll have a lot of mining rig setups to use as a base for new coffee tables.
With Genesis, they're going to do that with contract holders on a best effort basis. I bet they'll move a chunk to Monero. My biggest mistake in cryptos (aside from selling some ETH in June to take my initial investment out which was optional for me), was flipping some of that into an ETH mining contract without understanding just how bad the ice age would kill the ETH mining returns. I spent a fixed cost and have recouped a bunch to not be under too much as of today, but I suppose it's better to have learned the hard way with a fixed cost, vs on a larger scale in the future as crypto values rise and more funds become available to diversify with. I was hopeful that Genesis' mining reassignment would be ok enough to flip the batches into ETH, but you're right, everyone will be flooded to the same option(s) and returns will probably suffer a lot. Only another ~21 months left to find out, but I'll certainly exceed my cost by a lot at least.
Thank you.
thank for comment and yes ETH Pos will change mining forever