[Ethereum] How long will it be till ETH is not worth mining? (Ice Age)

difficulty-bombethermining

I believe we recently started a period where difficulty bombs in ETH will have substantial effect, but it is surprisingly hard to find throughout explanation about this online, hence the question.

How long will it be now till there is no point in mining ETH and what can happen if PoS doesn't proof itself i.e. will this bomb be defused or ETH just goes down a lot in value?

Will miners move to ETC mining if they don't want to stake ether, which seems odd to me now as there is not clear future for classic as far as I know.

I will appreciate expanded answer, as this is genuinely interesting to me.

Best Answer

I believe we recently started a period where difficulty bombs in ETH will have substantial effect, but it is surprisingly hard to find throughout explanation about this online, hence the question.

Have a look at these previous threads:

How long will it be now till there is no point in mining ETH and what can happen if PoS doesn't proof itself i.e. will this bomb be defused or ETH just goes down a lot in value?

Basic supply and demand would suggest that as fewer coins are mined, the supply will drop, and the demand would increase, thereby pushing up the value. This very simplistic explanation doesn't take into account anything that is generated in PoS.

See: What will the ETH inflation rate be after PoS is released? (Where "inflation" in this sense means monetary inflation, i.e. issuance, rather than price-based inflation.)

Will miners move to ETC mining if they don't want to stake ether, which seems odd to me now as there is not clear future for classic as far as I know.

Any answer to this would be speculative.

Related Solutions

[Ethereum] How does ethminer interact with the various Etherum clients (e.g. geth, eth, parity) when mining? Does it affect mining efficiency

Parity uses Ethminer but has significantly better performance for processing blocks. Check out Gavin Wood's blogpost on performance: https://blog.ethcore.io/performance-analysis/

A) Other than Ethminer, there are two other mining clients: QtMiner, Cudaminer.

B) Not sure what you mean- could you elaborate?

C) As for the relative merits of the different clients, it depends on what operating system and GPU you are using. I searched the other clients but it seems that Ethminer is the most well established for most purposes, and is also the best documented and supported of all the mining clients. Check out the documentation: http://ethdocs.org/en/latest/mining.html.

[Ethereum] How to REALLY setup a ETH mining on Ubuntu Linux together with Jaxx? Polo: ethereumpool.co

I myself am on the Ethereumpool.co pool. Also, I am on Linux 16.04, the problem you said is that you can't get it together with Jaxx? So first off you need to install the Prerequisites. Open a terminal and type the following one at a time.

sudo apt-get clean 
sudo add-apt-repository -y ppa:ethereum/ethereum-qt 
sudo add-apt-repository -y ppa:ethereum/ethereum 
sudo apt-get update 
sudo apt-get install cpp-ethereum

After you do that, I suggest making a note file to keep your starting command. To connect to the pool, you want to use the command

ethminer -G -F http://ethereumpool.co/?miner=[HASHRATE IN MHASH]@[ADDRESS]@[OPTIONAL RIG NAME]

Where the hash rate is the speed, the address is your Jaxx address and your rig name. So for me it looks like this:

ethminer -G -F http://ethereumpool.co/?miner=19@0x516976cE81751eBe077Ca01C57B97c9665b0e10b@LLG

Notice, no brackets. Also the -G means GPU. Remember, the address is your Jaxx address that you get from in-app. the ETH, not ETC If you have any issues comment at me.

Best Answer

Related Solutions

[Ethereum] How does ethminer interact with the various Etherum clients (e.g. geth, eth, parity) when mining? Does it affect mining efficiency

[Ethereum] How to REALLY setup a ETH mining on Ubuntu Linux together with Jaxx? Polo: ethereumpool.co

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