Quote from: Marvell2 on October 02, 2018, 07:34:19 AM

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Quote from: Marvell2 on October 02, 2018, 06:41:40 AM

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Quote from: Coyn on September 27, 2018, 04:11:13 PM

Quote from: nsummy on September 27, 2018, 04:04:05 PM

Quote from: Coyn on September 27, 2018, 12:35:42 PM

Are we finally seeing some interest towards ProgPow? One of the main developers of ProgPow has been invited to the Ethereum Core Devs meeting 47 (Friday 28 Sept 2018).

Lets all fight for the best outcome!

Facts:

Ethereum mining profitability has never been as low as it is now 0.015/0.018 usd/day per 1 mhash. (https://bitinfocharts.com/comparison/ethereum-mining_profitability.html#log)
Ethereum difficulty has risen this year to extreme highs (as seen with ASICS on networks such as xmr/dash/zcash)
POS implementation will take at least one more year. Securing the network right now with POS is just not safe. POW is the better option for the foreseen future. So don't use this as an argument against making the network ASIC resistant.
Most of the loyal Ethereum miners are being hit the hardest. Turning their rigs to XMR or even off.
ASICS are not better for securing a network compared to GPU. People think an argument against GPU's is that they use more power and ASICS are more efficient. But this argument is invalid. Miners will continue to expand untill they are at their peak power. Whatever the machine. Total Ethereum network power stays the same.
A huge part of the Ethereum (mining) community is asking for this hardfork. Only the initial investors (mostly not miners) are being able to vote on this issue? Yes you invested initially in Ethereum, congrats, we are here now supporting the network 24/7. Please, Listen to us.

Your "facts" are completely full of contradictions. You say that difficulty has risen to extreme highs yet then say loyal Ethereum miners are being hit the hardest and leaving. How can hashrate be shooting up yet everyone is leaving? You also gloss over the drop in profitability. The loss of profitability isn't because of the algo; Its not hard to see that hashrate has doubled since this time last year, and the value has been cut in half. Not to mention block rewards decreasing. I have yet to see any proof of these ASICs. There is the Bitmain E3 that is slightly cheaper than 3 1080tis and has slightly better power consumption, hardly a game changer. People who think changing the algo on Ethereum will be a silver bullet are sadly mistaken. It won't make the hashrate drop and it won't increase the price.

The difficulty has risen to extremes, the network was doubled in just 2 months (see: december-february https://etherscan.io/chart/difficulty)
Loyal (small) ethereum miners are being hit the hardest, and leaving. You only can't see that directly because you dont know what machines are comming online at the same time.
The loss also ofcourse has to do with the pricing!

Pleas remember this. Back when the (XMR) Monero developers forked their coin for comming asics, they hashrate dropped by 60% and stayed there. (https://bitinfocharts.com/comparison/monero-difficulty.html)

The fact is, you don't exactly know how many ASICs are mining on Ethereum now. But that is another discussion. Fix it before it is too late.

But we agree on the price. ProgPow wouldn't affect the price of Ethereum.

Average difficulty for October 13, 2017: 31031.012
Average difficulty for February 28, 2018: 3052.568

Am I missing something here? Doubled in 2 months? Think about it next time you cherry pick your stats. To be quite frank, I don't care how many alleged asics there are mining ETH. I'm sure it pales in comparison to the 1000 GPU farms out there mining it.

Yes you are missing something, although the sales of GPUs plummeted in 2018, the ethereum network hashrate increased astronomically from 110k-120k in Oct 2017 to 250k - 300k in march to september 2018. Many people noticed the large increase in the ethereum network hashrate and had speculated that there are ethereum ASIC miners. This was confirmed when Bitmain announced in April 2018 that they will be releasing ethereum ASIC miners. Bitmain had been "testing" (secretly mining) them for around 5 months before the announcement.

I mean anyone who can read the difficulty charts in a time of gpu scarcity a near 100Th increase is more gpus than nivida sells in a year lol. So many ostriches on this forum they must work for bitmain no one is legitimately this dense

The main reason why your ideas are erroneous is you are equating ethereum difficulty to ethereum network hashrate. An increase in ethereum difficulty doesn't always mean that there is an increase in ethereum network hashrate, other factors can also lead to an increase in ethereum difficulty eg. the difficulty bomb.

the bomb was delayed wtf are you talking abou
https://etherscan.io/chart/hashrate
the hash rate is at 260k ghs righ now, it trippled from 90ghs or when the first difficulty bomb was delayed
asics hit the network that sept oct and quickly ran the network to 150 ghs , them a seccond wave took the network to 230k ghs ghs from dec to march , which coincidentally was during an intense gpu shortage.

for refrence 150k ghs is the equicalent of 6million gpus , thats the hashrate rise the last 7 to 10 months

remeber profits have been down all 2018 since we are in a bear market unlike n 2017 a year of record gpu profits miners bought 3million Gpus total in 2017.

so where did this magical 6 million gpus come from this year?
https://www.[Suspicious link removed]s/amp.hothardware.com/news/gpu-market-q4-crypto-miners-3-million-amd-nvidia

Its simple logic buddy , its not rocket sience just follow the numbers

Does "eg." mean anything to you? The difficulty bomb is just an example of one of the other factors, apart from network hashrate that can cause an increase in network difficulty. Stop ignoring them in your analysis of the ethereum network difficulty.