Re: Ethereum Fork/Block Reward Reduction Kills GPU Mining Profitability
Ethereum has forked and thus implemented changes to their blockchain. ETH reduced their block reward from 3 to 2 Ethereum per block SIGNIFICANTLY reducing miner earnings.
5 days after the Ethereum Constantinople Hard Fork, pretty much i still mining the same amount of ETH, what i mined before the hard fork ( GPU's, Few FPGA and 2x ASIC (E3) )
The "Thirdening" , the reduction in block mining reward by 33% is happened with the hard fork , but its also going to delay the difficulty bomb for a period of 12 months.
Difficulty is changed -35% is the past few days, after the hard fork....( as of March-06-2019 )
"Although lower rewards will make mining less profitable, this upgrade does not disincentivize miners as much as it could have. Constantinople actually delays a difficulty bomb that would have made mining much more system-intensive and harder to profit from. That bomb has now been delayed for twelve months, allowing many miners to continue enjoying profits."
And be ready for the next change
Ethereum Developers Prepare To Activate the next hard fork, Istanbul Shortly After The Successful Constantinople Hardfork.
"This hardfork would most likely include some of the Constantinople EIPs. All the new proposals must be submitted before the end of May for review. While the full implementation will be in eight months, a soft implementation will be done in July to test Istanbuls compatibility on the Ethereum blockchain. The testnet upgrade is also estimated to take place in August. By October, if everything goes to plan, the Istanbul hardfork will be ready for activation."
After Istanbul, the team will start working on the implementation of Serenity and ProgPow.
Serenity has been dubbed Ethereum 2.0 while ProgPow stands for Programmatic Proof-of-Work upgrade. After ProgPow is implemented, ASIC miners will have less control of the network and GPU miners will benefit more.
Serenity is going to be the final upgrade. It will put Ethereum in the last phase. After Serenity, Ethereum would have successfully moved from the proof-of-work to the proof-of-stake consensus algorithm. Serenity will introduce Casper and Beacon on the Ethereum blockchain.
The "Thirdening" , the reduction in block mining reward by 33% is happened with the hard fork , but its also going to delay the difficulty bomb for a period of 12 months.
Difficulty is changed -35% is the past few days, after the hard fork....( as of March-06-2019 )
"Although lower rewards will make mining less profitable, this upgrade does not disincentivize miners as much as it could have. Constantinople actually delays a difficulty bomb that would have made mining much more system-intensive and harder to profit from. That bomb has now been delayed for twelve months, allowing many miners to continue enjoying profits."
And be ready for the next change
Ethereum Developers Prepare To Activate the next hard fork, Istanbul Shortly After The Successful Constantinople Hardfork."This hardfork would most likely include some of the Constantinople EIPs. All the new proposals must be submitted before the end of May for review. While the full implementation will be in eight months, a soft implementation will be done in July to test Istanbuls compatibility on the Ethereum blockchain. The testnet upgrade is also estimated to take place in August. By October, if everything goes to plan, the Istanbul hardfork will be ready for activation."
After Istanbul, the team will start working on the implementation of Serenity and ProgPow.
Serenity has been dubbed Ethereum 2.0 while ProgPow stands for Programmatic Proof-of-Work upgrade. After ProgPow is implemented, ASIC miners will have less control of the network and GPU miners will benefit more.
Serenity is going to be the final upgrade. It will put Ethereum in the last phase. After Serenity, Ethereum would have successfully moved from the proof-of-work to the proof-of-stake consensus algorithm. Serenity will introduce Casper and Beacon on the Ethereum blockchain.
PS:
I have only two asic (E3) for ETH, what i noticed both of my ASIC hashrate is decreased by 10-15MH/s right after the Constantinople Hard Fork, GPU and FPGA miners hashing speed was not affected, all my ETH mining "toys" is mining on "ethermine.org"
Anyone noticed something similar about decreased ASIC hashrates after the hard fork ??
to clarify what I said/meant -- while diff dropped -- the overall "pie" of ETH earnings was significantly reduced (3 to 2) -- also comparing to an incorrect difficulty gives us a skewed result (makes it way easier for the general population of miners to accept this) if diff was proper, the impact would be more obvious