Post
Topic
Board Mining (Altcoins)
Re: High ETH gas fees - Why are pool miners not seeing any benefits?
by
Stanlo
on 24/02/2021, 08:52:18 UTC
Mighty_crypt's reply shows you why. The people saying that fees are great and that miners are raking it in, are the ones looking at fiat values. It also perfectly illustrates why devs should not care too much about the opinions of miners since most are in it for the immediate profits and probably don't care too much about the long term value/stability/usefulness of a coin. While these fees are great in the short term from a mining perspective, if they aren't addressed quickly, it will kill momentum as the users of the platform migrate to more functional/economical competitors. I think we might be watching the process of the golden goose being killed, judging by the pushback/disinfo against EIP-1559 which is meant to address fee unpredictability.
I have been holding my ETH coins all along and have never converted to USD the past 3 years. And I am getting paid less and less ETH. They make it sound like miners are greedy and getting more and more payout from gas fees. In my case my only payouts are in ETH and I don't convert. I am taking a big risk on Ethereum. I've paid tens of thousands in electrical cost. Add in the mining hardware. I have over $50k invested in Ethereum and have not taken one cent in USD profit. If ETH goes back to $100 it will be a big hole for me.
Are you going to sit back and watch ethereum to go back to 100$ ?? Now is the best time to sell your ethereum, where were you when ethereum hit 2k anyway? You've been in mining business for long you should have understand by now that crypto coins won't keep surging forever, selling or switching to usdt is the best way and you could buy back once price is down if you feel like holding ethereum still.