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The Ethereum merge is done

coindesk.com

501–510 of 1001 posts

Re: The Ethereum merge is done

#501

I think this is nice, it forces people that want to participate to have skin in the game. With proof of work there is incentive for people not invested in crypto to mine as much as possible and sell everything. If a big enough computer is created, someone not interested in crypto can take money away from it, or if the computer is big enough even destroy it, a quantum computer for instance, should make a 51% attack on…

Only if your only goal is monetary gains. A group could still want to if they only wanted to trash a particular chain.

Re: The Ethereum merge is done

#502

Earlier quoted context omitted.

Emphasis on you can’t find any uses and other people’s use cases aren't legitimate to you We’re past the point of playing with people’s goal posts

You could just list some great use cases that are happening right now, that'd be a very compelling argument.

Typically you, the person replied to, or someone else is simply primed to debate the use cases, in a classic dropbox-style moment about how some other combination of technologies nobody wants could do it, as opposed to diving into the technology itself and the opportunities presented by the platform

For them its a quagmire because they cant find a reason to justify any time or mindshare on the technology, and are simply using any discussion to rationalize not doing that

Its just past the point where they're relevant or the concept needs to be defended at all, its just not new or fragile enough anymore. Even politicians can debate nuanced aspects of 1 out of 100 use cases.

And then there’s the reality that speculation is a use case, so obvious yet somehow so unacceptable to technology savants, as if the entire financial services industry doesn't exist with its own niche technology to facilitate it

And then it derails into a relative utility argument, when someone points out the irony that nearly everyone here is working for a democracy destabilizing advertising conglomerate and getting paid in lottery tickets

Re: The Ethereum merge is done

#503
post #463

I appreciate it wasting less precious energy. But this change also means that "Decentralisation" and "Power to the people" are fading away right? The wealthy actors are the ones dictating the transaction now and they also on top get paid for being rich. This does not sound like a "better financial system" for me. Also, don't forget the DAO Fork[0] where with the "ungovernable Blockhain" it was decided a transaction w…

I wonder what the ETH miners are doing now. Did they switch to other coins? I doubt that they actually switch off their stuff. That makes no sense economically.

It looks like a third of the hash rate moved to ETC (Ethereum Classic) https://2miners.com/etc-network-hashrate

Re: The Ethereum merge is done

#504
post #500

Earlier quoted context omitted.

You can build the visa / Mastercard layer with “human judgement” on top.

Why bother paying more for a slow database if you’re not going to rely on the one feature which can’t be done faster, cheaper, and more reliably than the current financial system?

It’s pretty clear to anyone under 40 working in finance that there’s room for improvement.

Re: The Ethereum merge is done

#506

Earlier quoted context omitted.

Not using up a goat load of electricity is like 99% of why this change is great. Let people speculate on their funny money without harming everyone. A lateral move on the other details is rather unsurprising.

Using electricity isn't the problem. Anyone could use vast amounts of electricity as long as they are willing to pay the price for it. The problem is carbon emissions. The switch to PoS is a non-issue from my perspective: a centralized system changed from using method A to method B, I don't understand why I should care. Bitcoin mining is increasingly being used to prevent methane emissions in stranded gas reserves. H…

Genuinely curious: how does burning methane to generate electricity make an organization carbon negative? Do you have a reference for this?

I understand that methane is orders of magnitude more significant from a greenhouse effect point of view than CO2, but I don't see how it would be economically viable to burn methane "in stranded gas reserves" to generate electricity for Bitcoin mining but somehow it's not viable for other electrical consumption purposes.

Re: The Ethereum merge is done

#507
post #22

The bottom just fell out of the used GPU market. NVidia Tesla 80 24GB on sale for US$79 in quantity. [1] [1] https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2380057.m...

If you are only interested in Stable Diffusion there's no need to get up to 24 GB. Plenty of people are using a 12 GB RTX 3060 (with that you could generate something like 4 simultaneous 512x512 images in a matter of seconds).

Even the cheaper and recently re-released 12 GB RTX 2060 could be a good pick although the 2060 is generation behind and is less efficient in terms of electricity consumption.

Of course with more GB you get higher resolution images, but plenty of people just generate at 512x512 and then use other AI projects (for example "real-ESRGAN") to later upscale their images, which will still let you achieve great results.

I think a good advice could be to join Stable Diffusion Discord and talk to other users sharing their results and experiences there.

By the way, IIRC (please double-check the following) it could be also worth noting that the guys behind Stable Diffusion (Stability.AI) declared that in the end they will eventually bring down the VRAM usage to approximately 5 GB.

However more GB are always a good thing in general for Machine Learning...

Re: The Ethereum merge is done

#508

Quote from the article: > “I feel very proud, you know, that I'll be able to look back and say I've had a role to play in removing a megaton of carbon from the atmosphere every week." -- Edgington There's a very important difference in not emitting carbon into the atmosphere and actively removing carbon from the atmosphere. Both are critically necessary and complementary, but I don't see how Edgington thinks that swi…

The Ethereum's foundation next scam could be to sell carbon credits, promising not to switch back to PoW for the next 5 years, genius.

Re: The Ethereum merge is done

#509
post #8

I’m really curious what the GPU miners are going to be doing with their cards. Today may be as big a moment for gamers as it is for ETH devs.

Overall daily profitability on a 3060 Ti is down from $1.56 pre-merge to $0.36 as of writing:

https://www.nicehash.com/profitability-calculator/nvidia-rtx...

Seems logical to just sell the GPU for $300 on the used market and get 833x its daily mining profitability.

Re: The Ethereum merge is done

#510
Does Eth have an advantage now vs. even more trusted actors like Binance? Binance has a history of relative reliability and is better understood by people. The unknown crowd of ETH stakers is .. unknown, but it demands our trust. Why should we trust it?
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