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The Ethereum merge is done

coindesk.com

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Re: The Ethereum merge is done

#631

Post by latchkey »

can16358p wrote: post #303
latchkey wrote: post #254

Earlier quoted context omitted.

I have a very very large GPU farm. We switched to ETC, for now. Why? Because it is the easiest one that doesn't require retuning everything. GPUs are like snowflakes and each one of my cards are tuned for hash/power/stability, individually. It is an insane amount of work to do this because the failure mode is that the card (and machine) crashes.

But, do you believe ETC has future? I think the current increase in ETC GPU mining is due to people trying to squeeze the last bits of money return of their farming investment until they could sell/repurpose (I mean non-crypto) their rigs. I honestly don't believe ETC has any practical future value, and any increase in valuation these days will result in a bigger crash of ETC value in a few days/weeks as people get o…

ETH transitioning to PoS is a poison pill for all of the gpu mineable shitcoins out there.

Any gpu mineable coin will trend towards zero because they cannot support the irrational speculation any longer... unless they come up with some better use cases for usability.

There are enough home miners that either have free power and/or low capital opex requirements, such that any money earned is good money, even just a few dollars. This constant sell pressure on the market will always push things down.

Re: The Ethereum merge is done

#632

Post by overtonwhy »

sfjailbird wrote: post #526

This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…

Over a Russian cryptocoin? Weird spot to draw the line. Ethereum Classic is still running with billions of USD in market cap after the last fork that happened years ago. Why does anyone think this fork is anything except another way for the controllers to cash out before their scam bubble pops?

Re: The Ethereum merge is done

#633

Post by Bubble_Pop_22 »

sfjailbird wrote: post #526

This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…

> This was originally a forum for hackers, makers and entrepreneurs. It does not seem like that anymore.

There has to be a goal insight, otherwise it's just technical virtuosism for the sake of nothing. Nobody likes technical virtuosism for the sake of nothing otherwise guitar players who can play at 2000 bpm would dominate the billboard.

Blockchain is not a young technology it was conceived in 1996, almost 30 years later the usecase it's still obscure, except the only usecase has been to create a casino in disguise.

Making regular daily tasks less painful is a goal which if it was ever there has been abandoned post the first BTC run from 1$ to 127$

Re: The Ethereum merge is done

#634

Post by apeace »

> It's like Finland has suddenly shut off its power grid

So, have we observed global energy usage go down by about one Finland?

Shouldn't that be observable somehow? Shouldn't there be some power stations reducing their output as a reaction to reduced demand?

Anyone know how this would be visible, and on what kind of time frame we expect it to become visible?

I'm not claiming it hasn't happened. I just feel surprised to not see more coverage of that in this article, nor here in the comments. Energy efficiency is largely the point of this major change. Shouldn't there be graphs of the power grids everywhere showing a big drop? Maybe my expectations are just off on that.

Re: The Ethereum merge is done

#635

Post by spyspy »

soulofmischief wrote: post #616
JeremyNT wrote: post #579

Earlier quoted context omitted.

So we now have a technical marvel used for financial speculation, conducting illicit transactions, and dodging regulators... that no longer is also burning the planet. Am I supposed to be impressed by this? It's easy to worship engineering as some kind of pure endeavor divorced from the real world, and admire cleverness for its own sake. But things that actively make the world worse should not necessarily be praised,…

Oy, friend, you ever heard of a prototype? Or burgeoning technology? Do you remember the history of the internal combustion engine?

Basically proving their point. We should have been more critical of the ICE too before we built our whole society around it and let it contribute to destroying our environments.

Re: The Ethereum merge is done

#636

Post by mratsim »

JonathanBeuys wrote: post #225
maxioatic wrote: post #25

Earlier quoted context omitted.

During the livestream of the Merge someone said 0.2%, while Bitcoin was at 0.5%. Regardless, still an amazingly high percentage to just “turn off”.

Well, I laid out my numbers and calculation. If there is a more accurate way of calculating it that results in 0.2%, I would love to hear about it.

https://ethereum.org/en/energy-consumption/

- Youtube 244 TWh/year

- Gold mining 240 TWh/year

- Bitcoin 200 TWh/year

- Ethereum PoW 112 TWh / year

- Netflix 94 TWh / year

- Gaming 34 TWh / year

- Paypal 0.26 TWh / year

- Ethereum PoS 0.01 TWh / year

Re: The Ethereum merge is done

#637

Post by yoden »

djhworld wrote: post #475

Does this mean GPU prices will go down? At least according to this article the validator nodes can be run on a Raspberry Pi [1] [1] https://ethereum.org/en/energy-consumption/

GPU prices are already down. "Sell the rumor, buy the news" and all that.

Re: The Ethereum merge is done

#638

Post by lvass »

giarc wrote: post #517
kranke155 wrote: post #467

Earlier quoted context omitted.

Those could be exchanges ? Which would mean they represent very large numbers of users. Seems the most likely explanation. The idea that this isn’t true in BTC or PoW seems like a wild fiction to me.

Wasn't a public blockchain supposed to solve this? I always see this speculation and I thought the blockchain was supposed to show the public who was doing what... instead I always see these comments about big holders and speculation who it is. Shouldn't exchange addresses be known?

They're known.

Re: The Ethereum merge is done

#639

Post by ruune »

svnt wrote: post #550
sfjailbird wrote: post #526

This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…

The audience here probably holds a disproportionate amount of newly less-profitable GPUs. PoS has been the clear future for better than five years and huge credit to the ETH team for making this happen.

People here are largely anti crypto, not anti Proof of stake

Re: The Ethereum merge is done

#640

Post by mratsim »

Shorel wrote: post #39
JonathanBeuys wrote: post #6

It worked. And it reduces the world's energy bill by 0.5%: https://twitter.com/JonathanBeuys/status/1570305323629527046 I feel a great disturbance in the force. As if a million miners cried out all at once and then were suddenly silenced.

And a million gamers are still waiting for reasonable GPU prices. Nvidia really milked that cash cow.

On the topics of gaming, the energy consumption isn't pretty

https://ethereum.org/en/energy-consumption/

- Youtube 244 TWh/year

- Gold mining 240 TWh/year

- Bitcoin 200 TWh/year

- Ethereum PoW 112 TWh / year

- Netflix 94 TWh / year

- Gaming 34 TWh / year

- Paypal 0.26 TWh / year

- Ethereum PoS 0.01 TWh / year

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