Ethermine shutting down after the Merge

Hanno Labuschagne

Hanno Labuschagne

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Ethermine shutting down after the Merge

Ethermine, the largest Ethereum mining services provider by computing power, will shut down its servers for miners after the blockchain completes its historic technical upgrade.

The news comes on the eve of Ethereum’s highly-anticipated software revamp, dubbed the ‘Merge,’ which will shift the most used blockchain from a proof of work consensus mechanism to proof of stake.

[Bloomberg]
 
It is total chaos now in the PoW segments. Miners have migrated everywhere. Many Ethash miners, ASICs by the loads, chipping away at whatever. All spec mining now, at some point there will be winners. The question remains, will the money go to PoS or remain with PoW? I guess Ethereum’s security is to be tested.

A total bloodbath at the moment, but I think Ergo and Flux is going to win, maybe Firo will also succeed. ETC is being tested, and my nominee QKC is getting the early hashes.

Time will tell whether residential miners will abandon crypto mining. RVN has shown that PoW can be pumped at short notice. For those who say that The Merge spelled an end to cryptomining, you aren't right, yet.
 
Fulcrum29 said:
It is total chaos now in the PoW segments. Miners have migrated everywhere. Many Ethash miners, ASICs by the loads, chipping away at whatever. All spec mining now, at some point there will be winners. The question remains, will the money go to PoS or remain with PoW? I guess Ethereum’s security is to be tested.

A total bloodbath at the moment, but I think Ergo and Flux is going to win, maybe Firo will also succeed. ETC is being tested, and my nominee QKC is getting the early hashes.

Time will tell whether residential miners will abandon crypto mining. RVN has shown that PoW can be pumped at short notice. For those who say that The Merge spelled an end to cryptomining, you aren't right, yet.
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Agreed its to early, the few miners I know have all shifted to Ravencoin but with global electricity prices I still think the barrier to entry is to high for the average Joe and only people / companies with "free electricity" find mining actually viable.
 
L-Dog said:
Agreed its to early, the few miners I know have all shifted to Ravencoin but with global electricity prices I still think the barrier to entry is to high for the average Joe and only people / companies with "free electricity" find mining actually viable.
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I have been mining Flux since its Zel times. Spec mined some Callisto (and staked it), got in early on Neoxa and settled on Ergo. Flux and Ergo it is on my side. I won't be able to compete with the ASICs, but I actually do hope that QuarkChain gets the attention it deserves. In the end, I believe that Kadena will come out on top, and it has mighty ASICs now. I am actually considering getting 2 Kadena miners, it is a phenomenal blockchain technology, and QuarkChain is also competitive within this tech tree.

In the case miners care about utility, mine PoW coins which have proven utility. I don't think privacy coins are going to survive regulations so Firo might buckle.

I don't dislike Ravencoin, but as an asset creation blockchain they don't have a lot to show and their algorithm needs work, and I know that proposals have been made to improve Kawpow. They need to promote adoption and get more developers onboard.

Kaspa is going to do good, once they have implemented their smart contracts it might boom. Time will tell.

Nothing is certain in crypto. Bitcoin is perceived as a trusted store, ETH was pushed with NFTs. Will the 'metaverse' change it all?
 
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MikeaMatrix said:
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I am in the crowd who supported ETH going PoS, though I don't believe PoW should be done away with. Algorithms need to be optimised to minimise waste, and miners should be committed to best practices also leveraged by the industrial sectors. There will always be small hobbyist miners, but some do grow, and some I watch have improved their energy usage. Small miners can take care too. Waste needs to be minimised, go green where possible.

ETH going PoS, might also help competitors like Cardano and Fantom get attention. Theoretically, ETH’s main competitors are better blockchains, but they didn’t get in on the early adoption.

The Cardano upgrade is happening now, so ETH best watch out. Still, nothing is better than Kadena at the moment, in my view.
 
For those who wanted to get into mining this is the catalyst you were waiting for you Def missed the last boat but you are early to this party.

II have been waiting on the sidelines still figuring out where I wanna go or stay out again.
 
Unfortunately electricity cost from Eskum now makes its it hard to see mining still being worthwhile. Sure, it's still profitable but hardly worth the hassle with the scraps you can earn now compared a year or 2 ago.
 
Seeing how the NetHash is moving it is very evident how much are powered by ASICs. Ergo is up by ~2%, so day 1 didn’t bring in the hash. However, Flux is up by ~45% and Beam by ~75%. Then to have a look at Ethash, QuarkChain up by ~110% and Callisto us up by over %450! Even old boy Ubiq is up by %70. There are many more.

"Ethermine" may be shutting down, but Ethash inherited all that ASIC power. This will still all be tested whether liquidity goes back into PoW.

Imagine Ethereum getting hacked now on PoS, any vulnerability which would include dApps. Solana may have survived it, multiple times, but Ethereum will take a knock. At this time, Ethereum still seems secure.
 
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