why would miner sabotage ETH?

sgroves85

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So I heard there's a new update to ETH which will solve many issue's and give the value of ETH a boost, but it appears that miners are greedy and would rather sabotage ETH *for educational purposes they say* to protest that they don't like the upgrade because they don't get as much money anymore... why don't they get off their a$$ and find a new job instead of whining and being greedy and making everyone else suffer? it's like they want to suck ETH dry and don't care about it's future.
 

MrGuvernment

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Because some people have made mining a business, kill eth mining and it hurts their business. Sadly, for me if it makes ETH better, sorry miners....move on.
 
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sgroves85

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Because some people have mad mining a business, kill eth mining and it hurts their business. Sadly, for me if it makes ETH better, sorry miners....move on.
thats part of being in the technology business, like libraries and cameras..ect had to adapt to changes. seems miners expect special privileges in tech evolution and will sabotage it if it dares to better itself lol
 

pendragon1

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So I heard there's a new update to ETH which will solve many issue's and give the value of ETH a boost, but it appears that miners are greedy and would rather sabotage ETH *for educational purposes they say* to protest that they don't like the upgrade because they don't get as much money anymore... why don't they get off their a$$ and find a new job instead of whining and being greedy and making everyone else suffer? it's like they want to suck ETH dry and don't care about it's future.
miners are greedy
answered yourself
ps: fuck crypto, unless its zoology
 

sgrinavi

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You're talking about the EIP 1559, I presume?

In all fairness to the big miners they are about to have their income cut, could be as much as in half. You don't think that gives them the right to bitch?

I'm only a $300 a week miner and I'm not too happy about it
 

pendragon1

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You're talking about the EIP 1559, I presume?

In all fairness to the big miners they are about to have their income cut, could be as much as in half. You don't think that gives them the right to bitch?

I'm only a $300 a week miner and I'm not too happy about it
get a real jerb?! crypto should have never gotten this big.
 

cdabc123

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Ummm. This is kinda a odd thread. All of ya are upset for just about no reason.

What happens when a crypto forks and the isnt general acceptance of the new fork? Ya have two chains that will grow off independently. Wither there is enough support to maintain the old chain will be seen.

And idc if people whine saying that harms the new chain it really doesnt for a coin like ether where there will always be some degree of support for what the dev team is doing
 

sgroves85

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You're talking about the EIP 1559, I presume?

In all fairness to the big miners they are about to have their income cut, could be as much as in half. You don't think that gives them the right to bitch?

I'm only a $300 a week miner and I'm not too happy about it
But it's technology, it evolves.. it's unreasonable, unrealistic and ignorant to think it's going to remain in their favour forever and if it dares upgrade and become something better then they will do all they can to destroy it. I think it gives them the right to bitch quietly and not threaten to destroy everything like spoiled kids... technology evolves, they should keep up with it or go do something else

btw, it would be a rather stupid idea for them to destroy ETH in any way.. they'd loose their farm and the ETH they have will become worthless. Its like having a temper tantrum because you dont like snow so you kick it and that causes an avalanche, now you're buried in snow lol
 
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sgrinavi

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But it's technology, it evolves.. it's unreasonable, unrealistic and ignorant to think it's going to remain in their favour forever and if it dares upgrade and become something better then they will do all they can to destroy it. I think it gives them the right to bitch quietly and not threaten to destroy everything like spoiled kids... technology evolves, they should keep up with it or go do something else

IMO the miners should have some say in it. They are the backbone of the network.
 

oblox

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It's more of a show of power that the miners collectively could get together on ethermine on the first of April and potentially have over 51% of the hashing power, in response to July's London release that has EIP 1559.

A bit of game theory here though as some of the ETH devs said if this happens, ETH could move to PoS sooner. Who knows. PoS has always been 18-24 months out at any given point it seems over the years...
 

MrGuvernment

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get a real jerb?! crypto should have never gotten this big.
I have a real job, and investing in Crypto is making me far far more money than other actual stocks ever have or will. Why should crypto of not gotten this big? Clearly a lot of very intelligent and rich people disagree
 

sgrinavi

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But it's technology, it evolves.. it's unreasonable, unrealistic and ignorant to think it's going to remain in their favour forever and if it dares upgrade and become something better then they will do all they can to destroy it. I think it gives them the right to bitch quietly and not threaten to destroy everything like spoiled kids... technology evolves, they should keep up with it or go do something else

btw, it would be a rather stupid idea for them to destroy ETH in any way.. they'd loose their farm and the ETH they have will become worthless. Its like having a temper tantrum because you dont like snow so you kick it and that causes an avalanche, now you're buried in snow lol

The point is that the change is going to destroy their farms anyhow. How would you like it if someone made a change that destroyed a business that you've sunk a ton of money into?
 

FlawleZ

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The point is that the change is going to destroy their farms anyhow. How would you like it if someone made a change that destroyed a business that you've sunk a ton of money into?
They don't have to like it, but they were foolish to think things won't change. Especially in technology and crypto.
 

sgrinavi

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They don't have to like it, but they were foolish to think things won't change. Especially in technology and crypto.

No, they don't have to like it, but that doesn't change the fact that they have a right to bitch about it.
 

oblox

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didn't the same thing kind of happen with bitcoin?
The closest thing was increasing the block size from 1MB to 2MB and integration of segwit. BTC never had forks planned to burn BTC & set dynamic fees or to transition to proof of stake.
 

oldmanbal

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So if this is the reason - my 3090 went from 113 MH/s to 143 MH/s this morning and is holding steady.

Or is the OP just talking about the eth 2.0 upcoming changes
 

sgrinavi

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So if this is the reason - my 3090 went from 113 MH/s to 143 MH/s this morning and is holding steady.

Or is the OP just talking about the eth 2.0 upcoming changes
OP is talking about the 1559 changes due later this year that stops giving transaction rewards to miners and burns the ETH instead. It's an attempt to lower transaction fees (gas) for (mostly) the DeFi guys. Miners are, understandably, upset since it's taking away income. Traders are all about it since it makes it cheaper to buy/sell.
 

oldmanbal

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alright I'm off topic then.

Back on topic, It's a strange position to be in, you have a product that is essentially miner driven, that they're looking to take the miners out of the equation for. I know everyone that codes a coin anticipates that it will one day be the central currency of the world, but I see eth floundering if they cut the miners out. Using Bitcoin as their example in which to base predictions off of shouldn't be the driving force. So many eth mining operations pay out to bitcoin that without eth mining, everyone would be in for a ride down a well bucket sans rope.
 

n0ob3r

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Bottom line, these are some pretty crazy times. I am hoping the Eth "powers to be" take into consideration the current infrastructure and how their changes may impact the system. However, I think it would behoove the Miners to start looking forward to see how their business opportunities may pivot in the future.

I have been on the line considering mining, but I feel right now it is more fun to watch =).
 

oldmanbal

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Bottom line, these are some pretty crazy times. I am hoping the Eth "powers to be" take into consideration the current infrastructure and how their changes may impact the system. However, I think it would behoove the Miners to start looking forward to see how their business opportunities may pivot in the future.

I have been on the line considering mining, but I feel right now it is more fun to watch =).
If we're not at the tail end of a bubble, then a lot of people are going to be getting very rich all over again.
 

sgrinavi

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If we're not at the tail end of a bubble, then a lot of people are going to be getting very rich all over again.

I don't know that we're at the tail end of a bubble, there is a lot institutional money in crypto and more heading in. Did you see that Morgan Stanley just opened up crypto funds to their upper tier clients? We could easily be at the beginning of a long term run.
 

oldmanbal

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I don't know that we're at the tail end of a bubble, there is a lot institutional money in crypto and more heading in. Did you see that Morgan Stanley just opened up crypto funds to their upper tier clients? We could easily be at the beginning of a long term run.
I have no problem with that. I'm in the camp that always keeps all their crypto banked.
 

n0ob3r

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I don't know that we're at the tail end of a bubble, there is a lot institutional money in crypto and more heading in. Did you see that Morgan Stanley just opened up crypto funds to their upper tier clients? We could easily be at the beginning of a long term run.
If we are not at the tail end of the bubble, perhaps 3dfx Interactive will come back and make video cards =)
 

Starfalcon

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If we are not at the tail end of the bubble, perhaps 3dfx Interactive will come back and make video cards =)

Yeah the more they keep telling people to get in, the more likely they want to make that last bit of money before the whole thing crashes down. Just like near the end of a ponzi scheme....

When it crashes this time it is going to be really bad, a lot more people are in it this time, and too many people paying way too much for video cards they likely will never make what they spent on them back. I cant even imagine what will happen to the video card market when people start dumping millions of cards on it....
 

sgrinavi

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Yeah the more they keep telling people to get in, the more likely they want to make that last bit of money before the whole thing crashes down. Just like near the end of a ponzi scheme....

When it crashes this time it is going to be really bad, a lot more people are in it this time, and too many people paying way too much for video cards they likely will never make what they spent on them back. I cant even imagine what will happen to the video card market when people start dumping millions of cards on it....

GPU Mining has nothing to do with the BTC run
 
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