/biz/ - Business & Finance

what do you think about it!!??

>>30362923
Your shitcoin bags (ADA, BNB) aren't going anywhere, poorfag. ETH o $20k this bull run

c o p e, miners won't do shit as they will still make ton of money even with 1559 active. If they leave others will replace them, the demand is huge

>>30362923
>more than 60% of miners have rejected that implantation
Im out of the loop wtf happened? What implantation? Wtf is eip 1559

>>30362923
Everyone realizes it, but 60% leave then another 60% will fill their void, or some of it will become federated?

>>30362989
you fucking idiot THIS IS BAD FOR EVERYBODY !!!!!!!!!!!!!!

>>30362923
based
>>30363079
This. And mining pools will still be able prioritize more profitable blocks. It won't make any economic sense for them to abandon or attack the network.

>>30363079
>the demand is huge
I see very little real demand to be quite honest.

>>30363108
this is a big drop of hash rate to have, it will cause panic, and they could attack the network before they go. it is 60 % !!

>>30363139
not if you hold eth lol.

>>30362923
>More than 60%
Proof needed you autist last time I checked it was less than 45%

>>30362923
theyre shipping eip -1599 with the difficulty bomb delay adjustment so the pools will have no choice, if they dont take the fork, the computation difficulty increases

>>30362923
any fork the miners try and make won't have any of the tokens on it
stablecoins and everything else will only recognize the EIP1559 chain

>>30363195
the worst it will be for ETH. fuck newfags that dont understand the network or how it works are everywhere.

>>30363180
Literally everyone I know who has a high end GPU is mining it or is considering mining it. It's 150 - 300 bucks / month on a single vidya card atm.

>>30363180
Anon have you checked the GPU prices recently? Who do you think is buying them?

>>30363396
yes but you lose them, and lose security. do you want to hold billions of dollars on an insecure network? also, they could 51% attack the network before they leave

>>30362989
20k?

Sure

>>30363491
they can keep mining on EIP1559 and still make good profit
or they can try to attack eth and then their expensive graphics cards will be worthless

>>30363091
gas fee too high
eip is a proposal to make blocks bigger which would mean less gas paid to minercucks

>>30363396
>any fork the miners try and make won't have any of the tokens on it
What does a forked blockchain even store then? Won't it have records of all transactions and smart contracts? I thought it would just duplicate the tokens and youd need to rename them

>>30362923
>5 yuan has been deposited into your account for this thread
Why would miners attack their own network (which they have purchased very expensive mining equipment for) and then why would a chain split have any value when all of the devs agree with eip1559 and are supporting it so the forked coin would have 0 development?

>>30362989
Maybe 3k, let's remain realistic here.

>>30363079
>>30363176
it will cut rewards in half, this is bad for miners. the thing that gets me is that in a PoW chain, the chain with the most hashpower is the real chain. miners still technically decide which eth is the real eth. if the majority of miners stay on the old chain, or move to a fork (note how Vitalik went out of his way to make this update pretty much unforkable, not a mistake lol) then technically the EIP can be rejected. but imo enough hashpower will follow whatever he puts his name to that this won't be an issue. basically abandoning the principle of on-chain governance completely...

>>30363534
no dude, they lose A LOT of profits!!! and this is their LAST chance to make any profits before ETH goes to POS. so it is a BIG financial hit!!!!! also they are not it is for the long term , and that makes it WORSE !!!

>>30363236
www.coindesk.com/ethereum-improvement-proposal-1559-london-hard-fork%3famp=1

>>30363735
yeah they should just let cashed up chink miners and cz associates control the direction of eth and delay eip1559 forever while pushing bnb not the devs themselves building the network

ethereum cant be forked. they can mine ethereum classic instead, but ethereum has too many centralized entities on it for forking to work, like stablecoins.

Sir u underestimate the skeleton, there is a difficulty bomb that makes ETH unforkable they literally can't remove the difficulty bomb without causing many errors in the code even if the miners hire devs they still can't disarm the difficulty bomb without a signature signed by the core dev's ETH address, reverse engineering the code to forcibly remove it will take months and need several more months of testnet before releasing by that time ETH 2.0 will be in the final phase. Checkmate miners serves them right for being greedy, if u guys need me ill be on ebay waiting for those $200 RTX 2080s....

>>30363805
THIS !!!!!!!!!!!!!!

this is like when the Finnish miners striked and the US sent in people to kill them all

>>30363421
if you're actually an oldfag then please leave and learn how blockchain culture and economics work, what's best always wins. And EIP 1559 is the best thing that can happen to ETH right now.

>>30363830
Sorry that this is how crypto was designed lol if you don't like it, good thing Vitalik is here to break that design

>>30362923
worst outcome is a chain split, in which case nobody will use the old chain and miners will be forced to bend the knee to 1559 anyway if they want to make ANY money.

this has been a great experiment in human psychology, but when it comes down to it these retards will be getting dicked down hard and comply with their master in the end

>>30363971
Sir they will hardfork Ethereum classic and try to pass it off as the real eth lol its their only choice xDDDD

>>30363971
lol this is wrong. they can still fuck you over. you NEED them for securing the network!!!!!!! YOU NEED!!!

>>30362923
There won’t be a split. Miners will eat whatever shit the eth devs dish out.

>>30362923
Good point. Hadn't considered this before because miners have been so cucked. With Bitcoin, miners have no insentive to attack the network because it would just undermine their source of value. But with Ethereum's devs backstabbing the miners, they have every insentive to 51% attack the network after most miners have left.

>>30363839
Bitcoin was forked by the miners.

>>30364032
im for the lower fees. bit i know the risks, and nobody is talking about the risk that can happen. and you dont know shit. we had problems like this before, it was always bad for the price

>>30364112
miners dont have an long term interes in ETH because of POS, but btc is different.

>>30362923
I don’t care I will just buy the parts then to mine it
Miners are being huge fucking faggots about this, they are literally advocating to gas fees in the hundreds to thousands of dollars because they need to cover the costs of the scalped GPUs they hoarded for the past year.
I will just fucking mine it then if it’s profitable, which it will always be

>>30364307
Eip1559 doesn’t reduce transaction fees.
It makes fees less volatile and burns eth that would have gone to miners. Eip1559 will make transactions less volatile, but not cheaper. If 1559 raises the price of eth, the network will be even more expensive to use relative to usd.

>>30363619
>What does a forked blockchain even store then?
the fork won't store anything
tokens on the non-EIP1559 won't be recognized by anyone

>>30362923
Lets say the absolute worst will happen. 60% leaves and does a 51% attack. This will indeed be devastating. But how much will this cost that 60%? Fucktons of money. They will be in minus. While if they just swallow the 1559 pill they will still make money.

In other words, I'm not scared.

>>30364169
oh like when btc wanted to give up decentralization for more tps? How did that end up?

>>30363786
they've been making 200 dollars a month off of a 800 dollar card
they've more than been taken care of
they're still going to be making plenty of money
i can't wait for PoS to finally happen so this shit never happens again

>>30364504
Actually it costs miners nothing because they can dump eth before attacking and mine a different coin.

LOOK AT ME
I'M THE BASED SPIDER OF NFTs

>>30364169
the "people" (projects, trades erc20 deployers etc) WANT eip1559, so which chain will they use? The one the miners want or the one the they want?
>oh noez we lose hashpower
Well even more incentive to be mining there then.

>>30364157
bitcoin doesn't have tokens and stablecoins on it
this is very different

>>30364504
not is they sell their coins FIRST !!!!!!!!!!!!!

>>30362950
>what do you think about it!!??

OP is a faggot

>>30364574
you cant get the GPU's you cant get that hash power, there is NO WAY !!!

>>30364169
I thought you were just a clueless retard, but now I see you're also being a huge faggot. Did you forget about the difficulty bomb? All the other harmful options they have, like copying the state to a new coin or copying the chain with a reset is not viable for obvious reasons. The only thing they can do is to maintain a soft fork to block the effect of EIP-1559 aka MASF, which is possible only with majority cartel deal.

>>30362923
I'm a a miner and I fucking wish more than 50% of other miners would gtfo of eth. It would let me make so much money

>>30364731
i know about those things. but you still dont get it because you are a retard. i could draw it to you, but it would not help.

How much of a cuck for miners can you be to not want eip1559 to happen?

Like theyll just hoard their eth and make passive, who cares?

>>30363971
One smart dude

>>30364417
without high bidding to get in the block gas prices will lower because of it
plus the block size is doubled

>>30364863
>You're right but you're still wrong
You will never be a woman and all ETH killers will fucking die.

>>30364755
rewards are getting slashed anon, if 50% leave you might make as much as you do now

>>30364940
it will better organize the bids but it doesn't guarantee gas costs will fall

>>30363735
Nope not bad news. As a miner I can see where this is going. Miners who didn't believe in ETH will leave and decrease the difficulty to mine for others, offsetting the decrease in rewards. If the price skyrockets we'll be making more money than BEFORE EIP-1559.
I'm still going to mine, and so will millions of other miners. There might be a fork, but it will be DOA. This is FUD.

>>30365215
hopefully with bigger block size that will help congestion somewhat which should help slightly with prices
i don't see it reducing it drastically but i could see a 10-20% drop on average gas prices

>>30364863
are you the retard that recently invested $50k in eth mining rigs? I think you posted something like that yesterday, you sound pretty salty kek

>>30365318
I'm a miner too so you can shove that lmao. this isn't fud it's an objective description of what is happening

>>30364157
bitcoin is 100% decentralized, and any fork is technically as good as any other, the community decides. on ethereum, centralized entities decide which centralized stablecoin is "real", or which ico token is "real", or which eth they consider "real" for purposes of collateral.

ethereum at this point can't be forked.

>>30365617
That's why I'm all in into ETH killers, sooner or later people will realize that and jump ship.

ADA + Tezos + DOT

>>30365617
or rather, if it is forked, and these centralized entities don't all centralize in on one fork, both forks of ethereum get fucked, unlike on bitcoin, where bcash1/2 got fucked.

>>30365738
will all have the same problem if they're going to be used for anything. not to mention they're all too late to truly compete

>>30362923
noooo
not the heckin minerinos!!!!

>>30362923
So nobody is talking about that more than 60% of miners have rejected that implantation. So that means there is a possible chain split, drop in hash power, loss of security, attack on the network by the miners. Look then don't have a incentive to keep the network safe because they will take their money now, and ETH is going to POS in a year or two. So why would they secure the network? This could be a shitstorm im telling you, and nobody is talking about it !! WHY? are so many newfags in so that they don't know how POW works and that miners are important? I'm not saying that there will be problem but there could be BIG PROBLEMS!!

>>30365617
Centralized entities decide which bitcoin forks are "real," too. You don't see Paypal supporting Bitcoin Gold.

>>30366114
read the thread
any fork will have a difficulty bomb that will kill that fork in months
plus all the stablecoins and tokens will only be on the EIP1559 chain
miners will bitch but they'll capitulate and mine on the EIP1559 chain

>>30366114
ah yes we're getting another bitcoin cash

>>30366114
>So why would they secure the network?
because Vitalik basically salted the earth around ETH. it is basically impossible to fork and they implemented the difficulty bomb on the current chain so miners can't even stay on this one like the ones who stayed on ETH classic lmao

>>30362923
the miners rejecting are mostly pools

>>30362989
why 20k lmao

>>30363971
Bbbbbased

>>30365798
Theyre proof of stake you mouthbreathing retard

>>30366689
that doesn't change the fact that they will have centralized applications built on top of them. it's the ecosystem built on top of the platform that make it difficult to fork, not just the platform

>>30365798
Also Tezos doesnt fork, it has a selfgoverning protocol to implement changes

>miners can make 50% of what they were making in ETH with EIP 1559
>miners can switch to BTC
wow wonder what they'll do.

>>30366871
>>miners can switch to BTC
They can't. At least not without completely replacing all their hardware.

>>30366871
Yeah because mining btc with graphics cards is totally feasible against ASICS.

>>30362989
Lmao are you retarded
More like 100k

>>30367018
>>30367087
>REEEEE NO THEY CANT
>what are hash brokers
retards

>>30362923
ETC fixes this

>>30362923
I think gas prices will just up and miners will get the same amout

>>30362923
OP is uneducated.
> ETH was paying waaay to much for seucrity
> ETH can sustain its network if it only has 10% to 25% of it network hash.
> Asic Miners are coming online in a couple of months to replace broke GPU miners.
> As broke miners leave the value of mining goes up causing miners to fill in the miners who left. Mainly this would be top tier GPU miners
>Price of ETH goes up (2k 3k 4k) making mining very lucrative. If this happens why would the miners leave.

Has brainlet OP even considered ANY of my points. I single handedly dismantled all of his FUD in less than 5 minutes.

There are many vids on youtube supporting what I stated. I was there for the Cat Herders call and know the in's and outs, OP obviously wasn't or hasn't bothered researching.

>>30367462
>this

if you pay 100$ in gas now.
You will pay 1000$ in gas when ETH did a 10x.

>>30366871
>>miners can make 50% of what they were making in ETH with EIP 1559

Not true. DYOR.

>>30367531
>vids on youtube
the blockchain understander is here

>>30363735
Please tell me how miners have decided that ETC is real ETH.

>>30363180
you fucking retard dont even get what hes talking about

>>30367684
the majority of miners didn't stay on ETC, what are you talking about

>>30367584
>DYOR
what do you think ETH miners will make, percentage wise, on EIP 1559 compared to current? genuinely curious.

>>30367758
Also look up Segwit2x. Miners can signal whatever they want. In the end exchanges are kings.

>>30363710
imagine eth will only go to 3k

>>30363786
ok now your fudding

Realistically, whats the top of eth if btc goes to 250k-300k

>>30367952
If btc shoots into 500k, ETH will be at least 33k.

>>30367952
75K to 100K ETH

>>30364157
how do you power on your pc with this iq..

>>30367630
Yep and those meeting between the devs and miners are under Bit Be Trippen...
Your welcome.

>>30367985
if you used btc/eth pair from several years ago - eth had more coins 'created' since that time than btc.

>>30367952
it would decouple at that point
like 90k-100k

>>30362923
difficultiy booba

ETH is whatever Vitalik says, if miners want to go then bye miners

>>30367843
>Segwit2x
was a total failure but if they actually managed to successfully fork the chain and 80% of miners moved to B2x then yes, it would have been the real bitcoin. there is no other objective way to determine which chain is real lol. yes, developers and exchanges matter, and they are even enough to sway miners decision (I explained how Vitalik has set this up so the miners more or less have no option) but at the end of the day, the only way a pow chain functions is if miners choose to mine it

>>30367789
They could break a lil under even at worst and make a shit load when ETH hits 3k to 10k. Anything over 3K will make miners a shit load of profits...

>>30367972
Huh...? More like 100k to 150K if BTC were to hit 500K... Most likely more considering the value proposition is taking off due to de fi..

>>30368019
>>30364157
it was forked by devs, supported by miners and legitimized by exchanges...
>>30368152
no, I get that logically it should be miners with biggest pow chain. but if exchanges and users(devs) don't support it - miner literally can't dump their mined coins anywhere regardless of how 'valuable' they are to miners.
>>30368216
regarding defi - I estimate that defi coins will syphon value from eth. no big deal if you already hold some of them.

>>30368269
>defi coins
defi tokens*

>>30368123

>Vitalik the dictator of future money

naah

>>30363735
The Ethereum network isn't supposed to exist for the benefit of the miners, it has a far higher purpose than that. Any miner that cares about the mission of Ethereum won't stand in the way of progress.

>>30368314
alright sure, let's prop up another Craig Satoshj figure and have him create ETH: Real Vision or smth.

>>30368269
I guess it's a bit of a chicken and egg scenario, exchanges will always list the bigger fork for the volume (hell they list lesser forks too) but the fork can only gain traction with an exchange listing

>>30364051
ok, china

>EIP 1559
>EIP 1559 flips a typical blockchain transaction on its head in order to fix numerous issues with Ethereum’s user experience. Traditionally, a user sends a gas fee to a miner for a transaction to be included in a block. That gas fee will now be sent to the network itself as a sort of “burn” called basefee with only an optional tip paid to miners. The burnt fee is algorithmically set as well, ostensibly making it easier for users to pay a fair fee.

No fee economy? Wtf

>>30368368

or lets throw out all this ETH muh first mover and come up with something that can scale realistically not as "I promise it will scale once we do next EIP"

I really don’t care about this, I will probably make more money with the ETH I have accumulated and invested in than I will with mining. I basically mine with a 3070 and 2070S just to cover the absurdly high ETH fees and I still manage to make around 220€ a month.
Fucking niggers just want to make free and fast money off of mining without caring if their coin ever gets updated and moves forward

wait so is it gonna be proof of stake now? Should we stock up on ethereum?

>>30368385
Cz's exchange got burned after he listed Bitcoin Diamond fork and people literally dumped on gullible noobs. At which point he listed future btc forks but in 'withdrawal' mode only. I guess he received a hella lot complain tickets.
>>30368434
now that's more sensible. but so far too many people don't want anything but ethereum.
>>30368458
some say you should have at least 32 ethereum.

>>30368354
>>30368400
I'm okay if you have a moral argument for why you think crypto should work differently, I don't think crypto is perfect. I'm not making a moral judgement, just talking about the reality of how forks work in crypto lol. As a miner I am against the EIP but from a developer perspective, fixing gas auctions is pretty necessary. If I had to take a moral stand here though, Vitalik shouldn't sabotage the original chain to prevent forking, that seems pretty clearly unethical

>>30362989
keep dreaming ethnigger

>>30368524
FUCK idk where im supposed to get enough money for fucking 32 eth. Holy shit anyone with 32 eth if it goes through is gonna be rich af arent they?

>>30368545
But here's the thing. You can fork ethereum and try to convince everyone that you know better than Vitalik and that your Ethereum: Real Version is not having that EIP. Will people follow you and buy your bags? Or will they not?

>>30368524
>now that's more sensible. but so far too many people don't want anything but ethereum.

Once ETH competitors are in full swing ETH will just stabilize as one of many Smart contracts platform.

One platform will do this other will do that. I dont see it as one blockchain to rule them all but I see ETH as one of the weakest in the space.

Since ETH went live many others came up with better solutions and ETH will just have to make space for ETH competition.

>>30368626
>You can fork ethereum
actually, you really can't
>On the call, Ethereum developers decided to pair EIP 1559 with a delay to the difficulty bomb. Also called the “Ice Age,” the bomb incrementally increases the difficulty of mining on the Ethereum network. Geth team lead Péter Szilágyi said that pairing EIP 1559 with the delay helped ensure no one would fork Ethereum at that time without having to undergo some technical hurdles.

>>30368684
This is very funny and I laugh at the unquestioning vapidity of people who say "smart contract" and just let other people fill in the details as to what that should mean and what the value should be. The mistake here is that "smart" is a misnomer. A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract; contract wording requires interpretation and that can require some of the highest order thinking. It is therefore smart.

A contract on Ethereum, then, isn't smart. It is a dumb contract. It is dumb in the sense that it executes itself, whether it has been audited and validated or not. And for that reason, you get fraud, after hack, after loss, after gimmick, after scam and essentially fuck all in-between.

And for what reason would anybody need to run computer programs in a decentralised way? What the fuck is the point? I can understand a currency being decentralised; that is completely intuitive and innovative, but running programs is useless as it is so insanely inefficient. Anything you could run on Ethereum you can run on AWS and it will be cheaper, faster and more secure, therefore resolving the trilema of and revealing Ethereum to be completely and I mean COMPLETELY redundant. Just because something can work doesn't mean it has value, much like a kettle connected to a dynamo on an exercise bike would work. Ethereum is a fucking joke.

>>30368625
you will be able to stake less in staking pools, 32 eth is for solo staking

>>30363971
based explanation but... is this really how crypto is supposed to be?

>>30364504
nonono sir. proof of stake gives you this protection. PoW means that when they get the hashpower you are fucked.

All roads lead to BitCoin Satoshi Vision.
Few understand this.

>>30365798
tezos cant fork lol. 2 upgrades have already decreased gas fees

>>30368770
>what is chainlink
lmao holy fuck you are retarded
thank you for outing yourself

>>30362923
>nobody is talking about it
disingenuous

https://www.youtube.com/watch?v=EdXhL6VR0mU

everyone already talked about it

>>30368770
>And for what reason would anybody need to run computer programs in a decentralised way?

trust.

>>30362923
dear cz
your shills suck
>>30362950
dear cz
your shills suck
>>30363139
dear cz
your shills suck
>>30363189
dear cz
your shills suck
>>30363421
dear cz
your shills suck
>>30363491
dear cz
your shills suck
>>30363786
dear cz
your shills suck
>>30364000
dear cz
your shills suck
>>30364084
dear cz
your shills suck
>>30364169
dear cz
your shills suck
>>30364230
dear cz
your shills suck
>>30364638
dear cz
your shills suck
>>30364705
dear cz
your shills suck
>>30364863
dear cz
your shills suck

>>30366141
But they did support Bcash, with Bitcoin it's pure community, if the community entirely rejected the Bcashes they wouldn't matter, but the community can't decide which chain USDC considers valid, or Tether, or Maker, or Uniswap, etc.

>>30366689
What has that got to do with anything? Value staked is decimated just like hashrate in a contentious fork.

>>30366853
>>30369047
Of course it can fork, a few lines of code and pinky-promises doesn't stop somebody taking the code, changing it, and launching another one.

>>30368770
>what is kleros
I summon you to kleros court bloody

>>30368770
Mega cope holy shit

>>30363079
This right here. Besides, POW is going away once POS starts. Miners can suck it for all I know

>>30369282
>Bcash
>spacing
back to reddjt with you

>>30362989
I'd be really surprised if it hit 3K USD at any point

>>30363786
Good fuck miners

>>30369282
hardfork dipshit. not forking code lol

What are people's honest opinion on where they think eth will peak? I can't see it ever getting beyond about 7/8k.

>>30369411
>>30369300
>>30369266
>>30369093
stop replying to pasta

>>30362989
Eth is dead

>>30369466
K E K the state of you

>>30369694
kek

>>30362923
Heres the thing, either eth dies because of high gas fees, or miners kill it because they arent profitting from high gas fees.

>>30368770
this pasta should be turned into an nft
so many newfags thinking this is real

Now, when it comes to Chainlink, before you buy, let me tell you a story.
I was visiting San Francisco to see one of my friends. We went to a strip club, and while I was there, I saw Sergey, surrounded by women. He was throwing tons of money at them, but not just bills. It was stacks upon stacks of $10,000, sealed up with the white paper bands, like he had just come straight from a bank.
I went up to him and congratulated him on the success of Chainlink as of late (this was about a month ago), and he started laughing. He took a hefty swig from a bottle of Dom Perignon, and said, "Yeah? You think I care, stinky?"
Confused, I asked what he meant, and said that he had obviously put a lot of work into LINK and he should be proud.
"I don't give two fucks about Chainlink, kid."
He was about to say something else but one of the strippers tapped him on the shoulder. Sergey pulled out from his pocket the biggest ziplock bag full of cocaine I've ever seen in my life. It looked like one of those gallon bags, almost bulging at the seams. The stripper ran off into a back room with it.
He then pulled out a Zippo lighter.
"You wanna know what I think about Chainlink?"
He picked up his bottle of champagne on the floor, pulled about 20 stacks of bills from a duffel bag, threw them on the floor, poured champagne all over them, flicked his Zippo, and dropped it onto the pile. Almost instantly the whole stack caught.
I stared at him, speechless.
"It's called a 'PUMP and DUMP,' kid."
He laughed as he watched the pile burn before losing interest and going into a back room with his entourage of strippers following carrying duffel bags full of what I assume was money and coke.
This is the man you are supporting by buying LINK.

>>30369282
>the community can't decide which chain USDC considers valid, or Tether, or Maker, or Uniswap, etc.
All of those things are part of the community, and depend on users for their success. If users/devs chose a specific fork, all those platforms would have to also support that fork, or risk being replaced on it.

>>30364169
>im for the lower fees
Do you even know what 1559 does?

Based colossal retard

So this is the EIP that will split ETH once again and decide once and for all who will be this chain killer, ADA or IOTA, I have my bag on both.

>>30362923
>more than 60% of miners have rejected that implantation.
The only thing that matters is whether or not the exchanges accept EIP 1559. If the exchanges accept the EIP then miners have no choice otherwise they can't deposit and sell their coins. Individual miners will just shift their hashrate to pools that do accept the EIP.

>>30362923
>load the cope thread CZ