EIP Discussion - Proof of Work Incentive Structure and Difficulty Bomb

[atlanticcrypto]

Presentation on EIP-1295 here:

https://tinyurl.com/ycjec3no

[cheeselord1]

The following statement in the presentation doc is extremely misleading: EIP-1295 PROPOSAL BROADLY IN LINE WITH DRAFT CASPER FFG YEAR 1 ISSUANCE

Brian mentioned on the Core devs call this morning as well that EIP -1295 brings inflation in-line with Casper FFG estimates for end of year 2019. This is just completely false

Focusing on year-1 averages and defining that year as (10/15/2018 to 7/12/2019) is academically dishonest and completely masks the difference in issuance. In July 2019, daily inflation under EIP-1295 is 30% higher than under the draft Casper FFG issuance. And end of year 2019 daily Casper FFG issuance is conveniently left off the chart because there would be an even greater discrepancy.

Nobody forget: The authors of this EIP is a large mining operation with a massive profit incentive in getting this passed. In addition to benefiting from potentially avoiding a block reward reduction, a decrease in uncle rewards will likely help them vs. major mining pools (which have added latency to distribute shares to individual miners)

[atlanticcrypto]

@cheeselord1 the dates on that spreadsheet are QUARTER STARTING dates. That is inclusive of the entire quarter.

I also advocated for an incremental reduction at the hard fork date next year, with a defined issuance cap.

@cheeselord1 you know who I am. Who are you?

[VoskCoin]

I believe that Ethereums PoW has been pushed aside too long already. The impact of ASIC miners is a negative one, mainly due to the centralized parties such as Bitmain who put their profits and bcash above anything else. While I do not believe GPU mining to be as pure as many make it out to be, it is much certainly a better alternative than ASIC mining.

Furthermore Ethash was built around GPUs, and a PoW change to something that capitalizes on the strengths of graphics cards seems to be a fitting solution for Ethereum in my eyes. I am not a ProgPoW shill, however they certainly seem to be one of the best current options.

Ethereum mining is was led me to be consumed with cryptocurrency (in a life changing amazing way), if ETH has been an ASIC coin, that would have never happened . . along with many others. The incredible grassroots adoption impact that GPU mining (or CPU HDD etc) has over ASIC mining is hard to quantify, however I believe it to be incredibly powerful. It would be unlikely I am here, especially in this magnitude -- without alternatives to ASIC mining.

I will be discussing this a bit further in my crypto news update livestream today, I'll be asking my community to voice their 2 cents in the live chat box for those interested in reading their thoughs. https://www.youtube.com/watch?v=9YglKVozlnI

[Wotever86]

I have been mining Eth in my farm for about a year and half, Never have a had such a un profitable mine as I have today, with the difficulty and extreme low price of the eth network I have lost most my faith in Eth. Please fork off asics, and gain my faith back. This project had the potential of being the next Bitcoin. Its not too late, it still could be. I have current moved my Rigs to Bitcoin gold (shit project). they at least forked asics off. I have more faith in them then I do ETH, and i have been a long time ETH supporter.

[Cryptominetech]

I would like to submit that I wish Dagger Hashimoto would fork. The far reaching effects of large centralized profiteering companies, I.e. Bitmain are effecting the difficulty and making it nearly unreasonable for a gpu miner to contribute their work, their power, and their time to support the network. Having a centralized underpinning contributor processing the network goes against the initial tenants of Ethereum and to not fork, in my mind, would be hypocritical and sends a clear message that the ethereum project does not value its decentralized contributors. We are all cogs in a large wheel and we all play a valuable role in this community. To not fork and not become asic resistant will stimulate miners to become disinterested and disheartened thus placing large asic organizations in control of the network. Thank you for your time.

Sincerely,

Keith Streeter CryptoMine Technologies

[sloppycoffee]

Bitmain is going to kill eth if there isn't an algo change. Whole movement is with decentralized in mind and Bitmain is the definition of centralization. Change to ProgPow and be done with it. By the time PoS and Casper are released the community might have switched to a project that is ACTUALLY for the people and not large billion dollar corporations....

[Dynaminer]

Just switch to progpow and be done with it!

[S0Lminer]

Aside from the original intention to be ASIC resistance, ETH has forked for much less. GPU mining isn't necessarily a required path to decentralization, but it does help with consumer grade participation. Community participation/contribution on a project starts with mining.

[nlrobbie]

Please fork ethereum, the sooner the better. Let's get eth back to gpu mining and screw asics..

[Machete3000]

The original intent of ethash was to be memory hard and thus ASIC resistant. Fix it.

[Thatfinchguy]

the fork should be already done since not only bitmain but innosilicon etc. etc. are incentiviced to start producing their ASIC miners that only destroy the average GPU miner at home that by the way those are the ones that help all this to be descentralized STOOOOOP ASICS PLEASE😡😠

[Tuxnor]

ETH need to fork off ASICs before november, i wont tell why , just do it.

[DubiousDragon]

No PoS fork please.

I don't understand the PoS love among non-commercial miners.

Basically non-commercial GPU miners want to kill non-commercial ASIC miners so bad they are willing to turn the entire market to extremely wealthy whales who often are basically commercial miners/investors. Back when miners were in the mid four figures I can see where the sentiment started. But heck even bitmain is now selling ASICs for $500 with PSU and a discount coupon. Anyone can more afford an ASIC than a mining rig and use a lot less power / more profit.

Talk about cutting off one's nose to spite your own face... it's like working folks who killed their own unions since the 1980s then wonder why corporations now have all the control.

[hsantosjr]

Big players like Bitmain has monopolized the cryptomining industry for such a long time now and defeating the main purpose of decentralization... Please make Ethereum great again by making it ASIC resistant for the good of the community..

[aboutkab]

As a fellow GPU miner, I have to agree with most of previous comments.

If the programmers, developers and the ones who consider themselves in charge (#Vitalik) of the ETHEREUM project have self respect they should consider coming back to the original idea of a decentralized CryptoCurrency/Blockchain.

I honestly have the feeling of beeing ripped off here, after all the convincing of people to get onboard with the decentralized blockchain idea and then you guys letting it get hijacked by 1 or 2 entities is completely ridiculous. I only see blockchain failing because of this, those ASICS companies will pop up like mushrooms if that's the way it will go.

So please guys, fork the coin for GPU PoW or at least ProgPoW this would be the most noble thing to do from your part.

[danodes1]

As a miner with 1200 MH of hashrate, I joined the movement in June/July of 2017 and supported ETH through the ups and downs. Now seeing BITMAIN take over the network that we created is heartbreaking and needs to stop. I know that the majority of the community favors true decentralization and this simply cannot be achieved through ASICs. It also is disrespectful to those who truly founded the ETH network.

[the-nforcer]

PoW mining with GPUs were a big reason that Ethereum took off. This road to PoS seems like the developers are turning their back on the users that helped them grow. Why not ETH as PoS and ETC with PoW at least?

[DubiousDragon]

Reminder: very wealthy people will wipe hash rates using GPUs. Bits Be Trippin are good folks but they are not making anyone's life easier. And they are a "relatively small" operation.

2,500 GPU farm in the USA. Sigh... https://www.youtube.com/watch?v=LT_XiUDGADg

[onephatminer]

ETH is all ready behind the 8 ball by waiting this long. They need to get a fork going for asic's and FPGA's now, many GPU miners have sold out there eth to BTC and moved on to other cryptos because of the lack of holding true to there whitepage for asic resistance. Maybe if they do finally do something you will see us gpu miners come back and buy back in eth.

[AshVattakunel003]

Eth must fork because asic mining creates centralisation, and I thought that the whole point of Cryptos was to get away from that. I also think they should fork because we must show bitmain and all the other asic miners that we won't take their bullcrap, and also to help people who use GPU and CPU to mine Eth. Eth should fork to anti asic algo ,like monero, and decrease block reward to 2 to prevent asics trying to break the alto.

[tomato84]

Please fork ETH to keep it a true decentralized crypto!

[ghost]

I believe that forking off the ASICs is essential for Ethereum and other cryptocurrencies success. Changing to PoS or allowing Bitmain to take the majority of the network hashrate completely defeat the purpose of decentralization: the most important element of cryptocurrencies.

[youknowit84]

You should definitely do the fork, so there aren't Warehouse is full of Asic miners collecting and then flooding the trading markets with your coin. And keep it proof of work, all proof of stake will do is have people hoard you're coin to the prices Peak and they can do a massive sell-off and kill the value. Seems like both would not be great.. GPU mining for life!

[rmv-666]

ASIS resistance is essential for hash decentralisation. Fork or follow bitcoin path and become bitmains hostage.

[proinfo]

Bitmain now asks for KYC/AML. Basically they are building a database of known miners around the world. We MUST fork off from their impact!

[youknowit84]

GPU mining is what made ETH possible ( not including that big investors) , they are forgetting the people that have been investing for a while now, with their money, their time, and choosing the back their coin over Bitcoin and Litecoin...

[WeMineBlocks]

Currently ASIC resistance is the only path to a decentralized mining ecosystem. The argument that ASIC miners provide a higher level of security is crazy. It gives a very centralized group complete control over the network hash rate. The most secure chain is one where we can all participate in the mining process (i.e. Monero).

[Shankymahajan]

Let's fork. It'a too long. ASIC has made ethereum too centralized.

[ayman-alawneh]

I lost my faith on eth long time ago. They simply don't care and they have the biggest pools to mine ethereum So they dont care

[Thatfinchguy]

the fork should be already done since not only bitmain but innosilicon etc. etc. are incentiviced to start producing their ASIC miners that only destroy the average GPU miner at home that by the way those are the ones that help all this to be descentralized STOOOOOP ASISC PLEASE😡😠

[lopezs994]

I wish Dagger Hashimoto would fork. The far-reaching effects of large centralized profiteering companies, I.e. Bitmain are affecting the difficulty and making it nearly unreasonable for a gpu miner to contribute their work, their power, and their time to support the network.

The new algorithm should be ASIC resistant to provide a long-term solution.

[16eidenr]

Please go back to what made ETH great. ASIC RESISTANTS algo. Or Bitmain will ruin your coin.

[danieldanielnova]

This can be a major point for Ethereum's history in terms of community support guiding the issue at hand and having weight with the Devs. I am glad to see that the POW change is being considered, paired with an issuance reduction will be fine. Without a POW fork an issuance reduction would be devastating.

[MNKanout]

Bitcoin ASIC mining operations are been controlled mainly by big companies like Bitmain. If that would be the case for the second biggest platform in Crypto, then we should say goodbye to decentralization. Not mentioning that mining Eth these days with the best GPUs is not worth it considering how much it does cost to run the miners. Please FORK AS SOON AS POSSIBLE, and make sure it's ASIC RESISTANT algo

[sponix]

ProgPow has my vote. It has the best future for miners.

[kazinario]

I got into the crypto world earlier this year and invested a lot of time and money to build my GPU rigs instead of just trading and making a quick buck as I believe in the value that work generates. Beside the drop in price of crypto that is disappointing, what is worst is the release on Etash ASICs. Please put yourself in our shoes and see how bad it is. Please Fork and make it ASIC resistance again as it is the only way to stay decentralized and make a difference.

[BWeberCoin]

“Viable Individual-scale mining requires ASIC resistance.” Vitalik 9/16/17 source=Twitter.

A fork would create huge waves in the crypto economy. The fork would stick it to Bitmain who’s main obsession is dominance over crypto mining which is supposed to be a decentralized concept distributed amongst the masses.

I think Casper is a great idea and feel that going with the fork would be more beneficial to the masses in the mean time, while allowing Etherume to finish Casper and go out with a bang before switching over to POS.

GPU mining is how it started and ASICs already win over daddy Bitcoin. Give one back to the Ma & Pa shop small scale GPU miners who have gave their support since the beginning!

[ivangospodinow]

Dont fork and let us move to a better project.

[balukl]

Fork against ASIC & FPGA.

[Remie9]

Fork Asic, Crypto is for the people not money minded firms. If you want adoption then fork if not go for selfishness and money but this won't last long.

[mariodragicevic]

I have been mining Eth in my farm for about a year. Never have a had such a un profitable mine as I have now, with the difficulty and extreme low price of the eth network I am loosing my faith in Eth. Please fork off asics, We want decetralised ETH, We want mass adoption, not ASIC adoption.

[ninjabogey]

Fork away from asic. Remove the blight that is bitmain sucking the life from crypto.

[tinkyisretarded]

There are alot of reasons to move away from ASICS, lots of them already exposed in above posts. In addition to that I just want to say that forking for ASIC resistance is a duty of honour towards the ETH community.

[egildh]

Ethereum was the reason I got in to mining in the first place, mostly due to its “asic resistant algorithm.” I am not happy about eth not following Moneros example and forking off asics immediately. Please make it right and fork!

[yanivkalfa]

I think a lot of people like myself have invested time and money into rigs/gpus that will mine mostly ethash algos due to eth asic resistant promise. It kinda feels like the team dont really care about the miners/community - The people that helped push the network to where its at now.

More over as i understand ProgPoW is a fork of the current algo with changes that would make it even more asic inefficient, so if its not a huge change maybe its worth doing.

[DaReaLDeviL]

As long as asics are not as easy availible as gpus for everyone in the world - etherium should resist asics and fpgas to stay true as possible to "normal" people. Asics and fpgas are actual only availible to the big players dominated by one company and we all know that this is not good. So a switch to a differant algo is a must, but it hasnt to be this proposal, it should be the change that is SAVE for the coin and last at least for the next 2 years. I hope the right descissions will be made.

[davidleemy]

eth not doing any change it will get fully control by bitmen asics very soon... the decentralized philosophy of eth will die.

[Skycomm]

Please don’t be obsessed with price and think dropping the payout will help ur project change thealgo don5care what to maybe progpow lets kill the ASICS and make it great again eth sucks atm take out the ASICS and things are back to normal and don’t rush Casper

[leesafur]

Kill the asics please

[RussellFerris]

Please fork the algorithm to be more ASIC resistant.