0

promoting the pool

Jim M. 3 months ago • updated by happyserendipity 3 months ago 3

The ethereum pool really needs more hash rate. I have been promoting the pool on websites. I type some message about the given subject then include some comment about mining at coinfoundry.org 


Other pool mates should also do this.

Honestly, I think ETH mining at small pools is going downhill and will only get harder. As much as I like Coinfoundry, I don't see the hashrate reaching our highs ever again on Eth.  Reasons:


- increasing difficulty

- ongoing community discussions on another difficulty bomb and/or decrease of ETH mining rewards due to high inflation

- looming PoS switch


I myself have been mining ETH here for 95% of my mining time, but I stopped mining ETH all together recently, because I don't want to switch to a larger pool and for the above mentioned reasons as well. I'm only a single GPU miner, so for me it's more of a hobby and I switched the coin I mine all together to another one, more of a speculative bet really.

Well, I'm pretty sure ethereum is stuck with proof of work. I think switching over to some delegated node system would be the most fundamentally challenging task which I think explains why the "proof of stake" fork is now being described as a hybrid PoS/PoW system. Coinfoundry just needs 1 more giga-hash of ether mining power to make mining rewards sufficiently consistent. 

The hybrid PoS/PoW system is just for a transitional period as far as I understand. Decreased rewards are being requested in number of EIPs, so it's likely it will be decreased before the difficulty bomb that is expected in Q4. One of these will make mining Ether yet again less profitable even before the hybrid system. PoS is coming, PoW on Ether will be gone soon or later, more likely later, but it will still happen. Until then we'll be de-incetivized to mine it anyway.