HomeMining Video TutorialsEthereum Classic Fifthening HAPPENED | PROFITS DROPPED HOW MUCH?

Ethereum Classic Fifthening HAPPENED | PROFITS DROPPED HOW MUCH?


Ethereum Classic Fifthening
In this video I check out ETC Fifthening and the way a lot this might have an effect on your each day income sure in principle the value ought to go up however will it?

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  1. After the switch to POS all the coins will see hash rate push all the main coins to a lose. Then it will be a battle between people who are running this as a business and people who are a hobby. Personally I can take a lose on power bills to about 10k a year and just write off the lose to offset profits from another company. But it will be war. Some will lose and some will win. I will be glad when it happens so I can buy hardware for nothing. Once enough people sell and quit mining then the profits will go back up. It’s just simple math and if you got the money to play the game.

  2. I don't find it very likely that miners would leave ETC basically the minute the rewards are reduced. (The fifthening was 2002-04-25 11:16 UTC, 2miners show the largest hashrate drop between 11:10 and 12:10.)
    However, there is another effect that can explain the drop: the fifthening coincided with an even-numbered epoch change. On an even-numbered epoch change, the DAG size grows. The ETC DAG is currently approaching 3 GB. It will grow beyond 3 GB around June, but GPU miners generally can't use all of the memory on their cards for the DAG, so they tend to be affected a little earlier, depending on operating system, GPU drivers, mining software, and configuration. And this would happen exactly on the epoch change, which fits the timing perfectly.
    So maybe this was just a relatively large group of 3 GB miners reaching their limit.

    Since then, ETC hashrate has ramped back up to more or less the previous value. This also makes sense: miners who couldn't mine anymore may be able to do so again after changing/updating their system/driver/mining software, or, if all else fails, by enabling "zombie mining". This can buy them some more time until they reach a hard limit, and with zombie-mining they can continue even past this, it at the cost of rapidly declining hashrate. (*)
    Given that such a change requires manual intervention, we can expect it to be gradual. And this is exactly what the hashrate shows.

    (*) Once also zombie mining makes no sense anymore, they could consider Ubiq, which, if nothing changes, will reach 3 GB in about ten years from now. Ubiq currently has ~60% of ETC's profitability, according to whattomine.com, which would correspond to about 2 months of zombie-mining.

    (We know all these effects from back when ETC still used Ethash, with a larger DAG, and the DAG grew larger than 4 GB. Then ETC switched to slightly modified ETChash, which reduced the DAG to less than 3 GB, bringing back not only the 4 GB miners, but also giving new life to 3 GB miners.)
    I wouldn't expect any major reactions to the fifthening to show on such a short timescale, if at all. And such effects would be masked by other market movements, so we'll probably never know if and whether they occur 🙂

  3. In reality, most miners that (almost) ROI'd will just keep on expanding up until merge day. Just collecting hardware. No matter what is announced. Worst case, you have a lot of hardware to sell. Best case, the extra hardware can make up for some of the losses.

    Even knowing this will only make GPU mining harder after the merge. People will just look at their own bottom line and make their decisions based on that.

  4. I stick with NH quick miner to watch temp and uses trex for ETH now, after merge. I can easily switch back to 100% NH to let it figure. I hope NH can OC for each algo in the near future

  5. So glad this happened before POS. Bring that hash rate down baby. Makes it easier to mine more ETC. I could care less what the profit is now, I'm in this for the long haul.


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