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Ethereum is dead, bring on Conflux?

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stompah

Deep Pain Senior Member
Joined
Apr 16, 2001
Looks like in a few months mining Ethereum will not be worth it. Is now the time to forget about stacking fractions of ETH and start mining whole Conflux coins?

I've been mining Conflux on my 3060 for a little while now. Starting to think I may shift everything over to Conflux. Getting ahead of the curve. Gambling that Conflux will jump once people start to shift their GPU miners to it.

From my calculations I would be mining for 67% of the cash value had I continued to mine ETH.
 
From my calculations I would be mining for 67% of the cash value had I continued to mine ETH.


When ETH goes to PoS vs PoW, maybe? I don't know enough about it yet, still learning. But what do you mean by the above statement? I'm still mining ETH for the moment, though I'm so new at this I have next to nothing.
 
The above statement means if I have one card that mines $100 worth of ETH a month if I switched it over to mining Conflux I would be making approximately $67 a month.

EIP1559 is changing ETH gas. Essentially how us miners get paid. They are changing the fee structure and burning off part of the fee. So if someone moves ETH and they would pay 0.0030ETH. Now part of that 0.0030ETH will get burned off. Let's say 0.002ETH to the miner and 0.001ETH is lost permanently.

There is more to it but that's the simplest explanation I have for now. I am not well versed in the intricacies of EIP 1559. Maybe ZL1 can break it down better.


I am a step ahead of you in learning this. And there are A LOT of steps ahead of us.
 
I understand some of that, I've been researching the upcoming changes, but I don't know yet how drastic it is going to be and how SOON. I just wondered what made you decided to switch to Conflux vs some other coins, and why not mine ETH as much as possible until the changeover? Unless you think Conflux has a sky-is-the-limit ceiling whereas ETH is already in its endgame?
 
CFX = Conflux

I've been researching the upcoming changes, but I don't know yet how drastic it is going to be and how SOON.
Sooner than I had expected. Not sure how drastic it will be yet.

I just wondered what made you decided to switch to Conflux vs some other coins
I got a 3060 which cannot mine ETH at full power (at the time the driver that allows full ETH mining was not mistakenly released.) Next best algorithm to mine is the Octopus Algorithm (CFX uses Octopus.) On whattomine.com CFX was the most profitable Octopus based coin to mine.

why not mine ETH as much as possible until the changeover
I am not fully there yet. Just have two cards mining CFX ATM.

Unless you think Conflux has a sky-is-the-limit ceiling whereas ETH is already in its endgame?
I am sure ETH will increase in value steadily. It may have a dip here and there as it changes.

We are currently mining fractions of an ETH per day/week/month. Whereas CFX I am mining multiple coins per day. If miners realize that future ETH mining isn't the most optimal return they will jump to the next best coin to mine. Currently that is CFX. I am hoping once miners switch to CFX the value increases. Currently it is at $1.01, If it gains traction maybe it jumps. How high? It has gone up about ten fold in the past year. Maybe it does that again and my $1.01 turns into $10.10. But by then I may be holding onto thousands of CFX.

I am thinking at the very least to keep a card mining ETH to pay off my electricity bill. This way I am gambling with only the money I spent on the cards which I have not already ROI'd mining ETH.
 
dont panic :)) in july it will drop a bit, but still be very worth it, esp since price will most likely adjust up
now next year when they go full POS ... then its rvn and others time
 
CFX is $1.31 this morning.

nice but lets see how it does long, the whole reason why eth is no1 for mining is because its consistently good .. the only true competitor used to be etc before they allowed 3gb cards and difficulty to price ratio changed dramatically :/
 
It's at $1.50 now.

I get the long haul perspective. I am looking at it from the mine and hold and the mine and sell point of views.
 
It's at $1.50 now.

I get the long haul perspective. I am looking at it from the mine and hold and the mine and sell point of views.

tis possible, Im not denying, Im just saying its unproven yet
 
I'm semi skeptical myself. Hence the thread.

Last night I switched my 3080 over to CFX too.
 
3080 is back to ETH. Conflux at $1.28.

My thought process is that Conflux at $1 is more likely to go to $10 than ETH at $1,600 will go to $16,000.

Still torn on which way to point my miners. Safe bet with ETH or speculate with CFX?

My current trend is to mine ETH, cash out and then spend the money. Sometimes it is spent on mining equipment, sometimes on toys of some sort. With CFX my thought is to hold.
 
3080 is back to ETH. Conflux at $1.28.

My thought process is that Conflux at $1 is more likely to go to $10 than ETH at $1,600 will go to $16,000.

Still torn on which way to point my miners. Safe bet with ETH or speculate with CFX?

My current trend is to mine ETH, cash out and then spend the money. Sometimes it is spent on mining equipment, sometimes on toys of some sort. With CFX my thought is to hold.

the part about the price you got right, IMO ETH is not going to 10k let alone 16k this cycle, Im guessing maybe 3, max 5 if all keeps up and we get eth2.0 before the end of the bull cycle
but I dont know conflux well enough to speculate on its price

if you like the project mine a bit, but dont go full, thats all I can say
 
I'm in the air about how much Mh/s to devote to mining CFX. Just going to switch back and forth for now.
 
I read today (on Reddit) that Conflux is governed by the Chinese government and that they are pre-mining it. Can anyone confirm this? Seems real shaddy.
 
I read today (on Reddit) that Conflux is governed by the Chinese government and that they are pre-mining it. Can anyone confirm this? Seems real shaddy.

pretty much, chinese yes, state "backed" yes ... dunno about the premine, but you never know with state "backed" stuff
 
Ok thanks. I'll probably just end up mining whatever is most profitable anyhow.

haha, you capitalist you :D


but sure, the risk is more about keeping it, its actually with most minables, was so since the start, key was always to move to btc and keep it safe
for ex I made a killing on maxcoin, wth is it now ? who knows .. sadly so are my gains from it :D but thats a diff story, maxcoin unfortunately was only tradeable on now defunct mcxnow exchange, run by a great rugpuller who kinda screwed his users at a point .. I should of known better lol
 
Oh man, maxcoin, that brings back memories of about 8 280x/290/290x going hard at that. And vertcoin, myriad coin, ultra coin... dashcoin.... And so forth

 
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