3 ms·
> working class — a group that does the work the community needs to operate it. It would be more correct to call miners a Merchant Class. They exploit capital
by teruakohatu 5y ago
> working class — a group that does the work the community needs to operate it.
It would be more correct to call miners a Merchant Class. They exploit capital to make profit. Like merchants of old, they take risks that regulations (real-world and the "ruling class") won't impede profit.
Hardware gets outdated quickly as mining difficulty rises, so a timely exit is not difficult - wait until cards die, or offload them ebay.
> As a Bitcoiner I find these actions intolerable and unacceptable
Bitcoin has also forked, many times. Bitcoin Gold for example restored the ability to mine with GPUs. The "ruling class" decided that unless you had access to custom hardware, you could not be part of the "working class".
- Tenoke 5y ago>Hardware gets outdated quickly as mining difficulty rises, People can and still do mine Ethereum with the cards they did 5 years ago, and the difficulty is irrelevant to whether your hardware is outdated or not.
- Tepix 5y agoIf you run your mining rig in the Ukraine with stolen electric power, yes you can do that.
- Tenoke 5y agoAccording to the nicehash calculator (which is fairly accurate) even with the really expensive electricity (0.34euro/kwh) in Germany you'll net 1.31 euro a day with a 1080 (released May 2016). https://www.nicehash.com/profitability-calculator/nvidia-gtx-1080 https://www.nicehash.com/profitability-calculator/nvidia-gtx...
- javert 5y ago> Bitcoin has also forked, many times. This is a false comparison. The bitcoin blockchain maintains the original monetary policy of bitcoin, which is effectively set in stone. That is not true of Ethereum, and that is the purported problem with Ethereum.