News for hackers. Stuff that matters.

A comment on Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half. Parent comment

Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by viraptor on Thursday February 18, 2021 @05:53PM (#26186952)
> they'll migrate the legacy chain to it and proof-of-work on Ethereum will end.

Likely closer to: they'll create a mirror on the new chain and a group of unknown size will keep ETH 1 fork alive.

[ Parent | on HN ]
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by DennisP on Thursday February 18, 2021 @06:18PM (#26187209)
Which is fine. Given the massive community support for ETH2, the legacy chain is likely to have even less impact than ETC.
[ Parent | on HN ]
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by DSingularity on Thursday February 18, 2021 @07:23PM (#26187799)
What will happen once the security guarantees of ETH2 eclipse ETH1?
[ Parent | on HN ]
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by lostmsu on Thursday February 18, 2021 @07:43PM (#26187976)
How would that be possible?
[ Parent | on HN ]
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by boring_twenties on Thursday February 18, 2021 @08:23PM (#26188297)
If no one wants to buy the old ETH, then it won't be profitable to mine, so no one will mine it. Without mining there is no security (as far as the old PoW chain is concerned.)

Kind of like how Ethereum Classic (ETC) is subject to 51% attacks every other week and requires multiple days' worth of confirmations after deposit to any exchange.

[ Parent | on HN ]
Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by DennisP on Friday February 19, 2021 @06:35AM (#26192016)
Meanwhile, the higher the price of the new ETH and the more of it gets staked, the stronger its security.
[ Parent | on HN ]