Rewards are going up : |)

samjankussamjankus Member Posts: 100
edited September 2017 in Mining

"After the Ethereum Dev call yesterday it has been confirmed the release date for Byzantium will be at block 4,370,000 which should be mined on October 17th. They were originally aiming for block 4,350,000 which would have been October 9th however have given them self another week to ensure everything is tested. After the difficulty bomb that went off yesterday, we are going to land at about 29s block times between now and then. After October 17th, we should see our mining rewards improve by approximately 23% from what it is after this latest difficulty bomb adjustment.


" Byzantium will land on block 4,370,000 so we will have approximately 2,380,000 blocks before 3GB cards will no longer mine Ethereum. At 14.1s blocks, it will take ~388 days from October 17th 2017. This will put the end of life date for 3GB cards on Ethereum at November 9th 2018."


  • josh5901josh5901 Member Posts: 38
    I'm glad someone pointed this out. Too many people saying that the opposite would happen. What will EFFECTIVELY occur is we'll see the same rewards/payouts as we did before this latest massive difficulty increase. It'll still be very viable to mine for some time to come. I've heard rumors Q4 2018 they MIGHT go full PoS. But those are rumors and no one has confirmed. I bet there's still 2+ years of mining eth ahead of us, as long as you have 4gb and up cards, that is.
  • JukeboxJukebox Member Posts: 640 ✭✭✭
    Nice news.
    */Me thinking about some new rigs. B)
  • SIRacer09SIRacer09 Member Posts: 246 ✭✭
    Wasn’t there talk of lowering the reward with this release to 3 ETH as well? Was that abandoned?
  • AkromaAkroma Member Posts: 92
    @SIRacer09 hello :)

    yes they will lower the reward from 5 to 3 eth, but also lower the time from 30 to 15ish seconds.
    so the net result is 20ish% better than todays rewards (if they leave 5 eth and lower from 30 to 15 seconds, it would be 100% increased rewards instead of only 20%)
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