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Comment on PC gamers spend 92% of their time on older games, oh and there are apparently 908 million of us now

Bitcoin switched to industrial ASICs a long time ago, and Ethereum has completely moved away from proof-of-work mining in 2022, see: ethereum.org/en/roadmap/merge/

The Merge was executed on September 15, 2022. This completed Ethereum’s transition to proof-of-stake consensus, officially deprecating proof-of-work and reducing energy consumption by ~99.95%.

No one mines with GPUs anymore, at least not for any major blockchain. GPUs are mainly being used with AI now

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partial_accumen@lemmy.world ⁨1⁩ ⁨year⁩ ago

The Merge was executed on September 15, 2022. This completed Ethereum’s transition to proof-of-stake consensus, officially deprecating proof-of-work and reducing energy consumption by ~99.95%.

I don’t follow crypto trends so I hadn’t heard about this either.

I had to look up proof-of-stake, and for Ethereum apparently is required to stake 32 coins to operate a node. Another google search shows me a single Ethereum coin is just north of $2k USD. So someone mining Etherium today needs to have more than $64k if Etherium to even run a node now?!

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- pdqcp@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago
  No, not really, you can start staking with as many as you want, see pooled staking: ethereum.org/en/staking/pools/
  
  Staking pools are a collaborative approach to allow many with smaller amounts of ETH to obtain the 32 ETH required to activate a set of validator keys
  
  You earn rewards proportional to the amount you stake
  
  You only need 32 ETH to stake if you want to solo stake / home stake and you don’t pool resources with anyone else, see ethereum.org/en/staking/solo/
  
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- Croquette@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
  Pay to play baby! Let’s reinvent the banking system by doing the same exact shit.
  
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  - pdqcp@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago
    Not really to be honest, the power is in the decentralization, permissionless and opensource nature of the system. You can’t get that out of the traditional system
    
    Of course not all networks are the same and there are always shit ones out there that compromise on those tenets, but if you do your due dilligence, you will see there is value in some of them
    
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- Bristingr@lemm.ee ⁨1⁩ ⁨year⁩ ago
  It was 4k per coin. Source: me as I cry with my 2 ETH. 😭
  
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buddascrayon@lemmy.world ⁨1⁩ ⁨year⁩ ago
That doesn’t mean that their effect on the GPU market will up and vanish overnight. Market correction doesn’t usually it go down as fast as it goes up.

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