Bitcoin Forum

Guys, any advice how to my mine with 2.0?

lol use google.

You can´t mine ETH2.0  ::)

Right now - mine as usual. It`s just the start of ETH 2.0, first stage. 1-2 years later it will be stage 1, then stage 1.5, then stage 2. And only at stage 1.5 your reward will be decreased to minimal. Until that - you can mine as now.

Wrong, you can´t mine ETH2.0. You can mine ETH, but ETH2.0 is the staking chain, and on this chain you can´t mine. This point is important, because Eth and ETH2.0 are not the same coins at the beginning and you cannot change ETH2.0 back to ETH.

So let us speak about ETH2.0 in 2 years.

There are 3 ways to gain coins.

1) Proof of Work - This is how Bitcoin works. Miners need to do SHA256 hashing and when a block is found they are given the reward. This requires no investment except for the hardware plus electrical costs.

2) Proof of Stake - This is how ETH 2.0 and other POS coins work - You basically need to hold the underlying coin such as ETH, leave your wallet open to stake and you process transactions using almost no electricity. All you need here is the underlying coin and some basic node or computer to run the wallet.

3) Tokens/ICOs - These you basically need to spend money on to buy. You can't mine them or stake them. Need to buy them and that's all is needed. No hardware or wallet needs to be left open.

ETH 2.0 and ETH 1.0 will unite and become ETH 2.0 at Phase 2, but until this time you mine ETH. And I cant say surely what coin we`ll get from ETH2.0 until we get some coins. We hear about PoS about 2-3 years and i cant say, that i believe that everything would work correct.

yup, the post above me is right.
Currently phase 0 has just started, which in fact means only the start of the beacon chain.
But ETH 2.0 still needs sharding from phase 1 and then in phase 2 all accounts and smart contracts have to be migrated.
As long as the migration is not completed, the PoW chain will remain running. This may take another 1-2 years.

I guess I got the whole 2.0 thing wrong, my thought was once Eth 2.0 got launched there will be no ETH 1.0 anymore but I was wrong, whattomine is still showing Ethereum mining data and miners are still mining Ethereum, I thought the old Eth will seize to exists instantly after the upgrade, some Ethereum miners already sold their rigs because they thought they won't be mining ETH anymore in December, so confused

ETH 1.0 ends at Phase 2. We will wait it at least for 2 years. More problems for miners are reduced commissions for miners and reduce of the block reward. But lets wait. Mine and wait :)

So, all the hype, all the hope was for nothing?

Most commenters on twitter had said when Eth POS is launched in DEC. of 2020 the transaction cost would reduce to next to nothing.

So, we still got at least 2 more yes to go in the hands of ETH network congestion?! What a disappointment!

From a miners point of view its good it takes years.....this is a mining sub forum.
PoS is not good for miners.

Yes, PoS is launched. In ETH 2.0. And mining continuous. In ETH 1.0. Sometimes in far-far-galaxy... ETH 1.0 and ETH 2.0 will unite in ETH 2.0. But before it will come true - we continue mining.