|
Title: ETH 1.0 - 2.0, Mining Viability, Longevity Post by: ShinyGG on January 10, 2021, 11:25:05 AM Hi everyone! Thank you for taking the time to provide insight into this.
I'm fairly new to the mining world and just started out with a small 5 GPU mining rig consisting of 3080s. I mine using NiceHash that mostly chooses the Hashimotto algorithm as most profitable. Currently, each card makes about $8 or £5 a day in profit. It's all very promising and great, but then I became aware of the ETH shift to PoS from PoW, thus making mining on Hashimotto obsolete/less profitable? I am struggling to consolidate what the market or experts say will happen to ethash based algorithms and the profitability of mining on them. The timeline seems to be everything from a few months to at least a year, perhaps a couple until a full switch to ETH 2.0 is completed. Some suggest that ETH 1.0 will live alongside even after the 2.0 launch and the mining will remain viable on 1.0 I am not very knowledgeable in this, so I would be very thankful if someone can provide their insight who has their ear close to the group. Things I am trying to determine are: 1. The longevity of mining on Hashimotto algorithms or any algorithms on the ETH 1.0 network 2. The estimated timeline for a full switch, should PoW become obsolete after the switch 3. The viable alternatives mining outside of the ETH Thank you so much for reading, and thank you for your help! |