What will current ETH miners mine after ETH goes full POS?

[Searing]

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The miners have invested so much on the Ethereum mining ecosystem already. Why would they support ETH 2.0, the fork that would kill them?

It is a big deal, however. All their hashrate on Ethereum if transferred on Ethereum Classic would increase difficulty and would not be profitable to mine the chain. Miners would have mined Ethereum Classic already if it was profitable.

it's like the end of the ethereum miners.
Maybe that's enough for ethereum mining when ethereum 2.0 is fully implemented.
Ethereum miners have to switch to other crypto assets. if that's possible is classic ethereum. then there must be an increase in their market. but for now, in my opinion, ethereum classic is still not profitable for mining.

Here is my view on mining these days. ETH or whatever

1 out of 3 below:

1) You sell your miners and buy BTC/ETH or whatever...if the above is true..indeed ASAP! IF this goes through on the 'timeline' mentioned in this thread and

also, BTC/Crypto/ETH goes up in value...the coin you buy with equipment now will IMHO most likely always go up first and equipment follows so why risk it!

2) If you don't sell and mine the stuff..well the above POS nightmare and etc, your miner becomes a doorstop. Then closer it gets to reality the less likely

you can 'convert' this soon-to-be 'boat anchor' into ETH/BTC/Crypto or whatever. Thus IF BTC/ETH/Crypto or whatever, you got for this ETH equipment

doubles say (common in the past) in a couple of years at WORST you'd look like a genius. If not and Crypto dumps you have worse problems and won't sweat this.

3) A 30% correction of ETH/BTC/Crypto or whatever happens and you still have the conversion you mention in this thread happening and you have a nice

a big pile of boat anchors by waiting too long


I recommend as an 'aside' attic mining ..have been selling crap I'd otherwise die with-----out of the attic and converting all postage/eBay fees (match) and the full amount

that shows up on PayPal just to make keeping track of the crypto dust I buy easier. Should have done this years ago.

My advice if you are mining equipment, because you think BTC/ETH/Crypto is going higher..just sell the crap equipment and buy coin...if you do it won't matter

if it goes up in price/sideways or down..if you HODL long enough you always win. Does not work that way last in line HODL'ing ASIC equipment though.

Brad

amount of auction into crypto coin dust...so whatever eBay says the fees are postage and sales tax is (i match) with the actual $$$ I get into BTC/ETH/Crypto or

whatever...it adds a bit to the crypto buy as I go along and sell eBay stuff...but keeping track is easier.

I Shoulda started doing this in 2003...finding out that people pay a lot of $$$$ for some dubious stuff in the attic given to me or on the cheap.

Brad

[bbc.reporter]

There's XMR too besides ETC. I think the two could be mine together, I remember there was a thread about this in which someone was mining two coins at the same time.  It depends on which one they will find profitable but I XMR is better and has a better price. Or they could just mine DOGE. I think after months right now Doge will also be valuable.

Can Ethereum Asic miners mine Monero or Dogecoin? Monero’s mining algorithm is Randomx and Dogecoin is merge mined with Litecoin which has the Scrypt mining algorithm.

@Searing. The miners can also refuse to follow consensus and continue to mine the original Ethereum to save themselves, however.

[slaman29]

It will go to another altcoin of that I'm really sure. Miners won't be selling their stuff. Remember they were making money even when ETH was $80 so for sure it'll make sense to go and find an alt that looks really similar in market value (and trading volume).

So, which altcoin can be mined and still profitable these days ?

I cannot see ETH guys reselling all their hardware.

I think some people will be selling their hardware ( This people is miner newbie iam sure )

I believe even Doge has been profitable for all these years, and the same for Litecoin (and this are all proof of work) but I cannot say if ETH miners can switch over and still make profit. Perhaps even Monero would work for them as I know even browser mining was at some point earning people some monero before.

[OcTradism]

I do not think that miners will be going to same place all together, but I do not think that those shitcoins will get much attention neither, we are talking about miners here, they are doing something that costs money, that is why I doubt that they would be willing to spend money on something that doesn't make any money at all. Which means they will pick good coins, even if they are not mining ethereum, or even if they do not make a profit, they will be still putting all their money into something that will be liked and known.

They will choose coins that they can mine, with the same algorithm of Ethereum. They can mined a single coin or do merge-mining with some penny altcoins and hope that the bull market will help penny altcoins to rise.

I think they will spread into coins that are all in top 50 if you ask me, ETC could get some of this attention and that will be weird, after all ETC was created because it was a fork of ETH that wanted the old ETH back, and ETC will be miners heaven because it is the old ETH anyway while ETH moves to become something even better.

No doubt that miners will choose Ethereum Classic as one of their priorities. Before the ETH 2.0, ETC is always an altcoin that miners will choose whenever there is changes in DAG, RAM requirements. They will repeat it after ETH 2.0 but there are other altcoins for them.

[tygeade]

ETH miners are not the only new people in the mining world. some of the new ones may be wealthy people who have a lot of money and participate in mining. but some are professional miners who have been mining ETH for a long time.
of course, they know, they are not only able to mine ETH. there are other alternative coins they can mine.
if a lot is going to sell be prepared to buy it, who knows you need hardware that may be sold cheap

Well, because ETH mining became so profitable there are many new miners in the crypto world, you can go check the prices of the rigs and see that how expensive it is, that was something that new people caused because old ones knows what it should worth and how much it should be paid whereas the new ones saw how much they could make from it and bought it from very expensive levels, it went up as much as 4x price of the real retail price.

This means that new people could be left in the dust, they could end up not profiting from it, or they could move some other place and still lose money or they could end up selling their rigs for cheaper as well, I do not know which one will happen but it will certainly not be good when the dust clears. I know wealthy and experienced ones will find a way to make money but the newbies will end up losing for sure.