ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed

[WellShyte]

So here I am, planning my new gpu mining rig, when I stumble upon this ETH switching to PoS news, and it's looking terrible for gpu mining. So I open the forums expecting a wide spread panic, but there are even now topics on front page about it. On other topics, hero members are expressing their belief that "gpu-mining will flourish in 2018". A reputable cloud mining sites are offering ETH mining contracts and state that "Should Ethereum (“ETH”) switch to proof-of-stake before the end of the term, we will use the leased hardware on a best-effort basis to mine the most profitable coin with that hardware for you". "Best-effort" being the keyword since after ETH switches to PoS, it will result in difficulties of all the altcoins going through the roof.

So what the hell is going on? Did everyone take the forget pill? How is everyone so oblivious?

Here are the hard facts:

1. ETH will switch to PoS soon
2. ETH network hashrate is many times higher than all other gpu-minable coins combined
3. After ETH completes switch to PoS, all of this hashrate will (try to) migrate to other gpu-minable coins
4. Difficulty of those coins will skyrocket, rendering gpu-mining obsolete or marginal

[spiftheninja]

There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

[Marvell2]

There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

BTG

[philipma1957]

POS= piece of shit

No pos coin does well.

Just put your money in US bond.

ETH SWITCHING will kill the coin.  They will drag it out longer and xmr  zec and btg will take over and replace it and I used and a lot in this sentence 

[Marvell2]

POS= piece of shit

No pos coin does well.

Just put your money in US bond.

ETH SWITCHING will kill the coin.  They will drag it out longer and xmr  zec and btg will take over and replace it and I used and a lot in this sentence 

i AGREE they already lost alot of hash rate and momentum with thier last fork/payout reduction  .. if you notice the ETH hashrate has actually gone down  the last few months bascially flat

they go POS they will probbaly die IMO too

[alisafidel58]

This will surely kill the coin if they switch to PoS what are the devs planning to the coin, all PoS coins are shit and useless.
A lot of people dump ETH and will lead to the coins end in the market.

[szafa]

I dont care i am not mining eth.

[WellShyte]

There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

They won't be profitable any longer after the enormous gpu mining power jumps from ETH to other coins. That will create a massive explosion in difficulties for all coins. Thats the main point here.

I still feel like we are not on the page here, guys. It's not about the fate of ETH, it's about mining power and difficulty of all altcoins.

[WellShyte]

I dont care i am not mining eth.

From what I understand, end of ETH mining will be end of mining all coins. See the facts in the first post. I don't understand how everybody won't arrive to the same conclusion. Am I missing something important here?

[adaseb]

They said back in January 2016 that "POS" is coming soon.

I am still waiting...

[UnknownBTC]

There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

They won't be profitable any longer after the enormous gpu mining power jumps from ETH to other coins. That will create a massive explosion in difficulties for all coins. Thats the main point here.

I still feel like we are not on the page here, guys. It's not about the fate of ETH, it's about mining power and difficulty of all altcoins.

It's also gonna loss its value and it is gonna go to the other alts so the other alts are gonna pump so you better are buying altcoins than mining equipment

[Marvell2]

There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

They won't be profitable any longer after the enormous gpu mining power jumps from ETH to other coins. That will create a massive explosion in difficulties for all coins. Thats the main point here.

I still feel like we are not on the page here, guys. It's not about the fate of ETH, it's about mining power and difficulty of all altcoins.

It's also gonna loss its value and it is gonna go to the other alts so the other alts are gonna pump so you better are buying altcoins than mining equipment

yeah these scared lemmings make me laugh, crypo and altcoins are still in infant stages, you remove eth and btc and we have only around 60 billion in market cap or less, thats pocket change, tons of coins are due for huge pumps in the next few years even if eth fails

[WellShyte]

yeah these scared lemmings make me laugh, crypo and altcoins are still in infant stages, you remove eth and btc and we have only around 60 billion in market cap or less, thats pocket change, tons of coins are due for huge pumps in the next few years even if eth fails

Wow, people just keep posting irrelevant replies. Big market cap and bright future for altcoins, thats wonderful. But will it ease your pain when ETH miners migrate their HUGE hashpower to your precious infant coins and their difficulty goes up tenfold? The price increase will take years to compensate such difficulty hike. And until then you can use your rigs as cupholders.

Yours Sincirely,
Scared Lemming

[leemaster]

GPU mining will not die , as people wrote , there will always be coins to mine.

[WellShyte]

GPU mining will not die , as people wrote , there will always be coins to mine.

Ok, I'm done here...

[adaseb]

Its a risk like everything else in life.

People were saying since 2011 that mining will no longer be profitable.

[sirquest007]

POS= piece of shit

No pos coin does well.

Just put your money in US bond.

ETH SWITCHING will kill the coin.  They will drag it out longer and xmr  zec and btg will take over and replace it and I used and a lot in this sentence 

That's why I now mine MNX :-)
Try https://mnx.optiminer.eu

And it's like ETH profits (may/June period) all back again!

More info here https://bitcointalk.org/index.php?topic=2425960.0

[minerlai]

There is always something profitable to mine. BTG is a good contender to ETH mining if it takes off.

[Marvell2]

yeah these scared lemmings make me laugh, crypo and altcoins are still in infant stages, you remove eth and btc and we have only around 60 billion in market cap or less, thats pocket change, tons of coins are due for huge pumps in the next few years even if eth fails

Wow, people just keep posting irrelevant replies. Big market cap and bright future for altcoins, thats wonderful. But will it ease your pain when ETH miners migrate their HUGE hashpower to your precious infant coins and their difficulty goes up tenfold? The price increase will take years to compensate such difficulty hike. And until then you can use your rigs as cupholders.

Yours Sincirely,
Scared Lemming

be scared then an quit , gpu mining is going NOWHERE in fact its making an even bigger com3back next year
its harder to centralize than bitcoin , x11 and scrypt so it will only get bigger as new projects are developed when eth goes away.

my rigs are 100 percent paid off from the early eth pump and even new rigs pay for themselvs in six months , heck a year even im fine with, name any other investment that can fully capitalize itself so fast and still be only a year into a 4 year shelf life.

L3 D3 and S9s with be space heaters in four years while gpus will keep on keeping on

[Marvell2]

There is always something profitable to mine. BTG is a good contender to ETH mining if it takes off.

^
this

Im stacking up on btg while the diff is still relatively low, when eth goes, and more hash power comes prices will go up
its simple supply and demand, supply will dry up so less dumping more value econ 101