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Author Topic: eth POS mining end???  (Read 375 times)
adaseb
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June 12, 2021, 03:44:17 AM
Merited by paxmao (2)
 #21

I think that there are no coins for mining for ASICs on the ETHASH algorithm. Ethereum classic will not withstand the addition of new ASICs and the profit will be minimal, and the owners of video cards will need to look for other coins for mining.
But these ASICs continue to be successfully sold, which means that buyers have other information.
ETCHASH seems be not seriously changed ETHASH. I think it will be possible to reconfigure ASICs from ETHASH to ETCHASH.
And lots of ASICs were pre-paid. May be buyers want to return their money back but will get ASICs.

Ethereum(ETH) hashrate 600Tx
Ethereum Classic(ETC) hashrate 28Tx
ASICs will have no choice for mining after changing Ethereum to the POS algorithm.
They definitely won't go mining dubai coin Grin
100 terahesh will come to Ethereum classic and make the life of GPU miners horrible Cry





Didn't ETC change their algo slightly to prevent ASICs. I remember the E3 didn't work, then they released some firmware and it worked again. So maybe the E3 might work but the newer asics probably will run into the same issue. So the ASICs might not be able to switch, only the GPU miners.

However like you said. There won't be enough miner supply to keep everybody happy. The value of ETC is very low compared to ETH and it just can't remain profitable for long.

I remember when ETC switched algos and I tried mining with my old 3GB GPU, it was barely profitable. Then price increased and it became profitable however this is most likely only temporarily.

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June 12, 2021, 04:35:29 AM
Merited by paxmao (2)
 #22

6 cents an mh

so 3000 mh is 180 a day.

for 6-9 months

that would be 32000 to 48000

power,cost,would,be under 10k at 5 cent power.

net 22k to 38k

if you have  paid off gpus.

one asic will earn 30k to 45k and burns only 2k

so nets 28 to 43k

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June 12, 2021, 08:08:27 PM
 #23

Surely. Such mining power will destroy any coin. The own chance - if the price of ETC will grew up in 10 times or higher, but i don`t see any chance for this.
It will not destroy it will like btc unprofitable to mine with gpus. You all know that it will take time to balance between miners. No profit miner stops mining. Im sure china asic miners also will stop as soon as 2.8Ghs=5$ until gets it balance between miners. We all seen in bearmarket asics were doing 1-5$ day and hashrate was low because few people mined and still there was coins making ok. lets see what happen end of this year.
Yes, miners will change coins to maximize profit. For GPU miners this is rather easy but ASIC miners cannot change algo. And there are not so much coins with ETHASH or ETCHASH algos. Of course, miners will stop mining if it will be unprofitable.

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June 13, 2021, 01:31:42 PM
 #24

There is no coin yet that can attract even 20% of the Ethereum hashrate.
The arrival of such a hash rate on RVN or Ethereum classic will reduce the profit to the revenues of 2019, when there were 10 cents of profit from 1 video card per day.
The price of these coins will not rise without the positive dynamics of the cryptocurrency market.

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