What will you do when you cant mine Eth anymore?

[darkdude]

I know we dont know when Eth 2.0/PoS is coming, but it IS coming at some point.  Curious what my fellow miners will do when they cant mine eth anymore...  I have heard people might mine eother PoW coins like RVN, however profits will be much lower due to the hash from eth will move to rvn to a degree (and the rest of the PoW coins).  you could go ASIC SHA-256 route and taker a crack at BTC, but good luck trying to get your hands on a miner.  There are some new projects like Chia and Helium which look interesting that have a different take on mining.

Perhaps you might take your eth you have and stake it, and if you have less than 32 eth, perhaps you will join a staking pool.

I for one, have not decided other than I know I would like to continue in some capacity with mining.

Thoughts?

[adaseb]

Most likely if it does come, it will be time to turn off the rigs, disassemble them and sell the GPUs on Craigslist. Then maybe perhaps buy some Litecoin or Bitcoin ASICS and mine with those.

Sure there are other coins however there aren’t that many and that is the problem. Many coins are ASIC dominated and many others are unminable. So there is a small batch of coins left, all mid or low cap in value. And if everybody starts to mine those coins the profits will be so low that even with free or cheap electricity it won’t be worth the hassle.

[philipma1957]

I know we dont know when Eth 2.0/PoS is coming, but it IS coming at some point.  Curious what my fellow miners will do when they cant mine eth anymore...  I have heard people might mine eother PoW coins like RVN, however profits will be much lower due to the hash from eth will move to rvn to a degree (and the rest of the PoW coins).  you could go ASIC SHA-256 route and taker a crack at BTC, but good luck trying to get your hands on a miner.  There are some new projects like Chia and Helium which look interesting that have a different take on mining.

Perhaps you might take your eth you have and stake it, and if you have less than 32 eth, perhaps you will join a staking pool.

I for one, have not decided other than I know I would like to continue in some capacity with mining.

Thoughts?

“Dude eth will switch to progpow before it goes to POS”

read that and hope i am correct.

eth can’t possibly work as pos.

So if i am wrong and it does do 2.0 it will be the greatest crash and burn 🔥 item ever invented.

[swogerino]

I think RVN is really cheap in price and we may continue to mine it and hodl it hoping for much better price once a lot of Ethereum hash rate is distributed equally to RVN,ETC and ERGO as the top three that mining people will go after as soon as Ethereum goes PoS but I think until late 2022 or early 2023 this won't happen.

[pieppiep]

Maybe they will mine the other coin which compatible with their hardware and still earning the rewards. No matter what the coin is, if they can still be profitable from mining, they will not stop and search for the other coins. If they can earn big rewards from their hardware and the coin price suddenly increases, they will profit. After all, we do many things in crypto because of wanting to make a profit and if that thing is not profitable anymore, we can use the other way to keep the profit.

[CryptoATM]

I have Vega graphic cards that are so good for ergo mining and I have 3070ti that is good for ravencoin, I will be good if ETH pow is no more but the chances still feels so slim to me cos PoW algorithm is the reason why ETH makes lot of sense since launch apart from smart contract ability.

[perri]

Thoughts?

I have few things on my mind!

• Turn all the GPUs to be fresh money, but I'm not sure for doin' something new.
• Move to other coins might be worth it if most miners decided to stop (related to network hashrate)
• Turn GPUs mining rigs into a brute-force rig.
  If we know how to offer this service, it might be a good chance for ex-miner doing this business.

I'm not good at design, video editing, and such things. Outside my mind.

I don't decide yet what to do next if it happens 

[batsonxl]

Dear miners calm down dont worry. we talked it many times GPU mining will not die any time sooner. There so big money playing.

[perri]

Dear miners calm down dont worry. we talked it many times GPU mining will not die any time sooner. There so big money playing.

I hope so! fingers crossed

[FP91G]

Thoughts?

As soon as mining is not profitable, I will start selling old video cards and buying new ones at a good price.
In the meantime, Ethereum can be mined, then I will do it.
Next month there will be a new piece of news about the Ethereum 2.0 testnet.
Maybe the change of the algorithm will be postponed for some time.

[flip4flop]

With the proposal to push the difficulty bomb to May of 2022 I am not worried about this happening till Q2/Q3 next year.  They had some serious bugs in the test net and this is not ready for prime time. I expect to see this pushed back more and will continue to mine away until then.

[XUR_TIP]

With the proposal to push the difficulty bomb to May of 2022 I am not worried about this happening till Q2/Q3 next year.  They had some serious bugs in the test net and this is not ready for prime time. I expect to see this pushed back more and will continue to mine away until then.

If this is true then there is still time to keep buying GPUs and mining as well, ETH 2.0 will come with many bugs that will definitely cause some delays, this isn't a new thing when it comes to ETH team and Devs, delays and delays until ETH PoS looks so far away yet again

[perri]

If this is true then there is still time to keep buying GPUs and mining as well

I might agree with keeping on mining for the rest of the time, but no idea with keep buying GPUs.

[Temido2222]

ETH 2.0 has been pushed back for so long that it's safe to assume that it will never happen and when it does happen, make the call to sell your cards

[adaseb]

I think if ETH 2.0 is officially confirmed and an estimated timeframe is given, you will see the hashrate slowly decrease as it comes closer and closer to the date. It will be mining who will be liquidating their farms to sell because the supply rises of the GPUs. This is only my theory. Might not be the case.

However whenever there was an BTC halving we saw that the hashrate barely changed. Reason why is because miners prepared for it months in advance. They sold off their old inefficient gear and upgraded to new gear. Hence why I think the same will happen with ETH.

[alucard20724]

i will buy people's old gpu at a deep discount and mine something else that isn't eth. 

[Cryptoababe]

If i can't mine eth.. I will mine other coins.
Normally, as  eth starts burning, even people will prefer to buy than to mine.

[perri]

i will buy people's old gpu at a deep discount and mine something else that isn't eth. 

Sound like a melodious song, buy me some!
Any thoughts about this project, by the way? GBYTE [GBX]
ANN thread: https://bitcointalk.org/index.php?topic=2442185.0

Is someone here has tried to mine this?

[FP91G]

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

[perri]

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

I get some RX series at the time at a pretty good price. RX series seems the miners favorite from 2015 to 2017