Future of ETH mining

[StormHawk]

I think mining has more profitable days ahead but it all depends on ETH 2.0 being delayed. My bet is it will be postponed, the truth is I'm excited and scared at the same time, I hope GPU mining will still live for many years to come I just can't digest the fact that ETH mining might be no more.

[1714682468]

1714682468

[sp_]

Postponed to 2023. That's what I heard.

[FP91G]

https://bitcointalk.org/index.php?topic=428589.25760
A very important event will be how the testnet works. Like all miners, I want to mine ethereum for as long as possible. In any news channel about mining, news about ETH is published first.

[DevFile90]

Postponed to 2023. That's what I heard.

For real   ? Any proof to support this point? This is why I'm not buying some gtx 1660 super from China at 410$ today, I just needed four pieces but the ETH 2.0 is making me slow down, I already changed my mind but this?.

[Salamande]

Postponed to 2023. That's what I heard.

For real   ? Any proof to support this point? This is why I'm not buying some gtx 1660 super from China at 410$ today, I just needed four pieces but the ETH 2.0 is making me slow down, I already changed my mind but this?.

No point in buying 6gb graphic card now, even if ETH mining stayuntill 2023 , a 6GB card won't be able to mine ETH long enough to ROI by that time.

[swogerino]

Postponed to 2023. That's what I heard.

For real   ? Any proof to support this point? This is why I'm not buying some gtx 1660 super from China at 410$ today, I just needed four pieces but the ETH 2.0 is making me slow down, I already changed my mind but this?.

No point in buying 6gb graphic card now, even if ETH mining stayuntill 2023 , a 6GB card won't be able to mine ETH long enough to ROI by that time.

Maybe but I don't see their price to go down in trend,sure there have been some price improvements in all the GPU market right now but I am not seeing any specific 6 GB cards going down a bit more than others now that the Ethereum may switch to PoS in 2023.That is because probably the 6 GB cards can still mine for a long time ETC,RVN and ERGO which are the next best coins to mine after Ethereum cannot be mined again.

However I think that once Ethereum stops PoW in favor of PoS things will change a LOT in the mining world.

[CryptoATM]

Postponed to 2023. That's what I heard.

For real   ? Any proof to support this point? This is why I'm not buying some gtx 1660 super from China at 410$ today, I just needed four pieces but the ETH 2.0 is making me slow down, I already changed my mind but this?.

No point in buying 6gb graphic card now, even if ETH mining stayuntill 2023 , a 6GB card won't be able to mine ETH long enough to ROI by that time.

Yet some are still using 4GB rx580 to mine Ergo and raven coin even ETC, 6GB DAG will take years probably by 2025, the gtx1660 is also good for conflux and FLUX coin, these cards will always be here as long as PoW algorithm is still alive.

[sp_]

76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8

100MHASH ethash 03-17-2022= around $ 3.30 a day

after ETH goes POS

100MHASH ethash = around $ 0.41 a day


https://hiveon.com/statistics/

[FP91G]

76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8

If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?

[sp_]

Ethereum is generating around $1.02 Billion worth every month in mining revenue. Out of the $12 billion yearly profit we can estimate that the miners have invested 2-3 times that amount in equipment alone.

36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins..

[S3300]

Ethereum is generating around $1.02 Billion worth every month in mining revenue. Out of the $12 billion yearly profit we can estimate that the miners have invested 2-3 times that amount in equipment alone.

36 BUSD - 48 BUSD of investments from companies and individuals will be removed from supporting Ethereum, and move to other coins.

This is why I think that ETH PoS is never going to happen, this will do big damage to ETH rep because it's clear that ETH became a favourite because of it's PoW algorithm, I don't know what buterin is thinking 💭 .

[BioFrog]

I believe that unfortunately the mining of eth will end within the year given the recent tests carried out successfully, however there will always be other valid alternatives in mining even if less profitable such as raven and ergo

[GEMIN_M4]

76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8

If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?

At this point in time I expect 80% of miners to get out of mining since it's no more profitable but I won't do that, I will use my gpus to get some coins for long term and hold, will be a big advantage if difficulty greatly reduce.

[Salamande]

Back in 2017 it was the same scenario. ETH was supposed too go POS in less than a year too. There was lot of post like this one about what mining will be after that and ... here we go again 5 years later.

Maybe this time it will be true, who knows?

Roughly guess, but I discovered a  new fresh coin (not a shitclone copy paste, NEW code) that could be the next good coin to mine and it is Bamboo. Not 100% ready for now (miner doesn't do multi gpus yet, still not on an exchange) but dev is really active. So if ETH mining is gone in the next year, this could be a good mining canditate.

Well see ....

[FP91G]

76% of the mining in the world is in Ethereum according to the hiveos statistics. If Ethereum was moving over to POS overnight, miners will need to move over to the smaller coins and crush the profitabillity. A profit decline of at least 3/4 overnight, but probobly more like 7/8

If all miners switch to other coins, then only miners with free electricity will profit. The rest of the miners' electricity bills will exceed the profit. Have you heard anything about a new coin that will replace Ethereum?

At this point in time I expect 80% of miners to get out of mining since it's no more profitable but I won't do that, I will use my gpus to get some coins for long term and hold, will be a big advantage if difficulty greatly reduce.

It depends on the cost of electricity, because in some cases it is more profitable not to mine, but to buy coins with money to pay for electricity. But the event will be very interesting, because now there are a lot of video cards in mining.

[FirmWars]

Unfortunately people now understand that mining are more profitable long term in bear market I doubt many miners will be a hut down even if coins aren't profitable to mine anymore.

[philipma1957]

ETH may continue well past this summer and into next year, or not.

I don't really know.  I do know a lot of people want mining to continue. AMD + Nvidia for sure.

[swogerino]

ETH may continue well past this summer and into next year, or not.

I don't really know.  I do know a lot of people want mining to continue. AMD + Nvidia for sure.

Nvidia looks like it wants less than AMD to continue since they are the ones who brought up this nasty LHR thing and not AMD.Although in the upcoming series from both providers I know for sure AMD will not have any limitation in place while I have a lot of doubts regarding Nvidia.

I also want to continue mining for sure,now I see that mining ETC with the same hash rate gives me 2.5 USD less per day now that the price of ETC has gone up than mining ETH so as far as I know ETC developers promised to never go PoS anytime soon.Mining will continue,I personally will mine even at a loss and keep the coins if I have the possibility to pay the electricity bills because I believe there is only room for upside potential for crypto in the near and not near future.

[FP91G]

It's time to start voting on the end of ethereum mining.
https://www.zerohedge.com/crypto/ethereum-20-merge-imminent-after-successful-test-will-lay-rest-energy-concerns

[JangoUnchained]

I'm starting to get discount offers from GPU purchase agreement of 10-20 pieces but I don't have enough confidence to proceed because if PoS algorithm happens it will affects everything (PoW).