Mining Ergo and Ravencoin for 2024

[FirmWars]

Which coin would you rather hold for 2024? Between Ergo, Flux and Ravencoin or all three? Which one do you think it has the potential to increase more in value at that time?

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[wheelz1200]

Which coin would you rather hold for 2024? Between Ergo, Flux and Ravencoin or all three? Which one do you think it has the potential to increase more in value at that time?

This is in the wrong section, this is for mining topics this shoukd be moved to altcoin discussion or speculation. 

[Metroid]

ravecoin follows bitcoin, so little increase over time, ergo will have a huge increase in price starting the next bullrun in 2024, ergo reward will be less and less every 3 months till it hits 3 ergo per block in 2027, right now is at 66 per block.

[VRExpress]

They are all good PoW coins but it will be way easier to buy them when a bear market is here than mining them, Ravencoin can still go down to 0.02$ someday and ergo can go back to 2$ per coin, you need patience unless you already have a mining rig and ETH mining did vanish after June 2022.

[dedizonesv2]

ravecoin follows bitcoin, so little increase over time, ergo will have a huge increase in price starting the next bullrun in 2024, ergo reward will be less and less every 3 months till it hits 3 ergo per block in 2027, right now is at 66 per block.

no ERGO Block is 63 actually

Epoch #3: 68d 18h 42m 43s

[Metroid]

no ERGO Block is 63 actually

Epoch #3: 68d 18h 42m 43s

hehe, so it already started, that fast hehe, you can see profitability already crashing hard hehe with that 5%, imagine next 6 months or so eheh.

https://curiaregiscrypto.medium.com/eip-0027-soft-fork-proposal-187db1163caa

current block "725741"

66 Old 54 New Block Height 699,393
63 Old 51 New Block Height 720,000
60 Old 48 New Block Height 784,000
57 Old 45 New Block Height 849,600

So every 64.8k block, there will be a reduction. If price does not increase then will be tough for miners in few months, less profitability, less people mining it.

[CryptoATM]

no ERGO Block is 63 actually

Epoch #3: 68d 18h 42m 43s

hehe, so it already started, that fast hehe, you can see profitability already crashing hard hehe with that 5%, imagine next 6 months or so eheh.

https://curiaregiscrypto.medium.com/eip-0027-soft-fork-proposal-187db1163caa

current block "725741"

66 Old 54 New Block Height 699,393
63 Old 51 New Block Height 720,000
60 Old 48 New Block Height 784,000
57 Old 45 New Block Height 849,600

So every 64.8k block, there will be a reduction. If price does not increase then will be tough for miners in few months, less profitability, fewer people mining it.

Its exactly what I pray for, the time where no coin is profitable to mine and slowly miners will start leaving the space and selling their rigs but guess what I have no reason to quit, this is the time I want to start mining.

[FP91G]

Ergo miners approve EIP 37
Ergo's miners have approved adjusting its difficulty adjustment algorithm (EIP 37). Consequently, the chain has hard-forked at a block height of 844,673.
https://satoshiscountry.com/ergo-miners-approve-eip-37/
Other than EIP-37, the Ergo community is exploring ways to make ERG mining more friendly. One of those ideas is developing a way to incentivize miners' loyalty to the chain. Miners commit their hashpower to Ergo for n consecutive epochs would receive bonus rewards.

[batsonxl]

Altcoins halving not impacting lik BTC does. I saw many halvings been done before result is miners earn less and more bad price goes down down.but in BTC situation is different whenever btc does halving after some time price goes up.

[swogerino]

I think the best you can do is to mine ETHW if you have cards well over 4 GB in memory as I believe this coin to be of a much more value in USD than it is actually now where it has just started.The difficulty is still relatively low for this coin despite that almost every coin including ETHW is being mined with a loss right now.

For the long term I always suggest this coin as if the developers will be true to their words I think only really good things will come to this coin which for me will be the new de facto mined coin after ETH moved to PoS some weeks earlier.

[grendel25]

Which coin would you rather hold for 2024? Between Ergo, Flux and Ravencoin or all three? Which one do you think it has the potential to increase more in value at that time?

None of the above:

Epic Cash $EPIC

[FP91G]

There are no profitable coins for mining right now. Even on free electricity, mining on video cards brings very little profit and the payback period for equipment is very long. For example, if the power supply breaks down on the mining farm, then it will take enough time to recover the losses due to the profit in mining.

[Plaguedeath]

I don't see any bright future to mine those coins because there's no any improvement and we're suffering a bear market. In bear market it doesn't profitable to mine altcoins, mining Bitcoin is only worth if you're have many ASICs hardware and cheap electricity on your area. Actually it's already too late for me to sell GPUs since the price aren't high like before, so I'd rather wait until bull season will happen and start to mine using my GPUs.

[Duncaniso]

They are all good PoW coins but it will be way easier to buy them when a bear market is here than mining them, Ravencoin can still go down to 0.02$ someday and ergo can go back to 2$ per coin, you need patience unless you already have a mining rig and ETH mining did vanish after June 2022.

You nailed this prediction.

[summer8]

I would rather have Ravencoin

I predict Ergo will be victim to ASIC development ... meaning massive hashrate increase before actual adoption

[FP91G]

5.0 Soft-fork Activation
December 7, 2022
Voting concluded at block 857,087 with more than 90% support. Activation of Node 5.0 upgrade will happen at block height 889,856.
https://kryptocal.com/event/82881/5-0-soft-fork-activation


When asked about what kinds of improvements v.5.0 could provide to the blockchain, Chepurnoy offered the following:

“It depends, some contracts are heavily hit by ahead-of-time costing (the protocol [that is currently used]), and so we can see 10x costing improvement there, others not so.”

Ultimately, the goal of this new hybrid costing system is to increase the efficiency of the blockchain (by improving the number of transactions/block), while also reducing the current costing of smart contracts.
https://ergoplatform.org/en/blog/Ergo-Node-v.5.0-The-Next-Evolution-of-the-Ergo-Platform

[OgNasty]

Ravencoin has always been a bit of a darling to me. I like that it seemingly had Overstock’s support at one point and had paid developers working on it. I’ve never even heard of Ergo, so I assume it’s just another shitcoin with a large advertising budget? If it were me and I had to choose between holding those 2 coins, I would mine a more profitable coin and use them to purchase RVN. Better would be to use a site like NiceHash and stack sats…

[FP91G]

Ravencoin has always been a bit of a darling to me. I like that it seemingly had Overstock’s support at one point and had paid developers working on it. I’ve never even heard of Ergo, so I assume it’s just another shitcoin with a large advertising budget? If it were me and I had to choose between holding those 2 coins, I would mine a more profitable coin and use them to purchase RVN. Better would be to use a site like NiceHash and stack sats…

Do you love hot algorithms?
I have always chosen those coins, the mining of which heats up video cards less and has less electricity consumption. Ergo miners have been mining for more than 3 years and the mining algorithm does not overheat video cards much, but I don’t know which coin is better.

[Grim]

Do you love hot algorithms?
I have always chosen those coins, the mining of which heats up video cards less and has less electricity consumption. Ergo miners have been mining for more than 3 years and the mining algorithm does not overheat video cards much, but I don’t know which coin is better.

Do you like shooting your own leg?
Do you love to compete with "hidden" hardware like fpgas and asics?

In order to achieve an egalitarian algorithm you actually WANT your given silicon to be used to its fullest ...

... that means YES the algorithm needs to use as many transistors and memory as possible ...

... which means YES the chip will heat up ...

... which means ProgPow for now is the ONLY way for gpus to stay relevant in mining ...

... which means GPUs, FPGAs and ASICs would run with very similar efficiencies (=egalitarian algo) ...



A low power "GPU algo" will ALWAYS fall victim to fpgas and asics.

[FP91G]

Do you love hot algorithms?
I have always chosen those coins, the mining of which heats up video cards less and has less electricity consumption. Ergo miners have been mining for more than 3 years and the mining algorithm does not overheat video cards much, but I don’t know which coin is better.

Do you like shooting your own leg?
Do you love to compete with "hidden" hardware like fpgas and asics?

In order to achieve an egalitarian algorithm you actually WANT your given silicon to be used to its fullest ...

... that means YES the algorithm needs to use as many transistors and memory as possible ...

... which means YES the chip will heat up ...

... which means ProgPow for now is the ONLY way for gpus to stay relevant in mining ...

... which means GPUs, FPGAs and ASICs would run with very similar efficiencies (=egalitarian algo) ...



A low power "GPU algo" will ALWAYS fall victim to fpgas and asics.

How many coins can you name on the progpow algorithm?
https://wheretomine.io/algorithms/progpow
This is a very small number of coins. If I have a choice, then I will mine coins with a lower power consumption and a less hot algorithm for my video cards. If there is no choice, then this is another problem, and you will have to spend money on an additional cooling system.

[fmz89]

Which coin would you rather hold for 2024? Between Ergo, Flux and Ravencoin or all three? Which one do you think it has the potential to increase more in value at that time?

I do still remember mining before eth came out, and 2015 bear market mining with cgminer and almost every day pop up altcoin mineable, but only last couple days and turn out not profitable, even some new algos become hot coin only few weeks and die, its hard times but its fun, this forum fill up with exciting guys, now todays like ghost town, i wont be sire with raven, ergo, flux many these fill up by fpga and flooded gpu miner from eth.

[arielbit]

Which coin would you rather hold for 2024? Between Ergo, Flux and Ravencoin or all three? Which one do you think it has the potential to increase more in value at that time?

I do still remember mining before eth came out, and 2015 bear market mining with cgminer and almost every day pop up altcoin mineable, but only last couple days and turn out not profitable, even some new algos become hot coin only few weeks and die, its hard times but its fun, this forum fill up with exciting guys, now todays like ghost town, i wont be sire with raven, ergo, flux many these fill up by fpga and flooded gpu miner from eth.

ghost town needs scavengers. if you know you know hehehe

[Beparanf]

I would say Ravencoin will guarantee that it will run for along time because they already experienced terrible bear market during 2018 yet they are still here and continuously running. Flux is a promising project since it’s still new and has a strong community. Mining this token might give you a jackpot once bull run favored again those hidden gem blockchain project.

In general, gpu mining nowadays is already a gambling since Ethereum is already on PoS which means you will have competing to those miners that supposed to be mining Eth. I believe buying tokens is more safe rather mining it if you are still doesn’t build your mining rig.

[swogerino]

I would say Ravencoin will guarantee that it will run for along time because they already experienced terrible bear market during 2018 yet they are still here and continuously running. Flux is a promising project since it’s still new and has a strong community. Mining this token might give you a jackpot once bull run favored again those hidden gem blockchain project.

In general, gpu mining nowadays is already a gambling since Ethereum is already on PoS which means you will have competing to those miners that supposed to be mining Eth. I believe buying tokens is more safe rather mining it if you are still doesn’t build your mining rig.

I believe that too.It is really a gamble but it is a gamble worth making if you believe that we will have a next bull run.I did such a gamble in 2018-2019 when everybody else lost hope that we would see another recovery and Bitcoin was declared for the 400 time dead.During such time I was mining at a loss with Nicehash,now I am still mining at a loss but trying 2-3 different coins so the gamble is a bit more dangerous than if I would still be mining with Nicehash but now I can afford this.

I can afford this because I made enough money in 2021 from that 2018-2019 mining,so I am hoping for a brilliant 2023 or 2024 or at maximum I know for sure we will be having a brilliant 2025.

[FP91G]

I see that the mining of these two coins is unprofitable on 1000, 2000 and some video cards of the 3000 series. Mining is possible only on free or very cheap electricity. I don't think that miners will use modern expensive graphics cards to mine these coins.

[fmz89]

Last time ergo is nice for amd cards but, after eth pow gone, ergo floded x10 hashrate from miner desperately trying to recoup their investment on gpu side, with the fall of ergo price, began quickly unprofitable even you got free electricity isnt worth it at all

[vectisitch]

Last time ergo is nice for amd cards but, after eth pow gone, ergo floded x10 hashrate from miner desperately trying to recoup their investment on gpu side, with the fall of ergo price, began quickly unprofitable even you got free electricity isnt worth it at all

How can you say it's not worth it even with free electricity? Ergo imo is worth mining even at a loss right now as long as you can hold it for the next big bullrun. Thats the only way to make big money in crypto from now i think. IF you can afford to mine in todays situation then it's worth picking the coins that could fly and just hold them

[FP91G]

Last time ergo is nice for amd cards but, after eth pow gone, ergo floded x10 hashrate from miner desperately trying to recoup their investment on gpu side, with the fall of ergo price, began quickly unprofitable even you got free electricity isnt worth it at all

How can you say it's not worth it even with free electricity? Ergo imo is worth mining even at a loss right now as long as you can hold it for the next big bullrun. Thats the only way to make big money in crypto from now i think. IF you can afford to mine in todays situation then it's worth picking the coins that could fly and just hold them

Why increase the wear and tear of mining equipment and engage in mining at a loss, if now you can buy very cheap coins?
The main problem is that miners have a lot of old nvidia 1000-2000 series equipment and old AMD GPUs, which give little profit. And it's a pity to use the Nvidia 3000 and 4000 series for such tasks.

[FP91G]

Almost a month ago, a fundraiser was announced for listing on the Mex exchange

Summary:
Objective: We need $53,000 worth of ERG (including a 5% fee) to list on MEXC.
Price Drop:Negotiations slashed $7,000 off the listing cost.
Raffle Cost: Each ticket costs 1 ERG at $2.00/ERG.
Rewards: Participants get tokens and NFTs from projects like Spectrum, $COMET, Cyberverse, and more!
https://www.reddit.com/r/ergonauts/comments/1b31das/join_the_ergoraffle_and_help_crowdfund_mexc/

Today the required amount of money was collected by the community