Hi everyone! Thank you for taking the time to provide insight into this.
I'm fairly new to the mining world and just started out with a small 5 GPU mining rig consisting of 3080s. I mine using NiceHash that mostly chooses the Hashimotto algorithm as most profitable. Currently, each card makes about $8 or £5 a day in profit. It's all very promising and great, but then I became aware of the ETH shift to PoS from PoW, thus making mining on Hashimotto obsolete/less profitable?
I am struggling to consolidate what the market or experts say will happen to ethash based algorithms and the profitability of mining on them. The timeline seems to be everything from a few months to at least a year, perhaps a couple until a full switch to ETH 2.0 is completed. Some suggest that ETH 1.0 will live alongside even after the 2.0 launch and the mining will remain viable on 1.0
I am not very knowledgeable in this, so I would be very thankful if someone can provide their insight who has their ear close to the group. Things I am trying to determine are:
1. The longevity of mining on Hashimotto algorithms or any algorithms on the ETH 1.0 network
2. The estimated timeline for a full switch, should PoW become obsolete after the switch
3. The viable alternatives mining outside of the ETH
Thank you so much for reading, and thank you for your help!
Topic: ETH 1.0 - 2.0, Mining Viability, Longevity (Read 106 times)
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