Topic: Is it reasonable to start a new GPU mining farm right when eth 2.0 is so close? (Read 476 times)

I still think they will switch to progpow vs doing pos.

They can

1) stick with this current algo means they are voting for asics and companies like bitmain,innosilicon,linzhi

2) switch to progpow alog it means they are voting for amd ,nvidia ,intel.

3) switch to piece of shit = POS which screws bitmain,innosilicon,linzhi,amd,nvidia , intel.


I am guessing he switches from 1 to 2 not from 1 to 3.

What ETH 2.0? The earlier the better mate many people refuse to join the train years back simply because people keep talking about upcoming Ethereum PoS and oh ETH mining is coming to an end, none of that happen till this day

I know that this has been asked a billion times already, and I know that it has been talked about a billion times as well, but nobody seems to have the right answer. Everyone keeps saying that oh we may move to ravencoin or etc in order to keep going, but looking at their hashrate it is not even close, the hashrate at ethereum ALL will be gone with it, and it will be going to somewhere, and if you do it on the other two, you need the prices to go up insanely high to make it profitable.

So once again I wanted to ask this, if ravencoin and etc doesn't profit the miners, and if 2.0 comes and there is no mining ethereum, then what will the miners do? I really want to start a mining rig and then keep using it is profits to keep growing it, I have sufficient income to sustain myself so only thing I am expecting from my rig is to help me earn enough money to get one more and then one more and grow it.

However this is a long term idea and with 2.0 coming up in a year or so, I am not sure if it really worths it. Even the R&D guy on ETH development team said that it will be pretty hard to make profit after we hit 2022, and that scares me the most. What do you guys think? Should I go for it? It is going to be tough if I do it, but maybe it may work out? Or maybe it will suck after 2.0 and we will all lose money? What is your opinion?

Got a link to an article about it?

Anyone catch the news about 485000 RX 470 8GB gpu's being returned to a mining company after being confiscated in China when their bans went into effect?

All those gpu's for just one company affiliate in China to mine Ethereum coming back online when they setup a new location.

That's a 5-10% increase in hashing power from what the current one is.

We are going only uphill now regarding difficulty and hash rate because many new people will join.Even if such number of cards would not exist at all or would not be returned back to where they belong the hash rate will only go up as long as the price of Ethereum stays above 3000 dollars as it is right now the most profitable coin to mine and as such it attracts many new persons.We are already near the all time high at 8.42 P regarding the difficulty of the Ethereum network yet I see my mining rewards not going down a lot,before I was doing 22-24 USD daily now I am doing 21 USD daily so it still remains extremely profitable to mine Ethereum.

Anyone catch the news about 485000 RX 470 8GB gpu's being returned to a mining company after being confiscated in China when their bans went into effect?

All those gpu's for just one company affiliate in China to mine Ethereum coming back online when they setup a new location.

That's a 5-10% increase in hashing power from what the current one is.

Seems a lot of people here aren’t aware of what exactly “difficulty” is.

Difficulty is something Satoshi introduced to keep the daily reward of BTC fixed. So if more miners joined the network the difficulty would go up and it would be equally more difficult to find a block against all the other miners.

Think of a pie. If there is 1 person who wants to eat the pie, he gets the entire thing. If 2 people want the pie then it gets divided exactly in half. If 100 people want the pie then each person gets a very tiny slice.

POW is the same. So sure they will be coins to mine. However if everyone switches to these low cap coins then there will be almost no profit to go around.

The PoW algorithm will not disappear, but there are currently no coins that can provide a good profit for the more than 10 million GPUs that mine Ethereum.
I do not know of a coin that can replace Ethereum.
Therefore, either the sale of video cards after mining will begin soon, or the price of other coins will increase greatly, which will stop the sale.

That is if PoW algorithm is a goner for real, I don't believe that PoW algorithm is going away any time soon, they are just causing panic unnecessarily it's been since 2016 that ETH PoS is coming 😅😅

Node or masternode, in general, operates like a miner but instead of using hash power to find a block, node using an amount of coin it holds as the power to validate a block. Think both PoW and PoS are nearly the same but one using GPU's hash speed while the other using its own currency (ETH in this case) to stake. Spec to running a masternode usually don't require much.
I think for real, this time, ETH 2.0 is very close. To start a new GPU farm, mining ETH right now would be very risky.

I've been trying to figure this out but I couldn't find the perfect answer, how can one make some money running node? What and what will someone have to get to set up a node? How is this better than mining

Why risk ?
Its clear that you are late to the party.
Its clear also that when ETH will go POS most of the miners will stop.
And plenty of cards will be sold as second hands.

Is much easier and safer  to purchase 16 eth and run a node.