Best advice
Convert a your coins to BTC that's a future guaranteed compare to other coins like ergo and conflux and Ravencoin, if ETH is no more PoW compatible there will be less profits to make per day, even if all hash power move to other coins there is no guarantee that they will add more value, moreover bear market is bear market.
Topic: Preparing for the future (Read 194 times)
The future of mining in the long term is uncertain when there will be no more eth to mine certainly there will be ergo and raven but how long will they last? and if the cost of energy will go up again? is it worth continuing to mine by earning only a fifth than before?
For me yes.It is always good to mine and get your payments from pools that support paying you directly in Bitcoin like 2miners or Nicehash as in the long run only Bitcoin had the greatest price when the prices of all crypto went up.It is wise to stock as much Bitcoin as possible by mining activities and getting ready for the next bull run,of course if your economic possibilities allow you to do such thing.
The future of mining in the long term is uncertain when there will be no more eth to mine certainly there will be ergo and raven but how long will they last? and if the cost of energy will go up again? is it worth continuing to mine by earning only a fifth than before?
You should be worry, getting 1$ from a card that gives you 5$ before will get to you for sure but the oy thing that can make you keep going on is free electricity and I don't see how that's going to be possible unless you set up a solar mining farm.
Be selective when picking the coins you want to mine and hold, I don't see any better alternative to Ethereum than Ergo, Conflux and Ravencoin but their survival in few more years is unknown, it's still a risky path to take but the choice is yours.
I'm less worried about crypto mining profit presently but I want to know which coins I can mine and hold for 2024-2025, electricity ? Not a problem also I have all the patience to keep mining even if my 12$ per day turned 2$ per day.
$12 per day is 2-6 video cards, I think.There is no information yet when Ethereum mining will end, so keep mining the most profitable coins. But keep in mind that if 90% of video cards are used in Ethereum mining, then the profit may decrease by more than 6 times. In your case, I would also look for a profitable coin in the future, because you only pay for electricity.
1. Mine and hold coins with good utilities.
2. Also don't expect all to survive for long.
3. My advice is watch them very closely as we head into bull market using tracker like blockfolio anything can happen.
4. The best coins aren't proof of work so it's smarter to swap your pow coins for few metaverse projects and smart contract projects.
2. Also don't expect all to survive for long.
3. My advice is watch them very closely as we head into bull market using tracker like blockfolio anything can happen.
4. The best coins aren't proof of work so it's smarter to swap your pow coins for few metaverse projects and smart contract projects.
It depends on what you are using for mining... ASICs, GPUs, CPU?
Obviously with time you will be trying to mine the most profitable coin depending on the tides of time and market, so there is no conclusive answer on the coin you will be mining for the future of 2024-2024 but one thing you should not do is mine at a loss and the sell your coins at very low prices.
The beauty about bull market is that most altcoins tend to rise in price as long as they survive the bear market tide. All you have to do is hold your mined coins.
Obviously with time you will be trying to mine the most profitable coin depending on the tides of time and market, so there is no conclusive answer on the coin you will be mining for the future of 2024-2024 but one thing you should not do is mine at a loss and the sell your coins at very low prices.
The beauty about bull market is that most altcoins tend to rise in price as long as they survive the bear market tide. All you have to do is hold your mined coins.
I'm less worried about crypto mining profit presently but I want to know which coins I can mine and hold for 2024-2025, electricity ? Not a problem also I have all the patience to keep mining even if my 12$ per day turned 2$ per day.
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