The fear of building new rig | Bitcointalksearch.org

sxemini

member

Activity: 1558

Merit: 69

Quote from: 7deadlyBTCIN on February 20, 2022, 01:58:23 AM

Can other altcoins handle miners hash rates once ETH is out of the picture in June? This is what's still keeping me away from building some new mining rigs presently, what do you think will happen?

Why fear? The good thing with GPU mining is - you can mine many other currency - sure the profitability of every other coin will drop if ETH go to PoS (maybe in 2023 but not this year, Vitalik will test his PoS on Doge first Cheesy

) - but it will raise again after a certain time - same things happen after Litecoin mining was over for GPU´s or BTC mining.

adaseb

legendary

Activity: 3808

Merit: 1723

Yeah I had this same fear in 2016 because in June 2016 they were suppose to transition to POS. Missed out buying GPUs on the cheap and regretted it. Since it’s almost 6 years and they are still on POW.

Your bigger worry now should be the high difficulty and borderline bear market territory that we might enter. Seems like the bubble about to burst on many global markets due to inflation and fed rate fears and cryptos might follow.

rdluffy

legendary

Activity: 2450

Merit: 1472

I always tell people to study, research and make a plan to mine, everyone have different approach to mining, some have solar energy, some have cheap electricity, good sources to buy cards etc

But the chances of ETH becoming POS in June is real, even if I'm in doubt about the date, I think end of the year or beginning of 2023 is more plausible, and you have to consider all these points
Buying cards now with prices above MSRP is risky

How much is your electricty rate?
Maybe you have dirty cheap electricity costs and you can survive a long time in profits...

FP91G

legendary

Activity: 1834

Merit: 1136

Quote from: 7deadlyBTCIN on February 20, 2022, 01:58:23 AM

Can other altcoins handle miners hash rates once ETH is out of the picture in June? This is what's still keeping me away from building some new mining rigs presently, what do you think will happen?

If you are sure that Ethereum mining will end in June, then save money to buy the mining farm from the miners for less. If more than 90% of video cards are mining Ethereum, and there are no new coins, then there will be a big sale in the mining equipment market.

HagssFIN

legendary

Activity: 2506

Merit: 1714

Electrical engineer. Mining since 2014.

"FEAR OF THE RIG. FEAR OF THE RIG. THERE'S A CONSTANT FEAR THAT BEAR MARKET MIGHT BE THERE."

JangoUnchained

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Activity: 185

Merit: 14

If you aren't sure then don't go against your mind, just hold on and wait till June it's possible that eth team will postpone the update again.

7deadlyBTCIN

member

Activity: 120

Merit: 15

Can other altcoins handle miners hash rates once ETH is out of the picture in June? This is what's still keeping me away from building some new mining rigs presently, what do you think will happen?

Topic: The fear of building new rig (Read 131 times)