Topic: What will current ETH miners mine after ETH goes full POS? (Read 271 times)

Well, because ETH mining became so profitable there are many new miners in the crypto world, you can go check the prices of the rigs and see that how expensive it is, that was something that new people caused because old ones knows what it should worth and how much it should be paid whereas the new ones saw how much they could make from it and bought it from very expensive levels, it went up as much as 4x price of the real retail price.

This means that new people could be left in the dust, they could end up not profiting from it, or they could move some other place and still lose money or they could end up selling their rigs for cheaper as well, I do not know which one will happen but it will certainly not be good when the dust clears. I know wealthy and experienced ones will find a way to make money but the newbies will end up losing for sure.

They will choose coins that they can mine, with the same algorithm of Ethereum. They can mined a single coin or do merge-mining with some penny altcoins and hope that the bull market will help penny altcoins to rise.

No doubt that miners will choose Ethereum Classic as one of their priorities. Before the ETH 2.0, ETC is always an altcoin that miners will choose whenever there is changes in DAG, RAM requirements. They will repeat it after ETH 2.0 but there are other altcoins for them.

I believe even Doge has been profitable for all these years, and the same for Litecoin (and this are all proof of work) but I cannot say if ETH miners can switch over and still make profit. Perhaps even Monero would work for them as I know even browser mining was at some point earning people some monero before.

Can Ethereum Asic miners mine Monero or Dogecoin? Monero’s mining algorithm is Randomx and Dogecoin is merge mined with Litecoin which has the Scrypt mining algorithm.

@Searing. The miners can also refuse to follow consensus and continue to mine the original Ethereum to save themselves, however.

Here is my view on mining these days. ETH or whatever

1 out of 3 below:

1) You sell your miners and buy BTC/ETH or whatever...if the above is true..indeed ASAP! IF this goes through on the 'timeline' mentioned in this thread and

also, BTC/Crypto/ETH goes up in value...the coin you buy with equipment now will IMHO most likely always go up first and equipment follows so why risk it!

2) If you don't sell and mine the stuff..well the above POS nightmare and etc, your miner becomes a doorstop. Then closer it gets to reality the less likely

you can 'convert' this soon-to-be 'boat anchor' into ETH/BTC/Crypto or whatever. Thus IF BTC/ETH/Crypto or whatever, you got for this ETH equipment

doubles say (common in the past) in a couple of years at WORST you'd look like a genius. If not and Crypto dumps you have worse problems and won't sweat this.

3) A 30% correction of ETH/BTC/Crypto or whatever happens and you still have the conversion you mention in this thread happening and you have a nice

a big pile of boat anchors by waiting too long


I recommend as an 'aside' attic mining ..have been selling crap I'd otherwise die with-----out of the attic and converting all postage/eBay fees (match) and the full amount

that shows up on PayPal just to make keeping track of the crypto dust I buy easier. Should have done this years ago.

My advice if you are mining equipment, because you think BTC/ETH/Crypto is going higher..just sell the crap equipment and buy coin...if you do it won't matter

if it goes up in price/sideways or down..if you HODL long enough you always win. Does not work that way last in line HODL'ing ASIC equipment though.

Brad

amount of auction into crypto coin dust...so whatever eBay says the fees are postage and sales tax is (i match) with the actual $$$ I get into BTC/ETH/Crypto or

whatever...it adds a bit to the crypto buy as I go along and sell eBay stuff...but keeping track is easier.

I Shoulda started doing this in 2003...finding out that people pay a lot of $$$$ for some dubious stuff in the attic given to me or on the cheap.

Brad

There's XMR too besides ETC. I think the two could be mine together, I remember there was a thread about this in which someone was mining two coins at the same time.  It depends on which one they will find profitable but I XMR is better and has a better price. Or they could just mine DOGE. I think after months right now Doge will also be valuable.

The miners have invested so much on the Ethereum mining ecosystem already. Why would they support ETH 2.0, the fork that would kill them?

It is a big deal, however. All their hashrate on Ethereum if transferred on Ethereum Classic would increase difficulty and would not be profitable to mine the chain. Miners would have mined Ethereum Classic already if it was profitable.

The reason behind the price is the demand. Most of token transfer need of Ethereum. Our last hope is Ethereum 2.0.Which should use for the transaction. The ethereum support team should have a look on this. Currently the demand of Ethereum had increased. So this chart may had a minor correction.

I have the same opinion as others about ETC. I've seen a few miners that have shared what they're planning to mine and that's ETC once ETH goes POS.
That's for sure. 

AFAIK, ethereum will have a maximum cap value before th complete roll out of ETH 2.0 so it will solve the issue you are talking about but if the cap value far from the total mined coins then it will take time and more chaos into the network.

The majority of miners will always be moving to the cryptonight like monero or dash and betting into the small cap coins that used POW

This time only the small miners of ethereum who can't compete to get a good profit from their mining activities that will be selling their mining rig. It's not caused by the newbie but it must be based on how difficult ethereum to be mined by them. if their mining rig will not be profitable anymore and they will sell it.

I do not think that miners will be going to same place all together, but I do not think that those shitcoins will get much attention neither, we are talking about miners here, they are doing something that costs money, that is why I doubt that they would be willing to spend money on something that doesn't make any money at all. Which means they will pick good coins, even if they are not mining ethereum, or even if they do not make a profit, they will be still putting all their money into something that will be liked and known.

I think they will spread into coins that are all in top 50 if you ask me, ETC could get some of this attention and that will be weird, after all ETC was created because it was a fork of ETH that wanted the old ETH back, and ETC will be miners heaven because it is the old ETH anyway while ETH moves to become something even better.

ETH miners are not the only new people in the mining world. some of the new ones may be wealthy people who have a lot of money and participate in mining. but some are professional miners who have been mining ETH for a long time.
of course, they know, they are not only able to mine ETH. there are other alternative coins they can mine.
if a lot is going to sell be prepared to buy it, who knows you need hardware that may be sold cheap

So, which altcoin can be mined and still profitable these days ?

I think some people will be selling their hardware ( This people is miner newbie iam sure )

It will go to another altcoin of that I'm really sure. Miners won't be selling their stuff. Remember they were making money even when ETH was $80 so for sure it'll make sense to go and find an alt that looks really similar in market value (and trading volume). I cannot see ETH guys reselling all their hardware.

Why do you think so? Do you mean that the miner communities will try to fork ETH instead of choosing ETC to mine. It can be a problem in a few first weeks but long term if ETH 2.0 brings success to fee reductions on the network, no one will care about that miner-community fork. That coin will end as another Ethereum Classic.

It is not a big deal if look at Bitcoin, Bitcoin Cash, Bitcoin SV, not many miners choose to mine Cash or SV and they stay with Bitcoin. Hypes don't last for long time in mining or trading communities. Hashrates fall, price fall for Cash and SV after first several months.

Yes I have seen a video of an influencer which was posted in the forum and it speculated that the miners might begin to transfer their hashrates to Ethereum Classic. However, this should have occured already if that was their real plan.

I speculate that Ethereum miners will continue to mine the old chain after the fork to ETH 2.0 which would cause another issue in the cryptospace.

I mean, that some huge mining farm can target some coin with the lower hashrate, and there is a chance for 51% attack. They can do it multiple times and price of this coin will go to the 0...

Ethereum source code is used to create many shit altcoins. They self call their coins as forks from Ethereum. In fact they are not any valuable or reasonable forks from Ethereum. Their teams copied and used the source code from ETH to steal money from investors.

Those shit coins use the same algorithm as of Ethereum. Miners will switch from Ethereum to those shit coins.
https://whattomine.com/calculators
Type the ethash (algorithm of ETH) into the search box. You will get a grid list of shit coins to mine.

It will be spreading to the all of POW coins that have offered good reward and easy difficulty and i think that the majority of these miners will be moving toward the cryptonight coin.
Those coins will be even more difficult to be mined but i do believe that will not give a significant impact to the price.
You must see the fundamental is the main thing to affect the price of coin and it will not be determined by how difficult such coin to be mined.

As far as I know, it will not go full POS once it launches, no?
for the very first stage there will be a parallel POS and POW, that means miners can still mine it for a while.
afterward they might be able to mine something else like ETC that is in need of miners or other POW projects, we have quite a bit of them.
I do not think they will chose one single project, so that should not be too catastrophic for them.

ethereum classic

There are more then few mineable coins, some more profitable then others, but can you elaborate on how would huge hashrate destroy any of them?

It will go to the last few minable coins, like ETC and so...
This huge hashrate can destroy any of them...

Where do you think all this ETH hash power is going and why? And more importantly, what does that do to the prices of those coins?

I think that this is something we should talk about considering that ETH hashpower is ATH and we are most likely at the end of transition phase soon.