enthusiast29
Skilled
As expected.
Ethereum Merge in mid-September - what's your strategy?
- Thread starter salian
- Start date
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- Tags
- cryptocurrency
Some of them are just burning power not even making pennies
6pack
ex-Mod
yep, the second part of the transition,' Paris upgrade' underway. hopefully, some good news for gamers from this news
enthusiast29
Skilled
ETH mining is dead already and there are no other PoW altcoins which can provide near enough profits to even sustain electricity costs. What more good news are you looking for?
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dd666
Recruit
Crypto to zero, 3090 for 20k
Would like GPU prices fall further with excess stocks being present with AIB and the impending 40XX and 7XXX card launch
enthusiast29
Skilled
Well let me assure you, digital currencies are not going anywhere and as for the latter that may happen someday after a few more years when that card is irrelevant.
Let's be reasonable of our expectations, shall we?
salian
Disciple
While Ethereum was a major PoW chain, there are still a number of coins that can be GPU-mined, including of course Bitcoin Ravencoin and Firo.
However with the current fall in crypto prices and especially if there is a simultaneous rise in energy prices, miners will need to wait and hold until the next bull run to claim high profits. Those who cannot access cheap energy and are crowded out by other miners increasing the difficulty and reducing the reward will exit mining.
Eventually GPU prices will fall but like any market change this is a psychological process and people will try to resist and find alternatives before they cave in and accept the new reality.
Meanwhile PoS Ethereum is not without its difficulties. Just 7 stakers today control over two-thirds of staked Ethereum. The high threshold of funds needed for proof of stake has destroyed the decentralisation so necessary to blockchain security.
A malicious player controlling 66% of staked tokens can introduce whatever transactions they want. So if there is some attack on Ethereum that somehow leverages this consensus mechanism then that event might break PoS ETH as well.
However with the current fall in crypto prices and especially if there is a simultaneous rise in energy prices, miners will need to wait and hold until the next bull run to claim high profits. Those who cannot access cheap energy and are crowded out by other miners increasing the difficulty and reducing the reward will exit mining.
Eventually GPU prices will fall but like any market change this is a psychological process and people will try to resist and find alternatives before they cave in and accept the new reality.
Meanwhile PoS Ethereum is not without its difficulties. Just 7 stakers today control over two-thirds of staked Ethereum. The high threshold of funds needed for proof of stake has destroyed the decentralisation so necessary to blockchain security.
A malicious player controlling 66% of staked tokens can introduce whatever transactions they want. So if there is some attack on Ethereum that somehow leverages this consensus mechanism then that event might break PoS ETH as well.
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enthusiast29
Skilled
Bitcoin cannot be GPU-mined.
salian
Disciple
True. Nicehash shows profitability in BTC for GPU mining so I forgot about that.
https://whattomine.com/gpus shows what can be mined directly on GPUs today.
None of these look profitable to be mined for significant profit. Or am i missing something??
enthusiast29
Skilled
No PoW altcoin is currently profitable to be GPU-mined. They just barely cover electricity costs.None of these look profitable to be mined for significant profit. Or am i missing something??