If Ethereum 2.0 upgraded will moves from PoW to PoS, do means miners in retired?

Mining & Hardware
,
#1

I had concerned about if ETH 2.0 upgraded mean doesn’t working miners rigs for ETH coins. I am not sure.

#2

Yes, when Ethereum moves to 2.0 mining in it’s current form will cease. There are less profitable coins that are mineable (Ethereum Classic will say POW for now at least), but GPU and any ASIC Eth miners will become much less profitable.

1 Like
#3

Clear! it means waiting for the best other coins for miners. Look forward.

#4

Ethereum is not “switching” to 2.0 is is migrating in phases. PoW will be around on Ethereum for years yet. Do not think that all this talk of phase 0 of eth2 soon means mining will be finished. It will not.

4 Likes
#5

So Eth going to POS would mean I stake my shares of Eth and then would make more ? Like being a node ?

1 Like
#6

Yes, that’s essentially what it means. There’s a bit more details to it, but I think that Greer already had a thread somewhere on here about it. Probably something that merits being sticked with how many questions there tend to be about Eth :slight_smile:

2 Likes
#7

Thanks greer for your explanation.
I want to start mining using GPU. as I know the 4GB can’t mining ETH any more because of DAG file size.
So Do you prefer to buy 8GB VGA?
I want to buy RX570 or RX580. and they have 4GB ver and 8GB ver.
I would be happy if you can tell me your advice. and sorry for poor English.

1 Like
#8

I don’t think ETH1.0 will disappear when ETH2.0 is finally phased in. It may well become a different project - not sure what they’ll call it (Ethereum Classic is already taken)

Talking of ETC, it is having problems with security at the moment and so is difficult to exchange when mined, also it looks like this coin is moving to a non-GPU minable algo (SHA-3). This is causing controversy in the community, and may cause another split (another new name needed).

What all this will do for the mining market - who knows?

There’s always Ravencoin :slight_smile:

1 Like
#9

Hmmm… Interesting.
Right now the next most profitable cryptocurrency is RavenCoin?

1 Like
#10

I would not be buying RX570/580 anymore, look to newer cards with faster vram.

2 Likes
#11

why not im just buy 60x more 580 nitro cheap and can mine any coin. any in way 3-4 year no mater how fast vram you have with 8gb card will be not possible mining of dag file size only on rvn mining other wise cards going bin

1 Like
#12

Also future good profitable Grin coin…

#13

You can buy RX 580, but wait until new AMD 6000 series…powerful…

#14