My understanding is that “most likely” by June ETH will go to proof of Stake vs Proof of work… What does that mean for those with ETH miners… How long can they still mine ETH and does that mean their machines are then worthless??? wanting to know if the danger is worth the reward… Thank you.
In my opinion, definitely a bad idea IF you’re just starting out. If you already have GPUs then by all means hash away. It’s just a bad time to get into any coin that will be non mineable in the near future. Just my opinion and not financial advice in any way. Good luck to you either way!!
The main factor is cost of electric. If its cheap or free that would make it a lot more viable than if ya paying 20c.
I get that too but even with cheap electric I doubt you get your money back on any asic. GPU, definitely because you have other coins to switch off too. I guess there’s an argument for both sides. They have delayed this for years but this looks the one year they get it right.
I get 12 hrs of electric a day, so for me any miner would pay for itself over time. But not everyone has that option.
My electric cost is cheap enough. And mining with the ASIC is the only to really make bigger gains, even with their high cost. once paid for, you only have electricity to pay for. My question isn’t about mining in general, but ETH mining as they are going to proof of work. I have no idea as to when you will no longer be able to mine ETH… Thank You.
maybe this article will help?
of course not. cuz i have seen many did this got rich,and i have gaining as well.
I thought you would still be able to mine it but earnings would go down 30-40%….
Still… why would anyone buy an Asic to mine ETH when you know they will move to POS.
It has the biggest profits. I wanted to see if there was a grace period or if the door would just be slammed shut… People have already spent huge amounts of money for the machines and now they are pushing harder to make it proof of stake… Guess I will stay with KDA…
Do you think ETC will still be mineable?
How do you mine an unminable coin even if they paid you to use electricity?
Yes sir, they have no plans to change.
But those are 2 different algos now!! Mineable on some units like the Jasminer, but most ETH ASICS will be paperweights.
thanks for responding!