coin: GPU Miners future after ETH transition to Proof-of-Stake

coin: GPU Miners future after ETH transition to Proof-of-Stake

< Show Wisdom Collection: GPU Miners future after ETH transition to Proof-of-Stakearticle avatarIwona Lekka

Sans profession

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

ETH miners will have plenty of options. They generally are mining with GPU and not ASIC which gives them much more flexibility on the use of the computational resource, whether they want to switch to another coin or use GPU for other workloads like AI or remote rendering tasks.

Will the loss of so many miners affect the value of GPU mining projects?

Will not affect

Is it worth being a miner if we don't have any hardware? Why?

It is not worth it, it threatens with rapid damage to the equipment. Cryptocurrency mining should take place on professional equipment specially prepared and adapted for this

article avatarBankole Oluwamayowa

Web developer

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

Considering the financial, mental, human investment that has been invested in GPU mining, abandoning the GPU mining is not the best solution to the Ethereum transition from the proof of work to proof of stake. Rather, working with another less known project will be a better option.

Will the loss of so many miners affect the value of GPU mining projects?

Yes

Is it worth being a miner if we don't have any hardware? Why?

Well, it is a NO from me. Being a miner takes a little effort with huge fund. But it is very an interesting thing and of course high paying. One major challenge over the time is that miners painstakingly ensure there is no duplication of the coin that is being mined. Definitely the inclusion of an hardware will help solve this major problem of duplication.

article avatarAbdulla Khussan

Telegram Group Moderator

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

About 50% or more of the Miners will probably start mining other coins which is known and has a good enough block reward or completely stop, while some will move to Proof-Of-Stake coins and sell their mining rigs if the most profitable Proof-Of-Work coin doesn't give a good ROI.

Will the loss of so many miners affect the value of GPU mining projects?

Yes

Is it worth being a miner if we don't have any hardware? Why?

No there is no point being a miner if we don't have the hardware. If a mining rig is not profitable there is no point to waste electricity in hopes of eventually making it to a bullrun if you don't have free electricity (with renewable energy)

article avatarS Pal

Investor

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

After the transition, Mining will have to transition to projects with high enough ROI on the particular rig set up. I think projects with Cryptonight variants and Cuckoo Cycle variants have the most promising future given the necessity of GPU mining rigs for these algorithms. Since the GPU & mining rigs are usually owned outright, abandoning GPU mining does not make economic sense unless the ROI is very low.

Will the loss of so many miners affect the value of GPU mining projects?

Yes

Is it worth being a miner if we don't have any hardware? Why?

Yes. It helps to secure the network. Mining helps generate incremental increase to the increase of the mined coin regardless of the price of the coin. From a long term perspective, if a miner is not worried about the near term economic outlook, mining is a good way to build up a crypto currency portfolio.

article avatar0BTC Life

Crypto enthusiast

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

I don't think that people or companies that currently mine ETH on GPUs will stop altogether. Sure, there will be the small minority that will stop but the majority will just change the coin they mine. Ravencoin is one that comes to mind.It is already GPU mined in masses thanks to the fact that it can be mined with GPUs that have a memory capacity of less than 8GB.

Will the loss of so many miners affect the value of GPU mining projects?

Probably in the short term yes, in the long term no.

Is it worth being a miner if we don't have any hardware? Why?

For me personally, no, it is not worth being a miner.But for the big companies, yes. Miners keep the nodes functional and the networks running. My personal opinion is that with the complete transition of ETH from proof-of-work to proof-of-stake, many more altcoins will follow and proof-of-work will become a fringe consensus mecahnism.

article avatarMujeeb Zakarryau

UI UX DESIGNER

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

Once Ethereum merges with the Ethereum 2.0 Beacon Chain, mining on the network will become obsolete. For miners, there will be no block subsidies, no transaction fees and certainly no miner extractable value (MEV). Revenue from transaction fees and MEV will instead be awarded to users who contribute to network security by staking their coin holdings

Will the loss of so many miners affect the value of GPU mining projects?

Yes

Is it worth being a miner if we don't have any hardware? Why?

Different types of cryptocurrencies may require different types of hardware for best mining results. ... But for cryptocurrencies without dedicated hardware, such as Ethereum, Zcash and BitcoinGold, graphics processing units (GPUs) are good enough to process the transactions.

article avatarMuhammad Irfan

Crypto enthusiast

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

I think they will do new mining which is more efficient and environmentally friendly and energy efficient, because we know GPU mining machines require a lot of electrical energy

Will the loss of so many miners affect the value of GPU mining projects?

yes, because more and more miners eat mining speed will increase fast, otherwise too many miners will be slow

Is it worth being a miner if we don't have any hardware? Why?

really not worth it, because we need a GPU mining machine tool to get a coin, so you must have a GPU, if you not have hardware you can use phone for farming or stake

article avatarHai Do Son

Financial invester

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

I think the miners will choose another project to mining. Because they have to use their GPU for another taget or take away them. Anyone had bought the Graphic card will use them in the best way they can. If they sell the Graphic card, the returns will be less extractive.

Will the loss of so many miners affect the value of GPU mining projects?

No, they have to choose what is the best way to get coin. So that GPU mining project still be one way to actract them to invest if the they still have good electric power.

Is it worth being a miner if we don't have any hardware? Why?

Yes, it's worth. Because the investment in to hardware like GPU and CPU required a big number of money. When somnone want to be a miner, he has to have money to invest in hardware and the electric power system. If they don't need them anymore, they will have more exciting to have change to join into another new project.

article avatarercüment temiz

cook

What would miners do after the transition? Choose another, less-known project or abandon the GPU mining?

When the current PoW chain "merges" into the PoS chain and kicks off Ethereum 2.0 in earnest, which could be before the end of the year, according to Ethereum core developer Tim Beiko, mining is effectively turned off. Beiko told Decrypt, "Miners should aim to break even before then."

Will the loss of so many miners affect the value of GPU mining projects?

yes

Is it worth being a miner if we don't have any hardware? Why?

Unless you have a large number of GPUs to put to work, you’ll probably still want to join a mining pool. They’ll take a fee, but often that is only 1 percent. In exchange, you get a share of the proceeds from a large number of miners, rather than relying on your own probably meager chance of mining an entire coin on your own.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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