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

Web Developer

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

In my opinion, the GPU miners (ETH miners) have 2 option after ETH move to PoS. 1. ETH miners can mine other crypto currency such BTC, LTC, DASH, etc. 2. ETH miners can move to become Ethereum node validator. More efficient, clean and cheaper than mining. 3. Become ETH stakers. It can help secure the ETH network.

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

Not at all, because many project still use PoW to maintain the network, and the miners still can mine Crypto.

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

Of course not, because for mining Crypto need at least 1 hardware like ASIC or GPU to mine crypto. You can rent hashpower on Miningrigrentals or Nicehash but the cost is more than the profit you get. It is based on my experience.

Author

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

Instead of abandoning their passion for GPU mining, miners need to have diversified interests and back-up plans. At least for now. In this wild-west landscape of crypto world, you don’t know what is around the next corner. Just like any business person, you need to be able to diversify, and diversify quickly.

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

No. There will always be someone to cash in. The loss of so many miners could create a monopoly.

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

Mining is all about the endgame. Miners have knowledge and experience. Just because something is not profitable today does not mean that it won’t be profitable in the future. The game is constantly changing, and you can’t win if you don’t play.

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