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[Margery]

I want to make a reservation right away, what will be written below is only my thoughts, and not advice for action.

After Ethereum switched to POS in mid-September, most of the miners who mined it on their rigs and farms were confused. What to do? Looking for an alternative altcoin or selling equipment?
If mining was the only income for someone, then in my opinion it will not be so until such time as an alternative to Ethereum appears. So far, high rewards are not seen in more than one cryptocurrency, not to mention altcoins. Not to mention that they simply do not cover the electricity bills spent on mining cryptocurrencies. On the other hand, selling equipment and buying cryptocurrency is now a kind of risk! Even among altcoins. It is not clear which of them will go up and which one will scatter. In any case, buying thoughtlessly is also not worth it. Before buying, I think it is worth doing a thorough analysis of the capitalization and future prospects of the chosen cryptocurrency (altcoin).

Profitability from mining decreased due to the fact that, firstly, the cost of all cryptocurrencies in general fell, and secondly, due to the fact that miners switched their capacities that had previously mined Ethereum to other cryptocurrencies. Accordingly, the difficulty of mining cryptocurrency has also increased. That is, the reward received by the pool must now be divided by a larger number of miners (pool members).

The profitability of mining, I believe, will grow only after the appearance of the altcoin, which will pull away the power of the previously mined Ethereum. Strong cryptocurrencies (altcoins) still exist. For example Kaspa, ETC, ERGO and a few others. But the yield on them is so small that it's not worth it to mine them yet, unless you have free electricity or its cost doesn't matter to you. I think that now all that remains is to wait until one of the cryptocurrencies gains a sufficient level of capitalization (that is, when the majority believes in it) and the value reaches the level when it will be profitable to mine it. Buying crypto is also another question, the market is so unstable that you invest the last money (there are not free ones, there are a lot of fanatics), and in the morning you wake up ... and only a clasp remains from the crypto portfolio (joke).

As I wrote above - all this is just my opinion. I have been thinking about this for a long time, I wanted to share with the participants of this forum.
P.S. Now I'm testing ERGO mining on one RX 580 8Gb video card, I'll see what happens, taking into account the cost of electricity.

 

[Margery]

There are several internet business available online to check out for ,many are making more money off this offline business , but the thing is that you should always ensure that the risk factors are highly considered before anything else

Offline, if you do not run your own business, but work for someone else, then the risk factor is reduced to zero. If offline there is a risk in the performance of work, then it is additionally paid. On the Internet, we usually work for ourselves, so we either have to agree to take risks or not.

 

[Wisdom01]

Offline, if you do not run your own business, but work for someone else, then the risk factor is reduced to zero. If offline there is a risk in the performance of work, then it is additionally paid. On the Internet, we usually work for ourselves, so we either have to agree to take risks or not.

yeah on the internet we usually work for ourselves ,I believe there are actually different offline business available to check on , but I have noticed that there is still some particular ways to run both the offline and online business together

 

[Margery]

yeah on the internet we usually work for ourselves ,I believe there are actually different offline business available to check on , but I have noticed that there is still some particular ways to run both the offline and online business together

A simple example of an offline, online business is when the production of any goods is offline, and the products themselves are sold via the Internet, including for cryptocurrency. There are so many. Nothing is made on the internet. Except perhaps cryptocurrencies, websites and other electronic products.

 

[Riberet19]

A simple example of an offline, online business is when the production of any goods is offline, and the products themselves are sold via the Internet, including for cryptocurrency. There are so many. Nothing is made on the internet. Except perhaps cryptocurrencies, websites and other electronic products.

Having a combination of online and offline earnings would be ideal for anyone who wants to make good money in the modern world, since the Internet is essential for many aspects today and could not be missing in the financial field, but the world will never stop being physical and resources come from there so the real business will always come from there.

 

[Wisdom01]

Having a combination of online and offline earnings would be ideal for anyone who wants to make good money in the modern world, since the Internet is essential for many aspects today and could not be missing in the financial field, but the world will never stop being physical and resources come from there so the real business will always come from there.

having a combination of both online and offline earning is really good ,there are ways you could earn online and offline , you should actually check out the various ways ,many are earning from internet ,they have seen it's as a profitable business

 

[Riberet19]

having a combination of both online and offline earning is really good ,there are ways you could earn online and offline , you should actually check out the various ways ,many are earning from internet ,they have seen it's as a profitable business

yes, I really prefer online earnings, but you should never forget offline earnings because if you are successful in your online earnings you can always look for offline businesses that you can combine to be more versatile and therefore earn more money

 

[Margery]

Having a combination of online and offline earnings would be ideal for anyone who wants to make good money in the modern world, since the Internet is essential for many aspects today and could not be missing in the financial field, but the world will never stop being physical and resources come from there so the real business will always come from there.

I'm talking about this. In if you conduct business earnings only on the Internet, then it is to trade in electronic goods. Cryptocurrency is one of them. By the way, we all quite often confuse the concepts of business and just earnings. The cryptocurrency exchange is a business. We are on it - this is earnings. And yes, business usually combines offline and online.

 

[Wisdom01]

yes, I really prefer online earnings, but you should never forget offline earnings because if you are successful in your online earnings you can always look for offline businesses that you can combine to be more versatile and therefore earn more money

I have never forgotten the offline earning , because the online platform could actually cease to exist at any time ,but the office business and earnings you are actually making would still probably keep you on top of the game of earning

 

[Riberet19]

I have never forgotten the offline earning , because the online platform could actually cease to exist at any time ,but the office business and earnings you are actually making would still probably keep you on top of the game of earning

Well after everything we discussed at the end of the day the most important thing is the skills acquired both online and offline which is what you in the end will exploit or sell and they will generate benefits, I think this is the most important of all.

 

[Margery]

You have to be a strong Internet specialist to refuse to earn money offline or just a housewife. For most of us, the Internet brings only additional income. I think that a person completely goes online only when such earnings are greater than offline earnings.

 

[Mar20]

The transition of Ethereum from a Proof of Work (PoW) consensus algorithm to a Proof of Stake (PoS) consensus algorithm is expected to have a significant impact on the future of mining.
With PoS, validators are selected to validate transactions and create blocks by holding and staking Ethereum, rather than by solving complex mathematical problems as in PoW. This means that the need for powerful and energy-intensive mining hardware will be reduced, making it less profitable and accessible for individuals to participate in mining.
As a result, the mining industry for Ethereum is expected to shrink, and larger players and validators are likely to dominate the market. It's also possible that some miners may shift their focus to other cryptocurrencies that still use PoW or other consensus algorithms.
However, the shift to PoS is expected to have many positive benefits for the Ethereum network, including increased security, reduced energy consumption, and increased scalability. The full implications of the transition are yet to be seen, but it is likely to have a significant impact on the future of mining and the cryptocurrency industry as a whole.

 

[Riberet19]

You have to be a strong Internet specialist to refuse to earn money offline or just a housewife. For most of us, the Internet brings only additional income. I think that a person completely goes online only when such earnings are greater than offline earnings.

Yes, online earnings are a supplement most of the time, although they can become the main source if you have coveted skills.

The transition of Ethereum from a Proof of Work (PoW) consensus algorithm to a Proof of Stake (PoS) consensus algorithm is expected to have a significant impact on the future of mining.
With PoS, validators are selected to validate transactions and create blocks by holding and staking Ethereum, rather than by solving complex mathematical problems as in PoW. This means that the need for powerful and energy-intensive mining hardware will be reduced, making it less profitable and accessible for individuals to participate in mining.
As a result, the mining industry for Ethereum is expected to shrink, and larger players and validators are likely to dominate the market. It's also possible that some miners may shift their focus to other cryptocurrencies that still use PoW or other consensus algorithms.
However, the shift to PoS is expected to have many positive benefits for the Ethereum network, including increased security, reduced energy consumption, and increased scalability. The full implications of the transition are yet to be seen, but it is likely to have a significant impact on the future of mining and the cryptocurrency industry as a whole.

Exactly, this is the main problem of the POS that becomes more centralized and therefore those at the top take over the majority of the shares, especially if you need 32 ETH to create your validator node...

 

[Mar20]

The future of mining in the Ethereum network is uncertain after its planned transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) mechanism. With PoS, instead of miners solving cryptographic puzzles to validate transactions and produce new blocks, validators are chosen to create blocks proportional to the amount of Ethereum they hold and are willing to "stake" as collateral. This shift is expected to greatly reduce energy consumption and increase scalability, but it also means that traditional mining with GPUs will no longer be possible.
Instead, validators will earn rewards for participating in block validation through staking, and there may be opportunities for users to earn rewards through other means, such as providing liquidity to decentralized exchanges. It's too early to say for sure what the future of Ethereum mining will look like after the transition to PoS, but it's likely that the role of miners will change significantly.

 

[Margery]

I agree, mining can be a good option if you have the right equipment and access to cheap electricity. Otherwise, it can be a financial burden. Calculating your profits and expenses after a month of mining can give you a clear picture of the viability of your operation.

Mining calculators are used to calculate the profitability of cryptocurrency mining. They can be used to estimate how much a miner can earn in a certain period of time, taking into account the difficulty of mining cryptocurrency, the cost of resources and electricity, and the value of the currency. This information can be used to determine if mining a particular cryptocurrency is a profitable venture. Mining calculators can also be used to compare the returns of different cryptocurrencies and help miners choose their mining.

 

[Margery]

They are indeed an important tool for miners and help them in making informed decisions about their investments. With a mining calculator, miners can also adjust their settings and variables, like hash rate and electricity costs, to determine the most profitable mining strategy. It's good to have a variety of options available, as different calculators might have different features and provide slightly different results.

I can divide them into two categories. Some give you all the information you need right away. In others, you need to enter your data to receive it, since they only present general data, so to speak, averages.
I am currently using the first one. I look when mining on my equipment will be profitable.

 

[Margery]

I understand that you prefer to use a mining calculator that provides you with all the necessary information without having to input any data. It is important to find a calculator that meets your needs and provides accurate information, especially when it comes to profitability.

Yes, it suits me perfectly. The most profitable coins for my equipment are immediately shown and the result of the hashing if I had been mining all day. Quite convenient service. Although there are many of them on the Internet, but everyone chooses his own.

 

[Mdoer]

I hope that the Ethereum rate will still grow, as the cryptocurrency as a whole sank well over the past year. And then I think the price of electricity will fall and the power of computers and components for mining will grow. That even with an increase in the complexity of mining will allow you to mine more.

 

[Gen Evie]

You can no longer mine Ethereum, but you can perform the same service and earn similar rewards by staking Ethereum. Proof-of-stake will also be faster than proof-of-work as it can process over 100,000 transactions per second compared to the PoW's 30 transactions per second. The proof-of-stake energy efficiency and wide distribution of infrastructure make the Ethereum blockchain more robust.