Re:The Ethereum merge is done
by dcolkitt on Thursday September 15, 2022 @11:17AM
(#32853336)
There's virtually no other ASIC resistant (i.e. can use GPU) PoW coin left to mine. There's the proof-of-work ETH fork, but it only has a market cap less than 2% of than real ETH. So even though they juiced the block rewards, miner rewards are more than 90% lower, which isn't enough to pay for electricity of the previous hash rate.
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ETH classic hash rate went from 50 to nearly 300 Th/s. https://2miners.com/etc-network-hashrate
Re:The Ethereum merge is done
by trompetenaccoun on Thursday September 15, 2022 @02:00PM
(#32855971)
Yep. But with that the difficulty is going through the roof and earnings are dropping. Ethereum had A LOT of hash power while ETC isn't really used by anyone so where are the earnings supposed to come from. It's not going to be economically viable because the electricity is a fixed cost, even if some individual miners are trying it out.
There is a new PoW fork that was started by miners that want to continue mining. Some of the work could go there assuming it doesn't tank. I personally don't see the utility though, doubt it will be able to attract many users.
Reality will set in eventually. It was just the lazy place to point the cards, the pools will get tired of wasting that money pretty fast.
Re:The Ethereum merge is done
by staringback on Thursday September 15, 2022 @05:22PM
(#32858614)
And the price remained the same, so it is now 6x less profitable to mine than before (it was barely profitable before this)
What about Monero? Isn't that PoW and asic resistant?
Although irc you need to use a cpu, not a gpu to mine it.
True, there are not many (or any) that will be as profitable but some still exist such as ergo, https://ergoplatform.org/en/get-erg/#Mining .