/biz/ - Business & Finance

[Anonymous No.51198959]

Any miners here? What are you gpu bros going to do once the merge happens? For btc and others, are you still running your asics? Difficulty is skyrocketing and electric rates will increase faster over the winter. What are you doing with your coins, Do you plan on selling any profits or just hold for another 2-3 years?

[Anonymous No.51199027]

>>51198959
I used to rent an apartment that had utilities included, flat monthly fee
just left a bunch of mining rigs in there 24/7, since it was technically all profit
i also had to live there so they weren't running 24/7, but it'd flick them on any time i left or overnight
they used to get pretty hot, but i live in a cold country so i just didn't bother turning the heating on
i currently hold everything i've mined
the only way that was profitable was because for the included utilities, now that i have to pay for the amount of electricity i use, and given the recent prices i'm not going to be mining anymore

[Anonymous No.51199360]

>>51198959
> For btc and others, are you still running your asics?
I got quite a few miners, only KDA and ETC miners though. just bought an e9 off mainmining.com but I will definitely continue buying some more BTC asics in the future. ASICs have also dropped alot in price now because of the insane crashes, so its definitely a good time to pick up a couple

[Anonymous No.51199579]

question for eth miners, how does it make you feel that from being able to mine from your bedroom, staking will now be done by a bunch of anointed mining companies, that just had to get a loan and take over from where you brought Eth?

[Anonymous No.51199637]

>>51199579
dont care. theres many other coins to mine (many of which are already almost as profitable as eth to mine, such as flux).
once ethereum goes to PoS I will sell the news and say bye bye to ethereum for good

[Anonymous No.51200146]

>>51199637
this you?

[Anonymous No.51200435]

>>51200146
nope, but hes absolutely correct

[Anonymous No.51200655]

>>51200146
Does anyone honestly care about ETH being environmentally friendly or not? This seems stupid af
Merge hype is all about the reduced supply. Miners get every day a shit ton of ETH to dump on holders. 90% of that ends on 15th Sept. 10% still remains to be got by stakers tho.

[Anonymous No.51200747]

>>51200655
Then why not switch your smart contract over to atom or some other shitcoin? POW is supposed to prevent a rollback or double spend. Something we know ETH is ok with. If a token is going to not care if the network is unbiased, why not pick a coin that can handle greater load bettter now?

[Anonymous No.51200784]

>>51200747
Lol, is this AI generated text?

[Anonymous No.51200817]

>>51200784
no, i thought you would understand. i forgot its only esol

[Anonymous No.51200987]

>>51200655
PoW just doesn't scale, that was the top and tail of it, it wasn't done for environmental concerns, miners will just migrate to something else.

They will trade off some security for scalability, PoS is probably secure enough, maybe, ??????????

[Anonymous No.51201038]

>>51200655
Brother.
Ask yourself what compliance or laws made in the fight against river pollution, environmental protection, animal conservation, oceanic pollution, ecological conservation/protection, renewable energy, etc, has actually had any impact in the aims of keeping the environment clean and safe for the ecosystem it maintains.
Of all those and any category you can think of that fits under the the topic for protecting the environment. Which of those do you think have actually done more than just profit off of good intentions of unsuspecting idiots who are just smart enough to make something work, but, not smart enough to know they are being deceived? The majority of efforts that succeed in their aim to protect in regards to laws that deal with conservation/protection is mainly animals. Everything else that is bigger than that scope is either a means to force a small set of rules upon someone or something. Those small set of rules will lead to an inevitable turn where greater restrictions are enforced. Everything to do with 'climate change,' 'global warming/cooling,' 'humanitarian relief,' and the more macro-esque issues that deal with the planet or an ecosystem itself. All of it is just about money and a means to force people into compliance via a different manner of using language to befuddle and deceive those who are involved who have good intentions. Those who have good intentions will set example for those who may agree with them and that sort of thing can easily cascade into a downstream edfect with tools like social media/mass media around. The least funded efforts for protecting nature often are with animals. They can't use these animals to force you or big companies into "compliance."

I realize this is about crypto and ETH, but, what I am telling you applies to anything where someone is screeching about the environment and who should be held responsible or what laws need to be enforced, etc.

It's a great grift of the age we are living in now.

[Anonymous No.51201085]

>>51198959
I switched to ETC This week.

[Anonymous No.51201154]

>>51200655
Basically all I am sayin is that they don't actually care about crypto being 'environmentally friendly.' If they cared about that at all they would be fast tracking technology to store energy more efficientily or shutting down as well as punishing a majority of pesiticides/poisons producers or the pharmaceuticwl companies, or the industry that treats waste water (where a majority of drugs, 'forever' chemicals, hormones, etc, cannot be filtered properly or at all,) or any organization whose business is running other businesses. (BLACK ROCK, Alphabet Inc., Saudi ARAMCO, etc.)

There certainly are those among the old world of politics who do not want to lose their grasp over their area of the kingdom. Since an economy that has no physical assets or a means to trade with something physical like cash would make them big BIG losers. So to them the idea of a digital currency is heresy or terrorism.

It's a weird world, anon.

[Anonymous No.51201173]

>>51199360
I got a very nice S9j from Kaboomracks some months ago with their custom firmware for $275, crazy considering what they used to go for a year ago. Everyone and their brother is eyeballing Ethereum Classic, I'm going to wait and see what happens after the merge to gauge the hasrate and difficulty before dumping money into an etc miner, but etc will definitely be one of my top alts for the next cycle in my portfolio regardless. I have a small family of Litecoin miners that are still going through the bear, merged Doge payouts are a nice bonus woth those. Keep on mining brother, winter is coming and I plan on using the S9 as a space heater.

[Anonymous No.51201322]

>>51201085
Nice, I think etc is going to do very well next cycle.

[Anonymous No.51201496]

any good websites that track pow coins

[Anonymous No.51202795]

>>51198959
dont you realize yet anon?

energy prices are mooning everywhere (check UK)
soon, mining will be the dumbest thing to do ever, and Proof of Work networks will lose all their security.

[Anonymous No.51202831]

>>51198959
Build my 1st rig 2 weeks ago (2x 3060 ti). I plan to spec mining Ergo but I assume Etc will be the place to be in the short term

[Anonymous No.51202965]

>>51202795
No it won't. Make no mistake, the average hobbyist pleb running aged equipment in his garage will get priced out of the market for sure, even if he gets a small discounted commercial rate; hashrate will be consolidated with dedicated mining companies and conglomerate energy corporations that can afford the overhead necessary for inventory and infrastructure, THEY will get the cheapest and free excess electricity to run all the asics they want. Mining stewardship will be with those who have the power and the money to take it.

[Anonymous No.51203126]

>>51201496
What to mine.com

[Anonymous No.51203148]

>>51198959
>What are you gpu bros going to do once the merge happens?

We forking it man. Crypto skeleton is taking the wrong direction.

[Anonymous No.51203360]

I might buy some Kadena ASICs since the price is in the toilet and they're cheap. Next time the trannies pump it I can resell them for a huge profit and mine for profit in the meantime.

For my GPU operation, assuming I break even on something after the ETH merge I'll probably mine Ravencoin and/or Ergo and hold for a couple years. I made enough money the last couple of years that I can survive a crypto winter now and as long as the project isn't a total scam, holding long-term seems to always result in crazy mining profits vs selling immediately.

[Anonymous No.51204495]

>>51199637
They wont be profitable after the merge and everyone does the same thing you are doing. When all the hashrate switches to the other coins its going to tank their profitability.

You say they are profitable now but they wont be and you are counting on them being profitable.

[Anonymous No.51204527]

ETH 2.0 is such a huge banker scam. They love fees getting paid by the proles to them. Now they take all the miners profits and give it to themselves as stake holders. They get all the fee money for doing nothing at all.

[Anonymous No.51206355]

>>51200987
It's sad how many of you have fallen for the PoS propaganda. PoS doesn't scale any differently. Is the throughput on the ETH network increasing after the merge? No, not at all. But somehow they convinced you it would* (eventually) and you bought it. It was a simple bait & switch. Now scaling is coming after the merge via sharding, which PoW could also do but has its own complications/problems. In fact, with PoW you can just increase the blocksize and get pretty decent scaling, as BSV and Monero have done, but there are security tradeoffs with this (susceptibility to DDOS attacks, etc.). Bitcoin has arguably been way too conservative with increasing the block size as technology has progressed and that has given PoW a bad name. Increasing the block size was always seen as something that would happen as technology progressed, but had security drawbacks so you had to be careful.

[Anonymous No.51208492]

>>51204495
the upcoming coins such as eth classic, flux etc. will most likely start rising significantly in price once the miners start adopting them, just like we saw happen with ehtereum. And when the price rises, it will continue to be profitable even if the hash difficulty rises

[Anonymous No.51208520]

>>51208492
No thats hopium bud. Miners always follow the value its not the other way around. Miners dont create value with their hash power.

Something does not go up in price because alot of people are mining it.

[Anonymous No.51208545]

>>51198959
so thats why they are hiking prices. they are trying to get rid of miners and monopolise the industry

[ooo No.51208597]

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[Anonymous No.51208598]

>>51208520
> No thats hopium bud.
no, its factium. the other mineable coins have already started rising significantly due to adoption.

At the end of the day, PoW will continue to roam the crypto world for the foreseeable future, and both GPUs and ASICs will continue to be fundamental to PoW

[Anonymous No.51208672]

When all the hashrate goes to the other coins after the merge its going to crush their profitability. I think you are in the denial stage.

[Anonymous No.51209383]

>>51208672
It depends on what it is, Ethereum Classic will suffer the most but that's just my opinion. There are other coins on different algos that can be mined than the big ones everyone knows about, people will find something to mine on.