The future of POW altcoin mining

[Husires]

In the past period, I noticed the difficulty of making a good profit from mining some altcoins. If we ignore LTC and Doge, the return from mining a lot of altcoins has become more difficult than in the past. I have about  (850MH 690W) *3 , which is about 2550 MH, and I used to get a return of about $6 per day from mining some altcoins. But now it has become difficult to get $2, so what do you think about the future of altcoin mining?

[ABCbits]

With new altcoin avoiding PoW and there aren't many existing PoW altcoin with strong community or uniqueness, i'd assume altcoin mining would be less attractive in the future. If we look at https://www.coingecko.com/en/categories/proof-of-work-pow, there are only 9 PoW coins in top 100 and 37 PoW coins in top 1000.

[Rex067]

In the past period, I noticed the difficulty of making a good profit from mining some altcoins. If we ignore LTC and Doge, the return from mining a lot of altcoins has become more difficult than in the past. I have about  (850MH 690W) *3 , which is about 2550 MH, and I used to get a return of about $6 per day from mining some altcoins. But now it has become difficult to get $2, so what do you think about the future of altcoin mining?

The future of pow mining altcoin is something else. However there are lots of alternative coin which use different mechanism, such as proof of stake. Most people believe that POW mining will continue to increase in profit in a long term.

[Husires]

With new altcoin avoiding PoW and there aren't many existing PoW altcoin with strong community or uniqueness, i'd assume altcoin mining would be less attractive in the future. If we look at https://www.coingecko.com/en/categories/proof-of-work-pow, there are only 9 PoW coins in top 100 and 37 PoW coins in top 1000.

Many of them are bitcoinForks and the rest have low hashrates that make renting nicehash a good amount of money to perform a 51% double spend attack.
will try my luck with KAS

[philipma1957]

I am mining raven coin with a lot of gpus. Basically I am breakeven  will slowly sell cards off as time passes.

[KingsDen]

The future of POW altcoin mining

I have e known PoW for bitcoin while PoS for altcoins. It is a matter of time and every altcoins will migrate to PoS. It was same with BTC where 50BTC was the reward with a lesser energy and what about it today. Solo miners are no longer profitable. Altcoins cannot withstand this but will soon change protocols to PoS.

[MrSpasybo]

I have e known PoW for bitcoin while PoS for altcoins. It is a matter of time and every altcoins will migrate to PoS. It was same with BTC where 50BTC was the reward with a lesser energy and what about it today. Solo miners are no longer profitable. Altcoins cannot withstand this but will soon change protocols to PoS.

I don't think ALTS will switch to POS anytime soon because we still have ETC/ETHW - blockchains that are thriving based on POW. My friends are still mining ETC/ETHW and making a decent profit. Other POW coins are also very popular like DOGE, LTC, XMR - I believe thay they will not switch to POS.

A new POW project called Kaspa has seen an impressive price increase for the KAS token, confirming the strong presence of POW in the crypto market. POS has an energy advantage, but decentralization is a complex issue, and even the Ethereum Foundation is looking to address this issue as LSD and LRD become more popular.

[electronicash]

I have e known PoW for bitcoin while PoS for altcoins. It is a matter of time and every altcoins will migrate to PoS. It was same with BTC where 50BTC was the reward with a lesser energy and what about it today. Solo miners are no longer profitable. Altcoins cannot withstand this but will soon change protocols to PoS.

I don't think ALTS will switch to POS anytime soon because we still have ETC/ETHW - blockchains that are thriving based on POW. My friends are still mining ETC/ETHW and making a decent profit. Other POW coins are also very popular like DOGE, LTC, XMR - I believe thay they will not switch to POS.

A new POW project called Kaspa has seen an impressive price increase for the KAS token, confirming the strong presence of POW in the crypto market. POS has an energy advantage, but decentralization is a complex issue, and even the Ethereum Foundation is looking to address this issue as LSD and LRD become more popular.

KAS rocketed to $0.14 few months ago. i hurried to buy some of it but after that it slowly just going down. i learned the coin actually existed since 2020 and there were lots of people mining already that time. not sure how big the community acutally.

but these days investors are asking the use case of the coin before investing. that's why POW altcoins sometimes are not very attractive to investors. if it were like ETH which has smart contract and can be mined as well. i think there will be demand.

[NikeFit_7777]

Argentina's state-owned company YPF Luz has started mining BTC using excess gas from oil fields - together with Genesis Digital Assets Limited (GDA) they have built a 7 megawatt facility with 1,200 mining devices.

Source link: https://genesisdigitalassets.com/gda-partners-with-ypf-luz-to-launch-a-bitcoin-mining-center-in-argentina-powered-with-repurposed-flared-gas

[NikeFit_7777]

Texas Senator Ted Cruzhas revealed that he bought 3 Bitcoin miners - and is now proud to join the ranks of Texas miners. Cruz previously admitted to being a Bitcoin investor, buying BTCon Monday mornings.

P.S. It's great to read news like this - if only states would realize the actual value in mining and t.c. They're just waiting for something to happen. 

News link: https://x.com/tedcruz/status/1796660168781955314

[paid2]

@NikeFit_7777 I think your last 2 replies here aren't in the good topic, which is "The future of POW altcoin mining"

[MrSpasybo]

KAS rocketed to $0.14 few months ago. i hurried to buy some of it but after that it slowly just going down. i learned the coin actually existed since 2020 and there were lots of people mining already that time. not sure how big the community acutally.

but these days investors are asking the use case of the coin before investing. that's why POW altcoins sometimes are not very attractive to investors. if it were like ETH which has smart contract and can be mined as well. i think there will be demand.

KAS has experienced impressive growth, indirectly confirming that POW tokens still have the potential to bring profits to investors in this cycle. The POW or POS consensus protocol only changes the way block rewards or transaction fees are distributed, and does not affect the ability to apply smart contracts. Ethereum previously also used POW and was very popular, ETH price also grew strongly in the bullruns 2017 & 2021.

Currently, we have to admit that POS has become too popular because it is easy to deploy, they are more environmentally friendly and do not require powerful hardware like POW but only require validators to have enough native token to stake and a minimum hardware to confirm transactions. I don't think POW will disappear soon but POS is clearly dominating.

[Vision pro]

I don't know much about it, but I'm taking some comments from those who have commented here. The future of Altcoin mining is challenging, but there are still opportunities to make a profit.  The ability to quickly adapt to new strategies, innovations and market changes will be critical to maintaining profitable mining.  Research PoS and other models as alternatives to PoW mining, as the cryptocurrency sector moves toward more environmentally friendly and efficient consent processes.  You may finally understand what I mean.

[NotATether]

Maybe the value of the altcoins you are mining just had their prices slashed and that is what's causing the profitability decline?

That seems like the most plausible situation for me.

The thing is, people are not really making mineable PoW coins that become big anymore, with the exception of privacy coins, so we'll just have to wait and see if the next BTC bull run brings up the other altcoins.

[B.Trader]

Maybe the value of the altcoins you are mining just had their prices slashed and that is what's causing the profitability decline?

That seems like the most plausible situation for me.

The thing is, people are not really making mineable PoW coins that become big anymore, with the exception of privacy coins, so we'll just have to wait and see if the next BTC bull run brings up the other altcoins.

the potential impact of declining altcoin prices on mining profitability. When the value of the coins being mined drops, it can drastically reduce the returns from mining, especially if the mining difficulty remains high. This scenario is common during bear markets, where altcoin prices can be heavily slashed, making it less profitable or even unprofitable for miners to continue their operations.