Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Ramesh Das on September 16, 2022, 11:11:49 AM
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Hi folks,
After the successful (apparently eth merge), me and many others as eth miners, should ask ourselves not only which is the most profitable coin right now but which one will still be lucrative in the future... that means it should be a very solid coin and project
Today ethw is fully operative to be mined but couldn't find anywhere if it is profitable now or not... where could I check that?
Any help and advice would be appreciated, thanks in advance
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There are still many PoW digital coins out there so if you are a miner you go ahead and explore the many options under your wrist. Miners know what they are doing and the plan for Ethereum to shift from PoW to PoS did not took place overnight so I am sure that they are all prepared and many of them have already shifted to other profitable mining activities weeks ago.
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I'm sure its not profitable with current price equals 10$ - https://coinmarketcap.com/currencies/ethereum-pow
Its 1.5% of ETH price so 98.5% of old ETH miners will have to quit to make it profitable. I'm sure its not that low today. I'm sure that there are more than 1.5% of miners that left their machines running after merge.
After ETH merge there is no good POW gpU minable coins that "will still be lucrative in the future", pick the best short term apy and dump as soon as you mined it. But I gess POW mining will enter a long term winter as 95% all GPU miners are without job now looking for alternatives.
https://whattomine.com/
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https://miningpoolstats.stream/
I used search data from the website above to see the Hashrate of miners, I think there are many other potential coins to be mined, Kadena I think is good, you can see the full list there and the pool of miners
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A few years ago, I used Nicehash because I don't need to commit to a particular coin. I just mine the most profitable algorithm and stack BTC, not sure today if they support other coin payments. This way, you don't need to sell a shitcoin in a small market. You can also trade BTC to XRP for example for a cheaper and faster withdrawal, or better with lightning network for free.
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It is a bear market trend, so I think buying directly on the market is the most beneficial. Mining it raw is good, yes but buying them will solve us maintenance expenses and other stuff. Besides if we buy, it is a guaranteed coins/token while if we mine, we need time, pool mining might be helpful but at the current price it points that Buying is way better.
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I've never been a miner myself, and I can't really say I understand mining economics. But I always thought, if I ever become a miner, I would mine XMR and AR.
Sure, it may not be lucrative... But hey - you can bet your head XMR would never fork to a PoS, so your mining business will have economic security in this regard (lol, no pun intended). Yeah, I guess regulations may lead to XMR delistings... but I don't think current delistings so far had any noticeably bad effect.
Same thing with AR. Basically, if I was a miner, I would like to have security for my business - to know that there won't be some DAO that decides to go PoS all of a sudden and basically force me to shift my whole business model. If I want the venture to be more lucrative, well, I guess I should increase my investment in it.
I may be confused and wrong, again - not a miner. But I'm not far from the idea of becoming a miner and that's how I would go about it I guess.
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It is a bear market trend, so I think buying directly on the market is the most beneficial. Mining it raw is good, yes but buying them will solve us maintenance expenses and other stuff. Besides if we buy, it is a guaranteed coins/token while if we mine, we need time, pool mining might be helpful but at the current price it points that Buying is way better.
Mining is very expensive and we must buy equipment and pay electricity.
I think I agree with you, at bearish season we should buy and hold.
That's my way to gain profit now.
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I know after the eth merge the miners will slowly look for other coins to mine and of course increase the demand which will drive up the price. Some coins to glance at like Ravencoin, Ethereum classic, and Beam. But the thing is mining is expensive caused it's require more hardware to do the work and it's need more energy consumption.
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Currently, I am not mining for any coins. I even started selling the graphics cards I had. I can say I've done enough damage. Bitcoin caught me at a very bad time. I can say that I will never do mining again.
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Mining is also investing money and time in the crypto market, so you should choose coins with real potential. Our advice to miners, of course, is to get involved in the Bitcoin mining market. However, at present, some Altcoins are also very potential such as ETC, RVN or FLUX. You should refer to these coins for the best mining plan.
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Are you sure that you are ging to me right now? We have seen how mining activities right now is very decreasing. However because of the high cost of mining.
But if you have been ready with he cost and risk, mining Bitcoin is always number 1. Then followd by mining Ethereum and also Doge coin
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think the Ethereum genealogy isn't entirely gone from mining. You still got Ethereum Classic to mine. So point your miner workers to their mining pools and get a-hashing now. I think the difficulty would be low after its initial pump and subsequent correction. Another option is Litecoin. It still has some use cases especially after its partnership with Atari and of course it has a burgeoning community right now
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In my opinion, it is necessary to analyze the coin before taking it. So that before investing its move can be understood and negativity can be studied so that there is no loss in it in the coming time. Any of the top ten coins can be taken first.
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Mining is very expensive and we must buy equipment and pay electricity.
I think I agree with you, at bearish season we should buy and hold.
That's my way to gain profit now.
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Mining equipment is expensive, that's what makes the price of Ethereum go up, because many miners are holding holders, I think there are still many coins that can be mined and the price can go up close to Ethereum, this happens because ETH coins can no longer be mined and existing mining equipment can be used to mine the coins on this list https://coinmarketcap.com/currencies/ethereum-pow
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ECOS,Vertcoin coin should mine right now. The best cryptocurrency to mine depends on the hardware you're using to mine. You can use a mining calculator to estimate your profits from different cryptocurrencies, or you can simply use a program that always mines the most profitable cryptocurrency at any given moment.
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Currently, I am not mining for any coins. I even started selling the graphics cards I had. I can say I've done enough damage. Bitcoin caught me at a very bad time. I can say that I will never do mining again.
What happened with your mining previously?
Sure, it is not a must to mine a crypto coin. If you think it is not worthful, you can choose to buy the coins on exchanges. I am also not a miner, I prefer buying crypto coins in exchanges. Sometimes mining requires high fees, it is also needed enough knowledge of mining aspect. If we don't have sufficient knowledge of it, just avoid mining.
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As a trader and investor, I think I didn't like to mine crypto because it's huge money to invest there.
Maybe several people still do miner, but for me It's not profitable enough.
But it depends on your way to gain profit.
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Bitcoin and Ethereum are always good for mining.
But I see several opinions here, many investors just buy and hold and several of them do trading.
They didn't like to mining.
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If I have more money, I will do mining.
But I just have little fund for crypto investment.
I think trading and investing is the best way for me.
But maybe at the next year, I will do.
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it's hard to say which coin will be an analogue of ETH in terms of profitability now, probably there is no such coin at the moment and will not appear in the near future ... most likely, mining will quietly fade into the background, this type of activity becomes extremely unprofitable
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For me mining is good but since I am not a miner I didn't mine. Hehe. However, I like to stake tokens while the market dump. This is good opportunity to earn passive income at this bearish momentum. You stake and earn additional tokens depends on the percentage. There are a lot of tokens now that offers staking ways. It is another way to earn free money. IMO
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For me mining is good but since I am not a miner I didn't mine. Hehe. However, I like to stake tokens while the market dump. This is good opportunity to earn passive income at this bearish momentum. You stake and earn additional tokens depends on the percentage. There are a lot of tokens now that offers staking ways. It is another way to earn free money. IMO
lol, I'm trader so I didn't mine...haah
Mining is very expensive and need Hugh money to buy equipment, pay electricity cost etc.
At several countries also banned.
That's fact
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I don't think EthW has a long term effect. People , especially mainstream investors would still see the Ethereum as, well, the main Ethereum and EthW would be always be viewed as a cheap knock off, as is indicated in the price action seen here
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As a trader and investor, I think I didn't like to mine crypto because it's huge money to invest there.
Maybe several people still do miner, but for me It's not profitable enough.
But it depends on your way to gain profit.
That's your choice, there are many ways to profit, trade or Futures that we can see on some exchanges will provide an advantage if we are experts at guessing the price, but miners are different, Bitcoin price increases for example, this is caused by the miners' reward decreasing because of the halving, many miners are holding and they are for more than what i imagined.
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As a trader and investor, I think I didn't like to mine crypto because it's huge money to invest there.
Maybe several people still do miner, but for me It's not profitable enough.
But it depends on your way to gain profit.
That's your choice, there are many ways to profit, trade or Futures that we can see on some exchanges will provide an advantage if we are experts at guessing the price, but miners are different, Bitcoin price increases for example, this is caused by the miners' reward decreasing because of the halving, many miners are holding and they are for more than what i imagined.
trading is not about guessing the price, trading is about seeing the movement of the instrument and joining it in time.Guessing where the price will move is for gamblers