In the past, when GPU miners lost LTC, ZEC or XMR to ASICs, they were just one small part of a very big pie. History is not a useful guide for what comes next, because nothing like this has ever happened before. The total amount of income available to ALL GPU miners is going to drop by 97%. They lull you into a false sense of security. But mining calculators are not showing you the relative hashpower and income of the various coins when they show you all these alternatives to ETH. If they’re your primary way to predict the future, things don’t seem so bad. This is why I hate mining calculators with the burning passion of a thousand suns. There is no universe where almost everyone doesn’t drown.
It’s like the Titanic is sinking, and there’s only one rickety old lifeboat to share. Even if I was off by 50%, it’s still game over. Every other altcoin combined doesn’t even add up to the income of ETC, which was itself a tiny sliver of the income of ETH. But… there are lots of other coins, so if the total aggregate income between them adds up to a nice healthy number, things will be fine! Let’s survey the landscape of GPU mineable altcoins: GPU Mineable Coins 05/2022 We’re two whole orders of magnitude off here. We’re not even in the same galaxy as ETH.
It’s the second biggest coin, and if it puts out a comparable total income as ETH, there will still be plenty to go around post-merge. That’s the total amount of income all ETH miners share, every single day. The block time is the amount of time between each block, and from this, we can determine the number of blocks produced per day. The block reward is the number of coins rewarded for finding a block. Price per coin x Block Reward x Daily Blocks = Total Daily Income. All mining income is based on a simple formula: To understand why you must look at the big picture. If all anyone was facing was a 28% cut in profitability in profits post-merge, it would be rough, but it would be survivable. A 6X RTX 3070 rig will pull about $8.60/day on ETH, and $6.25/day on ETC. But most GPU miners are in the green regardless of what they mine. Right now, in mid-2022, things are a little tight. So, without further ado, let’s do the math. This isn’t mere speculation – this is math. When Ethereum turns off the lights, there are going to be no good options left. Sure, you will technically be able to mine something else.
It’s not the first time a coin has been lost to GPU miners, and everything turned out just fine before, right? There are lots of other choices, and the mining calculators show that profitability for ETC and RVN is still pretty good. What’s the big deal anyway? Miners will just mine something else. But our team has been following Ethereum development closely, and they are legitimately very close. I know we’ve all been hearing this for years. The beacon chain has been running for years. But despite the countless delays – we really are approaching the finish line. It’s practically a punchline at this point. Just like it has been for the past 4 years. Here we are in 2022, and the merge is still 3-6 months away. Will GPU mining end after the Merge (formerly called ETH 2.0)?
#Eth hash calculator gpu how to
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