Anyone Mining ETH? What do you do after the merge?

General Chia Discussion
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The chart looks about exactly the same for Raven.

Thats the problem miners flowing to the other coins massively but the prices dont adjust accordingly.

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Update after 1 full week of mining on Nicehash post Merge;

Revenues are 19% of what they were prior to The Merge. There has been some localised variation and some periods with higher profitability, but 19% is the overall result for the past 7 full days.

This is with;

6x 3060Ti
2x 3060
3x RX5700
6x RX6600XT

Interestingly, my CPU mining on the following (not on Nicehash) has produced a lot more revenue and profit than the above GPUs!

7x Ryzen 7 3700X
3x i7-10700KF

Nearly 11x as much to be more precise!

23

Why would the price adjust at all, more miners doesnt make a coin more usefull, just more secure from attack.

1 Like
24

Historically, increased difficulty was a direct result of increased popularity/adoption, hence increased value of underlying coin.

But not always, and not in this short a space of time.

25

should be the other way around:

Increased popularity leds to increased prices.
Increased prices lead to higher mining profitability.
Higher mining profitability leads to more miners.
More miners leads to equalisation of profitability.

Now we do not have increased popularity bu the miners get more (or rather switch over)
Thus dumping profits. It may eventually equal out when more miners have to quit or alternatively if these coins get more attention from devs. (likely not gonna happen)
→ which is why I like chia. Devs seem active (for now) 1.6 just released.

2 Likes
26

Same outcome regardless.

What’s going to be interesting is just how much of this massive amount of hashrate is going to stay on these other chains. What is there right now may not stay there for long, in most places on earth it is simply unprofitable and they’re not going to just mine for the hell of it.

2 Likes
27

But what is happening is not a result of the coins in question being more popular or more useful. There is just a ton of hashing power looking for a place to make money. Where they end up (most likely temporarily) will not (should not) affect the price of the coin.

2 Likes
28

We added Zil. Since Zil basically pays slightly more per minute than ETH pre-merge it pays quite a bit per minute compared to other coins post-merge.
Its like a 33% boost ontop of ETC right now…so basically that 1 minute Zil window=20 minutes of ETC mining.
And the way we added it with Bzminer allows people to do RVN+Zil, Ergo+Zil, Flux+Zil or even triple mine Kaspa (As long as your miner supports it).

29

Can you provide examples of revenue by method and card. I have some 3090 which are idle atm.

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Anyone who bought 3090’s to mine with doesn’t know what they’re doing. Either that or they have money to piss away and want to lead by showing what not to do. Look at the discount on new 3090, meaning if you made $1K in mining, that might have covered the inflationary price of the GPU which would have been bought during the bull run. The least power efficient, hottest running GPU for mining ETH. RTX 3090. I hope your Chia strategies don’t come from the same mindset. Either that or beware of advice.

31

Hard to say as every coins diff is variable day by day. We have stats for our coins on our website based on past profits.