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Comment by dereg | Hacker News Reader

I’m really curious what the GPU miners are going to be doing with their cards. Today may be as big a moment for gamers as it is for ETH devs.

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Switch to a different currency that is still proof of work? I mean if you've got all the gear and just need to change was software is running and you get back to making money, wouldn't you?

Nothing else was as profitable (and ETH profitability had already dropped), and depending on your costs switching won't be worth it for many. Even for those who is the other mineable currencies are much smaller and will likely be oversaturated with just a fraction of the hashpower which was going into ETH.

The issue comes how can they make it profitable and realistically that is probably going to be a problem they solve rather quickly.

Overall daily profitability on a 3060 Ti is down from $1.56 pre-merge to $0.36 as of writing:

https://www.nicehash.com/profitability-calculator/nvidia-rtx...

Seems logical to just sell the GPU for $300 on the used market and get 833x its daily mining profitability.

I have a very very large GPU farm. We switched to ETC, for now. Why? Because it is the easiest one that doesn't require retuning everything. GPUs are like snowflakes and each one of my cards are tuned for hash/power/stability, individually. It is an insane amount of work to do this because the failure mode is that the card (and machine) crashes.

But, do you believe ETC has future? I think the current increase in ETC GPU mining is due to people trying to squeeze the last bits of money return of their farming investment until they could sell/repurpose (I mean non-crypto) their rigs.

I honestly don't believe ETC has any practical future value, and any increase in valuation these days will result in a bigger crash of ETC value in a few days/weeks as people get out of the GPU mining ecosystem.

ETH transitioning to PoS is a poison pill for all of the gpu mineable shitcoins out there.

Any gpu mineable coin will trend towards zero because they cannot support the irrational speculation any longer... unless they come up with some better use cases for usability.

There are enough home miners that either have free power and/or low capital opex requirements, such that any money earned is good money, even just a few dollars. This constant sell pressure on the market will always push things down.

They've been divesting heavily over the past few months. Prices cratered and high end cards have been going under MSRP for weeks.

Check out the hashrate for Ethereum Classic [0], it doubled overnight. Would be interesting to see if it's sustained.

[0]: https://www.coinwarz.com/mining/ethereum-classic/hashrate-ch...

How much do they get for transactions on ETC? Is it more than 0?

Now tripled as of this writing.

3x hash rate @ same $USD value == 1/3rd the rewards per hash

Time for AI!

Selling them?

Mine other coins.

Which ones? BTC is only mined on ASICs, other top coins are POS.

Even if they did nobody buys anything rn

Ethereum had about 80-90% of the whole hashrate of GPU mineable coins. The next biggest one was ETC with about 5% of the hashrate of Ethereum.

They can't go all to other coins. It won't be profitable.

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