Ethereum classic profitability

Earlier on Thursday, the Ethereum network switched from a proof-of-work PoW consensus algorithm to proof-of-stake PoS. This move, known as the Merge , was planned years in advance but faced many delays. Ergo also more than doubled, from UTC, according to mining pool 2Miners. The Merge put an end to the need of miners to keep up the network using thousands of computers. Miners who had invested in hardware to mine ether are now likely looking for other uses for their hardware, and PoW tokens like Ethereum Classic's ETC and Ravencoin's RVN are among the available options.

If the network difficulty is increasing quickly, this will greatly increase your break-even time. The diff change can be excluded from the calculation by toggling the "Use Diff Change" switch. Why is my break-even time 0 or never? If your break-even time is 0 you have likely forgotten to input your hardware cost below. If it is never, your break-even time has been calculated to be greater than 10 years. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future.

You could try lowering the diff change for a less agressive prediction or disable it altogether. Close Recurring Costs Help What is this? Recurring costs are fixed costs such as rent or internet. This value, along with power costs are subtracted from your revenue to give profit.

Higher recurring costs mean lower profits and a longer break-even time. Close Profitability Chart Help What is this? The profitability chart can help you visualize your long term mining projections. The chart can operate in one of three views: Total Profits The Total Profits view predicts what your overall profitability will be in the future.

This is calculated by taking your current profits and adding them to each following months profits while factoring in the changing difficulty diff change , the diff change factor can be disabled. This view assumes the price of the coin will stay the same. If you wish to account for a changing price ie if you think the price will rise in the future , switch to the "Coins Generated" view.

Coins Generated This view looks at the number of coins you can expect to generate in the future. This view does not account for any expenses, it simply predicts how many coins you will generate with your given hashrate and the diff change value. A high diff change will cause you to generate fewer coins in the future. Total Costs This view sums your power and recurring costs.

It can be used to predict the total cost to operate your mine over a given period of time. Close Price Change Help What is this? Price Change allows you to factor in the changing price of the currency into your projections. You can use this to generate accurate best-case and worst-case projections for your operation. Why does Price Change default to 0? It is impossible to predict what the price of any coin will be in the future, we leave the price predictions up to you.

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Video cards are getting cheaper, and the prospects are lacking. Over the past few weeks, cryptocurrencies have risen quite nicely. Opinions are divided on the reasons for what is happening, but many experts are inclined to believe that there is no fundamental reason for the growth of digital assets, and therefore the main driving force may be speculators and Whales.

If the first are trying to get rich quick by swaying the market, the big fish are playing for the long haul. In the first half of the year, holders of large fortunes in Bitcoin increased their savings, but more recently their wallets have begun to deplete. It should be understood that there is no exact data on this since such manipulations take place behind closed doors.

But back to our miners. Many miners are afraid that after the transition of Ethereum to PoS they will have to sell their video cards at low prices. The market will collapse, and even at the current rather high prices of the cryptocurrency, it will be quite difficult to quickly recoup investments. Ethereum Classic surpassed Ethereum in profitability Many are hoping for an alternative token that can replace Ethereum and receive the giant batch of miners.

Until recently, there were several options, but none of them were capable of equaling Ethereum in terms of yield. But by all appearances, we have a worthy competitor. Pay attention to the chart above. Another important point in this comparison, which may lead to a collapse in profitability, is that ETC still does not receive the majority of Ethereum hash.

What other networks will receive the outgoing hash of Ethereum? While Ethereum Classic can receive all of the hashes issued by Ethereum, This scenario is unlikely to happen, because miners will make almost no profitWithout adding electricity consumption costs. Migrant Ethereum miners will be divided into two large groups, those with graphics cards GPUs and those with a greater range of options to choose from, thanks to the flexibility that GPU mining has, and ASICs. The latter will be more limited, because ASICs are built according to the mining algorithm.

In the case of Ethereum, which uses Ethash, it is compatible with Ethereum Classic. List of supported cryptocurrencies for GPU mining. Source: WhatToMine.