Post
Topic
Board Mining (Altcoins)
Re: What will be the Fate of miners in 2022
by
majika
on 10/12/2021, 13:35:30 UTC
Hi,

2022 Will be the year of Digital Currencies/Stablecoin(s) and Institutional Investments => Q1 2022 This will be the year nation states begin their own adoption of "Crypto" & CBDC etc.

Furthermore:

There are many other projects which will require computational resources to power their chains AFTER or IF ETH switches to PoS. It may not happen until 2024 maybe!
Whether it be CPU/GPU/FPGA/ASIC there will be a demand. ETHASH is not the only algo's in town, currently one of the most profitable but not the only minable project.
That being said Hash has already started to drift away to other networks, You can see this on-chain.

Lets not forget The same vibes were being felt when ASIC's were made Publicly available for ETHASH..
The words around the camp fire were just like this thread.. What will this mean for GPU miners. etc.. The same what happened then will apply after ETH goes to PoS, Both will coexist!

GPU mining WILL be around for a long time IMHO. Maybe not on ETH but there are a Plethora of other chains crying out for good old quality GPU hashrate.

FYI. There is nothing stopping GPU miners from mining #Bitcoin over on 2Miners or selling raw hash over on NiceHash as example.
In my experience, not that its worth terribly much BUT if you have a resource that is in demand ON BOTH SIDES of the Equation you will have it Supplied/Balanced.
    (GPU Miners Offering the power / Project Offering the reward) <== Will almost certainly be the case./

My Second point is a bit more forward looking which involves taking a look at the direction of travel for methods of computation in the future and also how the inflow of outside investment besides the VC front will dictate (to a large extent) what will happen with crypto mining, and is as follows:
 
- Short of quantum computers becoming onstream / mainstream there is no real hurry/rush, There is progress on this front Alphabet and Canadian D-Wave plus I think GM all have their own Quantum machines. (Correct me if I am wrong) This will be a sizable shift in how networks are secured/considered secured. But I think we are talking years out here if indeed is feasible
 
- The true and very real threat to Cryptocurrency mining will be and IS coming from the ESG front, Especially, now we have the influx of Large institutions who's shareholders demand Greener/Sustainable investments. Meaning: PoW mining powered by coal fired power plants to run inefficient ASIC's/GPU's is unsustainable.. That is the narrative now which I expect will continue to expand as more larger players enter this scene soon, like now!

Main take away points is: Keep calm, Nothing to see here.. Move along and Carry on Mining..

--POW Miner to the end