The ETH2.0 Launch Countdown, Will ETC Become the New Favorite of Miners?
Amid rising speculation, the ETH 2.0, which has been proposed for several years, seems to be coming soon. It is said that ETH is likely to complete the official upgrade within this year, as soon as the middle of this year, from the PoW consensus mechanism to PoS.
In other words, millions of ETH mining machines are about to be “unemployed.”
If you have been paying attention to blockchain development, you must understand what ETH’s switch to PoS mechanism means for the mining industry today. Essentially, mining is the act of exchanging hashrate for crypto, while PoS is staking assets for crypto, and the two are completely different in nature. In the era of ETH 1.0, everyone pursues higher hashrate and lower energy supply to achieve higher mining efficiency, but all these would be meaningless shortly.
So here comes the question: where should miners go?
Money never falls asleep
Before discussing the way out for miners, let’s first make one thing clear: money would never be captured.
Generally, ETH is worth hundreds of billions of USD. To mine ETH, tens of billions of USD have been invested in large and small mining rigs around the globe, obtaining several times or even more than ten times the high return.
No power, incident, or means can break off such a chain of interests overnight, whether it is the government of a powerful country, a giant company, or ETH itself – even if the ETH upgrade is for a sustainable future. Miners and the funds behind miners will do nothing but save their investments and cover their losses, and this force is also worth tens of billions of USD.
This is certainly not to say that ETH will be abandoned by the blockchain world because of the upgrade. It is precisely because ETH has the status it has today, and the upgrade will have long-term benefits for the entire blockchain industry, that people have overcome many difficulties to get to where they are today since the wheel of history is always rolling forward.
But on the other hand, the price of the ETH revolution cannot be taken for granted by miners and other stakeholders unconditionally. If the ETH official does not offer a solution, at least the power of capital has the right and the ability to find a way out on its own.
Today, it seems that there are many such ways out, one of which could be ETC.
The opportunity for ETC
Maybe you have not paid due attention to ETC, maybe you have various reasons to prove that ETC will not benefit from the ETH upgrade, or even if the price of ETC rises, it would be difficult for miners to benefit from it.
But it is undeniable that ETC is a ready-made community with a market capitalization of tens of billions and close enough to that of ETH. Indeed, not all miners will immediately transfer all their hashrate to ETC, but even if only a small number of miners do so, it will be a huge impetus for the ETC community; the influx of hashrate will increase exponentially, and the 51% attack that ETC has experienced in the past will also be instantly resolved.
One Tweet from Musk can thrust Dogecoin and Shib into the global limelight, and now, the driving force behind ETC is much stronger.
In the blockchain world, there is always a torrent called speculation, and this force is often seen as positive for pushing the entire industry. It could even be argued that the rise of blockchain is the result of a mixture of speculation, hype, and pictures depicting a bright future. When the ETH upgrade threatens the interests of a great number of people and casts a shadow called uncertainty on the entire community, this speculative force will turn to those coins that can guarantee certainty and quickly undertake speculative demand. ETC becomes the lucky star this time.
Choice for miners
If it is high time to adjust the existing equipment portfolio or purchase new equipment to increase investment, how should miners choose?
Now that ETC is very likely to provide some new opportunities, the next question is on how to do things faster in this competition. As we all know, the mainstay of ETH mining is GPU machines, but their efficiency has been beaten by emerging miners. The situation did not change after the target became ETC. If you want to win the ETC mining competition, you should prepare more ASIC machines.
The power supply of ASIC machines for mining ETC is only 1/6 to 1/3 of that of GPU miners. After the ETH 2.0 is finished, if a large amount of ETH hashrate pours into ETC, resulting in a drastic drop in ETC revenue, the proportion of electricity costs generated by mining machines will increase significantly accordingly. At this time, whose mining machine is more power-efficient, the profit would be higher, and the most power-consuming GPU mining machine will face the dilemma of insufficient output to cover the electricity bill, and a large-scale downtime will inevitably occur.
From another point of view, the price of ETH is currently going up and down around $3,000, and it is difficult to double the price, while the price of ETC is only $30, which is 100 times lower than that of ETH. When the huge power of miners floods into the ETC community, who would know if these funds, which are involved with the power of desire, greed, and innovation, will bring 10 times to 20 times the price of ETC?
Take a look at the entire market, there are not many options for ETH ASIC miners today. According to the feedback from the community, it seems that the only YM series miners sold by a company named LOYALTECH are currently able to provide high-performance products and stable supply.
Their products were originally designed to mine ETH, but are also directly compatible with ETC mining, and the energy supply ratio is much lower than that of GPU machines (1/3 to 1/6).
As for their supply capability – it is said that as long as you make an order from them, all your concerns will be erased. Because their mining machine chips are manufactured based on a mature 40nm process, there would be no shortage of chip supply. Also, it is worth mentioning that they have applied a new chip architecture design to ensure first-class performance while ensuring supply capability.
In today’s global shortage of chips in 2022, stable supply is something rare to be found.
Should you make a move?
Hence the answer is pretty clear: ETC looks promising, at least it can help miners get through this period of uncertainty. Foresighted miners have started replacing their GPU mining machines with ASIC ETH mining machines a while ago, striving to protect their investment as much as possible before ETH 2.0 takes place.
And for ambitious investors, the prospect of ETC means new investment opportunities. The key to seizing this opportunity is high-performance and normally available mining machines, and LOYALTECH can be an option.
Indeed, it is universally acknowledged that any investment can be risky, and the risks in the blockchain world are especially common and often inexplicable.
But in the end, the people who can win the race for a brighter future must be warriors who can bravely face up to the risks. Naturally, they are also smart warriors who know how to make the most of opportunities and resources.
For many, ETC and LOYALTECH are the opportunities and resources for this time, aren’t you planning to make a move?
Ultimately, you’ll have to find the answer for yourself, but one thing is for sure, you should make the first step instead of letting the opportunity slip through your fingers.
Good luck, miners!
- Website: http://loyaltech.pro/index.html
- Twitter: https://twitter.com/LOYALTECH3
- Telegram: https://t.me/loyaltech
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