Many people start mining or have already begun mining cryptocurrency many years ago. As we all know cryptocurrency mining don’t limited to Ethereum or Bitcoin alone. With hundreds of other cryptocurrencies built around proof of work.
You can still mine Bitcoin, but the increase in difficulty has made it less profitable. You will need a huge mining center to get the best profit. Today is easier for people to start mining Ethereum, which can be minnig using video cards. A person can easily build 6 GPU mining rigs and instantly start mining Ethereum or any other cryptocurrency.
We’re talking about Ethereum because those currently the most profitable cryptocurrency that can be mine with GPUs. Ethereum announced that they will slowly move towards Ethereum 2.0 to introduce proof of stake. Thus, people will not be able to mine Ethereum, but can only put it on the map.
But should cryptocurrency miners worry about Ethereum 2.0?
I think not; you can still mine other cryptocurrencies that will still be profitable. One way or another, miners will start mining other cryptocurrencies and may create a buzz around them.
What cryptocurrencies other than Ethereum should you mine?
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The alternative cryptocurrencies you can mine are Raven Coin (RVN). RVN is currently skyrocketing in value. In a week, it has grown by almost 500%. This could be the next coin you can start mining. Give the growth and acceptance of the coin gaining. it could be the next best coin compare to mine.
You directly start RVN mining or Ethereum mining; it is currently beneficial. Convert mined ETH to RVN for longer time retention. RVN uses KawPow as its mining algorithm. Like Ethash, it is prevents miners from using ASICs and can only be mine from a GPU or CPU. CPU mining today is not sustainable with any of the cryptocurrencies.
It won’t just be RVN, but you can check the beam, Conflux, eternity for mining.
Cardano’s price has rebounded substantially since it hit a $ 1 low. The return above the $ 1.85 level gives ADA buyers and long-term investors significant psychological support that the Cardano token could rise higher again in 2022.
The ADA is facing short-term resistance at the 38.2% Fibonacci retracement levels at $ 2.47 and $ 2.31. It will need to close above these levels to prevent any short-term selling continuation. Ideally, there would be enough momentum to close above $ 2.91, but this may not be possible.
After a sudden collapse in September, ADA saw an unfortunate transition from a bull market to a bear market. This does not necessarily mean ADA is entering a bear market, but the momentum Cardano has enjoyed has diminished so much that investors have become nervous.
However, there are some signs to justify a bullish outlook for Cardano’s directional movement indicators. First there are many bullish divergences between the candlestick chart and the composite index, indicating that a bullish ADA price is being forecast during development.
TradingBeast hints that the ADA price is stuck and is slowly moving towards an inflection point at $ 1.30, where a break of this obstacle will trigger a massive uptrend. Cardano’s January – February price prediction shows that prices are close to breaking the critical barriers for the $ 1.64 test.
Cardano’s long-term price prediction for 2025 suggests the ADA could prepare for a comeback since the correction began, reaffirming support at $ 1.29 by January 2022. The recession has stopped this level if the January-February price forecast for Cardano is confirmed.
ETH 2.0 may not come before they have to make a complete transition from proof of work to proof of stake. It will be the most anticipated and most technologically advanced blockchain advancement that Ethereum has ever achieved.
If you already have a mining rig and are looking for an alternative profitable mining coin. Check out WhatToMine where you can check the hash rate and profitable coins you can mine.
Even if you decide to stop mining after the implementation of ETH 2.0, you will already be in profit. You can also sell all GPUs at the same price as you brought. This is due to the lack of GPUs and high demand from gamers.