ETH Miners will move to Monero and other GPU coins
coindesk.com/morgan-stanley-predicts-2018-plunge-in-gpu-mining-sales/
Ethereum plans to upgrade its proof of work dramatically lowering the profits for GPU miners. I feel that much of Ethereums strength came from its well distributed mining algo and now we will see a huge movement not only of hashpower but also funds to other GPU minable coins. Remember the key to Crypto is Hashpower, Crypto cannot be separated from proof of work. PoW is what makes Coin=Energy, that is what makes it fair and distributed.
I therefore feel very uncertain and Bearish about Ethereum and its outlook and Bullish for other ASIC resistant coins such as Monero.
Ethereum plans to upgrade its proof of work dramatically lowering the profits for GPU miners. I feel that much of Ethereums strength came from its well distributed mining algo and now we will see a huge movement not only of hashpower but also funds to other GPU minable coins. Remember the key to Crypto is Hashpower, Crypto cannot be separated from proof of work. PoW is what makes Coin=Energy, that is what makes it fair and distributed.
I therefore feel very uncertain and Bearish about Ethereum and its outlook and Bullish for other ASIC resistant coins such as Monero.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.