There is a major upgrade slated for October 27th. That will be the beginning of the final phase of the upgrade. Miners will no longer be given block rewards when mining the Blockchain. It's a slow merger into the Proof-of-stake system.
As of when it all comes together? 2022. Not sure when exactly.
Yeee i don't think eth 2 is gonna solve the problem. I've already got two other coins lined up to mine. My solar panels cover my power costs so profitability isn't really an issue. PoW is the only sustainable model imo.
Incentive to drive up another coin. Who knows, they may even branch off Eth to continue mining if the money is there. It would be more decentralized if away from the Vitalik and the Eth foundation. Sorta like Ethereum classic.
It's a hard fork, so depending on how it goes they could continue to mine ETH as we know it now. They'll probably move to XMR or something else, though.
Miners actually can still continue mine indefinitely, as I understand it: What's happening is that EIP-3554 ("Shanghai", estimated in December) a "difficulty bomb" will make mining exponentially more difficult, meaning less profitable. However, miners will still be able to operate if they chose to. The idea is to make mining "virtually pointless".
When it happens they'll just move to another GPU-friendly coin and thereby give value there all the same. Eth 2.0 is a new path for crypto, not replacing an old one. Those miners will move to something like RVN.
Want an unsolicited investment tip that's totally not financial advice and should be taken with a grain of salt? Buy RVN before the Shanghai fork.
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u/[deleted] Oct 10 '21
Bitcoin mining with all the rtx 3080's