Will ethereum be profitable anytime in the future?

350 viewsGeneral Discussions

Will ethereum be profitable anytime in the future?

With change in algorithm and rising electricity bills can mining ethereum be profitable again in the future?

Ruban Lovelace Answered question May 27, 2024
0

The new algo is POS, where one doesn’t have to worry about the rising electricity bills like it was with POW, but I doubt if staking will be as profitable as mining was via the POW algorithm. Remember, one of the reasons ETH mining was lucrative was because of the very high gas fees.

Ruban Lovelace Answered question May 27, 2024
0

You can’t mine it anymore. But asking if it’s profitable, I would like to say yes. It’s still the 2nd top altcoin in the market and that’s why it’s highly profitable in the future.
Don’t forget about the upgrade that has been made to it has certainly improved a lot through the Ethereum London upgrade. And one of its features was a burning mechanism for each of the transactions that we make, a fee or portion of Ethereum from there is burned currently.

Ruban Lovelace Answered question May 27, 2024
0

Ethereum is already not available for mining after they change there algorithm to PoS. You can only earn Ethereum through staking or become a validator. There is no answer to your question but if you are assuming that ETH will goes back to PoW in the future then the answer is yes because miners will keep coming on ETH since it’s the second largest blockchain in crypto space next to Bitcoin. The future of this token is guaranteed success. Everyone is watching this coin so this tcoin will be profitable as always.

Luwis K Answered question May 27, 2024
0