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When “The Merge” occurs, we will witness massive amounts of hashpower leaving the Ethereum network and joining several altcoin networks. These networks’ hashrates are significantly lower than those of Ethereum, which means they won’t be able to support all miners at the current levels of rentability.
Will Ethereum Mining Pools Survive The Merge — What About the Miners?
It is anticipated that the main components’ rentability will vary greatly, therefore be extremely competitive between projects. At one point in the day, miners might make more money mining Ravencoin, while in the following hour, Ergo or Flux might be more profitable.
Being a “regular miner” in such a story is difficult. You must constantly keep an eye on market changes, adjust your pool, swap out some pieces, and have a few head slaps. Here is where NiceHash Miner really shines!
The graph above illustrates how frequently an ideal RTX 3050 transitions to a more profitable algorithm over the course of a 24-hour period. Each vertical line represents an algorithm commutator.
Each of your GPUs is evaluated by NiceHash Miner, which switches automatically to the method that is most profitable for your devices. You have nothing to do! Whatever algorithm you use to mine with, you will always be paid in Bitcoin. This will be really good because you won’t have to feel guilty about carrying many wallets or holding or exchanging multiple pieces. This will save you a ton of time and money on transaction and exchange fees!
The Pool Reward Plan is Essential!
The other benefit of mining at NiceHash is that you can reach the minimum payment amount much more quickly than you can on other pools, especially if you exchange coins frequently. In actuality, pool-switch systems like PPLNS penalize the practice of often switching pools.
Only miners that submitted valid work on the most recent N number of shares are rewarded via Pay Per Last N Shares. The pool determines the N number of shares, and the older shares will be removed from the waiting list as soon as new, valid ones are submitted by the miners. You won’t receive any compensation if your submitted shares no longer count toward this waiting list of N shares.
However, NiceHash uses a Pay Per Share (PPS) reward system, paying miners for each accepted portion! It doesn’t matter if you stop mining or start using a different algorithm.
Possible Issues
Due to this, you must wait until the very last second to mine ETH on a PPLNS pool. The shares will still be on the waiting list when a miner leaves the pool, but the miner won’t actually get paid until the pool finds a block and those shares are still waiting. Evidently, the pool won’t be able to find any new blocks when ETH is converted to a PoS, which means that miners won’t receive full payment for any shares that were still in the queue at the time The Merge occurred.
We advise moving your miners to NiceHash at least one day before “The Merge,” while each pool has its own size of the waiting list, and the number of miners submitting shares also has an effect on how long your shares are held in limbo. If you switch to NiceHash, you’ll be prepared to switch to a different algorithm using NiceHash Miner, and you’ll be able to continue mining on DaggerHashimoto (Ethash) up until the very last second. ETH is a coin that you can mine.
The Frequency of Payments
It will take you a lot longer if you alternate between pools frequently to reach the required minimum payment for one of them. This means that you have a fixed amount of money that is blocked and that you could potentially lose value as the markets fluctuate. Aside from the required minimum payment, pools typically block your funds for many hours (and occasionally days), and when blocks are discovered, they are confirmed, further delaying your access to coins.
Being paid in Bitcoin and converting it to their preferred cryptocurrency will be a lot less work and more stable for miners. With NiceHash, you can receive payment every four hours, giving you the best possible control over your funds, and then trade with NiceX (in the countries covered) without having to pay any transaction fees.
Conclusion
Using NiceHash and its automatic algorithm update will be the best choice for miners to get profitable results after Ethereum. This makes sure that miners are always using the most profitable algorithm.
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