this post was submitted on 02 May 2024
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Ethereum mining.
I finally got a decent GPU in the beginning of 2022 and set up a basic rig. In September of that year Ethereum switched to the "proof of stake" model, rendering mining useless. I managed to maybe get a total of $200 worth of Eth in that time, and that was that. Taking into account the cost of electricity, my profit was around $100.
I still mine Ergo. It's a PoW smart contract platform (like Ethereum) but it's UTXO like (Bitcoin or Monero).
Lots to like about the chain. I turn some of my mined ERG into SigUSD (algorithmic stablecoin) and then loan it to a lending pool. Currently make 94%APR in USD that way. Been like that for several months.
With my track record, the moment I start mining again is when they fold.