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Emperor_Penguin
Nov 14, 2017 11:43 PM

ETH Miners will move to Monero and other GPU coins  Long

Monero / US DollarPoloniex

Description

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.
Comments
HarveyWallbanger
Thanks for your thoughts in the comments. I'm gonna read up about it. Monero having a strong day today. I have added to my position
Arvin_Darred
I feel that while this is a logical prediction, there are too many variables at play for this to be a safe trade. One thing in particular is that if there is a ETH rally, which is appears its poised to do, then the analysts predictions are not completely accurate. (as per the article). So definitely something to keep a closer eye on, and watch. But i wouldn't put in the trade quite yet.

Hopefully this pans out in the future and we see another to the moon rally.
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