Topic: Buying new GPUs now and future as ETH POS is on horizon (Read 464 times)

The bear market may not come if some of the projects are used in the real sector.
If you invest in equipment, then its price cannot drop 85% in a week.
The most important thing is to buy mining equipment at good prices, and not to overpay to dealers.
The most profitable mining was in 2019 for those miners who did not sell their coins cheaply.

Yeah, with the uncertainty of ETH POS incoming in very close and the overprice of GPUs, no way anyone would size up their GPU mining farm. Also, there is always the panic phase when something new got introduced so I'm willing to bet ETH POS will make the GPU market goes down for a time before stabilize by branching out to other crypto's algo.

The last few months are the time to sell your used GPUs, I've sold a couple of my old RX cards with the price near MSRP at the time I bought the card. And now I'm waiting for the price of GPU to go down to buy a couple of new cards. Buying GPU now for mining means GPU sellers will charge you an insane amount of money, and the ETH price is already high = more risk.

ETH POS so what? There will be many alts with different algorithm to mine on. Just wait for the time to pump while stocking cheap high-end GPU is better IMO.

That is how it is done.I was mining in 2018 and we were making like 90 USD a month in Bitcoin as we mined through Nicehash back then and paid 220 USD energy monthly.I got pressure from my friend to turn off the rigs but I insisted in the long term we are going to be winners.We made near 1 Bitcoin so we really re invested about 10.000 USD in a good powerful mining rig with new cards and also we are using the old ones still.We are only in profit from mining and whoever tells me mining is not profitable I look at them surprised at what are these guys saying.You only have to be patient,even mine at a loss for sometime and in the end you will come out victorious,at least this has been my experience so far.

For sure mining is a good business. Im in it for 3 years and made roghtly 100.000 usd. With these new cards you can make a lot of profit.

I mine with GPU Rx580 8g. It gives me abouts 30m/h each card. I will sell my cards very soon and changed for new ones.

One advise is MINE FOR THE FUTURE, I mean that if you can get your Energy bills covered, just keep your mining! I was mining when ETH got 200 usd now its 3000. So I waited to swap my coins.

Good luck

John Law's scarcity theory of value determines the mining profit now on POW for all coins and will remain the primary mechanism of the mind for crypto mining when Eth goes to POS simply because people will still mine with GPU's if there are POW coins to mine at profit and that activity gives value to scarcity even when there are none capped coins and pre mined junk. I am saying this is a feedback loop that only a denial of internet, electricity or HW will thwart and that is the game theory based upon the human psyche but even then if scarcity rises so does value so loss of electric, internet has to be universal ie global same as all POW coins going POS or dying overnight in sync. possible yeah, likely not so much... The sun has a greater chance over POS of interrupting the feedback loop if it spits out a Carrington like event.

Let's assume that ETH 2.0 is here and there is no PoW algorithm anymore on ETH what will miners be mining right now? I have LHR cards and yes ravencoin is the best option for them, this doesn't mean that many miners will quit, the difference here is bull market is still very much alive so whatever coin you choose to mine will still be profitable

sure eth you will be able to mine maximum until the end of 2022 when presumably eth 2.0 will arrive but then you will be able to profitably mine some other coin such as raven for example if you find latest generation cards at reasonable prices and want to try to mine then buy them, there will always be something to mine, even if some cards are lhr now there are programs to mine that partially unlock them

Investing money on GPUs is just like investing money on top altcoins in the market, if bear market as present all those big altcoins will lose value big time and their sight may ridicule you but you don't actually lose until you sell them off, as for mining the difference isn't much just keep mining and hold, crypto market is seasonal

As others have said if you can afford to lose your capital investment then crack on (you wont unless somebody burgles ya or fire) and if you dont mind mining for a time at low or zero profit or even loss also crack on....

In the bottom of the dip during summer of 2019 my heckles told me to go and buy 4 x RVII and i did just that, in hindsight it wasnt enough lol but such is the nature of greed.

For a year i mined at cost then boom the bulls arrived and Eth went $200 >>> $4k+  Good fortune favours the brave. A small amount of those profits have just bought what i call a 4th Gen rig which is 6 x RX6800 + new mobo, cpu, RAM and a rather nice Nvme ssd which is the best thing ever as speeds installations and compilations/removal of drivers super fast with its amazing speeds plus booting in ten seconds is crazy to me. 256Gb WD blue since you asked lol.

TBH im thinking of building a second rig now but might wait till after xmas to see how new GPU's coming affect things including the Intel offering and ofcourse the POS switch for ETH but ETC is there and i predict it will be jumped on so already mined a little stashio as you do and there are plenty of other shtcoins to GPU mine there awlays will be such is the nature of the beast. However at heart I am a BTC maximalist and crave decentralized everything so this is just a hobby whilst i wait for BTC to buy me a mansion for retirement.

I would be more worried about bear market than ETH 2.0 which may never happened for another whole year, if bear market comes and mining isn't a worry for you then I don't see any reason why you holding back, ETH 2.0 isn't coming any time sooner stop wasting your time

True, the market is far more healthier than past years today and this bull season will last very long as far as adoption rate is going this days, the only risks involved when mining is longer ROI, you won't lose money but money will come in very slow, that's all unless your electricity bill is way higher, why wait if your electricity bill is lower

It’s not only you. There are many people who going back to 2016 were faced with this dilemma. I also got a few friends who are upset with me because I told them that ETH might be unmineable in the future and your GPUs won’t be able to mine ETH then it kept making ATH after ATH and they are upset.

The issue here is more with the unpredictable schedule of the ETH Dev foundation. You would think as the coin got more and more popular they would hire more devs to get the work done sooner, however it seems the opposite has happened. So nobody knows even Vitalik himself when ETH will go pure POS.

Years ago I had some money enough to build me 5 rigs with 6x rx580 8gb in them but the news about the upcoming ETH PoS make me changed my mind and till date nothing happened, I was so mad at myself later on cos two of my friends took the risk and they are happy they did, don't take ETH Devs too serious mate cos this PoW algorithm might be here for another whole year.

You are mistaken, the RTX 3060 video card does not exist without LHR.
Miners learned how to hack the very first models, because they used PCI-e 16x, and drivers for developers version 470.05. If you want to buy more than 2 video cards, then you will need a special motherboard and raiser 16x.

I think with 100 dollars more you can get the Rx 6800 or Rx 6800 XT cards which both perform much better than the Nvidia 3060 even if it is non LHR it means max will do 49 Mhsh compared to 61 Mhsh for the Rx 6800 and 64 Mhsh for the Rx 6800 Xt cards respectively.Just don't rush and the perfect opportunity will come to you.

Yes, there will be always other coin to mine but definitely its risky to make new purchases but on the other hand, as many pointed out, one should invest only amount that he can spare to loose.  I will do some more research before making actual purchase as I am seeing few more choices, I can also get non-LHR 3060 12 GB (but very costly, around 1300 USD).

Hashrate will always go up when price is flat or going upwards. Even if price goes down the hashrate can still stay the same or go up. Look at Bitcoin for reference.

If you see all the cycles since the beginning you will learn that even in a bear market the hashrate always recovers. This is due to more people learning about mining and more advanced GPUs and ASICS being developed.

So the hashrate shouldn’t be a surprise. It will always keep going upwards.

ETH hasrate now is much higher than used to be in april. we are less price now eth (3k used to be 4k) but hashrate is higher. Should we miners worry about it?

Free el.power...It is only free if you steal it.If you have sollar panels it is not free,you have roi of investment in it,or you can sell it to elec.comp.If you sell it the profit will be higher compared to mining in the future if eth goes to POS,and that is end of the game.