Challenge and opportunities of Ethereum move from PoW to PoS

f2f.mirrors

copper member

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Quote from: adaseb on December 17, 2019, 11:16:54 PM

Quote from: f2f.mirrors on December 17, 2019, 03:30:58 AM

Believe market!There must be a GPU friendly project that is getting a lot of attention.
Like what happened to LTC to ETH.

LTC? That hasn't been GPU mineable for years. Its actually one of my first coins that I mined ever. I started mining it back in late 2013 when people were going crazy over bitcoin and crypto and I started mining it with my old Radeon 7850 (R9 270X) GPUs.

Profits were actually pretty crazy back then. I bought more second hand Radeon 7970 ( R9 280X) and I made at least $5/day/GPU for like 2-3 months or so. Then in Q2 2014 it started to get unprofitable but not as bad as it is today. One reason why it was unprofitable was due to LTC Scrypt ASICs.

They were released in 2014 and pretty much nothing for GPUs to mine until ETH was launched in late 2015. So ASIC pretty much killed GPUs back in 2014, just like ASICs killed GPU mining back in 2012.

Hardcore miner!
As you said the event. I think a big factor in the success of ETH is that a lot of GPU have no target at that time.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: f2f.mirrors on December 17, 2019, 03:30:58 AM

Believe market!There must be a GPU friendly project that is getting a lot of attention.
Like what happened to LTC to ETH.

LTC? That hasn't been GPU mineable for years. Its actually one of my first coins that I mined ever. I started mining it back in late 2013 when people were going crazy over bitcoin and crypto and I started mining it with my old Radeon 7850 (R9 270X) GPUs.

Profits were actually pretty crazy back then. I bought more second hand Radeon 7970 ( R9 280X) and I made at least $5/day/GPU for like 2-3 months or so. Then in Q2 2014 it started to get unprofitable but not as bad as it is today. One reason why it was unprofitable was due to LTC Scrypt ASICs.

They were released in 2014 and pretty much nothing for GPUs to mine until ETH was launched in late 2015. So ASIC pretty much killed GPUs back in 2014, just like ASICs killed GPU mining back in 2012.

f2f.mirrors

copper member

Activity: 41

Merit: 0

Believe market!There must be a GPU friendly project that is getting a lot of attention.
Like what happened to LTC to ETH.

badbart

member

Activity: 449

Merit: 24

Quote from: adaseb on December 16, 2019, 11:08:56 PM

Quote from: badbart on December 16, 2019, 08:26:41 AM

Unless we have a big bull run, most 400 series and 500 series AMD will be idle, sold or trashed. Right now its not worth mining anything else. My cards have been ruining for almost 3 years and i plan on them being worthless, when if ever eth goes POS.

Consider yourself one of the lucky ones then because the RX 470/570 were pretty cheap cards to begin with and you got great hash and great power consumption. So if you were mining in Late 2017...Early 2018 you probably ROI it multiple times.

The people that got it rough are the ones who got in the game in Q2 2018 and ended up paying an inflated price of $1000 for a 1080Ti GTX. Sure its Nvidia gamers love it but there is no way they could ROI on that GPU even if they sold it second hand.

Most likely if the fans are still good, just sell it in pairs and some gamer will buy them and Crossfire them. As long as the price is right they should sell. Most of the computers parts will sell except maybe the mining frames and risers which will definately be useless.

I just turned off my AMD 400 and 500 series cards with .075 cent kwh electricity its not profitable. After the block time is reset in early January i'll look at selling if not profitable.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: badbart on December 16, 2019, 08:26:41 AM

Unless we have a big bull run, most 400 series and 500 series AMD will be idle, sold or trashed. Right now its not worth mining anything else. My cards have been ruining for almost 3 years and i plan on them being worthless, when if ever eth goes POS.

Consider yourself one of the lucky ones then because the RX 470/570 were pretty cheap cards to begin with and you got great hash and great power consumption. So if you were mining in Late 2017...Early 2018 you probably ROI it multiple times.

The people that got it rough are the ones who got in the game in Q2 2018 and ended up paying an inflated price of $1000 for a 1080Ti GTX. Sure its Nvidia gamers love it but there is no way they could ROI on that GPU even if they sold it second hand.

Most likely if the fans are still good, just sell it in pairs and some gamer will buy them and Crossfire them. As long as the price is right they should sell. Most of the computers parts will sell except maybe the mining frames and risers which will definately be useless.

badbart

member

Activity: 449

Merit: 24

Quote from: NurSie on December 16, 2019, 09:16:35 PM

Quote from: badbart on December 16, 2019, 08:26:41 AM

Unless we have a big bull run, most 400 series and 500 series AMD will be idle, sold or trashed. Right now its not worth mining anything else. My cards have been ruining for almost 3 years and i plan on them being worthless, when if ever eth goes POS.

not sure about it. The coin called BFC I discovered recently use a completely new model, mortgage their coin first before mining or you get only 30%. It seems pretty scary especially this industry full of scams. But the mortgage model gives this coin so much energy, eg, you don't need to minging, you could rent your coins to get profit. Its price trend also different from all other major coins as its price keep bull recently. Also, its low budget minging communities are complaining about the bull price lol, as the could not invest more and higher prices actually harm their revenue.

I don't see an exchange for that coin?

NurSie

newbie

Activity: 74

Merit: 0

Quote from: badbart on December 16, 2019, 08:26:41 AM

Unless we have a big bull run, most 400 series and 500 series AMD will be idle, sold or trashed. Right now its not worth mining anything else. My cards have been ruining for almost 3 years and i plan on them being worthless, when if ever eth goes POS.

not sure about it. The coin called BFC I discovered recently use a completely new model, mortgage their coin first before mining or you get only 30%. It seems pretty scary especially this industry full of scams. But the mortgage model gives this coin so much energy, eg, you don't need to minging, you could rent your coins to get profit. Its price trend also different from all other major coins as its price keep bull recently. Also, its low budget minging communities are complaining about the bull price lol, as the could not invest more and higher prices actually harm their revenue.

badbart

member

Activity: 449

Merit: 24

Unless we have a big bull run, most 400 series and 500 series AMD will be idle, sold or trashed. Right now its not worth mining anything else. My cards have been ruining for almost 3 years and i plan on them being worthless, when if ever eth goes POS.

black1ight

jr. member

Activity: 44

Merit: 1

My guess is that a lot of the hashrate should move to privacy centric coins.

NurSie

newbie

Activity: 74

Merit: 0

To get scalability， Ethereum is set to move from its current Proof-of-Work consensus protocol to Proof-of-Stake. This transition is part of its natural evolution and Ethereum developers are adamant that it will happen at some point.
This would not be an easy move for both ETH as its mining pool accounts for a quarter of the PoW globally.
Also, there would be a lot of graphics card miners are idle. which coin would replace ETH's position in PoW world would be a big chance.
any recommendation?

Topic: Challenge and opportunities of Ethereum move from PoW to PoS (Read 250 times)