Topic: ETH mining nearing end of life - When will you liquidate your rigs? - page 2. (Read 585 times)

Ethereum Network Hashrate is currently: 955 TH/s
Etherecum Classic Network Hashrate is currently: 27 TH/s

Currently with 30MH/s you make $1 per GPU per day with ETC. Prior to any power costs.

If all the 955 TH/s switches to ETC, then the hashrate will become ~ 982 TH/s. Which means the difficulty will go up 36x. So basically the profits go down 36 times.

So $1 per day becomes $0.027 per day before any power costs.

Now lets assume that only half the hashrate are GPUs since the ETH ASICs cannot mine ETC. So 955/2=477TH/s. So ETC Network hashrate will become 504TH/s.

So basically instead of $0.027 per day it will be $0.053 per day. You basically need $0.015 kwh power to make nothing. Nobody except maybe in Iraq got 1 cent power.

it may evolve in to a distributed, decentralized network of on-demand computing power such as with the Golem Project and Render coin.

Also the gpu price manipulation in china will decrease a lot as Intel gets into the gpu market because Intel knows there is profit to be made here, nvidia and amd have been monopolizing the gpu market for sometime. People need to understand no companies are here to make you happy ehhe

Ethereum Network Hashrate is currently: 955 TH/s
Etherecum Classic Network Hashrate is currently: 27 TH/s

Currently with 30MH/s you make $1 per GPU per day with ETC. Prior to any power costs.

If all the 955 TH/s switches to ETC, then the hashrate will become ~ 982 TH/s. Which means the difficulty will go up 36x. So basically the profits go down 36 times.

So $1 per day becomes $0.027 per day before any power costs.

Now lets assume that only half the hashrate are GPUs since the ETH ASICs cannot mine ETC. So 955/2=477TH/s. So ETC Network hashrate will become 504TH/s.

So basically instead of $0.027 per day it will be $0.053 per day. You basically need $0.015 kwh power to make nothing. Nobody except maybe in Iraq got 1 cent power.

Ethereum Network Hashrate is currently: 955 TH/s
Etherecum Classic Network Hashrate is currently: 27 TH/s

Currently with 30MH/s you make $1 per GPU per day with ETC. Prior to any power costs.

If all the 955 TH/s switches to ETC, then the hashrate will become ~ 982 TH/s. Which means the difficulty will go up 36x. So basically the profits go down 36 times.

So $1 per day becomes $0.027 per day before any power costs.

Now lets assume that only half the hashrate are GPUs since the ETH ASICs cannot mine ETC. So 955/2=477TH/s. So ETC Network hashrate will become 504TH/s.

So basically instead of $0.027 per day it will be $0.053 per day. You basically need $0.015 kwh power to make nothing. Nobody except maybe in Iraq got 1 cent power.

95% of the ethereum network is owned by the miners.
Moving to POS is a smart move, but not a profitable move.

... If anything, you may see an explosion in price of a coin like Ravencoin to enable the market to move on to the next thing...

No idea why you are thinking that.
Looking at whattomine.com there are still 6+ coins that are close to ETH mining profits.
And another 15 or so that will still generate some good money.
At a guess those will get crushed, but some others will probably come back up.
Monero and similar are my guess.

Not going to worry about it.

FYI there are dozens of similar posts about this very thing if you want to search a bit.

-Dave

Why would I liquidate my farm when everything has been paid off just because ETH is rumored to be going Consensus layer this June/July? What makes you think if a big bug was found that they'll launch it in three months? lol

Why would I liquidate my farm when everything has been paid off just because ETH is rumoured to be going Consensus layer this June/July? What makes you think if a big bug was found that they'll launch it in three months? lol

This will be a non issue for me.

I burn 150 cards under 30 kwatt total.

so 30 x 24 = 720 kwatts a day that is 36 dollars in power a day. At a nickel a kwatt

or 36 x 365 = 13000+ cash for the next year.

All my cards are paid off.

and I have over 22000 in cash waiting for this issue to happen.

So my cards are covered for more than 18 months even if they just burn power and earn zero.

Any miner worth his salt should be ready for this to happen.

Btw The real question is what will AMD and Nvidia do if the turnover happens.

No one will buy cards from them for like a year straight.

BTW Good luck to all but I see at least a delay to Oct or Nov.

So listening and reading in on all the dev comments. It seems that unless there is some major bug discovered last minute, it seems the merge will happen in June 2022. Maybe July 2022.

The merge means finally end of POW mining for ETH and quite possibly for most GPUs out there in existence. GPU mining might be a thing of the past.

Everybody is saying. Oh there are other coins to mine. However they don’t realize that most of the mineable GPU coins out there, the miner reward is nowhere near that of ETH. And ETH mining was not only profitable due to its block reward, it was profitable most of the time due to its transaction fees. No other coin out there generated as much miner transaction fees as ETH.

I can see this being the end of the road for most GPUs in terms of mining. Most GPUs will go live a second life as a gamer or rendering GPU, not mining. Maybe 1-2% will go on and continue to mine ETC.

It’s great if you are a ETH holder. The merge will lower the issuance rate and increase the staking rate. So it’s good for ETH long term price.

So question is when will you start to sell your GPUs?

1) If you sell too early and the merge is delayed you might lose out on some profits.

2) If you sell a month before a confirmed block number is confirmed, you will miss out on one or two months profits but you will get top dollar for your gear.

3) If you wait until the block number is released or sell until the last block is mined you are going to compete with many other miners out there who are listing their GPUs on eBay, Kijiji, Facebook marketplace, Amazon, etc.