Topic: ETH network hashrate going to the moon!!!! - page 3. (Read 11060 times)

Good call here. I added a lot of gear in the July to October timeline.

Ofcourse it is a madness when used Radeon VII is going for $1400 on eBay. I am so tempted to sell but not sure if selling graphics card on eBay for 1500 is a good idea. Specially with 15% cut to eBay and then 30% for the tax.

Well seeing as most of them would roi in 100 days or less..sure.

Especially if you bought before prices went up. 

ETH has always been going POS...they have been saying a couple of months for YEARS....

Eth paid for the entire farm....now more than 2x....not worried at all.

Madness, pure madness.

ETH is in transition to POS (ETH 2.0). If I understand correctly, some sort of hybrid POW/POS validation should be rolled out in next couple of months. And the question that floats in air - will there be ROI for newly acquired GPU-s?

Yes, if we see eth from 230 to 480 usd, bull pattern. When we see 480 to 310 usd, bear pattern, and we still see the hashrate increasing even with a lower price that means price will likely follow next few days. The more hashrate, the more competition, less likely mined coins will be dumped, increasing the price.

The interesting thing, eth price is getting support faster than I thought it would be after a price crash like that and it shows there are not many sellers at that price range. That is very bullish. I guess at 700 plus will be the resistance, if eth bulls get through that then we might see 1000 usd again.

The price is not back at 400 usd yet because there are people who think bitcoin will still crash to 9600 again to fill that magical cme gap. That might have been filled already. Although is close to that price point, whales dont want to go to 500 usd and then back to 350 usd, so if that gap was not filled then it will be filled before it moves upwards. So there is a chance eth will still crash to 300 ~ 320 and bitcoin to 9600 and then we move to 12k bitcoin and 450 ~ 500 usd eth.

hasnt hash traditionally followed price and not price followed hash?

Usually when this happens price also rises with it, lets see if this will translate to a price increase.

RIGHT NOW on ETH

- 262.000GH/s

- this increase in hashrate DOES NOT COME FROM OTHER COINS, it's mostly new hashrate being bought , activated or turned on again.

- in less than a month, 60.000gh/s have entered the network pools for ETH WHICH IS ABSOLUTE MADNESS.

- The increase in hashrate matches the mega big madness from January-February-March 2018.

- ETH hashrate has gone up 77% since January 2020.

This is just FUCKING INSANE.

Not everybody uses them to mine. i've seen many many RX 570 8gb for around 100€ on ebay+ shipping. i myself bought some a few months ago. I've seen Sapphire RX 570 nitro + 8gb for as low as 89€ sold on Ebay just 6 days ago.



you can buy them for new https://www.pccomponentes.com/xfx-amd-radeon-rx-570-rs-8gb-xxx-edition-8gb-gddr5 144€.

Russia
GIGABYTE AMD Radeon RX 5700  357€  424$
https://www.citilink.ru/catalog/computers_and_notebooks/parts/videocards/1174218/

GIGABYTE AMD Radeon RX 570 8 GB  170€  203$
https://www.citilink.ru/catalog/computers_and_notebooks/parts/videocards/1378579/

If 578 were sold in Russia for 100 euros ...
For 100 euros you will buy with great effort 488, which has been used for 3 years in mining

Electricity is very cheap where I live but lately, mining ETH is getting really tough plus I think the difficulty will go through the roof once they release a proper date for 2.0 mainnet. If difficulty keeps rising like this then I think I would have to look for a new coin to mine.

i think the news of eth 2.0 being in final dev is driving this pump, plus with eth fees so hight its really profitable to mine again.  Asics are definitely on the rise too

Your point is good but! you forgot something.

the RX 5700 is very difficult to get it right now. the price here in Spain is around 350€ (410$) for the cheapest one, the MSI Mech OC 5700 8gb. You can get a Sapphire RX 570 Nitro+ 8gb for around 100€ and get it to do 30Mh/s+.

Yeah, probably it's a better buy an Rx 5700 but also much more expensive initially.

1 Radeon 5700 is equal in performance to 2 RX 580
The Radeon 5700 and RX580 have similar power consumption.
Why do miners buy old video cards?
If the hype ends and the ETH price goes down, mining on them will be unprofitable.

Another episode of "ETH hashrate going to the moon"!!

Just numbers.

15.000 GH/s have come to ETH in 24 hours. From 186.000 to 201.000GH/s. This are INSANE numbers. Crazy numbers. All nearly in the same day. Such a pump is very disturbing.

Since January, ETH has seen it's hashrate pump nearly 40%. 40%!!!!!!! from 145.000GH/s to 201.000GH/s

But, you may think this numbers are people that are switching coins right? Well HELL NO!!! almost all important coins have held steady their Hashrate the last 2 weeks, with little variations.

Consider also this: 4GB cards are having issues mining ETH. But!! the hashrate is still going up incredibly. There is something going on here.

Also, more data: according to HiveOS, 47% of all GPU mining there, are 4gb cards (580's 570's 480's and 470's). So eventually, the ETH hashrate should go down dramatically before December 2020.

More data: The biggest retailer here in Spain (i have an "spy" there)tells me that RX 580's are being sold incredibly well right now. Want a tip?

On monday:

100 580's XFX AMD Radeon RX 580 GTS XXX Edition 8GB were on sale at 176€ per card. They went out of stock on tuesday.
100 590's XFX AMD Radeon RX 590 FATBOY OC+ 8GB were on sale at 189€ per card. There are only 10 left on stock right now.
200 570's XFX AMD Radeon RX 570 RS 8GB XXX Edition 8GB were on sale at 144€ per card. There are 30 left on stock right now.
100 570's Asus ROG Strix Radeon RX 570 OC Gaming 8GB were on sale at 150€ per card. There are 40 left.
100 580's Sapphire Pulse Radeon RX 580 8GB were on sale at 180€ per card. Only 20 left .
100 5600XT XFX AMD Radeon RX 5600 XT 14Gbps 6GB GDDR6 THICC III Pro were on sale at 309€ per card. only 18 left. I've been told that a guy bought 60 of these.


Believe me, the list goes on and on. More than 300 GPU's have been sold on the Nvidia side, Most of them 1660super and Ti. ( The Ti can do 32Mh/s at a very efficient power consumption). Moreover, this are just the numbers of GPU sold on promotion. I don't know the amount of GPU sold on normal conditions since you cannot see the amount of initial cards that were on sale for the promotion.

My "spy" has told me that the amount of GPU sold have increased a whopping 400% this week. This are only numbers seen by the end of 2017 begining of 2018

Is the mining madness among us again??

two more things. In spain, electricity is very expensive with a lot of taxes. The average BEST PRICE you can get is 0,1€ per KW (0.12$ per KW).

with a 6gpu mining ETH at 186mh/s , 0,12$ per KW at current numbers you are making no more than 30$. Are people buying GPUs on economic crisis to get this ridiculous amount of money???

are some ASIC company actually mining ETH with their powerful mining hardware???

What's happening?






 

I don't think its because of the ASICs why the price is suffering. Sure it might lead to some sell pressure but the block reward was already reduced twice and the miner revenue today is much smaller than in the past.

The issue is more related to the ICOs which still hold tons of ETH and they sell it on every rally. There are the bag-holders who bought at $1000 and are trying to sell for the smallest possible loss and there are ETH futures which can provide tons of shorting opportunies due to the huge liquidity they provide compared to the spot ETH markets.

Even when ETH finally goes POS it doesn't gaurantee it will return to the 4 digits. Keep in mind ETH was like $10 before the crazy 2017 rally and BTC was like $800. So its price today is still greater than BTC if you compare the ratios.

This is probably why ETH value has gone to the dumps. I've always been a strong supporter of ETH but they never deliver or follow through on their promised timelines. They said they would switch to POS very soon, three years ago. There seems to be little progress to make ETH really competitive on a global scale.

Theres always hope in the future ETH will rise again, but at this rate, it may be better to invest on other things for now.

They didn't just release it... it's been available for over a year

I would think hashrate would have a delayed reaction to the price movement either way