Topic: Ethereum Fork/Block Reward Reduction Kills GPU Mining Profitability (Read 1029 times)

About those who minen half a year ago, Ravencoin can be said to be lucky. Ravencoin brought a very good profit to miners and holders. Repeat this success will not every project.

There are projects like ravencoin that give greater profit and grow in price more than the eth, team changes in core mining will not affect those who mine eth only for money profit.
The network must be changed because, sooner or later, with increasing complexity, the network will have to be protected from an 51% attack.

Its mean mining is not profitable for you, but thousand of ppl got the mining rig when the rx480/580 gpu's was around 200$, 2-3 years ago,  and not just jumped into the mining when the those gpu prices was around 400-500-600-800$. You jumped back into mining and wanted to get rich fast maybe? making a lot of extra $'s within a short period of time ? , but you realized by now, this is not how things happened , and coming back to this forum and crying like a baby

Im pretty much happy if/when my own mining rigs generating "only $900 a year in profit", thank god i have a few of those rigs
and yeah ... i wasnt that stupid buying gpus when the price was doubled and tripled over manufacturer suggested retail price (MSRP)  

If you paid a hefty price for your gpu's, you made a mistake , just like many other ppl
Mining is definitely not profitable if you building your rigs now, or built when the parts price was crazy high.

My friend continues to mine Ethereum and says he is not going to stop. Although now the profitability of mining of the Ethereum is not high, but I think that in the future. Ethereum can greatly increase in price and then you can get a lot of profit.

Thankfully not !

If you are ready to invest real money, in a cryptocurrency, probably in a specific coin, it is necessary to analyze the market as a whole, as well as evaluate the potential of a particular coin. I want to note that the cryptocurrency market is unpredictable and predictable if it is the goal to get earning and not how to invest thoughtlessly, then the likelihood of earning is high.

Now after about 1+ month of the block reward reduction, It's clear to see that ETH mining is about the least profitable option out of all coins. If you're a Nvidia miner, mining Ethereum makes zero sense. If you're an AMD miner... well you're just fucked. Only two profitable options are XMR and ETH. Seeing as XMR just HF and lowered there Diff I can image a decent few jumped over to XMR.

My 13 AMD RX580 rig, well optimized for Ethereum. Netted 412~mh/s for 1750w~ (total power consumption)
https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=412&p=1700&fee=1.0&cost=0.09&hcost=0.0&commit=Calculate

Putting into WTT only looking at $900 a year in profit. That's bad, I mean that with a diff drop and fairly good price increase. There is no way to ROI a GPU rig on Ethereum, even If I kept these I bought last year(which mind you, I paid more for). Ethereum price would have to increase substantially like last year, all the while you're HODLing your coins, to make back your money + some.

By the time you see or wait this growth trend you will not want to buy anymore cause it will be already a lot more than it was few minutes ago hehe, in my opinion you have to buy using your own judgment and good luck.

I would say that buying coins at the peak of their price is just as silly as switching from one coin to another just because it is in the top mining calculator. You decided to invest these money in one or another currency, you need to analyze the market and buy it only when there is a growth trend and sell when the reverse trend. On some exchanges there is a cool chip "Stop Loss". Why am I, whoever never comes to the pump and does not sell on the dump, always need to fix earnings or loss and not wait for future turns of fate. Unfortunately now it is difficult to say, we will see eth growth in the near future due to lower rewards for the block for miners. My personal opinion is not.

You are talking about medium-term trading. Besides the psychology of people, there is risk/profit. While the price is falling, buying is stupid, since it is not known when stop of fall. When the price has risen, it is foolish to buy, since after the rise a dump will follow. 
But you are right with the trend. Now it is beneficial for miners to save their ETH. If they be able to survive at this time .

If you don't then you fail at economics, why would somebody pay for something that suddenly became 10 times easier to mine than to buy. Asics over time do not do that, for example bitcoin, litecoin, introduction to asics on any new coin does that, for example eth,xmr and that is related to the whole market. For example, you were paying $1400 for 1 eth then because of hidden asics it became 10 times easier for those miners to mine eth, would you still be paying $1400 for 1 eth or would you prefer to pay $140 for 1 eth? If you were an investor def would want $140 but things dont get that way that fast, it takes time, now as eth issuance is lower and lower, eth at this price is a steal, not even asics are making as much as they were and since another fork is coming and that will make them useless for eth, expect eth price to jump 10 to 50 times in the next few months, that is economics to you too, harder to mine, bull market incoming, few will be selling their eth. That is the same reason we can say why people never bought btc for $3000 and now at $5000, they are buying like crazy and as btc rises to 10k more people will be buying like crazy, is that stupid? maybe but that is how most people do, they never buy when it crashes, they start buying after 20% increase or so of a coin, is that stupid? maybe but that is how they profit in this stupid market.

The same thing can be said when bitcoin crashes, if bitcoin keeps this price then it will only rise because people have a positive outlook of it, if it crashes to 4000 usd then people will say that bitcoin might crash to 3000 usd or so and they will not buy it, see the point. Yes, it is stupid but that is how things have been as long as i can remember. The same thing can be said when people were buying thousands of bitcoin daily when it was $20k and the same people were not buying when bitcoin was $3200. How stupid was that? very.

I do not agree with the statement that the fall in the crypto market is somehow associated with ASIC.The market can not grow forever or fall forever. There is always a drop and growth. That the reward for extraction ETH will diminish I think on the contrary has a positive effect on the price. This will make ETH more valuable. We only just wait for the bull market

Well most people think the lower inflation rate will raise the price of ethereum very quickly and will give more profit to everyone.  Whether or not the difficult will jump at the same rate as the price rises giving the same profitability remains to be seen.

I've actually kept a lot of you vosk. Unfortunately that is over. you are ignorant and incorrigible.

You say i looking at simply earnings? Stupid answer, i check much factors, i see lower block time that you haven´t seen, i see lower diffi that you haven´t seen. You only look at the block reward reduction, this is your argument, nothing more.
Yes it is a smaller pie, but you get more pies in the same time as before and you find it easier.

I get now 0.3 eth in 1 week with my eth rig, before the fork i get 0.25 eth in 1 week.

you and your pies .. write a reviews, blogs about some bakery product then  

2 weeks after the hard fork, With the same setup, Actually im making more "pies" than before the hard fork  , its mean my earning is slightly better than before the hard fork

All of us are mining for profit, for extra income, extra $ ... so i personally give a s..t about your pies, and keep mining ETH  

Its amazing how you can not accept the fact, you wrote a totally incorrect review , post or whatever you calling it ...
Two weeks After the hard fork, im still getting the same amount of ETH,  !!!
Are you blind ? Missed some basic math classes when you was in elemntary school ? or what ?
so what is your point exactly ?

With the same hardware , If i mined 2ETH/week before the hard fork , how the hell i still can mine 2 eth/week two weeks after the hard fork ? if your statement is right ?
Im sure you missed some basic math classes, in this case i would like to give you suggestion , watch this movie a few times:  "Billy Madison"" (with Adam Sandler) and consider the same thing what he did in that movie for his future if you decide to do what ""Billy Madison" done in that movie , record everything, make a movie from it, and post it on your youtube blog All of us going to enjoy that Name the movie to something like this : "Oops Billy Madison did it again 24 years later"  

Are you part of the ETH dev team ? Trying to tell the dev team how to process the hard fork ? Where you get this information : "the diff bomb that should not have been going off within ETH"
The miner rewards has been reduced, and at the same time the difficulty has been adjusted and the diff bomb has been delayed by the developers Do you have any problem with this ?  
For me its still not clear do you understand or not what is the different between adjusted difficulty , and delayed difficulty bomb ...

you're missing my point

You are looking at simply earnings

I see a smaller pie, regardless if you are getting the same sized piece of pie.

LOL and lower diffi -35% ?
Ok you ignore it XD

25% block reduction + 35% lower diffi versus 33% reward reduction, this is what you must compare. 

What TOKEN are you talkin' about?? ... jeees..

At my RIG (2*GTX 1070 and 1* GTX 1070ti), since hard forks, the amount of ether extracted has changed from 0.2 ETH per month to 0.22 ETH. I assumed that it would be absolutely the opposite. Also, I cannot understand why the price of the ETH token has not yet risen, because in fact, when the reward decreases, the price of the token must grow.

I wonder why Ethereum mining isn't rewarding miners a bit more than it used to be. Many miners have moved to Grin or X16R algorithms which gives at least the same amount of daily income as eth mining does in Radeon cards, in Nvidia sometimes it is even better.

I don't think that forking of eth will have anything to do with gpu killing profitability.