Topic: Ethereum mining still profitable? - page 47. (Read 131303 times)
there are other coins that are profitable, or offer the same profit as ethereum, if they dump ethereum they will pump another one, some miners will leave and other will remain, you can bet that at least one remain profitable, if not, you wait for the second coming of "a etheruem like coin"
Is there any clear schedule by when the ETH will become POS only coin ? Who knows it ? I asked several times but no one was able to answer. I think if POW phase remains viable, we will get profit like now for couple of months. Because there are ETH haters also and they will switch to another coins. New miners will enter into ETH mining and naturally some miners will leave ETH.
The POS switch is up to the devs. Nobody knows exactly when it will take place. Could be next month or next year.
Is there any clear schedule by when the ETH will become POS only coin ? Who knows it ? I asked several times but no one was able to answer. I think if POW phase remains viable, we will get profit like now for couple of months. Because there are ETH haters also and they will switch to another coins. New miners will enter into ETH mining and naturally some miners will leave ETH.
I highly doubt it will remain profitable until POS. Maybe by profitable you mean making $0.20 a day with a 280X?
Right now a 280X makes $5 per day.
In the last 30 days, the hashrate pretty much doubled, but the price went up quadruple, so its ok.
Assume price stays where it is. Assume starting hashrate of 1400Gh/s which is where we are at right now. Hashrate went up by 750Gh/s every month.
In 30 days, a 280X will make $3.25 per day.
In 2 months, $2.41
in 3 months, $1.92
in 4 months, $1.59
in 5 months, $1.36
Only way how a 280X will make $5 constantly for the next 6 months is if it surpases BTC in marketcap, which is highly unlikely.
Enjoy the profits right now while they last because it won't always be like this. Trust me I was around for the BTC, and LTC mining days, even X11. These days everybody is smart and they do what they can to maximize profits.
But who knows, the hashrate increase is based on adding around 1250 R9 280X GPUs a day, so maybe there will be hopefully supply shortages.
Or the devs who own 72,000,000 ETH will start dumping and cause the price to crash.
Right now a 280X makes $5 per day.
In the last 30 days, the hashrate pretty much doubled, but the price went up quadruple, so its ok.
Assume price stays where it is. Assume starting hashrate of 1400Gh/s which is where we are at right now. Hashrate went up by 750Gh/s every month.
In 30 days, a 280X will make $3.25 per day.
In 2 months, $2.41
in 3 months, $1.92
in 4 months, $1.59
in 5 months, $1.36
Only way how a 280X will make $5 constantly for the next 6 months is if it surpases BTC in marketcap, which is highly unlikely.
Enjoy the profits right now while they last because it won't always be like this. Trust me I was around for the BTC, and LTC mining days, even X11. These days everybody is smart and they do what they can to maximize profits.
But who knows, the hashrate increase is based on adding around 1250 R9 280X GPUs a day, so maybe there will be hopefully supply shortages.
Or the devs who own 72,000,000 ETH will start dumping and cause the price to crash.
Its common sense that if something is very profitable more and more people are going to want to get into it.
It doesn't take a genius to start mining. Its basically free money. Hence it will become more and more competitive and that will cut into everyones profits.
The next month or so should be very good profits for most. But in 6 months or so, maybe the ones with cheap electricity will be only able to mine.
The only roadblocks I can see are if GPUs get sold out everywhere and that will halt the difficulty jumps but right now there is still massive supply everywhere and even Nvidia cards can mine ETH unlike the Litecoin AMD day.
BTC is a perfect example, its was very profitable during certain times but then everybody wanted a piece of the pie and right now the profits are very very low for most. Only the ones with free electricity make good money with Bitcoin.
It doesn't take a genius to start mining. Its basically free money. Hence it will become more and more competitive and that will cut into everyones profits.
The next month or so should be very good profits for most. But in 6 months or so, maybe the ones with cheap electricity will be only able to mine.
The only roadblocks I can see are if GPUs get sold out everywhere and that will halt the difficulty jumps but right now there is still massive supply everywhere and even Nvidia cards can mine ETH unlike the Litecoin AMD day.
BTC is a perfect example, its was very profitable during certain times but then everybody wanted a piece of the pie and right now the profits are very very low for most. Only the ones with free electricity make good money with Bitcoin.
I disagree and think it will remain profitable until ETH goes PoS. You cannot compare it with Bitcoin mining, as when the ASICs started, GPUs quickly became obsolete due to the arms race, not because more people got involved. In fact, this caused the opposite to happen as the price of dedicated ASICs started to out-price home miners, the amount of individual miners declined. As long as the Ethereum algorithm remains ASIC resistant, or at least until PoS, it will remain viable to mine.
While it is indeed true that more people will look to bring more GPU's online, this is in itself limited as to how far it can scale. The early ASIC's effectively replaced 10 GPUs, then later on 20, and now 100 or even 1000's in equivalent hashing power. Multiply a large BTC miner today with 100's of such ASICs now and you can see this represents 100's of thousands, or even millions of GPU's worth of hashing power, which would have been impossible to scale to if mining remained in the hands of GPU only.
Its common sense that if something is very profitable more and more people are going to want to get into it.
It doesn't take a genius to start mining. Its basically free money. Hence it will become more and more competitive and that will cut into everyones profits.
The next month or so should be very good profits for most. But in 6 months or so, maybe the ones with cheap electricity will be only able to mine.
The only roadblocks I can see are if GPUs get sold out everywhere and that will halt the difficulty jumps but right now there is still massive supply everywhere and even Nvidia cards can mine ETH unlike the Litecoin AMD day.
BTC is a perfect example, its was very profitable during certain times but then everybody wanted a piece of the pie and right now the profits are very very low for most. Only the ones with free electricity make good money with Bitcoin.
It doesn't take a genius to start mining. Its basically free money. Hence it will become more and more competitive and that will cut into everyones profits.
The next month or so should be very good profits for most. But in 6 months or so, maybe the ones with cheap electricity will be only able to mine.
The only roadblocks I can see are if GPUs get sold out everywhere and that will halt the difficulty jumps but right now there is still massive supply everywhere and even Nvidia cards can mine ETH unlike the Litecoin AMD day.
BTC is a perfect example, its was very profitable during certain times but then everybody wanted a piece of the pie and right now the profits are very very low for most. Only the ones with free electricity make good money with Bitcoin.
There is no timeline or date that they want to switch over to POS, watch this video for more info and to answer some questions. (9:40 talks about the switch)
https://www.youtube.com/watch?v=UWnAtyrFHc0&feature=youtu.be
As far as POW mining we should be able to mine at least another year probably longer, I don't see them switching over until ethereum starts gaining a lot more popularity and value in the coin. Personally I wouldn't worry about the dag file either...you can mine with a 2gb card for another year and by the time it does become a concern you will probably have upgraded to newer gpu's anyway. Also lets not forget that Decred is also a good coin to mine also, it has only been out on the market for a little over a month but has nice mining returns similar to ether and was developed by some bitcoin devs.
So I wouldn't worry too much.
https://www.youtube.com/watch?v=UWnAtyrFHc0&feature=youtu.be
As far as POW mining we should be able to mine at least another year probably longer, I don't see them switching over until ethereum starts gaining a lot more popularity and value in the coin. Personally I wouldn't worry about the dag file either...you can mine with a 2gb card for another year and by the time it does become a concern you will probably have upgraded to newer gpu's anyway. Also lets not forget that Decred is also a good coin to mine also, it has only been out on the market for a little over a month but has nice mining returns similar to ether and was developed by some bitcoin devs.
So I wouldn't worry too much.
will we be able to mine for 1 more year ? Is it possible for Eth to be turn into solid POS coin by this time ? I think 7950/7970/R9280x r the most efficient cards for mining Ethereum. Is there any timeline of schedule for Eth to be turn into POS only coin ?
By the time it goes POS, ETH mining won't be profitable anymore with the huge difficulty increases. I predict only 2 more months of profitable mining.
By then it will become like BTC mining where there are none to little profits with those with free electricity.
Only 2 months ? Do you have any reference for this sort of news? How do you even measure the duration ?
will we be able to mine for 1 more year ? Is it possible for Eth to be turn into solid POS coin by this time ? I think 7950/7970/R9280x r the most efficient cards for mining Ethereum. Is there any timeline of schedule for Eth to be turn into POS only coin ?
By the time it goes POS, ETH mining won't be profitable anymore with the huge difficulty increases. I predict only 2 more months of profitable mining.
By then it will become like BTC mining where there are none to little profits with those with free electricity.
Huh?
When it goes POS <-- there won't be any more hardware mining done anymore because it's "POS".
And i don't really understand why you're making a comparison with BTC mining.
BTC mining is still profitable. I have a few asics running, they're profitable, just not as much as gpu mining is at this moment.
will we be able to mine for 1 more year ? Is it possible for Eth to be turn into solid POS coin by this time ? I think 7950/7970/R9280x r the most efficient cards for mining Ethereum. Is there any timeline of schedule for Eth to be turn into POS only coin ?
By the time it goes POS, ETH mining won't be profitable anymore with the huge difficulty increases. I predict only 2 more months of profitable mining.
By then it will become like BTC mining where there are none to little profits with those with free electricity.
will we be able to mine for 1 more year ? Is it possible for Eth to be turn into solid POS coin by this time ? I think 7950/7970/R9280x r the most efficient cards for mining Ethereum. Is there any timeline of schedule for Eth to be turn into POS only coin ?
Dificulty going down a bit, mining more eth now than last week
May be 2gb cards are getting out from mining due to DAG allocation size error
Explain please. I am running several 2GB cards right now and have not seen any DAG allocation size error, they are currently mining just as well as my 3GB and 4 GB cards.
Someone is the forum was complaining about 6950 amd cards and 750ti nvidia cards. Those cards are not mining eth...
Ok, I thought maybe there was a new development or something.
Even if that was the case with those cards, I doubt that enough older cards were in operation to affect the mining difficulty much. I think it has to do more with the day-to-day price swings, it seems some miners are very price sensitive and we can see hash-rates drop in concert with price.
What are your 2gb cards? And how much hashes do u get from them?!
I am actually mining with several makes/models, but the 2GB ones are mainly the R7 370 model. I have one rig with 4x of these doing about 60 MH/s on ETH and up to 70-75 MH/s on EXP. When mining ETH I am earning about 1.3 ETH/day on Dwarfpool for this rig, or about $9-12/day after power costs and depending on ETH's price any given day.
I am not sure how long before 2GB cards will remain viable, but looking at the DAG file growth it seems to be increasing at a rate of roughly 8 MB every 6 days, or 1.35 MB/day. I am assuming it can grow close to 2 GB in size before the cards quit working. With let's say a 1.9 GB limit for sake of argument, and the current DAG size of 1.4 GB, this would give 500 MB room yet for growth. So 500 MB/1.35 MB day would give about 370 productive days yet for mining, or about another year.
Radeon R7 & R9 and HD7XXX series with 2gb vRAM works perfectly for now.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
But is it profitable to mine with those 2 gb cards?!
yes if you can create the dag file which is 1.3GB, and there are also other ethereum clone if etheruem is not minable anymore, those clone should come with a small dag file
HD6XXX and older can not mine ETH.
Drivers 14.4 or older
http://forum.ethereum.org/discussion/2134/gpu-mining-is-out-come-and-let-us-know-of-your-bench-scores/p17
Code:
catalyst 14.4 /
gpu_max_alloc 99/gpu_use_sync_object 1/gpu_max_heap_size 99
Radeon R7 & R9 and HD7XXX series with 2gb vRAM works perfectly for now.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
But is it profitable to mine with those 2 gb cards?!
Radeon R7 & R9 and HD7XXX series with 2gb vRAM works perfectly for now.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
HD6XXX and older can not mine ETH. Also, nVidia 7XX and 9XX with 2GB of RAM mining perfectly. Ofc, hashrate is not even close to Radeon cards but they use alot less electricity.
Dificulty going down a bit, mining more eth now than last week
May be 2gb cards are getting out from mining due to DAG allocation size error
Explain please. I am running several 2GB cards right now and have not seen any DAG allocation size error, they are currently mining just as well as my 3GB and 4 GB cards.
Someone is the forum was complaining about 6950 amd cards and 750ti nvidia cards. Those cards are not mining eth...
Ok, I thought maybe there was a new development or something.
Even if that was the case with those cards, I doubt that enough older cards were in operation to affect the mining difficulty much. I think it has to do more with the day-to-day price swings, it seems some miners are very price sensitive and we can see hash-rates drop in concert with price.
What are your 2gb cards? And how much hashes do u get from them?!
how do i set up a proxy solo mineing ?
was thinking of youseing my digitalocean droplet for that.
solo mineing with prozx so i can connect more GPU's to it
the things i found did help much "might be that i'm stupid" i dont rule that out
was thinking of youseing my digitalocean droplet for that.
solo mineing with prozx so i can connect more GPU's to it
the things i found did help much "might be that i'm stupid" i dont rule that out
There's a few tutorials online on how to set it up.
Watch out though, it isn't very stable and you'll need to have a decent amount of hash to find blocks.
You'll eventually find some, but that'll take some time (depending on your hash rate.)
I would suggest to just connect to a pool. (one that doesn't have more than 50% of the network)
"isn't very stable"? I've had the cpp-ethereum daemon segfault roughly twice a day.
Try running the go version... runs fine, will keep running fine until there's that little moment where it loses sync.
Even on a very decent server with a very stable connection.
Dificulty going down a bit, mining more eth now than last week
May be 2gb cards are getting out from mining due to DAG allocation size error
Explain please. I am running several 2GB cards right now and have not seen any DAG allocation size error, they are currently mining just as well as my 3GB and 4 GB cards.
Someone is the forum was complaining about 6950 amd cards and 750ti nvidia cards. Those cards are not mining eth...
Ok, I thought maybe there was a new development or something.
Even if that was the case with those cards, I doubt that enough older cards were in operation to affect the mining difficulty much. I think it has to do more with the day-to-day price swings, it seems some miners are very price sensitive and we can see hash-rates drop in concert with price.
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