Topic: Ethereum mining still profitable? - page 62. (Read 131303 times)

Yea red flag for me with genesis was when eth skyrocketed in price a few weeks ago and all of a sudden they were out of contracts.(that can mean two things. 1 it means they wanted to horde the hash for themselves or 2 they are running a fractional reserve operation with end game always with customer pissed off with lost coins!) They seem to have a load when price drops   seen it too many times now.. been scammed by too many of them aswell.. Ones that we all thought were reputable and turned out to not be so..

Just ask yourselves this with any  cloud operation.. WHY would they want you to make the profit and not themselves?!!!!!  There is always some scheme to fuck over the customer with EVERY cloud operation,   Hell even Bitmain knew what they were doing .. They allow s3 s4 contracts to be sold all the while knowing they were going to throw whats turns out to be about 800 peta thus far since announce of s7 and increasing.. hell we just had a 20% diff jump and looking at another 15%.. which is about 300 peta added in a month!.. At this rate if you buy s7 now at hashnest and price doesn't go up.. the 40 % maintenance now will go to 80% and i'm betting that they hold off on throwing a bunch of hash on now so that they can make the play to fuck us by selling s7 up to halving on hashnest all the while knowing they will drive diff up after to squeeze them out of profit as well.. thus shutting you down.. this is all part of their game they are now playing with us miners. I have no doubt if bitfury is at 16 nm so will bitmain soon if not already!.. Dont become a victim like so many of us have!.. Clouds are scams.. hashnest only thing going for it is the ability to trade but thats not what the platform is intended for im no day trader! If that's the only way to make btc from mining on hashnest then i see it as a bad investment opportunity!

Best Regards
d57heinz

The difficulty is rising really quickly. It may be profitable today, but in one week it may not be the case. Starting the mining is something really costy, so having his investment back could be really hard, also, I doubt that Genenis Hash put any hash, and I think that it is just a kind of ponzi.

I absolutely will never put my coins in another cloud again.. If you do that's where they end up most times.. somewhere in the clouds!

Best Regards
d57heinz

Difficulty has risen about 20% over the past 4-6 weeks, however I have noticed no real impact on production...

Genesis, to me, wipes out all profitability even at todays ETH price. It would only be a hedge bet on the future, both in price rise and longevity of PoW... Not for me!

Ethereum mining is still profitable now. But it will not be if the difficulty rises too fast. Genesis mining has put more hash.

Are you so sure? I think it will end before the end of the year. Any way, I shall not buy the Genesis mining contracts.

No ! Do not ! The Ethereum mining will end around this summer with the PoS switch, so you'll never profit from it.

Yeah ive made some bad investments on genesis, but my x11 contracts are paying out above expected in all fairness. I may purchase some ether mining power just to test it out.

The price is too high. It will make profit for Genesis mining, not for the customers if the difficulty doubles.

Genesis mining is offering Ether one year mining contracts maintenance free again.

 

Sometimes forum noobs aren't cryptomining noobs... 

This card is at least 5 years old, it cannot be used for Ethereum ming. You need at least 2GB memory to mine Ethereum.

I used to earn 10 Ethereum in one rig, but it can only get 4.2 each day. The difficulty is rising so fast.

No BS.. i tried supernova first and got close to 25 % rejects.. Someone suggest i try coinotron with the proxy and stratum mining.. I get maybe 2 rejects in last 1000 shares submits.. What a difference in performance and rewards... If you Have yet to try it i suggest you see for yourselves . dont take my word!.

i get about 42 mhs avg with two hd7970   1040 gpu 1375 mem clock.. they are xfx 3 gb edition with the two fan cooler.. https://www.techpowerup.com/vgabios/131977/xfx-hd7970-3072-120715.html  and that firmware.. i had the gigabyte bios on it but the hdmi is disabled then..

Best Regards
d57heinz

It is probably down to 14-15 Mhash now as the amount of miners, and thus difficulty increases. The income from mining ETH will continue to decline as long as price remains high as more and more miners pile in. As a side effect, once enough people buy equipment to mine, even once the price goes down the competition for those few cents of profit will remain fierce, as now all the people looking to get rich quick will need to hang on in hopes of getting their investment back.

This pattern has repeated throughout early BTC mining, then scrypt mining, and on with various alts as initial profitability predictions makes it seem like a no brainier to invest, but after awhile those predictions turn out to be faulty as people did not consider the competition, after all who doesn't want free money? In the end only those with existing equipment, or cheap electricity, or preferably both, will win in the long run. I would not recommend running out and buying a bunch of new equipment based upon today's profitability calculators.

Myself, I fall into the "I had existing equipment camp", but my electricity is not the cheapest. So while I am currently making some profit, based upon my own calculations it does not pay to invest in new equipment, even used cards since they have seen a recent run-up in price as well.

suppose R9 270x is mining at a rate of ~20 Mhash now. With increasing DAG size, they will produce less hashes ? BTW what is the hash rate for
R9 270x ?

i can not mine with nvidia gpu :S
i have an old 9800 gt

They will be least efficient in mining in terms of getting your money back. If you build a rig, the hash is too small.

The price is still above 0.009. If there is a big dump, the price will be below that level or much lower.