GPU mining will die in 2018! - page 20.

rdluffy

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Quote from: ico41 on March 27, 2018, 02:29:11 PM

Quote from: iTradeChips on March 27, 2018, 12:01:13 PM

Problem with this issue is that many people are using GPU mining only and are not capable of buying ASIC miners. Too expensive for the average joe to purchase those ASICS miners. Greed drives the powerful so that the weak will lose. Don't let it happen. Continue with the GPU mining.

I have a small GPU rig - 3 1070 TI's and it's a great little rig and does a very stable job of running 24/7. I understand about profitability and how important that is, but I do think it's worth it to mine at break-even if you believe in the long-term viability of a coin. For instance, I believe in RVN so even though I'm not really making much money, or any maybe, I'm enjoying the mining because I believe in the coin. If you think of how much we spend daily on things like Starbucks, or maybe cigarettes, or any number of a hundred other habits, mining at a small loss doesn't sound like a completely stupid idea, especially if you give up one of those habits. SBUX costs around $3-5 a day or more. I'll just say that I would rather "lose" that money mining than have nothing at the end of the year but 360 memories of a latte.

One thing that I find kind of interesting is that the ASIC/GPU price is narrowing. The 1080 TI's on NewEgg are still around $900, but on Craigslist I'm seeing S9's for as little as $1,700 (in Los Angeles area) and I don't really think they are ALL scams. Seems like an ASIC S9 might be a better long-term investment than two 1080's ... if you believe in the Long Term value of the coins that S9's can mine, that is.

But what will you do with S9 Asic when difficulty rises a lot, another model launches and your coin generated doesn't pay electricity?

mindrust

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Quote from: ico41 on March 27, 2018, 02:29:11 PM

Quote from: iTradeChips on March 27, 2018, 12:01:13 PM

Problem with this issue is that many people are using GPU mining only and are not capable of buying ASIC miners. Too expensive for the average joe to purchase those ASICS miners. Greed drives the powerful so that the weak will lose. Don't let it happen. Continue with the GPU mining.

I have a small GPU rig - 3 1070 TI's and it's a great little rig and does a very stable job of running 24/7. I understand about profitability and how important that is, but I do think it's worth it to mine at break-even if you believe in the long-term viability of a coin. For instance, I believe in RVN so even though I'm not really making much money, or any maybe, ...

Wtf... Did you know that you could have bought more ravens than what you were getting from mining if you were doing nicehash and then bought ravens with your bitcoins? Now you know.

It is pointless to mine a shitcoin while you can mine a better alternative and then buy more of that shitcoin. Be smart please.

*no offense to raven btw, i like it because of its unique algo. It might be the savior we are looking for. Did a nice pump recently too. *

Edit: I was probably wrong with my calculations. I am on it.
Edit2: Turns out to be, the profitability was the same whether you do nicehash or mine raven directly.

ico41

member

Activity: 82

Merit: 13

Nothing in the cry of cicadas suggests ...

Quote from: iTradeChips on March 27, 2018, 12:01:13 PM

Problem with this issue is that many people are using GPU mining only and are not capable of buying ASIC miners. Too expensive for the average joe to purchase those ASICS miners. Greed drives the powerful so that the weak will lose. Don't let it happen. Continue with the GPU mining.

I have a small GPU rig - 3 1070 TI's and it's a great little rig and does a very stable job of running 24/7. I understand about profitability and how important that is, but I do think it's worth it to mine at break-even if you believe in the long-term viability of a coin. For instance, I believe in RVN so even though I'm not really making much money, or any maybe, I'm enjoying the mining because I believe in the coin. If you think of how much we spend daily on things like Starbucks, or maybe cigarettes, or any number of a hundred other habits, mining at a small loss doesn't sound like a completely stupid idea, especially if you give up one of those habits. SBUX costs around $3-5 a day or more. I'll just say that I would rather "lose" that money mining than have nothing at the end of the year but 360 memories of a latte.

One thing that I find kind of interesting is that the ASIC/GPU price is narrowing. The 1080 TI's on NewEgg are still around $900, but on Craigslist I'm seeing S9's for as little as $1,700 (in Los Angeles area) and I don't really think they are ALL scams. Seems like an ASIC S9 might be a better long-term investment than two 1080's ... if you believe in the Long Term value of the coins that S9's can mine, that is.

Lerva

newbie

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I don't think GPU mining will die.Not totally I mean.I'm looking forward to see NVIDIA's next architecture.And how much will 7nm VEGA improve vs. 14nm.Interesting.

antantti

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Quote from: Metroid on March 27, 2018, 06:08:52 AM

You see, I did this before this "huge alt coins crash" happened, I already knew this would happen, at that time nobody believed me because profit was very high. Now they are getting together and starting to accept reality, profitability has never been worse, not even when litecoin crashed in 2014 was this bad, matter of fact it was never like this in crypto history and that is mainly to asics cause investors know they can buy coins cheaper from whoever is running asics cause they know asics profitability is 100x, so they want to pay 100 times lower to asics miners. Now if tomorrow eth goes to pos then price would jump 10 times instantly, supply and demand.

I had to sell/ shut down my tahiti/ hawaii rigs back in 2014/ 2015. They are very profitable today.

We are not there yet, there's more to come. Just wait.

rdluffy

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Quote from: Piskeante on March 27, 2018, 01:39:42 PM

so, the cryptocurrency is supposed to be decentralized, but in fact the biggest coin (BTC) is the most centralized coin you can imagine.

What the heck......

Yes
GPUs are the best way to make coins decentralized at the moment, easy to buy, everyone can join the game, and is multi purpose, you can mine, game, folding@home, etc

Piskeante

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so, the cryptocurrency is supposed to be decentralized, but in fact the biggest coin (BTC) is the most centralized coin you can imagine.

What the heck......

rdluffy

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Quote from: JcJet on March 27, 2018, 12:11:43 PM

People are being hysterical recently, because of downtrend.
It's easy for developers to make ASIC resistant systems. If not permanent, but they can just make some changes to the algo so new ASIC will be needed. That way maybe only Bitmain will be in proffit, because they mined on these asics before they went public and they're cheap for them.
I said developers, not copy-pasters from shitforks.
Proffitability dropped for everyone, ASIC miners are crying too.

Bitmain are the biggest player, BTC devs don't have balls to change algo and BTC are VERY CENTRALIZED

JcJet

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People are being hysterical recently, because of downtrend.
It's easy for developers to make ASIC resistant systems. If not permanent, but they can just make some changes to the algo so new ASIC will be needed. That way maybe only Bitmain will be in proffit, because they mined on these asics before they went public and they're cheap for them.
I said developers, not copy-pasters from shitforks.
Proffitability dropped for everyone, ASIC miners are crying too.

iTradeChips

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Leading Crypto Sports Betting & Casino Platform

Problem with this issue is that many people are using GPU mining only and are not capable of buying ASIC miners. Too expensive for the average joe to purchase those ASICS miners. Greed drives the powerful so that the weak will lose. Don't let it happen. Continue with the GPU mining.

mbdmbn

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Activity: 146

Merit: 10

GPU mining will never die. Profitability, on the other hand, could be wiped out for a lot of people, depending on their individual electricity/rent rates.

So yea, the title of this thread is sensationalist and it should read something along the lines of, "Profitability from GPU mining will crash/be wiped out, in 2018".

You will "always" be able to mine coins with GPU's even if it is profitable or not.

IsaacBitcoiner

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Quote from: Metroid on March 27, 2018, 06:08:52 AM

Quote from: IsaacBitcoiner on March 27, 2018, 06:00:05 AM

The title may look excessively pessimistic, but you brought up some valid concerns. And I didn't expect it to happen that fast... Look at these Antminers X3, from Bitmain: https://cointelegraph.com/news/bitmain-announces-new-monero-mining-antminer-x3-cryptos-devs-say-will-not-work

And it looks like Monero developers are organizing to strike back: https://www.coindesk.com/crypto-kill-switch-monero-going-war-big-miners/

You see, I did this before this "huge alt coins crash" happened, I already knew this would happen, at that time nobody believed me because profit was very high. Now they are getting together and starting to accept reality, profitability has never been worse, not even when litecoin crashed in 2014 was this bad, matter of fact it was never like this in crypto history and that is mainly to asics cause investors know they can buy coins cheaper from whoever is running asics cause they know asics profitability is 100x, so they want to pay 100 times lower to asics miners. Now if tomorrow eth goes to pos then price would jump 10 times instantly, supply and demand.

Well, one should not doubt when they say that in crypto things happen at a much faster pace.

Do you think PoS, plasma and these other features may prevent the Eth chain from growing astronomically?

agentdosa

newbie

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If mining is stopped in this year, how will the fate of mining in the coming year,
and how the fate of mining is still a beginner whether to continue or stop.

hummer113

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if by the end of the year the price does not rise, then it will be very sad, I will have a very powerful computer. Need to look for the use of graphics cards, industrial video processing, or just will distribute gamers...

agente

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Quote from: philipma1957 on March 27, 2018, 06:37:07 AM

Quote from: Metroid on March 27, 2018, 12:53:53 AM

Quote from: dukemc on March 27, 2018, 12:52:26 AM

I don´t think that GPU mining will die in 2018 --> On some coins that now are worth to mine with GPU yes but GPU mining will ever be present

GPU mining might not die but mining profitability is very close to die and that is ethereum which is the most profitable coin right now per whattomine charts.

#################################################################################################

How low can eth's profitability get, right now if you pay lets say $0.2 for each kw which is most of the world, earnings per day with 30mhs 24/7 is only $0.15, now take another 30% which is what usually pools steal from you then that goes to $0.10. Return of investment right now is 4000 days which is more than 10 years, how low can eth's profitability go? amazing how low it is right now. I'm so negative about things and yet I have never considered this unless asics are in the eth network which I'm 100% certain there are.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.2&hcost=450.0&commit=Calculate

If this crash had happened a little after the fork lets say in November then things would not have been bad like this. The problem is bitmain and co will never remove their asics from eth network cause as each 30 mhs is giving to gpu miners only $0.10 per day, bitmain and co asics are earnings 100x more than that.

The only way forward for eth is going pos right now or change algo, that will give profitability back a little to gpu miners or maybe the best thing is to move to hybrid pow with changed algo and pos, killing off bitmain and co asics is the only way to move forward if still pow.

a 350 watt 2 card 1080ti now earns 2.50 usd a day burns 8-9 kwatts at 20 cents that is 1.60 to 1.80 in power cost net is 70cents

x 3000 days = 2100 usd a long time for roi.

In my case gear is paid off so it earn 21 dollars a month after power in the summer

and power is 10 cents is the winter so it earns 1.60 a day at the moment or 48 a month.

At that price I can run the gear making 21 x 5 = 105 and 48 x 7 = 336 this is a 441 profit each year.

I have 24 1080tis so 12 x 441 = 5292 a year

but all my gear is paid off if you did not pay the gear off and you have 20 cent year round power you are fucked at the moment.

5k a year today! Don't worry.. tomorrow you will be less.

rdluffy

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Quote from: preda on March 27, 2018, 07:11:14 AM

well you have to resist in this moments... when mining is very profitable you have to save some money for electricity cost like i did... for 4/5 months its already paid by old mining!

But the problem now it's not the value of coins, it's Asics, I really believe miners will leave and people who believe in decentralization will leave cryptos too

preda

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well you have to resist in this moments... when mining is very profitable you have to save some money for electricity cost like i did... for 4/5 months its already paid by old mining!

philipma1957

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'The right to privacy matters'

Quote from: Metroid on March 27, 2018, 12:53:53 AM

Quote from: dukemc on March 27, 2018, 12:52:26 AM

I don´t think that GPU mining will die in 2018 --> On some coins that now are worth to mine with GPU yes but GPU mining will ever be present

GPU mining might not die but mining profitability is very close to die and that is ethereum which is the most profitable coin right now per whattomine charts.

#################################################################################################

How low can eth's profitability get, right now if you pay lets say $0.2 for each kw which is most of the world, earnings per day with 30mhs 24/7 is only $0.15, now take another 30% which is what usually pools steal from you then that goes to $0.10. Return of investment right now is 4000 days which is more than 10 years, how low can eth's profitability go? amazing how low it is right now. I'm so negative about things and yet I have never considered this unless asics are in the eth network which I'm 100% certain there are.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.2&hcost=450.0&commit=Calculate

If this crash had happened a little after the fork lets say in November then things would not have been bad like this. The problem is bitmain and co will never remove their asics from eth network cause as each 30 mhs is giving to gpu miners only $0.10 per day, bitmain and co asics are earnings 100x more than that.

The only way forward for eth is going pos right now or change algo, that will give profitability back a little to gpu miners or maybe the best thing is to move to hybrid pow with changed algo and pos, killing off bitmain and co asics is the only way to move forward if still pow.

a 350 watt 2 card 1080ti now earns 2.50 usd a day burns 8-9 kwatts at 20 cents that is 1.60 to 1.80 in power cost net is 70cents

x 3000 days = 2100 usd a long time for roi.

In my case gear is paid off so it earn 21 dollars a month after power in the summer

and power is 10 cents is the winter so it earns 1.60 a day at the moment or 48 a month.

At that price I can run the gear making 21 x 5 = 105 and 48 x 7 = 336 this is a 441 profit each year.

I have 24 1080tis so 12 x 441 = 5292 a year

but all my gear is paid off if you did not pay the gear off and you have 20 cent year round power you are fucked at the moment.

b9ron

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Vitalik say last year : full deployment of PoS will be delayed by 3 to 5 years because of sharding and other projects.

What comes in 2019 will be an hybrid system, some kind of public beta : PoS at 1% and PoW 99%.

Metroid

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Xtreme Monster

Quote from: IsaacBitcoiner on March 27, 2018, 06:00:05 AM

The title may look excessively pessimistic, but you brought up some valid concerns. And I didn't expect it to happen that fast... Look at these Antminers X3, from Bitmain: https://cointelegraph.com/news/bitmain-announces-new-monero-mining-antminer-x3-cryptos-devs-say-will-not-work

And it looks like Monero developers are organizing to strike back: https://www.coindesk.com/crypto-kill-switch-monero-going-war-big-miners/

You see, I did this before this "huge alt coins crash" happened, I already knew this would happen, at that time nobody believed me because profit was very high. Now they are getting together and starting to accept reality, profitability has never been worse, not even when litecoin crashed in 2014 was this bad, matter of fact it was never like this in crypto history and that is mainly to asics cause investors know they can buy coins cheaper from whoever is running asics cause they know asics profitability is 100x, so they want to pay 100 times lower to asics miners. Now if tomorrow eth goes to pos then price would jump 10 times instantly, supply and demand.

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