Topic: Is Cryptocurrency Mining Dying? GPU vs ASIC | VoskCoin Crypto Farm | August 2018 - page 2. (Read 1840 times)

If you generalize from Obelisk situation, then yes looks like a negative situation.

I saw the pole result so far and si somewhere around 50/50. I gues those people who voted that crypto mining is dying are new in this business
Let's not forget, this has happenede before and i think that it has more cycles to go around before it is finished.
Until there will be a viable solution to replace PoW, nothing is dead...is just not profitable at this prezent time (actually is still profitable).

Thats a  ridiculously stupid analogy GPUs that sell first batch like that are usually sold to enthusiast gamers who must have the fastest gaming system  money can buy .

this has nothing to do with roi , it has nothing to do with how much money you will make since profit is not the reason games buy the new flagship gpus.

when it comes to bitmain  selling the toasters yes the first batch prices are high based on potential predicted roi

-the problem is What they don’t tell you is that they have 10 more batches plan at half the price which would dilute the current earnings and future earnings of the batch that you bought and first batch so it’s basically false advertising on top of that the pricing is total bullshit.

why do you think it took so long for the l3s and s9s to become unprofitable, the old normal life span of an asic was two solid years of decent profits... assuming you got lucky enough to buy into the rare batch launches.

with the D3 bitmain took up a scorced earth policy that has continued today, thier goal is to be the only game in town, since they mine with thier best hardware for years in advance anyways they don’t care about the current profit or life expectancy of the CURRENT gear they are selling you idiots. 

even know they are probably using thier next gen , eth,cn7 sha256 miners in house on open air boards , In a year or so when they go from making $50 a day per unit they will sale then to you and you will again lap up thier dregs lol

Again... Bitmain is not stupid, they are a business, and they sell the first batch based on estimates of what this "money-printing-machine" will mine over a reasonable length of time.  Plus, there is a scarcity factor of the first batch that will allow a premium price versus later batches.

It's no different than when a brand new GPU series comes out, the scarcity of obtaining that GPU can cause the retail price to exceed MSRP, which is what the manufacturer thinks the card is worth on the open market.

lol nano pool waa small back in the day, they all get large eventually

Well I think you said it in the next message:  "This video is just my farm update and I share my input on the current state of mining and a story to help illustrate my stance on GPU vs ASIC."     Which could easily be shortened to "Mining Farm Update - Current State of Mining and GPU vs ASIC"  Much more informative title, not to mention relevant and not full of fake drama.  I wouldn't exactly consider a good title as "living entirely in the constructs others have created."   Take this for example:  https://www.youtube.com/results?search_query=Is+mining+dying   Do you honestly think any of those videos are worth watching?  Its all a bunch of low quality garbage.  I am giving this as constructive criticism though because I think you have by far the best crypto channel on youtube.  Ironically halfway down the search page is another one of your videos entitled "What its been like Mining CryptoCurrency in 2017 - Bitcoin, Ethereum, Zcash"  Much better title.  I just don't want to see you fall into the trap that all of these other clowns have. 

They sell the first batch high and then slash the prices of subsequent batches, people are on to them now though you would hope /shurg i got 5 k worth of coupons from them for last years s9 and D3 debacle

the A3 was the last straw for me never another toaster here.  Seems they learned a bit with the z9 and E3 but unless they gave me  coupons that refund my 100 percent losses one the d3s , which of course they won’t Im done

@cjmapope

posts like the above is actually what you were talking about we see the same thing in crypto as has bBeing in Stocks for the last 5060 years fired FUD people think if they lineup about crypto and the benefits and mining and in general how much people can make it will scare people away not understanding that there’s millions of people out there people do their own research if they want to mine they will mine lol.

the sad thing these fudsters fail to get is fellow miners gpu and even small scale farms are not the threat lool, even if every onw who had a gpu mined , its minscule hash rate and competition next to the asics.  We see what happend to the monero and etn hashrate when asics were forked out.

basically got so low on etn they had to fork back to get enough validators.  Of course this did nothing to affect the fpga hash which is why profits on xmr are still low.

What are these price gouging tactics that Bitmain is accused of?

Bitmain is a company, and they will sell their product to the cost that the market will bear.  It’s no different than if you go to eBay to sell an old GPU, you research what the going price is for your product, what price are they actually selling, and maybe drop a few dollars or cents to make your sale a little more attractive.

I never count the $ when mining.
I count the altcoins.
When the mined coins price is up, just sell it

if im 1 cent in the green per day then im still in business

I don't think that cryptocurrency mining is dying the same way i don't think Bitcoin is dying.
There will always be competition in the space, new projects are born, new ideas are in development.
More adoption + new coins =  mining! ... just a matter of time before we gonna have big gains again...IMO.

All I know is I make 3-4 bucks per machine a day after electric expense of roughly 2 bucks so that = 6$ per machine.  YOU might not make 6 bucks total a day but I do.  28 cents is stupid, i pay less than half that.  I have owned my equipment for years and while I upgrade all the time, I still make money.  So sux you can't make money doing it but I know I can.

Yep, miners are dumb. He says on an alt mining board. Anyway, go check out other investments, find me one that rois in c. 12 months. Ain't so easy.

Past performance is not an indicator of future results.  The landscape has change.  Your numbers are all out of wack.  I'm making negative each day after electric cost avg of 28 cents.

Saying we make $5-7 a unit is false.  

Your vending machine analogy is stupid b/c the reality is that you gota spend $2000 for a vending machine that will only pump out $1 dollar a day and will be outdated in 2 years.  That means you lose money .

and and difficulty rises with time so therefore you get rekt even more. Miners are dumb

Situation is much better right now than it was in the beginning of 2014. There are a lot of different possibilities to mine having profit and also we have possibility to participate in rendering projects. Profit is not so big right now, but there is a crisis in overall cryptoworld in 2018, that will not be eternal.

Since there are still asic resistant algos available I don't think mining is dying. But profitability is very low in Current market situation. I will try to hodl my mined coins as much as I can.

My thought is this:

2-3 years ago I was making 3 bucks a unit now we are making 5-7$ and people bitch.

Is it harder hell yes, is it less profitable not really.  Especially if you paid for all your stuff already  

The people that jumped on last year and were making 20-45$ a day but paid exorbitant prices are crying but all the old timers have seen it before.  We knew, or should of known, we should be saving that $ because skinny times always come.

The ASIC revolution is stupid but what you gonna do.  

It all boils down to this. If I can put one dollar in a vending machine and it pops out 2 dollars, HELL YES I will sit there all day!  

@marvel

ya i started mining only in 2014 myself, XMR back then+ETH these last few years made it easy, im sure were all just spoiled now

i think we were getting alot of adoption tho with gpu mining as ANYONE could buy a "legal money printer" with as little as 200$, and it could help supplement their life expenses, while they could be a part of something. i really liked it that way. whats mininum to start a mine now? under 0.10 cents US for power and like 20,000$? : /
and now its so much more cutthroat. i think theirs no denying that the COMMUNITY we had in bitcoin has changed : / specially even the mining board itself
people used to WANT to help eachother, NOW its suggested by people to keep to themselves the best profits for fear of losing them

miners in the trenches silently backstabbing eachother anyway they can, while the prissy guys that cant take the trenches sit on twitter being self proclaimed "experts" to sell garbage to the masses
bitcoin is a mess now,this forum becoming a joke and the GPU mining "community" is dead.  i bet the XMR guys are even feeling it :/

I still don’t buy all this doom and gloom, yeah its not profitable as it was , thats partly due to the massive pump
we had last year.  Crypto delights in pump and dump cycles , been this way since 2013 , ppl should be immune to it by now.

Before eth came along we were actually in a worse situation, there was nothing to mne at all for gpus , and I mean NOTHING.  when I read thier whitepaper I knew it would be good to mine so I bought sone 280 rigs for thier launch. 

Only mistake I made is selling ether to cover electric costs and build out larger.  Lessons learned...

When eth goes pos , there will be another launch of pump of a gpu only (st least for a while) coin to take its place,
maybe eth clasic or metaverve fork to progressive pow , whatever. 

there are too many gpus out there , too much potential hash power and cryptographic potential our there for grabs for a new or existing player not to tap in to.

Bitmain is the only real threat to this, if they ipo and gain the ability to compete with nivida and amd lord help ua all