Topic: Is GPU mining really dying? (Read 1000 times)

I know doesn’t matter how many ETH are staked If they don’t have the process to verify transactions in a timely manner off the people staking. They definitely have enough ETH staking to do it they just don’t have the network yet to be able to.

i'm preparing/already have other sources of income, since i like mining the places where is do things have always "mining" in mind so when/if the next scam POW pump happens, I'll be ready to scale up again.

this mining thing is not constant it comes in ebbs and flows. agility and flexibility is key.

there is a person whom i haven't met in years, asking how to send BTC to a scam ponzi of some type, they told me it is just a small amount of money they are willing to gamble on and lost that money..........i said to my self.. "the top is near or it already topped" LOLOL

Those youtubers are evil, most of them work with scammers and scalpers.

Anyway, enjoy the last bulltrap, because after that the only thing certain is hehell, misery and death for eternity concerning mining if eth goes to pos. You trolls have no idea how many gpus are in ethash right now, where that hashrate will go? nowhere, people will stop mining and sell their 6x msrp overpriced gpus they bought at huge discount of 80% or more because it will be millions of gpus to be sold and nobody to buy because there will be no profit, the 0.1% of miners that will stay/survive, will mine ravecoin and other pow coins at negative profit till next bullrun and dont expect those pow coins to be as profitable as eth next bullrun and i'm not even sure if any of them will be pumped next bullrun, scammers love pumping new coins, lots of tokens created from thin air in few months gone up to such extent that showed scammers that is the way to go, aggressive marketing to get sheeps/idiots in their project then wait bullrun end and then dump/kill that token and then next bullrun create new token, hype, market it and then scam sheeps again, rinse and repeat.

Mining is already dead. It died the day ETH announced the roadmap for ETH 2.0 and going PoS just back a few months ago. They are planning on doing it, and they will do it. It will take 4 or 6 or even 10 months more (i think it will come in just about 5 months)

let's face it. The pump the youtubers have been giving to mining, the enormous amounts of videos in Youtube showing you how to do it (destroying the access skill necessary to set up a rig) and plus telling them how much money they were making for doing nothing but sitting in front of their computer watching their bank account grow bigger, HAS DESTROYED all the rest. Every single one of you is making less money every day, since we are getting less ETH everyday. There is no point in telling you my example. Everyone knows this is a fact.

I've been mining since 2017, with a natural -50% during bear market in 2018 when my electricty cost was higher than my income.

PoS is going to come, and THERE IS NO COIN that can cope with the atrocious amount of hashrate that it's already in ETH. No coin will survive the flood, and only those with already roi'd solar panels will be able to continue mining. Mining goes where there is a coin profitable. ANY , ANY , ANY COIN profitable will get absolutely recked the day after ETH goes PoS. This is a fact.

80 to 90% of all the small miners will have to capitulate, unless mining at a loss hoping for that coin to pump. Mining follows prices. Mining does not create value. it's the other way round. Value attracts mining. Not mining attracts value. If this was the case, every PoW coin would have big prices. And this is not what we see.  Plus the remaining PoW projects are just either too small, too undervalued or just too young to show a potential increase in value.

There will be no mineable coin that can do what ETH has done. Miners will NEVER EVER SEE anything like what we are living. 2022 will be our final. Now , the real deal , at this point is to sell your hardware at highe prices calculating how much money you can make mining ETH until it goes PoS to how much you can get by selling them. I have cards that i bought for 300$ that i can now sell for 900$.

If you think you are going to live from mining once ETH goes PoS i would say you are either an ignorant, or a mad guy. This is no future with this enormous amount of Hashrate. The flood will destroy it all.

Good luck.

Miners are not interested in coin staking.
Ethereum's staking profit is very small.
The most important thing in mining is to find cheap electricity, and if this is not possible in your country, then it is better to do another business or invest in mining projects in other countries.

I think it's not about dying or not, many tokens, coins, having their own way to mine. Most of them using POS or Proof-of-Stake, or POW, and they have their own positive and negative sides.

So, No one will die, but more efficience the minibg process, it will alive till long time, let's talk about staking, many tokens will run for a long time, because they don't need another device, the systems will not be broken, so That's what I think

I've been running 130 GPUs since 2016, I'll mine until the cost of electricity is more  then I mine, then maybe sell the GPUS.  No use in try to overthink time things, if sold all my gpus in 2018 - 2019 I would have regretted it.  When mining stops I'll still have my BTC to HODL forever.   

Follow Ethereum.
Now in the world there are no coins for mining that can take away the entire hashrate of Ethereum.
There was a lot of talk about a new coin, but I think that there could be several new coins to distribute most of the hashrate, and most importantly, make old video cards unprofitable.

i'm feeling this situation same as you, and many miner should be the same, when no mineable coin can handle if eth switch to pos

many coin developer dont not favor in gpu mining anymore, even zcash want to move pos like eth did, yes old coin only mineable with asic, for small miner we can switch other coin easy

It is not dying but profits are going down every day and there is only one reason for that,extremely high difficulty in Ethereum Network which is over 12 P now or near it.For the same hash rate of a 5-6 GPU rig we make like 3-4 dollars less daily compared to October.I don't know the situation for other coins but Ethereum that is the most profitable is in this kind of situation.

Well you are not looking enough, kadena is one of the newest crypto projects since 2020 to present time and they adopt pow mining algorithm, there are few others too, the only thing that can make the worst to happen is bear market but if there is some balance in market mining will be a good option still.

I think the very act of mining a coin is what creates it's value. The time, energy, and faith that people invest is what creates a long term value.

I think those phases and tenure of a coin are required to create something as beautiful as ETH and BTC are right now. These coins started as something practically worthless, but people didn't care. They weren't making fortunes at that point. They were just average people, but they endured. They invested their time and energy because it made sense to them... They had hope that some day it would mean something, and it paid off big time. Just because ETH is going PoS, that dream isn't going to die. People are just going to find something else to mine, and the cycle is going to repeat itself.

Yeah and what will Nvidia and AMD do if ⅔ of the miners sell cards on the cheap at ebay reddit craigs list etc?

they will either talk to mr v and tell him to delay pos or they will launch 🚀  a coin to be mined.


now you are correct if eth does go pos and amd and nvidia dont support a new coin

and I would be correct if mr v is pressured into keeping pow alive. or a new coin comes a long.

how about etc gets pumped bigly.

do the math what does it take to pump etc and dump on eth.

Hardly to say when gpu miner only left few mineable coin these day, and many new project mostly deploy on above other chain, specially we re on silicon shortage, and concerned for green industry another hit for miner industry

Crypto mining is more reliable right now that past years where there was fear about the future of crypto, today crypto is more supported and more popular and also there are new projects still supporting pow algorithm like the new kadena project, GPU mining is very much alive mate

Now there are so many crypto mining projects around us that we can't get more crypto. In the past, crypto mining was not too much so that we could earn more because the coins we mined were still fresh to mine.
At this time it is difficult for us to mine large amounts of crypto, even though there is a small amount of crypto that is mined, we still benefit because cryptocurrencies are now very expensive than in previous years. After the price of bitcoin and ETH has become very expensive, the price of the GPU also becomes expensive because the miners will definitely get a bigger profit if they use the GPU to mine Bitcoin or ETH.

This was only possible with the first revision of the LHR video card 3060. After the miners found out that the video card was 3060, the miners stopped buying it.
No one doubts that Nvidia always has a backup plan.
Their reports say that most of the video cards are bought by gamers, this is very funny.

i understood it when Nvidia accidently published driver 470 for rtx3060 that mining 48Mhs .because 26mhs was not interesting to any miner after that driver boommmm all 3060 sold out come on guys company like nvidia will accidently publish unlocked driver?

in my opinion the gpu mining will go on for a long time until new coins come out with a pow algorithm, and then as long as we can still mine eth (a year?) we can also get good earnings

yes i feel that gpu mining side dying out without new algo dedicated for gpu mining, if eth fully switched we are doomed, no many left gpu mineable coin can accomodate

those gpu farm out there at current state, but smaller miner still doable, with standar or lower electric prices, hope some developer bring another mineable gpu algo