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

You have to be very careful here, people don't like to hear the truth.

Last time I counted, Ethereum mining had 60 times more GPUs than RVN mining. The situation is similar for other coins. If 1/3 of the Ethereum equipment will mine other coins, then the profit there will be minimal, like in 2019.
What will the other 2/3 video cards do?

Not dying, but it also became boring and big players playing field, mostly

As long as Eth mining will continue meaning as long as Eth will not go Pos,GPU mining is not going to die,in fact the prices of GPU-s if you check local or international marketplaces are really high.However in this time when the difficulty of mining Eth is 11.5 P and a 500 Mhsh rig can just do like 30-35 dollars a day is not what it used to be and the profit is slowly going down day by day although it still remains the most profitable coin to mine.

I personally do not believe much in PoS as it has already been said here what is the value behind that,I don't see any real value and you need a large amount of ETH to be staked in order to have a saying how the coin will develop further.I will just keep mining the hell out of Eth and if it ever goes PoS there is RVN,ERGO and ETC as the next best thing to mine so GPU mining can be considered far from dead.

I don't think these PoW algorithm will prosper same as gpu mining, though it sounds good to know that they're doing good because it doesn't cost a lot of energy. That would do something bad at your device like mobile hardware of computer's internal components because it might shorten it's lifespan. We can't further say wrong or right here, but for my best opinion I would still remain in favor of gpu mining rather than other new ways and I'm confident that it won't die as long sustainable returns will continue to progress.

Ethereum will be relevant on any algorithm due to the large number of projects it serves.
The algorithm change was planned at the very beginning, but the miners were given the opportunity to mine some coins.
When investing, it is now better for the project to have a POS algorithm, against the background of green energy, global warming, etc.

Yes apperantly there is some scam coins, and others just fails. But Zclassic I was chocked about, it had a ATH value about $200 back in 2018, then it just dumped all the way to the bottom. I mined a lot of them with my ASIC Bitmain Z9 Mini, it was the most profitable to mine on it, never ROIed because of that

Also SnowGem, I really liked it, had a nice wallet and webpage. One day when I checked CoinMarketCap it was just gone

That is what scammers have been doing since 2010, create new coins from thin air then market them and then dump them prior bullrun ends, repeat next cycle. The coins you mentioned I remember them in 2018, I have not heard about them this cycle around.

I mean I really think POW will eventually become a thing of the past just like dvd outdid vhs and streaming outdid dvd. POS is the next step in the evolution of crypto and people will eventually realize that it is old and slow tech. Look at how slow the tx are on POW chains (with a lot of users) vs POS chains. The future is obvious and these projects need to evolve or get left behing.

Either stocks or PoS coins are made of thin air. They also have a underlying value in a way or another. BUT the value can be highly overpriced, when for example a horde buys massively. But that's with everything, look at some Meme-coins

But, I agree, a PoW coin SHOULD have a more value because it's some work done that isn't for free. But that's no guarantee ofcourse, I have mined ZCL in 2018 and they are almost GONE. Some other coin like SnowGem also, GONE.

ETH going pos will not be any different however most of eth will or was created on pow so it has a lot more chance to survive than the other pos coins. POS coins are like stocks, value from nothing, pyramid scheme. Stocks are also proof of stake hehe but for that to work sheeps have to keep buying in order to increase a value from nothing hehe, reason I never invested on stocks or POS.

It's just a boom and bust cycle, right now is the peak boom IMO. Wait until ETH goes POS 100% and we will see a bust. And then some smart guy will devise another brand new ASIC-resistant algo with new sexy coins. And the cycle will start again. More tokens and POS coins nowadays (compared to POW) are just because no new popular hashing algo.

Nvidia video cards have a hashrate reduction only for the algorithm for mining Ethereum and Ethereum classic and several other coins on a similar algorithm. The Ergo coin is mined with a slight decrease in hashrate.
In other cases, these video cards are not limited.
I think Nvidia has a backup plan to quickly deactivate the LHR.

I'm a miner that stakes some coins like Cardano, Cosmos and Tezos. But the return of staking is VERY low, atleast for me. I calculated if I will invest $5000 into for example Cardano. I will get right now, 21834 ADA (price $2.24). I stake those at 4.91% in Exodus. I will get 1091 ADA ($2445) a year. It will take 20 YEARS to ROI

My mining rigs have ROIed like 5-7 times since 2017-2019. But that's mainly to the price increase, of course.

1. Nvidia do not want miners buying their cards!  Why do you think they started making cards only LHR?
2. There is nothing Nvidia or AMD can do to stop POW even if they wanted to (but actually they don't.  See point 1)

I dont think AMD and Nvidia will allow to pow die do you think they dont count money? Miners are most profitable customers in GPU industry and all GPU history. They did fortune on miners ))) i dont think they will let go valuble customers like miners. Gamers yes but they not profitable as miners so dont worry guys we are valubale customers

For miners, of course, the POW algorithm is better, but you need to understand that miners are maintenance personnel for the network who receive money for their work.
If we look at the hash rate of two pools, and we see that this is more than 50% of the total network hash rate, then this is also crap.
https://miningpoolstats.stream/ethereum
I am against this algorithm..

PoW algorithm keeps coins alive once the bull run is over but in bear market it's bad to stake coins for good returns, people don't actually get it that PoW is better than PoS in every ways, this is why I think ETH will suffer if they abandon PoW algorithm

metroid is spot on.

To all pos = piece of shit

The author of the topic is a big troll.
https://etherscan.io/chart/hashrate
It's funny to talk about the death of mining at the top of the mining hype.
I saw different hash rate predictions, but no one expected such indicators.
Soon there will be 3 times more video cards than on the mining hype in 2018.

I participate in both staking and mining, there is no point trying to argue about which one is better, as for those saying mining is dead well you are blind, even if ETH stop mining in future GPUs will never stop working until no good PoW coins in the market

You can buy a graphics card by MSRP, but you have to be very lucky.
For advertising purposes, large stores sell minimal quantities of video cards at these prices, but the chance to win is less than 0.001%
You need to follow the news from large retailers, but several times I was unlucky to win the lottery for the right to buy a video card.

If this is true why are GPU prices currently off the roof? Can you point me to where I can buy GPUs at MSRP? I guess not, when something is done with it should be worthless and valueless but that's not what's happening right now

Gpu mining is more alive than ever,just check GPU prices and availability of the high end cards,you will see that is very difficult to get a GPU at a decent price and by decent I mean a lot higher than MSRP,right now they are selling double the MSRP or even triple in some places.People are making money by mining Ethereum,Ethereum Classic,Raven and Ergo as the most mined coins right now,all with GPU-s so I don't know where do you find that info that staking is taking over as I don't see it happening anytime soon.

Yes slowly gpu mining are phasing out, almost all recent projects only provide proof of stake, mining equipment are not cheap and in other to get good returns from your mining you must acquire high standards equipment then you talk about the high electricity bills that it's involved,  gpu mining is getting obsolete, a more simpler mining i.e staking has taken over, and most staking are given good apy for no extra cost, why not.

in fact staking is not a form of mining and is perhaps more risky but requires a lower initial investment, in my opinion the gpu mining will continue even after eth has passed to pos, i would not disdain hard disk mining either where the living costs are practically null, gpu mining will continue at least as long as new shit coins to be mined continue to come out

Staking is not mining.
The staking of serious coins is very small. For example, if you are involved in staking Ethereum, then the annual profit is no more than 6%.
Mining brings more profit and less risk.
But if you participate in staking shitcoins, then these are very big risks.

i am mining biased, but for staking coins/non mineable coins value can be created by development and marketing.

there are a lot more people who can't do mining or don't have the ideal circumstances these many people does have power/ a say/ can participate in the crypto space.

yeah they will pump and dump but they must have a good chunk of the supply. the worst ones are the people who can't even pump their shitcoins but have a huge bags waiting for some victims.

It's funny, those pos, defi, or any other token coins I see no value in them, long term all scams and yet look what scammers have done to them, gave those coins value so sheeps can go into a huge parabolic pyramid scheme and then they will simply rugpull them, one by one will simply disappear, scammers know they need to create new coins and then hype them in order for them to earn 1000x, so reason 99% of new coins die once the bullrun is done for, many new coins already lost 99.99% of value and simply died, many more coming once this is over. See defi, pos, tokens from nothing will never be like pow coins, pow coins used value to exist, all others used nothing but hype to exist, long term is only pow, anything else is just scam concerning real value.

You are probably focusing on the POS coins that are being hyped right now like the Solanas, Polkadots, Lunas etc so there is a feeling that POW is missing a big share of the hype, but It doesn't mean GPU mining is dying. New coins that can be mined by GPUs today and seem less profitable could be of so much value tomorrow. I think being among the early miners of the coin and patience is part of the game.

Nope I don't accept this, mining is far from dead if not GPUs won't be over their MSRP value today, bear and bull market wil always have an impact on graphic cards value as far as mineable coins exists, even if Ethereum switch to PoS algorithm in near future other coins are available, even if they aren't profitable to mine like ETH some will prefer to mine in bear market and hold

In 2017 a 300MH on ETH will earn you more than 30$ per day ask around from those who are aware of the insane profits when bull run started in 2017, mining was so profitable at the time even when ETH wasn't as high as today l, do your own research

GPU mining is meant to be the core of all PoW mining ops, reachable to all in theory. I doubt it'll end up soon, no matter if ETH is going to PoS.

As Asics are large scale miners, unsuitable to home/regular users.

I see new PoW coins every day. This question came every month since i started in 2016 and as you see -> gpu mining is not dead.

For me mining is better today than it was 5 years ago.With a simple 300 Mhsh GPU rig I have I am making about 20-23 USD daily.Of course this same amount of 300 Mhsh could have produced more Ethereum back then but the price was cheaper,way cheaper at that time.Also the difficulty now is really high compared to that time but overall I am making more money by mining now that I did when I mined 5 years ago.

For me GPU mining is still long from dead and will continue to be so for some time to come.

What do you think about staking rewards Vs mining rewards? With the looks of things presently I fear that GPU mining is dying cos look around you how many new projects are adopting PoW algorithm? Mining 5 years ago was better than mining today, every new projects are talking about APY returns and staking only, what do you think? Wrong or not?