It's impossible to predict. Every single year there are new and new algorithms added which are still relevant, in the future, it will be the same. Try to find cheap electricity, and your GPUs don't be unprofitable at least several years.
Topic: Is it official that GPU mining is guaranteed to be irrelevant in 2 to 3 years? - page 3. (Read 1370 times)
August 23, 2019, 04:41:17 AM
August 20, 2019, 01:55:30 AM
adaseb and Regulator: very well put. Still hesitant about my next move being that I already invested in a brand new 8GPU RX580 rig with a 2yr ROI. If I do build another rig it will be Nvidia based since it looks like Nvidia can run way more algorithms at a profitable rate. Also looking into making the RX580 more efficient by possibly investing in solar to cut down electrical costs, so far it seems like it would take 20K worth in solar equipment to run the 1050w 24/7.
Nvidia is definitely the better way to go. If you were mining RVN from April 2018 to April 2019 you would have received atleast a 3x on your investment. Nvidia is better at far more new coins and algos. Solar is definitely worth it if you are looking to purchase. Just make sure to check your state rebates too. I purchased a 12kw solar system for 20k after rebates with a 20 year warranty. It produces around 20 MWhs (20,000 kWhs) yearly where I am located. Which would be around a 2250 Watt continuous load that the solar pays for. August 19, 2019, 10:28:48 AM
adaseb and Regulator: very well put. Still hesitant about my next move being that I already invested in a brand new 8GPU RX580 rig with a 2yr ROI. If I do build another rig it will be Nvidia based since it looks like Nvidia can run way more algorithms at a profitable rate. Also looking into making the RX580 more efficient by possibly investing in solar to cut down electrical costs, so far it seems like it would take 20K worth in solar equipment to run the 1050w 24/7.
August 19, 2019, 03:36:25 AM
For what is worth, we will soon finally see nvidia xx70 around $200 again.
August 19, 2019, 03:14:21 AM
The only thing GPU's had was its ability to mine different alt coins. As GPU's and FPGA's are now on 7nm there is very little advantage for GPU left. One gets multi-algorithm ASIC already so I don't see any hope for GPU's. Even the holy grail ProgPow which is designed to work specifically on GPU's and utilizes all of its functions can have an ASIC that is x1.5 more efficient. Think, ProgPow-ASIC Farm with low-cost power will, therefore, beat any home miner with GPU's. We are just back where we started.
August 18, 2019, 06:29:42 PM
Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.
In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)
btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/
If this happens and eth goes progpow good times.
August 18, 2019, 06:24:53 PM
I stilling mining with my 90 GPUs with cheap electricity. To be long term profitable you have to have low electrical cost. With .04 kwh electricity I have not had a month when I didn't make money for the past 3 years. But right now the profits are pretty low to buy new gpus if we hit a bull run then its all good, if not you could sell your gpus and recoup a lot of the cost.
August 18, 2019, 05:36:07 PM
Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.
In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)
btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/
From what I remember Vertcoin was released shortly before the 2014 bear-market started and I think it was like 20% more profitable than LTC/DOGE however many people had issues with stability on Vertcoin.
It used slightly more power and was more intense on the GPU. Most people who used the 280X in those days already had trouble keeping their 350Watts GPU power hogs stable and with Vertcoin it just made the matters worse.
However it still was profitable for the month or so when it was released. But shortly after all the alts including BTC started to decline when $900 support broke.
August 18, 2019, 05:25:28 PM
Face it trolls, gpu mining is dead and has been since January 2018.
As others wrote - mining at loss is the way to go 
August 18, 2019, 03:31:36 PM
Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.
In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)
btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/
August 18, 2019, 11:31:19 AM
GPU mining is likely to stay relevant. ETH mining may be gone, there are other alcoins that are suitable and dominated by GPUs. I see ETH GPU miners will gradually move to mainly cryptonight coins or other ASIC restricted coins such as scrypt DynDiff coin NewEnglandcoin (NENG).
August 18, 2019, 08:06:29 AM
Even today you can still find plenty of coins, both old and new, that you can realistically mine with GPU only devices. In fact,,, looking at those mining software like Minergate or CudoMiner you can see, there is still profit to be made even for total newbies. Small profit, today, but if you use a hodl mentality then it could go x10 in several years (so this is an investment). Not irrelevant, just less relevant.
August 18, 2019, 07:43:46 AM
I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.
So you'll happily pay $3 for something that's worth $2? What crazy logic is that?Don't mine at a loss. Ever. If you still want the coins, turn off your rigs and buy them. Anything else is stupid.
I don't see it as black and white as you see it.For me mining is also a hobby and I can pay electricity of 45 Usd for a rig without being a limit to me, my payroll is enough to cover all my needs and even save a bit.I will only buy Bitcoin when the price will be 3000 Usd again if it ever will be but I don't think it will.
August 18, 2019, 06:43:16 AM
I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.
So you'll happily pay $3 for something that's worth $2? What crazy logic is that?Don't mine at a loss. Ever. If you still want the coins, turn off your rigs and buy them. Anything else is stupid.
August 18, 2019, 03:56:55 AM
Face it trolls, gpu mining is dead and has been since January 2018.
August 17, 2019, 05:05:13 PM
I think that we cannot really predict that but based on the data we are having now,mining with GPU-s will be only for people who will mine at a loss and believing in the long term return.People looking for that quick buck I think will be gone by the end of 2-3 years.
I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.
I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.
August 17, 2019, 04:53:03 PM
It's impossible to tell if GPU or ASIC mining will be completely unprofitable in the future.
Many people assumed that CPU mining was dead when there were GPU miners released for Bitcoin. Then other coins became CPU mineable.
Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.
So it's impossible to predict.
Many people assumed that CPU mining was dead when there were GPU miners released for Bitcoin. Then other coins became CPU mineable.
Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.
So it's impossible to predict.
August 16, 2019, 11:37:20 PM
I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?
I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).
I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.
Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.
If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?
I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).
I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.
Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.
If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.
Its just like with BTC, LTC, Eth, etc. saying GPU mining is dead. Even saying FPGA mining is dead and here they are doing FPGAs again. GPU mining is like a rollercoaster, up down up down. If your buying Nvidia graphics cards then dont worry about Eth. Nvidia has many other profitable coins and they go up and down. Many coins want to stay GPU friendly so it will always have profitable algos in the future. Also those prices are really high. 6 GPU 1080 systems only go for around $2000. So for only $4000 (200 above your $3800) you could get 12 1080s plus the case, mobo, etc. plug and play.
August 16, 2019, 10:12:52 PM
You noobs need to understand mining is like investing in a gold mining company where you get taxed daily on the income and not actually investing in the gold directly which is tax free when you buy.
That means you will get less gains if you mine crypto instead of buying coins if the market goes up. You however will also get less losses if the market goes down, so your hedged by your mining gear assets and can offset any mining daily gains with your operation expenses.
Yes roi is bad for gpus and it makes sense. A lot more people and average Joe's, gamers, etc, have access to gpus compared to Asics so GPU mining is an overcrowded market and a race to the bottom where those with the cheapest electric rates will survive another cycle.
So start getting used to it. It won't get any better just will keep getting worst as the Data has shown for the past 1.5 years till your hardware is outdated and have to reflect do you want to buy more gear and do it all over again. So stop nerding out on GPU gear ,not everyone can win in crypto if your doing what most are doing. Theirs gonna be a lot of miner moonboy tears these next few months when your alts will dump even more and roi extends further out to 2-3 hardware generation cycles
That means you will get less gains if you mine crypto instead of buying coins if the market goes up. You however will also get less losses if the market goes down, so your hedged by your mining gear assets and can offset any mining daily gains with your operation expenses.
Yes roi is bad for gpus and it makes sense. A lot more people and average Joe's, gamers, etc, have access to gpus compared to Asics so GPU mining is an overcrowded market and a race to the bottom where those with the cheapest electric rates will survive another cycle.
So start getting used to it. It won't get any better just will keep getting worst as the Data has shown for the past 1.5 years till your hardware is outdated and have to reflect do you want to buy more gear and do it all over again. So stop nerding out on GPU gear ,not everyone can win in crypto if your doing what most are doing. Theirs gonna be a lot of miner moonboy tears these next few months when your alts will dump even more and roi extends further out to 2-3 hardware generation cycles
August 16, 2019, 09:30:24 PM
I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).
I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.
Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands?
I would still build a new rig for sure. Having nvidia and amd rigs, i can tell you amd rigs right now are kind of limited to a few profitable coins.
Nvidia is the best choice, tons of coins to mine and more popping up every day. Try to get best performing nvidia cards on the various flavors of equihash.
Just keep mining.
When the whole crypto ecosystem goes up a lot in prices, would you prefer to already have the coins to sell or start buying equipment when half of the world will be buying and mine when half of the world is mining. I wouldn't.
About the future of mining, don't see it ending in our lifetime. Just getting more and more profitable.
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