Topic: Is mining going to die? - page 3. (Read 1129 times)

Really?   You have some home based miners installing separate 200A 3 phase electrical services in their homes for mining. An efficient 6 card 1080ti rig runs at like 1200W, all day every day. Thats a lot of power, and just one example. Not even mentioning ASIC miners, big business (data center) mining, or the resources required to manufacture the all of the required hardware.

Just saying, if you had a coin that doesn't require all of that and is more secure, why wouldn't it be superior?

This energy consumption narrative is garbage.  It is not better technology to not have PoW.  Mining crypto uses like 1/15th of the energy involved with gold mining alone.  Let alone gold transportation or other things involved with the just Gold.

Most of these top non minable coins got their valuation mainly through a completely overhyped ICO in a mania.  ICO have mostly been BS non functional vaporware scams and PoW mostly functional.

There is a frustrating lack of common sense in crypto, and it leads to people not doing research on their own and regurgitating crap.

Gpu mining at home might not last if it gets industrialized,  but crypto should resist that to keep decentralization and censorship resistance.  That which is the only reason crypto is what it is....

In my opinion, mining as we know it is a fad and will most certainly die eventually. Every day miners are expanding their rigs while others get into the game, this will drive up difficulty and reduce overall profits. Meanwhile, new coins are being created with better technology that don't require mining at all because there is a real impact on the environment via energy consumption and a significant amount of raw materials associated with mining. This cant scale into the future.

What happens next is once mining becomes unprofitable, everyone will start selling of their rigs. The used GPU market will be flooded and NVIDIA/AMD won't be able to sell new graphics cards. Meanwhile, good luck selling your BTC Pro motherboad, risers, and expensive mining frames on ebay because nobody is mining anymore.

My advice: if you are mining strictly for quick profit, get out now, sell all of your hardware and put the money straight into crypto. While its true you can make some nice coin right now, nobody can honestly say how long this trend will last.

Don't get me wrong, I think mining will do well in 2018 but I doubt a 6 card mining rig will be able to do a whole lot in a couple years. Just look at where things were just a few years ago when you could mine bitcoins with your CPU.

At this moment in time, I think if you mine and HODL the right coins, you can make some nice profit in the future. As for myself, I have more than a few thousand invested in mining but I do it primarily because I enjoy computers and building / tuning different rigs, my real investment is in the overall crypto market.

Mine with this in mind and stay up on whats going on so you can look ahead and know when to get out. The key is to stay ahead of the rush.

You're still safe for a couple more years at the very least.

It is like dotcom bubble was, when the people will realize that the value of the coins are pure speculation and there is no real value behind them, it will die, but until then happy mining  

Yea, only if cryptocurrency died first , mining is the mechanism that made all this possible , it's written in the bitcoin whitepaper POW is the way peer to peer became a reality , also i don't think any of POS or new way of proof will be better , security comes for a cost , energy is not wasted you pay it for the security of your coins which is real money.

Proof of Stake is garbage. It's far less secure,  unless it's a system where anyone can stake any amount.  Mining also isn't wasteful, that narrative is stupid FUD.

i do not think it is going to die
as there is still profitabilityin some coinjs
like monero and zcash
for exampleif you have over 500hash per second mining machine you will break even daily with zcash or monero
depend on the machine or hardware or gpu cpu  you get and with what price you get them
better try zcash now

It's a long way off dieing, there are always going to be new POW coins that can be mined so I don't see any issues for the next couple of years either.

Yes this is true, mining a the die

Definitely not within the next several years

More like 4 out of the top 10 are not mineable.  All of the top 3 (BTC, ETH, BCH) you can mine.  Ethereum was supposed to go PoS a year ago, so given the extent of the schedule slip, we could still be mining it in another year.

As long as crypto isn't perfected mining will exist. New technology almost always comes in the form of a new mineable alt coin. For example zk-snark.

There will always be miners around until 2140 (estimated) and until all Bitcoin blocks are mined, there is no way denying it. It might not be GPU and just random ASIC mining farms but mining is mining.

Interesting views. In the end, we never know. Maybe PoS will win, but security is very important.

I do not think that mining will ever disappear in modern reality. You can see that there are a lot of new coins with a high production rate (the reason is a little complexity) and if the project is intresting to the community you can earn a lot. At the moment I use Nvidia for mining Kalkulus, the extraction is very good (although to be honest I bought coins too).

I think mining will still be there for few years. Actually PoS will be over PoW, but there's the big gap to fulfill in implement process.
A lot of people said ETH will move to new phase PoS in Oct, then Dec, but yes, it's still just a plan.

Every time mining always grows to top not grow to bottom. IF a coin from POW to POS it's normal situations. Mining and are miners always exist.

Probably not any time soon

Mining will eventually die out. PoS is more efficient, Eco-Friendly, and has much less carbon footprint. Honestly, I hope mining never dies out but I know it's a pipe dream. Technology is always advancing and eventually, PoW will become obsolete and things like Tangle (Iota), Delegate System (Ark, Lisk) and masternodes (Dash, Sys) will replace it.