Is mining going to die soon? - page 5.

dhouse

jr. member

Activity: 266

Merit: 2

Quote from: fanatic26 on February 05, 2018, 07:13:20 PM

1. Ethereum is not synonymous with the entire gpu mining ecosystem, it is just one of hundreds of coins.

2. ETH devs cant even get PoS working on their test net. You *might* see it by 2019 at this rate, but even then its just a hybrid system that is 10% PoS and 90% PoW still.

3. ETH, ZEC, and many other GPU algos are asic resistant. They are specifically built to not work with ASICs, and devs have come out saying they will change the algo if someone does figure out how to make an ASIC so its not even a concern.

4. ASICs can mine a single algo, but not a single coin. Theres a good dozen coins a sha256 miner can mine.

5. Dont invest any money into mining that you cannot afford to lose. Mining takes a large investment to properly get started. You shouldnt be mining and exchanging all of your coins, you should be mining and hodling as much crypto as possible. This is not a short month to month profit game, this is a long term slow play kind of thing if you want to make any real money.

^^^everyone read this carefully.

also, I had no idea eth wasn't moving to 100% pos. can you show me where you saw that? it seems like there's no point to making a change like that, why not just keep it 100% pow?

fanatic26

hero member

Activity: 756

Merit: 560

1. Ethereum is not synonymous with the entire gpu mining ecosystem, it is just one of hundreds of coins.

2. ETH devs cant even get PoS working on their test net. You *might* see it by 2019 at this rate, but even then its just a hybrid system that is 10% PoS and 90% PoW still.

3. ETH, ZEC, and many other GPU algos are asic resistant. They are specifically built to not work with ASICs, and devs have come out saying they will change the algo if someone does figure out how to make an ASIC so its not even a concern.

4. ASICs can mine a single algo, but not a single coin. Theres a good dozen coins a sha256 miner can mine.

5. Dont invest any money into mining that you cannot afford to lose. Mining takes a large investment to properly get started. You shouldnt be mining and exchanging all of your coins, you should be mining and hodling as much crypto as possible. This is not a short month to month profit game, this is a long term slow play kind of thing if you want to make any real money.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Mining won't die, but if the current price drops and resulting profitability drops continue, we probably will see some retrenchment and SOME of the "quick profit" types start dropping out.

I'm right on the edge of shutting down my A2 farm, even though Litecoin (like Ethereum) has not dropped as much from ATH as Bitcoin has.

baga105

sr. member

Activity: 362

Merit: 250

Quote from: encryptblockr on February 05, 2018, 06:35:26 PM

Quote from: baga105 on February 05, 2018, 06:30:21 PM

Quote from: encryptblockr on February 05, 2018, 05:26:39 PM

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

True but just showing the huge performance difference for ppl mining specific algo
amsure may people mine specific coin like zcash, ethereum, litecoin etc..i mean those are the major coins anyways
so imagine an ASIC for those? that is not even close for GPU

for me am still GPU because coins am interested in dont have ASIC

There is no such ASIC for those kind of coins (Equihash, Ethash.. ETc)
And i guess there won't be any ASIC regarding those algorithms. Why?
1. Because Nvidia and AMD can close the factories then
2. All GPU miners will switch to some other algorithms and they will kill eachothers profits..

So if you are asking me, there will always be CPU/GPU mining.

Thats only my opinion.

encryptblockr

newbie

Activity: 84

Merit: 0

Quote from: baga105 on February 05, 2018, 06:30:21 PM

Quote from: encryptblockr on February 05, 2018, 05:26:39 PM

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

True but just showing the huge performance difference for ppl mining specific algo
amsure may people mine specific coin like zcash, ethereum, litecoin etc..i mean those are the major coins anyways
so imagine an ASIC for those? that is not even close for GPU

for me am still GPU because coins am interested in dont have ASIC

baga105

sr. member

Activity: 362

Merit: 250

Quote from: encryptblockr on February 05, 2018, 05:26:39 PM

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

encryptblockr

newbie

Activity: 84

Merit: 0

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

encryptblockr

newbie

Activity: 84

Merit: 0

Quote from: flip4flop on February 05, 2018, 04:13:01 PM

These questions are just post fodder. The same question every week or every time the market dips if something else happens. There are hundreds of coins to mine so ETH going to PoS whenever that happens is not going to kill mining.

Do you think it will affect?
Understand ETH is one of the major coins and most alts try to follow what the major coins are doing
also with many forks and airdropd and swaps
it is easy to diverge from POW to POS

SoNiC_77Gr

newbie

Activity: 16

Merit: 0

Quote from: CryptoWatcher420 on February 05, 2018, 04:23:35 PM

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

here some advise, do you own research and figure that out for yourself instead of trying to go by someone else opinion. if shit hits the fan youll try and blame them for giving you shit advise when you should have done the research yourself

You have right in that point! I did a research from October 2017, but this thing now seems so unstable and I'm just asking an opinion from someone that is in this stuff way back before me.
As it seems right now it's not worth it to get in to this.. it's a big big choice in a very hard time!

CryptoWatcher420

sr. member

Activity: 462

Merit: 258

Small Time Miner, Rig Builder, Crypto Trader

Quote from: SoNiC_77Gr on February 05, 2018, 04:19:49 PM

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

here some advise, do you own research and figure that out for yourself instead of trying to go by someone else opinion. if shit hits the fan youll try and blame them for giving you shit advise when you should have done the research yourself

SoNiC_77Gr

newbie

Activity: 16

Merit: 0

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

flip4flop

full member

Activity: 378

Merit: 135

These questions are just post fodder. The same question every week or every time the market dips if something else happens. There are hundreds of coins to mine so ETH going to PoS whenever that happens is not going to kill mining.

encryptblockr

newbie

Activity: 84

Merit: 0

Quote from: Kozlov on February 05, 2018, 03:57:21 PM

Mining is a hobby, and if it's profitable then that's a bonus for me.

At the moment I have a few small rigs, some 570s, 1070s and a 1070ti. Also an old R9-390 doing a bit of work.

You mind if i ask you what mining software you using for your R9 390?
and what coin are you using it to mine?

Kozlov

full member

Activity: 212

Merit: 100

Mining is a hobby, and if it's profitable then that's a bonus for me.

At the moment I have a few small rigs, some 570s, 1070s and a 1070ti. Also an old R9-390 doing a bit of work.

BennyT

full member

Activity: 259

Merit: 108

I don't get why GPU mining would die right now. It provides a service, GPU's are needed to do the work, and it's profitable. Everyone who says it will die is just going off the FUD of the market, not describing in any credible business sense why it would "die".

Miningtry

newbie

Activity: 96

Merit: 0

You can always mine for fun look on mining like a hobby.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: Oakey22 on February 05, 2018, 12:17:26 PM

Mining is already dying on GPU's, ASICS are the future it seems. I honestly think ASICSS are making crypto centralised more and more though as normal people cant get hold of them because they cost so much

So true, nowadays few mine bitcoin and many other coins, with cpu's, gpu's, anybody can mine it, asic only few. I'm not sure if gpu mining will survive 2018.

doktor83

hero member

Activity: 2548

Merit: 626

dark days are coming only for people who want to start the mining software and wait to get rich.

Andrey2301

jr. member

Activity: 714

Merit: 1

Hello! Which is better to buy a miner ?? or wait until bitcoin is 50k?

hack4love

newbie

Activity: 152

Merit: 0

Can someone explain to me how to do anything with dropping in price like that eth drop 100$ every 3 days

Topic: Is mining going to die soon? - page 5. (Read 1843 times)