Topic: Low profit mining, something is about to change? (Read 2946 times)

Mining has actually emptied the stocks before.
Im sure some of the q1+q2 2016 gpu sale boom is related to this.
Right now there are equivalent to 400 000 R9 380's mining ETH/ETC.

Ofcourse this isnt their main market at all, but high end cards and availability has been affected twice by mining.(2013 2016)


The only way gpu mining survives next year is either by someones massive investement, or some new coins with investors willing to tank and lose cash.


https://www.cryptocoinsnews.com/cryptocoin-mining-caused-worldwide-shortage-amd-radeon-graphics-cards-gpu/

Why do you think AMD would invest in any coin ? Yeah you think It's nothing to them, but they are all about profit. Investing in coins is same as gambling, do you think any company would like to gamble their money in order to make crypt world a better place for miners? Yeah right.

Listen AMD, Intel, Corsair, EVGA, etc they NEVER buy any type of Bitcoins or Altcoins to boost sales of their equipment. It would be like investing $100 to maybe make $1 in revenue in return. No idea why everybody keeps suggesting this theory.

Ofcourse downpaid equipment has some time left to harvest profits.

But we all know that ROI has gone up hundreds of %.

Compare it to january last year... you had like 1 month ROI .. now its 5-8 months. And within that time ROI has gone up more making it slide out of reach eventually.


To keep going or get ROI down, there needs to be some massive investments in coins.

Surely.. if say AMD bought 10 mill dollars in diff altcoins, which is nothing to them, miningprofits would explode again.
The ETH investment is used up and running on fumes. When ETH goes POS the other mining coins will be slaughtered as the reward will be split among them all.


Mining is still profitable as we clearly see on whattomine.com/coins
But ROI and investing in gear at this point is simply high risk and needs big investments to make big profits.
I would not buy a mining farm today.

"All the rigs with 280s and 380s will die first. Then 290s and 390 and furies will die. Then nvidia rigs will die. Only RX470s and 480s will be remotely profitable for some time and then those will lose profitability too. Its gonna be cruel for newer miners who invested a few days to months back in new rigs."

The problem with this statement is that the 280's and the 380's and the associated hardware are most likely paid off. So their profitability is only determined by electricity cost.

The other unknown is a potential last minute flurry of gpu hacking to improve (hash rate/watt).

Keep in mind Vega is launching in few months. So be preapred that both ETH and zcoin market will get destroyed by then.

 Odd, I've been maing a profit at it sufficient to LIVE on for a few months now - and I don't own a "huge mining farm".

 Just because YOU probably live in an area where electric costs are high doesn't make it "dead since years" for everyone.

Mining is dead since years. Even with new coins you don't have any chance to mine a good amount of a coin if you don't own a hughe mining farm. Mining is a waste of time and energy.

Any idea about a potential great coin?

 After ASIC took over Scrypt mining, GPU mining quickly became UNprofitable on ANY coin unless you had very low electric costs - and marginal even then.

 The next few months is probably going to be a slow slide into that range - I don't see ANY reason for ZEC pricing to ever climb as more than a "pump and dump" spike, ETH has too many issues to see a serious climb before they go POS, and I don't see any fundamental reason for any other Altcoin to make any significant price climb for the medium term, much less the long term.




 NVidia isn't significantly better on the CURRENT miners to AMD on either a hash/watt or a hash/$ basis - still looses by a little on hash/$ and you have to lock yourself into NiceHash to even manage "close" right now.
 

 280/280x/290/290x and 3xx equivilents will go unprofitable at pretty much the same time - they all show VERY close numbers on hash/watt.


 At CURRENT numbers, NVidia 10xx and AMD RX rigs should stay profitable 'till almost exactly the same point - but future miner upgrades will possibly change that, and it depends on the coin as well - though basket balancing will keep the profitability close on all of the currently mineable coins 'till ETH goes POS, then it'll be a scramble for a bit then a new much lower profitability balance will happen.



 Anyone talking about a 2 month ROI though is either insane, or (more likely) COUNTING on selling off the used rigs or at least the GPUs from them to achieve ROI once they're done mining on them.

 Keep in mind though - a rig that is sellable as a GAMING rig needs a good CPU in it - something most mining rigs don't bother with.
 A good gaming rig also needs a bigger HD/SSD (FORGET about using a USB pen drive on a GAMING rig) and more RAM than most mining rigs bother with, but mining rigs TEND to be closer on those factors.

 Gaming rigs also need cases - many or most mining rigs don't bother, but that's not all that hard to "fix".

good joke, but nvidia is currently king in zcash mining, so no 1070 and 1060 will not die, only old shitty amd gpu will die, which was time by the way, you can't expect to mine forever with the same gpu

a 470 is no better than a 1070 in zcash you need almost two per 470 to match one 1070 while consuming more, tell me how this si better, it does not matter if it cost half of it...

i think nanos will be good for a while still

All the rigs with 280s and 380s will die first. Then 290s and 390 and furies will die. Then nvidia rigs will die. Only RX470s and 480s will be remotely profitable for some time and then those will lose profitability too. Its gonna be cruel for newer miners who invested a few days to months back in new rigs.

Nah, there is too much power stuck in ETH now that will utterly slay the profitability of other coins when ETH goes pos.

The number is crazy.. about 5.6 Th/s

2017 is going to really suck and when ethereum goes pos then it's all over, unless Zcash can see a big boom in the market.  The bust can create future opportunity's for coins if the global gpu count takes a sharp decline then of course repeat the growth again.

It is worst thing to mine ethereum since the price is getting more decrease..
Many altcoin are still there that actually are profitable but not so much.. you can try other Pow coins. and study some altcoin gradually and look if what altcoin is the best to mine and profitable..

yes, something must change, looking at the running rig and thinking of good old days, heating up the room in winter ;-)

Q4/ 2015 was much worse. Nethash was ~etc now, eth price was at $0.4-0.6 level. To compare, etc is now $0.9 so we are not even close YET.

The only thing that will hopefully change is it might slow down people loading up their entire house with GPUs due to the fear of losing money by not ROId.

Ethereum mining is at record lows right now.

Absolutely right