Mining ETH is now no profit | Bitcointalksearch.org

VanDeinsberg12

hero member

Activity: 1540

Merit: 507

Quote from: rdluffy on June 16, 2019, 07:54:00 PM

Quote from: bittick on June 16, 2019, 06:43:50 PM

Quote from: rdluffy on June 16, 2019, 05:20:40 PM

Quote from: adaseb on June 16, 2019, 02:13:10 AM

Quote from: babos8383 on June 15, 2019, 03:02:56 PM

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

If, or when ETH hits 500 USD or more I expect a huge amount of GPUs pointing to ETH, some people will turn on their rigs again
If ETH hits 1000 USD I expect a new run to buy GPUs again

At that time the difficulties will ridiculously increase again and the profit will be lesser than what it should be. I'm pretty sure that some of the miners have sold their rigs because they're just giving up to it.
But if ETH really hits $1000 it's the holders that get the most profit not a newcomer miners.

No doubt about difficulty, I remember 2017, I was mining ETH
But for now I just bought the coins (including ETH) and I'm waiting, unfortunately the electricicty rates in my coutry rised a lot

But that will be so difficult to be happened because in 2017 the price of ethereum got pushed by ICOs that used ethereum as the main crypto to raise the funds. EOS ico even dig millions ethereum from the circulating supply to be invested in the dev's wallet.
I m moving to another coin right now like raven or grin. My friend sold a lot of his RX series consider about they got lost when they used it to mine ethereum(only to cover the electricity cost).

Uju4real

copper member

Activity: 349

Merit: 0

📱 CARTESI 📱 INFRASTRUCTURE FOR DAP

I completely disagree with you on this, irrespective of the fact that so many have trooped into mining its still very profitable. Am mining Eth and am making good profit with it

rdluffy

legendary

Activity: 2366

Merit: 1408

Quote from: bittick on June 16, 2019, 06:43:50 PM

Quote from: rdluffy on June 16, 2019, 05:20:40 PM

Quote from: adaseb on June 16, 2019, 02:13:10 AM

Quote from: babos8383 on June 15, 2019, 03:02:56 PM

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

If, or when ETH hits 500 USD or more I expect a huge amount of GPUs pointing to ETH, some people will turn on their rigs again
If ETH hits 1000 USD I expect a new run to buy GPUs again

At that time the difficulties will ridiculously increase again and the profit will be lesser than what it should be. I'm pretty sure that some of the miners have sold their rigs because they're just giving up to it.
But if ETH really hits $1000 it's the holders that get the most profit not a newcomer miners.

No doubt about difficulty, I remember 2017, I was mining ETH
But for now I just bought the coins (including ETH) and I'm waiting, unfortunately the electricicty rates in my coutry rised a lot

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

Quote from: rdluffy on June 16, 2019, 05:20:40 PM

Quote from: adaseb on June 16, 2019, 02:13:10 AM

Quote from: babos8383 on June 15, 2019, 03:02:56 PM

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

If, or when ETH hits 500 USD or more I expect a huge amount of GPUs pointing to ETH, some people will turn on their rigs again
If ETH hits 1000 USD I expect a new run to buy GPUs again

At that time the difficulties will ridiculously increase again and the profit will be lesser than what it should be. I'm pretty sure that some of the miners have sold their rigs because they're just giving up to it.
But if ETH really hits $1000 it's the holders that get the most profit not a newcomer miners.

rdluffy

legendary

Activity: 2366

Merit: 1408

Quote from: adaseb on June 16, 2019, 02:13:10 AM

Quote from: babos8383 on June 15, 2019, 03:02:56 PM

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

If, or when ETH hits 500 USD or more I expect a huge amount of GPUs pointing to ETH, some people will turn on their rigs again
If ETH hits 1000 USD I expect a new run to buy GPUs again

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: babos8383 on June 15, 2019, 03:02:56 PM

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

babos8383

sr. member

Activity: 728

Merit: 250

“A nexgen decentralized ride hailing ”

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: bittick on June 15, 2019, 11:11:26 AM

Quote from: Makingsure on June 14, 2019, 08:50:48 PM

i, like many others i believe, see a better future price in ETH, and hodler for those times, maybe ill do the staking POS thing, maybe not, but i believe when/if ever mining stops, we will see like 2000$ again in price :O

no profit now matters not, think long young padiwans

Thinking that ETH will reach $2000 is basically like betting your money on it, you don't know when will that happens and will that really happen.
Being miners is all about calculating the profit that you got at the current time of mining so that does make sense if peolpe always think about how profitable their mining rigs are.

It's business so you need to calculate everything, unless you are really have some guts to continue mining this coin and hold those rewards then
wait till the value will hit your desire amount, there's no point for miners to continue if he knows that there's no longer earnings that can be earned
instead, everything will only go to expenses.

r32godzilla

hero member

Activity: 1361

Merit: 506

Because if all miners shut down the mining rigs, then the network will collapse, no transactions will be confirmed, the security of the network become 0 and that will completely kill the coin. So the mining has to be profitable, maybe only for someone who has free electricity, but will be profitable to keep network alive.

Christinebeauty

copper member

Activity: 420

Merit: 2

I think ETH is still a good coin to mine and its fetching profit for people. It only becomes unprofitable when you are still inexperienced and your rigs are not so powerful. You can try mining other coins if you feel ETH is not fetching you the profit you need

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

Quote from: Makingsure on June 14, 2019, 08:50:48 PM

i, like many others i believe, see a better future price in ETH, and hodler for those times, maybe ill do the staking POS thing, maybe not, but i believe when/if ever mining stops, we will see like 2000$ again in price :O

no profit now matters not, think long young padiwans

Thinking that ETH will reach $2000 is basically like betting your money on it, you don't know when will that happens and will that really happen.
Being miners is all about calculating the profit that you got at the current time of mining so that does make sense if peolpe always think about how profitable their mining rigs are.

Makingsure

member

Activity: 140

Merit: 10

Judge a Man not by his postcount,but by activity

i, like many others i believe, see a better future price in ETH, and hodler for those times, maybe ill do the staking POS thing, maybe not, but i believe when/if ever mining stops, we will see like 2000$ again in price :O

no profit now matters not, think long young padiwans

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

Quote from: Wayan_Pedjeng on June 13, 2019, 09:44:56 AM

Quote from: kingcolex on May 25, 2019, 10:33:31 PM

It's definitely profitable and all depends on your power cost, that and Eth is a coin people are speculating on.

ETH is definitely one of the coins that we are all speculating on. In case a bull run occurs during the second half of 2019 or 2020, then ETH will be one of the coins that will appreciate the most. But you need to make a choice between mining at a loss (especially of the returns are not enough to cover the electricity costs) and purchasing ETH form the exchanges at lower cost. And I would say that the latter is an option that I would chose.

Kinda makes sense. Mining right now is like just there to give you a little profit, even people just could make their ends meet. buying off exchanges at a lower price will save any effort and there's no reason to be burdened with technical problems.
However. ever better is that POS coin that are simply just requires you to stake, that'd be more convenient way for people who just dont think mining is profitable because electricity.

Beyerd17

full member

Activity: 826

Merit: 103

Quote from: Wayan_Pedjeng on June 13, 2019, 09:44:56 AM

Quote from: kingcolex on May 25, 2019, 10:33:31 PM

It's definitely profitable and all depends on your power cost, that and Eth is a coin people are speculating on.

ETH is definitely one of the coins that we are all speculating on. In case a bull run occurs during the second half of 2019 or 2020, then ETH will be one of the coins that will appreciate the most. But you need to make a choice between mining at a loss (especially of the returns are not enough to cover the electricity costs) and purchasing ETH form the exchanges at lower cost. And I would say that the latter is an option that I would chose.

Don't make that choice. I would chose neither, I would rather invest in another project that has much greater potential than Ethereum. In a future bull run the tide would lift all ships, not just ETH.

Wayan_Pedjeng

sr. member

Activity: 913

Merit: 252

Quote from: kingcolex on May 25, 2019, 10:33:31 PM

It's definitely profitable and all depends on your power cost, that and Eth is a coin people are speculating on.

ETH is definitely one of the coins that we are all speculating on. In case a bull run occurs during the second half of 2019 or 2020, then ETH will be one of the coins that will appreciate the most. But you need to make a choice between mining at a loss (especially of the returns are not enough to cover the electricity costs) and purchasing ETH form the exchanges at lower cost. And I would say that the latter is an option that I would chose.

mak013

hero member

Activity: 2548

Merit: 769

Quote from: kronos123 on June 13, 2019, 04:04:18 AM

You are both right, but @starkovblue you have to understand that when the prices of the coins increase the number of the miners increases and therefore salt the hashrate of the currency with a decrease of the profitability; @superstarbtc instead you have to understand that those who invest in mining, in addition to time and Roi, also look to anonymity, because it is almost the only way to have coins without registering with kyc in some exchange, or making a transfer or with credit card (in all cases it is tracked by the regulator).

More interesting that mining right now to sell right now is profitable for everyone, who have electricity cheaper then $0.2 and bought his GPU more than a year ago.

kronos123

sr. member

Activity: 1022

Merit: 391

Quote from: superstarbtc on June 10, 2019, 01:05:27 AM

Quote from: starkovblue on June 03, 2019, 05:07:43 AM

People are looking at profits now and this is your biggest mistake.
In investing in mining and cryptocurrency, you must work on the edge of profitability. And due to rising prices, you will earn more than any of your other investments. Always look at the prospect.

People should understand mining is no way they make money fastly because it needs a lot of investment and it will take a lot of time to mature the coins. So we have considered other investment forms because we know how potentially the prices are increasing when the market starts recovering.

You are both right, but @starkovblue you have to understand that when the prices of the coins increase the number of the miners increases and therefore salt the hashrate of the currency with a decrease of the profitability; @superstarbtc instead you have to understand that those who invest in mining, in addition to time and Roi, also look to anonymity, because it is almost the only way to have coins without registering with kyc in some exchange, or making a transfer or with credit card (in all cases it is tracked by the regulator).

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: GhostWithin on June 13, 2019, 02:11:24 AM

Quote from: bitkanu on June 10, 2019, 06:15:30 AM

Zero cost of electricity if that's illegal is not right, I mean stealing is bad right and by the law you will be punished just like the recent cases about grandma stealing power, so that can't be taken into consideration.

Yes, this is wrong, but it happens. Therefore, this should be taken into account.
But someday it should end. Even in Russia, where mining was almost not regulated by banks, there was a case when a bank requested a wallet address and confirmation of payment for electricity.

Well that's kinda messed up when a Bank or even worse government requesting a wallet address just for electricity bill, It's like they knew everything.
However, zero cost of electricity could from an alternate renewable energy and that's by any means not stealing. well, I guess i'm agree with your statement that whether that's illegal or legal shall be taken into consideration because they just happened.

GhostWithin

full member

Activity: 644

Merit: 145

Quote from: bitkanu on June 10, 2019, 06:15:30 AM

Zero cost of electricity if that's illegal is not right, I mean stealing is bad right and by the law you will be punished just like the recent cases about grandma stealing power, so that can't be taken into consideration.

Yes, this is wrong, but it happens. Therefore, this should be taken into account.
But someday it should end. Even in Russia, where mining was almost not regulated by banks, there was a case when a bank requested a wallet address and confirmation of payment for electricity.

Viceroy

hero member

Activity: 924

Merit: 501

The benefit is still there, that's only if you have electricity is not free, then in this case it is not profitable for you to produce Ethereum.

Topic: Mining ETH is now no profit (Read 2213 times)