Mining ETH is now no profit - page 7.

nickenburg

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Quote from: shinratensei_ on May 27, 2019, 10:17:55 PM

Quote from: nickenburg on May 27, 2019, 09:50:43 PM

I think it also has to do with the total hashrate.

For example I mined 0,05 Ethereum 1 year ago with the Rx480 and it took me longer then a month.
Because The Total hashrate was a lot higher a year ago, so it could be possible now that miners are receiving more ethereum.

But I do think people do it because they actually believe in Ethereum and they wont just quit after one period where the market goes down.

Hashrate is not only the main factor because you have been forgetting to mention the impact caused by the block decrease. Did you know that if this will be giving a huge impact on the result on how much ethereum that will get by the miners even if the hashrate gets less than a year ago? you can't get it because it has been getting a halving that reduces ethereum block reward from 3 to the 2 per block. Hashrate power is not the only thing that affects ethereum supply and rewards to the miners.

That's true I actually didn't know Ethereum halved their block rewards in januari this year, I just looked it up, and yes that makes a huge difference.
So the only people who are mining this are people with super low electricity costs or people who think Ethereum is going to reach a better price again.
Personally I definitely think Ethereum is undervalued at the moment especially with the rewards that halved but that's just my opinion.

shinratensei_

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Quote from: nickenburg on May 27, 2019, 09:50:43 PM

I think it also has to do with the total hashrate.

For example I mined 0,05 Ethereum 1 year ago with the Rx480 and it took me longer then a month.
Because The Total hashrate was a lot higher a year ago, so it could be possible now that miners are receiving more ethereum.

But I do think people do it because they actually believe in Ethereum and they wont just quit after one period where the market goes down.

Hashrate is not only the main factor because you have been forgetting to mention the impact caused by the block decrease. Did you know that if this will be giving a huge impact on the result on how much ethereum that will get by the miners even if the hashrate gets less than a year ago? you can't get it because it has been getting a halving that reduces ethereum block reward from 3 to the 2 per block. Hashrate power is not the only thing that affects ethereum supply and rewards to the miners.

nickenburg

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I think it also has to do with the total hashrate.

For example I mined 0,05 Ethereum 1 year ago with the Rx480 and it took me longer then a month.
Because The Total hashrate was a lot higher a year ago, so it could be possible now that miners are receiving more ethereum.

But I do think people do it because they actually believe in Ethereum and they wont just quit after one period where the market goes down.

libert19

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Quote from: Pagri on May 27, 2019, 06:55:24 PM

Quote from: Beyerd17 on May 26, 2019, 04:08:17 PM

Quote from: lobat999 on May 26, 2019, 08:37:49 AM

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation. I personally would like to call this mining-as-an-investment strategy.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

That's right, I stopped mining ethereum several months ago, because when the price collapsed below $100 I realized that at those levels there was more profit potential buying ethers than mining. Fortunately this was a good decision because now that the price of ether multiplied x3 I was able to obtain the profits that mining was no longer giving me.

Exactly, eth reached $1400 at all time high price, mining might not be much profitable at the moment but looking at future price its surely is profitable.

ryap12

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Quote from: Pagri on May 27, 2019, 06:55:24 PM

Quote from: Beyerd17 on May 26, 2019, 04:08:17 PM

Quote from: lobat999 on May 26, 2019, 08:37:49 AM

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation. I personally would like to call this mining-as-an-investment strategy.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

That's right, I stopped mining ethereum several months ago, because when the price collapsed below $100 I realized that at those levels there was more profit potential buying ethers than mining. Fortunately this was a good decision because now that the price of ether multiplied x3 I was able to obtain the profits that mining was no longer giving me.

Smart Decision Pagri. Maybe you'll get back into Mining when the price of Ethereum reaches more than $1,000 USD. Right now the price is lying low and mining will only profit in small portions. And from what I think, whenever mining no longer gives profit with its current price, Im pretty sure the price will go higher to make those miners continue mining.

BitBustah

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Quote from: lobat999 on May 27, 2019, 03:05:00 AM

I was just wondering why there are so many threads like this that purportedly discourage mining on a particular coin especially with ETH on the basis of profitablity when in fact it has a decent hash power which only means that more miners are mining on the network. I hope some of those threads was not meant to discourage or eliminate competition, rather we must encourage everyone to mine on a particular network to make it more stronger thus safeguarding all our interest in it. Imho.

People are just greedy and want to discourage others from mining so difficulty stays low. Mining is one of the easiest things for someone to do from home that needs extra income.

Pagri

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Quote from: Beyerd17 on May 26, 2019, 04:08:17 PM

Quote from: lobat999 on May 26, 2019, 08:37:49 AM

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation. I personally would like to call this mining-as-an-investment strategy.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

That's right, I stopped mining ethereum several months ago, because when the price collapsed below $100 I realized that at those levels there was more profit potential buying ethers than mining. Fortunately this was a good decision because now that the price of ether multiplied x3 I was able to obtain the profits that mining was no longer giving me.

jonas5222000

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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.

All of the mining token are profitable all you have to do is to mind what power or what hash you will need to get a big profit and also be smart of what token that you will choose to mine,coz if not you are wasting your time for small profit.

rdluffy

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Quote from: lobat999 on May 27, 2019, 03:05:00 AM

I was just wondering why there are so many threads like this that purportedly discourage mining on a particular coin especially with ETH on the basis of profitablity when in fact it has a decent hash power which only means that more miners are mining on the network. I hope some of those threads was not meant to discourage or eliminate competition, rather we must encourage everyone to mine on a particular network to make it more stronger thus safeguarding all our interest in it. Imho.

Every day big miners add more cards to their companies, it's not small miners adding hashpower

Christinebeauty

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Though mining the new coins is much profitable than those popular coins like BTC and ETH since those coins are usually mined by experts. You can maximize your gains if your electricity consumption is low.

Kasperiko

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Quote from: ivan1975 on May 26, 2019, 11:13:08 PM

With current hardware without buying new video cards, I would also recommend Banano browser mining.
https://bananominer.com/

A project where, apart from a small number of enthusiasts, there is nothing. Or in one word shitty coin as many here previously wrote.

CryptoKush

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Ethereum price has grown well lately. I think that this should motivate the miners to continue working. I think that now is a bad time to quit mining.

kingcolex

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Quote from: ivan1975 on May 26, 2019, 11:13:08 PM

With current hardware without buying new video cards, I would also recommend Banano browser mining.
https://bananominer.com/

Shitcoin that will be worth zero in no time and it's a waste to even set up the browser, nah im good.

lobat999

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I was just wondering why there are so many threads like this that purportedly discourage mining on a particular coin especially with ETH on the basis of profitablity when in fact it has a decent hash power which only means that more miners are mining on the network. I hope some of those threads was not meant to discourage or eliminate competition, rather we must encourage everyone to mine on a particular network to make it more stronger thus safeguarding all our interest in it. Imho.

superstarbtc

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Quote from: Beyerd17 on May 26, 2019, 04:08:17 PM

Quote from: lobat999 on May 26, 2019, 08:37:49 AM

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation. I personally would like to call this mining-as-an-investment strategy.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

Yes, it is impossible for the people who are mining the ETH for short term which they will not make high profits with the current value of ETH. So we should wait until the price of ETH should cross more than 500$ and we should wait and see how far the price of ETH is going to be in the coming days.

thefaucetrunner

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i guess most of ethereum's miner are has their profit when the market rise and reach the new all time high ETH price, and now they put their patience again to return back their profit from mining after the bear market ends. Its just like investing your money on the other way...you can double or even triple your profit when the trend shows green again.

basicnecromancycr

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I wonder will there be a difference when Ethereum protocol is changed? I mean, I have no sufficient knowledge but Ethereum will be a PoS if I'm not mistaken.

ivan1975

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With current hardware without buying new video cards, I would also recommend Banano browser mining.
https://bananominer.com/

lobat999

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Quote from: asriloni on May 26, 2019, 06:04:57 PM

Quote from: Beyerd17 on May 26, 2019, 04:08:17 PM

Quote from: lobat999 on May 26, 2019, 08:37:49 AM

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation. I personally would like to call this mining-as-an-investment strategy.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

I'm not sure about that, remember the next halving has already planned and it will get another halving as soon as possible as per FFG whitepaper. For the last blockreward for the miner will be around 0.5 eth and there are some miners (BIG) only that will mine ethereum. OP may get a big cost on its electricity that makes it doesn't profitable anymore.

I guess all our assumptions will be realized once ETH get passed its ATH provided the bull crypto cycle continues. As for me, I personally believe that ETH mining would be productive and fruitful in the long term considering the merits that the coin possesses.

rdbase

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Quote from: sereze on May 26, 2019, 05:04:32 AM

150 Mhs gets you roughly 3 USD per day, electricity cost = 0,1 USD/kwh , 0,75 ( 750 watt ) x 24 x 0,1 = 1,8 USD electricity cost , 3-1,8= 1,2 USD profit. Is it sensible to build a mining rig with this conditions? Maybe with second hand parts, definetaly not with brand new equipment. Is it sensible to continiue mining with your existing rig? Yes

This is what I figured it would cost.
But if he is spending a higher amount in electricity then it is certainly not worth it even if ethereum price doubled in price to it's all time high.
Some places even charge a different rate at night time so all these factors are involved to even have a mining rig running to turn a profit.

Topic: Mining ETH is now no profit - page 7. (Read 2213 times)