So having been out of the loop for a few weeks, I'm trying to catch up on topics here. There seems to be an increase in the # of threads such that there's a lot of content to sift through to find the topics I'm trying to read up about. Originally my plan was to start mining in earnest this summer, hoping that the madness surrounding gear and shortages may have settled down somewhat. That may not be realistic. However, the plans to mine ETH, as I understand them, are not going to be worth pursuing, with the 1559 thing and the proof of stake thing. Is this a fair summary?
With these things happening, what are you guys who are mining ETH going to shift to? I'm seeing a lot of different information and speculation, along with some cautions of "don't start mining now". My interest in this has always been for mining for the long haul - through the ups and downs, etc. So if a guy was able to cobble together a few rigs over the next few months, what would a nice long term play look like?
Should other coins be something I focus on learning about? And I think I understand that coin choice could impact whether I buy NVidia cards or AMD cards, is this accurate?
Do you think that NiceHash will still be a solid, simple solution - and that they will simply sell hashing power on other coins instead of ETH?
Curious to know what you all think. I expect to have investment capital available to me in early June. Again, it may be a fantasy, but I'm prepared, if I can swing it, to add 300 amps to my shop to drive a significant amount of gear, even if it takes a year or two to acquire it all.
"That may not be realistic. However, the plans to mine ETH, as I understand them, are not going to be worth pursuing, with the 1559 thing and the proof of stake thing. Is this a fair summary? " Not a fair summary. Eth has had a history of delaying moves.
So if they do it in July on time it would be less likely than if it gets delayed.
Second issue is lets say they do it in July our current Eth price is say 2000 and rewards if mined on viabtc are +80%
so it is as if we get 3600 per coin. 1.8 x 2000 = 3600
So lets say we drop to +5%
1.05 x 2000 = 2100 terrible right? Yes but maybe coin goes from 2000 to 4000 due to the way cheaper fees.
Which means 1.05 x 4000 = 4200 a coin
So on the good end:
the July deadline for 1559 could be delayed
or the enactment of 1559 could skyrocket prices of coins to 4000.
on the bad end:
the July deadline is met on time for 1559
and once met prices stay at 2000
or once met prices drop down from 2000 to 1500 or less
I know your set up and the rig you purchased made money for you it is really close to roi.
In your spot enter the shuffle day after day and hope for a cheap card.
Buying over price cards on ebay = big risk.
No one knew this shortage would last like it did.
But if you play the waiting game with the current gear you have you will turn a profit.
If coins take off you keep making more with the small rig and wait for a cheap card.
Even though I have tons more gear than you do and I have 3x the power I am using.
I will not overpay for gear.
I do the shuffle and hope for good prices. Or I do nothing. I am 64 and plan to mine for 6 years tops.
If it take me 3 or 4 of those 6 years to max the power from 133kwatts to 400kwatts.
I can live with it.
