Topic: What happened to GPU mining (late March 2018)? - page 3. (Read 1826 times)

lol these companies have made billions being smart not dumb , they ALWAYS make Money on their hardware because either they sell it to you at a high price or like the cryptonite  miners they’ve been using them for six months or longer my name making millions before list them for sale is because the algo change to get a grip

Based on a video claiming to show the new Bitmain ethereum ASIC, it's not all that impressive.

1500 Mhash (about 50 1070 or BIOS modded RX 470/480/570/580) but no power number quoted.
At 1000 watts (LOW for a Bitmain miner) it would only be 5x or so as efficient as current GPU mining.
At 1500 watts, it would be LESS THAN 3x more efficient.

Factor in the probably efficiency improvements of the next-gen Nvidia cards (due later this year SOMETIME) and the numbers get even less impressive.

Given the HUGE amount of ETH hashrate alone, even at Bitmain's typical "3000 or so" miners per batch it would take quite a few months for their ASIC to capture *HALF* of the ETH total network hashrate.
Then add in the existing total network hashrate from the other ethash coins like ETC.....

Yes, it's a threat - but it's not going to kill ETH mining soon, and unless they price it CHEAP it's likely to never make enough to pay for itself.
Unlike SIA and X11, it's NOT going to kick the hashrate multiple times higher in less than a month - it's going to be closer to the move in Scrypt where the L3+ and Innosilicon miners are ONLY NOW finally getting deployed in enough numbers to replace the "previous generation" like the A2 and the Titan and make them generally unprofitable.

IMO if Vitalik and crew keep their current target timeframe for POS deployment and actually MEET it for a change, it'll be a waste of time doing a "algo change" fork.


I don't class this miner as a "big mistake" like the Cryptonight ones from Baikal and Bitmain, but it's not looking a TON better.


https://etherscan.io/chart/hashrate shows an all-time high spike on March 26, but seems to have been a "day of the week" or "luck" thing as the trend has been a gradual DROP for about 2 weeks now.

I suspect they have some engineering and "early production" test units up and running - but a few hundred at most.

don't you count on eth fork which could prevent this coin (or maybe rather GPU miners) from ASICS?

all gpu and Bitcoin mining is dead and its bad times now as after electric there is only a few dollars profit

quote

nevermore

 

actually nvidia cards are moving to raven , its like two times more profitable than eth or 3x zec

Looks like best investments were rx570 4gb 30mh for 250$5
Worst is nvidia 1070ti and 1080ti.  1.2k $ per card.  ROI is years and next gen is comming. thats make even harder to sell these hi end card at reasonable prices. while 1060 are good mh/s to wat. half of them startes dying because of dag file size today
should invest in pv solars also to reduce energy bill

Yes I am noticing this also. Basically nivida were best for ZEC due to the high hashrate and low power consumption.

And now the profitability of ZEC became magnitudes lower than ETH profitability.

So many of the older gen AMD GPUs and most Nvidia GPUs are suffering.

It seems that nvidia pushed the production of mining cards last 2 months and flooding the market with them thus killing the mining profitability.Also its probably not a bad move to sell gpus now as most of them wont mine the same amount of money in a year that you can get from seling them

When all miners rush to Equihash then the difficulty will make it unprofitable.



Mining right now is only unprofitable if you MINE-N-DUMP into USD/BTC. If you mine good projects like BTCZ you get a lot of coins right now and if you dont convert to USD/BTC then you could be gaining a lot. The reverse is also true, if you have been mining good coins in the past two months but never converted to USD then your profitability for back in Jan is also impacted. For example, my rig made $35/day back in Jan but I didnt sell any of the coins I mined and they went down 80% so even back in Jan I only made $7/day because the coins I held onto have become worth so much less.

You can say what happened in the first quarter of 2018 is exactly what happened in the first quarter of 2014.

Basically MtGox caused BTC to go down which is similiar to what happened this year with the selling of the coins by the trustee.

Also Bitmain introduced ASiCs for ETH which made difficulty sky rocket. Basically exactly what happened with LTC back in 2014.

History repeats itself I guess.

In general, do not go check Ebay and similar sites if you want to probe the status of mining because they are flooded with counterfeit products.
These so-called $100 1060 cards are just BS.

But yeah mining profitability has gone down recently, that's not a secret.

--ypsi

If you want to buy the GPU you must go with the reputed online e-commerce store or local market in your city bro. There are many scamming websites which is having the all type of cards and some ASIC hardware as well buddy.

So if you new websites which is for using selling hardware you will not go with those kind of websites bro.
If you want to buy the Rx 580 with the 300 dollar USD means you need to go with the second hand ebay cards. No where you find with that cards for cheap cost.

Yes, things sure are crazy here in makebelieveland!

We humans should help each other, if there is opportunity to make money for free.
Share the knowledge with each other.  I came to know about GPU mining this year but nothing is too late ever.
I am mining FOLM coin for past two weeks and have earned good profit. some good man shared information to Join FOLM coin with me and now I am sharing with you. Join https://discord.gg/ByfhsCk

Equihash is still exist.

The listed GPU-s under 100 dollars are a scam, I asked in the service discussion here sometime ago as I was tempted too by them. What the seller does is they ship you an old card or Gtx 960 chinese version in the 1060 box and you get cheated.

Now on real prices of GPU they should go down but so far they haven't at ebay. I am not seeing any RX 580 under 300 dollars while MSRP price of it from AMD was 229 dollars for the 8 GB version , we are still way overpriced in GPU market.

With high electricity cost at $0.2 /KWh, Ether under $400, difficulty so high and low hashrate on GPU, I'm losing money mining.

Mining has definitely taken a hit. I have sold my L3 and my A3 ASICs before they become doorstops.