Topic: What should be the plan after ETH mining dies ? (Read 2597 times)
Proportion of hashrate which mining etehreum is too big. I expect some new PoW coins to come out, but It seems not easy..
Why to worry about it right now? I hear everyday mining is doomed it won't work tomorrow and then here we are a few years later 
New coins are created every day, if ETH will not be mineable there will be something else. Worst scenario, profitability goes below 0, all John Does selling gears and then it will sky rocket once again, happened in the past how many times by know?
New coins are created every day, if ETH will not be mineable there will be something else. Worst scenario, profitability goes below 0, all John Does selling gears and then it will sky rocket once again, happened in the past how many times by know? There is no answer to this. And even if someone had a crystal ball and could see the next big profit coin, they wouldn't tell you. Mining for big profit is dead until the next coin comes around. Don't forget, Ethereum has been in development for years and only just became profitable in the last eight months. For the next year or two or more, you'll just be scraping pennies from the crypto floor.
Actually, it's been profitable for longer than that because the difficulty used to be much lower. When I started mining Ethereum in March of 2016 (16 months ago), I was making ~$7 per day with two R9 290x cards and a few months later, I was making ~$10 a day for a little while. Now I mine it with four R9 290x cards and I make ~$7 per day.
Depends on your electric rate too, ETH has been profitable for a long time if you had cheap enough electric.
If the price is lower than 0.16 dollar, it is quite profitable.
There is no answer to this. And even if someone had a crystal ball and could see the next big profit coin, they wouldn't tell you. Mining for big profit is dead until the next coin comes around. Don't forget, Ethereum has been in development for years and only just became profitable in the last eight months. For the next year or two or more, you'll just be scraping pennies from the crypto floor.
Actually, it's been profitable for longer than that because the difficulty used to be much lower. When I started mining Ethereum in March of 2016 (16 months ago), I was making ~$7 per day with two R9 290x cards and a few months later, I was making ~$10 a day for a little while. Now I mine it with four R9 290x cards and I make ~$7 per day.
Depends on your electric rate too, ETH has been profitable for a long time if you had cheap enough electric.
There is no answer to this. And even if someone had a crystal ball and could see the next big profit coin, they wouldn't tell you. Mining for big profit is dead until the next coin comes around. Don't forget, Ethereum has been in development for years and only just became profitable in the last eight months. For the next year or two or more, you'll just be scraping pennies from the crypto floor.
Actually, it's been profitable for longer than that because the difficulty used to be much lower. When I started mining Ethereum in March of 2016 (16 months ago), I was making ~$7 per day with two R9 290x cards and a few months later, I was making ~$10 a day for a little while. Now I mine it with four R9 290x cards and I make ~$7 per day.
New coins are created every day, mine something else.
Its really up to the founders and how they market it. Example Bitcoin has to be around $7000/BTC and Zec above .12/BTC to keep up with the difficulty. We would make same amount like 2 months ago.
Most probable people will start mining Monero, ETH forks, ZEC etc.. But i'm sure there will be lots of miners who will sell their rigs causing a massive drop in price .
I think we need a new consensus system in which the participants would be incentivised to keep their PCs online as much as possible. Some sort of POS but with accent on uptime.
I think we need a new consensus system in which the participants would be incentivised to keep their PCs online as much as possible. Some sort of POS but with accent on uptime.
What do you says "about the end of ETH mining" ?
Because the PoS with ETH : it will never come.
Because the poor performance of AMD GPUs with ETH in the near future ?
You're right, but ETH mining will not be ended because AMD GPUs are useless : it is still the nVidia GPUs mining, and without the AMD GPUs hashrate, the nVidia GPUs will earn a lot (lower difficulty).
But, if you only want to switch from ETH mining to an other coin, one more time, it's depends of what GPUs you have.
For example, AMD GPUs can't mine a lot of coin and some very interesting coins.
POS for ETH is just a matter of time, though it has been delayed a few times it's starting to look like the Metropolis "hybrid trial" IS going to happen late this year.
1% allocated to POS 99% to POW won't kill mining, or even have a noticeable effect on profitability, but it's a step towards the end.
The "DAG file size" issue with AMD cards won't kill mining. It will affect profitability and might drive a few MARGINAL miners out of ETH, but it's not enough of an issue to kill ETH mining.
It might be enough to drive some folks to NVidia cards instead of AMD, especially the 1060 and 1070, as long as AMD pricing continues to be GOUGE and AMD availability remains very limited, but it would appear that the mining-specific AMD models are having somewhat of an impact on the pricing and availability issues.
AMD cards can mine quite a few other coins well, but there are SOME that are going to remain NVidia strongholds.
It's going to be a largely moot point though, if pricing doesn't start climbing again.
Profitability RIGHT NOW is back down to about the same level it was at last summer, which wasn't enough to support any serious growth in ETH mining farms - and the last 2-3 weeks of price moves indicate it's probably a VERY HIGH RISK to get into ETH mining at this point unless you have FREE or VERY VERY CHEAP electric to survive a possible "price drop driven shakeout" over the next few weeks.
There is no answer to this. And even if someone had a crystal ball and could see the next big profit coin, they wouldn't tell you. Mining for big profit is dead until the next coin comes around. Don't forget, Ethereum has been in development for years and only just became profitable in the last eight months. For the next year or two or more, you'll just be scraping pennies from the crypto floor.
Hello,
Nearly all the topics mention about the end of eth mining in a very short time. What is your strategy after eth mining dies ? Which coins you will be targeting ? I am also mining eth but would like to hear your ideas about what to do after eth ?
Many people talk about switching to Zcash but it will be the same thing if every eth miner switch to zcash . So is it best to mine underrated coins or what ? Please help a newbie to decide what to do =)
Thanks.
What do you says "about the end of ETH mining" ?Nearly all the topics mention about the end of eth mining in a very short time. What is your strategy after eth mining dies ? Which coins you will be targeting ? I am also mining eth but would like to hear your ideas about what to do after eth ?
Many people talk about switching to Zcash but it will be the same thing if every eth miner switch to zcash . So is it best to mine underrated coins or what ? Please help a newbie to decide what to do =)
Thanks.
Because the PoS with ETH : it will never come.
Because the poor performance of AMD GPUs with ETH in the near future ?
You're right, but ETH mining will not be ended because AMD GPUs are useless : it is still the nVidia GPUs mining, and without the AMD GPUs hashrate, the nVidia GPUs will earn a lot (lower difficulty).
But, if you only want to switch from ETH mining to an other coin, one more time, it's depends of what GPUs you have.
For example, AMD GPUs can't mine a lot of coin and some very interesting coins.
Well, it's getting a bit more complicated, prices on Bitcoin and the bigger altcoins seem to be recovering the last couple days.
ETH network hashrate has pretty much stagnated the last week, have to see if the price climb is enough to stimulate more machine builds or if folks are going to stay cautious for a while.
ETH network hashrate has pretty much stagnated the last week, have to see if the price climb is enough to stimulate more machine builds or if folks are going to stay cautious for a while.
As the majority of ETH miners is still AMD based the hashrate might even go down a bit over the next weeks. might become a good time now for Nvidia miners with raising prices for ETH
Anything can replace eth for mining it just has to be very pumpable and have high rewards per block and offer something new and better then the rest. Something new would do the trick. a Zcash 2.0
Does any one here dual mine with ethos?
Well, it's getting a bit more complicated, prices on Bitcoin and the bigger altcoins seem to be recovering the last couple days.
ETH network hashrate has pretty much stagnated the last week, have to see if the price climb is enough to stimulate more machine builds or if folks are going to stay cautious for a while.
ETH network hashrate has pretty much stagnated the last week, have to see if the price climb is enough to stimulate more machine builds or if folks are going to stay cautious for a while.
When it dies go mine a newer coin, there are plenty of altcoins to mine with a GPU, although not as profitable.
Watching whattomine.com over the past couple days is making me think this is probably unsustainable. Profit is razor thin already.
People are buying more and more GPU's just to mine, something has got to give. It might get to a point where miningprofits will be negative in 6 to 12 months, but people won't stop mining in the hope of a massive pump on the exchanges. Who knows what the future will be, it might get ugly.
That is what I did in the past three years. I always hope the price of the coin will go up and profit will return.
What a newbie should do is what causes death to happen, and searches for information about Zcash accurately. So a newbie will decide wisely.
Newbie indeed, im not sure that made much sense. Wish you all the best in your investing/mining
What a newbie should do is what causes death to happen, and searches for information about Zcash accurately. So a newbie will decide wisely.
When it dies go mine a newer coin, there are plenty of altcoins to mine with a GPU, although not as profitable.
And the other 2+ million GPUs will be doing the same thing, KILLING most or all profitability on most coins since all other GPU-mineable coins COMBINED have ballpark 1 million GPUs mining on them.
Better have REAL cheap power at that point if you want to make anything.
The way profitability is going, due in part to the large DROP in coin pricing over the last couple weeks, we might not get TO that point on ETH.
Folks with high enough electric costs are ALREADY getting squeezed out of GPU mining for a profit, and I've noticed that network hashrate on ETH seems to have flattened out a LOT the last couple days (it's not QUITE stopped on growth, but pretty close).
Yes, I can see this turning into another version of the 2013 "boom" 2014/2015/2016 "bust" cycle in GPU mining.
One would need another pricepump of Bitcoin to drag along most other altcoinprices upwards to be GPU profitable for those with the highest cost of electricity. ETH is still good to mine though atm.
When it dies go mine a newer coin, there are plenty of altcoins to mine with a GPU, although not as profitable.
And the other 2+ million GPUs will be doing the same thing, KILLING most or all profitability on most coins since all other GPU-mineable coins COMBINED have ballpark 1 million GPUs mining on them.
Better have REAL cheap power at that point if you want to make anything.
The way profitability is going, due in part to the large DROP in coin pricing over the last couple weeks, we might not get TO that point on ETH.
Folks with high enough electric costs are ALREADY getting squeezed out of GPU mining for a profit, and I've noticed that network hashrate on ETH seems to have flattened out a LOT the last couple days (it's not QUITE stopped on growth, but pretty close).
Yes, I can see this turning into another version of the 2013 "boom" 2014/2015/2016 "bust" cycle in GPU mining.
mining is essentially dead better sell your GPUs now while still can
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