Topic: What should be the plan after ETH mining dies ? (Read 2609 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?

If the price is lower than 0.16 dollar, it is quite profitable.

 Depends on your electric rate too, ETH has been profitable for a long time if you had cheap enough electric.

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.

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.

 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.

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.

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.

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.

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.

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.

 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

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.

Sell GPUs on eBay. Wait 2 years. If by then some other POW coins comes out then buy GPUs again when nobody else is looking.

Pretty much a repeat of 2013-2016.

Only way mining was profitable AGAIN was when everybody forgot about mining and stayed out of it. Less GPUs... More profits for you.

No way mining will be profitable with 3-4 millions GPUs online and with every new coin being POS (ICOs).

This is more of a question of how much difficulty there is in mining the coin.  If you have an extremely low difficulty, then you should solo mine... which is usually the case when a coin is first released.  When you start seeing mining pools pop up on the main announcement page, then more miners are going to flock to it because it's usually easier to connect to a pool and start mining.  Solo mining usually requires you to setup a wallet, download the blockchain, deal with early wallet beta issues, etc... so many miners wait for a pool.  But once miners start jumping on pools, the difficulty starts going up, which affects your ability to effectively solo mine.  So it's really a timing and difficulty issue on whether you should solo or pool mine.


Unfortunately we don't have crystal balls so no one can forecast this.  You will have to do your own research and make your own choices.


There are lots of other exchanges out there... some good, some bad that have many other coins that don't make it to a large exchange like poloniex.  There can be some interesting opportunities found that way.


Don't worry, no one becomes an expert overnight.  Keep reading and doing searches for the topics you are unsure about.

Yeah I wonder if the people who suggest "go mine a newer coin or there's plenty of coins to mine" are truly thinking things out or just cognitive dissonance. While true I doubt many will continue once they see the razor thin profits compared with the heat and work involved. Winter heat may help some but it's def going to get worse before it gets better for sure...

Watching whattomine.com over the past couple days is making me think this is probably unsustainable. Profit is razor thin already.

It will be an ELE! Quick save yourself while you still can!!!












/sarcasm

When it dies go mine a newer coin, there are plenty of altcoins to mine with a GPU, although not as profitable.

Thanks for replies,

For the new coins , should we find a pool or because they are less difficult should we proceed with solo ?
Also can we know some coins are safe bet or rising stars as i cant find many info or i don't know what info to look at to understand the future of coins .. I only check he coins that can be traded via poloniex for example , but they are either not mineable or they don't have any safe pools etc..

I am really lost..

not every miner will remain operative, the very big farm with thousands of gpu i think will switch off or sell some of their miners, the same for many small miners, because there will be no more profit to remain after eth die, if now you get $2 with a gpu after ethreum die, you get almost $0 lol, because on ETH at the moment there are 2 millions gpu

Yep, Ropecoin is a safe bet. And never underestimate that rising star, Coffincoin. Honorable mention to Denialcoin, too.

Ropecoin. 

New coins are created every day, mine something else.

You are right the miners can choose zcash to be mined after ethereum goes to PoS and i don't think ethereum miners dies,
many another altcoins can be mined by GPU cards except zcash, we can do mining ethereum classic ETC.
In the future will many altcoins can be mined by GPU or if we can not find the profitable altcoins, at least we can sell our GPU cards always there are choice for GPU miners.

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.