The difficulty bomb was meant as a mechanism to slowly get people off of mining eth. Now that its going to go from full speed to a sudden stop on the POW side, get ready for mining profits to jump down hard and then fluctuate until everyone gets settled into their new coins.
With or without ETH PoW algorithm mining will continue, things will get rough at first but as time pass by miners will have their days back again, I'm looking into Alephium and Ergo. 
Topic: What will be the Fate of miners in 2022 (Read 399 times)
The difficulty bomb was meant as a mechanism to slowly get people off of mining eth. Now that its going to go from full speed to a sudden stop on the POW side, get ready for mining profits to jump down hard and then fluctuate until everyone gets settled into their new coins.
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already 
what about you?
those who suggesting about buying coin instead mining is for maximize profit but higher risk, you cant go wrong with mining if bullrun still intact even buying rigs at 2x msrp what about you? me as miner didnt buy any gpus after 2020, 2019 is the cheapest for building rigs, glad i always buy gpus at msrp or below
Why mine Ethereum when you could buy it for $ 100-200?
For example, I bought equipment if its payback was about 8-10 months, or maximum 12 months.
I don't think that many miners bought equipment in 2019, when the profit was from zero to several tens of cents.
Many miners had negative profit and turned off their farms. Check out the hashrate history.
For example, I bought equipment if its payback was about 8-10 months, or maximum 12 months.
I don't think that many miners bought equipment in 2019, when the profit was from zero to several tens of cents.
Many miners had negative profit and turned off their farms. Check out the hashrate history.
It's funny, these new people starting to mine now think we are lying hehe, they have no idea what bear market really is. I have a theory as what they think, if they earn 7 usd dollar now, they think they will earn 3 dollars in bear market ehhe, no sheeps, you will not earn anything, you will pay to mine, only big farms with around $0.02kwh electricity power costs will be mining, anybody with $0.10 kwh electricity cost will pay to mine.
I do not want to give advice because it is useless.
Hi,
2022 Will be the year of Digital Currencies/Stablecoin(s) and Institutional Investments => Q1 2022 This will be the year nation states begin their own adoption of "Crypto" & CBDC etc.
Furthermore:
There are many other projects which will require computational resources to power their chains AFTER or IF ETH switches to PoS. It may not happen until 2024 maybe!
Whether it be CPU/GPU/FPGA/ASIC there will be a demand. ETHASH is not the only algo's in town, currently one of the most profitable but not the only minable project.
That being said Hash has already started to drift away to other networks, You can see this on-chain.
Lets not forget The same vibes were being felt when ASIC's were made Publicly available for ETHASH..
The words around the camp fire were just like this thread.. What will this mean for GPU miners. etc.. The same what happened then will apply after ETH goes to PoS, Both will coexist!
GPU mining WILL be around for a long time IMHO. Maybe not on ETH but there are a Plethora of other chains crying out for good old quality GPU hashrate.
FYI. There is nothing stopping GPU miners from mining #Bitcoin over on 2Miners or selling raw hash over on NiceHash as example.
In my experience, not that its worth terribly much BUT if you have a resource that is in demand ON BOTH SIDES of the Equation you will have it Supplied/Balanced.
(GPU Miners Offering the power / Project Offering the reward) <== Will almost certainly be the case./
My Second point is a bit more forward looking which involves taking a look at the direction of travel for methods of computation in the future and also how the inflow of outside investment besides the VC front will dictate (to a large extent) what will happen with crypto mining, and is as follows:
- Short of quantum computers becoming onstream / mainstream there is no real hurry/rush, There is progress on this front Alphabet and Canadian D-Wave plus I think GM all have their own Quantum machines. (Correct me if I am wrong) This will be a sizable shift in how networks are secured/considered secured. But I think we are talking years out here if indeed is feasible
- The true and very real threat to Cryptocurrency mining will be and IS coming from the ESG front, Especially, now we have the influx of Large institutions who's shareholders demand Greener/Sustainable investments. Meaning: PoW mining powered by coal fired power plants to run inefficient ASIC's/GPU's is unsustainable.. That is the narrative now which I expect will continue to expand as more larger players enter this scene soon, like now!
Main take away points is: Keep calm, Nothing to see here.. Move along and Carry on Mining..
--POW Miner to the end
2022 Will be the year of Digital Currencies/Stablecoin(s) and Institutional Investments => Q1 2022 This will be the year nation states begin their own adoption of "Crypto" & CBDC etc.
Furthermore:
There are many other projects which will require computational resources to power their chains AFTER or IF ETH switches to PoS. It may not happen until 2024 maybe!
Whether it be CPU/GPU/FPGA/ASIC there will be a demand. ETHASH is not the only algo's in town, currently one of the most profitable but not the only minable project.
That being said Hash has already started to drift away to other networks, You can see this on-chain.
Lets not forget The same vibes were being felt when ASIC's were made Publicly available for ETHASH..
The words around the camp fire were just like this thread.. What will this mean for GPU miners. etc.. The same what happened then will apply after ETH goes to PoS, Both will coexist!
GPU mining WILL be around for a long time IMHO. Maybe not on ETH but there are a Plethora of other chains crying out for good old quality GPU hashrate.
FYI. There is nothing stopping GPU miners from mining #Bitcoin over on 2Miners or selling raw hash over on NiceHash as example.
In my experience, not that its worth terribly much BUT if you have a resource that is in demand ON BOTH SIDES of the Equation you will have it Supplied/Balanced.
(GPU Miners Offering the power / Project Offering the reward) <== Will almost certainly be the case./
My Second point is a bit more forward looking which involves taking a look at the direction of travel for methods of computation in the future and also how the inflow of outside investment besides the VC front will dictate (to a large extent) what will happen with crypto mining, and is as follows:
- Short of quantum computers becoming onstream / mainstream there is no real hurry/rush, There is progress on this front Alphabet and Canadian D-Wave plus I think GM all have their own Quantum machines. (Correct me if I am wrong) This will be a sizable shift in how networks are secured/considered secured. But I think we are talking years out here if indeed is feasible
- The true and very real threat to Cryptocurrency mining will be and IS coming from the ESG front, Especially, now we have the influx of Large institutions who's shareholders demand Greener/Sustainable investments. Meaning: PoW mining powered by coal fired power plants to run inefficient ASIC's/GPU's is unsustainable.. That is the narrative now which I expect will continue to expand as more larger players enter this scene soon, like now!
Main take away points is: Keep calm, Nothing to see here.. Move along and Carry on Mining..
--POW Miner to the end
Why mine Ethereum when you could buy it for $ 100-200?
For example, I bought equipment if its payback was about 8-10 months, or maximum 12 months.
I don't think that many miners bought equipment in 2019, when the profit was from zero to several tens of cents.
Many miners had negative profit and turned off their farms. Check out the hashrate history.
For example, I bought equipment if its payback was about 8-10 months, or maximum 12 months.
I don't think that many miners bought equipment in 2019, when the profit was from zero to several tens of cents.
Many miners had negative profit and turned off their farms. Check out the hashrate history.
It's funny, these new people starting to mine now think we are lying hehe, they have no idea what bear market really is. I have a theory as what they think, if they earn 7 usd dollar now, they think they will earn 3 dollars in bear market ehhe, no sheeps, you will not earn anything, you will pay to mine, only big farms with around $0.02kwh electricity power costs will be mining, anybody with $0.10 kwh electricity cost will pay to mine.
Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
This is true, only miners need to make the right decision. The growth of the Ethereum hash rate has stopped, and we do not know when the mining will end. The results of the first Ethereum 2 testnets will be announced in December 2021.The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
But newbies still buy graphics cards at high prices, as novice miners did in 2018.
For example, I bought equipment if its payback was about 8-10 months, or maximum 12 months.
I don't think that many miners bought equipment in 2019, when the profit was from zero to several tens of cents.
Many miners had negative profit and turned off their farms. Check out the hashrate history.
Keep mining, that's all I can say because we don't really know if ETH will put an end to PoW algorithm in 2022 and also there are many altcoins already that miners can still mine once bull season is no more, in fact it will be more easier to mine in bear market than bull market
Well things are different now compare to 2018, ETH mining wasn't coming to an end in 2018 only the market is down and still I believe it was a good time to keep mining because difficulty reduced alot and miners earn more ETH than 2017, these miners became the real winner in 2020 I believe, the best time to keep mining is in bear market, mine and store your coins
Concerning cost, in 2019, to buy 1 eth was around 100 usd and to mine 1 eth was around 160 usd so it was proven that in bear market buy coins was around 60% better than mine it, mining is only good in a bull market because bear market has no profit, bear market mining means no profit, that is where you must have a lot of money to pay to mine, only idiots mine in a bear market but hey smart whales and manipulators need idiots to do the dirty work for them while they are enjoying their lives as best as they can and by the way there is nothing different than 2018, everything is pretty similar, huge pumps now and then and very soon will be huge dumps now and then hehe
Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
This is true, only miners need to make the right decision. The growth of the Ethereum hash rate has stopped, and we do not know when the mining will end. The results of the first Ethereum 2 testnets will be announced in December 2021.The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
But newbies still buy graphics cards at high prices, as novice miners did in 2018.
Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
This is true, only miners need to make the right decision. The growth of the Ethereum hash rate has stopped, and we do not know when the mining will end. The results of the first Ethereum 2 testnets will be announced in December 2021.The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
But newbies still buy graphics cards at high prices, as novice miners did in 2018.
imho...
Buying a gpu outright with fiat right now prob isn't a great idea unless you get it cheap. (not impossible just highly improbable).
But what if you are a miner already? The value you are extracting costs you 1/8 the fiat price. Or even less depending. Lets use a round number
100 USD per month from mining, Assuming 0.01/kilowatthour aprox cost is 10 dollars per month. Profit 90. These are not accurate btw just example. So at the end of the month you have 90 dollars but, it cost you 10 in power.
You bought a brand new video card with that 90 dollars. (work with me here its not a real number).
What was the actual cost of the video card for you? Was it 90 dollars? No it was not. It was 10 dollars, assuming that the existing equipment is already paid for. So buying an overpriced video card isn't as expensive for that person.
Did you lose money. Yes but not really. You Made less money but, didn't lose money. Whats the ROI? Its not 6 months or 2 years. Its 1 month. You paid 90. You make aprox 90 therefore ROI is 1 month. Even for the overpriced video card that normally sells for 60 dollars... for This example of a miner.
Established miners can function just fine in this economic environment. Getting started is harder.
Buying a gpu outright with fiat right now prob isn't a great idea unless you get it cheap. (not impossible just highly improbable).
But what if you are a miner already? The value you are extracting costs you 1/8 the fiat price. Or even less depending. Lets use a round number
100 USD per month from mining, Assuming 0.01/kilowatthour aprox cost is 10 dollars per month. Profit 90. These are not accurate btw just example. So at the end of the month you have 90 dollars but, it cost you 10 in power.
You bought a brand new video card with that 90 dollars. (work with me here its not a real number).
What was the actual cost of the video card for you? Was it 90 dollars? No it was not. It was 10 dollars, assuming that the existing equipment is already paid for. So buying an overpriced video card isn't as expensive for that person.
Did you lose money. Yes but not really. You Made less money but, didn't lose money. Whats the ROI? Its not 6 months or 2 years. Its 1 month. You paid 90. You make aprox 90 therefore ROI is 1 month. Even for the overpriced video card that normally sells for 60 dollars... for This example of a miner.
Established miners can function just fine in this economic environment. Getting started is harder.
Bear market is coming that's for sure, my advice is we should stop buying GPUs for now and focus more on altcoins, when bear market comes GPUs will be less costly and that's the perfect time to start buying GPUs again, 2022 will still be a good year to continue mining coins if you already have your GPUs mining, don't buy GPUs at high price right now and you will be fine
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already what about you?
what about you? I bought my new rig in February 2021 and just made ROI in early October because of the price of Ethereum going up from when I started.It was luck by my side this year but luck can completely turn around on me in the upcoming year and the price of Ethereum may go down so I don't make as good progress as I did in 2021.In the end no one can predict the future.
Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
This right here is the best reply.
Nobody knows what will happen.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
The price can trade sideways for the next 12 months and it’s bad for miners since the difficulty will also keep going up. So our profits will keep going lower and lower.
Price can also go down which would make us make less money exponentially since hashrate is high while price is dropping.
Or ETH can go to something crazy like $10K and it’ll be a very profitable year like in the past. The difficulty will increase but so will the price.
It's more smarter to buy altcoins right now instead of GPUs because you will easily make more money, buy metaverse projects and Play2earn coins like Atari tokens, polygonum, wonderhero, dogedash, Vulcan forged, Citizen Finance, polkacity etc
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already what about you?
this bullrun expected longer than previous history, might be til summer 2022, and for mining profit, surely jump in last final phase and sinking after crypto dump what about you? sure till end of this year mining still profitable at 0.1$ electric price, and from my experience break even will occur 1,5 year from crypto dump, then unprofitable till spark again
Now you don't need to buy video cards, because in December prices for electronics are the most expensive. And the profit during mining is constantly falling, because the network hash rate is increasing.
I do not know how the author of the topic managed to return his investment in the purchase of video cards in a few months. Even six months ago, the payback was about 10 months.
I do not know how the author of the topic managed to return his investment in the purchase of video cards in a few months. Even six months ago, the payback was about 10 months.
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already what about you?
what about you? I'm one of them and I'm still warning people not to because crypto grew so much that this has become a bubble, actually it was already a bubble back in February, so anybody that bought gpus at that time and made to roi just got lucky but hey that is how it works, you win or lose, anyway, the advice not to buy gpus was and is the right thing to do because this still a bubble and can pop anytime. The same thing applies to when everything crashes hard 95% and then nothing grows in years and I was the one saying to people that was the time to buy coins and many to this day did not follow my advice and many back few months did not follow my advice too, my point is, my advice is reasonable to how the market is at moment, i do not go with the flow, I'm not with the group that manipulates crypto, I say what i think is right at that time, now saying to people buy gpus or coins in a bubble is the same thing saying to a person to jump from an airplane without paraglides.
Well you can always invest what you are willing to lose, for example I still hold 20% of eth and to this date I have not sold, I'm willing to lose to an extent, will create a stop loss after 5k and see how far it will go, in 2018 I did not sell my last 20% of eth at 1400, was waiting at least 2k and it crashed to 80 usd and I regretted but hey it was a gamble, anyway, this is a bubble and I'm betting 20% what I had in total that manipulators will take eth to at least 8k or close 0.1 btc and then hehell crash. You do you.
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already what about you?
what about you? What GPU´s you bought the last month´s to take the ROI in real? I don´t think you touch the ROI. GPU´s need about 1 year to touch the ROI. Example AMD 6600XT with 32mh cost around 650€ and do less than 2€ a day after electricity. Maybe you touched the ROI because the ETH price go up, but next year the bear market will come and your ROI for overpriced cards will go to 2 or more years.
Today is December 1st 2021 and I will like to know how your mining experience have been so far, also what do you think about mining in 2022 do you think it's a good time to buy graphic cards? What happened to all those warning us to stop buying cards few months ago? I've made back my ROI already what about you?
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