What will you do when you cant mine Eth anymore?

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: devil2man on October 27, 2021, 11:31:47 AM

personally when it will no longer be possible to mine eth i will not sell all my gpu but i will put them to mine some other coins even if with less profit i thought, i was oriented or on ravencoin or on aion, in the meantime other profitable coins could also come out for mining

You will first wait until the end of Ethereum mining, because until now the development team has not named the coveted date.
Perhaps old video cards will become useless, but the owners of new video cards will be able to make a small profit if the cost of electricity is low.
But I think miners will be disappointed with electricity prices over 5 cents.

devil2man

member

Activity: 759

Merit: 15

personally when it will no longer be possible to mine eth i will not sell all my gpu but i will put them to mine some other coins even if with less profit i thought, i was oriented or on ravencoin or on aion, in the meantime other profitable coins could also come out for mining

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: philipma1957 on October 23, 2021, 06:16:52 PM

Yep we have talked and you power is lower than mine
and my gear is cheaper than you pay.

https://www.newegg.com/nvidia-rtx-a4000-vcnrtxa4000-pb/p/N82E16814132091? I get this for 1200-1250

https://minerdude.com/product/pre-order-minerdude-x12-xtreme-12-gpu-smart-mining-rig-pre-order-delivery-late-aug-early-sept/ and these at 1000-1100

you can build and set up in under 90 minutes

these will be our go to rigs from now on. But 1 a month at the moment. I can't justify faster procurement .

These are very good prices. In Russia, such video cards cannot be bought even at approximate prices. I can buy from a trusted store for 2x the price, or make a prepayment to an unwelcome seller to buy at a cheaper price, but this may turn out to be a scam.
Have you thought about selling components to other countries?

fmz89

legendary

Activity: 1764

Merit: 1002

Quote from: darkdude on October 14, 2021, 04:34:43 PM

I know we dont know when Eth 2.0/PoS is coming, but it IS coming at some point. Curious what my fellow miners will do when they cant mine eth anymore... I have heard people might mine eother PoW coins like RVN, however profits will be much lower due to the hash from eth will move to rvn to a degree (and the rest of the PoW coins). you could go ASIC SHA-256 route and taker a crack at BTC, but good luck trying to get your hands on a miner. There are some new projects like Chia and Helium which look interesting that have a different take on mining.

Perhaps you might take your eth you have and stake it, and if you have less than 32 eth, perhaps you will join a staking pool.

I for one, have not decided other than I know I would like to continue in some capacity with mining.

Thoughts?

well i think when eth hit full pos, on that day maybe already retire lol Grin

there is so many mineable coin out there, even all gpu flooding on seeling after eth off, gamer should be catching all those dump

and for miner side is good that network more room to breath then

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: FP91G on October 23, 2021, 10:11:29 AM

Quote from: philipma1957 on October 23, 2021, 09:59:53 AM

Quote from: FP91G on October 20, 2021, 07:20:05 AM

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

Yes have some cash/credit ready for cheap cards.

But if you want to add a few at premium now It is okay.

It differs for each of us.

I have cheap power to spare and could add 100 cards today actually 300 cards. With some simple but not cheap circuits added.

I have 5 x 30 amp 240 volt circuits empty they can do 2x 12 cards rigs. or 24 cards x 5 = 120 ready as I type.

we could add 12 circuits that means 24 x 12 = 288 with additional circuits and more cooling.

With this in mind. I slowly add minerdude cases and rtx a4000 cards.

if they were cheaper I would buy quicker.

but I pay 1200 a card and 1000 for the rig total of 12x1200= 14400+1000 which is 15400 a rig

I feel a true price for this rig is less maybe 700 x 1200 = 8400 + 600 which is 9000 a rig

now to buy rigs at 15400 when I think they are worth 9000 is okay if I buy slowly. Keeping cash in reserve for a crash down to the lower prices.

We can add a rig a month at the 15400 price

I agree with you, but there are a few things to keep in mind.
You live in America. You have cheaper video cards and other equipment, but electricity is very expensive. In your case, with a cheap price of electricity, I would also buy.
In Russia, cheap electricity, but video cards are 60-100% more expensive.
Therefore, I am not buying now.

Yep we have talked and you power is lower than mine
and my gear is cheaper than you pay.

https://www.newegg.com/nvidia-rtx-a4000-vcnrtxa4000-pb/p/N82E16814132091? I get this for 1200-1250

https://minerdude.com/product/pre-order-minerdude-x12-xtreme-12-gpu-smart-mining-rig-pre-order-delivery-late-aug-early-sept/ and these at 1000-1100

you can build and set up in under 90 minutes

these will be our go to rigs from now on. But 1 a month at the moment. I can't justify faster procurement .

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: philipma1957 on October 23, 2021, 09:59:53 AM

Quote from: FP91G on October 20, 2021, 07:20:05 AM

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

Yes have some cash/credit ready for cheap cards.

But if you want to add a few at premium now It is okay.

It differs for each of us.

I have cheap power to spare and could add 100 cards today actually 300 cards. With some simple but not cheap circuits added.

I have 5 x 30 amp 240 volt circuits empty they can do 2x 12 cards rigs. or 24 cards x 5 = 120 ready as I type.

we could add 12 circuits that means 24 x 12 = 288 with additional circuits and more cooling.

With this in mind. I slowly add minerdude cases and rtx a4000 cards.

if they were cheaper I would buy quicker.

but I pay 1200 a card and 1000 for the rig total of 12x1200= 14400+1000 which is 15400 a rig

I feel a true price for this rig is less maybe 700 x 1200 = 8400 + 600 which is 9000 a rig

now to buy rigs at 15400 when I think they are worth 9000 is okay if I buy slowly. Keeping cash in reserve for a crash down to the lower prices.

We can add a rig a month at the 15400 price

I agree with you, but there are a few things to keep in mind.
You live in America. You have cheaper video cards and other equipment, but electricity is very expensive. In your case, with a cheap price of electricity, I would also buy.
In Russia, cheap electricity, but video cards are 60-100% more expensive.
Therefore, I am not buying now.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: FP91G on October 20, 2021, 07:20:05 AM

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

Yes have some cash/credit ready for cheap cards.

But if you want to add a few at premium now It is okay.

It differs for each of us.

I have cheap power to spare and could add 100 cards today actually 300 cards. With some simple but not cheap circuits added.

I have 5 x 30 amp 240 volt circuits empty they can do 2x 12 cards rigs. or 24 cards x 5 = 120 ready as I type.

we could add 12 circuits that means 24 x 12 = 288 with additional circuits and more cooling.

With this in mind. I slowly add minerdude cases and rtx a4000 cards.

if they were cheaper I would buy quicker.

but I pay 1200 a card and 1000 for the rig total of 12x1200= 14400+1000 which is 15400 a rig

I feel a true price for this rig is less maybe 700 x 1200 = 8400 + 600 which is 9000 a rig

now to buy rigs at 15400 when I think they are worth 9000 is okay if I buy slowly. Keeping cash in reserve for a crash down to the lower prices.

We can add a rig a month at the 15400 price

perri

jr. member

Activity: 215

Merit: 3

Quote from: FP91G on October 20, 2021, 07:20:05 AM

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

I get some RX series at the time at a pretty good price. RX series seems the miners favorite from 2015 to 2017

FP91G

legendary

Activity: 1834

Merit: 1131

In 2019, when mining became non-profitable, the network hash rate decreased from 300 terahesh to 150, then many good video cards were sold for $ 150-200, for example AMD Vega 56 and Vega 64. Check how much these video cards cost now.
We must be ready for a new sale of video cards.

perri

jr. member

Activity: 215

Merit: 3

Quote from: alucard20724 on October 19, 2021, 12:14:34 AM

i will buy people's old gpu at a deep discount and mine something else that isn't eth. Grin

Sound like a melodious song, buy me some!
Any thoughts about this project, by the way? GBYTE [GBX]
ANN thread: https://bitcointalksearch.org/topic/ann-gobyte-gbx-masternodes-pow-secure-asic-resistance-gobyte-pay-2442185

Is someone here has tried to mine this?

Cryptoababe

member

Activity: 898

Merit: 19

Do it For Better Humanity (Bitget trader)

If i can't mine eth.. I will mine other coins.
Normally, as eth starts burning, even people will prefer to buy than to mine.

alucard20724

sr. member

Activity: 703

Merit: 272

i will buy people's old gpu at a deep discount and mine something else that isn't eth. Grin

adaseb

legendary

Activity: 3808

Merit: 1723

I think if ETH 2.0 is officially confirmed and an estimated timeframe is given, you will see the hashrate slowly decrease as it comes closer and closer to the date. It will be mining who will be liquidating their farms to sell because the supply rises of the GPUs. This is only my theory. Might not be the case.

However whenever there was an BTC halving we saw that the hashrate barely changed. Reason why is because miners prepared for it months in advance. They sold off their old inefficient gear and upgraded to new gear. Hence why I think the same will happen with ETH.

Temido2222

jr. member

Activity: 68

Merit: 2

ETH 2.0 has been pushed back for so long that it's safe to assume that it will never happen and when it does happen, make the call to sell your cards

perri

jr. member

Activity: 215

Merit: 3

Quote from: XUR_TIP on October 15, 2021, 02:30:31 PM

If this is true then there is still time to keep buying GPUs and mining as well

I might agree with keeping on mining for the rest of the time, but no idea with keep buying GPUs.

XUR_TIP

member

Activity: 227

Merit: 24

Quote from: flip4flop on October 15, 2021, 10:51:03 AM

With the proposal to push the difficulty bomb to May of 2022 I am not worried about this happening till Q2/Q3 next year. They had some serious bugs in the test net and this is not ready for prime time. I expect to see this pushed back more and will continue to mine away until then.

If this is true then there is still time to keep buying GPUs and mining as well, ETH 2.0 will come with many bugs that will definitely cause some delays, this isn't a new thing when it comes to ETH team and Devs, delays and delays until ETH PoS looks so far away yet again

flip4flop

full member

Activity: 378

Merit: 135

With the proposal to push the difficulty bomb to May of 2022 I am not worried about this happening till Q2/Q3 next year. They had some serious bugs in the test net and this is not ready for prime time. I expect to see this pushed back more and will continue to mine away until then.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: darkdude on October 14, 2021, 04:34:43 PM

Thoughts?

As soon as mining is not profitable, I will start selling old video cards and buying new ones at a good price.
In the meantime, Ethereum can be mined, then I will do it.
Next month there will be a new piece of news about the Ethereum 2.0 testnet.
Maybe the change of the algorithm will be postponed for some time.

perri

jr. member

Activity: 215

Merit: 3

Quote from: batsonxl on October 15, 2021, 05:27:11 AM

Dear miners calm down dont worry. we talked it many times GPU mining will not die any time sooner. There so big money playing.

I hope so! fingers crossed

batsonxl

member

Activity: 1201

Merit: 26

Dear miners calm down dont worry. we talked it many times GPU mining will not die any time sooner. There so big money playing.

perri

jr. member

Activity: 215

Merit: 3

Quote from: darkdude on October 14, 2021, 04:34:43 PM

Thoughts?

I have few things on my mind!

Turn all the GPUs to be fresh money, but I'm not sure for doin' something new.
Move to other coins might be worth it if most miners decided to stop (related to network hashrate)
Turn GPUs mining rigs into a brute-force rig.
If we know how to offer this service, it might be a good chance for ex-miner doing this business.

I'm not good at design, video editing, and such things. Outside my mind.

I don't decide yet what to do next if it happens Grin

CryptoATM

member

Activity: 368

Merit: 15

I have Vega graphic cards that are so good for ergo mining and I have 3070ti that is good for ravencoin, I will be good if ETH pow is no more but the chances still feels so slim to me cos PoW algorithm is the reason why ETH makes lot of sense since launch apart from smart contract ability.

pieppiep

hero member

Activity: 1596

Merit: 502

Maybe they will mine the other coin which compatible with their hardware and still earning the rewards. No matter what the coin is, if they can still be profitable from mining, they will not stop and search for the other coins. If they can earn big rewards from their hardware and the coin price suddenly increases, they will profit. After all, we do many things in crypto because of wanting to make a profit and if that thing is not profitable anymore, we can use the other way to keep the profit.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

I think RVN is really cheap in price and we may continue to mine it and hodl it hoping for much better price once a lot of Ethereum hash rate is distributed equally to RVN,ETC and ERGO as the top three that mining people will go after as soon as Ethereum goes PoS but I think until late 2022 or early 2023 this won't happen.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: darkdude on October 14, 2021, 04:34:43 PM

I know we dont know when Eth 2.0/PoS is coming, but it IS coming at some point. Curious what my fellow miners will do when they cant mine eth anymore... I have heard people might mine eother PoW coins like RVN, however profits will be much lower due to the hash from eth will move to rvn to a degree (and the rest of the PoW coins). you could go ASIC SHA-256 route and taker a crack at BTC, but good luck trying to get your hands on a miner. There are some new projects like Chia and Helium which look interesting that have a different take on mining.

Perhaps you might take your eth you have and stake it, and if you have less than 32 eth, perhaps you will join a staking pool.

I for one, have not decided other than I know I would like to continue in some capacity with mining.

Thoughts?

“Dude eth will switch to progpow before it goes to POS”

read that and hope i am correct.

eth can’t possibly work as pos.

So if i am wrong and it does do 2.0 it will be the greatest crash and burn 🔥 item ever invented.

adaseb

legendary

Activity: 3808

Merit: 1723

Most likely if it does come, it will be time to turn off the rigs, disassemble them and sell the GPUs on Craigslist. Then maybe perhaps buy some Litecoin or Bitcoin ASICS and mine with those.

Sure there are other coins however there aren’t that many and that is the problem. Many coins are ASIC dominated and many others are unminable. So there is a small batch of coins left, all mid or low cap in value. And if everybody starts to mine those coins the profits will be so low that even with free or cheap electricity it won’t be worth the hassle.

darkdude

jr. member

Activity: 113

Merit: 1

I know we dont know when Eth 2.0/PoS is coming, but it IS coming at some point. Curious what my fellow miners will do when they cant mine eth anymore... I have heard people might mine eother PoW coins like RVN, however profits will be much lower due to the hash from eth will move to rvn to a degree (and the rest of the PoW coins). you could go ASIC SHA-256 route and taker a crack at BTC, but good luck trying to get your hands on a miner. There are some new projects like Chia and Helium which look interesting that have a different take on mining.

Perhaps you might take your eth you have and stake it, and if you have less than 32 eth, perhaps you will join a staking pool.

I for one, have not decided other than I know I would like to continue in some capacity with mining.

Thoughts?

Topic: What will you do when you cant mine Eth anymore? (Read 377 times)