There are many downsides due to mining.
For one you can start at the worst month like 1 month before ETH POS and you won’t get your initial investment for the GPUs.
Your GPUs can die and you might get issues with the RMA if they think you were mining with them.
Excessive heat in your place. Massive amount of electricity that can lead to fires.
So there are pros and cons to each investment nothing is risk free.
Topic: Whats the downside of Crypto GPU mining? (Read 254 times)
I really like GPU mining and think it has always had a great upside and been within reach for the normal person to take advantage of in order to earn more BTC using platforms like Nicehash. However, right now is a period of great uncertainty with ETH going PoS and more ASICs on the way for every algorithm you can think of... The government is also cracking down on staking which may effect some of these coins as well. So going hard into GPU mining could result in you ending up with a bunch of GPUs that can't profitably mine anything that you have to sell at a loss. That's the downside.
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.Its good to know upside and downside for both of the hardware before you get into mining.
When there are a lot of miners, these advantages will not bring profit. For the last 7 years before the end of Ethereum mining, only this coin gave a stable income to most miners.
The only ones now having a try by taking advantage of the GPU mining are those who have already the gear and are the ones who have mostly Nvidia 3000 series which consume relatively low energy.
These can try Ethereum substitutes as these substitutes are the same in price when Ethereum started exactly 7 years ago and while they maybe mining at a loss for now who knows what happen during the road in long term like in 2 or more years from now.Only these guys can claim benefits,the ones buying everything from the beginning are the ones risking who may end in profit in the long run but can also incur losses,while those who have the gear can most likely afford electricity bills and such continue even at a small loss chasing the bigger benefits.
https://www.hashrate.no/gpus
Today the Dynex coin shows a good profit, but in a few days I am sure the profit will decrease. As if Nvidia is issuing new coins for a new 4000 generation of video cards
And most of the shitcoins that are currently being mined may die in 2 years.
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.Its good to know upside and downside for both of the hardware before you get into mining.
When there are a lot of miners, these advantages will not bring profit. For the last 7 years before the end of Ethereum mining, only this coin gave a stable income to most miners.
The only ones now having a try by taking advantage of the GPU mining are those who have already the gear and are the ones who have mostly Nvidia 3000 series which consume relatively low energy.
These can try Ethereum substitutes as these substitutes are the same in price when Ethereum started exactly 7 years ago and while they maybe mining at a loss for now who knows what happen during the road in long term like in 2 or more years from now.Only these guys can claim benefits,the ones buying everything from the beginning are the ones risking who may end in profit in the long run but can also incur losses,while those who have the gear can most likely afford electricity bills and such continue even at a small loss chasing the bigger benefits.
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.Its good to know upside and downside for both of the hardware before you get into mining.
When there are a lot of miners, these advantages will not bring profit. For the last 7 years before the end of Ethereum mining, only this coin gave a stable income to most miners.
Profitable times will come, not only mining at loss but also investing.
It is also not a bad idea to prepare for the worst so you won't get wrecked by an unexpectedly long time of mining at a loss or something similar. Some people always expect the best thing to happen and then they fail to prepare a contingency plan which results in massive losses and affects their livelihood. Better safe than sorry.[/quote]
Diversification to spread investments across different assets and markets to reduce risk and increase returns over the long term. It is a key principle of investing and helps to minimize the impact of losses in one area on an overall portfolio.
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I had the issues with the bad solder joints but mining had nothing to do with the cause. Many gamers had the same issue with dead GPUs which they had to bake in oven to get going again.
The most likely cause of the joints cracking is the heavy heatsink and the GPU might of been improperly shipped. Also another common reason is if you try and reapply pause, the old dry paste is glued on and you have to pull it harder and it ends up cracking the joints. Hence why I stopped reapplying thermal paste. It did nothing in terms of temperature, only increased risk of damaging the gpu.
The most likely cause of the joints cracking is the heavy heatsink and the GPU might of been improperly shipped. Also another common reason is if you try and reapply pause, the old dry paste is glued on and you have to pull it harder and it ends up cracking the joints. Hence why I stopped reapplying thermal paste. It did nothing in terms of temperature, only increased risk of damaging the gpu.
old thermal paste that dried up tends to be "not sticky" anymore, from my experience. maybe your cards are cool and the paste don't need reapplying, you even say that it does not improve temps, yeah as long as they are not over heating do not change them.
I had the issues with the bad solder joints but mining had nothing to do with the cause. Many gamers had the same issue with dead GPUs which they had to bake in oven to get going again.
The most likely cause of the joints cracking is the heavy heatsink and the GPU might of been improperly shipped. Also another common reason is if you try and reapply pause, the old dry paste is glued on and you have to pull it harder and it ends up cracking the joints. Hence why I stopped reapplying thermal paste. It did nothing in terms of temperature, only increased risk of damaging the gpu.
The most likely cause of the joints cracking is the heavy heatsink and the GPU might of been improperly shipped. Also another common reason is if you try and reapply pause, the old dry paste is glued on and you have to pull it harder and it ends up cracking the joints. Hence why I stopped reapplying thermal paste. It did nothing in terms of temperature, only increased risk of damaging the gpu.
are with 4-6 GPU-s each,from the 2000 or 3000 series from Nvidia which I consider good cards for mining still.Also if you do not have the capacity to pay the energy for the complete rig,simple,run it with 1,2 or any amount of cards that you can pay the electricity bill.
I'd suggest waiting a bit more since it seems like the GPU price will drop because there is too much supply. I've been surfing PC-related forums and many reports also claim that GPU sales are decreasing because the price is too much for most buyers. This might be the 'correction' time for GPU pricing after the insane price hike over the last few years, which some people attributed to mining or the increase in the price of GPU parts. Whatever the reason is, buying a new GPU right now can be quite tricky. CMIIW.Profitable times will come, not only mining at loss but also investing.
It is also not a bad idea to prepare for the worst so you won't get wrecked by an unexpectedly long time of mining at a loss or something similar. Some people always expect the best thing to happen and then they fail to prepare a contingency plan which results in massive losses and affects their livelihood. Better safe than sorry. I actually disagree with all of your points. GPU mining is far cheaper than ASIC mining, can be done with alternative energy, can be done via NiceHash so you’re getting BTC and can easily switch to the most profitable coin at the moment, you’re competing with amateur GPU miners instead of ASIC data centers, and GPUs are much easier to scale than ASICs.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I agree with you,there is not a better way to start mining then with GPU mining.It was cheaper and now is even cheaper,just go look in Ebay or other marketplaces to see that you can buy miners that used to cost over 4000 dollars for 1500 dollars or less now and they are with 4-6 GPU-s each,from the 2000 or 3000 series from Nvidia which I consider good cards for mining still.Also if you do not have the capacity to pay the energy for the complete rig,simple,run it with 1,2 or any amount of cards that you can pay the electricity bill.
The only downside to this is that we are mining at a loss from almost 6 months now,since ETH moved to PoS but I am sure slowly this will change.
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I actually disagree with all of your points. GPU mining is far cheaper than ASIC mining, can be done with alternative energy, can be done via NiceHash so you’re getting BTC and can easily switch to the most profitable coin at the moment, you’re competing with amateur GPU miners instead of ASIC data centers, and GPUs are much easier to scale than ASICs.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I agree with you,there is not a better way to start mining then with GPU mining.It was cheaper and now is even cheaper,just go look in Ebay or other marketplaces to see that you can buy miners that used to cost over 4000 dollars for 1500 dollars or less now and they are with 4-6 GPU-s each,from the 2000 or 3000 series from Nvidia which I consider good cards for mining still.Also if you do not have the capacity to pay the energy for the complete rig,simple,run it with 1,2 or any amount of cards that you can pay the electricity bill.
The only downside to this is that we are mining at a loss from almost 6 months now,since ETH moved to PoS but I am sure slowly this will change.
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.Its good to know upside and downside for both of the hardware before you get into mining.
WEBSITE | INSTAGRAM | TELEGRAM | TWITTER | YOUTUBE
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
Yes, mining on GPUs (graphics processing units) such as video cards is more common among individual miners due to their lower cost and relative ease of use compared to ASICs (application-specific integrated circuits). Additionally, GPUs can also be used for gaming, which allows them to have a secondary market value after they are no longer profitable for mining. However, it's worth noting that the power consumption of GPUs can still be relatively high, and the increased demand for GPUs from miners has led to shortages and higher prices for gamers.WEBSITE | INSTAGRAM | TELEGRAM | TWITTER | YOUTUBE
Mining on videocards is available to any user. An ordinary person will not buy an ASIC for a house or apartment because of its noise and high power consumption. The videocard has a longer warranty period and sells well to miners and gamers.
I actually disagree with all of your points. GPU mining is far cheaper than ASIC mining, can be done with alternative energy, can be done via NiceHash so you’re getting BTC and can easily switch to the most profitable coin at the moment, you’re competing with amateur GPU miners instead of ASIC data centers, and GPUs are much easier to scale than ASICs.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I believe the downside is both ASIC and GPU, some cases ASICs even more as GPU is multipurpose hardware and has real value (resale) . Where ASIC miners are metal bricks. When they are not profitable can throw them out in bin.
#There is good and bad in both just trying to address some issues for new miners to take in affect.
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The worst thing about mining when turn off the rigs, the tin solder joiner began brittle and some of them gonna fail when tried to turn on again, or wait for fungus hit the gpu, these things always happen for me, maybe here humidity to high and i need to cleaned up with detergent + alcohol and tried to heat up the gpu with some flux
Spot on. I have actually the same issue , shut down rigs for repair and clean since merge and most of them have issue now. Humidity is to high in my mining location also.
I actually disagree with all of your points. GPU mining is far cheaper than ASIC mining, can be done with alternative energy, can be done via NiceHash so you’re getting BTC and can easily switch to the most profitable coin at the moment, you’re competing with amateur GPU miners instead of ASIC data centers, and GPUs are much easier to scale than ASICs.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
I would say the downside is limited to heat and noise for many small miners. Most other drawbacks are addressable.
The worst thing about mining when turn off the rigs, the tin solder joiner began brittle and some of them gonna fail when tried to turn on again, or wait for fungus hit the gpu, these things always happen for me, maybe here humidity to high and i need to cleaned up with detergent + alcohol and tried to heat up the gpu with some flux
Thinking about getting into crypto mining but not sure if it’s the right move? Here are some downsides to consider:
Before jumping into crypto mining, it’s important to weigh the potential downsides against the potential rewards. Do your research, and make an informed decision.
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- High costs: Building a GPU mining rig can be costly, with the cost of the GPU, power supply, and other components adding up quickly.
- Limited scalability: Scaling up your GPU mining operation is difficult and can be expensive.
- High competition: With more and more people getting into crypto mining, competition for block rewards is becoming increasingly fierce.
- Volatility: The value of cryptocurrencies can be extremely volatile, making it difficult to predict the profitability of mining.
- Environmental impact: Crypto mining can consume a lot of energy, and the energy used is mostly coming from non-renewable sources which can have a negative impact on the environment.
Before jumping into crypto mining, it’s important to weigh the potential downsides against the potential rewards. Do your research, and make an informed decision.
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