Why profitability is going down in GPU-mining ?

philipma1957

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Quote from: FFI2013 on May 10, 2017, 06:02:33 AM

Quote from: adaseb on May 10, 2017, 02:17:25 AM

For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

Isn't that the the truth I've been mining since LTC and have mined through when it was costing me more money in power than what I was making but the fact is now everyone only cares about $$$ and not the idea behind crypto currencies

Yeah here is my gear right now.

it earns 59 usd a day power is 9 dollars so 50 usd a day profit.

This is amazing profit.
If it slides down to 40 then 30 then 20 I would still be happy about it and I would allow it to mine at a loss of 10 dollars a day.

FFI2013

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Quote from: adaseb on May 10, 2017, 02:17:25 AM

For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

Isn't that the the truth I've been mining since LTC and have mined through when it was costing me more money in power than what I was making but the fact is now everyone only cares about $$$ and not the idea behind crypto currencies

Vaccinus

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Quote from: spyshagg on May 10, 2017, 05:01:39 AM

I am more worried about what will happen after ETH goes POS.

25 Th/s of computing power suddenly going to other gpu alt coins will destroy their current difficulty/profits.

there is ETC which will help, maybe ETC will go boom like ethereum and can give an hand to other coins with the hashrate from original ETH

Quote from: Batmain on May 10, 2017, 05:20:29 AM

Quote from: spyshagg on May 10, 2017, 05:01:39 AM

I am more worried about what will happen after ETH goes POS.

25 Th/s of computing power suddenly going to other gpu alt coins will destroy their current difficulty/profits.

The ETH will go to PoS gradually. It will take many years.

they said they are at 75% to have pos, i don't think 25% will take many years

Batmain

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Quote from: spyshagg on May 10, 2017, 05:01:39 AM

I am more worried about what will happen after ETH goes POS.

25 Th/s of computing power suddenly going to other gpu alt coins will destroy their current difficulty/profits.

The ETH will go to PoS gradually. It will take many years.

spyshagg

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I am more worried about what will happen after ETH goes POS.

25 Th/s of computing power suddenly going to other gpu alt coins will destroy their current difficulty/profits.

Ambros

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Quote from: Cubirez on May 10, 2017, 04:06:53 AM

Quote from: Cereberus on May 09, 2017, 01:53:08 PM

I was mining Zcash with my 2 GTX 1060 and I see that even with 90% fan speed the temp of the card stays at 73-75 degree celsius. No problem with the temp as it is normal but why profitability has gone down almost 20-30% during today and yesterday in Zcash mining ? Is it because the price rise in bitcoin and everyone is jumping on to make profit from this ?
I switch to Ethereum mining but only 19 mhs maximum and 0.90 mbtc per day as profit. Hopefully the situation will improve. At hashing ethereum with same fan speed temperature drops down to 66 degree celsius and tdp consumption 76% so I guess it is the same profitability.

What do you think ?

After a huge increase of the prices of the altcoins like we had over the last weeks, it's pretty normal that the profitability starts to decrease again :
Mining is currently so profitable that lots of people are setting up rig, thus increasing the overall mininf difficulty and reducing profits.

However mining profitability is relative to the unit you mesure it with.

A few months ago, eth mining profitability was about 20 USD / month for a Rx470, atm we are about 80 USD /month. However back then you would mine much more eth/month than currently. So if you chose to hold the eth, your profit was in fact much higher a few months ago than it is now o_O

That's a big truth, but no one was aware of the future.
You would have made almost the same amount of money just buying ETH at that time.

Cubirez

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Quote from: Cereberus on May 09, 2017, 01:53:08 PM

I was mining Zcash with my 2 GTX 1060 and I see that even with 90% fan speed the temp of the card stays at 73-75 degree celsius. No problem with the temp as it is normal but why profitability has gone down almost 20-30% during today and yesterday in Zcash mining ? Is it because the price rise in bitcoin and everyone is jumping on to make profit from this ?
I switch to Ethereum mining but only 19 mhs maximum and 0.90 mbtc per day as profit. Hopefully the situation will improve. At hashing ethereum with same fan speed temperature drops down to 66 degree celsius and tdp consumption 76% so I guess it is the same profitability.

What do you think ?

After a huge increase of the prices of the altcoins like we had over the last weeks, it's pretty normal that the profitability starts to decrease again :
Mining is currently so profitable that lots of people are setting up rig, thus increasing the overall mininf difficulty and reducing profits.

However mining profitability is relative to the unit you mesure it with.

A few months ago, eth mining profitability was about 20 USD / month for a Rx470, atm we are about 80 USD /month. However back then you would mine much more eth/month than currently. So if you chose to hold the eth, your profit was in fact much higher a few months ago than it is now o_O

thespycry

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Quote from: adaseb on May 10, 2017, 02:17:25 AM

For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

That's exactly what I said to my friend.. you earned 5 likes from me

)

Vaccinus

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Quote from: adaseb on May 10, 2017, 02:17:25 AM

For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

the liquidity is now much higher than before there is no returning back to what it was, bitcoin increased a lot for this reason, i think the value of all the altcoin will increase more in the future, more average joe are investing in this new market

Pennywis3

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Quote from: adaseb on May 10, 2017, 02:17:25 AM

For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

Exactly, it was about 1$/day per card in ETH ( RX 470/480 ).
Now its like more than 3 times that.

Im still doing my calculations at 1$/day because this alt bubble is gonna burst and many people gonna get a reality check very fast Cheesy

But, its realy nice atm, we all gonna roi a lot faster because of this bubble hehe.

adaseb

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For everybody complaining right now saying that mining is not profitable wait until you start making only 25% of what you are making now.

Which is pretty much what it was at the beginning of the year.

no1blue

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Mining eth when it 45$ now it 90$ profit drop Huh

szafa

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I was start minning couple months ago.

adaseb

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Profitability is dropping? Are you joking?

Or did you start mining 4 weeks ago

Elder III

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Mining altcoins will always have fluctuation of profitability, it's a guaranteed part of the process. Hold your cards tight to your chest and play the long game.

Coin++

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...and the difficulty is rising, no ?

Valgar

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Quote from: Cereberus on May 09, 2017, 02:54:21 PM

I was about to by a used R9 280X to add to my existing setup through the riser but have refrained from doing so because of profitability going down.

I just took delivery of two Furys...

Cereberus

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Quote from: Jdope on May 09, 2017, 02:20:24 PM

Altcoin market is on a frenzy today due to the btc rise, just mine Zcash and store them for a bit and you should do okay.

I don't like at all altcoins as cryptos but I am forced to mine them and paid in bitcoin. I am mining through Nicehash so I am getting paid directly in bitcoin. That is the coin to store for the longer term. Anyway thank you all for your help, I am waiting patiently now until profitability of altcoin mining rise again. I was about to by a used R9 280X to add to my existing setup through the riser but have refrained from doing so because of profitability going down.

Jdope

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Altcoin market is on a frenzy today due to the btc rise, just mine Zcash and store them for a bit and you should do okay.

Apneal

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Yea, alts fluctuate drastically in price, there's no real prediction for mining profitability into the future, people trying to do so with difficulty predictions etc are laughable. For example, using the same setup, ETH mining is twice as profitable today as it was 6 months ago, which no one predicted.

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