Topic: Will I be able to have profit from mining ETH in next 2-3 years with single 3080 (Read 189 times)

I adhere to market laws that say the number of mining devices will continue to grow as long as it is profitable. The more devices are mining, the less money you will receive every month.
I have seen Phase 1 test transactions where transactions can be processed using the PIC algorithm, but these transactions do not support smart contracts. The hardest part is Phase 2, when smart contracts will start working on the Ethereum 2.0 network.
And instead of speeding up work in this direction, the developers are offering hard forks for the Ethereum 1.0 network and level 2 solutions.

I just read a long thread on Reddit regarding EIP 1559.
I just read other peoples comments and I can see that thread is created to defend EIP 1559.
I'm very new to all this and I barely understand how everything works,but after reading comments and arguments of miners vs stakers I can see that many accusing miners for being greed.
However,I read some good arguments from miners and those who don't take neither side,and I see that stakers are basically new type of miners with same goal of pure profit.So they have same interest,but EIP will kick miners out of game and benefit more to stakers.
Did I get this situation right?
So you disagree with my plan to mine ETH while I can,and then mine other most profitable coin once ETH goes to POS and trade that coin for ETH,and by doing that I would slowly get ETH from trading and hold it for future when it reaches high price?
I think ETH has good future,or at least that's what I heard.
However,what is your opinion about trading ETH once it goes to POS for Bitcoin and holding it until around 2025.?
What do you think about Bitcoin and does it have ''better'' future than Ethereum?
I know that they are different algorithms and have differences,but I don't know what would that mean for me,since I'm looking only to earn as much as I can once either of them hits big numbers.

as long as gas fees from Ethereum are still expensive, you can still get profit from mining Ethereum, but if EIP (Ethereum Improvement Proposal) 1559 will be realized, then of course gas fees from Ethereum will go down and it will make your income definitely decrease too, especially if ETH 2.0 will be launched in the near future, then you will not get any more income from mining Ethereum, so in my opinion it is better if you don't focus on mining Ethereum for the long term, but if EIP (Ethereum Improvement Proposal) 1559 unrealized and ETH 2.0 isn't launching in the near future, then you can still get profit from mining Ethereum.

I would be happy to mine ETH as long as I can.
I'm thinking at long terms,so I would like to mine ETH as much as I can while it's in POW despite it can't reach $5,000 or so,and once POS time comes I would have decent amount of mined ETH,or at least I hope,so I would still hold it for some time until it reaches high price.
You said tha end of ETH mining may happen in several years,but among first comments devil2man said that ESIC is coming in July and it will have big effect in Crypto world and that ETH mining with GPU will end at latest by the end of this year.
I suppose you disagree with his predictions?

Chris Redfield, if you think fundamentally, then the price of ethereum cannot reach $ 5,000 as long as the coin uses the POW algorithm.
The transaction fees will be huge, which will cause huge discontent. But after abandoning the POW algorithm and transferring all operations to the blockchain with the POS algorithm, the Ethereum price has no ceiling.
Don't think now that you will be mining after Ethereum. The end of Ethereum mining may be approaching several years

Thanks everyone for sharing your opinion,I didn't manage to quote everyone since I never learned how to multi quote on bulletin forums.
Yeah,I was one of very few lucky that manage to grab RTX 3080 for good price and it gives great hashrate of 94 Mh/s and I'm aware that it won't gave that hashrate in next 2-3 years.However I still hope it will have decent hashrate of around 60 Mh/s,but I'm very optimistic with that prediction,I think it would realistically gave around 40Mh/s.
If mining still remain profitable and keeps growing and many big players like Musk,Paypal and Visa jump in it will help move things forward so I'm very cautiously optimistic for future of mining and crypto world in general.
I plan to hold my ETH and sell them in future,probably around 2025. as many said that it could jump to 10000-15000 dollars per ETH.
I honestly don't believe that ETH will worth that much even in 2028. if it reaches that big number at all.
I agree that it could realistically reach around 5-7K in 3 years,but I'm still hoping that it may reach 9-10K by the 2025. although I'm pretty skeptical.
While I was reading many prediction for ETH I saw that many ''experts'' agree that it could realistically reach 10k in 2025.,I'm not expert at all,but I still think it's a bit too optimistic.I won't event comment things like 20k.
One of you mentioned that I should switch to ETH classic after ETH goes to POS and I think that's good alternative or at least I heard it is,however when I check Whattomine I see that ETH Classic is on 35th place as most profitable coin.
I currently getting $9.33 of profit from mining ETH,and one of the next most profitable coins seems to be Conflux which would gave me profit of $5.68 per day.
That's still much more than ETH Classic which gives me profit of only $2.26 per day.
I'm curious how come is ETH Classic more profitable if I can get more Conflux and trade it for ETH?

Hi, welcome to the world of mining! 94 MH/s is a lot of power as on date but things will not remain as it is in 2-3 years for sure! You can use the below calculator to see your profitability.

https://www.cryptocompare.com/mining/calculator/eth

But once ETH 2.0 will be launched, you will quickly have to find a new coin to mine because it will be moving to POS algorithm. I think the best way to make profit is to hold your ETHs for now and sell it at a higher rate in future. I see you are ultra bullish with ETH. While I don't think ETH will go to 15k in 3 years but it definitely has the potential to reach at least 5-7k realistically.

So mine whatever you can now and wait for a better time to sell and book profit.

Once ETH 2.0 is done, you can no longer mine it because its consensus algo will change from POW to POS. But that's not the end of your mining desire because there are still other coins that you can mine with 3080. Use this website for checking.
https://whattomine.com/

Please move this topic to the section
Mining (Altcoins)
https://bitcointalk.org/index.php?board=160.0

Chris Redfield, no one knows how long it will take to mine Ethereum and how much profit this video card will give you.
If you do not plan to sell Ethereum until 2025, and your forecast is correct, then you will definitely make a profit.
just don't change your strategy

Does Ethereum Classic have bright future like Ethereum (original)?
As for other altcoins,from what I heard,there will be shift from strongest coin to another,just like Ethereum inherit Bitcoin.
I heard that there will always be one or two coins that will be strong as Bitcoin and ETH are now,it's just we can't predict that what exact coin that will be.
Is it true what they say about that,and does that mean I could have same profit as I have now ($150-$200 monthly) with RTX 3080,just with different coin?
And if that's possible,will that last for 2-3 years with my current GPU?

One thing I learned is that cryptocurrencies world is all about speculations and there is no definitive answer,but I like to hear anyone's opinion as well as yours.

Hello everybody,

I started mining ETH one month ago with single RTX 3080.I'm very new to all this and I still have lot to learn so please don't hate me if I ask stupid questions.
I know that ASIC was announced to be released in July and it will make mining more difficult for GPU miners.
I also know that transition to ETH 2.0 has began in December 2020 and we're in faze ''0''.
Some say that POW will end around 2024 and POS will begin.
I'm not too much familiar with things with going to POS and how less profit can I expect as time passes.
I have single RTX 3080 and I'm earning around $180 per month after I pay for electric bill.
I'm getting around 94Mh/s with my GPU and with current difficulty I get around 0.00460 ETH daily.

Since you're a lot longer in mining and have much more experience and knowledge,I would like to ask you to tell me your opinion if I'll have profit of at least $100 with payed electric bill in next 2 or maybe even if possible 3 years (I know 3 years is a bit too long)?

I don't plan to sell my ETH,but instead wait for value to jump for around $10000-15000 per ETH in around 2025. and then sell it.
I say $10000-$15000 per coin because that's what many say is realistic prediction.

So,judging by release of ASIC and transition to ETH 2.0 and POS,will I still be able to mine ETH with single RTX 3080 with success and decent profitability in next few years?