Won't be able to keep up | Bitcointalksearch.org

swogerino

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Quote from: Widdop37 on June 11, 2022, 01:01:17 AM

Quote from: FP91G on June 10, 2022, 12:57:52 PM

Quote from: devil2man on June 10, 2022, 04:55:42 AM

Turning off the rigs does not seem a good idea to me, you can try to mine something else like ergo, etc, raven but why not continue to mine eth if you are still profitable even if only slightly if you have 4gb ram cards there is always the zombie mode of lolminer

zombie mode has not been relevant for ethereum mining for a long time. You can check that the hashrate will be less than 1 megahash.
On 4GB video cards, you can mine other coins, where the DAG file has not yet exceeded 4 GB. Or mine Ethereum Classic and wait for the price to rise to $100.

Ethereum Classic back to 100$?? Lol that's some kind of a joke, there are coins that will do better than Ethereum Classic when ETH fully goes to PoS, for example Flux or Ergo, many think that once ETH goes to PoS ETC will take over, I do not believe this.

It can be a joke to some but if Ethereum goes truly PoS then the first coin that the Ethereum hash rate will migrate to is the Ethereum Classic which no matter how low is now it is still profitable to mine with for example a rig of a minimum of 300-350 Mhsh.

Mining Ethereum Classic is my plan B if Ethereum goes for real into PoS which I doubt will happen this year as that would brutally crash the price to like 20-30 USD per Ethereum before some kind of recovery starts and in the long term no one will want to have anything to do with Ethereum then.I am liking that the difficulty for Ethereum Classic is going down from 350 T to less than 300 T now.

Widdop37

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Quote from: FP91G on June 10, 2022, 12:57:52 PM

Quote from: devil2man on June 10, 2022, 04:55:42 AM

Turning off the rigs does not seem a good idea to me, you can try to mine something else like ergo, etc, raven but why not continue to mine eth if you are still profitable even if only slightly if you have 4gb ram cards there is always the zombie mode of lolminer

zombie mode has not been relevant for ethereum mining for a long time. You can check that the hashrate will be less than 1 megahash.
On 4GB video cards, you can mine other coins, where the DAG file has not yet exceeded 4 GB. Or mine Ethereum Classic and wait for the price to rise to $100.

Ethereum Classic back to 100$?? Lol that's some kind of a joke, there are coins that will do better than Ethereum Classic when ETH fully goes to PoS, for example Flux or Ergo, many think that once ETH goes to PoS ETC will take over, I do not believe this.

FP91G

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Quote from: devil2man on June 10, 2022, 04:55:42 AM

Turning off the rigs does not seem a good idea to me, you can try to mine something else like ergo, etc, raven but why not continue to mine eth if you are still profitable even if only slightly if you have 4gb ram cards there is always the zombie mode of lolminer

zombie mode has not been relevant for ethereum mining for a long time. You can check that the hashrate will be less than 1 megahash.
On 4GB video cards, you can mine other coins, where the DAG file has not yet exceeded 4 GB. Or mine Ethereum Classic and wait for the price to rise to $100.

0verseer

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I said you offload them for money and wait till the PoS hit, the price of GPU will be dumped harder when the merge happens. This is the time you reinvest your money to the latest GPUs to keep you ahead of the games. I think nvidia cards have a very decent hash in alternative PoW coins like Firo, Raven, Ergo. You should note that if you looking for alternative PoW coins to mine when PoW is no longer possible for ETH. Yes, it won't be right away but slowly diff bombs kick in, those PoW miners on ETH have to migrate to different PoW coins anyway.

5W-KILO

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Moon.win

Well those graphic cards while you can, right now the sells of GPU is slower than past months but some are still buying, sell before 30MH turned into 0.24$ where things will look hopeless, I contacted a rich GPU miner in my country today about buying some graphic cards and he said I knew better, now isnt the time to buy GPU lol.

Coinfarm ventures

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Quote from: Z390 on June 10, 2022, 01:13:23 AM

What if we don't go lower? What if you will end up waiting for something that will never happen? If BTC bottoms at 28,000$ to 32,000$ then it's over, Ethereum won't dip much more than many expected, in this case what will you do?.

I was talking about proof-of-stake, not price declines. PoS will wipe out 95% of the revenue available to GPU miners.

cudapop

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Quote from: rdluffy on June 10, 2022, 06:47:09 AM

...
Merge can happen this year and ETH dump instead of pump, due to unlock of staked coins
...

"Unlocking"/withdrawal of staked eth is not part of the merge. The withdrawal function is planned to be added in a later fork post-merge.

rdluffy

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Quote from: Z390 on June 10, 2022, 01:13:23 AM

What if we don't go lower? What if you will end up waiting for something that will never happen? If BTC bottoms at 28,000$ to 32,000$ then it's over, Ethereum won't dip much more than many expected, in this case what will you do?.

Maybe you're right, there's a chance we already are in the bottom of market (to be fair, the bottom of ETH until now, in this season is 1,724 USD for ETH and 26,782 USD for BTC), and a good plan should consider all possible scenarios, and this side market is one of them
What's hard to predict right now, harder than prices, is the merge / POS ETH, everything is going well until now, we can expect this year, but:

Something can go wrong, and can be postponed again, this is commom to ETH
Merge can happen this year and ETH dump instead of pump, due to unlock of staked coins
No one knows a future for miners without ETH, is there any coin there will be pumped and supported by miners?

devil2man

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Turning off the rigs does not seem a good idea to me, you can try to mine something else like ergo, etc, raven but why not continue to mine eth if you are still profitable even if only slightly if you have 4gb ram cards there is always the zombie mode of lolminer

Z390

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Quote from: Coinfarm ventures on June 09, 2022, 02:48:32 PM

Even if your power cost is 6 cents, it's probably a good idea not to own any Radeon RX 5000 or older / GeForce GTX 1000 or older video cards. I would wait until the big PoS crash and buy RTX 2080 Ti's or RTX 2070 super or RTX 3060 Ti cards for cheap, as they are very good at non-ETH algos.

What if we don't go lower? What if you will end up waiting for something that will never happen? If BTC bottoms at 28,000$ to 32,000$ then it's over, Ethereum won't dip much more than many expected, in this case what will you do?.

rdluffy

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Quote from: FP91G on June 09, 2022, 11:20:25 AM

These video cards are very good for Ethereum mining, and while mining is possible, they should not be turned off, even if the profit is minimal. The price of Ethereum may rise. But then it might be better to sell these video cards.

Just a reminder, not all of these cards are able to mine ETH due to dag size

Here's a chart, interesting to see:

Source: https://minerstat.com/dag-size-calculator

So, 1060 3gb, RX 570 and 580 4Gb models are not able to mine eth anymore.

Coinfarm ventures

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Even if your power cost is 6 cents, it's probably a good idea not to own any Radeon RX 5000 or older / GeForce GTX 1000 or older video cards. I would wait until the big PoS crash and buy RTX 2080 Ti's or RTX 2070 super or RTX 3060 Ti cards for cheap, as they are very good at non-ETH algos.

Outhue

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I'd sell if I were you because these graphic cards are old cards anyways, the minimum GPU you can find in my rig today is the 1660s, anything lower isn't welcome and at this point of time it's better to have GPUs that take a very low watt power since mining isn't profitable anymore.

FP91G

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Quote from: VRExpress on June 09, 2022, 12:12:29 AM

I believe that graphic cards like 1060 and rx580/570 will be very hard to run in this type of market right now, price of Ethereum isn't good and Ethereum mining difficulty is damn high, what else can someone do In this case than ro shut down the rigs and wait for difficulty to drop? What do you say.

These video cards are very good for Ethereum mining, and while mining is possible, they should not be turned off, even if the profit is minimal. The price of Ethereum may rise. But then it might be better to sell these video cards.

rdluffy

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1060 lauch date was 2016, and RX 580 and 570 was 2017
It's almost time to retire Cheesy

I find hard to answer because you didn't post more details here

How about your electricty costs?
If you have cheap electricity, let's say 5 cents, you can continue to mining
If you are running with solar, no reason to shutdown...

And your situation?
Maybe you need money to invest in something else, maybe you want to have cash for a possible (even more) bear market to buy coins

But generally speaking, it's becoming hard to mine even with newer cards, you have a lot of options

Sell these cards (again, I don't know how many you have) and buy new cards, like 3070 or 3080 and continue to mine
Sell these cards to buy BTC doing DCA
You can put Nicehash and let the app decides what's to mine

I only think that shutdown and wait is not the best idea, because cards will lose value, even for gamers...

swogerino

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Quote from: VRExpress on June 09, 2022, 12:12:29 AM

I believe that graphic cards like 1060 and rx580/570 will be very hard to run in this type of market right now, price of Ethereum isn't good and Ethereum mining difficulty is damn high, what else can someone do In this case than ro shut down the rigs and wait for difficulty to drop? What do you say.

Use them to mine Ethereum Classic instead.It is the only thing you can do with those cards if you do not want to shut down your miners,while Ethereum difficulty is really high over 14 P it is a completely different story for the difficulty of Ethereum Classic,it is not that high,the only downside to mining Ethereum Classic is that the rewards in money will be somewhat lower.This is what I would do in such situation of course if you can afford to pay electricity without problems you can do this,if not then shutting down your miners and wait to see what happens is also a good idea.

VRExpress

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I believe that graphic cards like 1060 and rx580/570 will be very hard to run in this type of market right now, price of Ethereum isn't good and Ethereum mining difficulty is damn high, what else can someone do In this case than ro shut down the rigs and wait for difficulty to drop? What do you say.

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