Bitcoin Forum

I strongly believe, that cryptomining community is the backbone of CRYPTOCURRENCY, and it's the future.
It is necessary and don't be afraid of building rigs, no matter what others say, I'm with you guys.

P.S: I had a few bears

haha the end made this even better!

Never say never :D But it's not going anywhere in near future if you have dirtcheap electricity price :)

Well, with current mining rate going down so fast, I'm gonna throw in the towel soon

During the concept of bitcoin, this is where the GPU mining started and it is almost 8 years since 2009, many ASIC miners come and go but GPU miners stands still as long there are still more altcoins and more algos coming each day GPU mining has a great role in cryptocurrency world because it is used a benchmark for mining profitability and it si also a benchmark for ASIC miners, ASIC miner won't exist without the basis of GPU mining. As long the blockchain reward embraces for Proof-Of-Work methodology, GPU mining is still there. The advantage of GPU mining over ASIC mining is that it has more resale value and serve other purpose for GPU intensive workhorse like gaming, video editing, CAD and other brute force cracking tasks. GPU mining is future proof.

Before electric cost I'm getting $2.33 per 1080 gtx ti per day, After electric cost probably just $1.50 a day at $ 0.15 cent watt rate.  That's pretty pathetic return compared to what the asics are getting now, At least $15-$30 per day.

I'm not giving up but at the same time it's much better to just buy the coins at current stage of mining and price levels.  Or focus on something else.  Currently gpu mining is not lucrative like it used to be and you have to rely on future appreciation or a pump to get your money's worth out of it.  Not a good position to be in currently.  

Just sayin, might be worth looking into masternode coins/staking/buying coins instead of over investing all your money  in just gpu

GPU mining doesn't have to be super profitable and it'll still be here for years. And maybe not everyone and their grandmonthers will mine (as it is/was the case this year), but plenty of people will.

ASICs are different, they're strictly just rigid investments and no ASIC owner just want to support coins while some GPU miners do.

Ideally, there shouldn't be big GPU mining farms, but everyone supporting the network mining with their computers here and there.

Sure, that's not how it works but at least most people with a computer have a dedicated GPU that can be used for mining while not many people own ASICs - and unlike GPUs, ASICs have no other use.

I also do believe that GPU mining will be here for a few more years. Enough time to ROI and profit from existing rigs.

Although as mentioned, the rates are not lucrative enough for some, they are still enough to be profitable. When it comes to GPU mining it is important to be looking to the future, aside from the potential for your mined coin's value to soar, new coins are being developed everyday that can be mined by GPUs.

Take for example the RNDR token (http://rendertoken.com). Built by Jules Urbach a very credible figure in the gaming world responsible for 3D web games, the RNDR token allows GPUs to be used for rendering everything you can imagine for whatever need be it AI, CGI, data analytics, whatever. Theres a lot of development in the crypto world to look forward to and GPU mining will always be useful somehow.

I think GPU mining is here for the long haul.  With as many coins as there are and new people coming into crypto every day it can't help but stay alive.  I've been mining Eth for a while now and will probably switch over to other coins in the near future.  

"Bitcoin Gold" is coming to save all the GPU miners. 
/rolls eyes
BTC hard fork on 10/25 that will give BTC owners equal amounts of BG (Like Bitcoin Cash did).  Supposed to give control back to the GPU miners as it will be Equihash alg.  Don't know how they are handling difficulty.  Coming out of China ..... could just be another shitcoin.  Who knows ........

However, with a name like "Bitcoin Gold" it has to be successful ......right? 

Don't forget even a 2 year ROI is amazing in the world of investment. People on wall street lose their minds over on that sweet 5% , uncorrelated with market annual returns.


If GPU mining maintains a "terrible" 2 year ROI for another 10 years, we'll still be rich  :)

^
This , the days are 2 month ROI are over but im quite comfotable with a 6 month to 1 year ROI or longer on my gear as long at electricity is under control

whats dead can NEVER die !!

Some coins cant be mining in ascic and gpu dont die.

I strongly believe that GPU mining is the only choice for small to medium business. ASICs are only profitable for who produces them and for the marketers hired by the producers (aka "I received my miner on time and my ROI is going so well")

GPU were not made as money making machines and this has empowered them in the long run.

100% a year is a bad roi ? you are being greedy mate. And remember, you can sell your 1080ti for 50% of purchase price so easily. If it's still reasonably new and you have all the receipts you are probably gonna get bit more. ASIC goes to bin once you done with it.

In longer term I just do not believe the GPU has the future in main stream. I am not saying GPU mining will totally disappear but in larger scale it will.

The simple reason for this is they are way too expensive to build (GPU rigs).

There will be a significant drop in ASICs pricing in future which will make it more and more profitable to use them for mining. Currently the situation in ASICs is absurd one manufacturer rules the field BUT fortunately this is not going to be the situation very long. Currently there is lot of happening behind the curtains and we will see how it goes when others specially big houses will come out with their own solutions.

When supply will increase the prices will decrease.

When the industry will solve the current scaling issues which mainly are preventing the large scale adoption the need of mining activities will skyrocket changing the demand so high that home computer GPU mining fades away. It just cannot meet the demand (costs and availability).

Also do not forget the future ASIC models are inside a very different what they are today. How much and how they will change will see when we see how POW, POS etc. things will develop.

You don't just mine.  Try to promote it on the side because more users = maintain profit.  I'm still looking a coin that would work not just bitcoin.   My friend knows a few underground communities that could use crypto currency and may gain popularity outside of those communities.

Look at Bitcoin fees and I'm a bit afraid to transfer money with lower fees.  Sometimes it took a week to get the money.  Certain altcoins can compete.

1 year roi is just for the cards only. Once you add in the cost of everything else to build the machine its much longer than a year and by that time it's time to upgrade to more efficient cards. Plus exhaust vent fan, air filter, electrical setup and your time and maintenance. I'm not greedy and if I've invested 10k in a GPU rig,  I cant even buy a cup of coffee as that will kill my ROI.

 Go look on the D3 antminer and litecoin miner threads. They are all crying that they can't roi in 6 weeks and they are not satisfied with $30 to $60 day per asic. Thats greddy

Gpu mining will be here for long time. Only "news" is that lots of new miners spoiled with ethereum mining
will go out from these busines. That is nothing new, same happened when btc switch to asic, ltc switch to asic...

i am sure there always be coins to mine on GPU rigs, however the new trend is PoS and MasterNode.
I think the best is to get involved with all of these methods, and you can't lose your money

Main prob with master nodes mining is u need a ton of coins, Dash i think is 1000? and eth
pos will be more I bet.  Only the ppl who got in stupid esrly can do this

not necessarily greedy if you account for the price they payed asics for.
I mean 1080Ti has double the hashrate on equihash than 1060 for instance, of course you're gonna pay more for 1080Ti than 1060, generally, the same goes for asics. It's scaling, but asic mining is more unpredictable and riskier than gpu mining and I never liked it... GPU FTW!

I agree about risk. Imagine worst case scenario, governments declare crypto is illegal, anyone caught using it will be jailed for 5 years. Crypto crashed 90%.


1080tis will be worth at least $450. Since I bought them at a discount, mostly $659, I lose $200 per card, about 30%. My ram even doubled in value lol, and those pentium G4560s retain value well. Mining motherboard probably lose half it's value, but it can be used as a normal LGA1151 board. My Vegas were bought at MSRP, probably will lose 15% on them. And polaris cards may reach sub $100, but those have ROI-ed many times already. PSUs well, they are still 1200/1600W top tier psus with 10 year warranty. Lose 25% on them I guess.

ASCIs will be worth nothing, a 100% loss.

Not to mention you gotta wait 2 months + for ASCIs, meanwhile you could get GPU rigs running in a day.


For ASCIs, they rightfully should have better ROI than GPUs due to higher risk + shipping delay.


To simply things, assume GPU rigs lose 50% of value in a crash, while ASCIs lose 100% of value. It means to equate risk profiles, we should compare earnings from $10k of ASCIs to $20k of GPU rigs.

I've been gpu mining for 3 to 4 years and it was the same when asic came out for litecoin most ppl turned off their miners and sold their equipment than gpu mining started to pickup again than went nuts everyone who sold was bitching they should of never have I stuck through it I'm not here to get rich I do this as a hobby but if your looking at it as a business I own my own flooring company and I work my ass off all summer making money than Nov,Dec, and Jan is really slow every business has good times and bad and can't expect to make great profits everyday if that was your reason for getting into mining maybe you shouldn't of I'm here cause I believe in Bitcoin and love mining

Girls and Boys !

Your calculations does not take into account that thing that UNTIL the whole markets are banned you are earning 10x in every month with ASICS so it really does not matter do you get 50% back (or even a bit more) from your initial investment when the game ends.

ASIC miner just throws the worthless ASICs to a trashbin and walk away 9x richer than GPUs owners...

Problem is: nobody sells to you a money making machine at a good price

Nobody is making 10x with ASIC except from PR users paid in machines delivered on time, to do promotion


GPU is still here for a reason :)

Im not saying GPU is dead. But the fact is you will get much better profits by ASICs. My message and point wasn't the exact numbers but the profit gap. It is large enough so the resale value does not matter in practice.

What comes to availability currently you can buy S9s directly from Bitmain. D3 and L3+ are out of the stock. But this is now. It will be interesting to see what happens in the first half of 2018 on this field.

GPU rigs can be bought now and you are up within 1-2 weeks. So if the profit gap is not a problem for you then go for it. Great choice for the hobbyist.

Anyway I don't believe and expect this gap will get thinner I see it will go thicker in future. Of course overall profits will get lower because of more mining machines.

PoW! PoW!

Tell me your success story with ASICs and I will tell you if you are a biased PR ASIC guy or just someone that has had a bit of luck receiving early his miner.

Much better profits is relative. If playing bingo investing 1 usd for you is much better profit, then we have a very different concept of easiness

One point many are overlooking is the part of Capital Growth.  A quick turn around vis BTC & move on is ok.  But some coins actually have a good story & long term possibilities.  How many would regard the quick use of BTC & cashing out at $2.00 per coin?  If a coin looks solid & with a good future, think about hold for a while.  Capital Growth makes up for a lot of electricity spent generating a good coin or token.

The mining business must be taken as an investment. By the same way as investing in other asset classes.

Good compare is the traditional stock returns which are yielding (in long term) something about 9% p.a. In mining you can reach that number easily and much more.

But do not except to receive 100% in a month. With a bit luck and for a short period of time it has been possible but annually the numbers are much much lower. This year has been a bit over 200% ROI / 100% profit p.a. (not month). I expect will end the year quite close to this number.

GPU/ASIC gap stays the same or widen a bit.

edit: Numbers

Well said.  Also not all SHA256 coins are going to make successful investments.  X11, X13 so forth & so on also have coins & tokens which a good for holding & some will disappear. Research on coins & tokens is no different from any other investment. Many cannot be mined, but still make good investments.

Just IMHOs and life.

Peace.

Well that's not assuming worst case scenario. Its assuming the market will hold up for at least X months. ASCI probably pull ahead if the mining conditions remain steady for 8 months. If that's guaranteed, I'll go with ASCI too, but it's not.

I assume worst case scenarios for risk management, which is everything crashing tomorrow. To me $10K of ASCI is as risky as $30K of GPU rigs. And $30k of GPU rigs make more than $10K of ASCI, hence the main reason I choose GPUs. I'm also limited by my risk profile, not capital which is another factor. Just my opinion.


There's definitely valid arguments for choosing ASCI and diversifying between ASCI and GPU.

Has anyone given serious consideration what he'll be mining after Ethereum is no longer viable? Switch to Monero, ZCash?

I think you can only answer that question when the time comes. While Monero and Zcash are two currently viable alternatives, it is hard to say if that will still be the case when Ethereum is no longer viable to mine. In any event, a lot of Ethereum's hashpower will be looking for somewhere to go.

Besides it's still not 100% certain that Ethereum will go full PoS at all.

In order for GPU mining to be profitable for a long run it is needed that programs like Nicehash add a lot of new algorithms and new coins to mine to their software so the user have a lot of choices and not being restricted to , 4 major coins like ,ETH, XMR, ZEC and LBRY as these are the major coins Nicehash offers so far. If that happens soon all we miners would be very happy as profitability mining the 4 major coins in Nicehash has fallen down considerably but I am waiting for many persons to give up as they will sooner or later and the profitability to go up again.