Bitcoin Forum

It was a fun ride while it lasted but it looks like the glorious days of GPU mining will be coming to an end.  With asics flooding every market,  forks that are nothing but a publicity stunt, little guys trying to compete with huge farms with dirt cheap electricity.  Many projects moving to proof of stake and masternodes instead of the proof of work.

https://i.imgur.com/Z3KawzL.jpg?1

Dude, check out the market. A bloodbath is going on and you wonder why you dont make enough money with your GPU. Sure there a lot of ASICs going on but GPUs are still profitable.  FPGAs will be the new generation of good mining.
A GTX1080Ti is still in this bloodbath profitable, not much but its a profit.
Btw, if you say rip GPU mining im sure you want to sell your gpus? I would take some :)

I dunno I'm mining Loki with my RX 580 rig and it's pretty cool, dawg 8)

No, GPU mining will endure but some things need to change or adapt.  Okay, but let me give one simple reason GPU (and CPU) mining will never die: Ubiquity.  GPU/CPUs are everywhere.  As long as gamers can get passive income from there free electricity dorm rooms (and that's just one use case) then mining will carry on for GPU/CPU dudes.

Now about changing and adapting... GPUs are FAR behind right now and FALLING further behind every day.  I have no doubt that the next "secret" miner such as what happened with Monero is already leeching profits... or more likely dominating profits in scalable comparison to GPU miners.  And... I think the ever growing culprit is FPGA.  I can't tell you how much it annoys me to be mining on a coin and making 'okay' profit  --at least double electricity costs-- but then to look at the bigger picture and truly understand that the amount of network hash for the coin I am mining couldn't possibly be coming purely from GPUs and that this bulk of network hash is destroying decentralization and thus rewarding FPGA/ASIC owners.  Many algorithms right now (mostly looking at YOU Lyra2z) are being hit hard by FPGA and possibly ASIC companies "testing" new miners.   GPU/CPU friendly coin projects need to do more.

It is a BIG problem and in my opinion coin developers need to be more aggressive in the demand for ASIC/FPGA resistance.  This can be done by either modulating existing tech to include their own blockchain/coin as well as seeking out algorithm developers to be truly unique for their iteration of blockchain/coin.  Raven coin was a good example of such appropriate action taken by a coin developer.  But we are not and never have been in a one-and-done environment.  This field demands agility and readiness to change to maintain fundamental ideals that got this whole thing started in the first place.

ASICS/FPGA will live on.  So will GPU/CPU.  But which projects will be better?  Ultimately it will simply be the coins that are used and have value which means it just comes down to people behind the coins making business deals and driving further integration.  It won't matter if it is GPU/CPU/ASIC/FPGA or whatever comes next.  But there is a war being waged and it is a war that will be waged until there is a winner.  It could take years before there is a clear winner.  But when it happens we will look at various coins and identify them by what mined them.  Bitcoin is an ASIC coin.  Litecoin, also ASIC coin.  Monero with it's algo agility should likely end up as a GPU coin.  Maybe there will be some clear CPU coins.  Pure FPGA coins could also emerge through some distinct capability.  You can already see this separation on sites like whattomine-dot-com where they have a separate tab for GPU and ASIC minable coins.

So that's sort of where I see this going in the next few years.  It really is fascinating to watch the war unfold in front of our eyes.  Watch and see what happens with various coin values as various coin project leads implement their strategy of algo forks or adoption into ASIC.

Mining sucks for everyone,  Even asics.

Asics have it worst if your electricity rate is above 10 cents.

It's been red in the markets for some time now, gpus are still profitable, hey at least you're not mining DASH ;D Also how much do you pay for electricity, I find it hard to belive you can't make profit on 0.1c/kw.

How can we adapt to FPGA/ASICS if you can't buy them? Please don't tell me about the two dudes selling some fpga boards on another thread, don't make me laugh, those are 2 people(if legit) and god knows how big the FPGA-iceberg is.

Also on lyra2z you have 6x-polaris rigs doing 18Mhs.

Very well said. I believe a key point in your statements would be the fact that "Ultimately it will simply be the coins that are used and have value which means it just comes down to people behind the coins making business deals and driving further integration."

Without integration with the real world the coins will be completely useless, a means to pay other people in exchange for nothing. While coins like Ravencoin are technically sound, the problem of integration and finding real utility with it is a problem. Until developers drive a coin forward with well balanced business plan, we will soon have nothing to mine.

Left out ominous music.

FUDD

Fear Uncertainty Doubt Doooooom.

Save Doom for last.

We see in short amount of months.


Why no coin algos current can change at run-time?  ASICs no work - FPGAs should but take more programming.     

Small scale GPU miners are the most affected here specially for those who live or mining in a country with high electricity cost

Medium scale GPU miners are next to be affected if this bloodbath does not stop.

Many block-chain will become POS or Masternode. At the end, Bitcoin will become the only mineable crypto.

Is there more than one masternode/pos coin in the top 50?  Dash is the only one I think.  Yes someday Ethereum will go POS but you already knew that when you got in the game.  The only coins going POS/Masternodes are complete shitcoins.

Exactly this.  The people complaining about GPU mining dying seem to think that ASIC owners are making money hand over fist!  I think the S9 is pulling in about $5 a day before electricity!  As for FPGAs, those are $3000 each, I'm sure the people mining on those have their cheeks stretched just as far right now.  Only people making real money are the market manipulators.  I'm considering selling all of my equipment and putting it into Bitcoin right now.  I have no doubt in my mind that it will be over $10k by the time nvidia comes out with the new cards.  Then I can cash out, rinse and repeat.

For a small scale with very low electricity rates, it wont die

look around, sprouting pow coins everywhere

it has been foretold, but unprecedented turn of events happen

as always in Crypto world

I have 2 problems with your 2 statements.

First, small scale GPU miners could easily survive as long as they build rigs geared towards efficiency. Large farms need to pay overhead for warehouse fee, taxes, maintenance, and all that while a simple GPU home miner can maintain his rigs thru teamviewer, all for free.

It is hard to imagine that bitcoin will be the only mineable crypto, or even the last mineable crypto. There is no basis for your claim while on the other hand mining bitcoin is already less profitable comparing the most efficient bitcoin miner with the most efficient altcoin miner (regardless whether GPU, ASIC, FPGA).

If I got 10$ for every time GPU mining was declared dead I would be rich only based on that.

The field is ever changing, but GPU mining is going nowhere. For at least 2-3 years its going to be present and profitable for sure. Everything else being told id pure FUD.

Listern to the expert HAHAHAHAHAAAHAHAHAHAHAHAAHAHAHHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! sorry i mean jester

Yea we should listen to the idiot who buys ASICs to lose money with them while making Bitmain rich. Can't get any dumber then that. Before I listen to you about anything let me know so I can lobotomize myself with a rock first. Then maybe.

Btw you are a sad excuse for a human if you had to stalk me around. That means I really pushed the right buttons :). A friendly advice. Stop making a fool out of yourself.

This is just the same what happened in the past years ago they said that mining is dead, but after few months the mining profitability increase x3 and I think it also depends on your ways how you make a profit with the mined coins you must know when you should sell them all. To me, I collected all mined coins and save and withdraw some for an electricity bill, unlike other miners they sold all of their mined coins that is why they are not making any profit. So if you are miner you must know when you sell all of your mined coins so that you can make a good profit.

Well, at least it's been more than 48 hours since the last thread on this.

Maybe mining is doomed, like the human condition itself, but I ain't switching off yet. If you want to, please do, drop the difficulty a little.

I've been around since 2013 and this is not the first time that mining became unprofitable.

What happened last year was different because it was just a pullback on ETH while GPU hashrate kept increasing.

What is happening this year is very similiar to beginning of 2014.

Basically BTC price is tanking... price of the mineable alt is tanking even faster ... there are ASICs in the wild.

I remember a R9 280X made like $10/per gpu/per day one month .... $5/per gpu/ per day the month after ... $2.50 ... $ 1 ... $0.50 ... $0.25

So basically in 6 months it went from $10 per day to $0.25/day. Most ended up just Craiglisting the GPUs or just eBaying them.

Really? Personal threats via PM?


Thank you for confirming you are really not worthy of attention. Btw you have been reported to forum admins, because personal threats are something I don't tolerate ;)
For everyone else, you can actually see the level on which this guy operates. Sad world.

I got what I need from you bro,, ,see you soon :)

Every time when new ASICs for popular GPU algorithms come on to the markets - new ASIC resistant algos appear.
So I think GPU mining will die only if crypto will die...

I'd say the aim for the small GPU miner should be agility. Be able to adjust configs and swap algos to quickly adapt to new opportunities.

Leave efficiency to the giant farms that worry about their 0.001%.

read post of 2013-2015 years. same whining about gpu death, asics everywhere, no profit.

yeah, the mining rig will die.

but I still mine using a mining rig although a little bit profitable, most importantly still be able to pay for electricity costs and save a bit of money to buy new GPU again  ::).

I hope it isnt. And will not in near future.

I invested too much money, time and nerves in GPU mining in 2017-18, so i dont want even think about it..

Honestly i will be happy just to return my investments. Not talking about some profit.

don't panic with this current situations, already 2,5 year I do in mining and every month or year always there is have been surprising such as fork of the coin, issue a new hardware or price of the coin.

That is not true as GPU mining is still viable the only problem ia that the prices of minable coins and tokens is very low and with the ever rising difficulty and high electricity depending on your country its really hard to make profits or get back their ROI for some miners. Still mining is is still profitable and will be profitable specially with crypto prices monns.

yes, it's a problem that makes GPU miners rocking, some are selling GPUs and some miners turn off their GPUs but also some miners still mining because of electricity cost still friendly.

ASICs become obsolete after a period of time.
GPUs can be always sold for the same, or even higher price than you paid, while ASICs can be thrown to the garbage.

PoS/MNs change much, because they can't compete with PoW.
ROI is much faster with hashing.

As of this time that the crypto market is on bearish trend and again we might say that GPU mining is dead for the profitability is not worth anymore this FUD thing always come when we see bloodbath in the market but to tell GPU mining is more flexible and profitable than paper weight ASIC. So let's wait again for the next profitability level.

I agree. The patience is key here.

still mining using my GPUS! (still profitable) Just pay your bill, mine and HOLD!

I think not will die mining with gpu, because to day a lot of coins's algorithm will resist asic mining. And also to day and more days the demand for gpu and gpu's miner increases. That's where I will stay in gpu.

There was a ETH dev meeting and apparently they are combining sharding and casper with the next hard fork update.

From what I understood there was no timeline given but given that Casper is already live on the testnet, it shouldn't be too far off.

Now given that most of the mining revenue is from ETH alone, if this goes to POS and the block reward is reduced again to like 0.6ETH, then we got a problem and most likely then GPU mining will come to an end.

ETH is not the only coin around, why assuming this ?

The next coin will be so pumped, like ETH was.

Just need to wait and see which is that coin.

eth devs want to only pay pos holders and will be like you said very low 0.6 eth per block and probably as eth price rises, eth pos will be lower and lower, eth will end up paying 0.1 eth per block in future and that is it, soon will be an eth rush, expect 600% eth price rise in days.

As eth goes pos, will be a sign that gpu mining might be on a long break.

I am new in mining which GPU Miner would be the best for mining...
And Plz also tell which coin will be beneficial in Mining ???

You can check here: https://www.coincalculators.io/

Well, it can be seen that if not completely the end, then everyone is sadder and sadder, the asics completely squeezed out the cards from the market (

Do you have any data to confirm this trend?

It will be interesting to see how more coins handle ASICs,

but I think there will always be usage and profit for GPUs,
there are a lot of cryptocurrencies and a lot of experimentation,
and GPUs can switch algorithms anytime

Forks arent necessarily a bad thing, new experiments get to happen

I think that there will always be coins that can be mined with the help of GPU. Maybe your coins are protected from asics will created by the manufacturers of the GPU in order not to lose the market. Now I do not see any profitability from mining using asics. The complexity of the network is growing faster than you can get your money back.

Its not the only coin around but its the highest paid miner revenue coin out at the time.

Basically you can take 50 shitcoins to mine and the combined miner revenue won't even equal ETH mining revenue.

Go to https://bitinfocharts.com/ethereum/

Look at the Reward (last 24h) and its currently over $10,000,000 per day.


Look at another coin like Bitcoin Gold

https://bitinfocharts.com/bitcoin%20gold/

Its miner reward is only like $60K.


When ETH goes POS or Hybrid POS or reduce the block reward to 0.6 ETH, then you can safety save that GPU mining is 100% dead.

Soon we can connect our GPUs to SONM and have better earning than only mining.

It's supposed to be more profitable than pure crypto mining because they can offer real world computation tasks which are higher paid!
They include a marketplace for rendering and other heavy duty calculation for GPUs. Supposedly your machine will automatically receive the most profitable task available at any given point of time. While there are no special tasks available, the system switches automatically back to crypto mining  :)

Very excited to test it out.

It is no secret that Gpu mining is almost coming to an end and the first people to feel this are home miners or small scale miners. For this there is a solution however, and is fighting the ASICS back.

I really like what the Monero developers did once they saw how many ASICS entered the market claiming 220 kh or more with very low electricity consumption, the developers of Monero immediately changed their algorithm to Cryptonight V7 in order to fight back against ASICS as they don't like centralisation so they are the example to be followed by other coin developers who still believe in decentralisation.

Gpu mining won't end now or very soon ,many coins still selects GPU mining over asics and they make the coons asics resistance

who knows, maybe new algorithm will born...

I think ASIC is the main enemy of GPU miner, ASIC Killing GPU Mining, plus, It's will kill Cryptocurrency Coin ... Because of the Centralisation ...

So easy to buy ASIC, and put it in a container, just branch, put the server, your wallet, and go ....

Even non technician guys can make it...

ASIC = BitMain = Bad guys.

We must fight ASIC, because this is killing the WHOLE cryptomarket... Simple as 123...

If you can't make money mining. then only big money people can make money, then the public will stop mining, and will stop enter cryptocurrency world.

Lot of people know the cryptocurrency by the mining.

Cryptocurrency being centralized by ASIC. Where banks just have to spend millions to control some lesser coin, then the fact is if Bitmain created a backdoor in each of these ASIC, they may be control the whole world market, just in taking 10 minutes of each ASIC Miner, to gain a 51% currency control, and modify the blockchain as they want, to make millions maybe billards of $ every days...

Guys this is a VERY big secutity issue. Game have to change. Asic have to quit the cryptocurrency market, for the security of coins...