Bitcoin Forum

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

How can your rig only consume 750W?
Each card has TDP of 120W which could reach up to 180W of power in real usage.
Also the processor, motherboard, Drives and peripherals consumes power, even with 120W the whole rig would consume more than 750W.

You might be losing more than you think, how much is your electricity cost?

"Free Electricity" Dudes.
Huge Mining farms with low-cost Electricity or additional alternative sources (Ex. Solar).

Its still not profitable or barely profitable in many places around the world.

The only people who find it profitable at the moment are the ones with 10 cent power, which is fairly common in many places but in many other places like Hawaii its still not profitable.

Right now putting the number into What-to-mine you would need basically power to be less than 20 cents per kilo-watt hour to make break-even, based on a RX 470 4GB GPU which is fairly common.

I guess some can mine now and sell in the future if ETH ends up doubling in value.

I have quite of few of them and each of it consumes 80-85W mining ETH only at 24-25 MH/s.
A rig of six cards as such with other things considered will consume around 600-650 W from the wall. So, I guess that's fine.

Not profitable might be in two parts, do you mean what you have left after converting ETH to USD left you with zero profits or you did not mine any impressive amount of ETH ?
The first is as a result of power bills while the second is as a result of ETH high difficulty.

Mining ETH has not been profitable for most regular miners for a long time now, that is not something that has come up recently sadly. Then again if Bitcoin keeps rising and drags the value of ETH up with it, mining ETH can become profitable in the future.

150 Mhs gets you roughly 3 USD per day, electricity cost = 0,1 USD/kwh , 0,75 ( 750 watt ) x 24 x 0,1 = 1,8 USD electricity  cost , 3-1,8= 1,2 USD profit. Is it sensible to build a mining rig with this conditions? Maybe with second hand parts, definetaly not with brand new equipment. Is it sensible to continiue mining with your existing rig? Yes

Not everywhere the electric cost is 0.1$ per kWh. Maybe OP is living somewhere where the cost is 0.15$ per kWh.

It looks like mining is not profitable right now but if ETH price can catch ATH value, today's mining value will be profitable again. So, this is why people still continuous on mining.

If that happened people would be much off just buying Ethereum instead of putting money into their mining operation.

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation.  I personally would like to call this mining-as-an-investment strategy.  :)

ETH has been unprofitable for the past 14 months. I only consider profitable if roi is less than 200 days which is not the case at moment.

Why not profitable? Very profitable.
See, 150 mh is $3.23 per day.
Take the price of electricity 6 cents, 0.75*24=18, 18 *0.06 = $1.08
3.23-1.08=$2.15 per day, *30 day= $64.5 per mouth.
And if the part is only sold, and the rest is sold at a higher price, then it will turn out well.

Why 6 cents? The price of electricity is different everywhere, for example, in my country in my region the cost is about 9 cents. There are regions where the cost is higher.

when it comes to profitability of mining on any altcoin / btc it  is still the same. Profitability depends on your electricy costs. you pay 0.1$ just imagine there are people paying 3 cent or less for 1 kWh. this is the reason why miners are still in game. there are also miners who speculate on higher prices in the future...

If you don’t have to pay for electricity, it’s profitable) And if you consider that ETH continues to grow, then I think that you can make money on small farms. Yes, in general, small farms do not really survive today. So many problems from 60-100 $.

It is true if you don't have a rig, I can not suggest
 buying mining parts atm. But if you have a rig already and you keep the mined coins, you can sell them for 6x profit

my mining farm is very far down in yield Ethereum. well that free electricity, it would long ago have gone into minus mining at this

its worth nowadays?

Serious miners are paying nowhere near that, they are closet to 1-2 cent range.  Anyone that is paying around 10 cents should just pack it up and do something else besides mining.

I saw this coming a while ago. Rewind 2 years and mining Ethereum was profitable. Then it got to a point when it gave you no profits. Now it will give most of the small time miners a loss, but they hope it will give them a profit later on if ETH skyrockets in value.

That is why you trolls fail to understand, profitability wise worldwide is when it matters because it causes very high supply and demand of profit to everybody. So as long as you trolls say it depends on electricity to be profitable that is when you trolls lose focus on the market as a whole. The market must be decentralized and electricity price should never be counted towards profitability. In 2017 when it was profitable, nobody was saying their electricity price around or bragging their earnings was higher than the other, everybody was winning and that meant the market was profitable. You trolls must understand how things work beyond your trollish brains.

I'm not sure about that, remember the next halving has already planned and it will get another halving as soon as possible as per FFG whitepaper. For the last blockreward for the miner will be around 0.5 eth and there are some miners (BIG) only that will mine ethereum. OP may get a big cost on its electricity that makes it doesn't profitable anymore. 

This is what I figured it would cost.
But if he is spending a higher amount in electricity then it is certainly not worth it even if ethereum price doubled in price to it's all time high.
Some places even charge a different rate at night time so all these factors are involved to even have a mining rig running to turn a profit.

I guess all our assumptions will be realized once ETH get passed its ATH provided the bull crypto cycle continues. As for me, I personally believe that ETH mining would be productive and fruitful in the long term considering the merits that the coin possesses.

With current hardware without buying new video cards, I would also recommend Banano browser mining.
https://bananominer.com/

I wonder will there be a difference when Ethereum protocol is changed? I mean, I have no sufficient knowledge but Ethereum will be a PoS if I'm not mistaken.

i guess most of ethereum's miner are has their profit when the market rise and reach the new all time high ETH price, and now they put their patience again to return back their profit from mining after the bear market ends. Its just like investing your money on the other way...you can double or even triple your profit when the trend shows green again.

Yes, it is impossible for the people who are mining the ETH for short term which they will not make high profits with the current value of ETH. So we should wait until the price of ETH should cross more than 500$ and we should wait and see how far the price of ETH is going to be in the coming days.

I was just wondering why there are so many threads like this that purportedly discourage mining on a particular coin especially with ETH on the basis of profitablity  when in fact it has a decent hash power which only means that more miners are mining on the network. I hope some of those threads was not meant to discourage or eliminate competition, rather we must encourage everyone to mine on a particular network to make it more stronger thus safeguarding all our interest in it. Imho.

Ethereum price has grown well lately. I think that this should motivate the miners to continue working. I think that now is a bad time to quit mining.

A project where, apart from a small number of enthusiasts, there is nothing. Or in one word shitty coin as many here previously wrote.

Though mining the new coins is much profitable than those popular coins like BTC and ETH since those coins are usually mined by experts. You can maximize your gains if your electricity consumption is low.

Every day big miners add more cards to their companies, it's not small miners adding hashpower

All of the mining token are profitable all you have to do is to mind what power or what hash you will need to get a big profit and also be smart of what token that you will choose to mine,coz if not you are wasting your time for small profit.

That's right, I stopped mining ethereum several months ago, because when the price collapsed below $100 I realized that at those levels there was more profit potential buying ethers than mining. Fortunately this was a good decision because now that the price of ether multiplied x3 I was able to obtain the profits that mining was no longer giving me.

Smart Decision Pagri. Maybe you'll get back into Mining when the price of Ethereum reaches more than $1,000 USD. Right now the price is lying low and mining will only profit in small portions. And from what I think, whenever mining no longer gives profit with its current price, Im pretty sure the price will go higher to make those miners continue mining.

Exactly, eth reached $1400 at all time high price, mining might not be much profitable at the moment but looking at future price its surely is profitable.

I think it also has to do with the total hashrate.

For example I mined 0,05 Ethereum 1 year ago with the Rx480 and it took me longer then a month.
Because The Total hashrate was a lot higher a year ago, so it could be possible now that miners are receiving more ethereum.

https://i.imgur.com/XW7UCxm.png

But I do think people do it because they actually believe in Ethereum and they wont just quit after one period where the market goes down.

Hashrate is not only the main factor because you have been forgetting to mention the impact caused by the block decrease. Did you know that if this will be giving a huge impact on the result on how much ethereum that will get by the miners even if the hashrate gets less than a year ago? you can't get it because it has been getting a halving that reduces ethereum block reward from 3 to the 2 per block. Hashrate power is not the only thing that affects ethereum supply and rewards to the miners.

That's true I actually didn't know Ethereum halved their block rewards in januari this year, I just looked it up, and yes that makes a huge difference.
So the only people who are mining this are people with super low electricity costs or people who think Ethereum is going to reach a better price again.
Personally I definitely think Ethereum is undervalued at the moment especially with the rewards that halved but that's just my opinion.

Rigs maybe will expensive again if ETH can be pumped. Because other people think mining activity will be profitable again. If i be seller, maybe i will tell the truth about mining and what risk behind it.

If you believe in the growth of Ethereum, then mining, even if it is currently unprofitable, can bring profit later. It is like an investment that does not guarantee a profit, but it can be in the future. In addition, the reward for the Ethereum mined block also decreased.  In this case, if you want mining to be profitable, you may need to choose another coin.

When eth hit $1400, block reward was 5 eth, now as the block reward was reduced to 2 eth, if you think about, eth can reach 60% more than $1400 if bitcoin reaches 20k again, so $1400 + $840 = $2240 but I do believe eth can reach higher than this, if btc hits $20k again then eth will be around $3k by that time, 10 times higher than now.

I cant understand how you decided that there is no profit. Even ETH shows me x4 from electricity bill. Ok, i have cheap electricity, but even $0.2 is still profitable. Of course if you are not buying new GPUs right now.

If mining eth was bringing no profit, some miners would stop working and dropping difficulty would bring some profit.

Because people were earning much from mining now with the lower profit they are not happy with it. But it is a free market, when you think i won't do this if my hourly profit drops below 1$ newcomers are ok with 0.25$ (amounts are just an example) so profits are getting lower. Maybe next year people would be ok 0.10$ is enough and it will drop to that point. But no-one mines if there is no profit.

I talked about this many times, the first reason is to keep the blockchain going in order to protect their long term investment, no miners no blocks, few miners then security issues, there are many reasons people mine at loss and they know it. Now if you mine and have no reason whatsoever, if you mine to profit now then stop and rethink your troll mind, right now is better to buy than to mine, last 7 months was a very good opportunity to buy coins, right now still a good opportunity to buy before coins rise to a point that will make you regret, i guess this little rise, made many bears and shorters to commit suicide. In a bull market, coins rise a lot then dip a little and there is a loop all over again, coins rise more dip a little and so on, bear market is the inverse, coins crash a lot, rise a bit and then crash a lot more. So make your decision now before is too late.

Eth has forked to new block reward, lowered from 3 eth per block to 2 eth per block. But, network Hashrate / difficulty is same as before. Thats why you have "no profitability".

I recommend to you mining another algorithm for nvidia gpu, maybe Cucko Cycle is best at the moment, or try x16r

Not profitable yet, ETH is a very good coin and will upgrade their protocol into ETH 2.0 later on this/next year. You also can stake your mined coin later, I know many miner see short term but on ETH you must also see long term because this coin is not gonna scam like another shitcoin.

Unfortunately, your calculations may be incorrect. Bitcoin is growing at the expense of altcoins. Ethereum does not follow BTC as we would like. There are many tokens (including scam) that take off money from ether, thus ETH ATH should not be expected anytime soon.
So, if mining, then you need to achieve maximum efficiency now. The threshold of 10 c still allows mining to continue in some countries.

I dont know your setup but my rig does 750 Mh/s for 2400w (24*1070ti) (this is with mothboard and fans included)

That's a terrible advice... If you believe in the growth of eth, then buying with the electricity cost is smarter than mining.

Let say you have crytocoin X  at price $15 that cost you $20 to mine 1 Xcoin, you can spend those $20 to buy 1.33 Xcoin. This is 33% better than mining.

I think this is the only project that attracts miners to do something useful.
Unlike Bitcoin and ETH miners, who simply uselessly burn electricity.

Can't make a statement like that. If you don't pay for electricity then it's almost always profitable, right?

I think Eth has room to run, but not like it did in Jan 2018.  Shitcoin ICO mania isnt going to pump it like that again.

My calculation is not based on ico's, if you think that is why eth rose in 2017 then you must revise your calculation, my calculation is based on supply and demand day by day and possible scarcity of eth when a determined price is hit too fast. ETH long term holders comprise of around 70% x 20% of bitcoin. Like I said before, there is a possibility eth will be 0.3 btc in few months and possibly hit 0.6 btc in few years as eth holds 99% of dapps projects and alike and that is where the world is going.

Maybe you are right.
Although it should be borne in mind that many of these dapps don't yet have enough users and they will not, because the projects that created it will die. Will new dapps be created to replace the dead? Will it be on the ether blockchain? In addition, scam activity has a great press on ethereum.
It is hard to believe in 0.3 BTC even for a year.

Someone is paying for the electricity. If it's not you, then it's someone else. Electricity has never been free of charge. Another thing to keep in mind is the value loss of your hardware when you mine away doing it's wear and tare.

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

5-6 months? The way I see things it was only 2 months, 10 november to 10 january, 2 months exactly. This time, this same thing might happen when bitcoin hits 100k - 200k, a mass selloff hehe and price back to $50k - $80k or so. There will always be peaks and that is a good thing.

Nah! There are a ton of teenagers living at home with their mom and dad, mining away, their parents paying for that mining electricity. Those parents would be better off just giving their children some (more) money and NOT mine ETH at a loss.

If Uptrend still running. You can imagine a great future with it. Not at all miner use standalone system. They use more than one system like you.

You also forget about those who use electricity almost for free or for free at all.
I dont know how things are with this in other countries, but in Russia electricity is being stolen.
In the free market there are electricity meters that are turned off / on with a remote control, various kinds of magnets, and so on.
I have few acquaintances involved in mining, but none of them pay for electricity... They will mine until it's possible to mine

Based on the latest valuations (ETH @ $272) and whattomine.com, mining is again (but temporarily) profitable.

Mining with an old 1060 at $0.1 electricity cost will net you $0.3 per day, or around $9 a month. Should you invest in new mining equipment? Probably not.
At those rates you're still looking at around 16 months ROI and a lot can happen. Like they say "just buy the coin" if you want to speculate and invest.

ya im mining/collecting ETH just for PoS one day
it will likely be like DASH, a great long term passive income
IF you can drum up the coins to "deposit", midas
better then selling daily, thats just sad, like 5 cents an RX a day haha

I know what you mean. Mining would have to become more profitable for me to turn my gpu's on again. Right now it's not worth it with the heat and the noise. If ETH were to double I might get in again.

Even for those numbers netting $0.30 a day in profit is not really appealing for those who still mine. :-[
If it were over $0.60 per day for every card and taking out the electricity costs along with it then I can see people getting into mining again.
Cause electricity companys are raising rates for those who use up alot of electricity compared to others in the same area.

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

i think after ETH hit $215 mining will profit.
but before that i think final result same as monthly cost.
or people do it that for hold ETH long term. (if ETH price increase, they will sell it).

The machine themselves are usually purchased used and have no value to the miner after they have used them for months if not years and consider them throw away items. The cpu are lower processing power ones just enough to get the rig up and not needed to process anything further once it is running. The motherboards are usually cheap to find and getting one for less then $40 isnt very much and resale of it will be lower if not half. The only thing of considerable value aside from the gpu themselves are the power supplies. Because they cost over $100 for a good brand name one and they dont deteriorate as fast compared to the other parts on the mining rig.

I used to mine, I know how it works
Motherboards are not 40USD only, it's better to buy a mb with support to 6 GPUs or more, to have more energetic eficiency, if you buy random stuff you will waste electricity and will costs more in a longterm

If you are a miner with only 2 or 4 GPUs, ok, but if you have 20 or more, it's better to think before buy garbage

competition in mining ETH has of course been very tight for now. I don't feel that new people in the mining world can compete with that. but, when eth prices rise, I think it's still quite profitable to mine ETH. however, it all depends on the quality, and the amount of GPU you have.

The rise is still uncertain whatsoever, also GPU's quality usually doesn't differ, it's the fabrication of a GPU that could bring more efficiency without giving away the power.
In the case of ETH mining that'd be a lot more profitable, even better than using it for gaming purpose, I still hope that in the future there will be a GPU that could make mining profitable again.

It's not really for people that need to sell straight away to pay for their electricity bill, more for speculators that know that mining now and hodling will generate huge rewards in future.

This is trading/investment. Not everyone can trade good enough. And in mining, even if you sell mined coins right when got - you get profit. And you have an equipment that costs smth. In investment you can loose it all.

The mining sector is among the most difficult ones out there in the markets, because it evolves much faster than the others, and moreover the actors in the game are often dishonest (I'm talking about card producers and asics); so there are so many variables to consider and often your reasoning and estimates are disregarded because even one of these variables is missing.

However, I always say that if you pay the current over 0.1 $ / Kw you are crazy; 0.06 / 0.1 you are unprejudiced; under 0.06 you are an investor, but you must always be alert!

But for me that guy was true and what? depreciation of your hardware looks the same with the risk that will you get when you try to deal with trade or investment. I can say mining is the same as you are investing your money to get something that can give you monthly return and then you will get depreciation on your mining rig as the risk that you must deal when you investing your money to buy mining rig to mine crypto.

People who mined ETH coin when the price of ETH was 90$, are now in making some decent profit with the increase in the price of the ETH. So we should mine the coin when the market is in a downtrend which will help us to make a decent profit when they start increasing.

For last 3 years i changed 4 fans for GPU and made 1 selfmade cooling system. My rigs are between 1060 and 1080ti. Nowadays i can sell them at 75% from their purchase price. This is always, what you need to know about depreciation.
So, even if i`d got nothing - i lost 25% of my money. Looks like the same risk with loosing everything?
Yes, you can trade/invest. But if you`ve read post that i quoted - my answer was why someone is mining.

I don't know why, my opinion they are still mining is only 2 reasons.
1. Mining ETH and holding. They hope eth will rise maybe 2x or 3x in next month and sell it for profits.
2. They are still mining because electricity free

If someone have electricity for 6 cents for example, and a big farm, it's very profitable

ETH havs high difficulty but i think it's profitable, i heard people doing really great with that. on the other hand,
i read the comments below and see sense in it was well.
but we may assume that your mining is profitable when your electricity costs not as much as a new iPhone.
people will continue with ETH no matter what, just the ways of doing it will be mutating more and more ;)

For who still mine ETH maybe in their place cost of mining is not big, or maybe really cheap. Or maybe who still believe ETH will be rocketing like bitcoin price in future. Well, each people have their own reason for sure.

About which country you are talking about because in my country the electricity is not free for me, mining ETH is a very good advantage because in future the price of ETH will surely increase in the market. I think now they are getting lower rewards for ETH mining.

Some people mine for other reasons than direct profit.

Plus I already have a mining rig and cards, so why not put them to work?

And I'm bullish on ethereum, so of course I'll keep mining.

Ok. Lets look at WTM.
RX480: 1. electricity cost $0.2, profit about 0; 2. electricity cost $0.15, profit about $0.2 per 1 GPU; 3. electricity cost $0.1, profit about $0.35 per 1 GPU; electricity cost $0.06, profit about $0.5.
All that cries - all of you have electricity about $0.2? Or you want to get $10 per GPU and ROI 10 days? Compare profit with profit that you can get in real world.

Hi,

I live in Lithuania :) so mining last two years with no stop, even if profit was 20cents per day.

So i have 3 rigs

1 is 6x1060 6 gb - which makes 145mh/540w
2 is 6xrx580 8gb makes 186mh/800w
3 is 7rx580 8gb makes 214mh/1000w

so i'm getting ~545mh @ 2450w ~~

So it's revenue of 353usd/month with 172usd profit after electricify

electricify cost for me is 0.1025usd/kWh.
last year it was 0.9usd/kwh, this year it became more expensive.
So barely mined ETH/ETC with my RX rigs, GTX was on some other coins, just turned it to ETH when prices started to rise again.
ofc i will not ROI, because equipment was bought at high prices, but anyway it was good start. and i'm happy that i'm mining now, it's good hobby. also

Mining ethereum is profitable right now with an average energy price of 0.07 kilowatt/dollar as you make about 4 dollars daily or 120 dollars monthly and the energy price is about 60 dollars for a rig.Upscale this with many miners and with 20 mining rigs you make 1200 dollars net profit monthly.

Yeah, green energy maybe solar panel.
ETH is a good for mining, and ETC, RVN.
But, Don't be greedy and don't sell instantly. Just hold a moment and they are give more profits for you

Mining is still profitable especially for those who didn't pay for their electricity cost. I do not pay electricity but the thing is I have a very poor internet connection here in my location that's why I do not mine it for now.

How is it possible to not pay electricity?
Do you have free electricity in your country?

I'm very curious about that, a lot of people say about free electricity

Guessing from your post you might be living near a power plant, whether it sorts of renewable or unrenewable ones however majority of people are not in that situation though, there's an alternative indeed called solar panel but the efficiency is so so, also considering that there's requirement to get the highest electricity output from using this, it's just undeniable statement that mining ETH is currently not profitable.

I do not mine, honestly.
but, if I were engaged in this, then surely I would mine the ethereum.
Bitcoin, of course, cannot be mined now on video cards, but I think it is worth mining the second most capitalized coin.
Moreover, the price is now growing and in the near future, it seems to be worth very well. Furthermore, ether is the least volatile of all altcoins, and the most liquid.
It is already clear that the Ethereum is like Google in the world of cryptocurrencies.

He's definitely talking about after converting ETH-USD the bill spent left him zero or nothing for 2ETH are acquire per block this days. But, I will advice the OP is switch his mining equipment to better one and dual mine ETH with other reasonable altcoin.

Many people are still mining Eth because it is still very much profitable to them and I for example am still very much into mining my lovely Eth

it depends on what hardware you are using, but yes mining ethereum still easily pays for the electricity it uses.
I currently have 6x ATI RX480 mining ethereum. I do sometimes switch to ETC, EXP or UBQ depending on who tops the charts at whattomine.

I am not in the mining industry for a long time. Now I am thinking to buy two machines with 6x RX470. With electricity cost $0.09 kwh
whether it is better to aim 480 cards?
more I think about this as a hobby, so I don't want to spend too much money and to have a big ROI time

 ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D

Its not as profitable as it can be as there is now more than enough crowd so the profit has reduced and the electricity cost isn't helping at all so now the most people that still mines are the whales

And then can you tell me about how much your hashrate? Maybe this will be very useful for some people in this thread, mine ethereum in these days need a lot of resource and if you are small miners and then forget it. If you have said mine ethereum still much profitable for you and im feeling curious about how much your total hashrate power.

This is certainly true, the difficulty of the network is becoming very large, and again the funds needed to do this are also too much if you are just starting out.

I suggest any one who wants to go into mining should look for PoW project that are just starting out

Thats right. Mining Ethereum when it was new paid off handsomely if you held on to them. Mining Ethereum now not so much. The risk is quite high now considering it already has a very high market value.

I did not pay for electricity, so instead of the electrical energy being wasted I used it to mine. don't waste your money for something that doesn't get results.  ;D

If you buy a $4M Veyron and use it as a taxi even if you make enough money to pay for fuel and maintenance you're not "making a profit". The car is a depreciating asset. You need to earn enough money to outweigh depreciation of the car as well as operating expenses.

Same with video cards and ASIC miners. You can't just consider the cards as a sunk cost (unless you're gaming on 1 or 2 of them sometimes). You have to make enough to pay for electricity AND the depreciating value of your cards. Nobody wants those AMD 5870 that everybody was mining with back in 2011.

There is profit left in GPU mining, but nothing short of quick churning new shit coins is going to make you more than a $0.25 USD per card these days. If your card's value drops more than about $100 in the next year it might be better to sell the card and just buy the crypto outright.

There are simply too many people chasing the get rich quick dream. That mean noone of the small time miners that mine Ethereum and the ETH clones will ever make it rich. That train left the platform years ago.

I mean if you still used it to mine even without paying the electricity that still contradict with your staetement which you said "instead of the electrical energy being wasted"by mining you are still wasting energy right? whether or not you are making profit it just you who can decide it but the current situation is worst, Maybe it is time to switch to PoS instead to be honest, more efficient and not as energy consuming

Mining wasn't never a get rich quick kind of deal. There were a few short weeks where the profits were insane like $5/day/gpu but it only lasted a short while before the prices started to tank and difficuly started to rise.

The only miners that ever became rich were the ones which mined and didn't sell and held for > 1 year+.

Imagine the days of using the R9 280X to mine 1 ETH per day per GPU back in 2016, imagine holding all those ETH and selling them for $1000 each about 1.5 years later. If you mined and sold everyday you would of sold at a huge disappointed price compared to holding.

Yeah, I know what you mean. But I still come across miners stating that they will hold forever, thinking that Ethereum will be worth much much more in the future. That's just delusional on their part.

Most of them are the one who have cheaper or no electricity cost, they can afford to continue as they don't need to worry much, they can hold and wait for some time before selling it up and earned the rewards of mining this coin and hold for long term benefits.

So we are talking teenagers living with their parents, people who rent with electricity included in their rent, and finally people that leech off the grid stealing power in some 2 and 3'rd world countries.

of course it is profitable because most miners have problems with the electricity costs they incur each month. proof of stake is indeed better in terms of its capability but its role only stops being digitalized and cannot reach the electronic manufacturing industry that is special from proof of work.

The market has recovered slightly, but unfortunately for those who mine mining, the profit has not grown much.
Hashrate is almost at the maximum and after a recent change which made the team revenue fell.

Now the price of ETH is still very low which is a very good sign for the people who are mining ETH, it will give very fruitful profit when the market starts recovering. This year there are many predictions for the price of ETH easily cross its previous value.

Have you been living under a rock the last 5 months? The market did recover (a lot) since the bottom last year. Both Bitcoin and Ethereum have given solid profits in that time period. What happens in the next 6-12 months is anybodys guess.

More than solid! Bitcoin started this year at 3000, ethereum was under 100, simple math, in just 6 months you could make double profit and you can`t find better investment than that. What more this isn`t over, we will see higher prices, this grow can slow down, but it can`t be stopped.
Anyone know where to find more info about when will ethereum go POS, and generally more about that matter? I tried to search, but except some news I didn`t find any quality info about that.

Ethereum is almost 3x from the last dip. Will there be a difference for now for the miners?

People are looking at profits now and this is your biggest mistake.
In investing in mining and cryptocurrency, you must work on the edge of profitability. And due to rising prices, you will earn more than any of your other investments. Always look at the prospect.

A little bitcoin difference consider about when the price of ethereum has changed and the block reward already decreased more than 30% from 2017 block reward. the miner still needs ethereum to get aonther bull on its price because they got less reward. There will be no a lot of differences at all.

Even if mine and sell it gives profit. I dont know how they counting or how much electricity costs. or what means "profit" for them.
The best choice is - "Ok, no profit, shut down and sell your rigs, dont cry looser".

no need to be so cruel, especially to newbies.
I think for all this number of posts, he realized that his question was at least too facile.
As long as there is a large hashrate, then there is a profit of mining

Well it not everyone have cheap electricity, bills is still coming every month regardless. Not every miner can apply the investing approach because of that fact.

I think if the profit and loss problem is a common thing in mining, whatever the equipment is only a slight difference but maybe the problem is the problem when you mine the difference in price that is not far away when you buy and sell.
I mean if when buying at a price of $ 300-400 and when selling and you can be patient, wait for the price to rise, for example at the price of $ 800-1000 then you will assume another.

the current competition of miners is already very tight, and I think the profit generated is not so much compared to the electrical costs. however, only those who are smart enough to use electricity for free, and have the best GPU rig that might profit in this regard. right now, I am more interested in mining other altcoins besides eth.

I see many people crying in this thread. Not all of them are newbies. Their silly crying angry me. I cant understand why people wants only freebie? Why they dont want to work and think? This is not so awful as someone says, i tries it really.

But in fact the goal should be just that; I don't understand why almost all users who approach mining look only at Bitcoin or Ethereum, which have a super competitive market, when there are hundreds of other coins to bet on and invest.

If you want to undermine Bitcoin or Ethereum and you have to buy rig or asic for $ 2-3-5000, you would first buy the same coins in the exchange and keep them in your wallet; you would earn faster, without risk and without worries.

Those other coins and tokens beside Bitcoin and Ethereum are not as liquid as the two giants cryptoes. They are traded at every exchange and you can buy and sell immediately. Cant really say that about every other shitcoin with little to no volume.

well, there are MANY other projects with enough liquidity that you can mine and dump right away if you want, at least 100-300 out of BTC/ETH with good enough liquidity.
even better if you understand a bit of market cycles...

you don't HAVE TO PAY for electricity then you're getting profitable right?

And you have to go to jail after the police already discovered your activity. if you have been stealing electricity to mine crypto like most of the cases that happened in china. Even you don't pay your electricity doesn't mean if you will be always on the profit. I just think when you got a big wave of new miners.

The whole essence of mining is now buried in the price of electricity. Think about it, because all the equipment is the same, the main difference in the price of electricity.

Electricity price is only a big advantage to some persons who happen to live in parts of the world with really cheap electricity price.The true miners mine even at a loss waiting for the big day when the price of cryptocurrencies will much higher than it is now,that is the essence of mining.

If you have access to solar panels wind or other free electricity, then think even with not the best mining farm you can earn very well.
But of course you have to mine in the pool. The difficulty grows and even if you are a major player, it is better to combine forces.

well,its depend how much u pay for powercost,
every country have a different price , on my country per 1 kWh just about +- 0.1 usd
and i use RX 570 4gb x 6 with average hashpower 180MH and Power consumption about 800W

And what must be the conditions for ETH so that it would be profitable again? And I guess many other options are present for digging out there, right?

People should understand mining is no way they make money fastly because it needs a lot of investment and it will take a lot of time to mature the coins. So we have considered other investment forms because we know how potentially the prices are increasing when the market starts recovering.

There will always be some that has zero marginal cost of electricity, or at least they are not paying for it themselves, they leech off their family or steal the power. Some have it included in their rent.

ethereum must worth a lot of money again to make it being profitable again. We have a lot of altcoins and we have so many options. But we are talking about ethereum right now. Remember ethereum has been getting block decrease in the first quarter of this year and less reward being distributed to the market. That will be only profitable if ethereum touch at least $600 rate again.

Zero cost of electricity if that's illegal is not right, I mean stealing is bad right and by the law you will be punished just like the recent cases about grandma stealing power, so that can't be taken into consideration.

i agree with you, when eth at current price it might nothing for you or non profitable, but this is only happened in a few moment...when the bull comes you will definitely grab all of your profit and will cover the cost when it non profit...not only mining eth, most of eth hodler are start to confuse seeing current market trend, but they still believe the time will come soon, so we better hodl it in a long term period.

The benefit is still there, that's only if you have electricity is not free, then in this case it is not profitable for you to produce Ethereum.

Yes, this is wrong, but it happens. Therefore, this should be taken into account.
But someday it should end. Even in Russia, where mining was almost not regulated by banks, there was a case when a bank requested a wallet address and confirmation of payment for electricity.

Well that's kinda messed up when a Bank or even worse government requesting a wallet address just for electricity bill, It's like they knew everything.
However, zero cost of electricity could from an alternate renewable energy and that's by any means not stealing. well, I guess i'm agree with your statement that whether that's illegal or legal shall be taken into consideration because they just happened.

You are both right, but @starkovblue you have to understand that when the prices of the coins increase the number of the miners increases and therefore salt the hashrate of the currency with a decrease of the profitability; @superstarbtc instead you have to understand that those who invest in mining, in addition to time and Roi, also look to anonymity, because it is almost the only way to have coins without registering with kyc in some exchange, or making a transfer or with credit card (in all cases it is tracked by the regulator).

More interesting that mining right now to sell right now is profitable for everyone, who have electricity cheaper then $0.2 and bought his GPU more than a year ago.

ETH is definitely one of the coins that we are all speculating on. In case a bull run occurs during the second half of 2019 or 2020, then ETH will be one of the coins that will appreciate the most. But you need to make a choice between mining at a loss (especially of the returns are not enough to cover the electricity costs) and purchasing ETH form the exchanges at lower cost. And I would say that the latter is an option that I would chose.

Don't make that choice. I would chose neither, I would rather invest in another project that has much greater potential than Ethereum. In a future bull run the tide would lift all ships, not just ETH.

Kinda makes sense. Mining right now is like just there to give you a little profit, even people just could make their ends meet. buying off exchanges at a lower price will save any effort and there's no reason to be burdened with technical problems.
However. ever better is that POS coin that are simply just requires you to stake, that'd be more convenient way for people who just dont think mining is profitable because electricity.

i, like many others i believe, see a better future price in ETH, and hodler for those times, maybe ill do the staking POS thing, maybe not, but i believe when/if ever mining stops, we will see like 2000$ again in price :O

no profit now matters not, think long young padiwans

Thinking that ETH will reach $2000 is basically like betting your money on it, you don't know when will that happens and will that really happen.
Being miners is all about calculating the profit that you got at the current time of mining so that does make sense if peolpe always think about how profitable their mining rigs are.

I think ETH is still a good coin to mine and its fetching profit for people. It only becomes unprofitable when you are still inexperienced and  your rigs are not so powerful. You can try mining other coins if you feel ETH is not fetching you the profit you need

Because if all miners shut down the mining rigs, then the network will collapse, no transactions will be confirmed, the security of the network become 0 and that will completely kill the coin. So the mining has to be profitable, maybe only for someone who has free electricity, but will be profitable to keep network alive.

It's business so you need to calculate everything, unless you are really have some  guts to continue mining this coin and hold those rewards then
wait till the value will hit your desire amount, there's no point for miners to continue if he knows that there's no longer earnings that can be earned
instead, everything will only go to expenses.

Now the market is recovering a little and profits are rising, but still very little return on graphics cards at this rate. We hope that Ethereum will grow.

Profits have only gone up for BTC and LTC. For most alt coins which are mineable like ETH not so much.

One reason is that ETH did go up a little but so did the difficulty. And while BTC and LTC is hitting yearly highs, ETH is still below the $300 mark. I think if ETH breaks $500 or so then finally we will see easy profits of $1-$1.50/day/gpu like we did for most of 2018.

However keep in mind that there are many ASICs now and tons of powered off GPUs which will eventually come online when the profitability is high.

If, or when ETH hits 500 USD or more I expect a huge amount of GPUs pointing to ETH, some people will turn on their rigs again
If ETH hits 1000 USD I expect a new run to buy GPUs again

At that time the difficulties will ridiculously increase again and the profit will be lesser than what it should be. I'm pretty sure that some of the miners have sold their rigs because they're just giving up to it.
But if ETH really hits $1000 it's the holders that get the most profit not a newcomer miners.

No doubt about difficulty, I remember 2017, I was mining ETH
But for now I just bought the coins (including ETH) and I'm waiting, unfortunately the electricicty rates in my coutry rised a lot

I completely disagree with you on this, irrespective of the fact that so many have trooped into mining its still very profitable. Am mining Eth and am making good profit with it

But that will be so difficult to be happened because in 2017 the price of ethereum got pushed by ICOs that used ethereum as the main crypto to raise the funds. EOS ico even dig millions ethereum from the circulating supply to be invested in the dev's wallet.
I m moving to another coin right now like raven or grin. My friend sold a lot of his RX series consider about they got lost when they used it to mine ethereum(only to cover the electricity cost).