Bitcoin Forum

We saw 2 bull runs in 2017 and 2021. At that time, mining brought a very large profit, sometimes a video card paid off in a few months.
Do you think that next alt season will be profitable mining and video cards will rise in price again?

It always has been, so it would be a pretty wild change if they no longer were.  It's possible though.  Most algorithms now have ASICs and if they don't then ASICs or FPGAs can still be created rather quickly to take advantage of anything new.  That certainly puts GPUs on the back burner.  However, with AI being a massive user of GPUs I would think an obvious solution to this would be a blockchain that somehow powered AI creations using GPUs.  If something like this gets created, I could see it's coin being an extremely valuable to "mine" asset.

In 2017 and 2021, mining on video cards was occupied by the ethereum coin.
For profitable mining on video cards, you will need a new coin that will be resistant to mining on asics, and so that asics do not make mining on video cards useless.
There are no such coins in this list yet https://www.hashrate.no/coins

3 bullruns! 2013-2017-2021  ;D

Many did not catch 2013 and I didn’t take mining very seriously then, although there were all the opportunities to mine on cheap electricity and there was no control over electricity consumption. If you pay money, no one asked what you were doing. But with each new season, mining becomes more difficult.

So next one will be in 2025, and the profit will start in 2024.

Do you think there will be a new coin or the Chinese ethereum-CONFLUX will take over the mining market?
Now there is an opportunity to mine a lot of coins, the price of which can grow by 50 times or more, and there are not very many candidates from current coins. Out of 40 coins, you can choose 7 candidates
https://www.hashrate.no/coins

I don't know, I am mining and holding different coins, will not sell them until the bull run is in.

That is a question which also has the answer in itself if you look at the data,miners made a lot of money in such times and they,the winners did not start mining when crypto reached these new all time highs,they were mining a whole long before this happened.In this time the "losers" started to appear in the market making the prices of video cards skyrocket to never seen before levels and by "losers" I mean the people who came in after they saw the new all time high and they were in for a quick buck.It is exactly these persons who lost the more and sold everything they bought at a loss because mining is not for a quick buck but is a long process that in the end rewards the patient ones who believe firmly in the future of crypto.

The big drops in coin prices taught miners to sell their coins, so few miners kept their coins until 2017. But buying graphics cards during a coin price all-time high is not as painful as buying a coin at a high price and then selling it at a big discount.

I am proud to say that I am one of those few miners who kept their coins until February 2021 when I sold everything I had at 59.8xx dollars for a Bitcoin and made a huge profit,that is why I always keep at least some amount for the next bull run which based on history should come in late 2025 as the latest in time.Any coin you people keep,whatever it may be,trust me you are going to congratulate yourself when this next bull run starts and you will sell then to make huge profit and be a better man  ;D.

This is how I felt after I got about 40.000 dollars in 2021 which is the pay rate of 2 years where I live now and the pay rate of upper level  ;D.

Will be good idea time to choose. There is so many shit coins come up lately and confusing.I thought kaspa was good but now it looks doomed after i saw asics.Etc team is dead no project nothing shame on them. They could turn etc 2nd best pow coin but looks like they hate working.

I hope so  ::)

This is great news. Usually, after a good profit, I lose a little, because I invest in weak projects. I bought different coins, because now it’s more profitable to invest not in mining, but in buying coins. But I left the budget for the purchase of video cards, and I will probably buy a cheaper 3000 series, because I do not like the price of the new nvidia 4000 series.


It's hard to choose, there are a lot of coins on the list, I would exclude dinosaurs and meme coins.

I agree with you but what are miners doing then,spending the majority of their hash rate on such coin which still makes it the 2nd best after ETH in terms of hash rate.Miners are the ones who should do something,after all mining is a decentralized system and everybody is free to chose what he wants to mine,if all miners release that ETC is a dead project they should probably move their hash rate away from such project.

The fact is though that no other coins offer a better promise to miners so far,even ETF and ETHW claiming to be the substitute of ETH have gone from bad to worse so not a lot of possibilities for miners and I assume that is why they are staying with ETC for the time being.

GPU miners have already said goodbye to ETC mining.
So far I've heard a few mainstream opinions. If the video cards are not old, then the miners have turned off mining and are waiting for new coins to appear at the end of this year or next in order to quickly start mining. Other miners try to mine something if electricity is cheap. I disabled half of the video cards.

Next year’s new currency will not need to be mined. It is very likely that it will explode or even die in the next bull market.

In order for miners to start buying new video cards and assembling mining farms, it is first necessary that the profit of working mining farms be good. Or wait another 6-12 months for the GPU miners to get rid of the hardware.Who bought new video cards of the 4xxx series for mining, they will pay off for a long time.

We are in a point I would say that as you have pointed out in another thread we can buy a full mining rig now with up to 8 cards for the price of just a single card in 2021 when price of GPU-s were sky high.It means that now everyone can invest in such a rig and I think in most countries in Eastern Europe they can afford to mine at a loss to keep the miners running (buying coins is an option but not as good as mining as you won't be as vigilant to market changes),in such countries anyone who wants can do so.I am not talking about Western Europe where 1 kilowatt costs 0.23 Eur the min like in Germany,but in these other countries up to 0.07 Eur kilowatt.

I think is a good time for people who always wanted to try mining but for one reason or another they were halted,now a mere 300 dollars and boom you have a small rig up and running.

How do you know?  ;D

---

Time will tell. What is funny is not, so many people will realize the about the next most profitable coin mined by GPU until it's too later, or we are already underway in a bull market. The trick is to try and mine coins with potential right now when they seem less profitable and the graphics cards are still very cheap. I am very sure there will a new profitable coin in the next cycle.

There are many old video cards on the market at a good price, but they can only be used in countries with cheap electricity. And such video cards have a greater risk of breakage compared to new ones. In Russia, there are also risks of illegal mining in a residential area, and if you mine according to the law, then the price of a commercial tariff will be 10 cents.

mining getting less and less desire from today crypto world, only from OG and early crypto nerds still get going,
many big player already rekt from mining industry, and to much hardware flooding the market really was different back then when mining still favorable investment
after the eth switch its really devastated lot of mining industry, there is no mineable coin big enough to carry lot of hardware and network participant.

@OgNasty yes. adopting useful POW could be very interesting and AI seems to be the thing.
However there many issues with that. How would you ensure that the "useful" part of the job is indeed useful and the network can establish consensus? in traditional pow you have all the power directed toward securing the chain, here it would go over to model training/inference/whatever, so how would you prevent from attacking miner injecting invalid blocks (what are valid blocks anyway?), also how you can deal with the potentially massive amounts of data that may be required?
too many questions...

EDIT: probably combination of POS and usefulPOW would be required

also what's up with that: https://www.rendertoken.com/

https://i.ibb.co/HNG9YXp/photo-2023-07-10-19-10-13.jpg (https://ibb.co/PT1V4tz)
In the picture, not all coins are for mining on graphics cards, but the GPU miners haven't given up yet.
Many miners now have no profit or it is small, but not all miners sold video cards, but only temporarily turned it off. According to the forecast, in 2024 everyone is waiting for the new GPU season.